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-"Paramount and Skydance inch closer to a merger as key hurdle looms, sources say",https://www.cnbc.com/2024/04/25/paramount-skydance-inch-closer-to-a-merger-agreement.html,2024-04-25T21:14:50+0000,"In this articleParamount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone, according to people familiar with the matter.Paramount Global's special committee, in charge of accepting or rejecting transactions, and David Ellison's Skydance Media, backed by private equity firms KKR and RedBird Capital Partners, are narrowing in on how to value Skydance's assets as part of a merger, as well as how much equity to add to the company as part of a recapitalization, the people told CNBC.The sides are close to agreeing on a value for Skydance, said the people, who asked not to be named because the discussions are private. The entertainment company would be valued at around $5 billion and merged with Paramount Global, they said. Skydance CEO Ellison and the private equity firms plan to raise roughly $4.5 billion to $5 billion in new equity, the people said; some of that — about $2 billion — would be used to pay Redstone, and another substantial portion would be used to pay down debt.The buyers would ideally like to get a deal done in May, said the people. Three of the people said that Paramount Global was slow to provide data during due diligence to the Skydance consortium, which has slightly pushed back the timeline on a deal. The exclusivity window on merger talks ends May 3, but the Skydance consortium wants to extend it by two weeks, said the people.Skydance plans to name Ellison as CEO of Paramount Global and former NBCUniversal CEO Jeff Shell as president, said two of the people. Current Paramount CEO Bob Bakish would depart the company, the people said.Separately, private equity firm Apollo Global Management and Sony have held preliminary discussions about teaming up for a deal that would buy out all Paramount Global shareholders at a premium, according to people familiar with the matter. The special committee hasn't received concrete details on that offer and isn't viewing it as a competitive bid to Skydance's interest, two of the people said.Still, the committee had more details on an initial offer made by Apollo, which it chose to ignore in favor of exclusive talks with Skydance, one of the people said. The special committee favored Skydance's offer over Apollo's in part because it offered shareholders future upside by keeping the company public with a cleaner balance sheet, the person said.Spokespeople for Apollo, the Paramount Global special committee, Paramount Global, and Skydance's consortium declined to comment.One significant hurdle that remains is Paramount Global's renewal agreement with Charter Communications for CBS and its cable networks. That deal is relevant to the value of Paramount Global, which could take a hit if Charter drops the networks or agrees to a lower carriage rate, the people said.The deadline for that agreement is April 30. Paramount Global reports first-quarter earnings one day earlier, on April 29.Paramount Global is still dependent on its traditional TV business, which accounts for about two-thirds of the company's total revenue.There are signs Charter could prove to be a tough negotiator with Paramount Global: Last year the cable provider, the second-largest in the U.S., briefly stopped carrying Disney's networks when renewal negotiations between those two companies faltered. The parties reached a deal 10 days later.Paramount's cable networks are far less popular than Disney's ESPN, which may put Bakish in a position of weakness.The timing of the renewal and the deal talks set up an awkward dynamic, where Bakish, who would ultimately leave the company under a Skydance merger, will control Paramount Global's fate with Charter.Thus far, Bakish has always reached renewal deals with the major pay-TV distributors since taking over as CEO, dating back to his time running Viacom, beginning in 2016.Bakish has privately argued against the Skydance deal because it dilutes common shareholders, according to people familiar with the matter. Several Paramount Global investors have also publicly written letters to the company's board urging directors not to move forward with a Skydance deal, arguing it gives Redstone a massive premium for her controlling shares while leaving common shareholders out in the cold.Under the terms of the deal, nearly 50% of the company would be owned by Skydance and its private equity partners, CNBC reported April 5. The rest of the company would be owned by common shareholders, and the company would continue to trade publicly.""At Paramount, we're always looking for ways to create shareholder value. And to be clear, that's for all shareholders,"" Bakish said during his company's most recent earnings call, in February.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,25/04/2024,"['In this articleParamount Global and Skydance Media are making progress on a deal that would merge the media companies and buy out controlling shareholder Shari Redstone, according to people familiar with the matter.', ""Paramount Global's special committee, in charge of accepting or rejecting transactions, and David Ellison's Skydance Media, backed by private equity firms KKR and RedBird Capital Partners, are narrowing in on how to value Skydance's assets as part of a merger, as well as how much equity to add to the company as part of a recapitalization, the people told CNBC.The sides are close to agreeing on a value for Skydance, said the people, who asked not to be named because the discussions are private."", 'The entertainment company would be valued at around $5 billion and merged with Paramount Global, they said.', 'Skydance CEO Ellison and the private equity firms plan to raise roughly $4.5 billion to $5 billion in new equity, the people said; some of that — about $2 billion — would be used to pay Redstone, and another substantial portion would be used to pay down debt.', 'The buyers would ideally like to get a deal done in May, said the people.', 'Three of the people said that Paramount Global was slow to provide data during due diligence to the Skydance consortium, which has slightly pushed back the timeline on a deal.', 'The exclusivity window on merger talks ends May 3, but the Skydance consortium wants to extend it by two weeks, said the people.', 'Skydance plans to name Ellison as CEO of Paramount Global and former NBCUniversal CEO Jeff Shell as president, said two of the people.', 'Current Paramount CEO Bob Bakish would depart the company, the people said.', 'Separately, private equity firm Apollo Global Management and Sony have held preliminary discussions about teaming up for a deal that would buy out all Paramount Global shareholders at a premium, according to people familiar with the matter.', ""The special committee hasn't received concrete details on that offer and isn't viewing it as a competitive bid to Skydance's interest, two of the people said."", 'Still, the committee had more details on an initial offer made by Apollo, which it chose to ignore in favor of exclusive talks with Skydance, one of the people said.', ""The special committee favored Skydance's offer over Apollo's in part because it offered shareholders future upside by keeping the company public with a cleaner balance sheet, the person said."", ""Spokespeople for Apollo, the Paramount Global special committee, Paramount Global, and Skydance's consortium declined to comment."", ""One significant hurdle that remains is Paramount Global's renewal agreement with Charter Communications for CBS and its cable networks."", 'That deal is relevant to the value of Paramount Global, which could take a hit if Charter drops the networks or agrees to a lower carriage rate, the people said.', 'The deadline for that agreement is April 30.', ""Paramount Global reports first-quarter earnings one day earlier, on April 29.Paramount Global is still dependent on its traditional TV business, which accounts for about two-thirds of the company's total revenue."", ""There are signs Charter could prove to be a tough negotiator with Paramount Global: Last year the cable provider, the second-largest in the U.S., briefly stopped carrying Disney's networks when renewal negotiations between those two companies faltered."", 'The parties reached a deal 10 days later.', ""Paramount's cable networks are far less popular than Disney's ESPN, which may put Bakish in a position of weakness."", ""The timing of the renewal and the deal talks set up an awkward dynamic, where Bakish, who would ultimately leave the company under a Skydance merger, will control Paramount Global's fate with Charter."", 'Thus far, Bakish has always reached renewal deals with the major pay-TV distributors since taking over as CEO, dating back to his time running Viacom, beginning in 2016.Bakish has privately argued against the Skydance deal because it dilutes common shareholders, according to people familiar with the matter.', ""Several Paramount Global investors have also publicly written letters to the company's board urging directors not to move forward with a Skydance deal, arguing it gives Redstone a massive premium for her controlling shares while leaving common shareholders out in the cold."", 'Under the terms of the deal, nearly 50% of the company would be owned by Skydance and its private equity partners, CNBC reported April 5.', 'The rest of the company would be owned by common shareholders, and the company would continue to trade publicly.', '""At Paramount, we\'re always looking for ways to create shareholder value.', 'And to be clear, that\'s for all shareholders,"" Bakish said during his company\'s most recent earnings call, in February.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.2275447691168776,"Paramount Global's special committee, in charge of accepting or rejecting transactions, and David Ellison's Skydance Media, backed by private equity firms KKR and RedBird Capital Partners, are narrowing in on how to value Skydance's assets as part of a merger, as well as how much equity to add to the company as part of a recapitalization, the people told CNBC.The sides are close to agreeing on a value for Skydance, said the people, who asked not to be named because the discussions are private.","Thus far, Bakish has always reached renewal deals with the major pay-TV distributors since taking over as CEO, dating back to his time running Viacom, beginning in 2016.Bakish has privately argued against the Skydance deal because it dilutes common shareholders, according to people familiar with the matter.",-0.4220497012138366,"The special committee favored Skydance's offer over Apollo's in part because it offered shareholders future upside by keeping the company public with a cleaner balance sheet, the person said.","Paramount's cable networks are far less popular than Disney's ESPN, which may put Bakish in a position of weakness.",2024-04-26
-FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings,https://www.cnbc.com/2024/04/22/ftc-sues-to-block-tapestry-acquisition-of-capri-holdings.html,2024-04-22T21:58:59+0000,"The U.S. Federal Trade Commission on Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry.The move by regulators brings at least a temporary halt to a deal that would marry two major names in American luxury retail and put six fashion brands under a single company: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors. With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton.In a news release, the FTC said the combined company would harm shoppers and employees. It said Tapestry and Capri ""currently compete on everything from clothing to eyewear to shoes.""""With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,"" Henry Liu, director of the FTC's Bureau of Competition, said in the release. ""This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions.""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.""In a statement, the company said it must win the business of consumers who increasingly shop across brands, channels and price points.""The bottom line is that Tapestry and Capri face competitive pressures from both lower- and higher-priced products,"" it said. ""In bringing this case, the FTC has chosen to ignore the reality of today's dynamic and expanding $200 billion global luxury industry.""Capri echoed that argument in its own statement, saying consumers ""have hundreds of handbag choices at every price point across all channels, and barriers to entry are low.""Tapestry and Capri both said they will fight for the transaction in court, with Tapestry saying it will work ""expeditiously to close the transaction in calendar year 2024.""Tapestry announced the proposed acquisition in August. The deal had been expected to close in 2024. It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.When Tapestry unveiled the deal, CEO Joanne Crevoiserat told CNBC that the combined companies would be able to reach more customers across the globe. Together, the two companies would have over $12 billion in annual revenue and a presence in more than 75 countries.Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending. Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers.Led by Crevoiserat, Tapestry has raised the profile of Coach's brand, attracted younger shoppers, and tried to lean on fashion and loyalty, rather than deep discounts, to drive higher sales and profits. The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter.As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.",CNBC,22/04/2024,"[""The U.S. Federal Trade Commissionon Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry."", ""The move by regulators brings at least a temporary halt to a deal that would marry two major names in American luxury retail and put six fashion brands under a single company: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors."", ""With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton."", 'In a news release, the FTC said the combined company would harm shoppers and employees.', 'It said Tapestry and Capri ""currently compete on everything from clothing to eyewear to shoes.', '""""With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,"" Henry Liu, director of the FTC\'s Bureau of Competition, said in the release. ""', 'This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions.', '""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.', '""In a statement, the company said it must win the business of consumers who increasingly shop across brands, channels and price points.', '""The bottom line is that Tapestry and Capri face competitive pressures from both lower- and higher-priced products,"" it said. ""', ""In bringing this case, the FTC has chosen to ignore the reality of today's dynamic and expanding $200 billion global luxury industry."", '""Capri echoed that argument in its own statement, saying consumers ""have hundreds of handbag choices at every price point across all channels, and barriers to entry are low.', '""Tapestry and Capri both said they will fight for the transaction in court, with Tapestry saying it will work ""expeditiously to close the transaction in calendar year 2024.""Tapestry announced the proposed acquisition in August.', 'The deal had been expected to close in 2024.', 'It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.', 'When Tapestry unveiled the deal, CEO Joanne Crevoiserat told CNBC that the combined companies would be able to reach more customers across the globe.', 'Together, the two companies would have over $12 billion in annual revenue and a presence in more than 75 countries.', 'Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending.', 'Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers.', ""Led by Crevoiserat, Tapestry has raised the profile of Coach's brand, attracted younger shoppers, and tried to lean on fashion and loyalty, rather than deep discounts, to drive higher sales and profits."", ""The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter."", ""As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.""]",-0.0241006633612018,"It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.","""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.",0.033528881413596,"As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.","Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending.",2024-04-26
-Chipotle posts big earnings beat as diners shake off higher prices,https://www.cnbc.com/2024/04/24/chipotle-mexican-grill-cmg-q1-2024-earnings.html,2024-04-24T22:10:02+0000,"In this articleChipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants.The stock rose 4% in extended trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Chipotle reported first-quarter net income of $359.3 million, or $13.01 per share, up from $291.6 million, or $10.50 per share, a year earlier.Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.Net sales climbed 14.1% to $2.7 billion.The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%. Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%.In February, Chief Financial Officer Jack Hartung told analysts that ""unusually cold weather"" hurt January sales. But demand rebounded in the rest of the quarter to offset the sluggish first month.Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices. The company once again raised its prices in October, citing inflation. Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.CEO Brian Niccol said the company saw traffic growth across income groups during the quarter. He credited the chain's value perception among diners. Previously, executives have also emphasized that most of its customers come from higher-income brackets.Earlier this month, Chipotle raised prices in California roughly 7% to offset the state's higher minimum wage for fast-food workers, but the company does not have plans for any more hikes, Niccol said on CNBC's ""Closing Bell"" on Wednesday.Chipotle has also been focusing on making its burritos and bowls more quickly, improving the industry metric known as throughput. Niccol said throughput reached its highest level in four years during the first quarter.The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.For the full year, Chipotle now anticipates same-store sales will grow by a mid-to-high single-digit percentage, up from its prior range of a mid-single-digit increase. The company reiterated its forecast of 285 to 315 new locations in 2024.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history. The company is seeking shareholder approval at its annual meeting on June 6. If investors vote ""yes,"" the stock will start trading on a post-split basis on June 26.",CNBC,24/04/2024,"[""In this articleChipotle Mexican Grill on Wednesday reported quarterlyearningsand revenue that beat analysts' expectations, fueled by higher traffic to its restaurants."", 'The stock rose 4% in extended trading.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Chipotle reported first-quarter net income of $359.3 million, or $13.01 per share, up from $291.6 million, or $10.50 per share, a year earlier."", 'Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.', 'Net salesclimbed14.1% to $2.7 billion.', ""The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%."", 'Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%.In February, Chief Financial Officer Jack Hartung told analysts that ""unusually cold weather"" hurt January sales.', 'But demand rebounded in the rest of the quarter to offset the sluggish first month.', 'Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices.', 'The company once again raised its prices in October, citing inflation.', 'Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.', 'CEO Brian Niccol said the company saw traffic growth across income groups during the quarter.', ""He credited the chain's value perception among diners."", 'Previously, executives have also emphasized that most of its customers come from higher-income brackets.', 'Earlier this month, Chipotle raised prices in California roughly 7% to offset the state\'s higher minimum wage for fast-food workers, but the company does not have plans for any more hikes, Niccol said on CNBC\'s ""Closing Bell"" on Wednesday.', 'Chipotle has also been focusing on making its burritos and bowls more quickly, improving the industry metric known as throughput.', 'Niccol said throughput reached its highest level in four years during the first quarter.', 'The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.', 'For the full year, Chipotle now anticipates same-store sales will grow by a mid-to-high single-digit percentage, up from its prior range of a mid-single-digit increase.', ""The company reiterated its forecast of 285 to 315 new locations in 2024.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history."", 'The company is seeking shareholder approval at its annual meeting on June 6.', 'If investors vote ""yes,"" the stock will start trading on a post-split basis on June 26.']",0.1267962532755779,He credited the chain's value perception among diners.,But demand rebounded in the rest of the quarter to offset the sluggish first month.,0.852291489348692,"The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%.",Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices.,2024-04-26
-"Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending",https://www.cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html,2024-04-23T15:51:01+0000,"In this articleWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer's more than 4,600 U.S. stores, CNBC has learned.The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider of installment loans for Walmart customers since 2019. It's a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks.It also likely signals that a battle is brewing in the store aisles and ecommerce portals of America's largest retailer. At stake is the role of a wide spectrum of players, from fintech firms to card companies and established banks.One's push into lending is the clearest sign yet of its ambition to become a financial superapp, a mobile one-stop shop for saving, spending and borrowing money.Since it burst onto the scene in 2021, luring Goldman Sachs veteran Omer Ismail as CEO, the fintech startup has intrigued and threatened a financial landscape dominated by banks — and poached talent from more established lenders and payments firms.But the company, based out of a cramped Manhattan WeWork space, has operated mostly in stealth mode while developing its early products, including a debit account released in 2022.Now, One is going head-to-head with some of Walmart's existing partners like Affirm who helped the retail giant generate $648 billion in revenue last year.On a recent visit by CNBC to a New Jersey Walmart location, ads for both One and Affirm vied for attention among the Apple products and Android smartphones in the store's electronics section.Offerings from both One and Affirm were available at checkout, and loans from either provider were available for purchases starting at around $100 and costing as much as several thousand dollars at an annual interest rate of between 10% to 36%, according to their respective websites.Electronics, jewelry, power tools and automotive accessories are eligible for the loans, while groceries, alcohol and weapons are not.Buy now, pay later has gained popularity with consumers for everyday items as well as larger purchases. From January through March of this year, BNPL drove $19.2 billion in online spending, according to Adobe Analytics. That's a 12% year-over-year increase.Walmart and One declined to comment for this article.One's expanding role at Walmart raises the possibility that the company could force Affirm, Capital One and other third parties out of some of the most coveted partnerships in American retail, according to industry experts.""I have to imagine the goal is to have all this stuff, whether it's a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart's physical footprint,"" said Jason Mikula, a consultant formerly employed at Goldman's consumer division.Affirm declined to comment about its Walmart partnership. Shares of Affirm climbed 2% Tuesday, rebounding after falling more than 8% in premarket activity.For Walmart, One is part of its broader effort to develop new revenue sources beyond its retail stores in areas including finance and health care, following rival Amazon's playbook with cloud computing and streaming, among other segments. Walmart's newer businesses have higher margins than retail and are a part of its plan to grow profits faster than sales.In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.When it comes to finance, One is just Walmart's latest attempt to break into the banking business. Starting in the 1990s, Walmart made repeated efforts to enter the industry through direct ownership of a banking arm, each time getting blocked by lawmakers and industry groups concerned that a ""Bank of Walmart"" would crush small lenders and squeeze big ones.To sidestep those concerns, Walmart adopted a more arms-length approach this time around. For One, the retailer created a joint venture with investment firm firm Ribbit Capital — known for backing fintech firms including Robinhood, Credit Karma and Affirm — and staffed the business with executives from across finance.Walmart has not disclosed the size of its investment in One.The startup has said that it makes decisions independent of Walmart, though its board includes Walmart U.S. CEO, John Furner, and its finance chief, John David Rainey.One doesn't have a banking license, but partners with Coastal Community Bank for the debit card and installment loans.After its failed early attempts in banking, Walmart pursued a partnership strategy, teaming up with a constellation of providers, including Capital One, Synchrony, MoneyGram, Green Dot, and more recently, Affirm. Leaning on partners, the retailer opened thousands of physical MoneyCenter locations within its stores to offer check cashing, sending and receiving payments, and tax services.But Walmart and One executives have made no secret of their ambition to become a major player in financial services by leapfrogging existing players with a clean-slate effort.One's no-fee approach is especially relevant to low- and middle-income Americans who are ""underserved financially,"" Rainey, a former PayPal executive, noted during a December conference.""We see a lot of that customer demographic, so I think it gives us the ability to participate in this space in maybe a way that others don't,"" Rainey said. ""We can digitize a lot of the services that we do physically today. One is the platform for that.""One could generate roughly $1.6 billion in annual revenue from debit cards and lending in the near term, and more than $4 billion if it expands into investing and other areas, according to Morgan Stanley.Walmart can use its scale to grow One in other ways. It is the largest private employer in the U.S. with about 1.6 million employees, and it already offers its workers early access to wages if they sign up for a corporate version of One.There are signs that One is making a deeper push into lending beyond installment loans.Walmart recently prevailed in a legal dispute with Capital One, allowing the retailer to end its credit-card partnership years ahead of schedule. Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.The lawsuit led to speculation that Walmart intends to have One take over management of the retailer's co-branded and store cards. In fact, in legal filings Capital One itself alleged that Walmart's rationale was less about servicing complaints and more about moving transactions to a company it owns.""Upon information and belief, Walmart intends to offer its branded credit cards through One in the future,"" Capital One said last year in response to Walmart's suit. ""With One, Walmart is positioning itself to compete directly with Capital One to provide credit and payment products to Walmart customers.""Capital One said last month that it could appeal the decision. The company declined to comment further.Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.""One has obtained lending licenses that allow it to operate in nearly every U.S. state, according to filings and its website. The company's app tells users that credit building and credit score monitoring services are coming soon.And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive.Fintech players including Block's Cash App, PayPal and Chime dominate account growth among people who switch bank accounts and have made inroads with Walmart's core demographic. The three services made up 60% of digital player signups last year, according to data and consultancy firm Curinos.But One has the advantage of being majority owned by a company whose customers make more than 200 million visits a week.It can offer them enticements including 3% cashback on Walmart purchases and a savings account that pays 5% interest annually, far higher than most banks, according to customer emails from One.Those terms keep customers spending and saving within the Walmart ecosystem and helps the retailer better understand them, Morgan Stanley analysts said in a 2022 research note.""One has access to Walmart's sizable and sticky customer base, the largest in retail,"" the analysts wrote. ""This captive and underserved customer base gives One a leg up vs. other fintechs.""",CNBC,23/04/2024,"[""In this articleWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer's more than 4,600 U.S. stores, CNBC has learned."", 'The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider ofinstallment loans for Walmart customers since 2019.', ""It's a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks."", ""It also likely signals that a battle is brewing in the store aisles and ecommerce portals of America's largest retailer."", 'At stake is the role of a wide spectrum of players, from fintech firms to card companies and established banks.', ""One's push into lending is the clearest sign yet of its ambition to become a financial superapp, a mobile one-stop shop for saving, spending and borrowing money."", 'Since it burst onto the scene in 2021, luring Goldman Sachs veteran Omer Ismail as CEO, the fintech startup has intrigued and threatened a financial landscape dominated by banks — and poached talent from more established lenders and payments firms.', ""But the company, based out of a cramped Manhattan WeWork space, has operated mostly in stealth mode while developing its early products, including a debit account released in 2022.Now, One is going head-to-head with some of Walmart's existing partners like Affirm who helped the retail giant generate $648 billion in revenue last year."", ""On a recent visit by CNBC to a New Jersey Walmart location, ads for both One and Affirm vied for attention among the Apple products and Android smartphones in the store's electronics section."", 'Offerings from both One and Affirm were available at checkout, and loans from either provider were available for purchases starting at around $100 and costing as much as several thousand dollars at an annual interest rate of between 10% to 36%, according to their respective websites.', 'Electronics, jewelry, power tools and automotive accessories are eligible for the loans, while groceries, alcohol and weapons are not.', 'Buy now, pay later has gained popularity with consumers for everyday items as well as larger purchases.', 'From January through March of this year, BNPL drove $19.2 billion in online spending, according to Adobe Analytics.', ""That's a 12% year-over-year increase."", 'Walmart and One declined to comment for this article.', ""One's expanding role at Walmart raises the possibility that the company could force Affirm, Capital One and other third parties out of some of the most coveted partnerships in American retail, according to industry experts."", '""I have to imagine the goal is to have all this stuff, whether it\'s a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart\'s physical footprint,"" said Jason Mikula, a consultant formerly employed at Goldman\'s consumer division.', 'Affirm declined to comment about its Walmart partnership.', 'Shares of Affirm climbed 2% Tuesday, rebounding after falling more than 8% in premarket activity.', ""For Walmart, One is part of its broader effort to develop new revenue sources beyond its retail stores in areas including finance and health care, following rival Amazon's playbook with cloud computing and streaming, among other segments."", ""Walmart's newer businesses have higher margins than retail and are a part of its plan to grow profits faster than sales."", 'In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.', ""When it comes to finance, One is just Walmart's latest attempt to break into the banking business."", 'Starting in the 1990s, Walmart made repeated efforts to enter the industry through direct ownership of a banking arm, each time getting blocked by lawmakers and industry groups concerned that a ""Bank of Walmart"" would crush small lenders and squeeze big ones.', 'To sidestep those concerns, Walmart adopted a more arms-length approach this time around.', 'For One, the retailer created a joint venture with investment firm firm Ribbit Capital — known for backing fintech firms including Robinhood, Credit Karma and Affirm — and staffed the business with executives from across finance.', 'Walmart has not disclosed the size of its investment in One.', 'The startup has said that it makes decisions independent of Walmart, though its board includes Walmart U.S. CEO, John Furner, and its finance chief, John David Rainey.', ""One doesn't have a banking license, but partners with Coastal Community Bank for the debit card and installment loans."", 'After its failed early attempts in banking, Walmart pursued a partnership strategy, teaming up with a constellation of providers, including Capital One, Synchrony, MoneyGram, Green Dot, and more recently, Affirm.', 'Leaning on partners, the retailer opened thousands of physical MoneyCenter locations within its stores to offer check cashing, sending and receiving payments, and tax services.', 'But Walmart and One executives have made no secret of their ambition to become a major player in financial services by leapfrogging existing players with a clean-slate effort.', 'One\'s no-fee approach is especially relevant to low- and middle-income Americans who are ""underserved financially,"" Rainey, a former PayPal executive, noted during a December conference.', '""We see a lot of that customer demographic, so I think it gives us the ability to participate in this space in maybe a way that others don\'t,"" Rainey said. ""', 'We can digitize a lot of the services that we do physically today.', 'One is the platform for that.', '""One could generate roughly $1.6 billion in annual revenue from debit cards and lending in the near term, and more than $4 billion if it expands into investing and other areas, according to Morgan Stanley.', 'Walmart can use its scale to grow One in other ways.', 'It is the largest private employer in the U.S. with about 1.6 million employees, and it already offers its workers early access to wages if they sign up for a corporate version of One.', 'There are signs that One is making a deeper push into lending beyond installment loans.', 'Walmart recently prevailed in a legal dispute with Capital One, allowing the retailer to end its credit-card partnership years ahead of schedule.', 'Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.', ""The lawsuit led to speculation that Walmart intends to have One take over management of the retailer's co-branded and store cards."", ""In fact, in legal filings Capital One itself alleged that Walmart's rationale was less about servicing complaints and more about moving transactions to a company it owns."", '""Upon information and belief, Walmart intends to offer its branded credit cards through One in the future,"" Capital One said last year in response to Walmart\'s suit. ""', 'With One, Walmart is positioning itself to compete directly with Capital One to provide credit and payment products to Walmart customers.', '""Capital One said last month that it could appeal the decision.', 'The company declined to comment further.', 'Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.', '""One has obtained lending licenses that allow it to operate in nearly every U.S. state, according to filings and its website.', ""The company's app tells users that credit building and credit score monitoring services are coming soon."", ""And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive."", ""Fintech players including Block's Cash App, PayPal and Chime dominate account growth among people who switch bank accounts and have made inroads with Walmart's core demographic."", 'The three services made up 60% of digital player signups last year, according to data and consultancy firm Curinos.', 'But One has the advantage of being majority owned by a company whose customers make more than 200 million visits a week.', 'It can offer them enticements including 3% cashback on Walmart purchases and a savings account that pays 5% interest annually, far higher than most banks, according to customer emails from One.', 'Those terms keep customers spending and saving within the Walmart ecosystem and helps the retailer better understand them, Morgan Stanley analysts said in a 2022 research note.', '""One has access to Walmart\'s sizable and sticky customer base, the largest in retail,"" the analysts wrote. ""', 'This captive and underserved customer base gives One a leg up vs. other fintechs.""']",0.1047730639049195,"Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.","Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.",0.5972028147606623,"In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.","And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive.",2024-04-26
-"Southwest cuts growth plans, warning effect of Boeing airplane delays will last into 2025",https://www.cnbc.com/2024/04/25/southwest-airlines-luv-earnings-q1-2024.html,2024-04-25T20:08:03+0000,"In this articleSouthwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into 2025.The airline expects to grow capacity 4% this year, down from a plan to expand 6%. For the second quarter, it forecast growth of 8% to 9% and said revenue would be down as much as 3.5%.Shares of Southwest slid almost 7% on Thursday. The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast of 46 of them. The carrier will now delay retiring some of its older Boeing planes and is cutting costs, including by offering staff voluntary time off. Southwest said it expects to end the year with 2,000 fewer employees than it had at the end of 2023.It will shut down operations at some airports, including in Syracuse, New York; Bellingham International Airport in Washington; Cozumel International Airport; and Houston's George Bush Intercontinental. The carrier is also scaling back service in Atlanta and at Chicago O'Hare International Airport.""Achieving our financial goals is an immediate imperative,"" CEO Bob Jordan said in an earnings release. ""The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. We are reacting and replanning quickly to mitigate the operational and financial impacts while maintaining dependable and reliable flight schedules for our Customers.""The Dallas-based carrier operates an all-Boeing 737 fleet and is acutely affected by Boeing's aircraft delays stemming from its safety and quality crises.The carrier had previously warned that slower Boeing deliveries were hampering its growth.Southwest is not only rethinking its network but also its business model. Jordan told CNBC that the airline might ditch its single-class cabin and open seating. While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.Here is how Southwest performed in the first quarter compared with Wall Street expectations, according to consensus estimates from LSEG:Southwest lost $231 million, or 39 cents a share, in the first three months of the year, compared with a loss of $159 million, or 27 cents a share, a year earlier when it was dealing with the aftermath of its holiday meltdown.Adjusting for one-time items, including costs related to labor contracts and fuel, Southwest lost $218 million, or 36 cents a share.Revenue rose almost 11% to $6.33 billion, slightly below analysts' estimates as compiled by LSEG.Correction: Southwest Airlines revenue of $6.33 billion came in slightly below analysts' estimates as compiled by LSEG.",CNBC,25/04/2024,"[""In this articleSouthwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into 2025.The airline expects to grow capacity 4% this year, down from a plan to expand 6%."", 'For the second quarter, it forecast growth of 8% to 9% and said revenue would be down as much as 3.5%.Shares of Southwest slid almost 7% on Thursday.', 'The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast of 46 of them.', 'The carrier will now delay retiring some of its older Boeing planes and is cutting costs, including by offering staff voluntary time off.', ""Southwest said it expects to end the year with 2,000 fewer employees than it had at the end of 2023.It will shut down operations at some airports, including in Syracuse, New York; Bellingham International Airport in Washington; Cozumel International Airport; andHouston's George Bush Intercontinental."", ""The carrier is also scaling back service in Atlanta and at Chicago O'Hare International Airport."", '""Achieving our financial goals is an immediate imperative,"" CEO Bob Jordan said in an earnings release. ""', 'The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024and 2025.', 'We are reacting and replanning quickly to mitigate the operational and financial impacts while maintaining dependable and reliable flight schedules for our Customers.', '""The Dallas-based carrier operates an all-Boeing 737 fleet and is acutely affected by Boeing\'s aircraft delays stemming from its safety and quality crises.', 'The carrier had previously warned that slower Boeing deliveries were hampering its growth.', 'Southwest is not only rethinking its network but also its business model.', 'Jordan told CNBC that the airline might ditch its single-class cabin and open seating.', 'While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.', 'Here is how Southwest performed in the first quarter compared with Wall Street expectations, according to consensus estimates from LSEG:Southwest lost $231 million, or 39 cents a share, in the first three months of the year, compared with a loss of $159 million, or 27 cents a share, a year earlier when it was dealing with the aftermath of its holiday meltdown.', 'Adjusting for one-time items, including costs related to labor contracts and fuel, Southwest lost $218 million, or 36 cents a share.', ""Revenue rose almost 11% to $6.33 billion, slightly below analysts' estimates as compiled by LSEG.Correction: Southwest Airlines revenue of $6.33 billion came in slightly below analysts' estimates as compiled by LSEG.""]",0.1153596879470297,"While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.","The carrier will now delay retiring some of its older Boeing planes and is cutting costs, including by offering staff voluntary time off.",-0.3292938907941182,"While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.","The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast of 46 of them.",2024-04-26
-What investors should know about the UAW's organizing drive of VW,https://www.cnbc.com/2024/04/22/uaw-vw-organizing-drive-what-investors-should-know.html,2024-04-22T20:21:56+0000,"In this articleDETROIT – The United Auto Workers notched a big win this weekend.Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking the Detroit union's first victory at a foreign-owned automaker plant in the South. The vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.""This is a really profound victory for the UAW and the labor movement in general,"" said Alex Hertel-Fernandez, a former Department of Labor official and an international and public affairs professor at Columbia University. ""It's also a really decisive victory.""Union organizing passed with 73% of the vote, or 2,628 workers, in support of the UAW, according to the National Labor Relations Board, which oversaw voting from Wednesday to Friday.The German automaker and union, barring any challenges to voting, are expected to move forward with bargaining over a contract for roughly 4,300 workers covered under the vote. The NLRB still needs to certify the results.Here's what investors should know about the vote and next steps for the UAW:The UAW saw the Friday vote as the union's best shot at organizing the VW plant following strikes and record contracts with General Motors, Ford Motor and Chrysler parent Stellantis in 2023.The union, led by President Shawn Fain, is using the deals with the Detroit automakers, which included record wage increases and benefits, as springboards for an unprecedented organizing drive of 13 non-union automakers in the U.S.Other than Volkswagen, the union is targeting: BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota and Volvo. The drive covers nearly 150,000 U.S. autoworkers, according to the UAW.""This is likely to be contagious,"" said Hertel-Fernandez. ""Where workers see successes in organizing or strikes, it tends to inspire further action in that industry and beyond it.""Next up for the union are 5,200 Mercedes-Benz workers at an SUV plant in Vance, Alabama. Workers at the facility earlier this month filed NLRB paperwork for a formal election that is scheduled for May 13 through May 17.""We're going to carry this fight on to Mercedes and everywhere else,"" Fain told VW workers Friday night following the historic vote. ""So, thank you all, thank you all for your fight, for your work. And let's get to it. Let's go to work. And let's win more for the working class all over this nation.""Top of the list of likely impacts from organizing efforts at VW is labor costs.UAW organizers used the record contracts with the Detroit automakers to gain support for the union in Chattanooga. UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.""But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive.GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW. Depending on contract details, labor pushes like VW and others could somewhat even that playing field.""Overall, given the substantial pay gap between UAW-unionized workers (Detroit-3) and non-unionized workers in the southern states, it can be assumed that the vote will lead to more upwards pressure on wages for VW over time,"" UBS said in an investor note.Before last year's contracts with the Detroit automakers, all-in labor costs for Ford, GM and Stellantis were between $63 and $67 an hour, according to industry experts. That compared with workers at non-domestic, or transplant, automakers such as VW at $55 an hour. Those costs included all benefits and health care costs.Still, there's no guarantee that VW – a much smaller automaker in the U.S. – will agree to the same terms as the traditional domestic automakers.Fain on Friday said ""the real fight begins now,"" referring to the expected negotiations between the union and VW.The VW vote was widely expected to be the easiest in the UAW's organizing plans, as the union had already established a presence there following votes that narrowly failed in 2019 and 2014.The margin of success in Chattanooga could bode well for UAW efforts at other automakers, according to Sharon Block, a professor at Harvard Law School and former DOL and NLRB official.""I think it's really hard to overestimate the importance of this moment and to overestimate just how strategic the UAW has been in this campaign, which I think suggests that this is not the last time that we're going to be talking about a UAW victory in an auto plant in the South,"" Block said.Though opposition during the VW vote was sparse, the most notable instance came a day before the election began, in the form of a letter from six Republican governors condemning the UAW's push to organize automotive factories in the South and warning of potential layoffs.""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. These jobs have become part of the fabric of the automotive manufacturing industry. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" read the statement, which was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.Fewer jobs in the U.S. automotive industry also means fewer eligible workers for union membership.Membership with the UAW at the Detroit automakers has significantly fallen in recent decades, as free trade agreements allowed automakers to produce vehicles for cheaper elsewhere.UAW membership, largely made up of autoworkers but also including workers in agriculture and aerospace, peaked at 1.5 million in 1979. As of last year, the union's membership was 370,239 workers – down 3.3% from 2022 and 75% from its peak. Workers from the Detroit automakers only made up roughly 150,000 of that 2023 total.– CNBC's Michael Bloom contributed to this report.",CNBC,22/04/2024,"['In this articleDETROIT – The United Auto Workers notched a big win this weekend.', ""Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking the Detroit union's first victory at a foreign-owned automaker plant in the South."", 'The vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.', '""This is a really profound victory for the UAW and the labor movement in general,"" said Alex Hertel-Fernandez, a former Department of Labor official and an international and public affairs professor at Columbia University. ""', ""It's also a really decisive victory."", '""Union organizing passed with 73% of the vote, or 2,628 workers, in support of the UAW, according to the National Labor Relations Board, which oversaw voting from Wednesday to Friday.', 'The German automaker and union, barring any challenges to voting, are expected to move forward with bargaining over a contract for roughly 4,300 workers covered under the vote.', 'The NLRB still needs to certify the results.', ""Here's what investors should know about the vote and next steps for the UAW:The UAW saw the Friday vote as the union's best shot at organizing the VW plant following strikes and record contracts with General Motors, Ford Motor and Chrysler parent Stellantis in 2023.The union, led by President Shawn Fain, is using the deals with the Detroit automakers, which included record wage increases and benefits, as springboards for an unprecedented organizing drive of 13 non-union automakers in the U.S.Other than Volkswagen, the union is targeting: BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota and Volvo."", 'The drive covers nearly 150,000 U.S. autoworkers, according to the UAW.""This is likely to be contagious,"" said Hertel-Fernandez. ""', 'Where workers see successes in organizing or strikes, it tends to inspire further action in that industry and beyond it.', '""Next up for the union are 5,200 Mercedes-Benz workers at an SUV plant in Vance, Alabama.', 'Workers at the facility earlier this month filed NLRB paperwork for a formal election that is scheduled for May 13 through May 17.""We\'re going to carry this fight on to Mercedes and everywhere else,"" Fain told VW workers Friday night following the historic vote. ""', 'So, thank you all, thank you all for your fight, for your work.', ""And let's get to it."", ""Let's go to work."", ""And let's win more for the working class all over this nation."", '""Top of the list of likely impacts from organizing efforts at VW is labor costs.', 'UAW organizers used the record contracts with the Detroit automakers to gain support for the union in Chattanooga.', 'UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.', '""But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive.', 'GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW.', 'Depending on contract details, labor pushes like VW and others could somewhat even that playing field.', '""Overall, given the substantial pay gap between UAW-unionized workers (Detroit-3) and non-unionized workers in the southern states, it can be assumed that the vote will lead to more upwards pressure on wages for VW over time,"" UBS said in an investor note.', ""Before last year's contracts with the Detroit automakers, all-in labor costs for Ford, GM and Stellantis were between $63 and $67 an hour, according to industry experts."", 'That compared with workers at non-domestic, or transplant, automakers such as VW at $55 an hour.', 'Those costs included all benefits and health care costs.', ""Still, there's no guarantee that VW – a much smaller automaker in the U.S. – will agree to the same terms as the traditional domestic automakers."", 'Fain on Friday said ""the real fight begins now,"" referring to the expected negotiations between the union and VW.The VW vote was widely expected to be the easiest in the UAW\'s organizing plans, as the union had already established a presence there following votes that narrowly failed in 2019 and 2014.The margin of success in Chattanooga could bode well for UAW efforts at other automakers, according to Sharon Block, a professor at Harvard Law School and former DOL and NLRB official.', '""I think it\'s really hard to overestimate the importance of this moment and to overestimate just how strategic the UAW has been in this campaign, which I think suggests that this is not the last time that we\'re going to be talking about a UAW victory in an auto plant in the South,"" Block said.', ""Though opposition during the VW vote was sparse, the most notable instance came a day before the election began, in the form of a letter from six Republican governors condemning the UAW's push to organize automotive factories in the South and warning of potential layoffs."", '""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states.', 'These jobs have become part of the fabric of the automotive manufacturing industry.', 'Unionization would certainly put our states\' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" read the statement, which was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.', 'Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.', 'Fewer jobs in the U.S. automotive industry also means fewer eligible workers for union membership.', 'Membership with the UAW at the Detroit automakers has significantly fallen in recent decades, as free trade agreements allowed automakers to produce vehicles for cheaper elsewhere.', 'UAW membership, largely made up of autoworkers but also including workers in agriculture and aerospace, peaked at 1.5 million in 1979.', ""As of last year, the union's membership was 370,239 workers – down 3.3% from 2022 and 75% from its peak."", 'Workers from the Detroit automakers only made up roughly 150,000 of that 2023 total.–', ""CNBC's Michael Bloom contributed to this report.""]",0.1384780391661381,In this articleDETROIT – The United Auto Workers notched a big win this weekend.,"Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.",0.208338725566864,In this articleDETROIT – The United Auto Workers notched a big win this weekend.,"UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.",2024-04-26
-BHP proposes £31bn takeover of Anglo American,https://www.bbc.co.uk/news/articles/czrxm4pljlwo,2024-04-25T02:10:41.618Z,"UK-based mining giant Anglo American has been approached by rival BHP about a potential £31bn takeover. Anglo American told the BBC that the proposal is currently being reviewed by its board of directors. BHP confirmed the proposal which it said would give it access to ""Anglo American's world class copper assets"". If the deal goes ahead it would be one of the mining industry's biggest mergers in many years. Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - had a stock market value of around £29bn before the approach was made public. Australian-based BHP is the world’s largest publicly listed mining company with a  market valuation of about A$229bn (£119.5bn). The move comes a year after BHP bought copper producer Oz Minerals for A$9.6bn. If finalised, the deal would increase BHP's access to copper, through Anglo American's operations in South America. The price of copper has risen on the global markets by more than 15% this year. Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""Anglo American's existing footprint in the copper industry is ultimately what lured a mining giant such as BHP,"" said Tim Waterer, chief market analyst at financial services firm KCM Trade. Anglo American's share price had fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added. Susannah Streeter from investment platform Hargreaves Lansdown said BHP's takeover plan ""will send a fresh chill through the City of London"". Anglo American is listed on the London Stock Exchange. BHP used to be listed in both the UK and Australia but in 2022 shifted its primary listing to Sydney. ""There are concerns that if the deal goes through it could be the tip of the iceberg and more giants could leave the exchange."" Anglo American's share price jumped by more than 12% to £24.86 in early trading on Thursday. BHP's proposal makes any offer conditional on Anglo American giving up its stakes in platinum and iron ore operations in South Africa. Under the UK's merger and acquisition rules, BHP has until the close of business on 22 May to make a formal offer for Anglo American.  ",BBC,25/04/2024,"['UK-based mining giant Anglo American has been approached by rival BHP about a potential £31bn takeover.', 'Anglo American told the BBC that the proposal is currently being reviewed by its board of directors.', 'BHP confirmed the proposal which it said would give it access to ""Anglo American\'s world class copper assets"".', ""If the deal goes ahead it would be one of the mining industry's biggest mergers in many years."", 'Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - had a stock market value of around £29bn before the approach was made public.', 'Australian-based BHP is the world’s largest publicly listed mining company with a market valuation of about A$229bn (£119.5bn).', 'The move comes a year after BHP bought copper producer Oz Minerals for A$9.6bn.', ""If finalised, the deal would increase BHP's access to copper, through Anglo American's operations in South America."", 'The price of copper has risen on the global markets by more than 15% this year.', 'Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""', 'Anglo American\'s existing footprint in the copper industry is ultimately what lured a mining giant such as BHP,"" said Tim Waterer, chief market analyst at financial services firm KCM Trade.', ""Anglo American's share price had fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added."", 'Susannah Streeter from investment platform Hargreaves Lansdown said BHP\'s takeover plan ""will send a fresh chill through the City of London"".', 'Anglo American is listed on the London Stock Exchange.', 'BHP used to be listed in both the UK and Australia but in 2022 shifted its primary listing to Sydney. ""', 'There are concerns that if the deal goes through it could be the tip of the iceberg and more giants could leave the exchange.""', ""Anglo American's share price jumped by more than 12% to £24.86 in early trading on Thursday."", ""BHP's proposal makes any offer conditional on Anglo American giving up its stakes in platinum and iron ore operations in South Africa."", ""Under the UK's merger and acquisition rules, BHP has until the close of business on 22 May to make a formal offer for Anglo American.""]",0.1516007605574018,"Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - had a stock market value of around £29bn before the approach was made public.",,0.3208411484956741,"Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""","Susannah Streeter from investment platform Hargreaves Lansdown said BHP's takeover plan ""will send a fresh chill through the City of London"".",2024-04-26
-Why green steam is a hot issue for business,https://www.bbc.co.uk/news/business-68687140,2024-04-25T23:36:47.000Z,"Colorado-based New Belgium Brewing can trace its roots to 1988 and a cycle trip through Belgium.  The experience inspired co-founders Kim Jordan and Jeff Lebesch to bring Belgian brewing techniques back to their home town. Three years later and the duo were selling Fat Tire, one of their first beers at a local festival, and they now have over a dozen beers in production. But while they have spent 30 years creating flavours unique to the US market, they have at least one thing in common with all brewers - the use of steam. Steam is used to sanitise their brewing equipment, as well as being a key part of the brewing process. Large cone-shaped kettles are used to boil wort - liquid extracted from the initial brewing stage of mashing barley - generating steam. This boiling process helps to remove flavours the brewer does not want in the beer, before the wort is transferred to vessels to ferment with yeast, resulting in beer. Some of the steam generated by the kettles is captured by a heat exchanger, which allows the brewer to use this waste heat in the next batch of brewing. The driving force behind the industrial revolution, steam remains crucial to production processes across multiple industries. As well as its frequent use in the food and beverage industry, steam is also used for sterilisation by pharmaceutical companies, and for heating a wide range of buildings such as hospitals. But steam is still primarily generated using boilers run on fossil fuels, giving it a big carbon footprint. Fossil fuels made up 73% of industrial energy use in the US in 2018, with 40% of these fossil fuels used to heat boilers producing steam. To cut that, one option would be to switch to electric. Assuming the electricity is generated from sustainable sources, then the carbon footprint is slashed. But using electricity does have downsides. ""The biggest challenge is cost, which is likely to limit the pace of customer adoption,"" says Maurizio Preziosa, from UK-based engineering firm Spirax Group. While cost might be an issue, the switch is relatively straightforward.  Mr Preziosa says that his firm's technology can usually slot into the existing system. ""Customers can continue to use the rest of their existing steam infrastructure,"" Mr Preziosa explains. This has the additional benefit of reducing downtime, a potential obstacle to adoption for companies reliant on tightly calibrated production processes.  US-based AtmosZero has a different approach to creating steam. Their boiler is a heat pump, which extracts heat from the air and turns it into high temperature steam.  It works by circulating liquid refrigerants with low boiling points through a closed loop, capturing warmth from the air. The slightly warmed refrigerant is compressed, raising it to a temperature high enough to boil water.  A heat exchanger then transfers that heat from the refrigerant, to water to make steam.  The big advantage of this approach is that it cuts operating costs. The company's chief executive, Addison Stark estimates that their heat pump technology could save companies hundreds of thousands of dollars compared to the options currently available. ""Being a heat pump-based system, we are significantly more efficient than current boilers - we create about two units of heat output for one unit of energy input, dramatically reducing the operating costs,"" Mr Stark explains. More technology of business AtmosZero is still in the early stages, with more development work needed. The goal is to build a manufacturing plant and start delivering boiler systems in early 2026. Mr Stark is confident the system will work at the scale needed by industry. ""We are mass-manufactured and simple to deploy."" Makers of green steam equipment see demand rising in the coming years.  ""The expectations of end consumers are shifting,"" Maurizio Preziosa from Spirax Group explains. ""They want to buy from companies who operate sustainably by reducing their impact on people and planet, and this, along with regulatory pressure, is driving demand from our customers who serve those consumers,"" he says. Back in Colorado, preparations are under way at New Belgium Brewing where AtmosZero will be swapping out one of the brewery's combustion boilers for their heat pump system. This is the next step on a journey of sustainability the company has been on since those early days selling their beer at local festivals.  As well as installing solar panels and creating electricity from wastewater, Fat Tire, one of their first beers, became the first certified carbon neutral beer in America in August 2020. This is part of a wider company ambition to become completely carbon neutral by 2030. Changing the way they use steam may just be the key step towards this goal. ",BBC,25/04/2024,"['Colorado-based New Belgium Brewing can trace its roots to 1988 and a cycle trip through Belgium.', 'The experience inspired co-founders Kim Jordan and Jeff Lebesch to bring Belgian brewing techniques back to their home town.', 'Three years later and the duo were selling Fat Tire, one of their first beers at a local festival, and they now have over a dozen beers in production.', 'But while they have spent 30 years creating flavours unique to the US market, they have at least one thing in common with all brewers - the use of steam.', 'Steam is used to sanitise their brewing equipment, as well as being a key part of the brewing process.', 'Large cone-shaped kettles are used to boil wort - liquid extracted from the initial brewing stage of mashing barley - generating steam.', 'This boiling process helps to remove flavours the brewer does not want in the beer, before the wort is transferred to vessels to ferment with yeast, resulting in beer.', 'Some of the steam generated by the kettles is captured by a heat exchanger, which allows the brewer to use this waste heat in the next batch of brewing.', 'The driving force behind the industrial revolution, steam remains crucial to production processes across multiple industries.', 'As well as its frequent use in the food and beverage industry, steam is also used for sterilisation by pharmaceutical companies, and for heating a wide range of buildings such as hospitals.', 'But steam is still primarily generated using boilers run on fossil fuels, giving it a big carbon footprint.', 'Fossil fuels made up 73% of industrial energy use in the US in 2018, with 40% of these fossil fuels used to heat boilers producing steam.', 'To cut that, one option would be to switch to electric.', 'Assuming the electricity is generated from sustainable sources, then the carbon footprint is slashed.', 'But using electricity does have downsides. ""', 'The biggest challenge is cost, which is likely to limit the pace of customer adoption,"" says Maurizio Preziosa, from UK-based engineering firm Spirax Group.', 'While cost might be an issue, the switch is relatively straightforward.', 'Mr Preziosa says that his firm\'s technology can usually slot into the existing system. ""', 'Customers can continue to use the rest of their existing steam infrastructure,"" Mr Preziosa explains.', 'This has the additional benefit of reducing downtime, a potential obstacle to adoption for companies reliant on tightly calibrated production processes.', 'US-based AtmosZero has a different approach to creating steam.', 'Their boiler is a heat pump, which extracts heat from the air and turns it into high temperature steam.', 'It works by circulating liquid refrigerants with low boiling points through a closed loop, capturing warmth from the air.', 'The slightly warmed refrigerant is compressed, raising it to a temperature high enough to boil water.', 'A heat exchanger then transfers that heat from the refrigerant, to water to make steam.', 'The big advantage of this approach is that it cuts operating costs.', 'The company\'s chief executive, Addison Stark estimates that their heat pump technology could save companies hundreds of thousands of dollars compared to the options currently available. ""', 'Being a heat pump-based system, we are significantly more efficient than current boilers - we create about two units of heat output for one unit of energy input, dramatically reducing the operating costs,"" Mr Stark explains.', 'More technology of business AtmosZero is still in the early stages, with more development work needed.', 'The goal is to build a manufacturing plant and start delivering boiler systems in early 2026.', 'Mr Stark is confident the system will work at the scale needed by industry. ""', 'We are mass-manufactured and simple to deploy.""', 'Makers of green steam equipment see demand rising in the coming years. ""', 'The expectations of end consumers are shifting,"" Maurizio Preziosa from Spirax Group explains. ""', 'They want to buy from companies who operate sustainably by reducing their impact on people and planet, and this, along with regulatory pressure, is driving demand from our customers who serve those consumers,"" he says.', ""Back in Colorado, preparations are under way at New Belgium Brewing where AtmosZero will be swapping out one of the brewery's combustion boilers for their heat pump system."", 'This is the next step on a journey of sustainability the company has been on since those early days selling their beer at local festivals.', 'As well as installing solar panels and creating electricity from wastewater, Fat Tire, one of their first beers, became the first certified carbon neutral beer in America in August 2020.', 'This is part of a wider company ambition to become completely carbon neutral by 2030.', 'Changing the way they use steam may just be the key step towards this goal.']",0.1313956987949602,"Being a heat pump-based system, we are significantly more efficient than current boilers - we create about two units of heat output for one unit of energy input, dramatically reducing the operating costs,"" Mr Stark explains.","Some of the steam generated by the kettles is captured by a heat exchanger, which allows the brewer to use this waste heat in the next batch of brewing.",0.6398535641756925,"Makers of green steam equipment see demand rising in the coming years. ""","The biggest challenge is cost, which is likely to limit the pace of customer adoption,"" says Maurizio Preziosa, from UK-based engineering firm Spirax Group.",2024-04-26
-Why a deluge of Chinese-made drugs is hard to curb,https://www.bbc.co.uk/news/business-68669244,2024-04-18T22:57:01.000Z,"When Sammy left her village in Sichuan province to attend university in northern China more than a decade ago, she was following a well-trodden rite of passage.  The English language graduate was the first person in her family to go to university. She had a passion for foreign languages and dreamed of becoming a teacher. She had never heard of synthetic opioids before.  After graduating, Sammy found work at a chemicals company in the Chinese city of Shijiazhuang, selling what she thought were chemicals to clients around the world. She would practice English every day speaking to her customers online, and earn a commission for each sale she made. Her dreams of becoming a teacher quickly faded. ""Maybe others are just like me… At the start we don't know what we are selling, but when we find out we have fallen in love with the work,"" she said. ""This work can make money,"" she adds. Sammy [not her real name] is an unlikely drug trafficker. She is one of what international law enforcement agencies estimate could be thousands of online sales representatives, working for illicit Chinese pharmaceutical and chemical companies producing and smuggling illegal laboratory made drugs.  The US government has long accused China of flooding the country with deadly drugs like fentanyl, a synthetic opioid up to 50 times stronger than heroin, claims the Chinese government denies. The US says Chinese-made opioids are fuelling the worst drug crisis in the country's history. In 2022 more than 70,000 Americans died from fentanyl overdoses. According to a report published by the US select committee on the Chinese Communist Party, the Chinese government provides subsidies to companies openly trafficking illicit synthetic drugs. The report found tens of thousands of posts online advertising illegal drugs and pre-cursors. The study claims that ""wholly state owned"" companies are involved in the trafficking of drugs. The Chinese government has consistently denied knowledge of the illegal drug trade. Many like Sammy fall into the drug trade seemingly by accident, initially unaware of the products they are peddling online and their deadly consequences. But others are more aware of what they are selling.  Each morning Sara [not her real name] posts photos and videos across her social media platforms advertising drugs; synthetic cannabinoids, precursors for MDMA, and nitazenes, a synthetic opioid considered up to 50 times more potent than even fentanyl. ""We have many customers in Britain and have cooperated with them many times,"" boasts Sara, an international trade graduate, now working for an online platform.  When challenged, she is not drawn into a moral discussion about selling drugs. She claims she never asks customers how they use what she sells.   The UK National Crime and Agency (NCA) believes drug dealers are mixing the synthetic opioid with street drugs such as heroin. According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.  The BBC has found hundreds of adverts for nitazenes online. Suppliers contacted claim to send shipments through courier services, mislabelling deliveries and hiding drugs in fake packaging. The BBC has also seen courier tracking numbers provided by online sales representative in China claiming to have made successful deliveries across the UK. Sara entered the business after university. She thought she was selling chemicals.  She has worked in the industry for two and a half years. ""I know most of the products,"" she says. ""My boss has been running this company for more than seven years, and he knows lots of customers and freight forwarders. If the product is detained, he will lose the most. So he will try his best to make the product reach you smoothly,"" she adds. In March, the UK government classified 15 synthetic opioids as Class A drugs. Under the Misuse of Drugs act anyone caught supplying or producing the drugs could face up to life in prison. Those caught in possession face seven years.   According to the United Nations Office on Drugs and Crime (UNODC), China has between 40,000 and 100,000 pharmaceutical companies. ""China has long had one of the most significant pharmaceutical industries in Asia, as well as one of the largest chemical industries. And we've seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""While both industries are regulated, the challenge is significant given the sheer scale, and at the same time there are a number of ways to move products. Parcel post, air freight and shipping containers are all moving globally in high volumes,"" he said. Mr Douglas says that synthetic drugs are disrupting the traditional drug trade. Outside of China, synthetic drugs offer opportunities for both traditional crime organisations and upstarts able to buy directly from producers half a world away.  ""Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable. They're attractive to traffickers."" That was confirmed in my conversations with sales people working for Chinese pharmaceutical firms. ""First of all, our packaging is completely secret, no one knows what it is until you open it, and second, we will change the name of the package and will not reveal any name about the product,"" says Sara. ""We will get the logistics order number when we send the package, we will track the situation of the package at any time, and any anomalies can be known and solved in time,"" she adds. According to Europol, the European police agency, China is the world's biggest manufacturer and distributor of synthetic, lab-made drugs. Some mimic the effects of traditional drugs like cannabis or cocaine. Chemists synthesise new drugs in order to stay one step ahead of the law. ""It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce.  ""I have not seen such a professionalism and a corporate element in this anywhere else in the world. Criminal activity was a type of social mobility."" In 2020, researchers from TraCCC studied over 350 English language websites advertising the synthetic opioid fentanyl. ""From all the adverts that we found, nearly 40% of them were from corporate registries, and the largest hub of that was in Wuhan,"" says Dr Shelly. The sales people contacted by the BBC see the drug trade as simply another aspect of e-commerce. When challenged over selling drugs that damage lives, one described herself as a ""middleman."" ""Somebody needs it, somebody makes it, and I am just a middleman who lets customers know that I have it and what they do with it, I don't care,"" she says. ""Then I figured out I just need to make money. I don't know and don't care. Everyone has their own needs."" The woman boasts of clients from Canada to Croatia. She provided photos of recent drugs shipments complete with labels showing a UK address. ""I didn't know at first until I went online and translated the product into Chinese,"" she says via a message punctuated with a teary emoji.  Another seller says: ""This industry is easy, and you can get higher wages, which attracts a large number of young people"". Natalie [not her real name], focuses on fentanyl. ""We buy from over 10 different labs and have a large selection. I have a professional shipping agent who packaged goods so has a very high delivery success rate to the UK."" Meanwhile, another supplier claimed to be able to smuggle drugs into the UK hidden in dog food packaging.  ""You don't need to worry about the packaging. We guarantee you safe delivery.""  ""We ship in large quantities all over the world every day. Please trust our professional team. We guarantee 100% safe transportation.""  In 2019, the Chinese government banned all forms of fentanyl and its analogues. In January 2024, China and the US launched a joint operation to curb the production of the synthetic opioid fentanyl. ""As long as market demand remains high in some parts of the world then that demand will be met in one way or another,"" said Mr Douglas from the UNODC.  ",BBC,18/04/2024,"['When Sammy left her village in Sichuan province to attend university in northern China more than a decade ago, she was following a well-trodden rite of passage.', 'The English language graduate was the first person in her family to go to university.', 'She had a passion for foreign languages and dreamed of becoming a teacher.', 'She had never heard of synthetic opioids before.', 'After graduating, Sammy found work at a chemicals company in the Chinese city of Shijiazhuang, selling what she thought were chemicals to clients around the world.', 'She would practice English every day speaking to her customers online, and earn a commission for each sale she made.', 'Her dreams of becoming a teacher quickly faded. ""', 'Maybe others are just like me… At the start we don\'t know what we are selling, but when we find out we have fallen in love with the work,"" she said. ""', 'This work can make money,"" she adds.', 'Sammy [not her real name] is an unlikely drug trafficker.', 'She is one of what international law enforcement agencies estimate could be thousands of online sales representatives, working for illicit Chinese pharmaceutical and chemical companies producing and smuggling illegal laboratory made drugs.', 'The US government has long accused China of flooding the country with deadly drugs like fentanyl, a synthetic opioid up to 50 times stronger than heroin, claims the Chinese government denies.', ""The US says Chinese-made opioids are fuelling the worst drug crisis in the country's history."", 'In 2022 more than 70,000 Americans died from fentanyl overdoses.', 'According to a report published by the US select committee on the Chinese Communist Party, the Chinese government provides subsidies to companies openly trafficking illicit synthetic drugs.', 'The report found tens of thousands of posts online advertising illegal drugs and pre-cursors.', 'The study claims that ""wholly state owned"" companies are involved in the trafficking of drugs.', 'The Chinese government has consistently denied knowledge of the illegal drug trade.', 'Many like Sammy fall into the drug trade seemingly by accident, initially unaware of the products they are peddling online and their deadly consequences.', 'But others are more aware of what they are selling.', 'Each morning Sara [not her real name] posts photos and videos across her social media platforms advertising drugs; synthetic cannabinoids, precursors for MDMA, and nitazenes, a synthetic opioid considered up to 50 times more potent than even fentanyl. ""', 'We have many customers in Britain and have cooperated with them many times,"" boasts Sara, an international trade graduate, now working for an online platform.', 'When challenged, she is not drawn into a moral discussion about selling drugs.', 'She claims she never asks customers how they use what she sells.', 'The UK National Crime and Agency (NCA) believes drug dealers are mixing the synthetic opioid with street drugs such as heroin.', 'According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.', 'The BBC has found hundreds of adverts for nitazenes online.', 'Suppliers contacted claim to send shipments through courier services, mislabelling deliveries and hiding drugs in fake packaging.', 'The BBC has also seen courier tracking numbers provided by online sales representative in China claiming to have made successful deliveries across the UK.', 'Sara entered the business after university.', 'She thought she was selling chemicals.', 'She has worked in the industry for two and a half years. ""', 'I know most of the products,"" she says. ""', 'My boss has been running this company for more than seven years, and he knows lots of customers and freight forwarders.', 'If the product is detained, he will lose the most.', 'So he will try his best to make the product reach you smoothly,"" she adds.', 'In March, the UK government classified 15 synthetic opioids as Class A drugs.', 'Under the Misuse of Drugs act anyone caught supplying or producing the drugs could face up to life in prison.', 'Those caught in possession face seven years.', 'According to the United Nations Office on Drugs and Crime (UNODC), China has between 40,000 and 100,000 pharmaceutical companies. ""', 'China has long had one of the most significant pharmaceutical industries in Asia, as well as one of the largest chemical industries.', 'And we\'ve seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""', 'While both industries are regulated, the challenge is significant given the sheer scale, and at the same time there are a number of ways to move products.', 'Parcel post, air freight and shipping containers are all moving globally in high volumes,"" he said.', 'Mr Douglas says that synthetic drugs are disrupting the traditional drug trade.', 'Outside of China, synthetic drugs offer opportunities for both traditional crime organisations and upstarts able to buy directly from producers half a world away. ""', 'Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable.', 'They\'re attractive to traffickers.""', 'That was confirmed in my conversations with sales people working for Chinese pharmaceutical firms. ""', 'First of all, our packaging is completely secret, no one knows what it is until you open it, and second, we will change the name of the package and will not reveal any name about the product,"" says Sara. ""', 'We will get the logistics order number when we send the package, we will track the situation of the package at any time, and any anomalies can be known and solved in time,"" she adds.', ""According to Europol, the European police agency, China is the world's biggest manufacturer and distributor of synthetic, lab-made drugs."", 'Some mimic the effects of traditional drugs like cannabis or cocaine.', 'Chemists synthesise new drugs in order to stay one step ahead of the law. ""', 'It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce. ""', 'I have not seen such a professionalism and a corporate element in this anywhere else in the world.', 'Criminal activity was a type of social mobility.""', 'In 2020, researchers from TraCCC studied over 350 English language websites advertising the synthetic opioid fentanyl. ""', 'From all the adverts that we found, nearly 40% of them were from corporate registries, and the largest hub of that was in Wuhan,"" says Dr Shelly.', 'The sales people contacted by the BBC see the drug trade as simply another aspect of e-commerce.', 'When challenged over selling drugs that damage lives, one described herself as a ""middleman."" ""', 'Somebody needs it, somebody makes it, and I am just a middleman who lets customers know that I have it and what they do with it, I don\'t care,"" she says. ""', 'Then I figured out I just need to make money.', ""I don't know and don't care."", 'Everyone has their own needs.""', 'The woman boasts of clients from Canada to Croatia.', 'She provided photos of recent drugs shipments complete with labels showing a UK address. ""', 'I didn\'t know at first until I went online and translated the product into Chinese,"" she says via a message punctuated with a teary emoji.', 'Another seller says: ""This industry is easy, and you can get higher wages, which attracts a large number of young people"".', 'Natalie [not her real name], focuses on fentanyl. ""', 'We buy from over 10 different labs and have a large selection.', 'I have a professional shipping agent who packaged goods so has a very high delivery success rate to the UK.""', 'Meanwhile, another supplier claimed to be able to smuggle drugs into the UK hidden in dog food packaging. ""', ""You don't need to worry about the packaging."", 'We guarantee you safe delivery."" ""', 'We ship in large quantities all over the world every day.', 'Please trust our professional team.', 'We guarantee 100% safe transportation.""', 'In 2019, the Chinese government banned all forms of fentanyl and its analogues.', 'In January 2024, China and the US launched a joint operation to curb the production of the synthetic opioid fentanyl. ""', 'As long as market demand remains high in some parts of the world then that demand will be met in one way or another,"" said Mr Douglas from the UNODC.']",-0.0146332805685231,"Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable.","It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce. """,0.3921927426542554,"And we've seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""","According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.",2024-04-26
-"As pro-Palestinian protests sweep campus, student journalists are rushing to the big story and exams",https://edition.cnn.com/2024/04/26/business/as-pro-palestinian-protests-sweepcollegecampuses-student-journalistsarerushing-to-the-bigstoryandexams/index.html,"
-  Published
-        11:32 AM EDT, Fri April 26, 2024
-    ","Arianna Smith is juggling a lot right now.
