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A Samsung Galaxy Z Fold 5 smartphone, left, a Galaxy Z Flip 5 smartphone during the Galaxy Unpacked event in Seoul, South Korea, on Wednesday, July 26, 2023. Both DRAM and NAND flash memory chips also saw "more limited price drops" which improved second-quarter performance, compared with the first quarter, Samsung said. Weak electronics demandSamsung said that overall mobile phone market demand declined from the first quarter due to continued macroeconomic challenges such as inflation. Inflation has led to consumers cutting back on purchases of these goods, driving down prices for memory chips. Focus on premium foldable phonesSamsung said it will focus on the newly launched high-end Galaxy Z Flip 5 and Galaxy Z Fold 5 series to cement its leading position in the global foldable smartphone market.
Persons: SeongJoon Cho, Nabila Popal, Bryan Ma Organizations: Samsung, Galaxy, Apple Inc, Bloomberg, Getty, International Data Corporation, Micron, SK Hynix, IDC Locations: Seoul, South Korea, China
WASHINGTON, July 25 (Reuters) - The International Monetary Fund said on Tuesday it is now projecting Argentina's economy will contract 2.5% in 2023, with a year-end inflation rate of about 120%, largely due to a crippling drought that has curtailed agricultural production. "Argentina is facing a very difficult situation particularly that's made worse by the drought, the agricultural drought it has been facing in the last year or so," IMF chief economist Pierre-Olivier Gourinchas told a news conference. The Argentina forecast, a steep downgrade from an April projection of 0.2% growth in 2023, stands in stark contrast to a slightly improved outlook for global growth in the IMF's latest World Economic Outlook projections. Gourinchas declined to comment on how the forecasts may affect negotiations with Argentina over its $44 billion IMF loan program. IMF deputy research director Petya Koeva-Brooks said the inflation projection of 120% would require some moderation of inflation rates and would require implementing macroeconomic policies agreed between the IMF and Argentina.
Persons: Pierre, Olivier Gourinchas, Petya Koeva, Brooks, David Lawder, Chizu Organizations: Monetary Fund, IMF, The, Thomson Locations: Argentina
DHAKA, July 25 (Reuters) - S&P Global Ratings on Tuesday lowered Bangladesh's long-term rating outlook to negative from stable, citing risks the country's external liquidity position could deteriorate in the next year while foreign exchange reserves remain under pressure. "Lower generation of current account receipts than we expect, a higher overall current account deficit than we forecast, or a failure to materially boost foreign exchange reserves would indicate downward pressure on the rating," S&P said. "This would cause either more uncertainty and more costs to weigh the growing risks of uncertainty in repayment," he said. Moazzem said measures were needed particularly in subsidy management and energy imports, which are the main weaknesses in the foreign exchange reserve situation. "The government needs to take bold actions in these regards including substituting importing energy by exploring gas and substituting energy import for power, agriculture by solar based and other renewable energy measures," he added.
Persons: Khondaker Golam, Moazzem, Ruma Paul, Juby Babu, Jacqueline Wong, Lincoln, Jamie Freed Organizations: International Monetary Fund, Thomson Locations: DHAKA, Ukraine, Bangladesh, Dhaka, Bengaluru
CNN —Less than six months after ChatGPT-creator OpenAI unveiled an AI detection tool with the potential to help teachers and other professionals detect AI generated work, the company has pulled the feature. OpenAI quietly shut down the tool last week citing a “low rate of accuracy,” according to an update to the original company blog post announcing the feature. Against that backdrop, OpenAI announced the AI detection tool in February to allow users to check if an essay was written by a human or AI. Other companies such as Turnitin have also rolled out AI plagiarism detection tools that could help teachers identify when assignments are written by the tool. Meanwhile, Princeton student Edward Tuan introduced a similar AI detection feature, called ZeroGPT.
