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☆ Reddit API charges spark community outrage, dayslong blackout
▼ + stars: | 2023-06-12 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Steve Huffman, CEO of Reddit, delivers remarks on 'Redesigning Reddit' during the Web Summit in Lisbon, Portugal, Nov. 8, 2017. More than 6,000 Reddit communities have gone dark and are restricting access to protest the changes to the company's developer billing structure, beginning Monday morning. The blackout comes after Reddit told developers that it would begin to charge thousands of dollars for access to an application programming interface, or API. Among the concerns for the blackout organizers is allowing third-party apps to run advertising for the third-party developer's benefit. Developers use APIs to communicate directly with a website's software or infrastructure, and they allow Reddit's third-party developer ecosystem to build applications and services for users.

Persons: Steve Huffman, Reddit, Condé Nast, Elon Musk, Christian Selig Organizations: Advance Publications, Charter Communications, Warner Bros ., Twitter Locations: Lisbon, Portugal

☆ As Reddit battles OpenAI and sees its pre-IPO valuation fall, I can't help quoting Taylor Swift: Karma's gonna track you down
▼ + stars: | 2023-06-05 | by ( Julie Bort | ) www.businessinsider.com time to read: +5 min

Fidelity marked down the value of Reddit shares, a developer revealed details about new fees. Insider previously reported that Fidelity's Growth Company Fund had already marked down its Reddit stock in January disclosures. OpenAI disclosed in research that Reddit was among its massive number of sources used to train the underlying AI models. I asked ChatGPT if it is going to pay for Reddit dataI asked ChatGPT if it is going to pay for Reddit data. With its new battle against OpenAI, it's clear that Reddit feels similarly about misuse of online content.

Persons: Reddit's, Reddit, didn't, Harold Klaje, OpenAI, hasn't, Steve Huffman, Christian Selig, He's, We've, Taylor Swift Organizations: Fidelity, Techcrunch, Growth, Fund, Bloomberg

☆ OpenAI mulling Israel investment opportunities, Microsoft says
▼ + stars: | 2023-06-05 | by ( ) www.reuters.com time to read: 1 min

JERUSALEM, June 5 (Reuters) - OpenAI is considering investment opportunities in Israel, Microsoft Israel R&D center quoted the company's CEO, Sam Altman, as saying during a visit to the country on Monday. Microsoft, an OpenAI backer, hosted Altman at its Israel headquarters. (This story has been refiled to add a more specific attribution from Microsoft in paragraph 1)Writing by Dan Williams, Editing by Ari RabinovitchOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Altman, Altman, Dan Williams, Ari Rabinovitch Organizations: Microsoft, Thomson Locations: Israel

☆ Why running for president has a lot of upsides, even for the candidates who lose
▼ + stars: | 2023-06-03 | by ( Kimberly Leonard | Warren Rojas | ) www.businessinsider.com time to read: +12 min

Often, candidates can even get the book deals before they run for president, especially if there's a lot of buzz around them. CNN host and debate moderator Wolf Blitzer stands in front of the Republican presidential candidates in 2016. outlook has taken hold among both Republican and Democratic presidential candidates. Numerous presidents were once failed presidential candidates, including Lyndon Johnson, Richard Nixon, George H.W. "The only way to learn how to run for president," Sullivan said, "is to run for president."