-    
-            Smith is editor-in-chief of The Lantern, Ohio State University’s student-run newspaper, which has scrambled in recent days to cover pro-Palestinian protests roiling the campus.
-    
-            It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff. But the news doesn’t account for exams.
-    
-            “We have had reporters and editors drop everything they are doing [to cover the story], even though they have finals that they should be studying for,” Smith told CNN.
-    
-            As universities across the country crack down on demonstrations over Israel’s military actions in Gaza and police arrest hundreds of protesters, student-run newspapers have quickly become an essential source of news coverage for both the campus communities and nation at large, providing crucial transparency and scrutiny of authorities.
-    
-            And, for many of these student journalists, it’s becoming a seminal moment in their nascent careers.
-    
-            “It’s so important to have journalists that care about being objective, and to have journalists that really know the power that their writing has,” Smith said of her newspaper’s reporters.
-    
-            When demonstrations broke out on the Columbus campus this week, resulting in multiple arrests, the Lantern’s staff reported from the protest scenes, detailed actions of the police, and investigated Ohio State University policies barring encampments.
-    
-            “We’re not only covering the protests, but we’re covering and getting the opinions from these people that are involved in this protest,” Smith said. “And we’re also making sure that we’re analyzing the legalities behind all of these policies that the university is enforcing.”
-    
-            At the University of Southern California, nearly 100 people were arrested this week as protests swelled on campus and university leaders imposed restrictions on demonstrations.
-    
-            Anjali Patel, editor-in-chief of the university’s newspaper, The Daily Trojan, immediately recognized the student-led publication had an advantage over the national press as they raced to cover the story.
-    
-            “Given that we’re student journalists, we know the campus and the students here. That gives us a different angle than professional news outlets,” Patel said. “We’re also completely student-led, so the way that we approach work and reporting is different, but I think that’s to our advantage.”
-    
-            The tension at USC has been boiling since administrators canceled its Muslim valedictorian’s commencement speech — and, on Thursday, the main graduation ceremony — citing safety concerns. As pressure mounted on campus, the newspaper mobilized a handful of writers who worked together to cover the protests. But, as police were deployed on campus, The Daily Trojan increased the number of assigned reporters to cover events.
-    
-            When officers moved to make dozens of arrests Wednesday at a protest encampment, it was “all hands on deck,” Patel said, adding that The Daily Trojan deployed at least five photographers and eight other staff members to cover the demonstrations.
-    
-            These young journalists, while juggling classes and the stress of exams, are also intimately involved with the student community, translating the student body’s mood on their campus for the rest of the nation.
-    
-            At the University of Texas at Austin, dozens of protesters were arrested Wednesday after pro-Palestinian demonstrators were met by state troopers “in full riot gear with batons,” Amelia Kimball, associate managing editor of The Daily Texan told CNN.
-    
-            Kimball reported that there was a “physical clash” between students and police on campus with numerous students taken into custody and “put in squad cars.”
-    
-            The arrests came as Texas Governor Greg Abbott warned that “antisemitism will not be tolerated in Texas” and called for students participating in the protests to be expelled.
-    
-            “I think there’s a real feeling of betrayal on campus and I think there’s a lot of anger [after students were arrested],” Kimball told CNN’s John Berman.
-    
-            “State troopers were on campus before students even began to gather,” Kimball added. “And so things just escalated far beyond what students had expected at all, and so yeah, I think students feel betrayed by the university and by our state government.”",CNN,26/04/2024,"['Arianna Smith is juggling a lot right now.', 'Smith iseditor-in-chiefof The Lantern, Ohio State University’s student-run newspaper,whichhas scrambled in recent days to coverpro-Palestinian protestsroiling thecampus.', 'It’s also finals week, and in the coming days the newspaper’s staff will transition to the next year’s staff.', 'But the news doesn’t account for exams.', '“We have had reporters and editors drop everything they are doing [to cover the story], even though they have finals that they should be studying for,” Smith told CNN.', 'As universities across the country crack down on demonstrations over Israel’s military actions in Gaza and police arrest hundreds of protesters,student-runnewspapers havequickly becomean essential source ofnews coverage for both the campus communities and nation at large, providing crucial transparency and scrutiny of authorities.', 'And,for many of these student journalists,it’s becoming a seminal moment in their nascent careers.', '“It’s so important to have journalists that care about being objective, and to have journalists that really know the power that their writing has,”Smith said of her newspaper’s reporters.', 'When demonstrations broke out on the Columbus campus this week, resulting in multiple arrests, the Lantern’sstaffreportedfrom the protest scenes, detailed actions of the police, andinvestigatedOhio State University policiesbarring encampments.', '“We’re not only covering the protests, but we’re covering and getting the opinions from these people that are involved in this protest,” Smith said. “', 'And we’re also making sure that we’re analyzing the legalities behind all of these policies that the university is enforcing.”', 'At the University of Southern California,nearly 100 peoplewerearrestedthisweek as protests swelled on campusanduniversityleadersimposed restrictionson demonstrations.', 'Anjali Patel, editor-in-chief of the university’s newspaper, The Daily Trojan, immediately recognized the student-led publication had an advantage over the national press as they raced to cover the story.', '“Given that we’re studentjournalists, we know the campus and the students here.', 'That gives us a different angle than professional news outlets,”Patel said.', '“We’re also completely student-led, so the way that we approach work and reporting is different, but I think that’s to our advantage.”', 'The tension at USC has been boiling sinceadministrators canceleditsMuslim valedictorian’scommencementspeech — and,on Thursday,themaingraduation ceremony — citing safety concerns.', 'As pressure mounted on campus, the newspaper mobilized a handful of writers who workedtogether to cover the protests.', 'But, aspolicewere deployed on campus, The Daily Trojan increasedthe number of assignedreportersto cover events.', 'When officers moved to make dozens of arrests Wednesday at a protest encampment,it was“all hands on deck,” Patel said, adding that The Daily Trojan deployed at least fivephotographersandeight other staff memberstocover the demonstrations.', 'Theseyoungjournalists,while juggling classes and the stress of exams,are also intimatelyinvolvedwith the student community,translatingthe student body’s moodon their campusforthe rest of the nation.', 'At the University of Texas at Austin, dozens of protesters were arrested Wednesday after pro-Palestinian demonstrators were met by state troopers“in full riot gear with batons,” Amelia Kimball, associate managing editor ofThe Daily Texan told CNN.', 'Kimball reported that there was a “physical clash” between students and police on campuswith numerous students taken into custody and “put in squad cars.”', 'The arrests came as Texas Governor Greg Abbott warned that “antisemitism will not be tolerated in Texas” and called for students participating in the protests to be expelled.', '“I think there’s a real feeling of betrayal on campus and I think there’s a lot of anger [after students were arrested],” Kimballtold CNN’s John Berman.', '“State troopers were on campus before students even began to gather,”Kimballadded. “', 'And so things just escalated far beyond what students had expected at all, and so yeah, I think students feel betrayed by the university and by our state government.”']",-0.1761489202507428,"“It’s so important to have journalists that care about being objective, and to have journalists that really know the power that their writing has,”Smith said of her newspaper’s reporters.","“I think there’s a real feeling of betrayal on campus and I think there’s a lot of anger [after students were arrested],” Kimballtold CNN’s John Berman.",-0.0097335378328959,"Anjali Patel, editor-in-chief of the university’s newspaper, The Daily Trojan, immediately recognized the student-led publication had an advantage over the national press as they raced to cover the story.","And so things just escalated far beyond what students had expected at all, and so yeah, I think students feel betrayed by the university and by our state government.”",2024-04-26
-Boeing expects slower production increase of 787 Dreamliner because of parts shortages,https://www.cnbc.com/2024/04/22/boeing-expects-slower-production-increase-of-787-dreamliner.html,2024-04-22T21:24:55+0000,"In this articleBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of ""a few key parts.""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.Stocker said Boeing is still facing supplier shortages.""To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries,"" he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand.Boeing was producing about five 787 Dreamliners per month as of late last year and said in January it aimed to get up to 10 a month as early as next year.Boeing is set to report quarterly results and will likely detail its production plans before the market opens on Wednesday.",CNBC,22/04/2024,"['In this articleBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of ""a few key parts.', '""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.', 'The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing\'s South Carolina 787 plant.', 'Stocker said Boeing is still facing supplier shortages.', '""To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries,"" he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand.', 'Boeing was producing about five 787 Dreamliners per month as of late last year and said in January it aimed to get up to 10 a month as early as next year.', 'Boeing is set to report quarterly results and will likely detail its production plans before the market opens on Wednesday.']",0.1277970121336743,"The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.","""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.",0.1885810613632202,"The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.","""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.",2024-04-26
-Starbucks resumes bargaining with union after two sides thaw relationship,https://www.cnbc.com/2024/04/24/starbucks-resumes-bargaining-with-workers-united-union.html,2024-04-26T17:34:52+0000,"In this articleStarbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.The two sides' return to the bargaining table follows their February announcement that they found a ""constructive path forward"" during mediation discussions related to litigation over the union's use of Starbucks' branding. It marked a major pivot for Starbucks, which had spent the previous two years battling Workers United and the broader movement to unionize its cafes.Roughly 400 company-owned Starbucks in the U.S. have voted to unionize under Workers United since the first elections in December 2021, according to a tally from the National Labor Relations Board, as of Monday. But none of those locations, which make up a small fraction of total U.S. footprint, have come close to a collective bargaining agreement.Starbucks and the union, which is affiliated with the Service Employees International Union, have previously met to bargain, but those talks quickly ended in stalemate. Both sides have accused the other of sabotaging the talks.Starbucks had previously insisted on face-to-face negotiations, with no representatives appearing via Zoom. The union has accused Starbucks of using that excuse as a stalling tactic. This time around, about 150 union representatives will appear in person to bargain, while several hundred more will weigh in remotely outside of the face-to-face meetings.Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents. Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith. After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations. The NLRB has 19 pending petitions to decertify. Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.The company said it has also been negotiating with other unions that represent its cafes, such as the International Brotherhood of Teamsters, which is bargaining for a store outside of Pittsburgh.The resumption of contract negotiations comes a day after another significant moment for both Starbucks and unions. On Tuesday, the company appeared before the Supreme Court to appeal a lower court's approval of an injunction sought by the NLRB to reinstate seven fired workers at a Memphis cafe.Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does. Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor. The court is expected to release its decision this summer.Starbucks could share more about the union negotiations during its quarterly earnings call. The coffee giant is expected to report its results on Tuesday.",CNBC,26/04/2024,"['In this articleStarbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.', 'The two sides\' return to the bargaining table follows their February announcement that they founda ""constructive path forward"" during mediation discussions related to litigation over the union\'s use of Starbucks\' branding.', 'It marked a major pivot for Starbucks, which had spent the previous two years battling Workers United and the broader movement to unionize its cafes.', 'Roughly 400 company-owned Starbucks in the U.S. have voted to unionize under Workers United since the first elections in December 2021, according to a tally from the National Labor Relations Board, as of Monday.', 'But none of those locations, which make up a small fraction of total U.S. footprint, have come close to a collective bargaining agreement.', 'Starbucks and the union, which is affiliated with the Service Employees International Union, have previously met to bargain, but those talks quickly ended in stalemate.', 'Both sides have accused the other of sabotaging the talks.', 'Starbucks had previously insisted on face-to-face negotiations, with no representatives appearing via Zoom.', 'The union has accused Starbucks of using that excuse as a stalling tactic.', 'This time around, about 150 union representatives will appear in person to bargain, while several hundred more will weigh in remotely outside of the face-to-face meetings.', 'Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents.', 'Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.', 'Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.', 'After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations.', 'The NLRB has 19 pending petitions to decertify.', 'Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.', 'The company said it has also been negotiating with other unions that represent its cafes, such as the International Brotherhood of Teamsters, which is bargaining for a store outside of Pittsburgh.', 'The resumption of contract negotiations comes a day after another significant moment for both Starbucks and unions.', ""On Tuesday, the company appeared before the Supreme Court to appeal a lower court's approval of an injunction sought by the NLRB to reinstate seven fired workers at a Memphis cafe."", 'Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does.', ""Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor."", 'The court is expected to release its decision this summer.', 'Starbucks could share more about the union negotiations during its quarterly earnings call.', 'The coffee giant is expected to report its results on Tuesday.']",0.0722775234451613,"Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.","Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.",-0.1644300669431686,"Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.",Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor.,2024-04-26
-JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank,https://www.cnbc.com/2024/04/24/jpmorgan-chase-is-caught-in-us-russia-sanctions-war-after-overseas-court-orders-440-million-seized-from-bank.html,2024-04-24T22:24:46+0000,"In this articleA Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.The court ordered the seizure of funds in JPMorgan's Russian accounts and ""movable and immovable property,"" including the bank's stake in a Russian subsidiary, according to a court order published Wednesday.The order came after VTB filed a suit last week in a St. Petersburg arbitration court, seeking to be made whole for funds frozen in the U.S., and asking for relief because JPMorgan has said it plans to exit Russia.The next hearing in the Russian case is July 17.JPMorgan declined to comment. VTB did not immediately respond to CNBC's request for comment.The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests. JPMorgan is the biggest U.S. bank by assets and run by veteran CEO Jamie Dimon.  Two years after Russia invaded Ukraine, the Biden administration has mounted an unprecedented set of sanctions, oil price caps and trade restrictions designed to weaken Moscow's military machine.On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million.This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.The American bank, seeking to block VTB's effort, said the Russian company broke its contractual promise to seek relief in American courts, instead finding a friendlier venue in Russia.JPMorgan said Russian courts have enabled similar efforts by Russian lenders against American or European banks at least a half dozen other times.JPMorgan said it faced ""certain and irreparable harm"" from VTB's efforts.",CNBC,24/04/2024,"['In this articleA Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.', 'The court ordered the seizure of funds in JPMorgan\'s Russian accounts and ""movable and immovable property,"" including the bank\'s stake in a Russian subsidiary, according to a court order published Wednesday.', 'The order came after VTB filed a suit last week in a St. Petersburg arbitration court, seeking to be made whole for funds frozen in the U.S., and asking for relief because JPMorgan has said it plans to exit Russia.', 'The next hearing in the Russian case is July 17.JPMorgan declined to comment.', ""VTB did not immediately respond to CNBC's request for comment."", 'The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests.', 'JPMorgan is the biggest U.S. bank by assets and run by veteran CEO Jamie Dimon.', ""Two years after Russia invaded Ukraine, the Biden administration has mounted an unprecedented set of sanctions, oil price caps and trade restrictions designed to weaken Moscow's military machine."", 'On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.', ""In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million."", 'This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.', ""The American bank, seeking to block VTB's effort, said the Russian company broke its contractual promise to seek relief in American courts, instead finding a friendlier venue in Russia."", 'JPMorgan said Russian courts have enabled similar efforts by Russian lenders against American or European banks at least a half dozen other times.', 'JPMorgan said it faced ""certain and irreparable harm"" from VTB\'s efforts.']",0.0204917561348164,"On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.","In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million.",-0.0723157450556755,"On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.","This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.",2024-04-26
-The Fed’s preferred inflation gauge just moved in the wrong direction,https://edition.cnn.com/2024/04/26/economy/pce-inflation-spending-march/index.html,"
-  Updated
-        10:39 AM EDT, Fri April 26, 2024
-    ","Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending.
-    
-            The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for the year ended in March, according to data released Friday by the Commerce Department.
-    
-            That rate was above economists’ expectations for a 2.6% gain and landed above February’s reading of 2.5%.
-    
-            On a monthly basis, prices rose 0.3%, unchanged from the pace seen in February.
-    
-            “We’re moving in the wrong direction, again, on the inflation story,” Ben Ayers, Nationwide’s senior economist, told CNN in an interview.
-    
-            Inflation has cooled significantly from the decades-high levels seen in the summer of 2022; however, progress that was made last year did not continue into 2024. While rising gas prices played their role, the biggest bogeyman to lower inflation has been shelter costs and overall services, where price hikes tend to be more “sticky.”
-    
-            “Those [price increases for services] don’t go away overnight, and I think that’s the concerning part for us as economists, but also for the Fed,” Ayers said. “That means a longer road for this higher inflationary environment over this year than we thought.”
-    
-            While many economists prefer to measure the nation’s inflation levels using the monthly Consumer Price Index (which shows prices are up 3.5% annually through March), the Fed bases its 2% inflation target on the overall PCE index. In its evaluation of monetary policy, the Fed also is closely watching shifts in underlying inflation — seen best through the “core” PCE index that strips out volatile food and energy prices.
-    
-            The core PCE index held steady in March on both a monthly and annual basis, 0.3% and 2.8%, respectively.
-    
-            While both indexes are much lower than they were at their peaks (7.1% PCE inflation in June 2022, 5.6% for core in February 2022), they also remain stuck above the Fed’s 2% target. After 11 rate hikes in two years, the Fed has been on hold and eyeing potential rate cuts for this year.
-    
-            The timing of those cuts got pushed back after a series of hot inflation reports to start 2024, economists and analysts say.
-    
-            The Fed has a policymaking meeting next week, and central bankers are widely expected to stay the course and keep rates where they are until clearer progress is being made.
-    
-            That’s expected to occur in the coming months, wrote Tuan Nguyen, economist at RSM US. A key reason for that will be disinflation in housing prices.
-    
-            Inflation gauges capture changes in rent — and the implicit rental value of owned homes — on a lag. Market-rate rents have stabilized, and economists expect that to be reflected in the inflation data in the coming months.
-    
-            “We expect housing inflation to likely be halved, bringing overall inflation much closer to the Fed’s 2% target than currently anticipated,” Nguyen wrote, adding that RSM views the first rate cuts as not likely to occur until September.
-    
-            When Ross Fondren moved to Austin, Texas, from Arkansas in 2020, it didn’t take long for housing costs to take a huge bite of income. From 2021 to 2022, Austin was among the top 10 fastest-growing rental markets in the nation, with rents rising on average by more than 25% in some months.
-    
-            More recently, rents have been stable and have gone down in some places across the city, Fondren said.
-    
-            The trip to the grocery store certainly isn’t as painful as it was two years ago, he said, but the most significant increases he and his wife are seeing now are in their insurance renewal notices and from other service providers.
-    
-            His wife’s six-month auto premium went up by $75 and his by $100, increases of 7% and 10%, respectively.
-    
-            “You definitely notice those things,” said Fondren, 32, who has a part-time job working for UPS and another officiating soccer. “Thankfully, we’ve paid off debts for our cars, so it’s not as impactful as if it would’ve happened last year before we had paid some things off. But you still notice a price increase here and there.”
-    
-            The oil changes that two years ago ran under $100 are now topping off at $115, he said. The basic haircut for Fondren (who jests that as a “half-balding man already, so not a lot to do,”) that was $15 is now $20. Internet and other bills seem to be inching up by $1 or $2 each month, he added.
-    
-            The increases, even those ticky-tacky ones, do add up. But for now, they’re manageable, Fondren said, noting he and his wife both received “decent raises” recently in addition to paying down debt.
-    
-            “It’s probably my first time as an adult of going through a big economic change like Covid and then the big inflation jump. So it’s a wake-up call for me, and I think, ‘Oh, this is how the world works at times,’” Fondren said. “But I think overall, it’s fine.”
-    
-            Despite higher-than-typical inflation seemingly stuck in neutral, the economy-powering consumers aren’t batting an eye: Spending remained strong last month and didn’t taper off like economists had been expecting.
-    
-            Consumer spending remained strong in March, jumping 0.8% and equaling the blistering pace seen a month before. Economists were expecting consumers to pull back some: They forecasted an increase of 0.5%, according to FactSet estimates.
-    
-            Taking inflation out of the equation, the economy-powering spending was still up 0.5%, according to the report. Inflation-adjusted disposable personal income grew 0.2%.
-    
-            “We’ve seen good hiring, good levels of spending,” Nationwide’s Ayers said, “but the downside is that has also brought back inflation concerns to the front.”
-    
-            It likely will need to take a slowdown in the historically strong labor market to help ease inflation, Ayers said. And if there’s a significant cooling, that could leave many people in a bind, he added.
-    
-            “I think the propensity to spend for consumers is higher than it usually is,” Ayers said. “And that is raising some concerns that — not everyone — but some households have overextended themselves.”
-    
-            Friday’s report showed that savings as a percentage of disposable income dropped to 3.2%, the lowest rate since October 2022.",CNN,26/04/2024,"['Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending.', 'The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for the year ended in March, according to data released Friday by the Commerce Department.', 'That rate was above economists’ expectations for a 2.6% gain and landed above February’s reading of 2.5%.', 'On a monthly basis, prices rose 0.3%, unchanged from the pace seen in February.', '“We’re moving in the wrong direction, again, on the inflation story,” Ben Ayers, Nationwide’s senior economist, told CNN in an interview.', 'Inflation has cooled significantly from the decades-high levels seen in the summer of 2022; however, progress that was made last year did not continue into 2024.', 'While rising gas prices played their role, the biggest bogeyman to lower inflation has been shelter costs and overall services, where price hikes tend to be more “sticky.”', '“Those [price increases for services] don’t go away overnight, and I think that’s the concerning part for us as economists, but also for the Fed,” Ayers said. “', 'That means a longer road for this higher inflationary environment over this year than we thought.”', 'While many economists prefer to measure the nation’s inflation levels using the monthly Consumer Price Index (which shows prices are up 3.5% annually through March), the Fed bases its 2% inflation target on the overall PCE index.', 'In its evaluation of monetary policy, the Fed also is closely watching shifts in underlying inflation — seen best through the “core” PCE index that strips out volatile food and energy prices.', 'The core PCE index held steady in March on both a monthly and annual basis, 0.3% and 2.8%, respectively.', 'While both indexes are much lower than they were at their peaks (7.1% PCE inflation in June 2022, 5.6% for core in February 2022), they also remain stuck above the Fed’s 2% target.', 'After 11 rate hikes in two years, the Fed has been on hold and eyeing potential rate cuts for this year.', 'The timing of those cuts got pushed back after a series of hot inflation reports to start 2024, economists and analysts say.', 'The Fed has a policymaking meeting next week, and central bankers are widely expected to stay the course and keep rates where they are until clearer progress is being made.', 'That’s expected to occur in the coming months, wrote Tuan Nguyen, economist at RSM US.', 'A key reason for that will be disinflation in housing prices.', 'Inflation gauges capture changes in rent — and the implicit rental value of owned homes — on a lag.', 'Market-rate rents have stabilized, and economists expect that to be reflected in the inflation data in the coming months.', '“We expect housing inflation to likely be halved, bringing overall inflation much closer to the Fed’s 2% target than currently anticipated,” Nguyen wrote, adding that RSM views the first rate cuts as not likely to occur until September.', 'When Ross Fondren moved to Austin, Texas, from Arkansas in 2020, it didn’t take long for housing costs to take a huge bite of income.', 'From 2021 to 2022, Austin was among the top 10 fastest-growing rental markets in the nation, with rents rising on average by more than 25% in some months.', 'More recently, rents have been stable and have gone down in some places across the city, Fondren said.', 'The trip to the grocery store certainly isn’t as painful as it was two years ago, he said, but the most significant increases he and his wife are seeing now are in their insurance renewal notices and from other service providers.', 'His wife’s six-month auto premium went up by $75 and his by $100, increases of 7% and 10%, respectively.', '“You definitely notice those things,” said Fondren, 32, who has a part-time job working for UPS and another officiating soccer. “', 'Thankfully, we’ve paid off debts for our cars, so it’s not as impactful as if it would’ve happened last year before we had paid some things off.', 'But you still notice a price increase here and there.”', 'The oil changes that two years ago ran under $100 are now topping off at $115, he said.', 'The basic haircut for Fondren (who jests that as a “half-balding man already, so not a lot to do,”) that was $15 is now $20.', 'Internet and other bills seem to be inching up by $1 or $2 each month, he added.', 'The increases, even those ticky-tacky ones, do add up.', 'But for now, they’re manageable, Fondren said, noting he and his wife both received “decent raises” recently in addition to paying down debt.', '“It’s probably my first time as an adult of going through a big economic change like Covid and then the big inflation jump.', 'So it’s a wake-up call for me, and I think, ‘Oh, this is how the world works at times,’” Fondren said. “', 'But I think overall, it’s fine.”', 'Despite higher-than-typical inflation seemingly stuck in neutral, the economy-powering consumers aren’t batting an eye: Spending remained strong last month and didn’t taper off like economists had been expecting.', 'Consumer spending remained strong in March, jumping 0.8% and equaling the blistering pace seen a month before.', 'Economists were expecting consumers to pull back some: They forecasted an increase of 0.5%, according to FactSet estimates.', 'Taking inflation out of the equation, the economy-powering spending was still up 0.5%, according to the report.', 'Inflation-adjusted disposable personal income grew 0.2%.', '“We’ve seen good hiring, good levels of spending,” Nationwide’s Ayers said, “but the downside is that has also brought back inflation concerns to the front.”', 'It likely will need to take a slowdown in the historically strong labor market to help ease inflation, Ayers said.', 'And if there’s a significant cooling, that could leave many people in a bind, he added.', '“I think the propensity to spend for consumers is higher than it usually is,” Ayers said. “', 'And that is raising some concerns that — not everyone — but some households have overextended themselves.”', 'Friday’s report showed that savings as a percentage of disposable income dropped to 3.2%, the lowest rate since October 2022.']",0.1205542546255935,"It likely will need to take a slowdown in the historically strong labor market to help ease inflation, Ayers said.","But for now, they’re manageable, Fondren said, noting he and his wife both received “decent raises” recently in addition to paying down debt.",0.2677611282893589,Inflation-adjusted disposable personal income grew 0.2%.,"Friday’s report showed that savings as a percentage of disposable income dropped to 3.2%, the lowest rate since October 2022.",2024-04-26
-"Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss",https://www.cnbc.com/2024/04/25/bristol-myers-squibb-bmy-earnings-q1-2024.html,2024-04-25T16:26:45+0000,"In this articleBristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as sales of its popular blood cancer treatment Revlimid and blockbuster blood thinner Eliquis came in higher than expected. But the pharmaceutical company swung to a quarterly loss due to one-time charges related to its recently closed deals. It also said it plans to cut $1.5 billion in costs by 2025, and reinvest the money in drug development.Bristol Myers will lay off 2,200 employees this year, discontinue some drug programs, eliminate open roles, consolidate its sites and reduce management layers, among other cost savings. The company said it will prioritize investment in its key drug brands, optimize operations across the company and focus its resources on research and development programs that could deliver the highest returns for the company and the greatest health benefits for patients.Two-thirds of savings are associated with drug research and development, Bristol Myers executives said during an earnings call Thursday. The company has discontinued about 12 drug programs so far and will evaluate others to drop throughout year, said Bristol Myers Chief Medical Officer Dr. Samit Hirawat.Bristol Myers CEO Chris Boerner added that the majority of savings are coming from existing in-house operations, not from newly acquired companies.""We are taking important actions to effectively manage the decade,"" Boerner said during the call. ""Our management team has focused on ensuring the discipline execution required to deliver both this year and set us up for the longer term.""For the first quarter, Bristol Myers said the charges that weighed it down primarily reflect its $14 billion acquisition of neuroscience drugmaker Karuna Therapeutics and the collaboration agreement with SystImmune, a subsidiary of a Chinese biotech startup, to co-develop and market its experimental cancer treatment. Those deals come as Bristol Myers faces pressure to launch new drugs and offset the potential loss of revenue from top-selling treatments. The company's popular blood cancer treatment Revlimid — and eventually, Eliquis and cancer immunotherapy Opdivo — faces competition from cheaper copycats. Shares of Bristol Myers fell more than 7% on Tuesday.Here is what Bristol Myers reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Bristol Myers, one of the world's largest pharmaceutical companies, swung to a net loss of $11.9 billion, or $5.89 per share, during the first quarter. That compares to net income of $2.3 billion, or $1.07 per share, for the same period a year ago. Excluding certain items, its adjusted loss per share was $4.40 for the period. The loss reflects a one-time $6.30 per share charge related to the recently closed deals, Bristol Myers said in a release.Bristol Myers reported first-quarter revenue of $11.87 billion, up 5% from the year-earlier period. The company reiterated its full-year revenue forecast of a low single-digit increase. But Bristol Myers lowered its 2024 adjusted earnings guidance to 40 cents to 70 cents per share to reflect the effect of the recent deals. That compares with a previous forecast of $7.10 to $7.40 per share, which did not include charges related to its buyouts of Karuna Therapeutics and radiopharmaceutical company RayzeBio, along with divestitures and other items. Bristol Myers said revenue growth for the first quarter was primarily driven by higher sales of Eliquis and some of its newer drugs. Eliquis booked $3.72 billion in sales for the quarter, up 9% from the year-ago period. Analysts had expected Eliquis to draw $3.59 billion in revenue, according to estimates compiled by FactSet.Eliquis, which Bristol Myers shares with Pfizer, is among the first 10 drugs facing ongoing price negotiations with the federal Medicare program. The blood thinner is expected to lose market exclusivity by 2028.The effect of those negotiations on Eliquis is still unclear, Bristol Myers executives said during the call. The final negotiated price for the drug will be published later this year and go into effect in 2026, which is when the company expects a hit to revenue and profit.Meanwhile, Revlimid raked in $1.67 billion in sales, down 5% from the same period a year ago. Still, that surpassed analysts' revenue expectations of $1.22 billion for the drug, according to FactSet estimates.  Anemia drug Reblozyl and advanced melanoma treatment Opdualag also posted revenue growth during the first quarter. Reblozyl booked $354 million in sales, up 72% from the year-earlier period. Analysts had expected revenue of $330.8 million, according to FactSet.Opdualag generated $206 million in sales for the first quarter, which is up 76% from the same period a year ago. Analysts had expected revenue of $206.5 million, FactSet estimates said. The performance of other new drugs fell short of Wall Street's expectations. Abecma, a cell therapy for a rare blood cancer called multiple myeloma, drew $82 million in sales for the quarter. Analysts had expected $112.6 million in revenue, according to FactSet. The U.S. Food and Drug Administration earlier this month expanded its approval of that drug, allowing multiple myeloma patients to use it as an earlier line of treatment.An older drug, Opdivo, generated $2.07 billion in sales for the quarter, down 6% from the first quarter of 2023. Analysts had expected the drug to book $2.3 billion in revenue for the period, FactSet estimates said.",CNBC,25/04/2024,"['In this articleBristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as sales of its popular blood cancer treatment Revlimid and blockbuster blood thinner Eliquis came in higher than expected.', 'But the pharmaceutical company swung to a quarterly loss due to one-time charges related to its recently closed deals.', 'It also said it plans to cut $1.5 billion in costs by 2025, and reinvest the money in drug development.', 'Bristol Myers will lay off 2,200 employees this year, discontinue some drug programs, eliminate open roles, consolidate its sites and reduce management layers, among other cost savings.', 'The company said it will prioritize investment in its key drug brands, optimize operations across the company and focus its resources on research and development programs that could deliver the highest returns for the company and the greatest health benefits for patients.', 'Two-thirds of savings are associated with drug research and development, Bristol Myers executives said during an earnings call Thursday.', 'The company has discontinued about 12 drug programs so far and will evaluate others to drop throughout year, said Bristol Myers Chief Medical Officer Dr. Samit Hirawat.', 'Bristol Myers CEO Chris Boerner added that the majority of savings are coming from existing in-house operations, not from newly acquired companies.', '""We are taking important actions to effectively manage the decade,"" Boerner said during the call. ""', 'Our management team has focused on ensuring the discipline execution required to deliver both this year and set us up for the longer term.', '""For the first quarter, Bristol Myers said the charges that weighed it down primarily reflect its $14 billion acquisition of neuroscience drugmaker Karuna Therapeutics and the collaboration agreement with SystImmune, a subsidiary of a Chinese biotech startup, to co-develop and market its experimental cancer treatment.', 'Those deals come as Bristol Myers faces pressure to launch new drugs and offset the potential loss of revenue from top-selling treatments.', ""The company's popular blood cancer treatment Revlimid — and eventually, Eliquis and cancer immunotherapy Opdivo — faces competition from cheaper copycats."", 'Shares of Bristol Myers fell more than 7% on Tuesday.', ""Here is what Bristol Myers reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Bristol Myers, one of the world's largest pharmaceutical companies, swung to a net loss of $11.9 billion, or $5.89 per share, during the first quarter."", 'That compares to net income of $2.3 billion, or $1.07 per share, for the same period a year ago.', 'Excluding certain items, its adjusted loss per share was $4.40 for the period.', 'The loss reflects a one-time $6.30 per share charge related to the recently closed deals, Bristol Myers said in a release.', 'Bristol Myers reported first-quarter revenue of $11.87 billion, up 5% from the year-earlier period.', 'The company reiterated its full-year revenue forecast of a low single-digit increase.', 'But Bristol Myers lowered its 2024 adjusted earnings guidance to 40 cents to 70 cents per share to reflect the effect of the recent deals.', 'That compares with a previous forecast of $7.10 to $7.40 per share, which did not include charges related to its buyouts of Karuna Therapeutics and radiopharmaceutical company RayzeBio, along with divestitures and other items.', 'Bristol Myers said revenue growth for the first quarter was primarily driven by higher sales of Eliquis and some of its newer drugs.', 'Eliquis booked $3.72 billion in sales for the quarter, up 9% from the year-ago period.', 'Analysts had expected Eliquis to draw $3.59 billion in revenue, according to estimates compiled by FactSet.', 'Eliquis, which Bristol Myers shares with Pfizer, is among the first 10 drugs facing ongoing price negotiations with the federal Medicare program.', 'The blood thinner is expected to lose market exclusivity by 2028.The effect of those negotiations on Eliquis is still unclear, Bristol Myers executives said during the call.', 'The final negotiated price for the drug will be published later this year and go into effect in 2026, which is when the company expects a hit to revenue and profit.', 'Meanwhile, Revlimid raked in $1.67 billion in sales, down 5% from the same period a year ago.', ""Still, that surpassed analysts' revenue expectations of $1.22 billion for the drug, according to FactSet estimates."", 'Anemia drug Reblozyl and advanced melanoma treatment Opdualag also posted revenue growth during the first quarter.', 'Reblozyl booked $354 million in sales, up 72% from the year-earlier period.', 'Analysts had expected revenue of $330.8 million, according to FactSet.', 'Opdualag generated $206 million in sales for the first quarter, which is up 76% from the same period a year ago.', 'Analysts had expected revenue of $206.5 million, FactSet estimates said.', ""The performance of other new drugs fell short of Wall Street's expectations."", 'Abecma, a cell therapy for a rare blood cancer called multiple myeloma, drew $82 million in sales for the quarter.', 'Analysts had expected $112.6 million in revenue, according to FactSet.', 'The U.S. Food and Drug Administration earlier this month expanded its approval of that drug, allowing multiple myeloma patients to use it as an earlier line of treatment.', 'An older drug, Opdivo, generated $2.07 billion in sales for the quarter, down 6% from the first quarter of 2023.', 'Analysts had expected the drug to book $2.3 billion in revenue for the period, FactSet estimates said.']",0.0461499500993691,"The company said it will prioritize investment in its key drug brands, optimize operations across the company and focus its resources on research and development programs that could deliver the highest returns for the company and the greatest health benefits for patients.","The company's popular blood cancer treatment Revlimid — and eventually, Eliquis and cancer immunotherapy Opdivo — faces competition from cheaper copycats.",0.3070554855991812,"Reblozyl booked $354 million in sales, up 72% from the year-earlier period.","Meanwhile, Revlimid raked in $1.67 billion in sales, down 5% from the same period a year ago.",2024-04-26
-Columbia president Minouche Shafik faces criticism in all directions,https://edition.cnn.com/2024/04/25/business/minouche-shafik-columbia-president/index.html,"
-  Updated
-        9:54 PM EDT, Thu April 25, 2024
-    ","When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees.