Persons: OpenAI, ChatGPT, , Lama Ahmad, Ahmad, Edward Tuan Organizations: CNN, Public, Princeton Locations: New York City, Seattle
When Musk bought Twitter late last year, he laid out a vision for an “everything” app called X, where users could communicate, shop, consume entertainment and more. Musk — who bought Twitter with a company called X Corp. — tweeted on Sunday that X.com now redirects to Twitter. Musk even told followers that tweets should instead be called “x’s.”On Sunday, CEO Linda Yaccarino seemed to confirm Musk’s vision for the company. Elon Musk has officially rebranded Twitter as "X," as he seeks to turn the platform into an "everything" app. And until Musk rolls out significant changes to the platform, observers of the company say ditching Twitter’s well-known brand is a risky move.
Persons: New York CNN — Elon Musk’s, Musk, — Musk, , , It’s, ” Mike Proulx, Forrester, Proulx, , Linda Yaccarino, ” Yaccarino, Elon Musk, Jonathan Brady, Walter Isaacson, texted Isaacson, ” “, ” Musk, he’s, WeChat, Deloitte, Instagram, Joshua White Organizations: New, New York CNN, Twitter, PayPal, Musk —, X Corp, SpaceX, Facebook, Vanderbilt University Locations: New York, China, Arizona, Michigan
Elon Musk has started having Twitter's iconic blue bird logo removed at the headquarters. One sign couldn't be taken down as it broke apart, leaving remnants still attached, per an NYT reporter. As Twitter rebrands to X, staff are taking down the iconic blue bird logos at its San Francisco headquarters. The Times earlier reported that work had started on detaching a ten-foot-tall bird icon in the office's cafeteria. "This is an extremely risky move because with X, Musk is essentially starting over while its competition is afoot," he added.
Persons: Elon Musk, Ryan Mac, Yu Liu, Mike Proulx, Forrester, Proulx, Mark Zuckerberg's Organizations: Twitter, San, New York Times, Times Locations: San Francisco
And Twitter's cash flow has been negative as a result of that and its heavy debt load. Mike Proulx, research director at Forrester, said on Sunday that the move would further alienate Twitter's original, and once fiercely loyal, user base. The billionaire Musk said in a Sunday post he wanted to change Twitter's logo and polled his millions of followers whether they would favor changing the site's color scheme from blue to black. Twitter logo and a photo of Elon Musk are displayed through magnifier in this illustration taken October 27, 2022. In April, Twitter's legacy blue bird logo was temporarily replaced by Dogecoin's Shiba Inu dog, helping drive a surge in the cryptocurrency's market value.
Persons: Elon Musk, Mike Proulx, Forrester, Musk, Dado Ruvic, adieu, Linda Yaccarino, Twitter, Dogecoin's Shiba, Mrinmay Dey, Rishabh, William Mallard, Jan Harvey, Cynthia Osterman, Diane Craft Organizations: Twitter Inc, REUTERS, Twitter, X Corp, Thomson Locations: Bengaluru
“In the next few years, the main impact of AI on work will be to help people do their jobs more efficiently,” Microsoft co-founder Bill Gates said in a blog post recently. Big Tech companies are now rushing to jump on the AI bandwagon, pledging significant investments into new AI-powered tools that promise to streamline work. News outlet CNET had to issue “substantial” corrections earlier this year after experimenting with using an AI tool to write stories. Others like Clarke, the publisher, have tried to combat the fallout from the rise of AI by relying on more AI. “You listen to these AI experts, they go on about how these things are going to do amazing breakthroughs in different fields,” Clarke said.
Persons: hasn’t, Neil Clarke’s, Clarke, , ” Clarke, “ It’s, ChatGPT, Bill Gates, it’s, Shakked, Neil Clarke, Lisa R, Clarke Mathias Cormann, ” Cormann, ’ Ivana Saula, Saula, ” Saula, , Gizmodo Organizations: CNN, Microsoft, Big Tech, Massachusetts Institute of Technology, MIT’s Department of Economics, Clarkesworld Magazine, Organization for Economic Co, Development, “ Workers, International Association of Machinists, Aerospace Workers, ” Workers, CNET, Star Locations: Shakked Noy, MIT’s, newsrooms
Older orca mothers may protect their sons from bullying well into adulthood. Orca males carry fewer bite marks if their moms are alive in their old age, a study found. Moms may step in if their sons are in troubleTooth rake marks left behind on a Southern resident killer whale. David Ellifrit, Center for Whale ResearchThis new research, from the Universities of Exeter and York in the UK and the Center for Whale Research in Washington, suggests moms could be going even further for their sons. By protecting their sons, older females may be increasing the pod's chance of passing on its genes, while expending fewer resources.