Persons: —, Donald Trump, Ron DeSantis, Nikki Haley, Sen, Tim Scott of, Asa Hutchinson, Vivek Ramaswamy, Larry Elder, Mike Pence, Chris Christie, Doug Burgum, It's, Marco Rubio's, Terry Sullivan, Sullivan, who've, Pete Buttigieg, Kamala Harris, Kent Nishimura, aren't, Kamala Harris of, Joe Biden, Stacy Rosenberg, Haley, Glenn Youngkin —, Elizabeth Warren, Bernie Sanders, J, Miles Coleman, Ball, Mike Huckabee, Spencer Platt, Rosenberg, Doug Heye, Trump Adam Kinzinger hasn't, Archie Bunker, Trump, Hutchinson, Sanders, Michael Benet of, Biden, Heye, Rubio, John Hickenlooper, Hickenlooper, Wolf Blitzer, David J, Phillip, Hillary Clinton, Scott, Jimmy Carter, Bill Clinton, he's, Coleman, Lyndon Johnson, Richard Nixon, George H.W, Bush — Organizations: Service, GOP, Florida Gov, Arkansas Gov, New, New Jersey Gov, North Dakota Gov, White, Trump, Transportation, Los Angeles Times, Getty, Carnegie Mellon University's Heinz College of Information Systems, Public, Virginia Gov, Publishers, Macmillan Publishing, Senators, University of Virginia Center for Politics, Former Arkansas Gov, Fox News, Netflix, Republican, Democratic, Child Tax, Florida Republican, Capitol, CNN, Georgia Gov Locations: Florida, Tim Scott of South Carolina, Arkansas, New Jersey, Millenial, South Bend , Indiana, Kamala Harris of California, Virginia, Iowa, California, Illinois, United States, Michael Benet of Colorado, Colorado, New Hampshire

That's exactly what the Fed would like to see," said Art Hogan, chief market strategist at B Riley Wealth in New York. The data brought relief to investors who now expect the Fed to skip an interest rate hike this month for the first time since starting its aggressive policy tightening more than a year ago. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. The S&P 500 communication services index (.SPLRCL), housing telecoms, fell 0.5% while the S&P 500 consumer discretionary sector (.SPLRCD), housing Amazon, soared 1.6%. The S&P 500 industrials sector (.SPLRCI) rose 1.4%, while Dow heavyweight Caterpillar (CAT.N) gained 3.7%.

Persons: Hogan, they're, FEDWATCH, Shreyashi Sanyal, Shristi, Nivedita Bhattacharjee, Maju Samuel Organizations: Amazon, Dow, Nasdaq, Federal Reserve, Labor, Riley, FEDWATCH Reuters Graphics Reuters, Dow Jones, Amazon.com Inc, Telecom, Verizon Communications, Mobile US Inc, Dish Network Corp, Caterpillar, NYSE, Thomson Locations: New York, United States, China, Bengaluru

The court found Sonko guilty of “corrupting youth,” according to state media, but cleared him of other charges, including rape. Sonko, 48, didn’t attend Thursday’s hearing and remained at his home, but following the verdict he can be arrested any time. Sonko’s political party PASTEF (Patriots of Senegal for Ethics, Work and Fraternity), said the verdict was politically motivated as he is challenging President Macky Sall’s government. Police intervene as supporters of Senegalese opposition leader Ousmane Sonko protest in Dakar on June 1, 2023. Annika Hammerschlag/Anadolu Agency/Getty ImagesA demonstrator hurls a stone at police in Dakar on June 1, 2023 during a protest.

Persons: Ousmane Sonko, Sonko, didn’t, Abdou Karim Fofana, Antoine Felix Abdoulaye Diome, ” Nteblocks, Macky Sall’s, Annika Hammerschlag, John Wessels, “, Sall, who’s Organizations: CNN, Government, Facebook, Twitter, YouTube, PASTEF, Patriots, Police, Anadolu Agency, Getty Locations: Senegal’s, Dakar, Senegal

☆ BRICS ministers put on show of strength as Putin arrest warrant looms large
▼ + stars: | 2023-06-01 | by ( Wendell Roelf | ) www.reuters.com time to read: +4 min

"The answer is the president (Cyril Ramaphosa) will indicate what the final position of South Africa is. At a news conference later, the ministers side-stepped a barrage of questions about the Putin issue. The ICC accused Putin in March of the war crime of forcibly deporting children from Russian-occupied territory in Ukraine. South Africa had invited Putin in January. The BRICS bloc "was inclusive ... in sharp contrast to some countries' small circle, and so I believe the enlargement of BRICS will be beneficial to the BRICS countries," he said.