-    
-            Now, some of her own students and professors, as well as the speaker of the House of Representatives, are calling on her to resign.
-    
-            Just over nine months into her tenure, Shafik — an Egyptian-born economist and former high-ranking official at the World Bank, International Monetary Fund and Bank of England, and former president of the London School of Economics — is under pressure for her handling of Columbia campus protests over the war between Israel and Hamas.
-    
-            College administrators have been under intense scrutiny in the wake of the Israel-Hamas war. University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus.
-    
-            At Columbia, some students, faculty and left-leaning lawmakers are enraged that Shafik authorized the New York Police Department to shut down student protests on campus that have been urging the university to cut off its economic and academic ties to Israel. They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom. At the same time, students, religious groups and right-leaning lawmakers say the administration has failed to stop antisemitism inside Columbia’s campus and at protests outside its gates.
-    
-            “Calling in police enforcement on nonviolent demonstrations of young students on campus is an escalatory, reckless, and dangerous act,” Democratic Rep. Alexandra Ocasio-Cortez posted on X Tuesday. “It represents a heinous failure of leadership that puts people’s lives at risk. I condemn it in the strongest possible terms.”
-    
-            The Republican House speaker, Rep. Mike Johnson, called on Shafik to resign during a tense press conference Wednesday at Columbia. “I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said.
-    
-            “These are incredibly difficult situations for a university president, especially someone who is not tested over time,” said James Finkelstein, a professor emeritus of public policy at George Mason University who studies the selection and employment of university presidents.
-    
-            “She’s at serious risk of being able to survive this,” Finkelstein added. “The likelihood of her keeping her job is at best 50-50.”
-    
-            Columbia’s Board of Trustees is standing by Shafik, saying it “strongly supports” Shafik as she “steers the university through this extraordinarily challenging time.”
-    
-            “During the search process for this role, President Shafik told us that she would always take a thoughtful approach to resolving conflict, balancing the disparate voices that make up a vibrant campus like Columbia’s, while taking a firm stance against hatred, harassment, and discrimination,” the board said in a statement Wednesday. “That’s exactly what she’s doing now.”
-    
-            Shafik has now drawn comparisons to former Columbia president Grayson Kirk, who in 1968 called in 1,000 police officers in riot gear to quell students protesting the Vietnam War, Columbia’s role in military research and its relationship to the Harlem community.
-    
-            Kirk resigned later that year.
-    
-            Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus. Police arrested more than 100 people on suspicion of criminal trespassing, and Columbia suspended students participating in the protest encampment.
-    
-            “Columbia itself has its own traditions and memories of bringing police on campus,” Finkelstein said. “You have a historically activist faculty and student body.”
-    
-            Shafik’s decision to authorize the NYPD to arrest protestors “suggests to me being very insensitive to the history of the institution,” he said.
-    
-            Some Columbia faculty members have denounced Shafik’s decision to authorize the NYPD to remove protesters from campus and demanded all legal and disciplinary charges be dismissed and expunged from students’ records. The faculty voted to submit a symbolic measure censuring Shafik for her decision to authorize the NYPD, which they said was an “unprecedented assault on student rights.”
-    
-            Shafik has denounced antisemitism, urged students to report incidents of discrimination and said hateful speech and acts against Jews would be investigated by the university since Hamas’ attack on civilians in Israel on October 7.
-    
-            On November 1, she announced the formation of a university task force on antisemitism.
-    
-            During congressional testimony last week, Shafik said students and faculty have been disciplined for antisemitism and that more work was needed to combat antisemitism.
-    
-            Still, Shafik and the university administration are under fire for their response to antisemitism and to Islamophobia, as well.
-    
-            Last fall, a Columbia student who was hanging posters on campus in support of Israel was assaulted. The university has also faced criticism for hiring a professor who allegedly expressed support for Hamas on social media following the October 7 terror attack on Israel. That professor has been fired, Shafik said last Wednesday.
-    
-            The Department of Education is investigating Columbia, UPenn, Harvard and four other schools after complaints about alleged incidents of antisemitism and Islamophobia. At the conclusion of the investigations, the Department of Education will make recommendations to the schools. The schools risk losing federal funding if they don’t comply.
-    
-            Some Jewish students have described being verbally and physically harassed on campus, and there have been incidents outside of Columbia’s campus of antisemitism.
-    
-            Columbia’s Hillel group has called on the university to do more to protect students and ensure that students can walk around campus without fear of harassment.
-    
-            Some major donors, Republican lawmakers and a handful of Democratic lawmakers have said these incidents show Shafik’s response to antisemitism is lacking and called on her to resign.
-    
-            “I am no longer confident that Columbia can protect its students and staff, and I am not comfortable supporting the university until corrective action is taken,” New England Patriots owner Robert Kraft, who graduated from Columbia and has donated millions of dollars to the university, said Monday. “It is my hope that Columbia and its leadership will stand up to this hate by ending these protests immediately.”",CNN,25/04/2024,"['When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees.', 'Now, some of her own students and professors, as well as the speaker of the House of Representatives, are calling on her to resign.', 'Just over nine months into her tenure, Shafik — an Egyptian-born economist and former high-ranking official at the World Bank, International Monetary Fund and Bank of England, and former president of the London School of Economics — is under pressure for her handling of Columbia campus protests over the war between Israel and Hamas.', 'College administrators have been under intense scrutiny in the wake of the Israel-Hamas war.', 'University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus.', 'At Columbia, some students, faculty and left-leaning lawmakers are enraged that Shafik authorized the New York Police Department to shut down student protests on campus that have been urging the university to cut off its economic and academic ties to Israel.', 'They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom.', 'At the same time, students, religious groups and right-leaning lawmakers say the administration has failed to stop antisemitism inside Columbia’s campus and at protests outside its gates.', '“Calling in police enforcement on nonviolent demonstrations of young students on campus is an escalatory, reckless, and dangerous act,” Democratic Rep. Alexandra Ocasio-Cortez posted on X Tuesday. “', 'It represents a heinous failure of leadership that puts people’s lives at risk.', 'I condemn it in the strongest possible terms.”', 'The Republican House speaker, Rep. Mike Johnson, called on Shafik to resign during a tense press conference Wednesday at Columbia. “', 'I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said.', '“These are incredibly difficult situations for a university president, especially someone who is not tested over time,” said James Finkelstein, a professor emeritus of public policy at George Mason University who studies the selection and employment of university presidents.', '“She’s at serious risk of being able to survive this,” Finkelstein added. “', 'The likelihood of her keeping her job is at best 50-50.”', 'Columbia’s Board of Trustees is standing by Shafik, saying it “strongly supports” Shafik as she “steers the university through this extraordinarily challenging time.”', '“During the search process for this role, President Shafik told us that she would always take a thoughtful approach to resolving conflict, balancing the disparate voices that make up a vibrant campus like Columbia’s, while taking a firm stance against hatred, harassment, and discrimination,” the board said in a statement Wednesday. “', 'That’s exactly what she’s doing now.”', 'Shafik has now drawn comparisons to former Columbia president Grayson Kirk, who in 1968 called in 1,000 police officers in riot gear to quell students protesting the Vietnam War, Columbia’s role in military research and its relationship to the Harlem community.', 'Kirk resigned later that year.', 'Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus.', 'Police arrested more than 100 people on suspicion of criminal trespassing, and Columbia suspended students participating in the protest encampment.', '“Columbia itself has its own traditions and memories of bringing police on campus,” Finkelstein said. “', 'You have a historically activist faculty and student body.”', 'Shafik’s decision to authorize the NYPD to arrest protestors “suggests to me being very insensitive to the history of the institution,” he said.', 'Some Columbia faculty members have denouncedShafik’s decision to authorize the NYPD to remove protesters from campus and demanded all legal and disciplinary charges be dismissed and expunged from students’ records.', 'The faculty voted to submit a symbolic measure censuring Shafik for her decision to authorize the NYPD, which they said was an “unprecedented assault on student rights.”', 'Shafik has denounced antisemitism, urged students to report incidents of discrimination and said hateful speech and acts against Jews would be investigated by the university since Hamas’ attack on civilians in Israel on October 7.', 'On November 1, she announced the formation of a university task force on antisemitism.', 'During congressional testimony last week, Shafik said students and faculty have been disciplined for antisemitism and that more work was needed to combat antisemitism.', 'Still, Shafik and the university administration are under fire for their response to antisemitism and to Islamophobia, as well.', 'Last fall, a Columbia student who was hanging posters on campus in support of Israel wasassaulted.', 'The university has also faced criticism for hiring a professor who allegedly expressed support for Hamas on social media following the October 7 terror attack on Israel.', 'That professorhas been fired, Shafik said last Wednesday.', 'The Department of Education is investigating Columbia, UPenn, Harvard and four other schools after complaints about alleged incidents of antisemitism and Islamophobia.', 'At the conclusion of the investigations, the Department of Education will make recommendations to the schools.', 'The schools risk losing federal funding if they don’t comply.', 'Some Jewish students have described being verbally and physically harassed on campus, and there have been incidents outside of Columbia’s campus of antisemitism.', 'Columbia’s Hillel group has called on the university to do more to protect students and ensure that students can walk around campus without fear of harassment.', 'Some major donors, Republican lawmakers and a handful of Democratic lawmakers have said these incidents show Shafik’s response to antisemitism is lacking and called on her to resign.', '“I am no longer confident that Columbia can protect its students and staff, and I am not comfortable supporting the university until corrective action is taken,” New England Patriots owner Robert Kraft, who graduated from Columbia and has donated millions of dollars to the university, said Monday. “', 'It is my hope that Columbia and its leadership will stand up to this hate by ending these protests immediately.”']",-0.2815594025415867,Columbia’s Hillel group has called on the university to do more to protect students and ensure that students can walk around campus without fear of harassment.,"Police arrested more than 100 people on suspicion of criminal trespassing, and Columbia suspended students participating in the protest encampment.",-0.7069205108441805,"When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees.","“I am no longer confident that Columbia can protect its students and staff, and I am not comfortable supporting the university until corrective action is taken,” New England Patriots owner Robert Kraft, who graduated from Columbia and has donated millions of dollars to the university, said Monday. “",2024-04-26
-Google surges after buying back billions of dollars of its own stock,https://edition.cnn.com/2024/04/25/tech/google-tech-earnings-dividend/index.html,"
-  Updated
-        11:36 PM EDT, Thu April 25, 2024
-    ","Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell. All it had to do was to hand out billions of dollars to investors.
-    
-            The tech giant announced its first quarterly cash dividend, saying it will pay $0.20 per share on June 17 to shareholders of record as of June 10, as well as a $70 billion share buyback. Buybacks and dividends help to boost stock prices by rewarding investors with cash just for holding the stock — but they’re widely criticized for artificially inflating the stock price without spending on employees or improvements to the underlying business.
-    
-            Google’s stock jumped as much as 13% in after-hours trading following the report.
-    
-            The announcement came as part of Google’s earnings report for the first three months of the year, in which it also reported that it exceeded Wall Street analysts’ expectations for both sales and profits.
-    
-            Revenue from the quarter reached more than $80.5 billion, up 15% from the same period in the prior year and ahead of the $78.75 billion analysts had projected, according to FactSet estimates. The company also reported 57% year-over-year growth in profits to nearly $23.7 billion.
-    
-            Alphabet chief executive Sundar Pichai attributed the success to the company’s investments in artificial intelligence, including the large language model and suite of AI products it calls Gemini.
-    
-            “We are well under way with our Gemini era and there’s great momentum across the company. Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation,” Pichai said.
-    
-            Google’s results were a sign of how investors may reward some tech companies for their investments in artificial intelligence, which many see as the future of the sector.
-    
-            “We have clear paths to AI monetization through ads and cloud, as well as subscriptions,” Pichai said on a call with analysts following Thursday’s report.
-    
-            But not every company has successfully convinced investors that they’re investing in AI responsibly. Meta shares sank on Thursday after the company raised its annual expense forecast to fund its AI ambitions, despite better-than-expected earnings results Wednesday.
-    
-            But in addition to Google, multiple positive tech earnings reports on Thursday helped reverse what had been a sluggish day for tech stocks.
-    
-            Social media company Snap, the parent company of social media platform Snapchat, also saw its stock climb after-hours on the heels of a rosy first-quarter earnings report that beat Wall Street’s estimates.
-    
-            Snap reported revenue of some $1.19 billion for the first three months of the year, up 21% from the year-ago quarter. And it said daily active users increased 10% year-over-year. The company also offered a better-than-expected outlook for the current quarter.
-    
-            Snap has been working to improve its advertising technology and offerings, while undergoing a restructuring aimed at cutting costs. While it nonetheless reported a net loss of $305 million for the March quarter, it was an improvement from its loss a year ago and better than analysts expected.
-    
-            Snap shares soared roughly 25% in after-hours trading immediately following the report.
-    
-            Meanwhile, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago, signaling that the company’s efforts to double down on AI are also paying off. Revenue grew 17% year-over-year to $61.9 billion.
-    
-            “Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” chief executive officer Satya Nadella said in a statement, referring to Microsoft’s AI services.
-    
-            Microsoft shares climbed more than 4% in after-hours trading Thursday.
-    
-            While rivals play catch up, Jeremy Goldman, a senior director at market research company eMarketer, wrote in an analyst note that it’s clear that Microsoft’s early bets on OpenAI’s ChatGPT are paying off through products like its Copilot for Microsoft365, an AI chat assistant built into its existing suite of business products.
-    
-            “Investors should keep an eye on potential AI overspending, but for now, Satya Nadella’s forward-looking strategy is building value by infusing productive intelligence across Microsoft’s entire portfolio, from the cloud to the desktop.”
-    
-            Microsoft’s Azure cloud business also experienced strong growth – revenue grew 31% – boosted by AI tailwinds.",CNN,25/04/2024,"['Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell.', 'All it had to do was to hand out billions of dollars to investors.', 'The tech giant announced its first quarterly cash dividend, saying it will pay $0.20 per share on June 17 to shareholders of record as of June 10, as well as a $70 billion share buyback.', 'Buybacks and dividends help to boost stock prices by rewarding investors with cash just for holding the stock — but they’re widely criticized for artificially inflating the stock price without spending on employees or improvements to the underlying business.', 'Google’s stock jumped as much as 13% in after-hours trading following the report.', 'The announcement came as part of Google’s earnings report for the first three months of the year, in which it also reported that it exceeded Wall Street analysts’ expectations for both sales and profits.', 'Revenue from the quarter reached more than $80.5 billion, up 15% from the same period in the prior year and ahead of the $78.75 billion analysts had projected, according to FactSet estimates.', 'The company also reported 57% year-over-year growth in profits to nearly $23.7 billion.', 'Alphabet chief executive Sundar Pichai attributed the success to the company’s investments in artificial intelligence, including the large language model and suite of AI products it calls Gemini.', '“We are well under way with our Gemini era and there’s great momentum across the company.', 'Our leadership in AI research and infrastructure, and our global product footprint, position us well for the next wave of AI innovation,” Pichai said.', 'Google’s results were a sign of how investors may reward some tech companies for their investments in artificial intelligence, which many see as the future of the sector.', '“We have clear paths to AI monetization through ads and cloud, as well as subscriptions,” Pichai said on a call with analysts following Thursday’s report.', 'But not every company has successfully convinced investors that they’re investing in AI responsibly.', 'Meta shares sank on Thursday after the company raised its annual expense forecast to fund its AI ambitions, despite better-than-expected earnings results Wednesday.', 'But in addition to Google, multiple positive tech earnings reports on Thursday helped reverse what had been a sluggish day for tech stocks.', 'Social media company Snap, the parent company of social media platform Snapchat, also saw its stock climb after-hours on the heels of a rosy first-quarter earnings report that beat Wall Street’s estimates.', 'Snap reported revenue of some $1.19 billion for the first three months of the year, up 21% from the year-ago quarter.', 'And it said daily active users increased 10% year-over-year.', 'The company also offered a better-than-expected outlook for the current quarter.', 'Snap has been working to improve its advertising technology and offerings, while undergoing a restructuring aimed at cutting costs.', 'While it nonetheless reported a net loss of $305 million for the March quarter, it was an improvement from its loss a year ago and better than analysts expected.', 'Snap shares soared roughly 25% in after-hours trading immediately following the report.', 'Meanwhile, Microsoft reported quarterly profits of $21.9 billion, up from $18.3 billion a year ago, signaling that the company’s efforts to double down on AI are also paying off.', 'Revenue grew 17% year-over-year to $61.9 billion.', '“Microsoft Copilot and Copilot stack are orchestrating a new era of AI transformation, driving better business outcomes across every role and industry,” chief executive officer Satya Nadella said in a statement, referring to Microsoft’s AI services.', 'Microsoft shares climbed more than 4% in after-hours trading Thursday.', 'While rivals play catch up, Jeremy Goldman, a senior director at market research company eMarketer, wrote in an analyst note that it’s clear that Microsoft’s early bets on OpenAI’s ChatGPT are paying off through products like its Copilot for Microsoft365, an AI chat assistant built into its existing suite of business products.', '“Investors should keep an eye on potential AI overspending, but for now, Satya Nadella’s forward-looking strategy is building value by infusing productive intelligence across Microsoft’s entire portfolio, from the cloud to the desktop.”', 'Microsoft’s Azure cloud business also experienced strong growth – revenue grew 31% – boosted by AI tailwinds.']",0.4239755682621723,But not every company has successfully convinced investors that they’re investing in AI responsibly.,"Alphabet, the parent company of Google, bounced back from an absolutely dreadful day for tech shares, as its stock surged Thursday after the closing bell.",0.9254777254881682,Revenue grew 17% year-over-year to $61.9 billion.,"Meta shares sank on Thursday after the company raised its annual expense forecast to fund its AI ambitions, despite better-than-expected earnings results Wednesday.",2024-04-26
-"Starbucks, Workers United made 'significant progress' in this week's contract talks",https://www.cnbc.com/2024/04/26/starbucks-workers-united-union-make-progress-in-negotiations.html,2024-04-26T17:46:12+0000,"In this articleStarbucks and Workers United, representing roughly 400 of its cafes, said Friday in a joint release that they made ""significant progress"" in their contract talks this week.The two parties discussed a process to resolve grievances, details related to the union's representation of Starbucks baristas, and other topics on Wednesday and Thursday in Atlanta, according to the press release.The two-day session marked the first time in nearly a year that Starbucks and Workers United came to the bargaining table. It followed a February announcement that the two sides were ending their bitter stalemate.The coffee giant spent more than two years battling the union, which is an affiliate of the Service Employees International Union, or SEIU. Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.This week's talks are the closest that any of the unionized locations, which make up a small fraction of Starbucks' total U.S. footprint, have come to a collective bargaining agreement.Yet, there's still a long road ahead.""There's more to do, but we are committed to working together,"" both sides said in a joint statement.Starbucks and the union plan to meet again in late May to keep working on the framework that will inform every single-store contract, according to the release. Individual stores will still have to negotiate and ratify their contracts once that foundation has been built.Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith. After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations. Correction: This article has been updated to reflect that Starbucks and Workers United represent about 400 cafes. An earlier version misstated the number.",CNBC,26/04/2024,"['In this articleStarbucks and Workers United, representing roughly 400 of its cafes, said Friday in a joint release that they made ""significant progress"" in their contract talks this week.', ""The two parties discussed a process to resolve grievances, details related to the union's representation of Starbucks baristas, and other topics on Wednesday and Thursday in Atlanta, according to the press release."", 'The two-day session marked the first time in nearly a year that Starbucks and Workers United came to the bargaining table.', 'It followed a February announcement that the two sides were ending their bitter stalemate.', 'The coffee giant spent more than two years battling the union, which is an affiliate of the Service Employees International Union, or SEIU.', 'Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.', ""This week's talks are the closest that any of the unionized locations, which make up a small fraction of Starbucks' total U.S. footprint, have come to a collective bargaining agreement."", ""Yet, there's still a long road ahead."", '""There\'s more to do, but we are committed to working together,"" both sides said in a joint statement.', 'Starbucks and the union plan to meet again in late May to keep working on the framework that will inform every single-store contract, according to the release.', 'Individual stores will still have to negotiate and ratify their contracts once that foundation has been built.', 'Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.', 'After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations.', 'Correction: This article has been updated to reflect that Starbucks and Workers United represent about 400 cafes.', 'An earlier version misstated the number.']",0.239976481095241,"Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.",It followed a February announcement that the two sides were ending their bitter stalemate.,0.999555766582489,"In this articleStarbucks and Workers United, representing roughly 400 of its cafes, said Friday in a joint release that they made ""significant progress"" in their contract talks this week.",,2024-04-26
-Fears about stagflation are mounting in the US. It’s every central banker’s worst nightmare,https://edition.cnn.com/2024/04/25/economy/stagflation-us-economy-gdp/index.html,"
-  Published
-        5:26 PM EDT, Thu April 25, 2024
-    ","For the past few years, the US economy has been growing at a pace that seemed too good to be true.
-    
-            So, at first glance, Thursday’s gross domestic product report showing the US economy grew at an annualized rate of 1.6% in the first quarter of this year versus the 3.4% rate in the fourth quarter of last year seems to be just the medicine the Federal Reserve doctors ordered. But there’s just one problem: inflation.
-    
-            The latest Consumer Price Index data shows inflation is rising, moving further away from the Fed’s 2% target. And economists are forecasting new inflation data due Friday will paint a similar picture. The GDP report gave another preview of what could come.
-    
-            Included in the report was an update on inflation from the prior quarter, as measured by the Fed’s preferred gauge, the Personal Consumption Expenditures price index. The latest data showed prices ticked up to a 3.4% annualized rate in the first quarter compared to 1.8% in the last quarter of 2023.
-    
-            Slowing economic growth combined with rising inflation is known as stagflation. It’s among the ugliest terms to central bankers. 
-    
-            To be fair, one GDP report isn’t necessarily indicative of a trend. And on top of that, Thursday’s data is subject to two subsequent revisions, which could end up showing the economy isn’t slowing as much or at all. But even if the data doesn’t change, the US is by far better positioned than the UK and Germany, where high inflation is coupled with nearly nonexistent GDP growth.  
-    
-            Still, the latest US GDP report isn’t a pleasant sign for the Fed — or investors, as evidenced by Thursday’s US stock market selloff.
-    
-            Low rates of unemployment tend to compensate for some of the pain that high levels of inflation bring. That’s because businesses generally can only raise prices when people are earning enough to afford it. In contrast, when unemployment is high and people are cutting corners, businesses will have a tough time passing on higher prices to their customers, which keeps inflation low.
-    
-            One of the worst bouts of stagflation happened in the 1970s after a spike in oil prices from the Arab oil embargo on the US and other countries that supported Israel in the 1973 Yom Kippur War raised the cost of living dramatically. But when the Fed tried to ease inflation by raising interest rates, the economy fell into a recession.
-    
-            JPMorgan Chase CEO Jamie Dimon has concerns that history could repeat itself.
-    
-            The US economy “looks more like the 1970s than we’ve seen before,” he said earlier this week at a discussion hosted by the Economic Club of New York. He repeated that message in a Wall Street Journal interview published Thursday before the GDP report was released. “Things looked pretty rosy in 1972 — they were not rosy in 1973,” Dimon said.
-    
-            There are certainly eerie parallels to the 1970s, with heightened geopolitical tensions in the Middle East and rising oil prices, but many economists feel the US is nowhere near the situation it faced then. Even at its recent peak, inflation was well below the high of that decade of nearly 12%. At the current pace, prices are rising even more slowly when compared to the 1970s.
-    
-            But the growing consensus among economists and investment strategists is that the days of the Goldilocks economy, where inflation was coming down without slowing GDP, are numbered.
-    
-            “While the Goldilocks narrative has prevailed so far this year, in more ways than one it’s as if she tripped over today’s GDP report and scraped her knee,” wrote Mike Reynolds, vice president of investment strategy at Glenmede, in a note Thursday.",CNN,25/04/2024,"['For the past few years, the US economy has been growing at a pace that seemed too good to be true.', 'So, at first glance, Thursday’s gross domestic product report showing the US economy grew at an annualized rate of 1.6% in the first quarter of this year versus the 3.4% rate in the fourth quarter of last year seems to be just the medicine the Federal Reserve doctors ordered.', 'But there’s just one problem: inflation.', 'The latest Consumer Price Index data shows inflation is rising, moving further away from the Fed’s 2% target.', 'And economists are forecasting new inflation data due Friday will paint a similar picture.', 'The GDP report gave another preview of what could come.', 'Included in the report was an update on inflation from the prior quarter, as measured by the Fed’s preferred gauge, the Personal Consumption Expenditures price index.', 'The latest data showed prices ticked up to a 3.4% annualized rate in the first quarter compared to 1.8% in the last quarter of 2023.', 'Slowing economic growth combined with rising inflation is known as stagflation.', 'It’s among the ugliest terms to central bankers.', 'To be fair, one GDP report isn’t necessarily indicative of a trend.', 'And on top of that, Thursday’s data is subject to two subsequent revisions, which could end up showing the economy isn’t slowing as much or at all.', 'But even if the data doesn’t change, the US is by far better positioned than the UK and Germany, where high inflation is coupled with nearly nonexistent GDP growth.', 'Still, the latest US GDP report isn’t a pleasant sign for the Fed — or investors, as evidenced by Thursday’s US stock market selloff.', 'Low rates of unemployment tend to compensate for some of the pain that high levels of inflation bring.', 'That’s because businesses generally can only raise prices when people are earning enough to afford it.', 'In contrast, when unemployment is high and people are cutting corners, businesses will have a tough time passing on higher prices to their customers, which keeps inflation low.', 'One of the worst bouts of stagflation happened in the 1970s after a spike in oil prices from the Arab oil embargo on the US and other countries that supported Israel in the 1973 Yom Kippur War raised the cost of living dramatically.', 'But when the Fed tried to ease inflation by raising interest rates, the economy fell into a recession.', 'JPMorgan Chase CEO Jamie Dimon has concerns that history could repeat itself.', 'The US economy “looks more like the 1970s than we’ve seen before,” he said earlier this week at a discussion hosted by the Economic Club of New York.', 'He repeated that message in a Wall Street Journal interview published Thursday before the GDP report was released. “', 'Things looked pretty rosy in 1972 — they were not rosy in 1973,” Dimon said.', 'There are certainly eerie parallels to the 1970s, with heightened geopolitical tensions in the Middle East and rising oil prices, but many economists feel the US is nowhere near the situation it faced then.', 'Even at its recent peak, inflation was well below the high of that decade of nearly 12%.', 'At the current pace, prices are rising even more slowly when compared to the 1970s.', 'But the growing consensus among economists and investment strategists is that the days of the Goldilocks economy, where inflation was coming down without slowing GDP, are numbered.', '“While theGoldilocksnarrative has prevailed so far this year,in more ways than one it’s as if she tripped over today’s GDP report and scraped her knee,” wrote Mike Reynolds, vice president of investment strategy at Glenmede, in a note Thursday.']",0.0146169894680376,"But even if the data doesn’t change, the US is by far better positioned than the UK and Germany, where high inflation is coupled with nearly nonexistent GDP growth.",Low rates of unemployment tend to compensate for some of the pain that high levels of inflation bring.,-0.0205229151816595,"So, at first glance, Thursday’s gross domestic product report showing the US economy grew at an annualized rate of 1.6% in the first quarter of this year versus the 3.4% rate in the fourth quarter of last year seems to be just the medicine the Federal Reserve doctors ordered.","Even at its recent peak, inflation was well below the high of that decade of nearly 12%.",2024-04-26
-Lloyds hit as banks compete for mortgage customers,https://www.bbc.co.uk/news/business-68887633,2024-04-24T07:24:09.000Z,"Lloyds Banking Group's profits plunged by 28% in early 2024 as competition grew for mortgages and deposits. The bank posted pre-tax profits of £1.6bn between January and March, down from £2.3bn last year. Lloyds said its margins had been hit ""mainly within UK mortgages"" amid heightened competition between lenders to offer squeezed buyers better deals. The UK's biggest lender also made less from loans to businesses, but more from credit cards and car finance. The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).  The fall was expected as more people moved their cash into savings accounts with higher returns and mortgage rates eased because of the competition stepping up among lenders. ""The company has seen competition in the mortgage market bring down its returns and savers move deposits into higher interest accounts - meaning it is paying out more to customers, "" said Russ Mould, investment director at AJ Bell. Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.  For the whole of 2023, Lloyds' pre-tax profits jumped to £7.5bn, which was higher than expected and up 57% on 2022. Borrowing costs have risen as the Bank of England has increased its base interest rate in a bid to bring down inflation - which measures price rises over time. But Mr Mould suggested that ""Lloyds' brief moment in the sun, when rates moved sharply higher and it was able to generate higher margins, seems to have come to an end"". In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade. The Bank of England is expected to cut rates this year, but predictions of when such a move might take place has seen some lenders start raising mortgage rates in recent days. Lloyds' rivals HSBC, NatWest and Barclays all raised rates on fixed-term loans, though not on all products, due to financial markets predicting an interest rate cut might not be as soon as previously expected. Lloyds said it still believed the Bank would cut rates by 0.25 percentage points three times before the end of 2024, which if happens, would see rates fall from 5.25% to 4.5%. On Wednesday, the average two-year fixed mortgage stood at 5.83%, while the average five-year deal was 5.41%.   Lloyds' latest results also showed the shift in more customers moving cash out of current accounts and into savings accounts had continued. The group also said it had faced higher running costs in early 2024, including a new sector-wide Bank of England levy on lenders and a £100m additional charge to cover employee severance after a recent round of redundancies. It confirmed it had not set aside any further cash to the £450m it has already allocated to cover the potential cost of an investigation into car finance deals by the UK's financial regulator. A probe into whether people had beenpaying too much for cars was launched by the Financial Conduct Authority (FCA) in January. Matt Britzman, equity analyst at investment firm Hargreaves Lansdown, said while Lloyds' profit fall looked ""substantial from this time last year"", it had been expected. Charlie Nunn, Lloyds' chief executive, said the quarterly results provided the group with ""further confidence"" around its strategic ambitions and showed the bank was ""continuing to support customers"". As well as announcing its latest earnings, Lloyds released forecasts for house prices. The group said it expected house prices to rise by 1.5% in 2024 and average that amount over the next four years. Separately on Wednesday, Heathrow Airport reported a huge rise in profits before tax of £189m for the three months to 31 March after recording a £60m loss for the same period last year. The UK's biggest airport said some 18.5 million passengers travelled through it in early 2024, partly driven by growth on business routes to Delhi and Mumbai in India and strong North American traffic. It has predicted this summer will be its ""busiest on record"", adding it had ""a robust operating plan in place to keep the airport running smoothly, even if unnecessary industrial action materialises"". Holiday firm Jet2 also said its summer season was 55% sold so far, with forward bookings for package holiday customers up by 13% and flight-only passengers up by more than 18%. ",BBC,24/04/2024,"[""Lloyds Banking Group's profits plunged by 28% in early 2024 as competition grew for mortgages and deposits."", 'The bank posted pre-tax profits of £1.6bn between January and March, down from £2.3bn last year.', 'Lloyds said its margins had been hit ""mainly within UK mortgages"" amid heightened competition between lenders to offer squeezed buyers better deals.', ""The UK's biggest lender also made less from loans to businesses, but more from credit cards and car finance."", 'The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).', 'The fall was expected as more people moved their cash into savings accounts with higher returns and mortgage rates eased because of the competition stepping up among lenders. ""', 'The company has seen competition in the mortgage market bring down its returns and savers move deposits into higher interest accounts - meaning it is paying out more to customers, "" said Russ Mould, investment director at AJ Bell.', ""Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans."", ""For the whole of 2023, Lloyds' pre-tax profits jumped to £7.5bn, which was higher than expected and up 57% on 2022."", 'Borrowing costs have risen as the Bank of England has increased its base interest rate in a bid to bring down inflation - which measures price rises over time.', 'But Mr Mould suggested that ""Lloyds\' brief moment in the sun, when rates moved sharply higher and it was able to generate higher margins, seems to have come to an end"".', 'In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade.', 'The Bank of England is expected to cut rates this year, but predictions of when such a move might take place has seen some lenders start raising mortgage rates in recent days.', ""Lloyds' rivals HSBC, NatWest and Barclays all raised rates on fixed-term loans, though not on all products, due to financial markets predicting an interest rate cut might not be as soon as previously expected."", 'Lloyds said it still believed the Bank would cut rates by 0.25 percentage points three times before the end of 2024, which if happens, would see rates fall from 5.25% to 4.5%.', 'On Wednesday, the average two-year fixed mortgage stood at 5.83%, while the average five-year deal was 5.41%.', ""Lloyds' latest results also showed the shift in more customers moving cash out of current accounts and into savings accounts had continued."", 'The group also said it had faced higher running costs in early 2024, including a new sector-wide Bank of England levy on lenders and a £100m additional charge to cover employee severance after a recent round of redundancies.', ""It confirmed it had not set aside any further cash to the £450m it has already allocated to cover the potential cost of an investigation into car finance deals by the UK's financial regulator."", 'A probe into whether people had beenpaying too much for cars was launched by the Financial Conduct Authority (FCA) in January.', 'Matt Britzman, equity analyst at investment firm Hargreaves Lansdown, said while Lloyds\' profit fall looked ""substantial from this time last year"", it had been expected.', 'Charlie Nunn, Lloyds\' chief executive, said the quarterly results provided the group with ""further confidence"" around its strategic ambitions and showed the bank was ""continuing to support customers"".', 'As well as announcing its latest earnings, Lloyds released forecasts for house prices.', 'The group said it expected house prices to rise by 1.5% in 2024 and average that amount over the next four years.', 'Separately on Wednesday, Heathrow Airport reported a huge rise in profits before tax of £189m for the three months to 31 March after recording a £60m loss for the same period last year.', ""The UK's biggest airport said some 18.5 million passengers travelled through it in early 2024, partly driven by growth on business routes to Delhi and Mumbai in India and strong North American traffic."", 'It has predicted this summer will be its ""busiest on record"", adding it had ""a robust operating plan in place to keep the airport running smoothly, even if unnecessary industrial action materialises"".', 'Holiday firm Jet2 also said its summer season was 55% sold so far, with forward bookings for package holiday customers up by 13% and flight-only passengers up by more than 18%.']",0.3043739212593588,"Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.","In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade.",0.2630734118548306,"Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.","The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).",2024-04-26
-"Post Office paid widow in instalments for silence, inquiry hears",https://www.bbc.co.uk/news/articles/c88z431n2v5o,2024-04-26T15:52:26.920Z,"The widow of a sub-postmaster who took his own life had to sign a non-disclosure agreement with the Post Office in exchange for staggered compensation payments, an inquiry has heard. The family of sub-postmaster Martin Griffiths also had to agree not to pursue legal action to try to clear his name and get more money. The details emerged as part of a long-running inquiry into the prosecution of hundreds of sub-postmasters by the Post Office.  During a second day of questioning, former Post Office executive Angela van den Bogerd was shown emails where she and her colleagues discussed hiring a media lawyer after learning that Mr Griffiths was seriously ill in hospital. It also emerged that the then chief executive, Paula Vennells, questioned whether Mr Griffiths had ""previous mental health issues and potential family issues"" to feed back to the board. Between 1999 and 2015, the Post Office prosecuted hundreds of sub-postmasters for offences such as theft and false accounting on the strength of faulty Horizon accounting software. Mr Griffiths had been pursued for a supposed shortfall amounting to £100,000 at his post office in Cheshire. He had written to the Post Office that July about a £39,000 shortfall at his branch between February 2012 and May 2013. He was also being held culpable for losses from an armed robbery at his branch in May of that year. An email from campaigner Alan Bates to Post Office executives quoted Mr Griffiths' mother saying that ""the Post Office had driven him to suicide"". The email was eventually forwarded to Ms van den Bogerd with a suggestion from the communications head Mark Davies to hire a specialist media lawyer. Counsel for the inquiry Jason Beer KC asked Ms van den Bogerd: ""The immediate reaction was not 'what can we, the Post Office, do to help this man's family', was it?"" She replied: ""Not at this point."" Mr Beer asked if that was what it was like working in the Post Office at this time. ""That the first thought was, we need a media lawyer?"" She replied: ""In all my time with Post Office from very, very early on, I was very conscious that PR was very important."" Following his death, the family was offered £140,000, with the condition that they do not pursue the Post Office for any more money, and keep quiet about the deal. The payments were staggered, which the Post Office ""asked for as an incentive to Mrs Griffiths maintaining confidentiality"", according to a 2015 email from Post Office litigation lawyer Rodric Williams to Ms van den Bogerd. She said the deal had been offered as a way of getting money to Mrs Griffiths more quickly than through the mediation scheme the Post Office had set up. In further questioning, Ms van den Bogerd was hit with accusation after accusation  from lawyer Ed Henry, each of which she denied or disagreed with. Mr Henry accused her of ""deliberately supressing the truth"" to which she replied: ""No I would never do that."" Mr Henry said she was ""letting wrongful convictions stand"", to which she said: ""No."" The hearing was attended by a number of former sub-postmasters, including Parmod Kalia. He used to work at the Orpington branch, and was given a six month jail sentence after being falsely accused of stealing £22,000 from the Post Office. Mr Kalia sat in the inquiry room with tears in his eyes as lawyer Ed Henry questioned Ms van den Bogerd about a letter she sent to him in 2015 insisting that the Horizon system was robust. As the inquiry broke for lunch, Mr Kalia told the BBC that the exchange was ""very tough"" to watch. “He [Mr Henry] brought back memories of my mum. I had to beg and borrow from her, and I could never pay her back."" “It was very important for the barrister to bring it up."" He said he wanted ""some kind of acceptance"" from Ms van den Bogerd. “I haven't got what I’m looking for, which is a public apology to me personally. I know she apologised to everyone yesterday, but that was off a bit of paper.” “She’s broken me” he added. ",BBC,26/04/2024,"['The widow of a sub-postmaster who took his own life had to sign a non-disclosure agreement with the Post Office in exchange for staggered compensation payments, an inquiry has heard.', 'The family of sub-postmaster Martin Griffiths also had to agree not to pursue legal action to try to clear his name and get more money.', 'The details emerged as part of a long-running inquiry into the prosecution of hundreds of sub-postmasters by the Post Office.', 'During a second day of questioning, former Post Office executive Angela van den Bogerd was shown emails where she and her colleagues discussed hiring a media lawyer after learning that Mr Griffiths was seriously ill in hospital.', 'It also emerged that the then chief executive, Paula Vennells, questioned whether Mr Griffiths had ""previous mental health issues and potential family issues"" to feed back to the board.', 'Between 1999 and 2015, the Post Office prosecuted hundreds of sub-postmasters for offences such as theft and false accounting on the strength of faulty Horizon accounting software.', 'Mr Griffiths had been pursued for a supposed shortfall amounting to £100,000 at his post office in Cheshire.', 'He had written to the Post Office that July about a £39,000 shortfall at his branch between February 2012 and May 2013.', 'He was also being held culpable for losses from an armed robbery at his branch in May of that year.', 'An email from campaigner Alan Bates to Post Office executives quoted Mr Griffiths\' mother saying that ""the Post Office had driven him to suicide"".', 'The email was eventually forwarded to Ms van den Bogerd with a suggestion from the communications head Mark Davies to hire a specialist media lawyer.', 'Counsel for the inquiry Jason Beer KC asked Ms van den Bogerd: ""The immediate reaction was not \'what can we, the Post Office, do to help this man\'s family\', was it?""', 'She replied: ""Not at this point.""', 'Mr Beer asked if that was what it was like working in the Post Office at this time. ""', 'That the first thought was, we need a media lawyer?""', 'She replied: ""In all my time with Post Office from very, very early on, I was very conscious that PR was very important.""', 'Following his death, the family was offered £140,000, with the condition that they do not pursue the Post Office for any more money, and keep quiet about the deal.', 'The payments were staggered, which the Post Office ""asked for as an incentive to Mrs Griffiths maintaining confidentiality"", according to a 2015 email from Post Office litigation lawyer Rodric Williams to Ms van den Bogerd.', 'She said the deal had been offered as a way of getting money to Mrs Griffiths more quickly than through the mediation scheme the Post Office had set up.', 'In further questioning, Ms van den Bogerd was hit with accusation after accusation from lawyer Ed Henry, each of which she denied or disagreed with.', 'Mr Henry accused her of ""deliberately supressing the truth"" to which she replied: ""No I would never do that.""', 'Mr Henry said she was ""letting wrongful convictions stand"", to which she said: ""No.""', 'The hearing was attended by a number of former sub-postmasters, including Parmod Kalia.', 'He used to work at the Orpington branch, and was given a six month jail sentence after being falsely accused of stealing £22,000 from the Post Office.', 'Mr Kalia sat in the inquiry room with tears in his eyes as lawyer Ed Henry questioned Ms van den Bogerd about a letter she sent to him in 2015 insisting that the Horizon system was robust.', 'As the inquiry broke for lunch, Mr Kalia told the BBC that the exchange was ""very tough"" to watch. “', 'He [Mr Henry] brought back memories of my mum.', 'I had to beg and borrow from her, and I could never pay her back."" “', 'It was very important for the barrister to bring it up.""', 'He said he wanted ""some kind of acceptance"" from Ms van den Bogerd. “', ""I haven't got what I’m looking for, which is a public apology to me personally."", 'I know she apologised to everyone yesterday, but that was off a bit of paper.” “', 'She’s broken me” he added.']",-0.0867481427947272,"He said he wanted ""some kind of acceptance"" from Ms van den Bogerd. “","In further questioning, Ms van den Bogerd was hit with accusation after accusation from lawyer Ed Henry, each of which she denied or disagreed with.",-0.4651322662830353,She said the deal had been offered as a way of getting money to Mrs Griffiths more quickly than through the mediation scheme the Post Office had set up.,"He had written to the Post Office that July about a £39,000 shortfall at his branch between February 2012 and May 2013.",2024-04-26
-Comcast beats earnings estimates even as it sheds more broadband subscribers,https://www.cnbc.com/2024/04/25/comcast-cmcsa-earnings-1q24.html,2024-04-25T15:24:55+0000,"In this articleComcast beat first-quarter earnings expectations on Thursday as broadband drove revenue even as the company and its peers have seen customer growth slow.Here is how Comcast performed, compared with estimates from analysts surveyed by LSEG:For the quarter that ended March 31, net income rose 0.6% to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share, a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, slid 0.6% to roughly $9.4 billion.The company's revenue grew 1.2% to $30.06 billion compared to the same period last year. Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter.Comcast's stock was trading down about 6% on Thursday.Cable broadband companies' customer additions have slumped in recent quarters and weighed on stock prices.The slowdown in the buying and selling of houses due to high interest rates has led to a decline in new home internet connections. Cable providers have also been hit with heightened competition for home broadband from wireless companies such as T-Mobile and Verizon.Mike Cavanagh, president of Comcast, said on Thursday's earnings call that the market is ""extremely competitive,"" especially for ""cost-conscious customers.""Earlier this month, Comcast said it would launch NOW, a prepaid and month-to-month low-cost internet and phone plan program. The plan is designed to provide fixed wireless options at a low cost.The plan supplements Comcast's long-standing internet option for low-income customers, called Internet Essentials.Company executives do not expect an improvement in the near term, particularly with the expected end of the federal government's Affordable Connectivity Program, or ACP, which offers a $30 discount on broadband services to qualifying low-income households, in April.Comcast's wireless business saw a 21% increase in customers during the quarter to 6.9 million total lines. The company lost 487,000 cable TV customers during the quarter as consumers continued to cut the cord in favor of streaming.The company's theme parks adjusted EBITDA fell 3.9% to $632 million during the quarter, due to an increase in operating expenses such as higher marketing and promotion costs, as well as the negative effect of foreign currency.On Thursday, Cavanagh noted attendance at the Orlando theme park ""felt some pressure"" in the most recent quarter, as the company is in between introducing new attractions. He added the company is confident about long-term growth and future opportunities for its parks.Increased competition, particularly from cruises, also weighed on theme parks, Comcast Chief Financial Officer Jason Armstrong said on Thursday's call.Similarly, earnings for its media business, which includes NBCUniversal, and studios also declined. The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion.Still, Comcast executives touted the strength of Universal Pictures' film slate, from recent Academy Award winners ""Oppenheimer"" and ""The Holdovers,"" to upcoming highly anticipated movies such as the adaptation of the Broadway hit ""Wicked.""Peacock, which executives also highlighted as a bright spot and a boost to NBCUniversal, is also reaping the benefits of the film slate.Being the exclusive home of ""Oppenheimer"" when it was first released to streaming earlier this year proved to be a win for the platform. Comcast said it was the most-watched movie in Peacock history.The service added three million paid subscribers during the quarter, bringing its total number of customers to 34 million. The exclusive National Football League Wild Card game on Peacock helped to add, and then retain, more customers than expected, executives said on Thursday's call.""We're 3.5 years in, we're at a place where we're really seeing traction in our approach,"" Cavanagh said Thursday, pointing to the strength in the combination of sports and entertainment.While Peacock is known for its large offering of live sports, including the NFL and the Premier League, Cavanagh said subscribers spend 90% of their time on nonsports programming on shows such as Peacock original ""Ted,"" and its Universal film collection. He added that the company expects Peacock to have ""real pricing power"" over time.Revenue for the streamer rose 54% to $1.1 billion compared to the same period last year. While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock. Media companies have been facing a longer-than-expected soft advertising market.Losses stemming from Peacock weighed on the segment and offset higher revenue. The company saw an adjusted EBITDA loss of $639 million related to Peacock during the quarter. That improved, however, from an adjusted EBITDA loss of $704 million in the same period last year.Peacock losses were said to peak in 2023, and executives expect them to narrow in upcoming quarters. The Olympics in Paris this summer should also drive growth for the streaming service.With more hours of the Olympics on its broadcast network NBC, in addition to Peacock, the company is on track to generate its most advertising revenue in its history for the Olympics.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,25/04/2024,"['In this articleComcast beat first-quarter earnings expectations on Thursday as broadband drove revenue even as the company and its peers have seen customer growth slow.', 'Here is how Comcast performed, compared with estimates from analysts surveyed by LSEG:For the quarter that ended March 31, net income rose 0.6% to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share, a year earlier.', 'Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, slid 0.6% to roughly $9.4 billion.', ""The company's revenue grew 1.2% to $30.06 billion compared to the same period last year."", 'Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter.', ""Comcast's stock was trading down about 6% on Thursday."", ""Cable broadband companies' customer additions have slumped in recent quarters and weighed on stock prices."", 'The slowdown in the buying and selling of houses due to high interest rates has led to a decline in new home internet connections.', 'Cable providers have also been hit with heightened competition for home broadband from wireless companies such as T-Mobile and Verizon.', 'Mike Cavanagh, president of Comcast, said on Thursday\'s earnings call that the market is ""extremely competitive,"" especially for ""cost-conscious customers.', '""Earlier this month, Comcast said it would launch NOW, a prepaid and month-to-month low-cost internet and phone plan program.', 'The plan is designed to provide fixed wireless options at a low cost.', ""The plan supplements Comcast's long-standing internet option for low-income customers, called Internet Essentials."", ""Company executives do not expect an improvement in the near term, particularly with the expected end of the federal government's Affordable Connectivity Program, or ACP, which offers a $30 discount on broadband services to qualifying low-income households, in April."", ""Comcast's wireless business saw a 21% increase in customers during the quarter to 6.9 million total lines."", 'The company lost 487,000 cable TV customers during the quarter as consumers continued to cut the cord in favor of streaming.', ""The company's theme parks adjusted EBITDA fell 3.9% to $632 million during the quarter,due to an increase in operating expenses such as higher marketing and promotion costs, as well as the negative effect of foreign currency."", 'On Thursday, Cavanagh noted attendance at the Orlando theme park ""felt some pressure"" in the most recent quarter, as the company is in between introducing new attractions.', 'He added the company is confident about long-term growth and future opportunities for its parks.', ""Increased competition, particularly from cruises, also weighed on theme parks, Comcast Chief Financial Officer Jason Armstrong said on Thursday's call."", 'Similarly, earnings for its media business, which includes NBCUniversal, and studios also declined.', 'The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion.', 'Still, Comcast executives touted the strength of Universal Pictures\' film slate, from recent Academy Award winners ""Oppenheimer"" and ""The Holdovers,"" to upcoming highly anticipated movies such as the adaptation of the Broadway hit ""Wicked.', '""Peacock, which executives also highlighted as a bright spot and a boost to NBCUniversal, is also reaping the benefits of the film slate.', 'Being the exclusive home of ""Oppenheimer"" when it was first released to streaming earlier this year proved to be a win for the platform.', 'Comcast said it was the most-watched movie in Peacock history.', 'The service added three million paid subscribers during the quarter, bringing its total number of customers to 34 million.', ""The exclusive National Football League Wild Card game on Peacock helped to add, and then retain, more customers than expected, executives said on Thursday's call."", '""We\'re 3.5 years in, we\'re at a place where we\'re really seeing traction in our approach,"" Cavanagh said Thursday, pointing to the strength in the combination of sports and entertainment.', 'While Peacock is known for its large offering of live sports, including the NFL and the Premier League, Cavanagh said subscribers spend 90% of their time on nonsports programming on shows such as Peacock original ""Ted,"" and its Universal film collection.', 'He added that the company expects Peacock to have ""real pricing power"" over time.', 'Revenue for the streamer rose 54% to $1.1 billion compared to the same period last year.', 'While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock.', 'Media companies have been facing a longer-than-expected soft advertising market.', 'Losses stemming from Peacock weighed on the segment and offset higher revenue.', 'The company saw an adjusted EBITDA loss of $639 million related to Peacock during the quarter.', 'That improved, however, from an adjusted EBITDA loss of $704 million in the same period last year.', 'Peacock losses were said to peak in 2023, and executives expect them to narrow in upcoming quarters.', 'The Olympics in Paris this summer should also drive growth for the streaming service.', 'With more hours of the Olympics on its broadcast network NBC, in addition to Peacock, the company is on track to generate its most advertising revenue in its history for the Olympics.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.1527713570776127,He added the company is confident about long-term growth and future opportunities for its parks.,"Company executives do not expect an improvement in the near term, particularly with the expected end of the federal government's Affordable Connectivity Program, or ACP, which offers a $30 discount on broadband services to qualifying low-income households, in April.",0.1793343950720394,"The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion.","The company's theme parks adjusted EBITDA fell 3.9% to $632 million during the quarter,due to an increase in operating expenses such as higher marketing and promotion costs, as well as the negative effect of foreign currency.",2024-04-26