Persons: Charli Grimes, Michael Weiss, Grimes, David Ellifrit, Darren Croft Organizations: Service, University of Exeter, Southern, for Whale Research, Center, , Research, Exeter University, for, Universities of Exeter, Center for Whale Research Locations: Wall, Silicon, synchrony, Southern, York, Washington
[1/5] A killer whale member of the Bigg's orca T65B pod is seen in the Salish Sea near Eastsound, Washington, U.S., July 7, 2023. While the interactions may be frightening, they have also spawned a popular social media trend that humorously suggests killer whales are rising up to attack wealthy yacht owners. Dr. Michael Weiss, research director of the Center for Whale Research, has another theory for the orcas’ behavior – it’s a fad. "We've seen killer whales do fad-like behavior, and other cetaceans have fads. In 1987, Washington’s Southern Resident orcas suddenly began wearing dead salmon on their heads, like hats.
Persons: Matt Mills McKnight, orcas, Deborah Giles, Giles, Olivia Hafey, Hafey, it's, Dr, Michael Weiss, Weiss, We're, Matt McKnight, Jane Ross, Mary Milliken, Diane Craft Organizations: REUTERS, Puget Sound, University of Washington’s, Harbor Laboratories, Southern, Center for Whale Research, Reuters, Washington’s, Thomson Locations: Eastsound , Washington , U.S, Matt Mills McKnight SEATTLE, . Washington, Portuguese, Washington’s San Juan Island, Seattle
LONDON, July 19 (Reuters) - Global oil prices were little changed on Wednesday as markets weighed U.S. demand concerns against China's pledge to support economic growth. Brent futures were flat at $79.63 a barrel by 0800 GMT, while U.S. West Texas Intermediate (WTI) crude edged 10 cents lower to $75.65 per barrel. "With the Fed likely to raise interest rates for the last time in July, concerns about U.S. demand that will limit oil price gains are likely to remain," said CMC Markets analyst Leon Li. However, on the positive front, China's top economic planner pledged on Tuesday it would roll out policies to "restore and expand" consumption in the world's second-largest economy, which could boost oil demand. On the supply side, data from the American Petroleum Institute (API), an industry group, showed crude oil, gasoline and distillate inventories all fell last week.
Persons: China's, Brent, Leon Li, Claudio Galimberti, John Evans, Natalie Grover, Katya Golubkova, Trixie Yap, Jamie Freed, David Holmes Organizations: U.S, West Texas, American Petroleum Institute, Thomson Locations: China, Europe, America, Russia, London, Tokyo, Singapore
Best Practices for Board Email Security
  + stars: | 2023-07-17 | by ( Rob Sloan | Research Director | Wsj Pro | ) www.wsj.com   time to read: 1 min
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Democratic Rep. Adam Schiff's Senate campaign is sitting on more cash than any presidential candidate. The campaign reported having about $29,800,864 in cash on hand at the end of Q2. The haul can in part be attributed to a massive fundraising push by his campaign after the House of Representatives censured him. Schiff's campaign also has millions more cash on hand than any other presidential candidate. The money that Schiff's Senate campaign is sitting on will become increasingly useful in the coming months as he runs a competitive campaign against Rep. Katie Porter and longtime Rep. Barbara Lee to replace outgoing Sen. Dianne Feinstein.