Persons: Putin, Naledi Pandor, Vladimir Putin, Pandor, Cyril Ramaphosa, Subrahmanyam Jaishankar, Ma Zhaoxu, Hossein Amir, Prince Faisal bin Farhan Al Saud, Carien du Plessis, Anait, Bhargav Acharya, Nellie Peyton, Alexander Winning, Estelle Shirbon, Joe Bavier, John Stonestreet, Ros Russell, Andrew Heavens Organizations: West, International Criminal Court, ICC, United Nations Security Council, New Development Bank, China's, BRICS, Iran's, Saudi, United, Thomson Locations: Cape Town, Africa, South Africa, Johannesburg, Brazil, Russia, India, China, Ukraine, Moscow, Beijing, Venezuela, Argentina, Algeria, United Arab Emirates

☆ Miami Has Been in Vogue. Its City Hall Has Been in Turmoil.
▼ + stars: | 2023-06-01 | by ( Patricia Mazzei | ) www.nytimes.com time to read: +1 min

Mayor Francis X. Suarez of Miami has visited early primary states in recent weeks, mulling a Republican presidential run built on the premise that his in-vogue city has boomed in difficult times — “the Miami miracle,” he calls it. Techies have flocked to the city from San Francisco. Testimony from a parade of former public employees portrayed City Hall as a toxic workplace, rife with dysfunction. Miami has long been a city of confounding narratives, the airbrushed image it projects to outsiders often obscuring the complicated realities that lie beneath. But these days, the contrast between the Miami brand and the goings-on at City Hall seems especially stark.

Persons: Francis X, Suarez, mulling, ”, Techies, Joe Carollo Organizations: Suarez of Miami, Republican, Bankers, Miami, City Locations: Miami, San Francisco, New York

☆ South Africa mulls options on ICC arrest warrant for potential visitor Putin
▼ + stars: | 2023-05-31 | by ( Carien Du Plessis | ) www.reuters.com time to read: +3 min

However, South Africa had on Jan. 25 already invited Putin to the Aug. 22-24 meeting in Johannesburg of BRICS leaders of emerging economies, comprising Brazil, Russia, India, China and South Africa. "Because of our legal obligations, we have to arrest President Putin, but we can't do that," Mbeki said. South Africa on Monday issued diplomatic immunity to all leaders attending the meeting and a gathering of BRICS foreign ministers in Cape Town this week. The international relations department said this was standard procedure, however, for all international conferences in South Africa. The governing African National Congress decided in December that South Africa should abandon the process and try to effect changes to the ICC from within.

Persons: Vladimir Putin, Putin, Zane Dangor, Thabo Mbeki, Mbeki, Obed Bapela, Britain's, Bapela, Clayson Monyela, Omar al, Bashir, Carien du Plessis, Olivia Kumwenda, Alexandra Zavis, Grant McCool Organizations: Criminal Court, ICC, South, Kremlin, Britain's BBC, African National Congress, Thomson Locations: JOHANNESBURG, South Africa, Ukraine, Moscow, Johannesburg, Brazil, Russia, India, China, Africa, Pretoria, Cape Town, African

☆ New Hampshire GOP Gov. Chris Sununu says any Republican in the presidential race who isn't 'hitting Donald Trump hard right now' is 'doing the entire party a disservice'
▼ + stars: | 2023-05-28 | by ( John L. Dorman | ) www.businessinsider.com time to read: +2 min

"Any Republican that isn't hitting Donald Trump hard right now is doing the entire party a disservice," he said. Chris Sununu is still mulling jumping into the presidential race but sternly warned declared candidates who have yet to aggressively target former President Donald Trump to shift their gears. "All Republicans have to be hitting Donald Trump," Sununu told The New York Times. "Any Republican that isn't hitting Donald Trump hard right now is doing the entire party a disservice because if only one or two people are willing to take a shot at Donald Trump, it looks personal. The country is going to push back against it," Sununu told ABC News earlier this year.