-A CVS Health pharmacy in Vegas becomes first to join new national pharmacy union,https://www.cnbc.com/2024/04/26/cvs-omnicare-pharmacy-in-vegas-is-first-to-join-new-pharmacy-union.html,2024-04-26T19:44:59+0000,"In this articleA CVS Omnicare pharmacy in Las Vegas has become the first location to join a new national pharmacy union, a milestone for organizers trying to help thousands of U.S. pharmacy workers address what they call unsafe working conditions. Nearly 30 pharmacy staff at the Las Vegas branch of CVS's Omnicare won their union election on Thursday by a landslide margin of 87% to 13%, according to a press release from the guild. The pharmacists and pharmacy technicians there fill prescriptions for the elderly and other vulnerable patients at long-term care facilities across Nevada. Those workers now join the Pharmacy Guild, which will represent them in labor negotiations with CVS. ""We're going to try to get a best-in-the-industry contract for these people that have trusted our union to represent them. It's a historic win and a very decisive one,"" Shane Jerominski, a community pharmacist and co-founder of the Pharmacy Guild, told CNBC.  Jerominski and other organizers of a recent nationwide walkout of pharmacy staff partnered with IAM Healthcare – a union representing thousands of health-care professionals – to launch the Pharmacy Guild in November. That work stoppage in late October, which organizers dubbed ""Pharmageddon,"" spanned major drugstore chains like CVS, Walgreens and Rite Aid, drawing widespread media attention to the scope of workers' concerns.Like the walkout effort, the Pharmacy Guild aims to help pharmacy staff address what many employees call unsafe staffing levels and increasing workloads throughout the industry that put both employees and patients at risk. The guild also calls for legislative and regulatory changes to establish higher standards of practice in pharmacies to protect patients. The unionization effort is the culmination of years of growing discontent among retail pharmacy staff, who often grapple with understaffed teams and increasing work expectations imposed by corporate management. The Covid pandemic only exacerbated those issues, as new duties like testing and vaccination stretched pharmacists and technicians even thinner. In a statement, a CVS Health spokesperson said the company respects its employees' right to unionize or refrain from doing so, including the decision of Omnicare Las Vegas workers to choose union representation. The company added that it will work ""closely and collaboratively"" with its employees to address their current and future concerns and is ""committed to providing a positive and rewarding work environment."" Omnicare, acquired by CVS in 2015, is not a public-facing pharmacy like most of the chain's nearly 10,000 locations. There are Omnicare pharmacies in 49 states, according to CVS's website. But Omnicare and other pharmacies share the same issues that range from staffing levels to low starting pay for technicians, Jerominski said. ""It's not specific to Omnicare, the problems they were expressing were the same problems I'm hearing across the country. It's ubiquitous across all major chains,"" Jerominski said. ""You can only ask a company to support you for so long. … This is the reason why the walkouts happened. They finally said 'No, we are going to get the help that we demand.'"" The Pharmacy Guild will now work to strike a union contract with CVS to address the concerns of Omnicare workers in Las Vegas. Jerominski said those employees want consistent work schedules that guarantee pharmacy technicians 40 hours a week year-round.""You can't retain individuals with a skill set and a family, especially with the stress level that this job has, if you don't even just guarantee them their 40 hours,"" Jerominski told CNBC. The Pharmacy Guild is seeing momentum build in other parts of the country. Pharmacy staff at two retail stores in Rhode Island have officially confirmed that they filed to unionize with the guild, according to Jerominski.CVS's headquarters is based in the state.",CNBC,26/04/2024,"['In this articleA CVS Omnicare pharmacy in Las Vegas has become the first location to join a new national pharmacy union, a milestone for organizers trying to help thousands of U.S. pharmacy workers address what they call unsafe working conditions.', ""Nearly 30 pharmacy staff at the Las Vegas branch of CVS's Omnicare won their union election on Thursday by a landslide margin of 87% to 13%, according to a press release from the guild."", 'The pharmacists and pharmacy technicians there fill prescriptions for the elderly and other vulnerable patients at long-term care facilities across Nevada.', 'Those workers now join the Pharmacy Guild, which will represent them in labor negotiations with CVS.""We\'re going to try to get a best-in-the-industry contract for these people that have trusted our union to represent them.', 'It\'s a historic win and a very decisive one,"" Shane Jerominski, a community pharmacist and co-founder of the Pharmacy Guild, told CNBC.Jerominski and other organizers of a recent nationwide walkout of pharmacy staff partnered with IAM Healthcare – a union representing thousands of health-care professionals – to launch the Pharmacy Guild in November.', 'That work stoppage in late October, which organizers dubbed ""Pharmageddon,"" spanned major drugstore chains like CVS, Walgreens and Rite Aid, drawing widespread media attention to the scope of workers\' concerns.', 'Like the walkout effort, the Pharmacy Guild aims to help pharmacy staff address what many employees call unsafe staffing levels and increasing workloads throughout the industry that put both employees and patients at risk.', 'The guild also calls for legislative and regulatory changes to establish higher standards of practice in pharmacies to protect patients.', 'The unionization effort is the culmination of years of growing discontent among retail pharmacy staff, who often grapple with understaffed teams and increasing work expectations imposed by corporate management.', 'The Covid pandemic only exacerbated those issues, as new duties like testing and vaccination stretched pharmacists and technicians even thinner.', ""In a statement, a CVS Health spokesperson said the company respects its employees' right to unionize or refrain from doing so, including the decision of Omnicare Las Vegas workers to choose union representation."", 'The company added that it will work ""closely and collaboratively"" with its employees to address their current and future concerns and is ""committed to providing a positive and rewarding work environment.', '""Omnicare, acquired by CVS in 2015, is not a public-facing pharmacy like most of the chain\'s nearly 10,000 locations.', ""There are Omnicare pharmacies in 49 states, according to CVS's website."", 'But Omnicare and other pharmacies share the same issues that range from staffing levels to low starting pay for technicians, Jerominski said.', '""It\'s not specific to Omnicare, the problems they were expressing were the same problems I\'m hearing across the country.', 'It\'s ubiquitous across all major chains,"" Jerominski said. ""', 'You can only ask a company to support you for so long. …', 'This is the reason why the walkouts happened.', ""They finally said 'No, we are going to get the help that we demand."", '\'""The Pharmacy Guild will now work to strike a union contract with CVS to address the concerns of Omnicare workers in Las Vegas.', 'Jerominski said those employees want consistent work schedules that guarantee pharmacy technicians 40 hours a week year-round.', '""You can\'t retain individuals with a skill set and a family, especially with the stress level that this job has, if you don\'t even just guarantee them their 40 hours,"" Jerominski told CNBC.The Pharmacy Guild is seeing momentum build in other parts of the country.', 'Pharmacy staff at two retail stores in Rhode Island have officially confirmed that they filed to unionize with the guild, according to Jerominski.', ""CVS's headquarters is based in the state.""]",0.2197163049413804,"Those workers now join the Pharmacy Guild, which will represent them in labor negotiations with CVS.""We're going to try to get a best-in-the-industry contract for these people that have trusted our union to represent them.","""It's not specific to Omnicare, the problems they were expressing were the same problems I'm hearing across the country.",0.1158540580007765,"It's a historic win and a very decisive one,"" Shane Jerominski, a community pharmacist and co-founder of the Pharmacy Guild, told CNBC.Jerominski and other organizers of a recent nationwide walkout of pharmacy staff partnered with IAM Healthcare – a union representing thousands of health-care professionals – to launch the Pharmacy Guild in November.","The Covid pandemic only exacerbated those issues, as new duties like testing and vaccination stretched pharmacists and technicians even thinner.",2024-04-26
-What's behind a dramatic fall in Indian families' savings,https://www.bbc.co.uk/news/world-asia-india-68874403,2024-04-26T01:59:44.000Z,"For decades, India has been a nation of savers. They stash away a significant portion of their earnings for future security, often at the expense of current consumption.  But something seems to be amiss now. Recent data from the Reserve Bank of India says India's net household savings stood at a 47-year-old low. Household net savings are the total money and investments families have, like deposits, stocks and bonus, minus any money they owe, like loans and debt.   Savings shrank to 5.3% of the gross domestic product (GDP) in the financial year 2023, down from 7.3% in 2022. One economist called this fall ""dramatic"". There has also been a sharp jump in household debt in the same period. Annual borrowings stood at 5.8% of GDP - the second-highest level after the 1970s.  As households increasingly rely on debt to fuel consumption, their savings inevitably erode. The more they borrow, they dedicate more of their income to repaying debt, leaving less for savings.  Nikhil Gupta, economist at Motilal Oswal Financial Services, says a significant portion of India's increasing household debt is made up of non-mortgage loans. Farm and business loans comprise over half of these loans. (An interesting aside: In 2022, non-mortgage debt in India matched Australia and Japan, and surpassed many other major nations, including the US and China.) Mr Gupta also found that while borrowing for consumption - credit cards, consumer durables, weddings, health emergencies, for example - makes up less than 20% of total household debt, it was the fastest-growing segment.  So what does this trend of low savings and high debt tell us about India's economy, the fifth largest in the world? Do increased borrowing and spending point to optimism for the future, or do they warn of challenges such as declining incomes, inflation and economic stress?   ""There is some amount of consumer confidence. There are many Indians who hope income growth will be strong enough in future. Or they just want to have a good life right now rather than think about what will happen to the future,"" Mr Gupta says. ""Is there a change in [the Indian] mindset about spending [more]? Maybe,"" he says, adding that it's not clear yet what is driving this. What about borrowing money out of necessity or desperation, typically during times of financial hardship or crisis? Extended distress borrowing could easily lead to loan defaults. On the other hand, if the lenders are doing their homework, why would they continue to lend to non-creditworthy borrowers in the throes of a financial crisis? A key problem, according to Mr Gupta, is the lack of granular detail in the official data on the borrowers. What kind of jobs they do? How many people have taken how many loans? (One borrower can take multiple loans.) What are they using the loans for? What is their repayment history?  Some clues are available. Mr Gupta and fellow economist Tanisha Ladha at Motilal Oswal have found that the bulk of household debt growth in the past decade was driven by 'credit widening' - an increase in the number of borrowers - rather than 'credit deepening' or higher loans per borrower. Having more people borrowing is preferable to having each borrower take out larger loans. They also found that Indian households have a debt service ratio (DSR) - the share of income used to service loans - of approximately 12%, similar to Nordic countries. This ratio is higher than that of China, France, the UK, and the US, all of which have higher household debt levels. The difference is due to higher interest rates and shorter loan tenures in India, resulting in a relatively higher DSR despite lower debt-to-income ratios. In September, India's finance ministry dismissed fears about reducing savings and increasing borrowings, saying people were taking advantage of low interest rates after the pandemic to buy cars, education loans and homes.  Also, it said, more people were borrowing to buy assets like home and vehicles which is ""not a sign of distress but of confidence in the future employment and income prospects"".  Zico Dasgupta and Srinivas Raghavendra of Azim Premji University, however, sound a note of caution. The decline in savings coupled with the increase in debt prompted concerns regarding ""debt repayment and financial fragility"", the two economists wrote in The Hindu.  Others like economist Rathin Roy worry about a growing reliance on borrowing in a nation with the lowest per capita income among G20 countries. The government borrows to fund basic services and subsidies, while households borrow to consume, he noted in Business Standard. This reduces the already ""declining flow of financial savings"" and increases the cost of borrowing. Mr Gupta and Ms Ladha believe that the current high level of borrowing in a year does not endanger India's financial or macroeconomic stability. But there are concerns about its sustainability if this trend persists.  ""Consumer India's consumption is located at the crossroads of high aspiration for a better life, woefully inadequate quality and quantity of public goods and amenities and modest incomes which are also unstable,"" writes Rama Bijapurkar, a business consultant, in her new book Lilliput Land.  In other words, the Indian consumer is engaged in a deft balancing act.  ",BBC,26/04/2024,"['For decades, India has been a nation of savers.', 'They stash away a significant portion of their earnings for future security, often at the expense of current consumption.', 'But something seems to be amiss now.', ""Recent data from the Reserve Bank of India says India's net household savings stood at a 47-year-old low."", 'Household net savings are the total money and investments families have, like deposits, stocks and bonus, minus any money they owe, like loans and debt.', 'Savings shrank to 5.3% of the gross domestic product (GDP) in the financial year 2023, down from 7.3% in 2022.', 'One economist called this fall ""dramatic"".', 'There has also been a sharp jump in household debt in the same period.', 'Annual borrowings stood at 5.8% of GDP - the second-highest level after the 1970s.', 'As households increasingly rely on debt to fuel consumption, their savings inevitably erode.', 'The more they borrow, they dedicate more of their income to repaying debt, leaving less for savings.', ""Nikhil Gupta, economist at Motilal Oswal Financial Services, says a significant portion of India's increasing household debt is made up of non-mortgage loans."", 'Farm and business loans comprise over half of these loans. (', 'An interesting aside: In 2022, non-mortgage debt in India matched Australia and Japan, and surpassed many other major nations, including the US and China.)', 'Mr Gupta also found that while borrowing for consumption - credit cards, consumer durables, weddings, health emergencies, for example - makes up less than 20% of total household debt, it was the fastest-growing segment.', ""So what does this trend of low savings and high debt tell us about India's economy, the fifth largest in the world?"", 'Do increased borrowing and spending point to optimism for the future, or do they warn of challenges such as declining incomes, inflation and economic stress? ""', 'There is some amount of consumer confidence.', 'There are many Indians who hope income growth will be strong enough in future.', 'Or they just want to have a good life right now rather than think about what will happen to the future,"" Mr Gupta says. ""', 'Is there a change in [the Indian] mindset about spending [more]?', 'Maybe,"" he says, adding that it\'s not clear yet what is driving this.', 'What about borrowing money out of necessity or desperation, typically during times of financial hardship or crisis?', 'Extended distress borrowing could easily lead to loan defaults.', 'On the other hand, if the lenders are doing their homework, why would they continue to lend to non-creditworthy borrowers in the throes of a financial crisis?', 'A key problem, according to Mr Gupta, is the lack of granular detail in the official data on the borrowers.', 'What kind of jobs they do?', 'How many people have taken how many loans? (', 'One borrower can take multiple loans.)', 'What are they using the loans for?', 'What is their repayment history?', 'Some clues are available.', ""Mr Gupta and fellow economist Tanisha Ladha at Motilal Oswal have found that the bulk of household debt growth in the past decade was driven by 'credit widening' - an increase in the number of borrowers - rather than 'credit deepening' or higher loans per borrower."", 'Having more people borrowing is preferable to having each borrower take out larger loans.', 'They also found that Indian households have a debt service ratio (DSR) - the share of income used to service loans - of approximately 12%, similar to Nordic countries.', 'This ratio is higher than that of China, France, the UK, and the US, all of which have higher household debt levels.', 'The difference is due to higher interest rates and shorter loan tenures in India, resulting in a relatively higher DSR despite lower debt-to-income ratios.', ""In September, India's finance ministry dismissed fears about reducing savings and increasing borrowings, saying people were taking advantage of low interest rates after the pandemic to buy cars, education loans and homes."", 'Also, it said, more people were borrowing to buy assets like home and vehicles which is ""not a sign of distress but of confidence in the future employment and income prospects"".', 'Zico Dasgupta and Srinivas Raghavendra of Azim Premji University, however, sound a note of caution.', 'The decline in savings coupled with the increase in debt prompted concerns regarding ""debt repayment and financial fragility"", the two economists wrote in The Hindu.', 'Others like economist Rathin Roy worry about a growing reliance on borrowing in a nation with the lowest per capita income among G20 countries.', 'The government borrows to fund basic services and subsidies, while households borrow to consume, he noted in Business Standard.', 'This reduces the already ""declining flow of financial savings"" and increases the cost of borrowing.', ""Mr Gupta and Ms Ladha believe that the current high level of borrowing in a year does not endanger India's financial or macroeconomic stability."", 'But there are concerns about its sustainability if this trend persists. ""', 'Consumer India\'s consumption is located at the crossroads of high aspiration for a better life, woefully inadequate quality and quantity of public goods and amenities and modest incomes which are also unstable,"" writes Rama Bijapurkar, a business consultant, in her new book Lilliput Land.', 'In other words, the Indian consumer is engaged in a deft balancing act.']",0.0188201266844309,There are many Indians who hope income growth will be strong enough in future.,"What about borrowing money out of necessity or desperation, typically during times of financial hardship or crisis?",-0.0114283756567881,There are many Indians who hope income growth will be strong enough in future.,"Savings shrank to 5.3% of the gross domestic product (GDP) in the financial year 2023, down from 7.3% in 2022.",2024-04-26
-TikTok vows to fight 'unconstitutional' US ban,https://www.bbc.co.uk/news/articles/c87zp82247yo,2024-04-24T01:50:59.548Z,"TikTok says it will challenge in court an ""unconstitutional"" law that could result in it being sold or banned in the United States. President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to divest the app or it will be blocked in the US. The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. ""We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew. ""The facts, and the Constitution, are on our side... rest assured, we aren't going anywhere."" In a video posted on the platform, he lambasted the bill and called for people to share their stories of how TikTok had improved their lives. ""Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said. In a separate statement TikTok added that it believed ""the facts and the law"" were ""clearly"" on its side. ""The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said. The measure was passed as part of a package of four bills which also included military aid for Ukraine, Israel, Taiwan and other US partners in the Indo-Pacific region. It had widespread support from lawmakers, with 79 Senators voting for it and 18 against. ""For years we've allowed the Chinese Communist party to control one of the most popular apps in America... that was dangerously short-sighted,"" said Senator Marco Rubio, the top Republican on the Intelligence Committee. ""A new law is going to require its Chinese owner to sell the app. This is a good move for America,"" he added. TikTok has said ByteDance ""is not an agent of China or any other country"". ByteDance insists it is not a Chinese firm, pointing to the global investment firms that own 60% of it.  Experts have told the BBC the bill is ""a big deal"" but have warned it faces multiple hurdles. It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process. In November, a U.S. federal judge in Montana blocked an effort to ban TikTok within the state. The popularity of the app with young Americans could also be problematic. “About two in three young people in the US have a TikTok account,"" said Andrew Przybylski, professor of human behaviour and technology at Oxford University. “The primary challenge is going to be on freedom of speech and freedom of expression. ""The UN Charter on the Rights of the Child is quite specific: young people have a right to information and a right to play, so I think it can be challenged on those grounds.” Jennifer Huddleston from the Cato institute, in Washington, said any sale might be delayed because of the “considerable” regulatory scrutiny it would attract. ""Nine months is a rather quick timeframe for this size of a transaction - it's something that is likely to have further regulatory scrutiny even without the requirements in this proposal,"" she said. ""The question remains - what does it mean to even sell TikTok in the US, is that truly possible, and what would a buyer look like?"" Exactly who would be able to buy and operate it is also a big question - the price would likely be in the tens of billions of dollars, meaning there would be few potential buyers. Brooke Erin Duffy, associate professor of communication at Cornell University, said TikTok users in the US had been bracing themselves for a ban ""for quite some time"". ""The Senate decision injects a heightened level of uncertainty into the livelihoods of countless content creators, influencers, and small business owners,"" she said. If it is not sold in time, the app could be blocked in the country - the US says this is because it is concerned TikTok could be used to spy on Americans, or to spread propaganda. TikTok gathers similar kinds of data to other apps, but the US is concerned this data could fall into the hands of the Chinese government - claims the company has always contested. Elsewhere, the firm has agreed to suspend its TikTok Lite rewards programme, which pays users to spend time on the app in France and Spain. European Commissioner Thierry Breton said the feature was ""toxic and addictive"", particularly when used by children, and threatened to block it unless action was taken. The EU said its investigation into the feature would continue. ",BBC,24/04/2024,"['TikTok says it will challenge in court an ""unconstitutional"" law that could result in it being sold or banned in the United States.', ""President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to divest the app or it will be blocked in the US."", 'The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. ""', 'We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew. ""', 'The facts, and the Constitution, are on our side... rest assured, we aren\'t going anywhere.""', 'In a video posted on the platform, he lambasted the bill and called for people to share their stories of how TikTok had improved their lives. ""', 'Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said.', 'In a separate statement TikTok added that it believed ""the facts and the law"" were ""clearly"" on its side. ""', 'The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said.', 'The measure was passed as part of a package of four bills which also included military aid for Ukraine, Israel, Taiwan and other US partners in the Indo-Pacific region.', 'It had widespread support from lawmakers, with 79 Senators voting for it and 18 against. ""', 'For years we\'ve allowed the Chinese Communist party to control one of the most popular apps in America... that was dangerously short-sighted,"" said Senator Marco Rubio, the top Republican on the Intelligence Committee. ""', 'A new law is going to require its Chinese owner to sell the app.', 'This is a good move for America,"" he added.', 'TikTok has said ByteDance ""is not an agent of China or any other country"".', 'ByteDance insists it is not a Chinese firm, pointing to the global investment firms that own 60% of it.', 'Experts have told the BBC the bill is ""a big deal"" but have warned it faces multiple hurdles.', 'It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process.', 'In November, a U.S. federal judge in Montana blocked an effort to ban TikTok within the state.', 'The popularity of the app with young Americans could also be problematic. “', 'About two in three young people in the US have a TikTok account,"" said Andrew Przybylski, professor of human behaviour and technology at Oxford University. “', 'The primary challenge is going to be on freedom of speech and freedom of expression. ""', 'The UN Charter on the Rights of the Child is quite specific: young people have a right to information and a right to play, so I think it can be challenged on those grounds.”', 'Jennifer Huddleston from the Cato institute, in Washington, said any sale might be delayed because of the “considerable” regulatory scrutiny it would attract. ""', 'Nine months is a rather quick timeframe for this size of a transaction - it\'s something that is likely to have further regulatory scrutiny even without the requirements in this proposal,"" she said. ""', 'The question remains - what does it mean to even sell TikTok in the US, is that truly possible, and what would a buyer look like?""', 'Exactly who would be able to buy and operate it is also a big question - the price would likely be in the tens of billions of dollars, meaning there would be few potential buyers.', 'Brooke Erin Duffy, associate professor of communication at Cornell University, said TikTok users in the US had been bracing themselves for a ban ""for quite some time"". ""', 'The Senate decision injects a heightened level of uncertainty into the livelihoods of countless content creators, influencers, and small business owners,"" she said.', 'If it is not sold in time, the app could be blocked in the country - the US says this is because it is concerned TikTok could be used to spy on Americans, or to spread propaganda.', 'TikTok gathers similar kinds of data to other apps, but the US is concerned this data could fall into the hands of the Chinese government - claims the company has always contested.', 'Elsewhere, the firm has agreed to suspend its TikTok Lite rewards programme, which pays users to spend time on the app in France and Spain.', 'European Commissioner Thierry Breton said the feature was ""toxic and addictive"", particularly when used by children, and threatened to block it unless action was taken.', 'The EU said its investigation into the feature would continue.']",0.0616827327069505,"The primary challenge is going to be on freedom of speech and freedom of expression. ""","Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said.",-0.2037454201624943,"This is a good move for America,"" he added.",The popularity of the app with young Americans could also be problematic. “,2024-04-26
-"Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up",https://www.cnbc.com/2024/04/24/biogen-biib-earnings-q1-2024-.html,2024-04-24T14:26:32+0000,"In this articleBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected.Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July. The treatment's launch has been sluggish, but uptake appeared to accelerate towards the end of the first quarter.Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year. That blows past the $11 million analysts had expected, according to estimates compiled by FactSet. The number of patients on the therapy increased nearly 2.5 times since the end of 2023, according to Biogen. The company added that the number of new patients who started Leqembi jumped in March, making up more than 20% of the cumulative patients now on the treatment. Biogen did not provide a specific number of patients using Leqembi. But in February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi. Biogen and Eisai had previously aimed to treat 10,000 patients by March, but indicated in February that it would not meet the target.Biogen is seeing an ""awful lot of momentum"" in the Leqembi rollout and expects quarter-over-quarter growth in the number of patients, but that increase may not be linear, Viehbacher said during an earnings call Wednesday. He noted that Biogen plans to expand its U.S. marketing force by 30% to support Leqembi's launch.Bottlenecks related to Leqembi's requirements, such as twice-monthly infusions and regular brain scans, have slowed the uptake of the drug, he added.The company hopes the drug and other newly launched products will drive growth as it cuts costs and sees sales plummet for its multiple sclerosis therapies, some of which face generic competition.Shares of Biogen rose 6% on Wednesday following the results.Here's what Biogen reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The biotech company booked sales of $2.29 billion for the quarter, down 7% from the same period a year ago. It reported net income of $393.4 million, or $2.70 per share, for the first quarter, up from net income of $387.9 million, or $2.67 per share, for the same period a year ago. Adjusting for one-time items, the company reported earnings of $3.67 per share.Biogen reiterated its full-year 2024 adjusted earnings forecast of $15 to $16 per share. Analysts surveyed by LSEG had expected full-year earnings guidance of $15.49 per share. The company also reiterated its 2024 sales guidance of a low- to mid-single-digit percentage decline compared with last year.Apart from Leqembi, investors also have their eyes on other newly launched drugs. That includes Skyclarys, brought in by Biogen's acquisition of Reata Pharmaceuticals in July. That drug notched $78 million in first-quarter revenue.Analysts had expected sales of $68.8 million, according to FactSet estimates. The Food and Drug Administration cleared Skyclarys last year, making it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5. In February, European Union regulators approved Skyclarys for the treatment of Friedreich's ataxia in patients ages 16 and up. More than 1,100 patients in the U.S. and 300 in the EU are now taking Skyclarys, Biogen executives said during the earnings call on Wednesday.Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August. But the agency declined to clear the drug for major depressive disorder, which is a far larger market. Biogen said that pill, called Zurzuvae, generated first-quarter sales of $12 million. Analysts had expected just $5 million in sales of that drug, FactSet said.Meanwhile, Biogen's first-quarter revenue from multiple sclerosis products fell 4% to $1.08 billion as some of its therapies face competition from cheaper generics. The company's once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue of $254.3 million in the first quarter, down from $274.5 million from the same period a year ago. Still, that came in higher than analysts' estimate of $227.7 million, according to FactSet. Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $127.5 million in sales. That came in below analysts' estimates of $137.9 million, FactSet estimates said. Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago. Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $341.3 million in sales. That came under analysts' estimate of $415.1 million in revenue, according to FactSet. Biogen said the timing of Spinraza shipments and increased competition affected first-quarter revenue comparisons outside of the U.S.The company's biosimilar drugs booked $196.9 million in sales, up slightly from the $192.4 million reported during the year-earlier period. Analysts had expected sales of $192.5 million from those medicines.Correction: Skyclarys had $78 million in first-quarter revenue. An earlier version misstated the quarter.",CNBC,24/04/2024,"[""In this articleBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected."", ""Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July."", ""The treatment's launch has been sluggish, but uptake appeared to accelerate towards the end of the first quarter."", 'Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year.', 'That blows past the $11 million analysts had expected, according to estimates compiled by FactSet.', 'The number of patients on the therapy increased nearly 2.5 times since the end of 2023, according to Biogen.', 'The company added that the number of new patients who started Leqembi jumped in March, making up more than 20% of the cumulative patients now on the treatment.', 'Biogen did not provide a specific number of patients using Leqembi.', 'But in February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi.', 'Biogen and Eisai had previously aimed to treat 10,000 patients by March, but indicated in February that it would not meet the target.', 'Biogen is seeing an ""awful lot of momentum"" in the Leqembi rollout and expects quarter-over-quarter growth in the number of patients, but that increase may not be linear, Viehbacher said during an earnings call Wednesday.', ""He noted that Biogen plans to expand its U.S. marketing force by 30% to support Leqembi's launch."", ""Bottlenecks related to Leqembi's requirements, such as twice-monthly infusions and regular brain scans, have slowed the uptake of the drug, he added."", 'The company hopes the drug and other newly launched products will drive growth as it cuts costs and sees sales plummet for its multiple sclerosis therapies, some of which face generic competition.', 'Shares of Biogen rose 6% on Wednesday following the results.', ""Here's what Biogen reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The biotech company booked sales of $2.29 billion for the quarter, down 7% from the same period a year ago."", 'It reported net income of $393.4 million, or $2.70 per share, for the first quarter, up from net income of $387.9 million, or $2.67 per share, for the same period a year ago.', 'Adjusting for one-time items, the company reported earnings of $3.67 per share.', 'Biogen reiterated its full-year 2024 adjusted earnings forecast of $15 to $16 per share.', 'Analysts surveyed by LSEG had expected full-year earnings guidance of $15.49 per share.', 'The company also reiterated its 2024 sales guidance of a low- to mid-single-digit percentage decline compared with last year.', 'Apart from Leqembi, investors also have their eyes on other newly launched drugs.', ""That includes Skyclarys, brought in by Biogen's acquisition of Reata Pharmaceuticals in July."", 'That drug notched $78 million in first-quarter revenue.', 'Analysts had expected sales of $68.8 million, according to FactSet estimates.', ""The Food and Drug Administration cleared Skyclarys last year, making it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5."", ""In February, European Union regulators approved Skyclarys for the treatment of Friedreich's ataxia in patients ages 16 and up."", 'More than 1,100 patients in the U.S. and 300 in the EU are now taking Skyclarys, Biogen executives said during the earnings call on Wednesday.', 'Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August.', 'But the agency declined to clear the drug for major depressive disorder, which is a far larger market.', 'Biogen said that pill, called Zurzuvae, generated first-quarter sales of $12 million.', 'Analysts had expected just $5 million in sales of that drug, FactSet said.', ""Meanwhile, Biogen's first-quarter revenue from multiple sclerosis products fell 4% to $1.08 billion as some of its therapies face competition from cheaper generics."", ""The company's once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue of $254.3 million in the first quarter, down from $274.5 million from the same period a year ago."", ""Still, that came in higher than analysts' estimate of $227.7 million, according to FactSet."", 'Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $127.5 million in sales.', ""That came in below analysts' estimates of $137.9 million, FactSet estimates said."", ""Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago."", 'Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $341.3 million in sales.', ""That came under analysts' estimate of $415.1 million in revenue, according to FactSet."", ""Biogen said the timing of Spinraza shipments and increased competition affected first-quarter revenue comparisons outside of the U.S.The company's biosimilar drugs booked $196.9 million in sales, up slightly from the $192.4 million reported during the year-earlier period."", 'Analysts had expected sales of $192.5 million from those medicines.', 'Correction: Skyclarys had $78 million in first-quarter revenue.', 'An earlier version misstated the quarter.']",0.1486621680354227,Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July.,"But the agency declined to clear the drug for major depressive disorder, which is a far larger market.",0.3975433243645562,"Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year.","Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago.",2024-04-26
-"PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales",https://www.cnbc.com/2024/04/23/pepsico-pep-q1-2024-earnings.html,2024-04-23T15:48:06+0000,"In this articlePepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks.Shares of the company fell more than 2% in morning trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier.Excluding items, Pepsi earned $1.61 per share.Net sales rose 2.3% to $18.25 billion. The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter.But the company's volume is still under pressure. Pepsi, along with many of its rivals, has seen its volume fall in response to higher prices for its Gatorade, Fritos and other products in its portfolio.The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume. The metric strips out pricing and currency changes to reflect demand.A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem. The company issued the first recall for potential salmonella contamination in December, then widened it in January. The North American Quaker Food division reported that its volume cratered 22% in the quarter. The Quaker Foods recall dented Pepsi's organic volume by roughly 1%.Pepsi will officially close a Quaker Oats plant tied to the recalls in June, although production there has already ceased. Pepsi said the company has resumed limited production of certain products affected by the recalls.Pepsi's other North American divisions also reported weaker volume. Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.Frito-Lay North America's effective net pricing was up 3% in the quarter, while Pepsi's domestic beverages unit's prices rose 6%.In the U.S., lower-income consumers are still trying to stretch their paychecks, Pepsi CEO Ramon Laguarta told analysts on the company's conference call. Pepsi is trying to target the demographic and keep them as customers, particularly for its snacks like Cheetos.Outside of the U.S., demand was stronger. Its Asia-Pacific, Australia, New Zealand and China region reported 12% volume growth for snacks. Chinese consumers are cautious and saving more money, but they're still buying more Pepsi products, according to Laguarta. Even in Europe, which has also struggled with higher grocery prices, beverage volume increased 7% and snack volume rose 2%.Pepsi also reiterated its 2024 outlook. For the full year, the company is expecting organic revenue will rise at least 4% and core constant currency earnings per share will climb at least 8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. ""We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases.""",CNBC,23/04/2024,"[""In this articlePepsiCo on Tuesday reported quarterlyearningsand revenue that beat analysts' expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks."", 'Shares of the company fell more than 2% in morning trading.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier."", 'Excluding items, Pepsi earned $1.61 per share.', 'Net salesrose2.3% to $18.25 billion.', ""The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter."", ""But the company's volume is still under pressure."", 'Pepsi, along with many of its rivals, has seen its volume fall in response to higher prices for its Gatorade, Fritos and other products in its portfolio.', ""The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume."", 'The metric strips out pricing and currency changes to reflect demand.', ""A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem."", 'The company issued the first recall for potential salmonella contamination in December, then widened it in January.', 'The North American Quaker Food division reported that its volume cratered 22% in the quarter.', ""The Quaker Foods recall dented Pepsi's organic volume by roughly 1%.Pepsi will officially close a Quaker Oats plant tied to the recalls in June, although production there has already ceased."", 'Pepsi said the company has resumed limited production of certain products affected by the recalls.', ""Pepsi's other North American divisions also reported weaker volume."", 'Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.', ""Frito-Lay North America's effective net pricing was up 3% in the quarter, while Pepsi's domestic beverages unit's prices rose 6%.In the U.S., lower-income consumers are still trying to stretch their paychecks, Pepsi CEO Ramon Laguarta told analysts on the company's conference call."", 'Pepsi is trying to target the demographic and keep them as customers, particularly for its snacks like Cheetos.', 'Outside of the U.S., demand was stronger.', 'Its Asia-Pacific, Australia, New Zealand and China region reported 12% volume growth for snacks.', ""Chinese consumers are cautious and saving more money, but they're still buying more Pepsi products, according to Laguarta."", 'Even in Europe, which has also struggled with higher grocery prices, beverage volume increased 7% and snack volume rose 2%.Pepsi also reiterated its 2024 outlook.', 'For the full year, the company is expecting organic revenuewill riseat least 4% and core constant currency earnings per sharewill climb at least8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. ""', 'We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases.""']",0.0676508517705506,"For the full year, the company is expecting organic revenuewill riseat least 4% and core constant currency earnings per sharewill climb at least8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. """,A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem.,0.0850448608398437,"The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter.","Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.",2024-04-26
-Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards,"
-  Updated
-        12:10 PM EST, Wed January 10, 2024
-    ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.
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-            When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.
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-            If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.
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-            You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.
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-            Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.
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-            Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.
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-            As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything — 1% when you buy, 1% when you pay. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.
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-            Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees.
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-            By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.
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-            Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary.
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-            Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.
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-            If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.
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-            Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.
-    
-            It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year.
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-            Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.
-    
-            Here’s a look at your Citi ThankYou travel redemption options and how they work.
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-            Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts, international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal.
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-            Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.
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-            If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.
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-            By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.
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-            Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.
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-            Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following:
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-            Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option.
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-            Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.
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-            Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.
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-            For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points:
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-            Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.
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-            Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.
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-            Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.
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-            Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.
-    
-            Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available.
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-            Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
-    
-            Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything —1% when you buy, 1% when you pay.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following:  Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points:  Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.4187524857201869,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.",0.8707016060749689,"As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.",That’s significantly less than the value you’ll get from transfer partner redemptions.,2024-04-26
-Google accused of making it harder to search for rival,https://www.bbc.co.uk/news/articles/ckv7jz9x1l9o,2024-04-25T14:16:44.431Z,"Google has been accused of taking advantage of its market dominance to make it harder to search for a rival email service. Tuta Mail - which says it has more than ten million users worldwide - alleges that, since March, it hasn’t appeared prominently in Google searches for “encrypted email."" The company has made a complaint to the EU claiming that Google - which has its own hugely popular Gmail service - has damaged a rival business. Google has denied the accusation, insisting Tuta remains ""easily accessible"" via its search engine. In its complaint, Tuta notes that its “ranking” – how high up Google’s search results it appears - fell dramatically in March 2024 for searches such as ""secure email."" As a result, monthly visits to pages on its website have dropped by almost 90%, Tuta's formal complaint to the EU alleges. ""At the beginning of March 2024 Google suddenly stopped displaying our website for thousands of keywords,"" it wrote in the complaint.  Following the change, traffic to its website only came from searches mentioning the name of its products. “Google must stop this unfair limitation of showing our website in search results immediately,” Matthias Pfau, co-founder of Tuta Mail said. Google's algorithm uses a number of factors to determine the ranking of search results. When the algorithm is updated, it can have a big impact on businesses that rely on the visits search sends to their websites. There was an update in early March, as a result of which Google warned there would be more fluctuations in rankings than usual. But it denies its updates are intended to favour any particular website, including its own. ""Search ranking updates absolutely do not aim to preference Google products, or any other particular website. The email provider in question is easily accessible globally on Search,"" Google wrote. Gmail has more than a billion users worldwide. Tuta argues that “niche” email services such as its own will not be able to grow into serious competitors if they don’t appear for common search terms. In a blog post the firm accused the company of breaching a new EU law that came into force in March, which designated some large firms, including Google, as “gatekeepers” subject to additional legal restrictions. This includes not treating their own services more favourably than rivals. “Google in its role as a gatekeeper is impacting the profits and marketability of our private email service Tuta Mail - a direct competitor to Google's Gmail, which goes against the Digital Markets Act”, the company wrote. But, according to a Google spokesperson, Tuta ranks above Gmail for a range of email-related searches, including ones that don't mention it as a brand and those it referred to in its blog. ",BBC,25/04/2024,"['Google has been accused of taking advantage of its market dominance to make it harder to search for a rival email service.', 'Tuta Mail - which says it has more than ten million users worldwide - alleges that, since March, it hasn’t appeared prominently in Google searches for “encrypted email.""', 'The company has made a complaint to the EU claiming that Google - which has its own hugely popular Gmail service - has damaged a rival business.', 'Google has denied the accusation, insisting Tuta remains ""easily accessible"" via its search engine.', 'In its complaint, Tuta notes that its “ranking” – how high up Google’s search results it appears - fell dramatically in March 2024 for searches such as ""secure email.""', 'As a result, monthly visits to pages on its website have dropped by almost 90%, Tuta\'s formal complaint to the EU alleges. ""', 'At the beginning of March 2024 Google suddenly stopped displaying our website for thousands of keywords,"" it wrote in the complaint.', 'Following the change, traffic to its website only came from searches mentioning the name of its products. “', 'Google must stop this unfair limitation of showing our website in search results immediately,” Matthias Pfau, co-founder of Tuta Mail said.', ""Google's algorithm uses a number of factors to determine the ranking of search results."", 'When the algorithm is updated, it can have a big impact on businesses that rely on the visits search sends to their websites.', 'There was an update in early March, as a result of which Google warned there would be more fluctuations in rankings than usual.', 'But it denies its updates are intended to favour any particular website, including its own. ""', 'Search ranking updates absolutely do not aim to preference Google products, or any other particular website.', 'The email provider in question is easily accessible globally on Search,"" Google wrote.', 'Gmail has more than a billion users worldwide.', 'Tuta argues that “niche” email services such as its own will not be able to grow into serious competitors if they don’t appear for common search terms.', 'In a blog post the firm accused the company of breaching a new EU law that came into force in March, which designated some large firms, including Google, as “gatekeepers” subject to additional legal restrictions.', 'This includes not treating their own services more favourably than rivals. “', ""Google in its role as a gatekeeper is impacting the profits and marketability of our private email service Tuta Mail - a direct competitor to Google's Gmail, which goes against the Digital Markets Act”, the company wrote."", ""But, according to a Google spokesperson, Tuta ranks above Gmail for a range of email-related searches, including ones that don't mention it as a brand and those it referred to in its blog.""]",-0.092089366197724,"Google in its role as a gatekeeper is impacting the profits and marketability of our private email service Tuta Mail - a direct competitor to Google's Gmail, which goes against the Digital Markets Act”, the company wrote.","Google must stop this unfair limitation of showing our website in search results immediately,” Matthias Pfau, co-founder of Tuta Mail said.",-0.908499789237976,,"As a result, monthly visits to pages on its website have dropped by almost 90%, Tuta's formal complaint to the EU alleges. """,2024-04-26
-General Motors raises 2024 guidance after big first-quarter earnings beat,https://www.cnbc.com/2024/04/23/general-motors-gm-earnings-q1-2024.html,2024-04-23T20:07:30+0000,"In this articleDETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street's top- and bottom-line expectations for the first quarter.The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter. The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.GM shares jumped more than 4% Tuesday following the report. Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:GM said revenue during the first three months of this year was up 7.6% from roughly $40 billion a year earlier. Its net income during the first quarter rose about 26% to $2.95 billion.The automaker's net income attributable to stockholders, which excludes some dividend payouts, was up 24.4% to $2.98 billion, or $2.56 per share, from the first quarter of 2023 when the company reported net income attributable to stockholders of about $2.4 billion, or $1.69 a share. The automaker's adjusted earnings before interest and taxes were $3.87 billion, or $2.62 per share, during the first quarter. GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said.  The division increased adjusted earnings during the quarter to $3.84 billion, up 7.4% from a year earlier.Steady vehicle pricing and increased retail sales in North America also helped GM achieve a 10.6% adjusted profit margin in the region for the period – above its previously announced 8% to 10% range for the year.GM CFO Paul Jacobson said prices for the automaker's vehicles were roughly flat to slightly lower due to vehicle mix during the quarter, but not down as much as the 2% to 2.5% decline the company anticipated for the year.""Our consumer has been remarkably resilient in this period of higher interest rates,"" Jacobson told reporters during a briefing. ""We think in this environment that we can continue to perform.""GM's financing arm reported adjusted earnings of $737 million during the first quarter, down 4.4% from a year earlier.The company's North America results helped to offset losses of $106 million in China and $10 million in other international markets during the first three months of the year.When asked Tuesday about potentially exiting the Chinese market, GM CEO Mary Barra said during the company's earnings call the automaker ""remains committed"" to the region.The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand.Jacobson, however, noted GM's loss in China was ""slightly better"" than the company had previously forecast.GM specifically noted that sales of its highly profitable pickups remain strong, while production of its all-electric vehicles continues to ramp up following bottlenecks in production, particularly with battery modules.""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.Jacobson said the company still plans to produce between 200,000 and 300,000 EVs during 2024.While North America continues to be strong for the automaker, vehicle inventory levels in the U.S. are rising. The company ended the first quarter with a 63 days' supply of vehicles – above the automaker's previous guidance of 50 days to 60 days.Jacobson said the company is watching those levels but is not too concerned about the number of vehicles ahead of a spring and summer selling season that includes some factory shutdowns for retooling.""We actually feel pretty good about where we are,"" he said. ""It's something that obviously we're watching. But right now, no signs of any softness that we can see.""Regarding GM's embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.Barra said the automaker is evaluating how to the fund Cruise, of which GM owns more than 80%, moving forward, including potentially accepting additional outside investments.Correction: This story has to been updated to correct that General Motors plans to produce between 200,000 and 300,000 EVs during 2024.",CNBC,23/04/2024,"[""In this articleDETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street's top- and bottom-line expectations for the first quarter."", 'The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter.', 'The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.', 'GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.', 'GM shares jumped more than 4% Tuesday following the report.', ""Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:GM said revenue during the first three months of this year was up 7.6% from roughly $40 billion a year earlier."", 'Its net income during the first quarter rose about 26% to $2.95 billion.', ""The automaker's net income attributable to stockholders, which excludes some dividend payouts, was up 24.4% to $2.98 billion, or $2.56 per share, from the first quarter of 2023 when the company reported net income attributable to stockholders of about $2.4 billion, or $1.69 a share."", ""The automaker's adjusted earnings before interest and taxes were $3.87 billion, or $2.62 per share, during the first quarter."", ""GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said."", 'The division increased adjusted earnings during the quarter to $3.84 billion, up 7.4% from a year earlier.', 'Steady vehicle pricing and increased retail sales in North America also helped GM achieve a 10.6% adjusted profit margin in the region for the period – above its previously announced 8% to 10% range for the year.', ""GM CFO Paul Jacobson said prices for the automaker's vehicles were roughly flat to slightly lower due to vehicle mix during the quarter, but not down as much as the 2% to 2.5% decline the company anticipated for the year."", '""Our consumer has been remarkably resilient in this period of higher interest rates,"" Jacobson told reporters during a briefing. ""', 'We think in this environment that we can continue to perform.', '""GM\'s financing arm reported adjusted earnings of $737 million during the first quarter, down 4.4% from a year earlier.', ""The company's North America results helped to offset losses of $106 million in China and $10 million in other international markets during the first three months of the year."", 'When asked Tuesday about potentially exiting the Chinese market, GM CEO Mary Barra said during the company\'s earnings call the automaker ""remains committed"" to the region.', ""The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand."", 'Jacobson, however, noted GM\'s loss in China was ""slightly better"" than the company had previously forecast.', 'GM specifically noted that sales of its highly profitable pickups remain strong, while production of its all-electric vehicles continues to ramp up following bottlenecks in production, particularly with battery modules.', '""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.', 'Jacobson said the company still plans to produce between 200,000 and 300,000 EVs during 2024.While North America continues to be strong for the automaker, vehicle inventory levels in the U.S. are rising.', ""The company ended the first quarter with a 63 days' supply of vehicles – above the automaker's previous guidance of 50 days to 60 days."", 'Jacobson said the company is watching those levels but is not too concerned about the number of vehicles ahead of a spring and summer selling season that includes some factory shutdowns for retooling.', '""We actually feel pretty good about where we are,"" he said. ""', ""It's something that obviously we're watching."", 'But right now, no signs of any softness that we can see.', '""Regarding GM\'s embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.', 'Barra said the automaker is evaluating how to the fund Cruise, of which GM owns more than 80%, moving forward, including potentially accepting additional outside investments.', 'Correction: This story has to been updated to correct that General Motors plans to produce between 200,000 and 300,000 EVs during 2024.']",0.204808735023361,"""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.","""Regarding GM's embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.",0.8176416863094677,Its net income during the first quarter rose about 26% to $2.95 billion.,"The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand.",2024-04-26
-"Bilt’s May Rent Day promotion: Redeem points toward rent, get free home decor",https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion,"
-  Updated
-        4:22 PM EDT, Thu April 25, 2024
-    ","The Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception in 2021. With a top-notch travel rewards program and the opportunity to earn points on rent with no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.
-    
-            In addition, Bilt Rewards — the loyalty program behind the Bilt Mastercard — offers lucrative promotions throughout the year, with the most popular known as Rent Day.
-    
-            With Bilt’s Rent Day promotion — which runs the first of every month — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month. Bilt typically announces these promotions just a few days before Rent Day.
-    
-            Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.
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-            Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.
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-            Additionally, Bilt recently announced a new partnership with Blade, a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.
-    
-            Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.
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-            Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection. You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.
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-            However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment. For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.
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-            Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison. However, it might be worth considering this month if you’re looking for new home decor anyway.
-    
-            The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.
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-            This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country. This includes unique tasting menus, wine pairings and omakase experiences.
-    
-            These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest. Availability will be limited, but you can try to grab a seat on April 26.
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-            Those with Bilt elite status will receive priority access to reservations. Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST. All other Bilt Rewards members can book at 12:30 p.m. EST.
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-            Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.
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-            Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).
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-            So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until May 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.
-    
-            But remember, to earn Bilt points with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).
-    
-            Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking. Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.
-    
-            Again, you’ll get more Blade benefits if you have Bilt elite status.
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-            These are nice benefits to have if you live in New York. Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.
-    
-            If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home. If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.
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-            Learn more and apply now for the Bilt Mastercard.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,25/04/2024,"['The Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception in 2021.', 'With a top-notch travel rewards program and the opportunity to earn points on rent with no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'In addition, Bilt Rewards —the loyalty program behind the Bilt Mastercard — offers lucrative promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — card members earn double points on all purchases (excluding rent) and can take advantage of a unique promotion that changes every month.', 'Bilt typically announces these promotions just a few days before Rent Day.', 'Bilt Rewards just announced the May edition of its monthly Rent Day promotion, and for better or for worse, it’s different from offers we’ve seen in the past.', 'Instead of a travel-related offer (which has been the norm), Bilt is incentivizing members to redeem points toward their monthly rent payment in exchange for a credit toward home decor products in the Bilt Home Collection.', 'Additionally, Bilt recently announced a new partnership with Blade,a swanky helicopter transfer service that runs scheduled flights between New York City airports and Manhattan’s heliports.', 'Let’s take a closer look at this upcoming Rent Day promotion and Bilt’s partnership with Blade.', 'Between April 25 and May 1, Bilt members who redeem points toward their rent payment will get 100% of those points back to redeem toward items in the Bilt Home Collection.', 'You can use a minimum of 1,000 points and a maximum of 50,000 points for this offer, and the Home Collection credit is good for six months.', 'However, your points are only worth 0.55 cents apiece when you redeem them toward your rent payment.', 'For example, if you redeem 10,000 points toward rent, you’ll get a $55 discount.', 'Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.', 'However, it might be worth considering this month if you’re looking for new home decor anyway.', 'The Bilt Home Collection usually has things like artwork from partner artists, interesting vases and different types of cups.', 'This month, Bilt will also offer curated Rent Day dining experiences at restaurants around the country.', 'This includes unique tasting menus, wine pairings and omakase experiences.', 'These dining experiences will cost $150, or you can redeem 15,000 Bilt points for you and a guest.', 'Availability will be limited, but you can try to grab a seat on April 26.', 'Those with Bilt elite status will receive priority access to reservations.', 'Platinum status members will have first access at 12 p.m. EST, Gold status members at 12:10 p.m. EST and Silver status members at 12:20 p.m. EST.', 'All other Bilt Rewards members can book at 12:30 p.m. EST.', 'Dining experiences will be available at select restaurants in New York, Miami, Seattle, Los Angeles, Atlanta, Dallas, Boston and Washington, D.C.  Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until May 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points with your Bilt Mastercard, you must use the card five times each statement period (see Rewards & Benefits).', 'Earlier this month, Bilt announced a new partnership with Blade, where Bilt Reward members will earn bonus points on every Blade booking.', 'Members will earn 2 bonus points for every dollar spent on Blade flights as long as they pay with a credit or debit card linked to their Bilt Rewards account.', 'Again, you’ll get more Blade benefits if you have Bilt elite status.', 'These are nice benefits to have if you live in New York.', 'Blade has lounges at its heliports on West 30th Street and East 34th Street, both of which are outfitted with a complimentary bar, coffee and free snacks.', 'If getting a discount on rent is your preferred way to redeem Bilt Rewards points, this month’s Rent Day promotion is a great way to earn bonus points to put toward furnishing your home.', 'If you’d rather redeem toward travel, focus on earning double points on all purchases on May 1.', 'Learn more and apply now for the Bilt Mastercard.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.3487739443917381,"Travel website The Points Guy values Bilt Rewards points at 2.05 cents apiece when redeemed toward travel, so this isn’t a great redemption in comparison.",,0.978265517950058,"And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.",,2024-04-26
-Right-wing media ruptures over Marjorie Taylor Greene’s threat to oust Mike Johnson,https://edition.cnn.com/2024/04/26/media/right-wing-media-marjorie-taylor-greenes-mike-johnson/index.html,"
-  Published
-        7:36 AM EDT, Fri April 26, 2024
-    ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here.