Persons: Adam Schiff's, Adam Schiff, it's, That's, Rob Byers, Donald Trump, Ron DeSantis, Trump, Katie Porter, Barbara Lee, Sen, Dianne Feinstein, Insider's Bryan Metzger, Schiff, Porter Organizations: Democratic, Adam Schiff's Senate, Service, Democratic National Committee, California, FEC, Republican, Florida Gov, Schiff's Senate, Save America PAC, PAC, Federal, Commission, NBC, Senate, Representatives, Public, Institute of Locations: Wall, Silicon, Schiff's, Institute of California
While recent inflation data was encouraging, he said, "one data point does not make a trend." Reuters Graphics Reuters Graphics'STRANGE BUSINESS CYCLE'Until the Fed declares its inflation war at an end, however, economists and market analysts say risks to a benign outcome will remain. "At 3.5%, July won't be the last time the Fed hikes," Furman said in an interview. Ed Al-Hussainy, senior rates analyst at Columbia Threadneedle, meanwhile, is skeptical that the impact of rapid rate hikes has already been absorbed. "To say we have the same economy with real rates at negative 2% as we do at positive 2%, I don't buy it."
Persons: Jerome Powell, Christopher Waller, Waller, Thomas Barkin, Nick Bunker, Jason Furman, Obama, Furman, Ed Al, Columbia Threadneedle, Raphael Bostic, Austan Goolsbee, shouldn't, Goolsbee, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Reuters Graphics, Richmond Fed, Reuters Graphics Reuters, Fed, Harvard University, White, Columbia, Atlanta Fed, Chicago Fed, CNBC, Thomson Locations: U.S
While recent inflation data was encouraging, he said, "one data point does not make a trend." Reuters Graphics Reuters Graphics'STRANGE BUSINESS CYCLE'Until the Fed declares its inflation war at an end, however, economists and market analysts say risks to a benign outcome will remain. "At 3.5%, July won't be the last time the Fed hikes," Furman said in an interview. Ed Al-Hussainy, senior rates analyst at Columbia Threadneedle, meanwhile, is skeptical that the impact of rapid rate hikes has already been absorbed. "To say we have the same economy with real rates at negative 2% as we do at positive 2%, I don't buy it."
Persons: Jerome Powell, Christopher Waller, Waller, Thomas Barkin, Nick Bunker, Jason Furman, Obama, Furman, Ed Al, Columbia Threadneedle, Raphael Bostic, Austan Goolsbee, shouldn't, Goolsbee, Howard Schneider, Dan Burns, Paul Simao Organizations: Federal Reserve, Reuters Graphics, Richmond Fed, Reuters Graphics Reuters, Fed, Harvard University, White, Columbia, Atlanta Fed, Chicago Fed, CNBC, Thomson Locations: U.S
He said in the statement released by the St. Louis Fed that the regional bank "is well-positioned for ongoing success and impact." The St. Louis Fed said Kathleen O'Neill Paese, the regional bank's first vice president and chief operating officer, will act as interim president. The regional bank said its search committee will look nationally for a new leader, noting that its search will be "robust, transparent, fair and inclusive." While they operate under the oversight of the Board of Governors in Washington, regional Fed banks are quasi-private institutions technically owned by member banks. With Bullard's exit, there will be two unfilled regional Fed bank slots.
Persons: James Bullard, Bullard, Louis Fed, Mitchell, Daniels, Jr, doesn't, Tim Duy, Duy, Derek Tang, LH Meyers, Wrightson ICAP, Kathleen Bostjancic, Kathleen O'Neill Paese, Louis Fed's, Esther George, Michael S, Ann Saphir, Chizu Nomiyama, Paul Simao Organizations: Louis Federal Reserve, U.S, Purdue, St, School of Business, Federal, Macro, Fed, Purdue University, Minneapolis Fed, Nationwide, Brookings Institution, Governors, Kansas City Fed, Derby, Thomson Locations: Indiana, St, Washington
[1/2] The Empire State Building and Manhattan skyline are pictured from the Summit at One Vanderbilt observatory in Manhattan in New York City, U.S., April 14, 2023. "There's essentially almost no market for office buildings right now because people don't know where the bottom is," said Andrew Nelson, a real estate economist who runs Nelson Economics in Washington. Opportunistic investors who could clear the market of unneeded office space and help lift values are biding their time, sitting on the sidelines, Lim said. The increase in negative absorption comes despite the number of office jobs in Manhattan now exceeds pre-pandemic levels. And Savills Plc (SVS.L) said direct available office space in Manhattan now measures 70.4 million square feet, the highest in history.