☆ Here's one stock to play the 'almost perfect marriage' between A.I. and crypto, according to Needham
▼ + stars: | 2023-05-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

While the possibilities are still coming into focus, Needham sees at least one near-term opportunity for investors, and a stock to play it. In the near term, the infrastructure level is the place for investors, and Applied Digital offers an interesting opportunity, according to the firm. "We have been excited about Applied Digital, which is a bitcoin mining hosting provider that recently entered into hosting high performance compute (HPC) and AI," Needham analyst John Todaro told CNBC by email. "Given the similar power density requirements between bitcoin mining and hosting AI applications, we believe there is an attractive opportunity for Applied Digital and potentially other mining hosting providers to enter this space." It's still early days for both crypto and AI individually, although the AI hype may have better longevity from having been around for longer.

☆ How risky bank debt makes customers safer
▼ + stars: | 2023-05-25 | by ( Liam Proud | ) www.reuters.com time to read: +6 min

LONDON, May 25 (Reuters Breakingviews) - Bank watchdogs are mulling changes to deposit insurance schemes after a string of lenders failed. That’s a problem for depositors, since long-term debt acts as a buffer for customers too. Forcing the issuance of more long-term bank debt could make them cheaper too. The trickier part is figuring out who ultimately bears the cost of loss-absorbing debt. Relying more on loss-absorbing debt could make such giant ad-hoc bills less likely in the future.

☆ 2024 US presidential election: who is in, who is out and who is still thinking about it
▼ + stars: | 2023-05-24 | by ( Ross Colvin | ) www.reuters.com time to read: +7 min

May 24 (Reuters) - Florida Governor Ron DeSantis announced on Wednesday he is seeking the 2024 Republican presidential nomination, joining former President Donald Trump in a growing list of Republicans seeking to unseat Democratic President Joe Biden. Here is a list of declared candidates and other potential 2024 hopefuls in both the Democratic and Republican parties. The former Kansas congressman was one of Trump's most loyal lieutenants and initially backed his false claims of a stolen presidential election in 2020. Several of his key staff, though, have recently joined the DeSantis camp, suggesting that Youngkin is not going to run in 2024. She ran as a Democrat in the 2020 presidential primary but dropped out of the race before any votes had been cast.

Persons: Ron DeSantis, Donald Trump, Joe Biden, JOE BIDEN Biden, DONALD TRUMP Trump, Biden, Trump, RON DESANTIS, DeSantis, SCOTT, Scott, NIKKI HALEY, Haley, ASA HUTCHINSON, Hutchinson, MIKE, Pence, Trump's, CHRIS CHRISTIE, Christie, CHRIS SUNUNU The, VIVEK RAMASWAMY, Ramaswamy, ROBERT KENNEDY JR, Kennedy, Robert F, MIKE POMPEO Trump's, GLENN YOUNGKIN, MARIANNE WILLIAMSON, Ross Colvin, Colleen Jenkins, Nick Zieminski, Mark Potter Organizations: Democratic, Republican, Biden, Trump, Republican Party, New, Walt Disney Co, Black Republican U.S, Reuters, United Nations, ASA, White House, U.S . Capitol, Republican White House, YouTube, Central Intelligence Agency, White, Democrat, Thomson Locations: Florida, U.S, New York, Ukraine, South Carolina, Arkansas, Pence, New Jersey, CHRIS SUNUNU The New Hampshire, England, Kansas, Virginia

[1/2] People gather ahead of the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. Lawyers for DeSantis, who is being sued for allegedly targeting Disney for company leadership's political views, filed a motion on Friday in Tallahassee, Florida, asking U.S. District Judge Mark Walker be recused in the case. Disney sued DeSantis in April for allegedly "weaponizing" state government in retaliation for the company's criticism of a law that banned classroom discussion of sexuality and gender identity with younger children. DeSantis' lawyers argued on Friday that the judge overseeing that case demonstrated potential partiality while handling separate cases in which the judge mentioned Disney as an example of state retaliation. Considering Walker's statements, "the court's impartiality in this matter might reasonably be questioned," DeSantis' lawyers said in the their motion.