-    
-            Marjorie Taylor Greene has exposed the fault lines in right-wing media.
-    
-            As the extremist Republican congresswoman threatens to oust House Speaker Mike Johnson’s over his support for Ukraine aid, a rift has ruptured wide open in the MAGA Media landscape, separating the hardline and absolutist faction from the establishment wing.
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-            On one side are outlets controlled by media mogul Rupert Murdoch. His powerful media properties — Fox News, The Wall Street Journal, and the New York Post – have spent the last two weeks leveling blistering criticism against Greene and those who support challenging Johnson’s authority over the House leader’s move to pass funding for Kyiv.
-    
-            As the extremist Republican congresswoman threatens to oust House Speaker Mike Johnson’s over his support for Ukraine aid, a rift has ruptured wide open in the MAGA Media landscape, separating the hardline and absolutist faction from the establishment wing.
-    
-            While The Journal has showered Johnson in glowing praise, Fox News and the Post have gone different routes. Fox News published a scathing editorial on its website last week, referring to Greene as an “idiot” and contending “she is trying to wreck the GOP.” The Post went further, putting Greene on its cover over the weekend and blasting her as “MOSCOW MARJORIE.”
-    
-            All the while, the insurgent bloc of the right-wing media universe have taken the opposite approach. They’ve subjected Johnson to an onslaught of ugly attacks and portrayed Greene as one of the only members of the Republican Party who dares to stand on principle.
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-            Steve Bannon, host of the influential “War Room” podcast and Donald Trump’s former chief political strategist, has leveled some of the harshest attacks against the embattled House speaker. Earlier this week, he referred to the Ukraine aid package as “a desecration” and urged listeners to call their representatives to voice support for firing Johnson.
-    
-            Bannon is far from alone. Charlie Kirk, the MAGA personality and radio host who has a close relationship with the Trump family, accused Johnson of having “lied in the name of God” and wondered, “Where’s the evidence that this guy’s actually a Christian?” Meanwhile, Tucker Carlson questioned if Johnson is “being blackmailed to do the bidding of the left.” Over at Breitbart, the outlet published a hit piece on a member of Johnson’s staff, characterizing her as a RINO turncoat. And The Gateway Pundit has slung untold amounts of mud at Johnson, with one headline this week exclaiming, “WHAT A SNAKE.”
-    
-            Greene, a savvy information warrior, has leveraged the platforms wielded by media allies to make her case against Johnson to the conservative base — a strategy that has further fueled their attacks and underscored the division in right-wing media. Over the last few weeks, she has made appearances on the programs hosted by Bannon, Kirk, and Carlson. And she has granted interviews to other supportive outlets, including the far-right One America News.
-    
-            Yet, it’s unlikely she will emerge from this battle victorious — a reality that has underscored the importance of Murdoch’s right-wing media empire. While its influence has unquestionably waned in recent years, the power of Murdoch’s outlets — Fox News in particular — is still great. If not for Murdoch’s blessing, Johnson would find himself in much hotter water and in far greater jeopardy of losing his position as speaker.
-    
-            That said, the coverage of Johnson from the hardliners in MAGA Media has certainly hurt his reputation amongst much of the base, with many now surely under the belief he is a squishy D.C. swamp creature. He may exit alive, but he has been badly wounded by the fight.
-    
-            And his opponents are not only left unvanquished, but continue to see their powers balloon each and every day — all while the legacy media model that crowned Murdoch GOP kingmaker continues to erode. Greene might not prevail in her battle against Johnson this time around, but it has served as a harbinger of things to come amid a larger war for the soul of the Republican Party. While the winds might not entirely favor Greene and the MAGA Media hardliners in this very moment, they do appear to be shifting.
-    
-            The Murdoch-influenced GOP empowered Trump. That could very well pale in comparison to what the rising, more extremist wing of right-wing media delivers in the years ahead.",CNN,26/04/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'Marjorie Taylor Greene has exposed the fault lines in right-wing media.', 'As the extremist Republican congresswoman threatens to oust House Speaker Mike Johnson’sover his support for Ukraine aid, a rift has ruptured wide open in the MAGA Media landscape, separating the hardline and absolutist faction from the establishment wing.', 'On one side are outlets controlled by media mogul Rupert Murdoch.', 'His powerful media properties — Fox News, The Wall Street Journal, and the New York Post – have spent the last two weeks leveling blistering criticism against Greene and those who support challenging Johnson’s authority over the House leader’s move to pass funding for Kyiv.', 'As the extremist Republican congresswoman threatens to oust House Speaker Mike Johnson’s over his support for Ukraine aid, a rift has ruptured wide open in the MAGA Media landscape, separating the hardline and absolutist faction from the establishment wing.', 'While The Journal has showered Johnson in glowing praise, Fox News and the Post have gone different routes.', 'Fox News published a scathing editorial on its website last week, referring to Greene as an “idiot” and contending “she is trying to wreck the GOP.”', 'The Post went further, putting Greene on its cover over the weekend and blasting her as “MOSCOW MARJORIE.”', 'All the while, the insurgent bloc of the right-wing media universe have taken the opposite approach.', 'They’ve subjected Johnson to an onslaught of ugly attacks and portrayed Greene as one of the only members of the Republican Party who dares to stand on principle.', 'Steve Bannon, host of the influential “War Room” podcast and Donald Trump’s former chief political strategist, has leveled some of the harshest attacks against the embattled House speaker.', 'Earlier this week, he referred to the Ukraine aid package as “a desecration” and urged listeners to call their representatives to voice support for firing Johnson.', 'Bannon is far from alone.', 'Charlie Kirk, the MAGA personality and radio host who has a close relationship with the Trump family, accused Johnson of having “lied in the name of God” and wondered, “Where’s the evidence that this guy’s actually a Christian?”', 'Meanwhile, Tucker Carlson questioned if Johnson is “being blackmailed to do the bidding of the left.”', 'Over at Breitbart, the outlet published a hit piece on a member of Johnson’s staff, characterizing her as a RINO turncoat.', 'And The Gateway Pundit has slung untold amounts of mud at Johnson, with one headline this week exclaiming, “WHAT A SNAKE.”', 'Greene, a savvy information warrior, has leveraged the platforms wielded by media allies to make her case against Johnson to the conservative base — a strategy that has further fueled their attacks and underscored the division in right-wing media.', 'Over the last few weeks, she has made appearances on the programs hosted by Bannon, Kirk, and Carlson.', 'And she has granted interviews to other supportive outlets, including the far-right One America News.', 'Yet, it’s unlikely she will emerge from this battle victorious — a reality that has underscored the importance of Murdoch’s right-wing media empire.', 'While its influence has unquestionably waned in recent years, the power of Murdoch’s outlets — Fox News in particular — is still great.', 'If not for Murdoch’s blessing, Johnson would find himself in much hotter water and in far greater jeopardy of losing his position as speaker.', 'That said, the coverage of Johnson from the hardliners in MAGA Media has certainly hurt his reputation amongst much of the base, with many now surely under the belief he is a squishy D.C. swamp creature.', 'He may exit alive, but he has been badly wounded by the fight.', 'And his opponents are not only left unvanquished, but continue to see their powers balloon each and every day — all while the legacy media model that crowned Murdoch GOP kingmaker continues to erode.', 'Greene might not prevail in her battle against Johnson this time around, but it has served as a harbinger of things to come amid a larger war for the soul of the Republican Party.', 'While the winds might not entirely favor Greene and the MAGA Media hardliners in this very moment, they do appear to be shifting.', 'The Murdoch-influenced GOP empowered Trump.', 'That could very well pale in comparison to what the rising, more extremist wing of right-wing media delivers in the years ahead.']",-0.0801548351063512,"While its influence has unquestionably waned in recent years, the power of Murdoch’s outlets — Fox News in particular — is still great.","Steve Bannon, host of the influential “War Room” podcast and Donald Trump’s former chief political strategist, has leveled some of the harshest attacks against the embattled House speaker.",-0.2636017501354217,"While its influence has unquestionably waned in recent years, the power of Murdoch’s outlets — Fox News in particular — is still great.","That said, the coverage of Johnson from the hardliners in MAGA Media has certainly hurt his reputation amongst much of the base, with many now surely under the belief he is a squishy D.C. swamp creature.",2024-04-26
-The ex-flight attendant who became the first female boss of Japan Airlines,https://www.bbc.co.uk/news/business-68823400,2024-04-25T23:25:29.000Z,"When Mitsuko Tottori was named as the new boss of Japan Airlines (JAL) in January, it sent a shockwave across the country's corporate sector. Not only was Ms Tottori the carrier's first female boss, she had also started her career as a member of cabin crew. The headlines ranged from ""first woman"" and ""first former flight attendant"" to ""unusual"" and ""no way!"" One website even described her as ""an alien molecule"" or ""a mutant"", a reference to her having worked at Japan Air System (JAS), a much smaller airline that JAL bought two decades ago. ""I didn't know about an alien mutant,"" Ms Tottori  laughs as she spoke to me from Tokyo. In short, she was not from the elite group of businessmen that the carrier had customarily appointed to its top job. Out of the last 10 men who held the post, seven were educated at the country's top university. Ms Tottori is a graduate of a far less prestigious women-only junior college. With Ms Tottori's appointment, JAL has joined the less than 1% of Japan's top companies led by women. ""I don't think of myself as the first woman or the first former flight attendant. I want to act as an individual so I didn't expect to get this much attention."" ""But I realise the public or our employees don't necessarily see me like that,"" she adds. Her appointment also came just two weeks after JAL's flight attendants were lauded for the successful evacuation of passengers from a plane that collided with a coast guard aircraft during landing. Japan Airlines Flight 516 burst into flames after the collision on the runway at Tokyo's Haneda airport. Five of the six crew on the coastguard plane died and captain was injured. However, within minutes of the collision, all 379 people on board the Airbus A350-900 had safely escaped. The rigorous training of the carrier's flight attendants was suddenly in the spotlight. As a former flight attendant herself, Ms Tottori learned the importance of aviation safety first hand. Four months after she became a flight attendant in 1985, Japan Airlines was involved in the deadliest single aircraft accident in aviation history, which killed 520 people on Mount Osutaka. ""Every member of staff at JAL is given an opportunity to climb Mount Osutaka and speak to those who remember the accident,"" Ms Tottori says.  ""We also exhibit aircraft debris at our safety promotion centre so instead of just reading about it in a book, we look with our own eyes and feel with our own skin to learn about the accident."" While her appointment in the top job came as a surprise, JAL has changed rapidly since it went bankrupt in 2010, in what was the country's biggest ever corporate failure outside the financial sector. The airline managed to continue flying thanks to major state-backed financial support and the business underwent a sweeping restructuring with a new board and management. Its saviour was then-77-year-old retiree and ordained Buddhist monk, Kazuo Inamori. Without his transformational influence it is unlikely that someone like Ms Tottori could have become JAL's leader. I spoke to him in an interview in 2012. He did not mince his words, saying JAL was an arrogant firm that did not care about its customers. Under Mr Inamori's leadership the company promoted people from frontline operations, like pilots and engineers, rather than from bureaucratic posts. ""I felt very uncomfortable because the company didn't feel like a private firm at all,"" Mr Inamori, who died in 2022, told me. ""Many former government officials used to get golden parachutes into the firm."" JAL has come a long way since then, and the attention its first female president is receiving is not surprising. The Japanese government has been trying for almost a decade to increase the number of female bosses in the country. It now wants a third of leadership positions at major businesses to go to women by 2030, after failing to achieve the goal by 2020. ""It is not just about the corporate leaders' mindset, but it is also important for women to have the confidence to become a manager,"" says Ms Tottori. ""I hope my appointment would encourage other women to try things that they were afraid of trying before."" ",BBC,25/04/2024,"[""When Mitsuko Tottori was named as the new boss of Japan Airlines (JAL) in January, it sent a shockwave across the country's corporate sector."", ""Not only was Ms Tottori the carrier's first female boss, she had also started her career as a member of cabin crew."", 'The headlines ranged from ""first woman"" and ""first former flight attendant"" to ""unusual"" and ""no way!""', 'One website even described her as ""an alien molecule"" or ""a mutant"", a reference to her having worked at Japan Air System (JAS), a much smaller airline that JAL bought two decades ago. ""', 'I didn\'t know about an alien mutant,"" Ms Tottori laughs as she spoke to me from Tokyo.', 'In short, she was not from the elite group of businessmen that the carrier had customarily appointed to its top job.', ""Out of the last 10 men who held the post, seven were educated at the country's top university."", 'Ms Tottori is a graduate of a far less prestigious women-only junior college.', 'With Ms Tottori\'s appointment, JAL has joined the less than 1% of Japan\'s top companies led by women. ""', ""I don't think of myself as the first woman or the first former flight attendant."", 'I want to act as an individual so I didn\'t expect to get this much attention."" ""', 'But I realise the public or our employees don\'t necessarily see me like that,"" she adds.', ""Her appointment also came just two weeks after JAL's flight attendants were lauded for the successful evacuation of passengers from a plane that collided with a coast guard aircraft during landing."", ""Japan Airlines Flight 516 burst into flames after the collision on the runway at Tokyo's Haneda airport."", 'Five of the six crew on the coastguard plane died and captain was injured.', 'However, within minutes of the collision, all 379 people on board the Airbus A350-900 had safely escaped.', ""The rigorous training of the carrier's flight attendants was suddenly in the spotlight."", 'As a former flight attendant herself, Ms Tottori learned the importance of aviation safety first hand.', 'Four months after she became a flight attendant in 1985, Japan Airlines was involved in the deadliest single aircraft accident in aviation history, which killed 520 people on Mount Osutaka. ""', 'Every member of staff at JAL is given an opportunity to climb Mount Osutaka and speak to those who remember the accident,"" Ms Tottori says. ""', 'We also exhibit aircraft debris at our safety promotion centre so instead of just reading about it in a book, we look with our own eyes and feel with our own skin to learn about the accident.""', ""While her appointment in the top job came as a surprise, JAL has changed rapidly since it went bankrupt in 2010, in what was the country's biggest ever corporate failure outside the financial sector."", 'The airline managed to continue flying thanks to major state-backed financial support and the business underwent a sweeping restructuring with a new board and management.', 'Its saviour was then-77-year-old retiree and ordained Buddhist monk, Kazuo Inamori.', ""Without his transformational influence it is unlikely that someone like Ms Tottori could have become JAL's leader."", 'I spoke to him in an interview in 2012.', 'He did not mince his words, saying JAL was an arrogant firm that did not care about its customers.', 'Under Mr Inamori\'s leadership the company promoted people from frontline operations, like pilots and engineers, rather than from bureaucratic posts. ""', 'I felt very uncomfortable because the company didn\'t feel like a private firm at all,"" Mr Inamori, who died in 2022, told me. ""', 'Many former government officials used to get golden parachutes into the firm.""', 'JAL has come a long way since then, and the attention its first female president is receiving is not surprising.', 'The Japanese government has been trying for almost a decade to increase the number of female bosses in the country.', 'It now wants a third of leadership positions at major businesses to go to women by 2030, after failing to achieve the goal by 2020. ""', 'It is not just about the corporate leaders\' mindset, but it is also important for women to have the confidence to become a manager,"" says Ms Tottori. ""', 'I hope my appointment would encourage other women to try things that they were afraid of trying before.""']",0.0432886213684849,"As a former flight attendant herself, Ms Tottori learned the importance of aviation safety first hand.","Four months after she became a flight attendant in 1985, Japan Airlines was involved in the deadliest single aircraft accident in aviation history, which killed 520 people on Mount Osutaka. """,0.5970875263214112,Her appointment also came just two weeks after JAL's flight attendants were lauded for the successful evacuation of passengers from a plane that collided with a coast guard aircraft during landing.,"When Mitsuko Tottori was named as the new boss of Japan Airlines (JAL) in January, it sent a shockwave across the country's corporate sector.",2024-04-26
-The new class war: A wealth gap between millennials,https://www.cnbc.com/2024/04/26/wealth-gap-between-millennials-new-class-war.html,2024-04-26T18:43:27+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a recent study.Even as the vast majority of millennials struggle with student debt, low-wage service-jobs, unaffordable housing and low savings, the millennial elite are surpassing previous generations. According to the study, the average millennial has 30% less wealth at the age of 35 than baby boomers did at the same age. Yet the top 10% of millennials have 20% more wealth than the top baby boomers at the same age.""Millennials are so different from one another that it is not particularly meaningful to talk about the 'average' Millennial experience,"" wrote the study's authors, Rob Gruijters, Zachary Van Winkle and Anette Eva Fasang. ""There are some Millennials who are doing extremely well—think Mark Zuckerberg and Sam Altman—while others are struggling.""The study finds that millennials — typically defined as those between the age of 28 and 43 today — have faced repeated financial headwinds. Coming of age during the financial crisis, they have lower levels of homeownership, larger debts outweighing assets, low-wage and unstable jobs, and lower rates of dual-income family formation.At the same time, the authors say the top 10% of millennials have benefited from greater rewards for skilled jobs. As they put it, ""The returns to high-status work trajectories have increased, while the returns to low-status trajectories have stagnated or declined.""The millennials who ""went to college, found graduate level jobs, and started families relatively late,"" ended up with ""higher levels of wealth than Baby Boomers with similar life trajectories,"" according to the report.There may be another factor creating so much wealth among millennials: inheritances. In what's known as ""the great wealth transfer,"" baby boomers are expected to pass down between $70 trillion and $90 trillion in wealth over the next 20 years. Much of that is expected to go to their millennial children. High-net-worth individuals worth $5 million or more will account for nearly half of that total, according to Cerulli Associates.Wealth management firms say some of that wealth has already starting trickling down to the next generation.""The great wealth transfer, which we've all been talking about for the last 10 years, is underway,"" said John Mathews, head of UBS' Private Wealth Management division. ""The average age of the world's billionaires is almost 69 right now. So this whole transition or wealth handover will start to accelerate.""Tensions between millennial classes are likely to escalate as more wealth is transferred in the coming years. Wealth displays on social media by millennial ""nepo babies"" could add to the intra-generational class war and drive nonwealthy millennials to overspend or create the appearance of lavish lifestyles to keep up.A survey by Wells Fargo found that 29% of affluent millennials (defined as having assets of $250,000 to over $1 million of investible assets) admit they ""sometimes buy items they cannot afford to impress others."" According to the survey, 41% of affluent millennials admit to funding their lifestyles with credit cards or loans, versus 28% of Gen Xers and 6% of baby boomers.The battle between rich millennials and the rest could also shape their attitudes toward wealth. For over four decades, the vast majority of millionaires and billionaires created in America have been self-made, mostly entrepreneurs. A study by Fidelity Investments found that 88% of American millionaires are self-made.Yet inherited wealth could become more common. A study by UBS found that among newly minted billionaires last year, heirs who inherited their fortunes racked up more wealth than self-made billionaires for the first time in at least nine years. And, all the billionaires under the age of 30 on the latest Forbes billionaires list inherited their wealth, for the first time in 15 years.The surge in wealth among millennial heirs is also creating a lucrative new market for wealth-management firms, luxury companies, travel firms and real estate brokers.Clayton Orrigo, one of the top luxury real estate brokers in Manhattan, has built a thriving business on moneyed millennials. The founder of the Hudson Advisory Team at Compass has sold over $4 billion in real estate and regularly brokers deals over $10 million. He says the ""vast majority"" of his business lately is from buyers in their 20s and 30s with inherited wealth.""I just sold a $16 million apartment to someone in their mid-20s, and the buyer accessed the family trust,"" he said. ""The wealth that is behind these kids is extreme.""Inherited wealth has become Orrigo's specialty. He says he works on forging close relationships with family offices, trusts and young money elite mingling at New York membership clubs like Casa Cipriani.The pattern is familiar: A wealthy family calls wanting a rental for their son or daughter; a few years later, they want a $5 million or $10 million two-bedroom condo to buy in a new, high-security building downtown.""My gig is working very quietly and very discreetly with the wealthiest families in the world,"" Orrigo said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,26/04/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'The wealth gap between rich millennials and the rest of their age group is the largest of any generation, creating a new wave of class tension and resentment, according to a recent study.', 'Even as the vast majority of millennials struggle with student debt, low-wage service-jobs, unaffordable housing and low savings, the millennial elite are surpassing previous generations.', 'According to the study, the average millennial has 30% less wealth at the age of 35 than baby boomers did at the same age.', 'Yet the top 10% of millennials have 20% more wealth than the top baby boomers at the same age.', '""Millennials are so different from one another that it is not particularly meaningful to talk about the \'average\' Millennial experience,"" wrote the study\'s authors, Rob Gruijters, Zachary Van Winkle and Anette Eva Fasang. ""', 'There are some Millennials who are doing extremely well—think Mark Zuckerberg and Sam Altman—while others are struggling.', '""The study finds that millennials — typically defined as those between the age of 28 and 43 today — have faced repeated financial headwinds.', 'Coming of age during the financial crisis, they have lower levels of homeownership, larger debts outweighing assets, low-wage and unstable jobs, and lower rates of dual-income family formation.', 'At the same time, the authors say the top 10% of millennials have benefited from greater rewards for skilled jobs.', 'As they put it, ""The returns to high-status work trajectories have increased, while the returns to low-status trajectories have stagnated or declined.', '""The millennials who ""went to college, found graduate level jobs, and started families relatively late,"" ended up with ""higher levels of wealth than Baby Boomers with similar life trajectories,"" according to the report.', 'There may be another factor creating so much wealth among millennials: inheritances.', 'In what\'s known as ""the great wealth transfer,"" baby boomers are expected to pass down between $70 trillion and $90 trillion in wealth over the next 20 years.', 'Much of that is expected to go to their millennial children.', 'High-net-worth individuals worth $5 million or more will account for nearly half of that total, according to Cerulli Associates.', 'Wealth management firms say some of that wealth has already starting trickling down to the next generation.', '""The great wealth transfer, which we\'ve all been talking about for the last 10 years, is underway,"" said John Mathews, head of UBS\'Private Wealth Management division. ""', ""The average age of the world's billionaires is almost 69 right now."", 'So this whole transition or wealth handover will start to accelerate.', '""Tensions between millennial classes are likely to escalate as more wealth is transferred in the coming years.', 'Wealth displays on social media by millennial ""nepo babies"" could add to the intra-generational class war and drive nonwealthy millennials to overspend or create the appearance of lavish lifestyles to keep up.', 'A survey by Wells Fargo found that 29% of affluent millennials (defined as having assets of $250,000 to over $1 million of investible assets) admit they ""sometimes buy items they cannot afford to impress others.""', 'According to the survey, 41% of affluent millennials admit to funding their lifestyles with credit cards or loans, versus 28% of Gen Xers and 6% of baby boomers.', 'The battle between rich millennials and the rest could also shape their attitudes toward wealth.', 'For over four decades, the vast majority of millionaires and billionaires created in America have been self-made, mostly entrepreneurs.', 'A study by Fidelity Investments found that 88% of American millionaires are self-made.', 'Yet inherited wealth could become more common.', 'A study by UBS found that among newly minted billionaires last year, heirs who inherited their fortunes racked up more wealth than self-made billionaires for the first time in at least nine years.', 'And, all the billionaires under the age of 30 on the latest Forbes billionaires list inherited their wealth, for the first time in 15 years.', 'The surge in wealth among millennial heirs is also creating a lucrative new market for wealth-management firms, luxury companies, travel firms and real estate brokers.', 'Clayton Orrigo, one of the top luxury real estate brokers in Manhattan, has built a thriving business on moneyed millennials.', 'The founder of the Hudson Advisory Team at Compass has sold over $4 billion in real estate and regularly brokers deals over $10 million.', 'He says the ""vast majority"" of his business lately is from buyers in their 20s and 30s with inherited wealth.', '""I just sold a $16 million apartment to someone in their mid-20s, and the buyer accessed the family trust,"" he said. ""', 'The wealth that is behind these kids is extreme.', '""Inherited wealth has become Orrigo\'s specialty.', 'He says he works on forging close relationships with family offices, trusts and young money elite mingling at New York membership clubs like Casa Cipriani.', 'The pattern is familiar: A wealthy family calls wanting a rental for their son or daughter; a few years later, they want a $5 million or $10 million two-bedroom condo to buy in a new, high-security building downtown.', '""My gig is working very quietly and very discreetly with the wealthiest families in the world,"" Orrigo said.', ""Sign up to receive future editions of CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.3328991275805766,"In what's known as ""the great wealth transfer,"" baby boomers are expected to pass down between $70 trillion and $90 trillion in wealth over the next 20 years.","Coming of age during the financial crisis, they have lower levels of homeownership, larger debts outweighing assets, low-wage and unstable jobs, and lower rates of dual-income family formation.",0.0389725693634578,"At the same time, the authors say the top 10% of millennials have benefited from greater rewards for skilled jobs.","""The study finds that millennials — typically defined as those between the age of 28 and 43 today — have faced repeated financial headwinds.",2024-04-26
-"American Airlines cuts some international flights into 2025, citing Boeing delivery delays",https://www.cnbc.com/2024/04/26/american-airlines-cuts-some-international-flights-citing-boeing-delays.html,2024-04-26T19:57:37+0000,"In this articleAmerican Airlines on Friday said Boeing's 787 Dreamliner delivery delays are forcing it to cut some long-haul flights in the second half of the year and into early 2025, the latest carrier to change its schedule tied to the plane-maker's production problems.American expects to receive three Dreamliners this year, down from six, it said in a filing Thursday. Boeing said earlier this week that parts shortages will prevent it from ramping up production of the wide-body planes.""We're making these adjustments now to ensure we're able to re-accommodate customers on affected flights,"" American said in a statement. ""We'll be proactively reaching out to impacted customers to offer alternate travel arrangements. We remain committed to our customers and team members and mitigating the impact of these delays while continuing to offer a comprehensive global network.""American will suspend some routes to Europe at the end of the summer. Here's what's changing:American will also offer just a single daily flight between New York and Rome, instead of twice daily, starting Aug. 5, and service between Dallas/Fort Worth International Airport and Kona, Hawaii, won't operate this winter.American said it will continue to offer 55 long-haul international routes this winter and that it will add nonstop service between Philadelphia and Barcelona on a daily basis starting in January, as well as seasonal service between Miami and Montevideo, Uruguay. It will also add three-times-a-day flights between Miami and Sao Paulo.The airline is further evaluating its schedule because of Boeing's 737 Max delays, it said.Boeing didn't immediately respond to a request for comment.Correction: American Airlines will add three-times-a-day flights between Miami and Sao Paulo. A previous version of this story mischaracterized the schedule.",CNBC,26/04/2024,"[""In this articleAmerican Airlines on Friday said Boeing's 787 Dreamliner delivery delays are forcing it to cut some long-haul flights in the second half of the year and into early 2025, the latest carrier to change its schedule tied to the plane-maker's production problems."", 'American expects to receive three Dreamliners this year, down from six, it said in a filing Thursday.', 'Boeing said earlier this week that parts shortages will prevent it from ramping up production of the wide-body planes.', '""We\'re making these adjustments now to ensure we\'re able to re-accommodate customers on affected flights,"" American said in a statement. ""', ""We'll be proactively reaching out to impacted customers to offer alternate travel arrangements."", 'We remain committed to our customers and team members and mitigating the impact of these delays while continuing to offer a comprehensive global network.', '""American will suspend some routes to Europe at the end of the summer.', ""Here's what's changing:American will also offer just a single daily flight between New York and Rome, instead of twice daily, starting Aug. 5, and service between Dallas/Fort Worth International Airport and Kona, Hawaii, won't operate this winter."", 'American said it will continue to offer 55 long-haul international routes this winter and that it will add nonstop service between Philadelphia and Barcelona on a daily basis starting in January, as well as seasonal service between Miami and Montevideo, Uruguay.', 'It will also add three-times-a-day flights between Miami and Sao Paulo.', ""The airline is further evaluating its schedule because of Boeing's 737 Max delays, it said."", ""Boeing didn't immediately respond to a request for comment."", 'Correction: American Airlines will add three-times-a-day flights between Miami and Sao Paulo.', 'A previous version of this story mischaracterized the schedule.']",0.0283126784543538,We remain committed to our customers and team members and mitigating the impact of these delays while continuing to offer a comprehensive global network.,"In this articleAmerican Airlines on Friday said Boeing's 787 Dreamliner delivery delays are forcing it to cut some long-haul flights in the second half of the year and into early 2025, the latest carrier to change its schedule tied to the plane-maker's production problems.",-0.2854051291942596,We remain committed to our customers and team members and mitigating the impact of these delays while continuing to offer a comprehensive global network.,"American expects to receive three Dreamliners this year, down from six, it said in a filing Thursday.",2024-04-26
-JetBlue shares tumble nearly 19% after airline lowers 2024 revenue outlook,https://www.cnbc.com/2024/04/23/jetblue-jblu-lowers-2024-revenue-outlook.html,2024-04-23T20:07:59+0000,"In this articleJetBlue Airways shares tumbled more than 18% Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected. New York-JetBlue forecast full-year sales would drop in the low single digits, also below Wall Street expectations, after estimating flat sales for the year in its January report.JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.""As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,"" Joanna Geraghty, who became CEO in February, said in an earnings release. ""We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again.""JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes.""It's definitely a big hinderance,"" Geraghty told CNBC of the engine issue. ""Pratt's a good partner. We're focused on trying to make progress on compensation with them. We're not where we need to be. ... But that is ultimately what is depressing our growth.""Geraghty said the airline expects lower capacity next year.In an investor presentation Tuesday, the airline said it was ""actively exploring"" more cost cuts. JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue's President, Marty St. George, who returned to the airline earlier this year.— CNBC's Phil LeBeau contributed to this report.",CNBC,23/04/2024,"['In this articleJetBlue Airways shares tumbled more than 18% Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.', 'The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected.', 'New York-JetBlue forecast full-year sales would drop in the low single digits, also below Wall Street expectations, after estimating flat sales for the year in its January report.', 'JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats.', 'The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.', 'The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.', '""As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue\'s network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,"" Joanna Geraghty, who became CEO in February, said in an earnings release. ""', 'We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again.', '""JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes.', '""It\'s definitely a big hinderance,"" Geraghty told CNBC of the engine issue. ""', ""Pratt's a good partner."", ""We're focused on trying to make progress on compensation with them."", ""We're not where we need to be. ..."", 'But that is ultimately what is depressing our growth.', '""Geraghty said the airline expects lower capacity next year.', 'In an investor presentation Tuesday, the airline said it was ""actively exploring"" more cost cuts.', 'JetBlue earlier this year said it woulddefer $2.5 billion in aircraft spendinguntil the end of the year.', 'In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.', 'Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.', 'Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue\'s President, Marty St. George, who returned to the airline earlier this year.—', ""CNBC's Phil LeBeau contributed to this report.""]",0.1087231275982441,"The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.","In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.",-0.245643176138401,"Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue's President, Marty St. George, who returned to the airline earlier this year.—","Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.",2024-04-26
-FDA approves Pfizer’s first gene therapy for rare inherited bleeding disorder,https://www.cnbc.com/2024/04/26/fda-approves-pfizer-gene-therapy-beqvez-for-treatment-of-hemophilia-b.html,2024-04-26T13:22:54+0000,"In this articleThe Food and Drug Administration on Friday announced that the agency approved Pfizer's treatment for a rare genetic bleeding disorder, making it the company's first gene therapy to win clearance in the U.S. The agency greenlighted the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B who meet certain requirements.The treatment will be available by prescription to eligible patients this quarter, a Pfizer spokesperson told CNBC. It has a hefty $3.5 million price tag before insurance and other rebates, the spokesperson added, making it by far one of the most expensive drugs in the U.S.More than 7,000 people in the U.S. are living with the debilitating condition, which predominantly affects men, according to an advocacy group. The condition is caused by insufficient levels of a certain protein that helps blood clot to stop bleeding and seal wounds. Without that protein, called factor IX, patients with hemophilia B bruise easily and bleed more frequently and for longer periods of time. Beqvez is a one-time treatment designed to enable patients to produce factor IX themselves and prevent and control bleeding. In a late-stage trial, the drug was superior to the often-cumbersome standard treatment for hemophilia B, which involves administering the protein multiple times a week or a month through the veins. ""Many people with hemophilia B struggle with the commitment and lifestyle disruption of regular [factor IX] infusions, as well as spontaneous bleeding episodes, which can lead to painful joint damage and mobility issues,"" said Adam Cuker, director of Penn Medicine's Comprehensive and Hemophilia Thrombosis Program, in a Pfizer release on Friday.Pfizer's drug ""has the potential to be transformative for appropriate patients by reducing both the medical and treatment burden over the long term,"" Cuker added. The approval is a big step for Pfizer, which is trying to regain its footing following the rapid decline of its Covid business last year. The company is betting big on cancer drugs and treatments for other disease areas to help turn its business around. Pfizer is one of several companies to invest in the rapidly growing field of gene and cell therapies — one-time, high-cost treatments that target a patient's genetic source or cell to cure or significantly alter the course of a disease. Some health experts expect these therapies to replace traditional lifelong treatments that people take to manage chronic diseases. Pfizer gained the rights to produce and market Beqvez from Spark Therapeutics in 2014. The company is offering payers a warranty program to cover patients who receive Beqvez, a spokesperson told CNBC. Pfizer expects that program to offer ""financial protection by insuring against the risk of efficacy failure,"" the release said.The gene therapy will compete with Australia-based CSL Behring's Hemgenix, a similar treatment that won FDA approval for hemophilia B in 2022. That drug has a similar list price of $3.5 million in the U.S. before insurance and other rebates. Notably, some health experts have said that high costs and logistical issues, among other factors, have limited the uptake of Hemgenix and another approved gene therapy for the more common hemophilia A. Pfizer also seeks FDA approval for its experimental antibody, marstacimab, to treat hemophilia A and B. The company is also developing a gene therapy for Duchenne muscular dystrophy, a genetic disorder that causes muscles to weaken gradually.",CNBC,26/04/2024,"[""In this articleThe Food and Drug Administration on Friday announced that the agency approved Pfizer's treatment for a rare genetic bleeding disorder, making it the company's first gene therapy to win clearance in the U.S.The agency greenlighted the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B who meet certain requirements."", 'The treatment will be available by prescription to eligible patients this quarter, a Pfizer spokesperson told CNBC.', 'It has a hefty $3.5 million price tag before insurance and other rebates, the spokesperson added, making it by far one of the most expensive drugs in the U.S.More than 7,000 people in the U.S. are living with the debilitating condition, which predominantly affects men, according to an advocacy group.', 'The condition is caused by insufficient levels of a certain protein that helps blood clot to stop bleeding and seal wounds.', 'Without that protein, called factor IX, patients with hemophilia B bruise easily and bleed more frequently and for longer periods of time.', 'Beqvez is a one-time treatment designed to enable patients to produce factor IX themselves and prevent and control bleeding.', 'In a late-stage trial, the drug was superior to the often-cumbersome standard treatment for hemophilia B, which involves administering the protein multiple times a week or a month through the veins.', '""Many people with hemophilia B struggle with the commitment and lifestyle disruption of regular [factor IX] infusions, as well as spontaneous bleeding episodes, which can lead to painful joint damage and mobility issues,"" said Adam Cuker, director of Penn Medicine\'s Comprehensive and Hemophilia Thrombosis Program, in a Pfizer release on Friday.', 'Pfizer\'s drug ""has the potential to be transformative for appropriate patients by reducing both the medical and treatment burden over the long term,"" Cuker added.', 'The approval is a big step for Pfizer, which is trying to regain its footing following the rapid decline of its Covid business last year.', 'The company is betting big on cancer drugs and treatments for other disease areas to help turn its business around.', ""Pfizer is one of several companies to invest in the rapidly growing field of gene and cell therapies — one-time, high-cost treatments that target a patient's genetic source or cell to cure or significantly alter the course of a disease."", 'Some health experts expect these therapies to replace traditional lifelong treatments that people take to manage chronic diseases.', 'Pfizer gained the rights to produce and market Beqvez from Spark Therapeutics in 2014.The company is offering payers a warranty program to cover patients who receive Beqvez, a spokesperson told CNBC.', 'Pfizer expects that program to offer ""financial protection by insuring against the risk of efficacy failure,"" the release said.', ""The gene therapy will compete with Australia-based CSL Behring's Hemgenix, a similar treatment that won FDA approval for hemophilia B in 2022."", 'That drug has a similar list price of $3.5 million in the U.S. before insurance and other rebates.', 'Notably, some health experts have said that high costs and logistical issues, among other factors, have limited the uptake of Hemgenix and another approved gene therapy for the more common hemophilia A.Pfizer also seeks FDA approval for its experimental antibody, marstacimab, to treat hemophilia A and B. The company is also developing a gene therapy for Duchenne muscular dystrophy, a genetic disorder that causes muscles to weaken gradually.']",0.1071113389428697,"The gene therapy will compete with Australia-based CSL Behring's Hemgenix, a similar treatment that won FDA approval for hemophilia B in 2022.","Pfizer expects that program to offer ""financial protection by insuring against the risk of efficacy failure,"" the release said.",0.1729708313941955,"In this articleThe Food and Drug Administration on Friday announced that the agency approved Pfizer's treatment for a rare genetic bleeding disorder, making it the company's first gene therapy to win clearance in the U.S.The agency greenlighted the drug, which will be marketed as Beqvez, for adults with moderate to severe hemophilia B who meet certain requirements.","Notably, some health experts have said that high costs and logistical issues, among other factors, have limited the uptake of Hemgenix and another approved gene therapy for the more common hemophilia A.Pfizer also seeks FDA approval for its experimental antibody, marstacimab, to treat hemophilia A and B. The company is also developing a gene therapy for Duchenne muscular dystrophy, a genetic disorder that causes muscles to weaken gradually.",2024-04-26
-Bubble tea: China chain Chabaidao plunges in Hong Kong debut,https://www.bbc.co.uk/news/articles/cv208e2d141o,2024-04-23T05:47:25.747Z,"Shares in Chinese bubble tea chain Sichuan Baicha Baidao, which is also known as Chabaidao, have fallen by more than 26% in their first day of trading on the Hong Kong Stock Exchange. Chabaidao's market debut was the Asian financial hub's largest initial public offering (IPO) so far this year. The poor performance underscores the difficulties the city is facing in attracting investment. Chabaidao, which means 100 varieties of tea, is China’s third-biggest fresh tea drinks chain by retail sales. The Chengdu-based company raised about $330m (£267m) in the IPO even as the offering was met with tepid interest from investors. The firm said it plans to use about half the money to upgrade its operations and strengthen its supply chain. Rival bubble tea firms Mixue, Guming and Auntea Jenny have also said they are planning to sell shares in Hong Kong. However, Chabaidao's weak debut highlights the challenges faced by authorities as they attempt to revive confidence in the city's stock market. Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China. Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades. The city's benchmark Hang Seng share index has lost over 16% of its value in the last year. Last week, China’s securities regulator said it will support share offerings in Hong Kong. The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub. ",BBC,23/04/2024,"['Shares in Chinese bubble tea chain Sichuan Baicha Baidao, which is also known as Chabaidao, have fallen by more than 26% in their first day of trading on the Hong Kong Stock Exchange.', ""Chabaidao's market debut was the Asian financial hub's largest initial public offering (IPO) so far this year."", 'The poor performance underscores the difficulties the city is facing in attracting investment.', 'Chabaidao, which means 100 varieties of tea, is China’s third-biggest fresh tea drinks chain by retail sales.', 'The Chengdu-based company raised about $330m (£267m) in the IPO even as the offering was met with tepid interest from investors.', 'The firm said it plans to use about half the money to upgrade its operations and strengthen its supply chain.', 'Rival bubble tea firms Mixue, Guming and Auntea Jenny have also said they are planning to sell shares in Hong Kong.', ""However, Chabaidao's weak debut highlights the challenges faced by authorities as they attempt to revive confidence in the city's stock market."", ""Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China."", 'Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.', ""The city's benchmark Hang Seng share index has lost over 16% of its value in the last year."", 'Last week, China’s securities regulator said it will support share offerings in Hong Kong.', ""The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub.""]",0.2742914355646294,Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China.,"Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.",-0.5467110541131761,The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub.,"Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.",2024-04-26
-Disney technology executive Aaron LaBerge to leave company for personal reasons,https://www.cnbc.com/2024/04/22/disney-cto-aaron-laberge-to-leave-company-for-personal-reasons.html,2024-04-22T18:03:15+0000,"Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo.LaBerge is taking a job as CTO of PENN Entertainment, which operates ESPN Bet, the sports media company's licensed online sportsbook. He'll be responsible for driving technology strategy as a top executive in the company's interactive division. LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said.LaBerge has been a key figure in developing Disney's streaming services and, more recently, integrating advertising into Disney+. He's also led efforts to unify Hulu and Disney+ within one streaming application, which debuted last month.At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. Discovery and Fox, and ESPN's flagship streaming service that will launch in 2025.His departure adds to a growing list of veteran Disney executives who have left the company in recent years. They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.""We want to thank Aaron for the contributions he has made and the leadership he has provided at Disney over his 20 years,"" said ESPN Chairman Jimmy Pitaro and Disney Entertainment co-Chairmen Dana Walden and Alan Bergman in an internal note to employees. ""It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be a key partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.""A search for LaBerge's successor is already underway, according to a person familiar with the matter, who asked to remain anonymous because the transition plan is private. Chris Lawson, currently Disney's executive vice president of content operations and one of LaBerge's direct reports, will take over LaBerge's job on an interim basis when he departs.LaBerge first joined Disney in the late 1990s as part of the company's takeover of Starwave, a Paul Allen-founded company that partnered with ESPN before Disney fully acquired it it in 1998.WATCH: Three stock lunch: Alphabet, Disney and Salesforce",CNBC,22/04/2024,"['Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo.', ""LaBerge is taking a job as CTO of PENN Entertainment, which operates ESPN Bet, the sports media company's licensed online sportsbook."", ""He'll be responsible for driving technology strategy as a top executive in the company's interactive division."", 'LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said.', ""LaBerge has been a key figure in developing Disney's streaming services and, more recently, integrating advertising into Disney+."", ""He's also led efforts to unify Hulu and Disney+ within one streaming application, which debuted last month."", ""At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. Discovery and Fox, and ESPN's flagship streaming service that will launch in 2025.His departure adds to a growing list of veteran Disney executives who have left the company in recent years."", 'They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.', '""We wantto thank Aaron for the contributions he has made and the leadership he has provided at Disney over his 20 years,"" said ESPN Chairman Jimmy Pitaro and Disney Entertainment co-Chairmen Dana Walden and Alan Bergman in an internal note to employees. ""', 'It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.', '""A search for LaBerge\'s successor is already underway, according to a person familiar with the matter, who asked to remain anonymous because the transition plan is private.', ""Chris Lawson, currently Disney's executive vice president of content operations and one of LaBerge's direct reports, will take over LaBerge's job on an interim basis when he departs."", ""LaBerge first joined Disney in the late 1990s as part of the company's takeover of Starwave, a Paul Allen-founded company that partnered with ESPN before Disney fully acquired it it in 1998.WATCH: Three stock lunch: Alphabet, Disney and Salesforce""]",0.2673360788282376,"It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.",,0.9995514750480652,"It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.",,2024-04-26
-Sainsbury's says almost everyone now shops in store,https://www.bbc.co.uk/news/business-68895280,2024-04-25T07:00:09.000Z,"Sainsbury's says shoppers are returning to its stores as the surge in online shopping seen during the Covid pandemic continues to unwind. The UK's second largest supermarket said online sales had been above 20% at the height of the pandemic, but are now back to about 13%.  Its comments came as it reported strong food sales after spending heavily on keeping prices low to attract shoppers. However, other areas were weaker, with sales of clothing and fuel falling. Sainsbury's said pre-tax profits for the past year had fallen 15% to £277m, reflecting costs related to its decision to wind down its banking division. However, underlying profits rose 1.6% to £701m, which was slightly higher than expected, and Sainsbury's said it was ""confident of delivering strong profit growth in the year ahead"". The UK's second largest supermarket said its food business was ""firing on all cylinders"", with grocery sales growing by 9.4% over the past year. Chief executive Simon Roberts said that more than 87% of all food sold was done so ""in a physical store"".   Supermarkets have been fighting hard for customers, with shoppers still feeling the effects of steep price rises over the past two years, which have ratcheted up the cost of living. Sainsbury's response has been to focus heavily on its food, which accounts for about three-quarters of its business,  and it said it has spent £780m over the past three years on keeping prices low, including promotions such as Nectar prices and price-matching budget chain Aldi. Mr Roberts said he expected inflation - which measures the pace of price rises - to ""continue to stabilise"". Official figures released last week showed that overall inflation fell to 3.2% in March, partly due to declines in some food prices. Mr Roberts said he expected inflation to remain in ""low single digits"" in the year ahead. He also said there were signs that shoppers were beginning to ""trade up"" by buying more premium products when it came to food. However, he said it would probably take a cut in interest rates later this year to lift sales of more expensive non-food items for cautious shoppers. ""It is going to take a change in interest rates later in the year - let's hope - for the environment on discretionary spend begin to change,"" said Mr Roberts. While Sainsbury's food business performed well, its general merchandise sales - which include its Argos business - slipped 0.5% and clothing sales fell 6.4%. The company also owns the Habitat brand. The retailer said trading at Argos had been hit by last summer's wet weather, which affected sales of seasonal goods such as barbecues and paddling pools.  The weather also impacted clothes sales, as competitors launched sales to clear stock, and Sainsbury's said there had been some disruption to clothing supplies in recent months because of Houthi rebels attacks on shipping in the Red Sea. As Sainsbury's announced its results, a ""technical issue"" hit some of its online deliveries on Thursday. However, the retailer said the problem had been fixed, and had only affected a ""small number"" of customers. Read more tips here ",BBC,25/04/2024,"[""Sainsbury's says shoppers are returning to its stores as the surge in online shopping seen during the Covid pandemic continues to unwind."", ""The UK's second largest supermarket said online sales had been above 20% at the height of the pandemic, but are now back to about 13%."", 'Its comments came as it reported strong food sales after spending heavily on keeping prices low to attract shoppers.', 'However, other areas were weaker, with sales of clothing and fuel falling.', ""Sainsbury's said pre-tax profits for the past year had fallen 15% to £277m, reflecting costs related to its decision to wind down its banking division."", 'However, underlying profits rose 1.6% to £701m, which was slightly higher than expected, and Sainsbury\'s said it was ""confident of delivering strong profit growth in the year ahead"".', 'The UK\'s second largest supermarket said its food business was ""firing on all cylinders"", with grocery sales growing by 9.4% over the past year.', 'Chief executive Simon Roberts said that more than 87% of all food sold was done so ""in a physical store"".', 'Supermarkets have been fighting hard for customers, with shoppers still feeling the effects of steep price rises over the past two years, which have ratcheted up the cost of living.', ""Sainsbury's response has been to focus heavily on its food, which accounts for about three-quarters of its business, and it said it has spent £780m over the past three years on keeping prices low, including promotions such as Nectar prices and price-matching budget chain Aldi."", 'Mr Roberts said he expected inflation - which measures the pace of price rises - to ""continue to stabilise"".', 'Official figures released last week showed that overall inflation fell to 3.2% in March, partly due to declines in some food prices.', 'Mr Roberts said he expected inflation to remain in ""low single digits"" in the year ahead.', 'He also said there were signs that shoppers were beginning to ""trade up"" by buying more premium products when it came to food.', 'However, he said it would probably take a cut in interest rates later this year to lift sales of more expensive non-food items for cautious shoppers. ""', 'It is going to take a change in interest rates later in the year - let\'s hope - for the environment on discretionary spend begin to change,"" said Mr Roberts.', ""While Sainsbury's food business performed well, its general merchandise sales - which include its Argos business - slipped 0.5% and clothing sales fell 6.4%."", 'The company also owns the Habitat brand.', ""The retailer said trading at Argos had been hit by last summer's wet weather, which affected sales of seasonal goods such as barbecues and paddling pools."", ""The weather also impacted clothes sales, as competitors launched sales to clear stock, and Sainsbury's said there had been some disruption to clothing supplies in recent months because of Houthi rebels attacks on shipping in the Red Sea."", 'As Sainsbury\'s announced its results, a ""technical issue"" hit some of its online deliveries on Thursday.', 'However, the retailer said the problem had been fixed, and had only affected a ""small number"" of customers.', 'Read more tips here']",0.0009373406900937,"However, underlying profits rose 1.6% to £701m, which was slightly higher than expected, and Sainsbury's said it was ""confident of delivering strong profit growth in the year ahead"".","However, other areas were weaker, with sales of clothing and fuel falling.",-0.0594508963472702,"The UK's second largest supermarket said its food business was ""firing on all cylinders"", with grocery sales growing by 9.4% over the past year.","Sainsbury's said pre-tax profits for the past year had fallen 15% to £277m, reflecting costs related to its decision to wind down its banking division.",2024-04-26
-"FTC is sued by business groups over its ban on noncompete agreements, which may delay enforcement",https://edition.cnn.com/2024/04/25/success/ftc-noncompete-ban-lawsuit/index.html,"
-  Updated
-        9:45 AM EDT, Fri April 26, 2024
-    ","Less than 24 hours after the Federal Trade Commission issued a final rule this week banning employers from using noncompete agreements in the United States, the US Chamber of Commerce and the Business Roundtable filed a lawsuit against the agency in federal court in the Eastern District of Texas.
-    
-            Another lawsuit was filed in federal court in the Northern District of Texas by business tax services firm Ryan.
-    
-            And more may be filed in the coming weeks. “We think it’s likely additional lawsuits could be filed,” said employment lawyer Daniel Turinsky, a partner at DLA Piper.
-    
-            Even before the rule was issued, the US Chamber had promised to sue on grounds that, in its view, the agency exceeded its administrative authority by outlawing what it deems “unfair methods of competition.”