Persons: Mike Segar, There's, Andrew Nelson, Andrew Lim, Lim, JLL, Nelson, Mark Berry, Kroll, Herbert Lash, Nick Zieminski Organizations: Empire, Vanderbilt, REUTERS, Reuters, Nelson Economics, Jones Lang LaSalle Inc, SOAR, Kroll Bond, Agency, Thomson Locations: Manhattan, New York City, U.S, Washington, New York
Some investors see India as the new China, but the South Asian economy still has to narrow a few gaps. These factors make it difficult for India to surpass China as the factory of the world. The country's potential appears brighter after its population surpassed China's, prompting many observers to tout the South Asian country as the next economy to watch. There's so much optimism about India that Goldman Sachs forecasts India's economy will surpass the US by 2075. Here are four ways India is still playing catch-up to its Asian rival, China.
Persons: Goldman Sachs, Pramit Chaudhuri, Chaudhuri, Narendra Modi's, hasn't, Eurasia Group's Chaudhuri, Ashutosh Sharma, Forrester Organizations: Service, Eurasia Group, Swiss, UBS, East, China, US International Trade Administration, Bank Locations: India, China, Wall, Silicon, South Asia, China's, Eurasia
Recent data reveals inflation is cooling, the labor market is slowing, and a recession may not come after all. Inflation data released Wednesday showed that inflation is coming down fast. The Fed may be pleased by this data, though a rate hike may still be on the table later this month. Other measures also show that the job market is still very healthy. The Fed may be happy to see slower job growth and the prime-age labor force participation rate rising, Bunker said.
Persons: doesn't, Julia Pollak, Nick Bunker, Bunker, Jerome Powell, Bill Adams, Pollak, " Pollak, Powell Organizations: Service, Labor, Survey, North America, Federal, Consumer, CPI, National Federation of Independent Business, Congress, Fed, Comerica Bank, Comerica Locations: Wall, Silicon
REUTERS/Kevin Lamarque/File PhotoNEW YORK, July 11 (Reuters) - Wall Street banks are expected to report higher profits for the second quarter as rising interest payments offset a downturn in dealmaking. Results for investment banking behemoths will also weaken, with EPS forecast to drop almost 59% at Goldman Sachs (GS.N). That offsets the doldrums in investment banking, where revenues have been depressed by rising interest rates and economic uncertainty. Reuters GraphicsBanking executives have also lowered expectations for the second quarter after mergers, acquisitions and debt offerings plunged in recent months. "We see higher credit risk ahead for lower to middle class families with higher credit card debt that cannot keep pace with higher living costs," Leon added.
Persons: Kevin Lamarque, Goldman Sachs, Morgan Stanley's, David Konrad, Keefe, Goldman, Stephen Biggar, Wells, Morgan Stanley, Betsy Graseck, Kenneth Leon, Leon, Konrad, Nupur Anand, Saeed Azhar, Niket, Lananh Nguyen, Marguerita Choy, Andrea Ricci Organizations: Bank of America, REUTERS, JPMorgan, . Bank of America's, Citigroup, Universal, Argus Research, JPMorgan Chase, Reuters Graphics Banking, Federal Reserve, CFRA Research, Investors, Thomson Locations: Washington, Wells, Refinitiv, Wells Fargo, U.S, New York, Bengaluru
The US jobs market saw less jobs added in June than in May. The unemployment rate fell from 3.7% in May to 3.6% in June. After the unemployment rate soared from 3.4% in April to 3.7% in May, the rate dropped. June's unemployment rate was 3.6%, equivalent to the forecast of 3.6%. The Bureau of Labor Statistics published new job openings and quits data on Thursday.