☆ A Sony spinoff comes better late than never
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, May 18 (Reuters Breakingviews) - A long-awaited Sony (6758.T) spinoff is finally happening. The Japanese video games-to-semiconductors conglomerate may list its financial subsidiary "within the next two to three years" while retaining a 20% stake. Investors promptly bid up shares of Sony as much as 7% on the news. Partially offloading Sony Financial Services, which the company only took full control of in 2020 for $3.7 billion, makes sense. Sony stresses it is not planning any other spinoffs for now - one of them is plenty to look forward to.

☆ Thailand’s election could be a lose-lose scenario
▼ + stars: | 2023-05-12 | by ( Anshuman Daga | ) www.reuters.com time to read: +3 min

SINGAPORE, May 12 (Reuters Breakingviews) - Thailand’s elections on Sunday might return opposition parties to power for the first time since 2014, or alternatively deliver a stitched-up military-backed government. Assuming one of these opposition parties wins, it will need to control 376 seats out of the combined 500-seat House of Representatives and the 250-seat Senate to choose a prime minister. Pheu Thai claims it can lift annual economic growth to around 5% so long as is in power, which would be nearly double 2022’s low base. Higher incomes might ease Thailand’s household debt, which at 87% of GDP is the third-highest in Asia. HSBC analysts expect revenue at major Thai corporations to grow by only 2% next year – again, well behind neighbours – and Pheu Thai is mulling a 20% tax on private company profits, per a report in the Bangkok Post.

☆ Klaviyo files confidentially for U.S. IPO -sources
▼ + stars: | 2023-05-12 | by ( Echo Wang | ) www.reuters.com time to read: +2 min

NEW YORK, May 12 (Reuters) - Data and marketing automation firm Klaviyo Inc confidentially submitted paperwork on Friday with U.S. regulators for an initial public offering (IPO) in New York, according to people familiar with the matter. While terms of the IPO have not yet been set, the Boston-based company is mulling a raise of at least $750 million in the listing, one of the sources said. The Wall Street Journal had reported in April that Klaviyo was preparing for an IPO. With the IPO registration, Klaviyo becomes the second high-profile name in recent weeks to press ahead with an offering, even as stock market volatility and economic uncertainty has put many other IPO hopefuls off. SoftBank Group Corp's (9984.T) Arm Ltd filed confidentially for its stock market listing in April, Reuters reported.

☆ AMERICAS Debt cap tick-tock leaves eerie calm
▼ + stars: | 2023-05-12 | by ( ) www.reuters.com time to read: +4 min

The issue dominated much of the G7 finance chiefs meeting in Japan. Dimon claimed any technical default could cause financial panic and JPMorgan had convened a 'war room' internally to deal with the issue. "It's very unfortunate, it's time-consuming, hopefully it won't happen, but it affects contracts, collateral, clearing houses, clients," Dimon said. Chinese stocks underperformed, with the G7 meeting mulling restrictions on investment to the world's second-biggest economy. Bank of England chief economist Huw Pill speaksReuters GraphicsJobless claimsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by Christina Fincher, <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

☆ Chris Christie called Trump 'Putin's puppet' for not saying that he wants Ukraine to win the war against Russia
▼ + stars: | 2023-05-11 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Chris Christie called Trump "Putin's puppet" for not answering a question about the Ukraine war. At a CNN town hall on Wednesday, Trump did not answer a question on whether he wants Ukraine to win. "More proof that he continues to be Putin's puppet," Christie, a former Trump supporter, tweeted. "More proof that he continues to be Putin's puppet." In response to a request for comment on Christie, a Trump spokesperson replied with one word: "Who?"