-    
-            The suit argues that without a clear legislative mandate from Congress, the FTC does not have the power to issue and enforce its blanket noncompete ban.
-    
-            “The FTC contends that by using regulation they can simply declare common business practices to be ‘unfair methods of competition’ and thus illegal. This is despite the fact that noncompete agreements have been around longer than the 110-year-old FTC and until now no one has suggested that they are illegal,” the US Chamber said in a release announcing the lawsuit. “If the FTC can regulate noncompete agreements, then they can decide to regulate or even ban any other business practice. All without a vote from Congress.”
-    
-            The Chamber and the Business Roundtable, along with a third plaintiff — the Longview Chamber of Commerce in Longview, Texas — are asking the court to issue a stay to stop the rule from going into effect, a preliminary injunction that would prohibit the FTC from enforcing the rule while the case is being litigated, “or both.”
-    
-            In response to the US Chamber’s lawsuit, FTC Chair Lina Khan expressed confidence the agency is on firm ground legally. Appearing on CNN’s “The Lead With Jake Tapper” after the new noncompete prohibition was announced, she said the agency has “clear legal authority” to issue such a ban.
-    
-            The FTC rule isn’t set to go into effect until 120 days from the day it is published in the Federal Register. So likely not before September.
-    
-            But that effective date could be postponed if the federal courts in Texas — or any other courts where suits are filed — decide to grant a stay or preliminary injunction.
-    
-            That leaves employers and employees in limbo when it comes to existing noncompete agreements, almost all of which would become unenforceable if and when the rule takes effect. (The only exception here are existing noncompetes for senior executives — they will remain in force regardless.)
-    
-            In the near term, “I’m generally telling clients to take a wait-and-see approach with respect to the FTC rule while court challenges play out in the next few weeks,” Turinsky said.
-    
-            If the rule is put on ice until the cases are decided, and then appeals are filed, that could further delay the rule’s effective date by many more months if it isn’t ultimately struck down completely.
-    
-            Translation: It could be awhile before the validity of the non-compete ban is determined, said James Witz, a shareholder at Littler, an employer-side law firm, and co-chair of the firm’s Unfair Competition and Trade Secrets Practice Group.
-    
-            But employers still seeking to issue new noncompetes while the cases are litigated, may face resistance from some employees who are now aware of the FTC’s action, Witz noted.",CNN,26/04/2024,"['Less than 24 hours after the Federal Trade Commission issued a final rule this week banning employers from using noncompete agreements in the United States, the US Chamber of Commerce and the Business Roundtable filed a lawsuit against the agency in federal court in the Eastern District of Texas.', 'Another lawsuit was filed in federal court in the Northern District of Texas by business tax services firm Ryan.', 'And more may be filed in the coming weeks. “', 'We think it’s likely additional lawsuits could be filed,” said employment lawyer Daniel Turinsky, a partner at DLA Piper.', 'Even before the rule was issued, the US Chamber had promised to sue on grounds that, in its view, the agency exceeded its administrative authority by outlawing what it deems “unfair methods of competition.”', 'The suit argues that without a clear legislative mandate from Congress, the FTC does not have the power to issue and enforce its blanket noncompete ban.', '“The FTC contends that by using regulation they can simply declare common business practices to be ‘unfair methods of competition’ and thus illegal.', 'This is despite the fact that noncompete agreements have been around longer than the 110-year-old FTC and until now no one has suggested that they are illegal,” the US Chamber said in a release announcing the lawsuit. “', 'If the FTC can regulate noncompete agreements, then they can decide to regulate or even ban any other business practice.', 'All without a vote from Congress.”', 'The Chamber and the Business Roundtable, along with a third plaintiff — the Longview Chamber of Commerce in Longview, Texas — are asking the court to issue a stay to stop the rule from going into effect, a preliminary injunction that would prohibit the FTC from enforcing the rule while the case is being litigated, “or both.”', 'In response to the US Chamber’s lawsuit, FTC Chair Lina Khan expressed confidence the agency is on firm ground legally.', 'Appearing on CNN’s “The Lead With Jake Tapper” after the new noncompete prohibition was announced, she said the agency has “clear legal authority” to issue such a ban.', 'The FTC rule isn’t set to go into effect until 120 days from the day it is published in the Federal Register.', 'So likely not before September.', 'But that effective date could be postponed if the federal courts in Texas — or any other courts where suits are filed — decide to grant a stay or preliminary injunction.', 'That leaves employers and employees in limbo when it comes to existing noncompete agreements, almost all of which would become unenforceable if and when the rule takes effect. (', 'The only exception here are existing noncompetes for senior executives — they will remain in force regardless.)', 'In the near term, “I’m generally telling clients to take a wait-and-see approach with respect to the FTC rule while court challenges play out in the next few weeks,” Turinsky said.', 'If the rule is put on ice until the cases are decided, and then appeals are filed, that could further delay the rule’s effective date by many more months if it isn’t ultimately struck down completely.', 'Translation: It could be awhile before the validity of the non-compete ban is determined, said James Witz, a shareholder at Littler, an employer-side law firm, and co-chair of the firm’s Unfair Competition and Trade Secrets Practice Group.', 'But employers still seeking to issue new noncompetes while the cases are litigated, may face resistance from some employees who are now aware of the FTC’s action, Witz noted.']",-0.0700374361376802,But that effective date could be postponed if the federal courts in Texas — or any other courts where suits are filed — decide to grant a stay or preliminary injunction.,"The suit argues that without a clear legislative mandate from Congress, the FTC does not have the power to issue and enforce its blanket noncompete ban.",-0.3911002427339554,"In response to the US Chamber’s lawsuit, FTC Chair Lina Khan expressed confidence the agency is on firm ground legally.","If the rule is put on ice until the cases are decided, and then appeals are filed, that could further delay the rule’s effective date by many more months if it isn’t ultimately struck down completely.",2024-04-26
-"TikTok will not be sold, Chinese parent ByteDance tells US",https://www.bbc.co.uk/news/articles/c289n8m4j19o,2024-04-26T02:49:22.588Z,"TikTok's Chinese parent company ByteDance says it has no intention of selling the business after the US passed a law to force it to sell the hugely popular video app or be banned in America. ""ByteDance doesn't have any plans to sell TikTok,"" the company posted on its official account on Toutiao, a social media platform it owns. TikTok did not immediately respond to a request for comment from the BBC. Earlier this week, TikTok said it would challenge in court the ""unconstitutional"" law. The statement from ByteDance came in response to an article by the technology industry website The Information that said it was exploring the potential sale of TikTok’s operation in the US without the algorithm that powers it. ""Foreign media reports of ByteDance selling TikTok are not true,"" the company said in the post, which included a screen shot of the article with the Chinese characters meaning ""false rumour"" stamped on it.  The sell-or-ban measure was signed into law by US President Joe Biden on Wednesday. Beijing's tightening grip on private companies has raised concerns in the US, and other Western countries, about how much control the Chinese Communist Party has over ByteDance, and the data it holds. TikTok has repeatedly denied claims the Chinese government has control over ByteDance. ""We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew in a video posted on the platform this week. ""The facts, and the Constitution, are on our side... rest assured, we aren't going anywhere."" According to TikTok, ByteDance's Chinese founder owns 20% of shares, through a controlling stake in the company. About 60% is owned by institutional investors, including major US investment firms Carlyle Group, General Atlantic, and Susquehanna International Group. The remaining 20% is owned by its employees around the world and three of ByteDance's five board members are American. The Chinese government has also dismissed such concerns as paranoia and has warned that a TikTok ban would ""inevitably come back to bite the US"". However, TikTok is not facing an immediate ban in the US. The new law gives ByteDance nine months to sell the business, and an additional three-month grace period, before a potential ban can be enforced. That means the sale deadline would most likely come some time in 2025, after the winner of the 2024 presidential election takes office. ",BBC,26/04/2024,"['TikTok\'s Chinese parent company ByteDance says it has no intention of selling the business after the US passed a law to force it to sell the hugely popular video app or be banned in America. ""', 'ByteDance doesn\'t have any plans to sell TikTok,"" the company posted on its official account on Toutiao, a social media platform it owns.', 'TikTok did not immediately respond to a request for comment from the BBC.', 'Earlier this week, TikTok said it would challenge in court the ""unconstitutional"" law.', 'The statement from ByteDance came in response to an article by the technology industry website The Information that said it was exploring the potential sale of TikTok’s operation in the US without the algorithm that powers it. ""', 'Foreign media reports of ByteDance selling TikTok are not true,"" the company said in the post, which included a screen shot of the article with the Chinese characters meaning ""false rumour"" stamped on it.', 'The sell-or-ban measure was signed into law by US President Joe Biden on Wednesday.', ""Beijing's tightening grip on private companies has raised concerns in the US, and other Western countries, about how much control the Chinese Communist Party has over ByteDance, and the data it holds."", 'TikTok has repeatedly denied claims the Chinese government has control over ByteDance. ""', 'We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew in a video posted on the platform this week. ""', 'The facts, and the Constitution, are on our side... rest assured, we aren\'t going anywhere.""', ""According to TikTok, ByteDance's Chinese founder owns 20% of shares, through a controlling stake in the company."", 'About 60% is owned by institutional investors, including major US investment firms Carlyle Group, General Atlantic, and Susquehanna International Group.', ""The remaining 20% is owned by its employees around the world and three of ByteDance's five board members are American."", 'The Chinese government has also dismissed such concerns as paranoia and has warned that a TikTok ban would ""inevitably come back to bite the US"".', 'However, TikTok is not facing an immediate ban in the US.', 'The new law gives ByteDance nine months to sell the business, and an additional three-month grace period, before a potential ban can be enforced.', 'That means the sale deadline would most likely come some time in 2025, after the winner of the 2024 presidential election takes office.']",-0.0682909980731593,"That means the sale deadline would most likely come some time in 2025, after the winner of the 2024 presidential election takes office.","The Chinese government has also dismissed such concerns as paranoia and has warned that a TikTok ban would ""inevitably come back to bite the US"".",-0.3191591103871663,"We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew in a video posted on the platform this week. ""","The Chinese government has also dismissed such concerns as paranoia and has warned that a TikTok ban would ""inevitably come back to bite the US"".",2024-04-26
-Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html,"
-  Published
-        5:33 AM EDT, Tue March 19, 2024
-    ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.
-    
-            However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.
-    
-            For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.
-    
-            “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.”
-    
-            Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.
-    
-            For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.
-    
-            According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.”
-    
-            Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.
-    
-            Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.
-    
-            US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.
-    
-            Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. 
-    
-            “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that��s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.”
-    
-            Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.
-    
-            “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-04-26
-"Real Bedford: McMullen Park lease extended, owner says",https://www.bbc.co.uk/news/uk-england-beds-bucks-herts-68906565,2024-04-26T19:56:54.000Z,"The Bitcoin podcast co-owner of non-league football club Real Bedford has announced the team's lease on their ground has been extended for 15 years.  Formerly known as Bedford FC, the team play at McMullen Park in Bedford. Podcaster Peter McCormack announced the news on X, describing it as ""great news for the town and everybody involved in football in Bedford."" The club received a $4.5m (£33.6m) cryptocurrency investment earlier this month. Following the investment from Winklevoss Capital, an investment firm owned by Gemini founders and twin brother Cameron and Tyler Winklevoss, the pair became co-owners of the club. The lease on McMullen Park, just off the A421 near Cardington and right next to Bedford Town's ground, was due to run out in two years before the successful renegotiation. In a post on X, formerly Twitter, Mr McCormack said: ""I am pleased to announce that the council has just confirmed that they will be giving @realbedforda 15-year lease extension at McMullen Park. ""This is great news for the town and everybody involved in football in Bedford. Thank you to those who worked hard to get this over the line, especially Alan Young at @BedsFA."" He has previously spoken of his aspirations to make the non-league club into a Premier League side and moving to a bigger ground in the town long-term. He took over Bedford FC in 2021 and on Tuesday secured a second successive promotion and will compete in the Southern League Division One Central next season, which is the eighth tier of the English football league. Mr McCormack previously said the club was ""relentless about success"" and ""we're trying to build a club for the football league"". He said he was trying to do ""something different"" and create an international brand. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp 0800 169 1830 . ",BBC,26/04/2024,"[""The Bitcoin podcast co-owner of non-league football club Real Bedford has announced the team's lease on their ground has been extended for 15 years."", 'Formerly known as Bedford FC, the team play at McMullen Park in Bedford.', 'Podcaster Peter McCormack announced the news on X, describing it as ""great news for the town and everybody involved in football in Bedford.""', 'The club received a $4.5m (£33.6m) cryptocurrency investment earlier this month.', 'Following the investment from Winklevoss Capital, an investment firm owned by Gemini founders and twin brother Cameron and Tyler Winklevoss, the pair became co-owners of the club.', ""The lease on McMullen Park, just off the A421 near Cardington and right next to Bedford Town's ground, was due to run out in two years before the successful renegotiation."", 'In a post on X, formerly Twitter, Mr McCormack said: ""I am pleased to announce that the council has just confirmed that they will be giving @realbedforda 15-year lease extension at McMullen Park. ""', 'This is great news for the town and everybody involved in football in Bedford.', 'Thank you to those who worked hard to get this over the line, especially Alan Young at @BedsFA.""', 'He has previously spoken of his aspirations to make the non-league club into a Premier League side and moving to a bigger ground in the town long-term.', 'He took over Bedford FC in 2021 and on Tuesday secured a second successive promotion and will compete in the Southern League Division One Central next season, which is the eighth tier of the English football league.', 'Mr McCormack previously said the club was ""relentless about success"" and ""we\'re trying to build a club for the football league"".', 'He said he was trying to do ""something different"" and create an international brand.', 'Got a story?', 'Email eastofenglandnews@bbc.co.uk or WhatsApp 0800 169 1830 .']",0.3037237209161095,"In a post on X, formerly Twitter, Mr McCormack said: ""I am pleased to announce that the council has just confirmed that they will be giving @realbedforda 15-year lease extension at McMullen Park. """,,0.9791503846645356,"In a post on X, formerly Twitter, Mr McCormack said: ""I am pleased to announce that the council has just confirmed that they will be giving @realbedforda 15-year lease extension at McMullen Park. """,,2024-04-26
-Honda to build $11 billion electric vehicle hub in Canada,https://www.cnbc.com/2024/04/25/honda-to-build-11-billion-electric-vehicle-hub-in-canada.html,2024-04-25T15:57:06+0000,"In this articleDEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a ""comprehensive EV value chain,"" the Japanese automaker announced Thursday.The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel cell-powered vehicles.Honda said vehicle production will begin in 2028, with annual vehicle capacity of 240,000 units once it is fully operational. The investment in Alliston, Ontario, is expected to greatly assist in Honda's goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040.The timing of the investment may seem odd to industry onlookers and investors, as many automakers have announced pullbacks in their all-electric vehicle plans amid slower-than-expected adoption of EVs.Honda said the investment is ""for a future increase in EV demand in North America,"" with the battery plant capable of producing 36 gigawatt hours, or GWh, per year.The project is expected to create as least 1,000 new jobs, adding to the 4,200 employees the company currently has at its two existing manufacturing facilities in Ontario.Prime Minister of Canada Justin Trudeau said during a livestreamed press conference on Thursday that Honda's investment, 15 billion Canadian dollars, is the largest ever for the country's automotive industry. The company is expected to receive upward of CA$2.5 billion in assistance in tax credits and other incentives from the Canadian government, officials said.The investment is a major win for Canada and comes after Honda last year confirmed a $4.4 billion investment for a new U.S. battery plant in Ohio.""In North America, following the initiative to establish our EV production system capability in the U.S., we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario,"" Honda CEO Toshihiro Mibe said in a release. ""We will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.""Honda said it has ""begun the process of evaluating the scope of its investment and completing negotiations with its joint venture partners."" Its partner in the U.S. facility is LG Energy Solution.The company said it expects to finalize the plans over the next six months.",CNBC,25/04/2024,"['In this articleDEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a ""comprehensive EV value chain,"" the Japanese automaker announced Thursday.', 'The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel cell-powered vehicles.', 'Honda said vehicle production will begin in 2028, with annual vehicle capacity of 240,000 units once it is fully operational.', ""The investment in Alliston, Ontario, is expected to greatly assist in Honda's goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040.The timing of the investment may seem odd to industry onlookers and investors, as many automakers have announced pullbacks in their all-electric vehicle plans amid slower-than-expected adoption of EVs."", 'Honda said the investment is ""for a future increase in EV demand in North America,"" with the battery plant capable of producing 36 gigawatt hours, or GWh, per year.', 'The project is expected to create as least 1,000 new jobs, adding to the 4,200 employees the company currently has at its two existing manufacturing facilities in Ontario.', ""Prime Minister of Canada Justin Trudeau said during a livestreamed press conference on Thursday that Honda's investment, 15 billion Canadian dollars, is the largest ever for the country's automotive industry."", 'The company is expected to receive upward of CA$2.5 billion in assistance in tax credits and other incentives from the Canadian government, officials said.', 'The investment is a major win for Canada and comes after Honda last year confirmed a $4.4 billion investment for a new U.S. battery plant in Ohio.', '""In North America, following the initiative to establish our EV production system capability in the U.S., we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario,"" Honda CEO Toshihiro Mibe said in a release. ""', 'We will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.', '""Honda said it has ""begun the process of evaluating the scope of its investment and completing negotiations with its joint venture partners.""', 'Its partner in the U.S. facility is LG Energy Solution.', 'The company said it expects to finalize the plans over the next six months.']",0.3341687447145106,"""In North America, following the initiative to establish our EV production system capability in the U.S., we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario,"" Honda CEO Toshihiro Mibe said in a release. ""","The investment in Alliston, Ontario, is expected to greatly assist in Honda's goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040.The timing of the investment may seem odd to industry onlookers and investors, as many automakers have announced pullbacks in their all-electric vehicle plans amid slower-than-expected adoption of EVs.",0.9815447671072824,We will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.,,2024-04-26
-Do women-only co-working spaces have a future?,https://www.bbc.co.uk/news/business-68733573,2024-04-23T23:25:42.000Z,"Women-only business networking and co-working clubs like Chief in London and The Co-Working Space in Nottingham have recently closed their doors. The concept gained a lot of traction around the height of the MeToo movement. Some women find the idea a step backwards, but for others these clubs are a way to level the playing field. The idea of men-only ""gentlemen's clubs"" is well established, with centuries-old places like White's and The Garrick Club in London. But women-only ones have been on the rise too over the past decade, often with a twist - they focus on the idea of co-working. Co-working spaces are big, open-plan offices with hot desks and nice amenities where people can come and work on a membership basis. They have grown in popularity as remote working has become easier.  Women-only co-working spaces hit the headlines about eight years ago thanks to The Wing in the US. It was founded in New York by Audrey Gelman, former press secretary to Hillary Clinton, against the backdrop of the MeToo movement and Donald Trump's rise to power. It raised millions in funding, with a promise of female empowerment.  But then it suffered a spectacular fall during the pandemic. There was a staff revolt, with allegations of mistreatment and racism. Its pricing model led to accusations of social exclusivity. It was also hit by legal challenges for sexual discrimination over its core women-only membership policy. The self-proclaimed ""female utopia"" abruptly closed all of its spaces in the summer of 2022, including a branch in London. Despite the demise of The Wing, other women-only co-working spaces are still operating. There are about 50 in Europe, including several in the UK. One such place is The Hearth, in north London. Bonnie Lister Parsons, founder of SOS Dance Global, a digital platform that teaches women how to dance, is a regular. So why is she a member? It's been challenging growing her business as a woman, she explains, as only about 2% of venture capital funding goes to female-led companies. ""When you are operating in a world with a lot of headwinds, being in an all-female space is refreshing - and joyful,"" she says. She also says she wasn't impressed by her tour of the co-working space WeWork, where they were keen to boast about the free beer on tap: ""For the guy showing me round it was a massive selling point. I know not all women dislike beer, but personally, I couldn't care less.""  Audrey Gelman, founder of The Wing, used to argue that rival co-working spaces had ""pumps for beer, but not for breast milk"".  The Hearth is designed to feel like ""your dream home"", according to its founder Oi Leng Lui. The walls and furnishings are relaxing, pastel colours and an aromatic smell is pumped into the space where women hot desk. There is even a wellness room. Susie Campbell, a business adviser and coach, is another regular. ""I used to work in the City for many years - a very male-dominated environment,"" she explains. ""The air conditioning was always down too low... there's something just really safe here and a sense of community."" There are a handful of other women-only co-working spaces in the UK, including Egg in Edinburgh and Maven in Winchester, a former bridal shop which the owner decided to convert.  Zoe Ellis-Moore is the founder of Spaces to Places, which advises companies on how to find the best flexible office space. Women-only co-working spaces should be seen as part of a wider trend of people wanting to work flexibly in ""tribes"", she says. ""We've seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies."" Start-ups and freelancers want to work flexibly, but with a community of like-minded people, she points out, and women-only spaces represent a tribe, just like these. In 2017, the New York City Commission on Human Rights launched an investigation into The Wing over the issue of gender discrimination and the following year, a man filed a lawsuit against The Wing in Washington DC after he was refused admission.   The Wing adapted its membership rules to say that anyone could join, as long as they were committed to its mission of supporting women.  Other women-only spaces in the US followed suit.  The Coven in Minnesota started in 2018 as a women-only space after a successful crowdfunding campaign and now has four spaces. It has 1,000 members but men now make up about 20% of that figure. ""We were hearing from members that they wanted to invite more of their male friends into the space,"" says Erin Farrell, co-founder of The Coven, ""which led us to think, when we talk about physical and psychological safety, how tied to gender is that?""  Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.  Those that choose to join tend to be ""allies and accomplices"", she adds, and the clubs' amenities and programme of events remain women-focused. So where does this leave women-only spaces in the UK? ""Equality legislation in the UK [enshrined in the Equality Act] generally protects against discrimination based on gender in the supply of services,"" according to Sarah Evans, partner at Constantine Law, which specialises in employment and discrimination law, ""but there are exceptions, including for associations, groups and private clubs.""  ""Criteria apply, but women-only co-working groups, with the aim of supporting and facilitating women doing business together, are highly unlikely to fall foul of anti-discrimination laws,"" she says. The other pressing question is, are these spaces empowering women in the long term? Some workplace experts are not convinced. ""While women-only spaces can provide temporary relief from conflict, judgement, assumptions, and distractions,"" says Blaire Palmer, leadership consultant and author of Punks in Suits, ""it is vital that we all learn how to challenge each other and develop the skills to bring our unique perspective to our work.  ""Women-only spaces are useful for exploring, in a safer environment, the challenges of being a woman in what is still not a level playing field, but they should never become a place to hide permanently."" However, others think that women-only work clubs are counterproductive. ""Women-only co-working spaces are a step backwards,"" according to Anne Kirby, who set up The Candy Factory co-working space in Pennsylvania. ""Yes, women have unique challenges and are at a disadvantage in the business world, but how does removing yourself from real life get you anywhere? How can we expect men to understand the need for respect and equality if we subtract them from our daily work lives? ""We're working to disrupt the 'good ol' boys club' mentality; why create the same thing for women?""  Back downstairs at The Hearth, a lunch-and-learn workshop is taking place. The women who were working away on their laptops are now sitting in a square listening to a talk by Elena Megan, a self-discovery and mindset coach.  An audience member shares a story that perhaps explains the attraction of a women-only co-working space like this for some. She says she has always struggled to network with men because she feels they do not treat her like an equal professional.  The other members nod and murmur in agreement. ",BBC,23/04/2024,"['Women-only business networking and co-working clubs like Chief in London and The Co-Working Space in Nottingham have recently closed their doors.', 'The concept gained a lot of traction around the height of the MeToo movement.', 'Some women find the idea a step backwards, but for others these clubs are a way to level the playing field.', 'The idea of men-only ""gentlemen\'s clubs"" is well established, with centuries-old places like White\'s and The Garrick Club in London.', 'But women-only ones have been on the rise too over the past decade, often with a twist - they focus on the idea of co-working.', 'Co-working spaces are big, open-plan offices with hot desks and nice amenities where people can come and work on a membership basis.', 'They have grown in popularity as remote working has become easier.', 'Women-only co-working spaces hit the headlines about eight years ago thanks to The Wing in the US.', ""It was founded in New York by Audrey Gelman, former press secretary to Hillary Clinton, against the backdrop of the MeToo movement and Donald Trump's rise to power."", 'It raised millions in funding, with a promise of female empowerment.', 'But then it suffered a spectacular fall during the pandemic.', 'There was a staff revolt, with allegations of mistreatment and racism.', 'Its pricing model led to accusations of social exclusivity.', 'It was also hit by legal challenges for sexual discrimination over its core women-only membership policy.', 'The self-proclaimed ""female utopia"" abruptly closed all of its spaces in the summer of 2022, including a branch in London.', 'Despite the demise of The Wing, other women-only co-working spaces are still operating.', 'There are about 50 in Europe, including several in the UK.', 'One such place is The Hearth, in north London.', 'Bonnie Lister Parsons, founder of SOS Dance Global, a digital platform that teaches women how to dance, is a regular.', 'So why is she a member?', 'It\'s been challenging growing her business as a woman, she explains, as only about 2% of venture capital funding goes to female-led companies. ""', 'When you are operating in a world with a lot of headwinds, being in an all-female space is refreshing - and joyful,"" she says.', 'She also says she wasn\'t impressed by her tour of the co-working space WeWork, where they were keen to boast about the free beer on tap: ""For the guy showing me round it was a massive selling point.', 'I know not all women dislike beer, but personally, I couldn\'t care less.""', 'Audrey Gelman, founder of The Wing, used to argue that rival co-working spaces had ""pumps for beer, but not for breast milk"".', 'The Hearth is designed to feel like ""your dream home"", according to its founder Oi Leng Lui.', 'The walls and furnishings are relaxing, pastel colours and an aromatic smell is pumped into the space where women hot desk.', 'There is even a wellness room.', 'Susie Campbell, a business adviser and coach, is another regular. ""', 'I used to work in the City for many years - a very male-dominated environment,"" she explains. ""', 'The air conditioning was always down too low... there\'s something just really safe here and a sense of community.""', 'There are a handful of other women-only co-working spaces in the UK, including Egg in Edinburgh and Maven in Winchester, a former bridal shop which the owner decided to convert.', 'Zoe Ellis-Moore is the founder of Spaces to Places, which advises companies on how to find the best flexible office space.', 'Women-only co-working spaces should be seen as part of a wider trend of people wanting to work flexibly in ""tribes"", she says. ""', 'We\'ve seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies.""', 'Start-ups and freelancers want to work flexibly, but with a community of like-minded people, she points out, and women-only spaces represent a tribe, just like these.', 'In 2017, the New York City Commission on Human Rights launched an investigation into The Wing over the issue of gender discrimination and the following year, a man filed a lawsuit against The Wing in Washington DC after he was refused admission.', 'The Wing adapted its membership rules to say that anyone could join, as long as they were committed to its mission of supporting women.', 'Other women-only spaces in the US followed suit.', 'The Coven in Minnesota started in 2018 as a women-only space after a successful crowdfunding campaign and now has four spaces.', 'It has 1,000 members but men now make up about 20% of that figure. ""', 'We were hearing from members that they wanted to invite more of their male friends into the space,"" says Erin Farrell, co-founder of The Coven, ""which led us to think, when we talk about physical and psychological safety, how tied to gender is that?""', 'Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.', 'Those that choose to join tend to be ""allies and accomplices"", she adds, and the clubs\' amenities and programme of events remain women-focused.', 'So where does this leave women-only spaces in the UK? ""', 'Equality legislation in the UK [enshrined in the Equality Act] generally protects against discrimination based on gender in the supply of services,"" according to Sarah Evans, partner at Constantine Law, which specialises in employment and discrimination law, ""but there are exceptions, including for associations, groups and private clubs."" ""', 'Criteria apply, but women-only co-working groups, with the aim of supporting and facilitating women doing business together, are highly unlikely to fall foul of anti-discrimination laws,"" she says.', 'The other pressing question is, are these spaces empowering women in the long term?', 'Some workplace experts are not convinced. ""', 'While women-only spaces can provide temporary relief from conflict, judgement, assumptions, and distractions,"" says Blaire Palmer, leadership consultant and author of Punks in Suits, ""it is vital that we all learn how to challenge each other and develop the skills to bring our unique perspective to our work. ""', 'Women-only spaces are useful for exploring, in a safer environment, the challenges of being a woman in what is still not a level playing field, but they should never become a place to hide permanently.""', 'However, others think that women-only work clubs are counterproductive. ""', 'Women-only co-working spaces are a step backwards,"" according to Anne Kirby, who set up The Candy Factory co-working space in Pennsylvania. ""', 'Yes, women have unique challenges and are at a disadvantage in the business world, but how does removing yourself from real life get you anywhere?', 'How can we expect men to understand the need for respect and equality if we subtract them from our daily work lives? ""', 'We\'re working to disrupt the \'goodol\' boys club\' mentality; why create the same thing for women?""', 'Back downstairs at The Hearth, a lunch-and-learn workshop is taking place.', 'The women who were working away on their laptops are now sitting in a square listening to a talk by Elena Megan, a self-discovery and mindset coach.', 'An audience member shares a story that perhaps explains the attraction of a women-only co-working space like this for some.', 'She says she has always struggled to network with men because she feels they do not treat her like an equal professional.', 'The other members nod and murmur in agreement.']",0.226144467537617,"Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.",She says she has always struggled to network with men because she feels they do not treat her like an equal professional.,-0.0436989710881159,"We've seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies.""",But then it suffered a spectacular fall during the pandemic.,2024-04-26
-Open seating no more? Southwest CEO says airline is weighing cabin changes,https://www.cnbc.com/2024/04/25/southwest-weighing-cabin-changes-to-drive-revenue.html,2024-04-25T19:59:11+0000,"In this articleSouthwest Airlines is considering changes to its single-class, open-seating cabins to drive up revenue, CEO Bob Jordan told CNBC on Thursday, a shift that would be among the largest in the airline's history.""We're looking into new initiatives, things like the way we seat and board our aircraft,"" Jordan said in an interview after the carrier's disappointing first-quarter report.Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding for a fee so customers can snag their preferred seats. The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum.Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.Analysts have repeatedly asked Southwest about opportunities for premium seating or additional fees. (The airline doesn't charge travelers for their first two checked bags.)Most U.S. airlines charge travelers to choose many of its seats in advance, even those that don't come with extra legroom. Eight U.S. carriers — Alaska, Allegiant, American, Delta, Frontier, JetBlue, Spirit and United — together brought in $4.2 billion from seating fees in their domestic networks in 2022, according to Jay Sorensen, an airline ancillary revenue expert at IdeaWorksCompany.Jordan said no decisions have been made on what kind of changes Southwest will ultimately make, but he said studies have yielded ""interesting"" results.""Customer preferences do change over time,"" Jordan said.While details were scarce during Southwest's earnings call, when asked whether Southwest would consider a separated cabin on its planes, Ryan Green, the carrier's chief commercial officer said: ""Curtains and things like that are a bit far afield from what Southwest Airlines is.""Green added that the carrier is not considering charging for checked bags because ""people choose Southwest Airlines because we don't have bag fees.""— CNBC's Phil LeBeau contributed to this report.",CNBC,25/04/2024,"[""In this articleSouthwest Airlines is considering changes to its single-class, open-seating cabins to drive up revenue, CEO Bob Jordan told CNBC on Thursday, a shift that would be among the largest in the airline's history."", '""We\'re looking into new initiatives, things like the way we seat and board our aircraft,"" Jordan said in an interview after the carrier\'s disappointing first-quarter report.', ""Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding for a fee so customers can snag their preferred seats."", 'The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum.', 'Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.', 'Analysts have repeatedly asked Southwest about opportunities for premium seating or additional fees. (', ""The airline doesn't charge travelers for their first two checked bags.)Most U.S. airlines charge travelers to choose many of its seats in advance, even those that don't come with extra legroom."", 'Eight U.S. carriers — Alaska, Allegiant, American, Delta, Frontier, JetBlue, Spirit and United — together brought in $4.2 billion from seating fees in their domestic networks in 2022, according to Jay Sorensen, an airline ancillary revenue expert at IdeaWorksCompany.', 'Jordan said no decisions have been made on what kind of changes Southwest will ultimately make, but he said studies have yielded ""interesting"" results.', '""Customer preferences do change over time,"" Jordan said.', 'While details were scarce during Southwest\'s earnings call, when asked whether Southwest would consider a separated cabin on its planes, Ryan Green, the carrier\'s chief commercial officer said: ""Curtains and things like that are a bit far afield from what Southwest Airlines is.', '""Green added that the carrier is not considering charging for checked bags because ""people choose Southwest Airlines because we don\'t have bag fees.""—', ""CNBC's Phil LeBeau contributed to this report.""]",0.2277260589164618,"Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.","Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding for a fee so customers can snag their preferred seats.",0.9218981464703878,"Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.",,2024-04-26
-"Tesla cuts prices in US, China and Germany as competition heats up",https://edition.cnn.com/2024/04/22/cars/tesla-price-war-china-germany-us-intl-hnk/index.html,"
-  Updated
-        2:50 PM EDT, Mon April 22, 2024
-    ","Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets.
-    
-            The latest round of price cuts adds to a series of price cuts that Tesla has made dating back to early last year to try to maintain demand in the face of increased competition from EV offerings by traditional automakers and higher interest rates driving up the cost of car purchases for many buyers. Tesla’s price cuts have squeezed its profit margins and caused its stock to fall about 4% in trading Monday, ahead of its first quarter earnings report due out after the bell Tuesday.
-    
-            On Sunday, the EV giant slashed the starting prices of four models sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932). The Model Y, the company’s bestselling car in the country, now starts at its lowest -ever price of 249,900 yuan ($34,502).
-    
-            In Germany, Tesla’s biggest market in Europe, the price of its Model 3 rear-wheel drive was also lowered by 2,000 euros ($2,132) to 40,990 euros ($43,707), according to its official website.
-    
-            The first cuts were announced on Friday in the US, when Tesla reduced the prices of three of its five models. The prices of the Model Y, Model X and Model S were cut by $2,000 each, while those for the Model 3 and the Cybertruck remained unchanged.
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-            The flurry of cuts comes during a tough time for Tesla. Its stock has plunged more than 40% year-to-date, after it reported a drop in quarterly deliveries for the first time in nearly four years and announced job cuts equivalent to more than 10% of its global staff.
-    
-            On Saturday, Tesla CEO Elon Musk said he had postponed his planned trip to India, citing “very heavy” obligations at the company. He was due to arrive in the country this week for a visit that was expected to include a meeting with Prime Minister Narendra Modi and confirmation that Tesla will build a factory in the world’s most populous country.
-    
-            In China, the largest EV market in the world, Tesla’s price cuts are expected to exacerbate an existing price war in a highly competitive sector.
-    
-            On Monday, Chinese EV maker Li Auto (LI), led by billionaire entrepreneur Li Xiang, responded by announcing it was cutting the prices of all four of its models with immediate effect. Its Li Mega, which it says is the world’s largest passenger EV, now sells for 30,000 yuan ($4,142) cheaper.
-    
-            The American company was already facing stiff competition there.
-    
-            Tesla was briefly dethroned by China’s BYD as the world’s bestselling EV brand in the fourth quarter of last year. Compared with Tesla, BYD’s cars are more affordable.
-    
-            Its entry-level model sells in China for the equivalent of just below $10,000. In contrast, Tesla’s Model 3, its cheapest model, currently costs three times more at 231,900 yuan ($32,017) in China following Sunday’s price cut.
-    
-            China’s EV price war started in October 2022, when Tesla cut prices to boost sales as consumers slashed spending in a slowing economy. Almost all major manufacturers, including makers of gasoline vehicles, followed suit, impacting the entire auto industry’s profit margins.
-    
-            The competition continues unabated in 2024, with more than 30 major car makers announcing further price cuts.
-    
-            On Friday, XPeng, the Guangzhou-based EV maker, said it would offer 500 million yuan ($69 million) worth of subsidies for buyers who snap up four of its models.
-    
-            In March, BYD lowered the starting price of its most affordable EV, the Seagull hatchback, by 5% to 69,800 yuan ($9,670). Later that month, Xiaomi, the smartphone manufacturer, joined the EV race by launching its SU7 sedan to take on Tesla.