Persons: , Mark Hamrick, Bankrate, that's, Nick Bunker Organizations: Service, Bureau of Labor Statistics, Labor, Labor Statistics, North America
Americans named Leonardo DiCaprio the most trustworthy climate authority in an online survey. The climate crisis and the movie "Titanic" have at least one thing in common: They've been the subject of passionate debates for decades. In an online survey, Americans named Leonardo DiCaprio the most trustworthy famous authority on climate change and other environmental issues. In 2021, DiCaprio starred in "Don't Look Up," a film that satirizes how powerful politicians, corporations, and the media have responded to the climate crisis. The film is part of a recent shift in how the climate crisis is portrayed on TV and in movies, Navaratnam-Blair said.
Persons: Leonardo DiCaprio, They've, Jack could've, DiCaprio, Greta Thunberg, Al Gore, Dwayne, Johnson, Joe Biden, Fergus Navaratnam, Blair, Navaratnam, BuzzFeed, Page, Jennifer Lawrence, Gore Organizations: National Research Group, National Research, Hollywood, Earth Alliance Locations: Hollywood, Glasgow, Scotland
Meta launched Threads social media platform — its answer to Twitter — on Wednesday. 10 million users signed up for Threads in the first seven hours of its launch, per CEO Mark Zuckerberg. Analysts say it could be tough for Threads to outshine Twitter's existing power user base. And even though Threads launching at an advantageous time, at least four Wall Street analysts say it could be challenging to outshine the incumbent. After all, it could be difficult to get Twitter users to move, Billy Duberstein, a portfolio manager at Stone Oak Capital, wrote on the Motley Fool website on Wednesday.
Persons: Meta, Mark Zuckerberg, Elon Musk, Daniel Newman, Newman, hough, witter, ost.News,, ike P roulx,, rove, ames, rian W ieser, Organizations: Twitter, Morning, Elon, Meta, Futurum, Wall Street, otley, NBC
American workers are still quitting their jobs, per Bureau of Labor Statistics data. The Bureau of Labor Statistics' newly released monthly Job Openings and Labor Turnover Survey shows that job openings are still high, even though they dropped slightly from April. Plus, the number of workers quitting their jobs actually grew in May, all while layoffs stayed near historic lows. It signals a labor market where workers — especially blue-collar workers — still feel comfortable leaving their jobs, with plenty of opportunities awaiting them, including remote and hybrid options. The sector — which houses, in part, tech workers — was one industry among a handful that saw a dip in its quit rate.
Persons: , Nick Bunker, it's, Bunker, Joanne Hsu, Hsu, There's Organizations: Labor Statistics, Service, Privacy, Labor, Survey, Bureau of Labor Statistics, University of Michigan, Consumers
All that could change with a new $12 phone from Reliance Jio this week. India is already the world's second-largest smartphone market and is likely to add 300 million new internet users, making it the fastest country to provide internet services to those who remain unconnected, Mishra said. "However, screen size can limit the experience a bit, but still good for first-time internet users." Reliance Jio has rolled out 5G services in 406 cities in India. Additionally, Singh highlighted that Reliance Jio hopes first-time internet users who purchase the Jio Bharat will eventually upgrade to more advanced phones down the road.
Persons: Mukherjee, Akash Ambani, Jio Bharat, Varun Mishra, Mishra, Navkendar Singh, Singh, Jio, Bharat, There's, Nikhil Batra, Batra, Research's Mishra Organizations: International Data Corporation, Afp, Getty, Reliance, Reliance Industries, Counterpoint Research, CNBC, Vodafone, Aditya Birla Group, Vodafone Group —, BSNL, IDC, Nurphoto, Macquarie Research, Vodafone Idea, Bharti Airtel, Macquarie, Jio, Airtel Locations: India, Jio, Delhi, Mumbai, Kolkata, Bihar, Jammu, Kashmir, Himachal Pradesh
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