☆ How big companies are contending with a frenzy of demand for Ozempic from their workers
▼ + stars: | 2023-05-10 | by ( ) www.businessinsider.com time to read: +5 min

Demand for expensive weight-loss drugs such as Ozempic and Wegovy is soaring. Companies that foot the bill for their workers' health coverage are mulling whether to pay for them. Across the US, companies are facing a critical decision: whether to foot the bill for the expensive weight-loss drugs that have exploded in popularity in recent months. Andrews estimated that more than half the companies in the alliance covered weight-loss drugs. Andrews' comments offer a window into how big US companies are grappling with the rising demand for and high costs of weight-loss treatment.

☆ Chris Christie blasts Trump's 2024 presidential campaign as a 'vanity exercise' meant to 'try to make himself feel better'
▼ + stars: | 2023-05-07 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Chris Christie on Sunday called former President Trump's 2024 bid a "vanity exercise." The former governor is mulling a 2024 campaign of his own and is set to make a decision this month. Chris Christie of New Jersey on Sunday once again blasted former President Donald Trump's presidential campaign, calling the ex-president's 2024 effort a "vanity exercise to try to make himself feel better." "I'm very concerned that what we're heading towards is a Trump-Biden rematch," Christie said. The former governor has indicated that he would make a decision about a 2024 campaign sometime this month.

☆ Short sellers pocketed nearly $400 million in a single day from the regional bank stock sell-off
▼ + stars: | 2023-05-05 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Short sellers made $378.9 million in just one day betting against embattled regional banks, data show. Such traders have been selling borrowed bank stocks before buying them back at lower levels once their price falls. Traders profited as fresh turmoil embroiled regional banks this week following First Republic's failure and its takeover by JPMorgan. According to ORTEX, short sellers have made $816 million from the three bank stocks since the start of the year. Last month, ORTEX reported that short bets against Canada's Toronto-Dominion had swollen to $6.1 billion, having become the world's most shorted bank in early April.

☆ FDIC mulls loss-sharing with nonbanks to boost bids on failed lenders, Bloomberg reports
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - The U.S. Federal Deposit Insurance Corp (FDIC) is mulling whether to offer loss-sharing agreements to private equity firms and other nonbanks that buy parts of failed lenders, after it was left holding a large portfolio of Signature Bank loans following its collapse, Bloomberg News reported on Friday. Since the FDIC does not regulate nonbanks, the firms cannot bid for an entire lender but such a move could entice them to buy loans and assets at a discount from collapsed institutions and help the FDIC get higher bids, the report said. The FDIC did not immediately respond to a Reuters request for comment. Earlier this week, JPMorgan (JPM.N) entered into a loss-sharing agreement with the FDIC when it agreed to assume all of First Republic's deposits but share losses on certain portfolios including residential and commercial loans. Reporting by Juby Babu in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ This Supreme Court is slow to issue rulings — glacially slow
▼ + stars: | 2023-04-30 | by ( Lawrence Hurley | ) www.cnbc.com time to read: +6 min

WASHINGTON, DC - APRIL 19: The Supreme Court of the United States, on Wednesday, April 19, 2023 in Washington, DC. (Kent Nishimura / Los Angeles Times via Getty Images)WASHINGTON — Back in 1923, the Supreme Court had issued 157 rulings by May 1 in a term that started the previous fall. Nevertheless, the slow pace at which rulings have been issued this term has started to attract scrutiny from court watchers. In both 2022 and 2021, the court had decided 25 cases by May 1, according to Feldman. Court experts differed on whether the crunch would have any impact on how the court actually decides cases.

☆ Fed’s SVB review finds there’s no “I” in “blame”
▼ + stars: | 2023-04-28 | by ( John Foley | ) www.reuters.com time to read: +4 min

So many, in fact, that the report makes it hard to point the blame anywhere in particular. The 114-page post-mortem of SVB, compiled in just over six weeks at the behest of supervisory chief Michael Barr, points out some obvious but undeniable truths. But this ailing dog of a bank also had a too-long leash, thanks to timid, consensus-seeking supervisors. Using pre-rollback rules, SVB would have fallen visibly short of its required liquidity levels by the end of 2022. But the report skirts over the extent to which the Fed’s top staff were aware of risks at SVB.

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