-    
-            CNN’s Chris Isidore contributed to this report.",CNN,22/04/2024,"['Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets.', 'The latest round of price cuts adds to a series of price cuts that Tesla has made dating back to early last year to try to maintain demand in the face of increased competition from EV offerings by traditional automakers and higher interest rates driving up the cost of car purchases for many buyers.', 'Tesla’s price cuts have squeezed its profit margins and caused its stock to fall about 4% in trading Monday, ahead of its first quarter earnings report due out after the bell Tuesday.', 'On Sunday, the EV giant slashed the starting prices of four models sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932).', 'The Model Y, the company’s bestselling car in the country, now starts at its lowest -ever price of 249,900 yuan ($34,502).', 'In Germany, Tesla’s biggest market in Europe, the price of its Model 3 rear-wheel drive was also lowered by 2,000 euros ($2,132) to 40,990 euros ($43,707), according to its official website.', 'The first cuts were announced on Friday in the US, when Tesla reduced the prices of three of its five models.', 'The prices of the Model Y, Model X and Model S were cut by $2,000 each, while those for the Model 3 and the Cybertruck remained unchanged.', 'The flurry of cuts comes during a tough time for Tesla.', 'Its stock has plunged more than 40% year-to-date, after it reported a drop in quarterly deliveries for the first time in nearly four years and announced job cuts equivalent to more than 10% of its global staff.', 'On Saturday, Tesla CEO Elon Musk said he had postponed hisplanned trip to India, citing “very heavy” obligations at the company.', 'He was due to arrive in the country this week for a visit that was expected to include a meeting with Prime Minister Narendra Modi and confirmation that Tesla will build a factory in the world’s most populous country.', 'In China, the largest EV market in the world, Tesla’s price cuts are expected to exacerbate an existing price war in a highly competitive sector.', 'On Monday, Chinese EV maker Li Auto (LI), led by billionaire entrepreneur Li Xiang, responded by announcing it was cutting the prices of all four of its models with immediate effect.', 'Its Li Mega, which it says is the world’s largest passenger EV, now sells for 30,000 yuan ($4,142) cheaper.', 'The American company was already facing stiff competition there.', 'Tesla was briefly dethroned by China’s BYD as the world’s bestselling EV brand in the fourth quarter of last year.', 'Compared with Tesla, BYD’s cars are more affordable.', 'Its entry-level model sells in China for the equivalent of just below $10,000.', 'In contrast, Tesla’s Model 3, its cheapest model, currently costs three times more at 231,900 yuan ($32,017) in China following Sunday’s price cut.', 'China’s EV price war started in October 2022, when Tesla cut prices to boost sales as consumers slashed spending in a slowing economy.', 'Almost all major manufacturers, including makers of gasoline vehicles, followed suit, impacting the entire auto industry’s profit margins.', 'The competition continues unabated in 2024, with more than 30 major car makers announcing further price cuts.', 'On Friday, XPeng, the Guangzhou-based EV maker, said it would offer 500 million yuan ($69 million) worth of subsidies for buyers who snap up four of its models.', 'In March, BYD lowered the starting price of its most affordable EV, the Seagull hatchback, by 5% to 69,800 yuan ($9,670).', 'Later that month, Xiaomi, the smartphone manufacturer, joined the EV race by launching its SU7 sedan to take on Tesla.', 'CNN’s Chris Isidore contributed to this report.']",-0.1271879233013134,"Almost all major manufacturers, including makers of gasoline vehicles, followed suit, impacting the entire auto industry’s profit margins.","China’s EV price war started in October 2022, when Tesla cut prices to boost sales as consumers slashed spending in a slowing economy.",-0.2734123538522159,"Compared with Tesla, BYD’s cars are more affordable.","Its stock has plunged more than 40% year-to-date, after it reported a drop in quarterly deliveries for the first time in nearly four years and announced job cuts equivalent to more than 10% of its global staff.",2024-04-26
-The challenge of upgrading iconic steel windows,https://www.bbc.co.uk/news/business-68777865,2024-04-15T23:11:05.000Z,"Every winter, architect Kevin Adams would perform his early morning ritual of devotion. Cloth in hand, he'd head to the stylish Crittall windows in the East London flat where he once lived - because these windows, though stylish, were also sopping wet. ""You'd know to expect it - you wipe it down, you open the window as soon as you can, you don't let it puddle or rot the sills,"" he says of the moisture that used to form on the single-glazing and thin steel frames of his windows when the weather was cold. ""I put up with it because I loved them. We do all kinds of things for love, don't we?"" Not everyone who has lived with vintage steel-framed windows feels so affectionate towards them, however. Crittall Windows became synonymous both with modernism - and condensation, which can lead to serious problems such as mould, says Mr Adams, a teaching fellow at the Edinburgh College of Art.  While many consider such windows iconic and a key part of British architectural heritage, given today's high energy prices and rising awareness around the dangers of mould, efficient windows have become essential. Crittall, like all other companies in the glazing industry, has had to stay relevant to survive. The firm, now based in Witham, Essex, has been manufacturing steel-framed windows since the 1880s. The frames Crittall developed could be mass produced, then simply cut and welded to fit an array of standard window sizes. The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. ""Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains. Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through. Workers appreciated this - but so did the wealthy, who wanted light, airy homes. A large, art deco country house built by Walter Crittall in the 1930s was listed for sale last year at £1.65m.  On the Crittall factory floor today, there is a machine that dates to the 1920s. It is still used occasionally for gently bending steel frame sections into curved pieces, says managing director Russell Ager: ""It's an incredible piece of kit."" But the company has moved on in many other ways, he stresses, and nearby machines in the building are now state-of-the-art. ""We've done so much work to improve the thermal performance of the products,"" adds Mr Ager. Today you can get double and even triple-glazed Crittall windows. And crucially, the steel frames are now made with a thermal break, a glass fibre section of insulation within the frame that prevents heat escaping through its structure. The lack of a thermal break is what made the older frames so prone to becoming cold when the weather outside was chilly. Cold glass and steel encourage moisture in the indoor air to condense. The latest Crittall windows can achieve a U-value - a measure of their insulating performance - as low as 0.8, which is better than standard double-glazed windows. They are heftier than the vintage versions but Crittall has retained the classic look of relatively skinny metal frames and rectangular or square panes of glass. TikTok and Instagram accounts focusing on home décor often feature windows such as this, though Crittall has many competitors now that make similar-looking products, admits Mr Ager. According to Mr Adams, in the post-war era, there weren't many other firms operating in the same market as Crittall in the UK. But that has changed. Many companies, including KJM Group and Velfac offer aluminium alternatives. And there are other steel window makers out there, too, such as Fabco. ""Most consumers… buy our product because they love the look of it,"" says Mr Ager. Business, at the moment, is good. During the early stage of the Covid-19 pandemic, Crittall's sales to residential customers seeking to improve their properties spiked by 30%. And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager. More technology of business Dated heritage installations reaching the end of their life present another opportunity. Crittall recently replaced 100-year-old windows that the firm had made for a building in Central London with new, energy efficient versions of the same products. This kind of upgrade is not accessible to all, however, because of the relatively high cost of contemporary glazing, notes Claire Bennie, director of Municipal, a housing design and development consultancy. ""Every year we have a chat about it at our AGM and everyone is afraid of taking the plunge,"" she says, referring to residents' meetings at the block of 1930s flats in London where she lives. The old Crittall windows in the property give the building ""elegance"", says Ms Bennie but also makes them ""freezing"". Her own flat's windows are not prone to condensation - but only because they are so draughty that they stay well-ventilated, she explains.  It will be increasingly difficult to justify the installation of new metal-framed windows in the future because of the embodied carbon in materials such as steel, says Ms Bennie. To reduce emissions and tackle climate change, sustainable timber building products ought to become more and more prominent, she argues. Mr Ager says Crittall windows are made with 100% recycled steel and the company is working to make its products and operations as sustainable as possible. Other challenges facing the company in the coming years, include the possibility that building regulations in England will change, so as to demand extremely energy efficient windows in new build properties. Stricter standards could mean a need to make the frames thicker still and even better insulated, says Mr Ager: ""The frames would almost become unrecognisable. It would be a big issue for anybody that makes a metal frame."" Sustainability is paramount, stresses Ms Bennie, but she does say the ergonomic design of Crittall windows is hard to beat. The windows are often easy to open into a position where you can reach outside and clean them yourself, for instance. And the classic balcony doors made by the firm fold back neatly so as not to take up precious space outside. ""I wish modern window manufacturers would take a lesson from Crittall,"" she says, ""In how to make windows liveable and a pleasure to use.""  ",BBC,15/04/2024,"['Every winter, architect Kevin Adams would perform his early morning ritual of devotion.', 'Cloth in hand, he\'d head to the stylish Crittall windows in the East London flat where he once lived - because these windows, though stylish, were also sopping wet. ""', 'You\'d know to expect it - you wipe it down, you open the window as soon as you can, you don\'t let it puddle or rot the sills,"" he says of the moisture that used to form on the single-glazing and thin steel frames of his windows when the weather was cold. ""', 'I put up with it because I loved them.', 'We do all kinds of things for love, don\'t we?""', 'Not everyone who has lived with vintage steel-framed windows feels so affectionate towards them, however.', 'Crittall Windows became synonymous both with modernism - and condensation, which can lead to serious problems such as mould, says Mr Adams, a teaching fellow at the Edinburgh College of Art.', ""While many consider such windows iconic and a key part of British architectural heritage, given today's high energy prices and rising awareness around the dangers of mould, efficient windows have become essential."", 'Crittall, like all other companies in the glazing industry, has had to stay relevant to survive.', 'The firm, now based in Witham, Essex, has been manufacturing steel-framed windows since the 1880s.', 'The frames Crittall developed could be mass produced, then simply cut and welded to fit an array of standard window sizes.', 'The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. ""', 'Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains.', 'Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through.', 'Workers appreciated this - but so did the wealthy, who wanted light, airy homes.', 'A large, art deco country house built by Walter Crittall in the 1930s was listed for sale last year at £1.65m. On the Crittall factory floor today, there is a machine that dates to the 1920s.', 'It is still used occasionally for gently bending steel frame sections into curved pieces, says managing director Russell Ager: ""It\'s an incredible piece of kit.""', 'But the company has moved on in many other ways, he stresses, and nearby machines in the building are now state-of-the-art. ""', 'We\'ve done so much work to improve the thermal performance of the products,"" adds Mr Ager.', 'Today you can get double and even triple-glazed Crittall windows.', 'And crucially, the steel frames are now made with a thermal break, a glass fibre section of insulation within the frame that prevents heat escaping through its structure.', 'The lack of a thermal break is what made the older frames so prone to becoming cold when the weather outside was chilly.', 'Cold glass and steel encourage moisture in the indoor air to condense.', 'The latest Crittall windows can achieve a U-value - a measure of their insulating performance - as low as 0.8, which is better than standard double-glazed windows.', 'They are heftier than the vintage versions but Crittall has retained the classic look of relatively skinny metal frames and rectangular or square panes of glass.', 'TikTok and Instagram accounts focusing on home décor often feature windows such as this, though Crittall has many competitors now that make similar-looking products, admits Mr Ager.', ""According to Mr Adams, in the post-war era, there weren't many other firms operating in the same market as Crittall in the UK."", 'But that has changed.', 'Many companies, including KJM Group and Velfac offer aluminium alternatives.', 'And there are other steel window makers out there, too, such as Fabco. ""', 'Most consumers… buy our product because they love the look of it,"" says Mr Ager.', 'Business, at the moment, is good.', ""During the early stage of the Covid-19 pandemic, Crittall's sales to residential customers seeking to improve their properties spiked by 30%."", ""And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager."", 'More technology of business Dated heritage installations reaching the end of their life present another opportunity.', 'Crittall recently replaced 100-year-old windows that the firm had made for a building in Central London with new, energy efficient versions of the same products.', 'This kind of upgrade is not accessible to all, however, because of the relatively high cost of contemporary glazing, notes Claire Bennie, director of Municipal, a housing design and development consultancy. ""', 'Every year we have a chat about it at our AGM and everyone is afraid of taking the plunge,"" she says, referring to residents\' meetings at the block of 1930s flats in London where she lives.', 'The old Crittall windows in the property give the building ""elegance"", says Ms Bennie but also makes them ""freezing"".', ""Her own flat's windows are not prone to condensation - but only because they are so draughty that they stay well-ventilated, she explains."", 'It will be increasingly difficult to justify the installation of new metal-framed windows in the future because of the embodied carbon in materials such as steel, says Ms Bennie.', 'To reduce emissions and tackle climate change, sustainable timber building products ought to become more and more prominent, she argues.', 'Mr Ager says Crittall windows are made with 100% recycled steel and the company is working to make its products and operations as sustainable as possible.', 'Other challenges facing the company in the coming years, include the possibility that building regulations in England will change, so as to demand extremely energy efficient windows in new build properties.', 'Stricter standards could mean a need to make the frames thicker still and even better insulated, says Mr Ager: ""The frames would almost become unrecognisable.', 'It would be a big issue for anybody that makes a metal frame.""', 'Sustainability is paramount, stresses Ms Bennie, but she does say the ergonomic design of Crittall windows is hard to beat.', 'The windows are often easy to open into a position where you can reach outside and clean them yourself, for instance.', 'And the classic balcony doors made by the firm fold back neatly so as not to take up precious space outside. ""', 'I wish modern window manufacturers would take a lesson from Crittall,"" she says, ""In how to make windows liveable and a pleasure to use.""']",0.2012343859627007,"Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through.","The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. """,0.3039323623691286,"And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager.","Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains.",2024-04-26
-US economic growth slows but inflation grows,https://www.bbc.co.uk/news/business-68898432,2024-04-25T14:09:40.000Z,"The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.  Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023. Meanwhile, inflation, which measures the pace of price rises, has increased. At the start of the year, experts had been forecasting a series of interest rate cuts in the US. However, inflation is yet to fall back to the Federal Reserve's 2% target, and on Thursday, figures from the US Department of Commerce showed that inflation increased by 3.4% in the first three months of 2024. This is compared to an increase of 1.8% in the final three months of 2023. Raising interest rates makes borrowing - for things such as loans and mortgages - more expensive and theoretically is meant to encourage people to spend less. The idea is that this helps to bring inflation down by dampening demand. However, US inflation has not fallen back as quickly as expected. At the same time, economic growth - measured as gross domestic product (GDP) - has slowed from 3.4% growth in the final three months of last year to 1.6%. Economists had been expected it to decelerate but only to 2.4%. Olu Sonola, head of US economic research at Fitch, the credit rating agency, said: ""The hot inflation print is the real story in this report. ""If growth continues to slowly decelerate, but inflation strongly takes off again in the wrong direction, the expectation of a Fed interest rate cut in 2024 is starting to look increasingly more out of reach."" The key US interest rate is between 5.25% to 5.5% - the highest level in more than 20 years. Stuart Cole, chief macro economist at Equiti Capital in London, said the US Federal Reserve, which sets interest rates, was ""now finding itself caught between a rock and a hard place"". ""The growth numbers suggest monetary policy has worked its magic and the Fed's foot on the monetary brake can be eased somewhat,"" he said. ""But the inflation figures suggest otherwise, and potentially even point to the need for a further tightening."" The 1.6% growth figure is the first estimate of GDP. A second reading, ""based on more complete source data"", will be released on 30 May. Nevertheless, the economy is a key issue as the US heads towards an election later this year. ",BBC,25/04/2024,"['The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.', 'Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023.', 'Meanwhile, inflation, which measures the pace of price rises, has increased.', 'At the start of the year, experts had been forecasting a series of interest rate cuts in the US.', ""However, inflation is yet to fall back to the Federal Reserve's 2% target, and on Thursday, figures from the US Department of Commerce showed that inflation increased by 3.4% in the first three months of 2024."", 'This is compared to an increase of 1.8% in the final three months of 2023.', 'Raising interest rates makes borrowing - for things such as loans and mortgages - more expensive and theoretically is meant to encourage people to spend less.', 'The idea is that this helps to bring inflation down by dampening demand.', 'However, US inflation has not fallen back as quickly as expected.', 'At the same time, economic growth - measured as gross domestic product (GDP) - has slowed from 3.4% growth in the final three months of last year to 1.6%.', 'Economists had been expected it to decelerate but only to 2.4%.', 'Olu Sonola, head of US economic research at Fitch, the credit rating agency, said: ""The hot inflation print is the real story in this report. ""', 'If growth continues to slowly decelerate, but inflation strongly takes off again in the wrong direction, the expectation of a Fed interest rate cut in 2024 is starting to look increasingly more out of reach.""', 'The key US interest rate is between 5.25% to 5.5% - the highest level in more than 20 years.', 'Stuart Cole, chief macro economist at Equiti Capital in London, said the US Federal Reserve, which sets interest rates, was ""now finding itself caught between a rock and a hard place"". ""', 'The growth numbers suggest monetary policy has worked its magic and the Fed\'s foot on the monetary brake can be eased somewhat,"" he said. ""', 'But the inflation figures suggest otherwise, and potentially even point to the need for a further tightening.""', 'The 1.6% growth figure is the first estimate of GDP.', 'A second reading, ""based on more complete source data"", will be released on 30 May.', 'Nevertheless, the economy is a key issue as the US heads towards an election later this year.']",0.2672875493103288,Raising interest rates makes borrowing - for things such as loans and mortgages - more expensive and theoretically is meant to encourage people to spend less.,"The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.",0.1737287600835164,"Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023.","At the same time, economic growth - measured as gross domestic product (GDP) - has slowed from 3.4% growth in the final three months of last year to 1.6%.",2024-04-26
-Tesla Autopilot recall to be probed by US regulator,https://www.bbc.co.uk/news/articles/c4n17zl39v8o,2024-04-26T13:50:43.146Z,"The US auto regulator is investigating whether Tesla's biggest ever recall successfully addressed safety concerns relating to its driver assistance system. In December, Tesla issued a software update to two million of its vehicles in the US to fix problems with its Autopilot feature. The National Highway Traffic Safety Administration (NHTSA) says it will now probe the ""adequacy"" of that fix. Tesla has been approached for comment. The NHTSA has just concluded a nearly three-year-long investigation into crashes involving cars fitted with Autopilot. The agency said there had been at least 13 Tesla crashes, involving at least one death, and many more involving serious injuries, in which ""foreseeable driver misuse of the system played an apparent role."" A document outlining the NHTSA's new probe says it has identified concerns in Tesla's recall remedy after initial testing of remedied cars and analysing crashes which took place following its implementation. It also says that ""Tesla has stated that a portion of the remedy both requires the owner to opt in and allows a driver to readily reverse it."" The new investigation comes shortly after Tesla recalled thousands of its new Cybertrucks over an accelerator crash risk. 2024 has also seen sales and profits fall at the car-maker, and an on-going row about boss Elon Musk's enormous pay package. This was shortly after the firm announced layoffs to 10% of its global workforce after delivering less vehicles than investors expected. Mr Musk told investors in its latest earnings call that new electric vehicle model launches would be brought forward, but also that Tesla should be viewed as more than just a car company. He added its humanoid robot Optimus ""will be more valuable than everything else combined"". Autopilot is designed to assist drivers with steering, acceleration and braking and, despite what its name might suggest, still requires driver input and attention. Launched in 2015, the software forms part of the firm's wider vision for an autonomous driving future where human input is no longer needed at the wheel. Elon Musk, who owns Tesla, has previously suggested it can drive more safely than humans in some situations. It requires drivers to have their hands on the wheel and to be ""fully attentive"". But following its Autopilot investigation into Tesla crashes, the NHTSA said it found ""the prominence and scope of the feature's controls may not be sufficient to prevent driver misuse"". In early April, Tesla agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier. The BBC has previously heard from former Tesla employees who had raised concerns over the safety of its vehicles and software. Whistleblower Lukasz Krupski told the BBC in December he did not believe the technology powering the firm's vehicles was safe. ",BBC,26/04/2024,"[""The US auto regulator is investigating whether Tesla's biggest ever recall successfully addressed safety concerns relating to its driver assistance system."", 'In December, Tesla issued a software update to two million of its vehicles in the US to fix problems with its Autopilot feature.', 'The National Highway Traffic Safety Administration (NHTSA) says it will now probe the ""adequacy"" of that fix.', 'Tesla has been approached for comment.', 'The NHTSA has just concluded a nearly three-year-long investigation into crashes involving cars fitted with Autopilot.', 'The agency said there had been at least 13 Tesla crashes, involving at least one death, and many more involving serious injuries, in which ""foreseeable driver misuse of the system played an apparent role.""', ""A document outlining the NHTSA's new probe says it has identified concerns in Tesla's recall remedy after initial testing of remedied cars and analysing crashes which took place following its implementation."", 'It also says that ""Tesla has stated that a portion of the remedy both requires the owner to opt in and allows a driver to readily reverse it.""', 'The new investigation comes shortly after Tesla recalled thousands of its new Cybertrucks over an accelerator crash risk.', ""2024 has also seen sales and profits fall at the car-maker, and an on-going row about boss Elon Musk's enormous pay package."", 'This was shortly after the firm announced layoffs to 10% of its global workforce after delivering less vehicles than investors expected.', 'Mr Musk told investors in its latest earnings call that new electric vehicle model launches would be brought forward, but also that Tesla should be viewed as more than just a car company.', 'He added its humanoid robot Optimus ""will be more valuable than everything else combined"".', 'Autopilot is designed to assist drivers with steering, acceleration and braking and, despite what its name might suggest, still requires driver input and attention.', ""Launched in 2015, the software forms part of the firm's wider vision for an autonomous driving future where human input is no longer needed at the wheel."", 'Elon Musk, who owns Tesla, has previously suggested it can drive more safely than humans in some situations.', 'It requires drivers to have their hands on the wheel and to be ""fully attentive"".', 'But following its Autopilot investigation into Tesla crashes, the NHTSA said it found ""the prominence and scope of the feature\'s controls may not be sufficient to prevent driver misuse"".', 'In early April, Tesla agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.', 'The BBC has previously heard from former Tesla employees who had raised concerns over the safety of its vehicles and software.', ""Whistleblower Lukasz Krupski told the BBC in December he did not believe the technology powering the firm's vehicles was safe.""]",0.0573262183127233,The US auto regulator is investigating whether Tesla's biggest ever recall successfully addressed safety concerns relating to its driver assistance system.,"In early April, Tesla agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.",0.0205486714839935,"In early April, Tesla agreed to settle a lawsuit over a crash in 2018 which killed Apple engineer Walter Huang after his Model X, operating on Autopilot, collided with a highway barrier.","2024 has also seen sales and profits fall at the car-maker, and an on-going row about boss Elon Musk's enormous pay package.",2024-04-26
-"Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis",https://www.cnbc.com/2024/04/24/boeing-ba-earnings-q1-2024.html,2024-04-24T19:00:54+0000,"In this articleBoeing on Wednesday reported a better-than-expected quarter but continued to burn cash as it tries to stabilize production following a near-catastrophic door blowout on a 737 Max earlier this year.Boeing burned through $3.9 billion in the first quarter, beating a previous company forecast and Wall Street analysts' expectations for a cash burn of as much as $4.5 billion for the three-month period.""Near term, yes, we are in a tough moment,"" CEO Dave Calhoun, who announced in March that he would step down by year-end, said in a note to employees Wednesday. ""Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else. We are absolutely committed to doing everything we can to make certain our regulators, customers, employees, and the flying public are 100 percent confident in Boeing.""Boeing has been hamstrung in ramping up production, especially of its bestselling 737 Max planes, and instead has lowered output. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing production. The FAA also said it found numerous issues of noncompliance along Boeing's supply chain and on Feb. 28, gave Boeing 90 days to come up with a quality control improvement plan.Calhoun reiterated Wednesday that the company's 737 Max production has dropped below 38 Max jets per month and the company said the rate would stay there for at least through the first half of the year. Deliveries have slowed sharply this quarter. Boeing earlier this week told staff that it expects slower production increases and deliveries of its 787 Dreamliners because of parts shortages.Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes.The company will have a ""sizable use of cash"" in the second quarter too, said CFO Brian West on an earnings call Wednesday.Ratings agency Moody's on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. ""As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.""Boeing lost $355 million in the first quarter, or 56 cents a share, down from a $425 million, or 69 cent per-share, loss a year earlier. Excluding one-time items, including pension costs, The company lost $388 million, or $1.13 a share.Revenue fell 8% to $16.57 million, slightly ahead of analysts' estimates.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Calhoun on Wednesday stood by the company's goal of $10 billion in annual free cash flow in the 2025-2026 period, but said hitting that target would likely be delayed by about six months.""I believe it, I just do,"" Calhoun said of the $10 billion goal.Boeing has been scrambling to reduce what is known as ""traveled work,"" when manufacturing steps occur out of order because of defects. Calhoun told CNBC in an interview Wednesday that the company's fuselage maker Spirit AeroSystems will ""only ship a conforming fuselage.""Boeing has been in talks to buy back Spirit, which it spun off almost 20 years ago. The Wichita, Kansas-based company also supplies Airbus, and conversations around how to address non-Boeing customers are key to an acquisition deal.Calhoun said it is ""more than likely"" that the companies reach a deal during the second quarter.""Spirit, in working with its other customers, is taking actions to ensure that all of those relationships are what they need to be,"" he told CNBC. ""We're going to be patient and let them get their job done with their respective customers and we'll get a deal done.""— CNBC's Phil Lebeau contributed to this report.",CNBC,24/04/2024,"['In this articleBoeing on Wednesday reported a better-than-expected quarter but continued to burn cash as it tries to stabilize production following a near-catastrophic door blowout on a 737 Max earlier this year.', ""Boeing burned through $3.9 billion in the first quarter, beating a previous company forecast and Wall Street analysts' expectations for a cash burn of as much as $4.5 billion for the three-month period."", '""Near term, yes, we are in a tough moment,"" CEO Dave Calhoun, who announced in March that he would step down by year-end, said in a note to employees Wednesday. ""', 'Lower deliveries can be difficult for our customers and for our financials.', 'But safety and quality must and will come above all else.', 'We are absolutely committed to doing everything we can to make certain our regulators, customers, employees, and the flying public are 100 percent confident in Boeing.', '""Boeing has been hamstrung in ramping up production, especially of its bestselling 737 Max planes, and instead has lowered output.', 'After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing production.', ""The FAA also said it found numerous issues of noncompliance along Boeing's supply chain and on Feb. 28, gave Boeing 90 days to come up with a quality control improvement plan."", ""Calhoun reiterated Wednesday that the company's 737 Max production has dropped below 38 Max jets per month and the companysaid the rate would stay there for at least through the first half of the year."", 'Deliveries have slowed sharply this quarter.', 'Boeing earlier this week told staff that it expects slower production increases and deliveries of its 787 Dreamliners because of parts shortages.', ""Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes."", 'The company will have a ""sizable use of cash"" in the second quarter too, said CFO Brian West on an earnings call Wednesday.', 'Ratings agency Moody\'s on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. ""', ""As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve."", '""Boeing lost $355 million in the first quarter, or 56 cents a share, down from a $425 million, or 69 cent per-share, loss a year earlier.', 'Excluding one-time items, including pension costs, The company lost $388 million, or $1.13 a share.', ""Revenue fell 8% to $16.57 million, slightly ahead of analysts' estimates."", ""Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Calhoun on Wednesday stood by the company's goal of $10 billion in annual free cash flow in the 2025-2026 period, but said hitting that target would likely be delayed by about six months."", '""I believe it, I just do,"" Calhoun said of the $10 billion goal.', 'Boeing has been scrambling to reduce what is known as ""traveled work,"" when manufacturing steps occur out of order because of defects.', 'Calhoun told CNBC in an interview Wednesday that the company\'s fuselage maker Spirit AeroSystems will ""only ship a conforming fuselage.', '""Boeing has been in talks to buy back Spirit, which it spun off almost 20 years ago.', 'The Wichita, Kansas-based company also supplies Airbus, and conversations around how to address non-Boeing customers are key to an acquisition deal.', 'Calhoun said it is ""more than likely"" that the companies reach a deal during the second quarter.', '""Spirit, in working with its other customers, is taking actions to ensure that all of those relationships are what they need to be,"" he told CNBC. ""', 'We\'re going to be patient and let them get their job done with their respective customers and we\'ll get a deal done.""—', ""CNBC's Phil Lebeau contributed to this report.""]",0.0101127055458851,"As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.","Ratings agency Moody's on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. """,-0.3083933472633361,"As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.","Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes.",2024-04-26
-"Professional pickleball signs first international deal, looks to grow the sport in India",https://www.cnbc.com/2024/04/25/us-pro-pickleball-group-signs-first-international-deal-in-india.html,2024-04-25T19:41:55+0000,"America's fastest-growing sport, pickleball, is going after a new frontier: India.The United Pickleball Association and Global Sports announced a deal on Thursday to bring the PPA Tour and Major League Pickleball to the world's most populous country.It's the first international deal and major announcement for the United Pickleball Association, which was created after a merger between Major League Pickleball and the Professional Pickleball Association last February.The PPA Tour and Major League Pickleball retained their own distinct brands after the merger. The PPA Tour features an individual bracket-style tour, while MLP is a team-based format.Terms of the deal were not available.""The PPA Tour India and MLP India will create a pathway for players to compete on pickleball's biggest stage and reach the top of the sport. With the partnership of Global Sports, we will elevate the game and introduce it to millions of new fans,"" said Connor Pardoe, founder and CEO of the PPA Tour.As part of the partnership, the PPA Tour will make an official tour stop in India next February. The Indian Open event will be the debut PPA Tour event in Asia and is expected to bring players from all over the world to participate.The deal will also launch PPA Tour India, offering ranking points to players at events around the country.Major League Pickleball, the team-based league, will hold a competition in India featuring a mix of players from India, as well as MLP and PPA Tour professionals.United Pickleball Association said the group also plans to hold an open process to sell MLP franchises, with the goal of launching a full 12-team season in 2025-26.Franchises are expected to cost in the seven-figure range, according to sources.In September, Major League Pickleball announced its expansion into Australia.The APP Tour, which represents both amateurs and seniors, has also been active in bringing the sport overseas to India, the United Kingdom, Spain and Sweden.Global Sports, which was at the forefront of bringing pickleball to India, operates courts and organizes tournaments in India.""Pickleball in India has grown by leaps in the last couple of years, and this will give existing players a platform to compete at the highest level,"" said Shashank Khaitan, partner at Global Sports.",CNBC,25/04/2024,"[""America's fastest-growing sport, pickleball, is going after a new frontier: India."", ""The United Pickleball Association and Global Sports announced a deal on Thursday to bring the PPA Tour and Major League Pickleball to the world's most populous country."", ""It's the first international deal and major announcement for the United Pickleball Association, which was created after a merger between Major League Pickleball and the Professional Pickleball Association last February."", 'The PPA Tour and Major League Pickleball retained their own distinct brands after the merger.', 'The PPA Tour features an individual bracket-style tour, while MLP is a team-based format.', 'Terms of the deal were not available.', '""The PPA Tour India and MLP India will create a pathway for players to compete on pickleball\'s biggest stage and reach the top of the sport.', 'With the partnership of Global Sports, we will elevate the game and introduce it to millions of new fans,"" said Connor Pardoe, founder and CEO of the PPA Tour.', 'As part of the partnership, the PPA Tour will make an official tour stop in India next February.', 'The Indian Open event will be the debut PPA Tour event in Asia and is expected to bring players from all over the world to participate.', 'The deal will also launch PPA Tour India, offering ranking points to players at events around the country.', 'Major League Pickleball, the team-based league, will hold a competition in India featuring a mix of players from India, as well as MLP and PPA Tour professionals.', 'United Pickleball Association said the group also plans to hold an open process to sell MLP franchises, with the goal of launching a full 12-team season in 2025-26.Franchises are expected to cost in the seven-figure range, according to sources.', 'In September, Major League Pickleball announced its expansion into Australia.', 'The APP Tour, which represents both amateurs and seniors, has also been active in bringing the sport overseas to India, the United Kingdom, Spain and Sweden.', 'Global Sports, which was at the forefront of bringing pickleball to India, operates courts and organizes tournaments in India.', '""Pickleball in India has grown by leaps in the last couple of years, and this will give existing players a platform to compete at the highest level,"" said Shashank Khaitan, partner at Global Sports.']",0.1651015723437605,"The APP Tour, which represents both amateurs and seniors, has also been active in bringing the sport overseas to India, the United Kingdom, Spain and Sweden.","As part of the partnership, the PPA Tour will make an official tour stop in India next February.",0.9883124828338624,"""Pickleball in India has grown by leaps in the last couple of years, and this will give existing players a platform to compete at the highest level,"" said Shashank Khaitan, partner at Global Sports.",,2024-04-26
-"Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales",https://www.cnbc.com/2024/04/25/merck-mrk-earnings-q1-2024.html,2024-04-25T15:12:55+0000,"In this articleMerck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products.The pharmaceutical giant also raised and narrowed its full-year revenue and adjusted earnings forecasts. Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion. The company expects full-year adjusted earnings of $8.53 to $8.65 per share, up from its prior forecast of $8.44 to $8.59 per share. That outlook includes a one-time charge of roughly 26 cents per share related to Merck's acquisition of Harpoon Therapeutics in January. The company develops immune-based cancer drugs. The guidance also includes a negative impact of 30 cents per share from foreign exchange changes. Shares of Merck rose 4% on Thursday following the results.Here is what Merck reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The company posted a net income of $4.76 billion, or $1.87 per share, for the first quarter. That compares with a net income of $2.82 billion, or $1.11 per share, during the year-earlier period. Excluding acquisition and restructuring costs, Merck earned $2.07 per share for the first quarter. Both adjusted and nonadjusted profit for the period include the charge related to the Harpoon deal.Merck raked in $15.78 billion in revenue for the quarter, up 9% from the same period a year ago. Those results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028. The loss of exclusive rights to the drug will likely cause sales to fall, forcing the company to draw revenue from elsewhere.But Merck has a handful of new deals under its belt and key drug launches that will help it offset those losses. That includes Winrevair, a medication approved in the U.S. last month to treat a progressive and life-threatening lung condition. Some analysts expect that worldwide sales of Winrevair could reach $5 billion by 2030. Merck is seeing ""high interest"" in Winrevair from patient groups and a range of prescribers, and is making ""good progress"" in enabling access to the drug, Chief Financial Officer Caroline Litchfield said during an earnings call Thursday. Several payers have already established coverage policies for the drug, she noted.""We have confidence in a successful launch of Winrevair consistent with our prior expectations and look forward to providing updates on our progress,"" Litchfield said.Merck is also cutting costs under a new restructuring program it announced in February. Those efforts aim to improve the manufacturing network of both its pharmaceutical division and animal health business. The company recorded charges of $246 million related to restructuring in the first quarter, which are excluded from its adjusted results. Merck's pharmaceutical unit booked $14.01 billion in revenue during the first quarter, up 10% from the same period a year ago. That division develops a wide range of drugs for several disease areas, including oncology and infectious diseases. Merck's immunotherapy Keytruda, which is used to treat several types of cancer, largely drove the growth. Keytruda generated $6.95 billion in revenue during the quarter, up 20% from the year-earlier period. Analysts had been expecting $6.71 billion in Keytruda sales, according to estimates from FactSet. Litchfield said the growth reflects increased uptake in patients at the earliest stages of cancer, and continued demand to treat metastatic cancers, which refers to when the disease spreads to a different part of the body than where it started.Merck also reported a jump in sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.Gardasil brought in $2.25 billion in sales, up 14% from the first quarter of 2023. That is in line with the $2.24 billion that analysts expected, FactSet estimates said. Litchfield said the increase reflects strong demand, particularly in China.Another vaccine called Vaxneuvance, which prevents patients from getting sick with pneumococcal disease, also posted strong growth during the quarter. The shot recorded $219 million in sales, up 106% from the year-earlier period. Meanwhile, Merck's Type 2 diabetes treatment Januvia drew $670 million in sales, down 24% from the same period a year ago. The company said the decline was primarily due to lower prices of the drug, falling demand in the U.S. and generic competition in several international markets.Analysts had expected Januvia sales of $687.3 million, according to FactSet estimates.Januvia is one of 10 drugs targeted in ongoing Medicare drug price negotiations, a policy under the Inflation Reduction Act that aims to make costly medications more affordable for seniors.Sales of Merck's Covid antiviral pill Lagevrio also fell 11% to $350 million during the quarter. Still, that total blew past analysts' expectations of $106.4 million in sales, according to FactSet. Demand for Lagevrio and other Covid products from companies such as Pfizer and Moderna has plunged over the past year, as cases and public concern about the virus dwindled from their pandemic peaks.Merck's animal health division, which develops vaccines and medicines for dogs, cats and cattle, posted $1.51 billion in sales for the first quarter. That is up only 1% from the same period a year ago. In February, Merck said it would buy Elanco Animal Health's aquatic business for $1.3 billion in cash. The deal includes Elanco's entire portfolio of medicines, vaccines and supplements for aquatic species, along with two manufacturing plants and a research facility.",CNBC,25/04/2024,"['In this articleMerck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products.', 'The pharmaceutical giant also raised and narrowed its full-year revenue and adjusted earnings forecasts.', 'Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion.', 'The company expects full-year adjusted earnings of $8.53 to $8.65 per share, up from its prior forecast of $8.44 to $8.59 per share.', ""That outlook includes a one-time charge of roughly 26 cents per share related to Merck's acquisition of Harpoon Therapeutics in January."", 'The company develops immune-based cancer drugs.', 'The guidance also includes a negative impact of 30 cents per share from foreign exchange changes.', 'Shares of Merck rose 4% on Thursday following the results.', 'Here is what Merck reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The company posted a net income of $4.76 billion, or $1.87 per share, for the first quarter.', 'That compares with a net income of $2.82 billion, or $1.11 per share, during the year-earlier period.', 'Excluding acquisition and restructuring costs, Merck earned $2.07 per share for the first quarter.', 'Both adjusted and nonadjusted profit for the period include the charge related to the Harpoon deal.', 'Merck raked in $15.78 billion in revenue for the quarter, up 9% from the same period a year ago.', ""Those results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028."", 'The loss of exclusive rights to the drug will likely cause sales to fall, forcing the company to draw revenue from elsewhere.', 'But Merck has a handful of new deals under its belt and key drug launches that will help it offset those losses.', 'That includes Winrevair, a medication approved in the U.S. last month to treat a progressive and life-threatening lung condition.', 'Some analysts expect that worldwide sales of Winrevair could reach $5 billion by 2030.Merck is seeing ""high interest"" in Winrevair from patient groups and a range of prescribers, and is making ""good progress"" in enabling access to the drug, Chief Financial Officer Caroline Litchfield said during an earnings call Thursday.', 'Several payers have already established coverage policies for the drug, she noted.', '""We have confidence in a successful launch of Winrevair consistent with our prior expectations and look forward to providing updates on our progress,"" Litchfield said.', 'Merck is also cutting costs under a new restructuring program it announced in February.', 'Those efforts aim to improve the manufacturing network of both its pharmaceutical division and animal health business.', 'The company recorded charges of $246 million related to restructuring in the first quarter, which are excluded from its adjusted results.', ""Merck's pharmaceutical unit booked $14.01 billion in revenue during the first quarter, up 10% from the same period a year ago."", 'That division develops a wide range of drugs for several disease areas, including oncology and infectious diseases.', ""Merck's immunotherapy Keytruda, which is used to treat several types of cancer, largely drove the growth."", 'Keytruda generated $6.95 billion in revenue during the quarter, up 20% from the year-earlier period.', 'Analysts had been expecting $6.71 billion in Keytruda sales, according to estimates from FactSet.', 'Litchfield said the growth reflects increased uptake in patients at the earliest stages of cancer, and continued demand to treat metastatic cancers, which refers to when the disease spreads to a different part of the body than where it started.', 'Merck also reported a jump in sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.Gardasil brought in $2.25 billion in sales, up 14% from the first quarter of 2023.', 'That is in line with the $2.24 billion that analysts expected, FactSet estimates said.', 'Litchfield said the increase reflects strong demand, particularly in China.', 'Another vaccine called Vaxneuvance, which prevents patients from getting sick with pneumococcal disease, also posted strong growth during the quarter.', 'The shot recorded $219 million in sales, up 106% from the year-earlier period.', ""Meanwhile, Merck's Type 2 diabetes treatment Januvia drew $670 million in sales, down 24% from the same period a year ago."", 'The company said the decline was primarily due to lower prices of the drug, falling demand in the U.S. and generic competition in several international markets.', 'Analysts had expected Januvia sales of $687.3 million, according to FactSet estimates.', 'Januvia is one of 10 drugs targeted in ongoing Medicare drug price negotiations, a policy under the Inflation Reduction Act that aims to make costly medications more affordable for seniors.', ""Sales of Merck's Covid antiviral pill Lagevrio also fell 11% to $350 million during the quarter."", ""Still, that total blew past analysts' expectations of $106.4 million in sales, according to FactSet."", 'Demand for Lagevrio and other Covid products from companies such as Pfizer and Moderna has plunged over the past year, as cases and public concern about the virus dwindled from their pandemic peaks.', ""Merck's animal health division, which develops vaccines and medicines for dogs, cats and cattle, posted $1.51 billion in sales for the first quarter."", 'That is up only 1% from the same period a year ago.', ""In February, Merck said it would buy Elanco Animal Health's aquatic business for $1.3 billion in cash."", ""The deal includes Elanco's entire portfolio of medicines, vaccines and supplements for aquatic species, along with two manufacturing plants and a research facility.""]",0.0870368521989354,"""We have confidence in a successful launch of Winrevair consistent with our prior expectations and look forward to providing updates on our progress,"" Litchfield said.","Merck also reported a jump in sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.Gardasil brought in $2.25 billion in sales, up 14% from the first quarter of 2023.",0.6245327122283705,"Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion.",Sales of Merck's Covid antiviral pill Lagevrio also fell 11% to $350 million during the quarter.,2024-04-26
-"American Airlines swings to a loss, but tops estimates for Q2 forecast",https://www.cnbc.com/2024/04/25/american-airlines-aal-1q-2024-earnings.html,2024-04-25T14:31:32+0000,"In this articleAmerican Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates.American expects to earn between $1.15 and $1.45 per share in the second quarter, on an adjusted basis, largely above the $1.18 that analysts compiled by LSEG estimated on average. American reiterated its forecast to earn between $2.25 and $3.25 per share for the full year.""While we aren't satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,"" CEO Robert Isom said in an earnings release.American said it expects second-quarter capacity to be up 7% to 9%, and unit revenues to fall 1% to 3% from last year.Similar to Southwest, United and Alaska, American is affected by Boeing's latest quality control and safety crises. American will receive seven fewer aircraft from Boeing than it previously projected, Isom said, adding that he did not expect a material impact from the delays.""My message is Boeing hasn't changed since the last time we talked,"" Isom told CNBC in an interview. ""Get your act together. Deliver.""Here is how American performed in the first quarter compared with Wall Street estimates compiled by LSEG:American posted a loss of $312 million, or 48 cents per share, in the first quarter, compared with a profit of $10 million, or 2 cents per share, during the same period a year earlier. Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.Operating expenses rose nearly 7%, including an 18% rise in salaries and related costs.Revenue rose 3.1% to $12.57 billion.— CNBC's Phil LeBeau contributed to this report.",CNBC,25/04/2024,"[""In this articleAmerican Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates."", 'American expects to earn between $1.15 and $1.45 per share in the second quarter, on an adjusted basis, largely above the $1.18 that analysts compiled by LSEG estimated on average.', 'American reiterated its forecast to earn between $2.25 and $3.25 per share for the full year.', '""While we aren\'t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,"" CEO Robert Isom said in an earnings release.', 'American said it expects second-quarter capacity to be up 7% to 9%, and unit revenues to fall 1% to 3% from last year.', ""Similar to Southwest, United and Alaska, American is affected by Boeing's latest quality control and safety crises."", 'American will receive seven fewer aircraft from Boeing than it previously projected, Isom said, adding that he did not expect a material impact from the delays.', '""My message is Boeing hasn\'t changed since the last time we talked,"" Isom told CNBC in an interview. ""', 'Get your act together.', 'Deliver.', '""Here is how American performedin the first quartercompared with Wall Street estimates compiled by LSEG:American posted a loss of $312 million, or 48 cents per share, in the first quarter, compared with a profit of $10 million, or 2 cents per share, during the same period a year earlier.', 'Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.', 'Operating expenses rose nearly 7%, including an 18% rise in salaries and related costs.', 'Revenue rose 3.1% to $12.57 billion.—', ""CNBC's Phil LeBeau contributed to this report.""]",0.1568187498239613,"""While we aren't satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,"" CEO Robert Isom said in an earnings release.","In this articleAmerican Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates.",0.3057788718830455,Revenue rose 3.1% to $12.57 billion.—,"Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.",2024-04-26
-Ford tops first-quarter earnings estimates as commercial unit offsets EV losses,https://www.cnbc.com/2024/04/24/ford-f-earnings-q1-2024.html,2024-04-24T21:50:43+0000,"In this articleDETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter, offsetting losses of its electric vehicles.The company maintained its 2024 earnings guidance of adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion. It slightly lowered capital expenditure expectations and raised its adjusted free cash flow outlook for the year.The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion. Its forecast for capital expenditures is now $8 billion to $9 billion, narrower than the $8 billion to $9.5 billion range it originally estimated.Ford Chief Financial Officer John Lawler on Wednesday described the quarter as ""solid,"" with the company tracking to the higher end of its previously announced guidance.While the automaker beat earnings estimates, it slightly missed on automotive revenue. Here are the results for Ford's first quarter, compared with Wall Street expectations, according to LSEG:Ford's overall revenue for the first quarter, including its credit business, increased about 3% year over year to $42.78 billion.Net income for the period was $1.33 billion, or 33 cents per share, compared with $1.76 billion, or 44 cents, a year earlier. Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.Ford's traditional business, known as Ford Blue, reported adjusted earnings that were down 66% compared to a year earlier to $905 million. Its Ford Pro commercial business earned $3.01 billion, up 120% from the first quarter of last year. Ford's Model e electric vehicle unit posted a $1.32 billion loss from January through March.The notable decline in Ford Blue was related to the launch of the company's refreshed F-150 pickup, which it held shipments of during most of the quarter to address undisclosed quality issues.Ford CEO Jim Farley said the company avoided ""about 12 recalls"" thanks to the additional quality checks during the stop-shipment, helping to lower warranty costs for the company.""What we're going to see long-term is less recalls and lower warranty costs because of this new process,"" Farley said Wednesday during the company's first-quarter earnings call. ""I'm really proud of the team's progress and quality and we have so much more to do.""Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings. The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.Ford previously said it assembled 144,000 of the F-150 full-size and Ranger midsize pickups during the first quarter of the year. Those vehicles began shipping to dealers and customers earlier this month. Roughly 92% of the pickups built were F-150s.As part of its 2024 guidance, first released in February, Ford said it expected its EV business to lose between $5 billion and $5.5 billion this year. Ford Blue earnings were expected to be roughly flat at $7 billion to $7.5 billion for 2024, while Ford Pro was expected to come in around $8 billion to $9 billion for the full year.Lawler said Ford remains on track this year to take $2 billion in costs out of the business through reductions in things such as materials, freight and manufacturing. He said much of those savings will occur during the second half of the year.Ford's first-quarter earnings come a day after its crosstown rival General Motors reported strong first-quarter results and raised its full-year guidance.— CNBC's Michael Bloom contributed to this report.",CNBC,24/04/2024,"[""In this articleDETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter, offsetting losses of its electric vehicles."", 'The company maintained its 2024 earnings guidance of adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion.', 'It slightly lowered capital expenditure expectations and raised its adjusted free cash flow outlook for the year.', 'The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion.', 'Its forecast for capital expenditures is now $8 billion to $9 billion, narrower than the $8 billion to $9.5 billion range it originally estimated.', 'Ford Chief Financial Officer John Lawler on Wednesday described the quarter as ""solid,"" with the company tracking to the higher end of its previously announced guidance.', 'While the automaker beat earnings estimates, it slightly missed on automotive revenue.', ""Here are the results for Ford's first quarter, compared with Wall Street expectations, according to LSEG:Ford's overall revenue for the first quarter, including its credit business, increased about 3% year over year to $42.78 billion."", 'Net income for the period was $1.33 billion, or 33 cents per share, compared with $1.76 billion, or 44 cents, a year earlier.', 'Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.', ""Ford's traditional business, known as Ford Blue, reported adjusted earnings that were down 66% compared to a year earlier to $905 million."", 'Its Ford Pro commercial business earned $3.01 billion, up 120% from the first quarter of last year.', ""Ford's Model e electric vehicle unit posted a $1.32 billion loss from January through March."", ""The notable decline in Ford Blue was related to the launch of the company's refreshed F-150 pickup, which it held shipments of during most of the quarter to address undisclosed quality issues."", 'Ford CEO Jim Farley said the company avoided ""about 12 recalls"" thanks to the additional quality checks during the stop-shipment, helping to lower warranty costs for the company.', '""What we\'re going to see long-term is less recalls and lower warranty costs because of this new process,"" Farley said Wednesday during the company\'s first-quarter earnings call. ""', ""I'm really proud of the team's progress and quality and we have so much more to do."", '""Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.', 'The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.', 'Ford previously said it assembled 144,000 of the F-150 full-size and Ranger midsize pickups during the first quarter of the year.', 'Those vehicles began shipping to dealers and customers earlier this month.', 'Roughly 92% ofthe pickups builtwere F-150s.', 'As part of its 2024 guidance, first released in February, Ford said it expected its EV business to lose between $5 billion and $5.5 billion this year.', 'Ford Blue earnings were expected to be roughly flat at $7 billion to $7.5 billion for 2024, while Ford Pro was expected to come in around $8 billion to $9 billion for the full year.', 'Lawler said Ford remains on track this year to take $2 billion in costs out of the business through reductions in things such as materials, freight and manufacturing.', 'He said much of those savings will occur during the second half of the year.', ""Ford's first-quarter earnings come a day after its crosstown rival General Motors reported strong first-quarter results and raised its full-year guidance.—"", ""CNBC's Michael Bloom contributed to this report.""]",0.0596242489508853,I'm really proud of the team's progress and quality and we have so much more to do.,"The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.",0.0452342525772426,"The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion.","Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.",2024-04-26
-Markets fall as investors worry about low economic growth and stubborn inflation rates,https://edition.cnn.com/2024/04/25/markets/wall-street-reaction-gdp-report/index.html,"
-  Updated
-        4:03 PM EDT, Thu April 25, 2024
-    ","US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.
-    
-            The Dow fell by 375 points, or 1%; the S&P 500 was down 0.5% and the Nasdaq Composite slid by 0.6%, as investors projected a longer wait for the first rate cut from the Federal Reserve.
-    
-            “This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.
-    
-            Economic growth appears to be floating back down to earth after notching a very strong second half of 2023. GDP grew by 4.9% and 3.4% in the third and fourth quarters of last year.
-    
-            At the same time, Thursday’s data showed that inflation accelerated in the first three months of the year: The annualized GDP chain price, which measures how much prices have gone up or down in the economy, helping to track inflation, jumped from 1.6% up to 3.1%.
-    
-            “The Fed wants to see inflation start coming down in a persistent manner, but the market wants to see economic growth and corporate profits increasing, so if neither are headed in the right direction then that’s going to be bad news for markets,” wrote Zaccarelli.
-    
-            Those sticky inflation rates have pushed investors to slash their expectations for interest rate cuts by the Fed. They’re now anticipating just one cut this year, according to the CME FedWatch tool. That’s down from an expectation for six at the beginning of the year.
-    
-            It’s also brought back fears of stagflation — when the economy stops growing but inflation persists.
-    
-            In a talk at the Economic Club of New York on Tuesday, JPMorgan Chase CEO Jamie Dimon warned investors about a potential period of stagflation.
-    
-            “Stagflation has the negative effect of no growth and inflation. That hurts profits and consumers and jobs. And yes, I think there’s a chance that could happen again,” he said. “I worry that it looks more like the 1970s than we’ve seen before.”
-    
-            Between 1966 and 1981, a period encompassing much of the stagflation era, investors in the US stock market lost more than 35% after adjusting for inflation, according to analysis by Ben Carlson at Ritholtz Wealth Management.
-    
-            Tech stocks also tumbled Thursday as investors worried that a slowing economy could hurt their growth prospects, in an already tense earnings season.
-    
-            Shares of Meta closed 10.5% lower. Microsoft fell by 2.5% and shares of Amazon were down 1.7%.",CNN,25/04/2024,"['US stocks closed lower Thursday after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.', 'The Dow fell by 375 points, or 1%; the S&P 500 was down 0.5% and the Nasdaq Composite slid by 0.6%, as investors projected a longer wait for the first rate cut from the Federal Reserve.', '“This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.', 'Economic growth appears to be floating back down to earth after notching a very strong second half of 2023.', 'GDP grew by 4.9% and 3.4% in the third and fourth quarters of last year.', 'At the same time, Thursday’s data showed that inflation accelerated in the first three months of the year: The annualized GDP chain price, which measures how much prices have gone up or down in the economy, helping to track inflation, jumped from 1.6% up to 3.1%.', '“The Fed wants to see inflation start coming down in a persistent manner, but the market wants to see economic growth and corporate profits increasing, so if neither are headed in the right direction then that’s going to be bad news for markets,” wrote Zaccarelli.', 'Those sticky inflation rates have pushed investors to slash their expectations for interest rate cuts by the Fed.', 'They’re now anticipating just one cut this year, according to the CME FedWatch tool.', 'That’s down from an expectation for six at the beginning of the year.', 'It’s also brought back fears of stagflation — when the economy stops growing but inflation persists.', 'In a talk at the Economic Club of New York on Tuesday, JPMorgan Chase CEO Jamie Dimon warned investors about a potential period of stagflation.', '“Stagflation has the negative effect of no growth and inflation.', 'That hurts profits and consumers and jobs.', 'And yes, I think there’s a chance that could happen again,” he said. “', 'I worry that it looks more like the 1970s than we’ve seen before.”', 'Between 1966 and 1981, a period encompassing much of the stagflation era, investors in the US stock market lost more than 35% after adjusting for inflation, according to analysis by Ben Carlson at Ritholtz Wealth Management.', 'Tech stocks also tumbled Thursday as investors worried that a slowing economy could hurt their growth prospects, in an already tense earnings season.', 'Shares of Meta closed 10.5% lower.', 'Microsoft fell by 2.5% and shares of Amazon were down 1.7%.']",-0.0255808673279173,Economic growth appears to be floating back down to earth after notching a very strong second half of 2023.,"“This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.",-0.5407485996975618,"At the same time, Thursday’s data showed that inflation accelerated in the first three months of the year: The annualized GDP chain price, which measures how much prices have gone up or down in the economy, helping to track inflation, jumped from 1.6% up to 3.1%.","Tech stocks also tumbled Thursday as investors worried that a slowing economy could hurt their growth prospects, in an already tense earnings season.",2024-04-26
-Spotify turns up volume to make record profits,https://www.bbc.co.uk/news/business-68884501,2024-04-23T23:18:55.000Z,"Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff.  The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.  But its quarterly gross profit came at the expense of missing its forecast for monthly active users. Last year it cut 17% of its workforce in a move to clamp down on costs. Spotify's CEO Daniel Ek said last December about 1,500 jobs would be axed as part of ""substantial action to rightsize our costs"" so that the company could meet its objectives.  But the tech company has been on a mission expand worldwide and reach a billion users by 2030.  On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences.  ""We are going to add back some marketing spend over the year,"" Mr Ek said. ""Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much."" Much of Spotify's profits were driven by its podcast business. Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.  It invested over a billion euros to build up its podcast business, including spending hundreds of millions for popular shows such as the ""The Joe Rogan Experience"". ""It [podcasting] was a drag last year. Now it is another profit centre for us,"" Mr Ek said. The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn.  Spotify has raised prices to boost revenue and experimented with different subscription plans. The streaming service would also provide a music-only tier for ""those consumers that only care about the music side"", the firm's CEO said.  Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter. It aims to have 631 million midway through the year.  However, the number of premium subscribers rose by 14% in the first quarter to 239 million, in line with estimates. Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday. Since it launched in 2006, Spotify has invested a huge amount of money growing the business, and in securing exclusive content.  Podcasts created by Michelle and Barack Obama, as well as the Duke and Duchess of Sussex, have all featured on the platform. The deal with Harry and Meghan cost a reported $25m (£19.7m) and saw just 12 episodes delivered over two-and-a-half years before the deal ended last June. ",BBC,23/04/2024,"['Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff.', 'The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.', 'But its quarterly gross profit came at the expense of missing its forecast for monthly active users.', 'Last year it cut 17% of its workforce in a move to clamp down on costs.', 'Spotify\'s CEO Daniel Ek said last December about 1,500 jobs would be axed as part of ""substantial action to rightsize our costs"" so that the company could meet its objectives.', 'But the tech company has been on a mission expand worldwide and reach a billion users by 2030.', 'On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. ""', 'We are going to add back some marketing spend over the year,"" Mr Ek said. ""', 'Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much.""', ""Much of Spotify's profits were driven by its podcast business."", 'Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.', 'It invested over a billion euros to build up its podcast business, including spending hundreds of millions for popular shows such as the ""The Joe Rogan Experience"". ""', 'It [podcasting] was a drag last year.', 'Now it is another profit centre for us,"" Mr Ek said.', ""The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn."", 'Spotify has raised prices to boost revenue and experimented with different subscription plans.', 'The streaming service would also provide a music-only tier for ""those consumers that only care about the music side"", the firm\'s CEO said.', 'Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter.', 'It aims to have 631 million midway through the year.', 'However, the number of premium subscribers rose by 14% in the first quarter to 239 million, in line with estimates.', 'Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday.', 'Since it launched in 2006, Spotify has invested a huge amount of money growing the business, and in securing exclusive content.', 'Podcasts created by Michelle and Barack Obama, as well as the Duke and Duchess of Sussex, have all featured on the platform.', 'The deal with Harry and Meghan cost a reported $25m (£19.7m) and saw just 12 episodes delivered over two-and-a-half years before the deal ended last June.']",0.1906110485978383,"On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. ""","Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.",0.2569666728377342,"The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn.","Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter.",2024-04-26
-"CEOs of OpenAI, Google and Microsoft to join other tech leaders on federal AI safety panel",https://edition.cnn.com/2024/04/26/tech/openai-altman-government-ai-safety-panel/index.html,"
-  Updated
-        11:54 AM EDT, Fri April 26, 2024
-    ","The US government has asked leading artificial intelligence companies for advice on how to use the technology they are creating to defend airlines, utilities and other critical infrastructure, particularly from AI-powered attacks.
-    
-            The Department of Homeland Security said Friday that the panel it’s creating will include CEOs from some of the world’s largest companies and industries.
-    
-            The list includes Google chief executive Sundar Pichai, Microsoft chief executive Satya Nadella and OpenAI chief executive Sam Altman, but also the head of defense contractors such as Northrop Grumman and air carrier Delta Air Lines.
-    
-            The move reflects the US government’s close collaboration with the private sector as it scrambles to address both the risks and benefits of AI in the absence of a targeted national AI law.
-    
-            The collection of experts will make recommendations to telecommunications companies, pipeline operators, electric utilities and other sectors about how they can “responsibly” use AI, DHS said. The group will also help prepare those sectors for “AI-related disruptions.”
-    
-            “Artificial intelligence is a transformative technology that can advance our national interests in unprecedented ways,” said DHS Secretary Alejandro Mayorkas, in a release. “At the same time, it presents real risks — risks that we can mitigate by adopting best practices and taking other studied, concrete actions.”
-    
-            Among the panel’s other participants are the CEOs of technology providers such as Amazon Web Services, IBM and Cisco; chipmakers such as AMD; AI model developers such as Anthropic; and civil rights groups such as the Lawyers’ Committee for Civil Rights Under Law.
-    
-            It also includes federal, state and local government officials, as well as leading academics in AI such as Fei-Fei Li, co-director of Stanford University’s Human-centered Artificial Intelligence Institute.
-    
-            The 22-member AI Safety and Security Board is an outgrowth of a 2023 executive order signed by President Joe Biden, who called for a cross-industry body to make “recommendations for improving security, resilience, and incident response related to AI usage in critical infrastructure.”
-    
-            That same executive order also led this year to government-wide rules regulating how federal agencies can purchase and use AI in their own systems. The US government already uses machine learning or artificial intelligence for more than 200 distinct purposes, such as monitoring volcano activity, tracking wildfires and identifying wildlife from satellite imagery.
-    
-            Meanwhile, deepfake audio and video, which use AI to push fake content, have emerged as a key concern for US officials trying to protect the 2024 US election from rampant mis- and disinformation. A fake robocall in January imitating Biden’s voice urged Democrats not to vote in New Hampshire’s primary, sounding alarms among US officials focused on election security. A New Orleans magician told CNN that a Democratic political consultant hired him to make the robocall. But there is concern that foreign adversaries like Russia, China or Iran could exploit the same technology.
-    
-            “It is a risk that is real,” Mayorkas told reporters on Friday while discussing the AI advisory board. “We are seeing adverse nation-states engaged and we work to counter their efforts to unduly influence our elections.”",CNN,26/04/2024,"['The US government has asked leading artificial intelligence companies for advice on how to use the technology they are creating to defend airlines, utilities and other critical infrastructure, particularly from AI-powered attacks.', 'The Department of Homeland Security said Friday that the panel it’s creating will include CEOs from some of the world’s largest companies and industries.', 'The list includes Google chief executive Sundar Pichai, Microsoft chief executive Satya Nadella and OpenAI chief executive Sam Altman, but also the head of defense contractors such as Northrop Grumman and air carrier Delta Air Lines.', 'The move reflects the US government’s close collaboration with the private sector as it scrambles to address both the risks and benefits of AI in the absence of a targeted national AI law.', 'The collection of experts will make recommendations to telecommunications companies, pipeline operators, electric utilities and other sectors about how they can “responsibly” use AI, DHS said.', 'The group will also help prepare those sectors for “AI-related disruptions.”', '“Artificial intelligence is a transformative technology that can advance our national interests in unprecedented ways,” said DHS Secretary Alejandro Mayorkas, in a release. “', 'At the same time, it presents real risks — risks that we can mitigate by adopting best practices and taking other studied, concrete actions.”', 'Among the panel’s other participants are the CEOs of technology providers such as Amazon Web Services, IBM and Cisco; chipmakers such as AMD; AI model developers such as Anthropic; and civil rights groups such as the Lawyers’ Committee for Civil Rights Under Law.', 'It also includes federal, state and local government officials, as well as leading academics in AI such as Fei-Fei Li, co-director of Stanford University’s Human-centered Artificial Intelligence Institute.', 'The 22-member AI Safety and Security Board is an outgrowth of a 2023 executive order signed by President Joe Biden, who called for a cross-industry body to make “recommendations for improving security, resilience, and incident response related to AI usage in critical infrastructure.”', 'That same executive order also led this year to government-wide rules regulating how federal agencies can purchase and use AI in their own systems.', 'The US government already uses machine learning or artificial intelligence for more than 200 distinct purposes, such as monitoring volcano activity, tracking wildfires and identifying wildlife from satellite imagery.', 'Meanwhile, deepfake audio and video, which use AI to push fake content, have emerged as a key concern for US officials trying to protect the 2024 US election from rampant mis- and disinformation.', 'A fake robocall in January imitating Biden’s voice urged Democrats not to vote in New Hampshire’s primary,sounding alarmsamong US officials focused on election security.', 'A New Orleans magiciantold CNNthat a Democratic political consultant hired him to make the robocall.', 'But there is concern that foreign adversaries like Russia, China or Iran could exploit the same technology.', '“It is a risk that is real,” Mayorkas told reporters on Friday while discussing the AI advisory board. “', 'We are seeing adverse nation-states engaged and we work to counter their efforts to unduly influence our elections.”']",0.2029832499577865,"The 22-member AI Safety and Security Board is an outgrowth of a 2023 executive order signed by President Joe Biden, who called for a cross-industry body to make “recommendations for improving security, resilience, and incident response related to AI usage in critical infrastructure.”","“It is a risk that is real,” Mayorkas told reporters on Friday while discussing the AI advisory board. “",-0.4111486226320267,"“Artificial intelligence is a transformative technology that can advance our national interests in unprecedented ways,” said DHS Secretary Alejandro Mayorkas, in a release. “","At the same time, it presents real risks — risks that we can mitigate by adopting best practices and taking other studied, concrete actions.”",2024-04-26
-E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV,https://www.cnbc.com/2024/04/23/ew-scripps-exploring-sale-of-black-culture-broadcast-network-bounce-tv.html,2024-04-23T20:06:23+0000,"In this articleE.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell. Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview. If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.E.W. Scripps trades for about $3.70 per share at a market valuation of roughly $315 million. The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.Symson declined to comment on the names of the bidders or the potential price for Bounce TV. People familiar with the process said a deal could happen around mid-year or the third quarter.""The number of inbounds and conversations that we have had with interested and qualified potential suitors has picked up significantly over the last year,"" Symson said. ""The earlier BET process, which was never consummated, may have opened up people's eyes to the power of Bounce.""Some advertising agencies and big brands earmark some spending specifically for minority-controlled businesses, Symson said, which can increase the value of media assets if they're sold from conglomerates to Black owners. He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators.Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications.Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content. All content is geared to African American audiences. Bounce TV's ""Johnson,"" a dramedy created by Deji LaRay, is entering its fourth season. The network is also launching a new comedy series, ""Mind Your Business,"" that premieres June 1.Ratings for Bounce TV have improved in recent years, even as legacy media has struggled. In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said. About 70% of Bounce TV's audience is over the air. The other 30% is derived through pay TV and streaming, he said.While Symson declined to give specifics about Bounce TV's finances, he said the company has doubled the network's revenue since acquiring it as part of the takeover of Katz Networks for $302 million in 2017.  Scripps operates a portfolio of more than 60 stations in more than 40 U.S. markets.",CNBC,23/04/2024,"['In this articleE.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.', 'The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell.', 'Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview.', 'If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.', 'E.W. Scripps trades for about $3.70 per share at a market valuation of roughly $315 million.', 'The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.', 'Symson declined to comment on the names of the bidders or the potential price for Bounce TV.', 'People familiar with the process said a deal could happen around mid-year or the third quarter.', '""The number of inbounds and conversations that we have had with interested and qualified potential suitors has picked up significantly over the last year,"" Symson said. ""', ""The earlier BET process, which was never consummated, may have opened up people's eyes to the power of Bounce."", '""Some advertising agencies and big brands earmark some spending specifically for minority-controlled businesses, Symson said, which can increase the value of media assets if they\'re sold from conglomerates to Black owners.', 'He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators.', 'Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications.', 'Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content.', 'All content is geared to African American audiences.', 'Bounce TV\'s ""Johnson,"" a dramedy created by Deji LaRay, is entering its fourth season.', 'The network is also launching a new comedy series, ""Mind Your Business,"" that premieres June 1.Ratings for Bounce TV have improved in recent years, even as legacy media has struggled.', 'In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said.', ""About 70% of Bounce TV's audience is over the air."", 'The other 30% is derived through pay TV and streaming, he said.', ""While Symson declined to give specifics about Bounce TV's finances, he said the company has doubled the network's revenue since acquiring it as part of the takeover of Katz Networks for $302 million in 2017."", 'Scripps operates a portfolio of more than 60 stations in more than 40 U.S. markets.']",0.2397046910172554,"Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview.",,0.6905460804700851,"In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said.",The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.,2024-04-26
-It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion,"
-  
-        11:21 AM EST, Wed February 14, 2024
-    ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point.
-    
-            Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower.
-    
-            This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.
-    
-            With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon.
-    
-            To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.
-    
-            Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.
-    
-            Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.
-    
-            But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.
-    
-            If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible.
-    
-            But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.
-    
-            When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel.
-    
-            However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer.
-    
-            To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.
-    
-            Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer.
-    
-            Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment.
-    
-            With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.
-    
-            Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.
-    
-            Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.
-    
-            Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.
-    
-            Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.
-    
-            Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points.,-0.0578339397907257,"Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.",But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.,2024-04-26
-Australia is taking on ‘arrogant billionaire’ Elon Musk over violent images on X,https://edition.cnn.com/2024/04/24/media/australia-elon-musk-x-sydney-church-stabbing-hnk-intl/index.html,"
-  Updated
-        11:59 PM EDT, Thu April 25, 2024
-    ","In one camp is a tech billionaire with more than 181 million followers on his own social network. In the other, political leaders representing a country of just 26 million people.
-    
-            Insults have been hurled for days by both sides in an increasingly bare-knuckled fight between X owner Elon Musk and the Australian government that’s playing out both online and in the Federal Court.
-    
-            At issue is the right of X to publish a video showing the moment a 16-year-old allegedly stabbed a bishop in an Orthodox Christian Church in Sydney earlier this month.
-    
-            Australian authorities say the clips threw fuel on a riot that erupted outside the church after the attack and shouldn’t be available for general viewing on a global platform, where it could be used to radicalize potential offenders.
-    
-            The country’s eSafety commissioner ordered social media giants to take it down.
-    
-            Most complied, but X didn’t go far enough, according to the commissioner.
-    
-            Australia wants X to remove the video completely, not just hide it from Australian users who could circumvent a local ban by using virtual private networks.
-    
-            X says that’s an assault on free speech.
-    
-            “Our concern is that if ANY country is allowed to censor content for ALL countries, which is what the Australian ‘eSafety Commissar’ is demanding, then what is to stop any country from controlling the entire Internet? Musk posted on X.
-    
-            Australian Prime Minister Anthony Albanese on Tuesday labelled Musk an “arrogant billionaire who thinks he’s above the law, but also above common decency.”
-    
-            After deleting her X account and urging other politicians to do the same, Jacqui Lambie, a straight-talking senator and former soldier from Tasmania, posted an image of herself on Facebook dressed in army fatigues with a message to Musk to “put his big boy pants on and do the right thing.”
-    
-            The post dropped around midnight in the United States, and as of writing, the X boss hadn’t responded. Though her previous calls on national television for Musk to be jailed resulted in him branding her “an enemy of the people of Australia.”
-    
-            X did not reply to a request for comment.
-    
-            On Wednesday, more than a week after the attack, the video was still available to view on the X account of the Australian Jewish Association (AJA). President David Adler told CNN he hadn’t been asked to take it down, either by X or Australia’s eSafety commissioner.
-    
-            Adler said the AJA received an email from X saying Australian authorities had contacted the company with a takedown request, noting the video “violates the law(s) of Australia.”
-    
-            According to the email, seen by CNN, X said: “We want you to have an opportunity to evaluate the request and, if you wish, take appropriate action to protect your interests.”
-    
-            The AJA hasn’t taken the video down, because Adler believes it’s important for people to see.
-    
-            “The reason we did that is because security issues are of critical interest to the Jewish community,” said Adler. “Politicians are not adequately taking the risks of extremism seriously enough. And one of the benefits of showing exactly what happened is a public awakening. Politicians often won’t act without public pressure and there needs to be a bit of an awakening about the risk.”
-    
-            The eSafety office told CNN it doesn’t have the power to compel posters to take down their content, but it does require platforms to do “everything practical and reasonable” to minimize any harm caused to the community.
-    
-            On Wednesday, the risks of extremism became apparent with a series of raids at 13 locations in Sydney by the Joint Counter Terrorism Team related to the church attack.
-    
-            Seven youths, age 15 to 17, were arrested and another five were helping police with their inquiries, Australian Federal Police (AFP) Deputy Commissioner Krissy Barrett told a news conference.
-    
-            “We identified links between the alleged offender and a network of associates and peers who we believe shared a similar violent extremist ideology,” she said. “At this time, we have no evidence of specific locations, times or targets of a violent act.”
-    
-            The arrests came as the heads of the AFP and Australia’s Security Intelligence Organisation (ASIO) gave a joint address to the National Press Club warning that the risks are extreme — and urging social media companies to work with police against forces seeking to radicalize children.
-    
-            “Some of our children and other vulnerable people are being bewitched online by a cauldron of extremist poison on the open and dark web. And that’s one serious problem. The other is that the very nature of social media allows that extremist poison to spray across the globe almost instantaneously,” said AFP Commissioner Reece Kershaw.
-    
-            Musk’s refusal to take down the videos resulted in Australia’s e-safety commissioner taking legal action on X to act or risk fines of up to 782,500 Australian dollars ($508,000) for each day of non-compliance.
-    
-            On Wednesday, the parties were back in the Federal Court in Sydney, where X lawyer Marcus Hoyne made clear that the social media platform hadn’t changed its position and would fight what he called the commissioner’s attempted reach over an “exorbitant jurisdiction.”
-    
-            He said X would file an affidavit from Bishop Mar Mari Emmanuel, the cleric who was stabbed multiple times during the church attack, “stating that he is strongly of the view that the material should be available.”
-    
-            Christ The Good Shepherd Church, where the attack happened, declined to comment when contacted by CNN.
-    
-            Joanne Gray, a lecturer in digital cultures at the University of Sydney, said the eSafety commissioner’s attempt to extend the takedown orders beyond Australia’s borders was not an overreach.
-    
-            “There’s a long history of platforms working with policymakers and civil society and different groups to moderate content, and Musk’s position is a deviation from that,” she told CNN.
-    
-            Gray said taking down harmful material in the jurisdiction where it was published typically limits its spread and any potential harm caused, though conceded the system isn’t perfect.
-    
-            Gray said Musk was trying to apply his stated belief in free speech absolutism to Australia, not to set a precedent for other platforms to follow.
-    
-            “It’s extremely problematic that any individual has control over a communication platform that has the potential to reach a global audience in a way that is unaccountable,” she said.
-    
-            Musk’s fight with the Australian government is one of many the billionaire is waging against authorities he accuses of imposing limits on free speech.
-    
-            Since Musk bought X, formerly known as Twitter, in 2022, he has stripped back its content moderation and reinstated some previously blocked accounts, earning him strong support from loyal followers.
-    
-            In a statement Wednesday, Australia’s eSafety commissioner said the takedown request wasn’t designed to stifle discussion about the church attack.
-    
-            “The removal notice given to X Corp does not relate to commentary, public debate or other posts about this event, even those which may link to extreme violent content. It only concerns the video of the violent stabbing attack,” it said.
-    
-            Musk’s supporters have applauded the billionaire’s stance in Australia and taken aim at his critics.
-    
-            Lambie’s office confirmed there had been an increase in the trolling of her Facebook account, and Wednesday’s post was closed for comments in order to discourage more.
-    
-            The court granted a further injunction requiring X to hide the violent material until May 10, when all parties will return to court.
-    
-            This story has been updated with additional information.",CNN,25/04/2024,"['In one camp is a tech billionaire with more than 181 million followers on his own social network.', 'In the other, political leaders representing a country of just 26 million people.', 'Insults have been hurled for days by both sides in an increasingly bare-knuckled fight between X owner Elon Musk and the Australian government that’s playing out both online and in the Federal Court.', 'At issue is the right of X to publish a video showing the moment a 16-year-old allegedly stabbed a bishop in an Orthodox Christian Church in Sydney earlier this month.', 'Australian authorities say the clips threw fuel on a riot that erupted outside the church after the attack and shouldn’t be available for general viewing on a global platform, where it could be used to radicalize potential offenders.', 'The country’s eSafety commissioner ordered social media giants to take it down.', 'Most complied, but X didn’t go far enough, according to the commissioner.', 'Australia wants X to remove the video completely, not just hide it from Australian users who could circumvent a local ban by using virtual private networks.', 'X says that’s an assault on free speech.', '“Our concern is that if ANY country is allowed to censor content for ALL countries, which is what the Australian ‘eSafety Commissar’ is demanding, then what is to stop any country from controlling the entire Internet?', 'Musk posted on X.  Australian Prime Minister Anthony Albanese on Tuesday labelled Musk an “arrogant billionaire who thinks he’s above the law, but also above common decency.”', 'After deleting her X account and urging other politicians to do the same, Jacqui Lambie, a straight-talking senator and former soldier from Tasmania, posted an image of herself on Facebook dressed in army fatigues with a message to Musk to “put his big boy pants on and do the right thing.”', 'The post dropped around midnight in the United States, and as of writing, the X boss hadn’t responded.', 'Though her previous calls on national television for Musk to be jailed resulted in him branding her “an enemy of the people of Australia.”', 'X did not reply to a request for comment.', 'On Wednesday, more than a week after the attack, the video was still available to view on the X account of theAustralian Jewish Association (AJA).', 'President David Adler told CNN he hadn’t been asked to take it down, either by X or Australia’s eSafety commissioner.', 'Adler said the AJA received an email from X saying Australian authorities had contacted the company with a takedown request, noting the video “violates the law(s) of Australia.”', 'According to the email, seen by CNN, X said: “We want you to have an opportunity to evaluate the request and, if you wish, take appropriate action to protect your interests.”', 'The AJA hasn’t taken the video down, because Adler believes it’s important for people to see.', '“The reason we did that is because security issues are of critical interest to the Jewish community,” said Adler. “', 'Politicians are not adequately taking the risks of extremism seriously enough.', 'And one of the benefits of showing exactly what happened is a public awakening.', 'Politicians often won’t act without public pressure and there needs to be a bit of an awakening about the risk.”', 'The eSafety office told CNN it doesn’t have the power to compel posters to take down their content, but it does require platforms to do “everything practical and reasonable” to minimize any harm caused to the community.', 'On Wednesday, the risks of extremism became apparent with a series of raids at 13 locations in Sydney by the Joint Counter Terrorism Team related to the church attack.', 'Seven youths, age 15 to 17, were arrested and another five were helping police with their inquiries, Australian Federal Police (AFP) Deputy Commissioner Krissy Barrett told a news conference.', '“We identified links between the alleged offender and a network of associates and peers who we believe shared a similar violent extremist ideology,” she said. “', 'At this time, we have no evidence of specific locations, times or targets of a violent act.”', 'The arrests came as the heads of the AFP and Australia’s Security Intelligence Organisation (ASIO) gave a joint address to the National Press Club warning that the risks are extreme — and urging social media companies to work with police against forces seeking to radicalize children.', '“Some of our children and other vulnerable people are being bewitched online by a cauldron of extremist poison on the open and dark web.', 'And that’s one serious problem.', 'The other is that the very nature of social media allows that extremist poison to spray across the globe almost instantaneously,” said AFP Commissioner Reece Kershaw.', 'Musk’s refusal to take down the videos resulted in Australia’s e-safety commissioner taking legal action on X to act or risk fines of up to 782,500 Australian dollars ($508,000) for each day of non-compliance.', 'On Wednesday, the parties were back in the Federal Court in Sydney, where X lawyer Marcus Hoynemade clear that the social media platform hadn’t changed its position and would fight what he called the commissioner’s attempted reach over an “exorbitant jurisdiction.”', 'He said X would file an affidavit from Bishop Mar Mari Emmanuel, the cleric who was stabbed multiple times during the church attack, “stating that he is strongly of the view that the material should be available.”', 'Christ The Good Shepherd Church, where the attack happened, declined to comment when contacted by CNN.', 'Joanne Gray, a lecturer in digital cultures at the University of Sydney, said the eSafety commissioner’s attempt to extend the takedown orders beyond Australia’s borders was not an overreach.', '“There’s a long history of platforms working with policymakers and civil society and different groups to moderate content, and Musk’s position is a deviation from that,” she told CNN.', 'Gray said taking down harmful material in the jurisdiction where it was published typically limits its spread and any potential harm caused, though conceded the system isn’t perfect.', 'Gray said Musk was trying to apply his stated belief in free speech absolutism to Australia, not to set a precedent for other platforms to follow.', '“It’s extremely problematic that any individual has control over a communication platform that has the potential to reach a global audience in a way that is unaccountable,” she said.', 'Musk’s fight with the Australian government is one of many the billionaire is waging against authorities he accuses of imposing limits on free speech.', 'Since Musk bought X, formerly known as Twitter, in 2022, he has stripped back its content moderation and reinstated some previously blocked accounts, earning him strong support from loyal followers.', 'In a statement Wednesday, Australia’s eSafety commissioner said the takedown request wasn’t designed to stifle discussion about the church attack.', '“The removal notice given to X Corp does not relate to commentary, public debate or other posts about this event, even those which may link to extreme violent content.', 'It only concerns the video of the violent stabbing attack,” it said.', 'Musk’s supporters have applauded the billionaire’s stance in Australia and taken aim at his critics.', 'Lambie’s office confirmed there had been an increase in the trolling of her Facebook account, and Wednesday’s post was closed for comments in order to discourage more.', 'The court granted a further injunction requiring X to hide the violent material until May 10, when all parties will return to court.', 'This story has been updated with additional information.']",-0.1839318587557732,"According to the email, seen by CNN, X said: “We want you to have an opportunity to evaluate the request and, if you wish, take appropriate action to protect your interests.”","On Wednesday, the risks of extremism became apparent with a series of raids at 13 locations in Sydney by the Joint Counter Terrorism Team related to the church attack.",-0.1259015032223292,"Since Musk bought X, formerly known as Twitter, in 2022, he has stripped back its content moderation and reinstated some previously blocked accounts, earning him strong support from loyal followers.","Musk’s refusal to take down the videos resulted in Australia’s e-safety commissioner taking legal action on X to act or risk fines of up to 782,500 Australian dollars ($508,000) for each day of non-compliance.",2024-04-26
-Post Office boss Nick Read obsessed with pay says ex-HR chief,https://www.bbc.co.uk/news/business-68883821,2024-04-23T20:13:38.000Z,"Post Office boss Nick Read was ""obsessed with his pay"" and made threats to resign over the issue, the firm's former HR director has claimed. When Jane Davies didn't manage to get him a pay increase above 5%, Mr Read started a ""deliberate campaign to defame and ostracise"" her, she said. But the Post Office said a report last week had ""fully exonerated"" Mr Read. It added that claims made by Ms Davies and ex-chair Henry Staunton had been ""discredited"". The revelations are the latest in an ongoing disagreement between Ms Davies and Mr Staunton on one hand, and the Post Office and the government on the other. They are separate from the Post Office Horizon scandal, but the dispute was made public in hearings about compensation for sub-postmasters. Last week, Mr Read was cleared of all misconduct allegations following an investigation carried out by an external barrister, the results of which have not been published.  Mr Staunton revealed the existence of the investigation during a Business and Trade committee hearing on 27 February. He claimed that Nick Read had considered leaving his role on several occasions and was unhappy with his pay. At the time the Post Office said that Mr Read had never tendered his resignation. But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay. Mr Read had a request for a pay increase in November 2022 turned down by then business secretary Grant Shapps, after two similar requests ""backed up in each case by threats to resign"" were turned down in the preceding year. ""I noted a board member saying to me: 'Nick had cried wolf at least 3 times',"" Ms Davies wrote. She said there were more than 30 email or Microsoft Teams exchanges in December and January 2023 concerning Mr Read's pay, one of which asked ""can the business afford to be rudderless""? In January 2023 Mr Read was ""prepared to submit a formal grievance and or make a claim for constructive dismissal"" after leaving, Ms Davies said. Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out of the Horizon scandal and declining revenues. His salary for 2022-23 stood at £573,000, including bonuses. The year before, he earned £816,000, of which £415,000 was salary and the rest bonus. This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry. In the year 2020-21, he did not get a bonus, and was paid £415,000. Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower. However, the average award for FTSE 100 bosses stands at £3.81m per year. Ms Davies said Mr Read was ""obsessed with his pay, to such an extent that it was a huge distraction from me establishing myself in my new position and performing the duties that were set out in my job description"". She said he was offered a 5% pay rise but found it ""insulting"". ""As a result, he regarded me a failure for not getting the remuneration increase,"" she said. ""What followed was a deliberate campaign to defame and ostracise me,"" she said. She added that a bullying complaint had been made about Mr Read, not Mr Staunton. Ms Davies also accused the Post Office of ""dragging their heels"" and ""misinterpreting"" her complaint which became the basis of the misconduct investigation into Mr Read. She said the Post Office had tried to present her complaint as being about other people, including Henry Staunton, when it was actually ""concerned with Nick Read, and Nick Read alone"". ""The fact the POL [Post Office] has ignored my attempts to set the record straight and persisted with its own distorted interpretation (and has indeed privately warned me using the word ""misrepresentation"" in this context) does not give me confidence in the integrity of this investigation"", Ms Davies said.  She added that ""it feels to me that POL have deliberately widened the scope of their investigation to suit another agenda"". Ms Davies added she was not issued with the terms of reference for the investigation despite giving it her full cooperation and travelling hundreds of miles to meet with the investigator. A letter to the committee from Mr Staunton was also published on Tuesday in which he said the complaint by Ms Davies had been ""directed at Nick Read and Nick Read alone"", rather than Mr Staunton. However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"". Following the conclusion of her investigation last week, barrister Marianne Tutin of Devereux Chambers said she was able to approach her inquiry independently in a ""fair, thorough and proportionate"" manner.  ""I was...not placed under any pressure as to what to investigate, or not to investigate, or what findings of fact or recommendations should, or should not, be made,"" she said. Jane Davies has declined to comment.  ",BBC,23/04/2024,"['Post Office boss Nick Read was ""obsessed with his pay"" and made threats to resign over the issue, the firm\'s former HR director has claimed.', 'When Jane Davies didn\'t manage to get him a pay increase above 5%, Mr Read started a ""deliberate campaign to defame and ostracise"" her, she said.', 'But the Post Office said a report last week had ""fully exonerated"" Mr Read.', 'It added that claims made by Ms Davies and ex-chair Henry Staunton had been ""discredited"".', 'The revelations are the latest in an ongoing disagreement between Ms Davies and Mr Staunton on one hand, and the Post Office and the government on the other.', 'They are separate from the Post Office Horizon scandal, but the dispute was made public in hearings about compensation for sub-postmasters.', 'Last week, Mr Read was cleared of all misconduct allegations following an investigation carried out by an external barrister, the results of which have not been published.', 'Mr Staunton revealed the existence of the investigation during a Business and Trade committee hearing on 27 February.', 'He claimed that Nick Read had considered leaving his role on several occasions and was unhappy with his pay.', 'At the time the Post Office said that Mr Read had never tendered his resignation.', 'But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay.', 'Mr Read had a request for a pay increase in November 2022 turned down by then business secretary Grant Shapps, after two similar requests ""backed up in each case by threats to resign"" were turned down in the preceding year. ""', 'I noted a board member saying to me: \'Nick had cried wolf at least 3 times\',"" Ms Davies wrote.', 'She said there were more than 30 email or Microsoft Teams exchanges in December and January 2023 concerning Mr Read\'s pay, one of which asked ""can the business afford to be rudderless""?', 'In January 2023 Mr Read was ""prepared to submit a formal grievance and or make a claim for constructive dismissal"" after leaving, Ms Davies said.', 'Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out of the Horizon scandal and declining revenues.', 'His salary for 2022-23 stood at £573,000, including bonuses.', 'The year before, he earned £816,000, of which £415,000 was salary and the rest bonus.', ""This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry."", 'In the year 2020-21, he did not get a bonus, and was paid £415,000.', 'Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.', 'However, the average award for FTSE 100 bosses stands at £3.81m per year.', 'Ms Davies said Mr Read was ""obsessed with his pay, to such an extent that it was a huge distraction from me establishing myself in my new position and performing the duties that were set out in my job description"".', 'She said he was offered a 5% pay rise but found it ""insulting"". ""', 'As a result, he regarded me a failure for not getting the remuneration increase,"" she said. ""', 'What followed was a deliberate campaign to defame and ostracise me,"" she said.', 'She added that a bullying complaint had been made about Mr Read, not Mr Staunton.', 'Ms Davies also accused the Post Office of ""dragging their heels"" and ""misinterpreting"" her complaint which became the basis of the misconduct investigation into Mr Read.', 'She said the Post Office had tried to present her complaint as being about other people, including Henry Staunton, when it was actually ""concerned with Nick Read, and Nick Read alone"". ""', 'The fact the POL [Post Office] has ignored my attempts to set the record straight and persisted with its own distorted interpretation (and has indeed privately warned me using the word ""misrepresentation"" in this context) does not give me confidence in the integrity of this investigation"", Ms Davies said.', 'She added that ""it feels to me that POL have deliberately widened the scope of their investigation to suit another agenda"".', 'Ms Davies added she was not issued with the terms of reference for the investigation despite giving it her full cooperation and travelling hundreds of miles to meet with the investigator.', 'A letter to the committee from Mr Staunton was also published on Tuesday in which he said the complaint by Ms Davies had been ""directed at Nick Read and Nick Read alone"", rather than Mr Staunton.', 'However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"".', 'Following the conclusion of her investigation last week, barrister Marianne Tutin of Devereux Chambers said she was able to approach her inquiry independently in a ""fair, thorough and proportionate"" manner. ""', 'I was...not placed under any pressure as to what to investigate, or not to investigate, or what findings of fact or recommendations should, or should not, be made,"" she said.', 'Jane Davies has declined to comment.']",-0.1599557913312917,"This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry.","But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay.",-0.525249604667936,"However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"".","Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.",2024-04-26
-Newcastle Building Society to help failed trust fund families,https://www.bbc.co.uk/news/articles/c98zy5r80d5o,2024-04-26T16:16:20.121Z,"A building society has said it will offer “voluntary” financial support to some of its customers who lost their savings when a trust fund firm went bust. Philips Trust Corporation (PTC) went into administration in 2022 leaving more than 2,000 people out of pocket. Some of those have argued Newcastle Building Society (NBS) bears some responsibility for them eventually ending up at PTC. However, at NBS’s annual general meeting this week, its head said it was not responsible for PTC’s actions but would offer “meaningful” support to some customers. Chief executive Andrew Haigh said the firm could not share details about payments as it was working out ""where exactly this financial support will apply"". In the meeting, he said the building society considered the actions of PTC “worthy of consideration by the police”. NBS said it had been in touch with the police and stressed it never had a relationship with PTC and did not refer customers. Gordon Crosthwaite said his mother-in-law Kathleen Birtley, from Northumberland, put about £105,000 into a PTC trust after initially being referred to the Will Writing Company by NBS.  She hoped the money would be used to take care of her disabled son when she died, he said.  But Mr Crosthwaite said he feared she would not get the money back. It was unclear what Mr Haigh meant by ""meaningful"" support and who would actually receive any money, he added.  ""We'll wait and see,"" he said. The BBC understands an entity connected with PTC took over the assets of the Will Writing Company, which went into administration in 2018 and whose services had originally been referred to customers by NBS. NBS maintains it wrote to customers to make clear it had no relationship to parties connected to PTC, after PTC acquired the assets of the Will Writing Company. Some customers said they had not received the first letter and argued they received a second letter too late to act on it. Newcastle solicitor Claire Springle said she believed some of her clients only ended up with PTC because they had accounts with the building society. NBS referred some customers the Will Writing Company to help them write wills and plan their estates, said Mr Springle. This firm then recommended some to its sister company, Family Trust Corporation (FTC), to help them put their homes and savings into trusts. Ms Springle said many of her clients, most of whom were older, did this because they thought they could avoid future care costs. When PTC took over parts of the Will Writing Company in 2018 several FTC customers switched the ownership of their trusts to PTC, according to the Financial Conduct Authority (FCA). After PTC went bust in 2022, it emerged it had moved its customers’ money to higher risk investments, the FCA said. NBS maintains PTC independently contacted customers inviting them to transfer to itself some less risky regulated trusts that had been set up by FTC. “This meant that, unfortunately, a lot of its customers face potential investment losses,” the regulatory body said. PTC's administrators, Kroll, said it held approximately 2,345 trusts. Follow BBC North East on X (formerly Twitter), Facebook and Instagram. Send your story ideas to northeastandcumbria@bbc.co.uk. ",BBC,26/04/2024,"['A building society has said it will offer “voluntary” financial support to some of its customers who lost their savings when a trust fund firm went bust.', 'Philips Trust Corporation (PTC) went into administration in 2022 leaving more than 2,000 people out of pocket.', 'Some of those have argued Newcastle Building Society (NBS) bears some responsibility for them eventually ending up at PTC.', 'However, at NBS’s annual general meeting this week, its head said it was not responsible for PTC’s actions but would offer “meaningful” support to some customers.', 'Chief executive Andrew Haigh said the firm could not share details about payments as it was working out ""where exactly this financial support will apply"".', 'In the meeting, he said the building society considered the actions of PTC “worthy of consideration by the police”.', 'NBS said it had been in touch with the police and stressed it never had a relationship with PTC and did not refer customers.', 'Gordon Crosthwaite said his mother-in-law Kathleen Birtley, from Northumberland, put about £105,000 into a PTC trust after initially being referred to the Will Writing Company by NBS.', 'She hoped the money would be used to take care of her disabled son when she died, he said.', 'But Mr Crosthwaite said he feared she would not get the money back.', 'It was unclear what Mr Haigh meant by ""meaningful"" support and who would actually receive any money, he added. ""', 'We\'ll wait and see,"" he said.', 'The BBC understands an entity connected with PTC took over the assets of the Will Writing Company, which went into administration in 2018 and whose services had originally been referred to customers by NBS.', 'NBS maintains it wrote to customers to make clear it had no relationship to parties connected to PTC, after PTC acquired the assets of the Will Writing Company.', 'Some customers said they had not received the first letter and argued they received a second letter too late to act on it.', 'Newcastle solicitor Claire Springle said she believed some of her clients only ended up with PTC because they had accounts with the building society.', 'NBS referred some customers the Will Writing Company to help them write wills and plan their estates, said Mr Springle.', 'This firm then recommended some to its sister company, Family Trust Corporation (FTC), to help them put their homes and savings into trusts.', 'Ms Springle said many of her clients, most of whom were older, did this because they thought they could avoid future care costs.', 'When PTC took over parts of the Will Writing Company in 2018 several FTC customers switched the ownership of their trusts to PTC, according to the Financial Conduct Authority (FCA).', 'After PTC went bust in 2022, it emerged it had moved its customers’ money to higher risk investments, the FCA said.', 'NBS maintains PTC independently contacted customers inviting them to transfer to itself some less risky regulated trusts that had been set up by FTC. “', 'This meant that, unfortunately, a lot of its customers face potential investment losses,” the regulatory body said.', ""PTC's administrators, Kroll, said it held approximately 2,345 trusts."", 'Follow BBC North East on X (formerly Twitter), Facebook and Instagram.', 'Send your story ideas to northeastandcumbria@bbc.co.uk.']",0.1906699339867517,"This firm then recommended some to its sister company, Family Trust Corporation (FTC), to help them put their homes and savings into trusts.",But Mr Crosthwaite said he feared she would not get the money back.,-0.5707357823848724,"However, at NBS’s annual general meeting this week, its head said it was not responsible for PTC’s actions but would offer “meaningful” support to some customers.","This meant that, unfortunately, a lot of its customers face potential investment losses,” the regulatory body said.",2024-04-26
-UK businesses to suffer if TikTok banned in the US,https://www.bbc.co.uk/news/articles/c3gl5qly48qo,2024-04-24T23:05:36.429Z,"A TikTok ban in the US could have a ""potentially devastating"" impact on some UK businesses, online traders are warning. President Biden has signed into law a bill that gives TikTok's Chinese owner, ByteDance, nine months to sell its stake in the app or it will be blocked in the US. TikTok has said it will challenge this in court. Some 1.5 million UK businesses operate on the app, according to TikTok. Isobel Perl, founder of Perl Cosmetics in London, is worried about the possible impact of a ban as a quarter of her sales now come from the US. Ms Perl founded her skincare and accessories business after losing her job during the pandemic and uses apps such as TikTok to drive traffic to her website. The first six months were ""just figuring out how to run a business on her own"" and it wasn't until she started using TikTok that the brand really took off, she said. ""I mostly use TikTok to drive sales to our website, of all the social media apps it drives the most traffic"". She's been using the app to grow her business outside of the UK. A TikTok ban in the US ""could be potentially devastating to businesses in the UK, TikTok is quite a unique way of reaching customers,"" she said.  Kyle Frank, founder of Franks Remedies, also sells skincare products on TikTok. He's worked hard to grow his customer base on the app and America is now a big market for him.  He told BBC World Service's Marketplace programme, that a ban would really hurt his business.  ""Certain months 60-70% of our monthly sales have come from the US,"" he said.  The US has become his second biggest market and TikTok has been a successful way of reaching those customers, he added. ""We haven't really had to spend any money on ads or marketing to get those customers and connect with them.""  In recent months US officials have voiced alarm over TikTok's popularity with young people. The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. TikTok said it would challenge this ""unconstitutional"" law in court.  ""The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said in a statement. A spokesman for TikTok denounced the bill, saying it ""would trample the free speech rights of 170 million Americans, devastate seven million businesses, and shutter a platform that contributes $24bn (£19.4bn) to the US economy annually"". Jenny Bailey from Merseyside runs Calla Shoes, a footwear brand that specialises in shoes for women with bunions.  She said whenever she sees a big surge in traffic from TikTok, a lot of those customers are from the US. ""We've managed to grow our US revenue from around 20% to 50% of our total business,"" she said. If TikTok does end up being banned in the US she believes ""the opportunity to grow organically as quickly as we have would be severely affected"". Other social media apps that Jenny uses just don't have the same impact, she said. ""We know what works on TikTok can sometimes work quite well on Instagram, but we don't get those big spikes in traffic from the USA on Instagram that we see on TikTok.""  It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process. ",BBC,24/04/2024,"['A TikTok ban in the US could have a ""potentially devastating"" impact on some UK businesses, online traders are warning.', ""President Biden has signed into law a bill that gives TikTok's Chinese owner, ByteDance, nine months to sell its stake in the app or it will be blocked in the US."", 'TikTok has said it will challenge this in court.', 'Some 1.5 million UK businesses operate on the app, according to TikTok.', 'Isobel Perl, founder of Perl Cosmetics in London, is worried about the possible impact of a ban as a quarter of her sales now come from the US.', 'Ms Perl founded her skincare and accessories business after losing her job during the pandemic and uses apps such as TikTok to drive traffic to her website.', 'The first six months were ""just figuring out how to run a business on her own"" and it wasn\'t until she started using TikTok that the brand really took off, she said. ""', 'I mostly use TikTok to drive sales to our website, of all the social media apps it drives the most traffic"".', ""She's been using the app to grow her business outside of the UK."", 'A TikTok ban in the US ""could be potentially devastating to businesses in the UK, TikTok is quite a unique way of reaching customers,"" she said.', 'Kyle Frank, founder of Franks Remedies, also sells skincare products on TikTok.', ""He's worked hard to grow his customer base on the app and America is now a big market for him."", 'He told BBC World Service\'s Marketplace programme, that a ban would really hurt his business. ""', 'Certain months 60-70% of our monthly sales have come from the US,"" he said.', 'The US has become his second biggest market and TikTok has been a successful way of reaching those customers, he added. ""', 'We haven\'t really had to spend any money on ads or marketing to get those customers and connect with them.""', ""In recent months US officials have voiced alarm over TikTok's popularity with young people."", 'The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied.', 'TikTok said it would challenge this ""unconstitutional"" law in court. ""', 'The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said in a statement.', 'A spokesman for TikTok denounced the bill, saying it ""would trample the free speech rights of 170 million Americans, devastate seven million businesses, and shutter a platform that contributes $24bn (£19.4bn) to the US economy annually"".', 'Jenny Bailey from Merseyside runs Calla Shoes, a footwear brand that specialises in shoes for women with bunions.', 'She said whenever she sees a big surge in traffic from TikTok, a lot of those customers are from the US. ""', 'We\'ve managed to grow our US revenue from around 20% to 50% of our total business,"" she said.', 'If TikTok does end up being banned in the US she believes ""the opportunity to grow organically as quickly as we have would be severely affected"".', 'Other social media apps that Jenny uses just don\'t have the same impact, she said. ""', 'We know what works on TikTok can sometimes work quite well on Instagram, but we don\'t get those big spikes in traffic from the USA on Instagram that we see on TikTok.""', 'It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process.']",-0.0949055464739127,"The US has become his second biggest market and TikTok has been a successful way of reaching those customers, he added. ""","A TikTok ban in the US could have a ""potentially devastating"" impact on some UK businesses, online traders are warning.",-0.163652241230011,"We've managed to grow our US revenue from around 20% to 50% of our total business,"" she said.",In recent months US officials have voiced alarm over TikTok's popularity with young people.,2024-04-26
-How robots are taking over warehouse work,https://www.bbc.co.uk/news/business-68639533,2024-04-23T01:17:00.000Z,"Shoppers probably don't think much about what happens next when they place an online grocery order. But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers. At an Ocado warehouse just outside Luton, I'm in the middle of such a dance. As far as I can see, hundreds of robots whizz around a grid, fetching items for online orders. They move with dizzying speed and precision. In the early days of online shopping, when you placed an order, humans would dash around a warehouse or a store collecting your items. But for years now, Ocado has been using robots to collect and distribute products, bringing them to staff, who pack them into boxes for delivery. And Ocado is not the only firm investing in such automation. In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway's AutoStore. In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic. Back in Luton, Ocado has taken its automation process to a higher level. The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer's shop. Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end. It might seem like a trivial addition, but training a robot to recognise an item, grab it successfully and move it, is surprisingly difficult.  At Ocado around 100 engineers have spent years training the artificial intelligence (AI) to take on that task.  James Matthews, chief executive of Ocado Technology explains the AI has to interpret the information coming from its cameras.  ""What is an object? Where are the edges of that object? How would one grasp it?"" In addition the AI has to work out how to move the arm. ""How do I pick that up and accelerate in a way without flinging it across the room? How do I place it in a bag?"" he says. The Luton warehouse has 44 robotic arms, which at the moment account for 15% of the products that flow through the facility, that's about 400,000 items a week. The rest are handled by staff at picking stations.  The staff handle items that robots are not ready for yet, like wine bottles which are heavy and have curved surfaces, making them difficult to grasp. But the system is ramping up. The company is developing different attachments for the robot arms that will allow them to handle a wider variety of items. ""We're just playing it carefully and ramping slowly over time,"" says Mr Matthews. ""It's a deliberate constraint on our behalf, so we continue providing good service to people, and not crushed custard creams in every order, or worse, putting stuff on the track that goes under the wheels of one of the bots and creates an incident."" In two or three years Ocado expects the robots will account for 70% of the products.  This inevitably means fewer human staff, but the Luton warehouse still has 1,400 staff, and many of those will still be needed in the future. ""There will be some sort of curve that tends towards fewer people per building. But it's not as clear cut as, 'hey, look, we're on the verge of just not needing people'. We're a very long way from that,"" Mr Matthews says. Ocado is hoping to sell its automation technology to companies outside the grocery sector. Late last year it announced a deal with Canada's McKesson, a large pharmaceuticals distributor. ""Think about which industries have the need to move things around efficiently inside of warehouse... it's endless,"" says Mr Matthews.  More technology of business So where will the automation of warehouses end? Are we heading to human-free warehouses that can run 24 hours a day? Not so fast, says Sarah Bolton, who specialises in commercial real estate at law firm Taylor Wessing. ""It's almost prohibitively expensive, we're talking hundreds of millions of pounds to fully automate a warehouse,"" she points out.  ""So you're really only talking about the big tenants in the really big warehouses looking at full automation, just because you have to have that size to make it anywhere near financially viable."" She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into. Reliable electricity connections are also vital. ""You're reliant on new build, and there's a massive undersupply of new build warehouse stock in the UK at the minute,"" says Ms Bolton.  AutoStore is tackling some of those challenges. It has a company called Pio which is developing automation for smaller businesses. It uses much of the same technology that AutoStore supplies to big firms - robots buzzing around on a storage grid where goods are stacked vertically. However the upfront costs of Pio's system are lower, with the cost related to the volume of goods the system handles. The software is simpler and designed to integrate easily with common e-commerce systems like Shopify. ""It's a complete offering... where the upfront cost is very reduced. So it's quite affordable for these companies to get access to automation and start to get the benefits out of it. And since the technology is very flexible and scalable, you can continue to basically increase volume by adding more robots rather than more storage capacity,"" says Carlos Fernández, chief product officer at AutoStore. At the moment 10 clients are running Pio's automation system with another five customers signed up. Mr Fernández sees huge growth potential.  ""Over the coming years, there's going to be a journey of making the technology simpler and more affordable. It won't require you to be a large corporation to run complex automation projects, and you won't need to invest big amounts of capital also to start getting the benefits."" ",BBC,23/04/2024,"[""Shoppers probably don't think much about what happens next when they place an online grocery order."", 'But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers.', ""At an Ocado warehouse just outside Luton, I'm in the middle of such a dance."", 'As far as I can see, hundreds of robots whizz around a grid, fetching items for online orders.', 'They move with dizzying speed and precision.', 'In the early days of online shopping, when you placed an order, humans would dash around a warehouse or a store collecting your items.', 'But for years now, Ocado has been using robots to collect and distribute products, bringing them to staff, who pack them into boxes for delivery.', 'And Ocado is not the only firm investing in such automation.', ""In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway's AutoStore."", 'In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic.', 'Back in Luton, Ocado has taken its automation process to a higher level.', ""The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer's shop."", 'Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end.', 'It might seem like a trivial addition, but training a robot to recognise an item, grab it successfully and move it, is surprisingly difficult.', 'At Ocado around 100 engineers have spent years training the artificial intelligence (AI) to take on that task.', 'James Matthews, chief executive of Ocado Technology explains the AI has to interpret the information coming from its cameras. ""', 'What is an object?', 'Where are the edges of that object?', 'How would one grasp it?""', 'In addition the AI has to work out how to move the arm. ""', 'How do I pick that up and accelerate in a way without flinging it across the room?', 'How do I place it in a bag?""', 'he says.', ""The Luton warehouse has 44 robotic arms, which at the moment account for 15% of the products that flow through the facility, that's about 400,000 items a week."", 'The rest are handled by staff at picking stations.', 'The staff handle items that robots are not ready for yet, like wine bottles which are heavy and have curved surfaces, making them difficult to grasp.', 'But the system is ramping up.', 'The company is developing different attachments for the robot arms that will allow them to handle a wider variety of items. ""', 'We\'re just playing it carefully and ramping slowly over time,"" says Mr Matthews. ""', 'It\'s a deliberate constraint on our behalf, so we continue providing good service to people, and not crushed custard creams in every order, or worse, putting stuff on the track that goes under the wheels of one of the bots and creates an incident.""', 'In two or three years Ocado expects the robots will account for 70% of the products.', 'This inevitably means fewer human staff, but the Luton warehouse still has 1,400 staff, and many of those will still be needed in the future. ""', 'There will be some sort of curve that tends towards fewer people per building.', ""But it's not as clear cut as, 'hey, look, we're on the verge of just not needing people'."", 'We\'re a very long way from that,"" Mr Matthews says.', 'Ocado is hoping to sell its automation technology to companies outside the grocery sector.', 'Late last year it announced a deal with Canada\'s McKesson, a large pharmaceuticals distributor. ""', 'Think about which industries have the need to move things around efficiently inside of warehouse... it\'s endless,"" says Mr Matthews.', 'More technology of business So where will the automation of warehouses end?', 'Are we heading to human-free warehouses that can run 24 hours a day?', 'Not so fast, says Sarah Bolton, who specialises in commercial real estate at law firm Taylor Wessing. ""', 'It\'s almost prohibitively expensive, we\'re talking hundreds of millions of pounds to fully automate a warehouse,"" she points out. ""', 'So you\'re really only talking about the big tenants in the really big warehouses looking at full automation, just because you have to have that size to make it anywhere near financially viable.""', ""She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into."", 'Reliable electricity connections are also vital. ""', 'You\'re reliant on new build, and there\'s a massive undersupply of new build warehouse stock in the UK at the minute,"" says Ms Bolton.', 'AutoStore is tackling some of those challenges.', 'It has a company called Pio which is developing automation for smaller businesses.', 'It uses much of the same technology that AutoStore supplies to big firms - robots buzzing around on a storage grid where goods are stacked vertically.', ""However the upfront costs of Pio's system are lower, with the cost related to the volume of goods the system handles."", 'The software is simpler and designed to integrate easily with common e-commerce systems like Shopify. ""', ""It's a complete offering... where the upfront cost is very reduced."", ""So it's quite affordable for these companies to get access to automation and start to get the benefits out of it."", 'And since the technology is very flexible and scalable, you can continue to basically increase volume by adding more robots rather than more storage capacity,"" says Carlos Fernández, chief product officer at AutoStore.', ""At the moment 10 clients are running Pio's automation system with another five customers signed up."", 'Mr Fernández sees huge growth potential. ""', ""Over the coming years, there's going to be a journey of making the technology simpler and more affordable."", 'It won\'t require you to be a large corporation to run complex automation projects, and you won\'t need to invest big amounts of capital also to start getting the benefits.""']",0.1068244655536913,"But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers.","She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into.",0.649489245631478,So it's quite affordable for these companies to get access to automation and start to get the benefits out of it.,There will be some sort of curve that tends towards fewer people per building.,2024-04-26
-Tesla profits cut in half as demand falls,https://www.bbc.co.uk/news/articles/c72pvz18x4lo,2024-04-23T21:38:57.158Z,"Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023. It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced  thousands of job cuts. Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward. Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals. The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.   Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts' predictions of just over $22bn.  But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.  It did not reveal pricing details for the new vehicles.  However Mr Musk made clear he also grander ambitions, touting Tesla's AI credentials and plans for self-driving vehicles - even going as far as to say considering it to be just a car company was the ""wrong framework."" ""If somebody doesn't believe Tesla is going to solve autonomy I think they should not be an investor,"" he said. Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face ""technological, regulatory and operational challenges."" Some investors have called for the company to instead focus on releasing a lower price, mass-market EV. However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.  It also said its situation was not unique.  ""Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,"" it said.  Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.  Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.  The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located. However, Mr Musk sought to downplay the move.  ""Tesla has now created over 30,000 manufacturing jobs in California!"" he said in a post on his social media platform X, formerly Twitter, on Tuesday.  Another 285 jobs will be lost in New York.  Tesla's total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company's filings with US regulators.  The car firm is also facing other issues, with a struggle over Mr Musk's compensation still raging on. On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk's compensation package - once valued at $56bn - which had been rejected by a Delaware judge. The judge found Tesla's directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out. Due to the fall in Tesla's stock value, the compensation package is now estimated to be around $10bn less - but still greater than the GDP of many countries. In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas - which Mr Musk called for after the judge rejected his payday. ",BBC,23/04/2024,"['Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023.', 'It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced thousands of job cuts.', 'Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward.', 'Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals.', 'The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.', ""Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts' predictions of just over $22bn."", 'But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.', 'It did not reveal pricing details for the new vehicles.', 'However Mr Musk made clear he also grander ambitions, touting Tesla\'s AI credentials and plans for self-driving vehicles - even going as far as to say considering it to be just a car company was the ""wrong framework."" ""', 'If somebody doesn\'t believe Tesla is going to solve autonomy I think they should not be an investor,"" he said.', 'Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face ""technological, regulatory and operational challenges.""', 'Some investors have called for the company to instead focus on releasing a lower price, mass-market EV.', 'However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.', 'It also said its situation was not unique. ""', 'Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,"" it said.', 'Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.', 'Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.', ""The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located."", 'However, Mr Musk sought to downplay the move. ""', 'Tesla has now created over 30,000 manufacturing jobs in California!""', 'he said in a post on his social media platform X, formerly Twitter, on Tuesday.', 'Another 285 jobs will be lost in New York.', ""Tesla's total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company's filings with US regulators."", ""The car firm is also facing other issues, with a struggle over Mr Musk's compensation still raging on."", ""On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk's compensation package - once valued at $56bn - which had been rejected by a Delaware judge."", ""The judge found Tesla's directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out."", ""Due to the fall in Tesla's stock value, the compensation package is now estimated to be around $10bn less - but still greater than the GDP of many countries."", 'In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas - which Mr Musk called for after the judge rejected his payday.']",-0.0070112090732076,But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.,The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.,-0.2766771597020766,But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.,The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.,2024-04-26
-Net neutrality is back as FCC votes to regulate internet providers,https://edition.cnn.com/2024/04/25/tech/net-neutrality-is-back/index.html,"
-  Updated
-        5:35 PM EDT, Thu April 25, 2024
-    ","The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry.
-    
-            The net neutrality regulations adopted Thursday by the Federal Communications Commission prohibit providers such as AT&T, Comcast and Verizon from selectively speeding up, slowing down or blocking users’ internet traffic. They largely reflect rules passed by a prior FCC in 2015 and unwound in 2017.
-    
-            The latest rules show how, with a 3-2 Democratic majority, the FCC is moving to reassert its authority over an industry that powers the modern digital economy, touching everything from education to health care and enabling advanced technologies such as artificial intelligence.
-    
-            With Thursday’s party-line vote, the FCC redefined internet service as similar to legacy telephone lines, a sweeping move that comes with greater regulatory power over the broadband industry. And the FCC said it would step in to override state or local policies that conflict with the federal net neutrality rule.
-    
-            Leading FCC officials have said restoring net neutrality rules, and reclassifying ISPs under Title II of the agency’s congressional charter, would provide the FCC with clearer authority to adopt future rules governing everything from public safety to national security.
-    
-            Some of the issues the FCC will be further empowered to address after the change include spam robotexts, internet outages, digital privacy and expanding high-speed internet access, FCC Chairwoman Jessica Rosenworcel said when she first announced the proposal in September.
-    
-            On Thursday, Rosenworcel added that the vote would also prevent internet providers from selling Americans’ personal data or sharing it with tech companies to train artificial intelligence models.
-    
-            “The action we take here is good for consumers, public safety, national security and network investment,” Rosenworcel said ahead of the vote.
-    
-            The vote marks the latest twist in a years-long battle between regulators on the one hand, who say consumer protections are needed to ensure all websites are treated equally, and ISPs on the other who describe the rules as heavy-handed government intervention.
-    
-            For years, consumer advocates have said that without net neutrality rules in place, ISPs would be free to charge websites and consumers extra fees — the equivalent of toll lanes for the internet — in order for some websites to be delivered faster than others. At a societal scale, that could give ISPs enormous power to shape what consumers can see and access on the internet, consumer groups say, and entrench their dominance in markets that lack competition.
-    
-            “Broadband is a telecommunications service and should be regulated as such,” said Justin Brookman, director for technology policy at Consumer Reports. “The Title II authority will ensure that broadband providers are properly overseen by the FCC like all telecommunications services should be. Whether it is throttling content, junk or hidden fees, arbitrary pricing, deceptive advertising or unreliable service, broadband providers have proven over the years that without proper oversight, they will not hesitate to use their power to increase profits at the expense of consumers.”
-    
-            The broadband industry argues there is no risk of that happening because consumers would revolt. ISPs add that during the Trump and Biden administrations when the net neutrality rules were not in effect, providers did not engage in that type of content-based network manipulation. They have also claimed that the regulations could discourage them from building high-speed networks, although some academic research has shown little support for that claim.
-    
-            “These 400-plus pages of relentless regulation are proof positive that old orthodoxies die hard,” said Jonathan Spalter, CEO of USTelecom, a trade association representing internet providers. “This is a nonissue for broadband consumers, who have enjoyed an open internet for decades. Rather than pushing this harmful regulatory land grab, policymakers should keep their eyes on the real-world prize of building opportunity for everyone in a hyperconnected world.”
-    
-            US policies for network providers have flip-flopped multiple times over the past decade with every change in administration in Washington.
-    
-            Republican commissioners at the FCC blasted Thursday’s vote, accusing its Democratic leadership of touching “the third rail of communications policy.”
-    
-            “The internet in America has thrived in the absence of 1930s command-and-control regulation by the government,” said FCC Commissioner Brendan Carr, describing the new rules as a power grab. “The FCC has identified no gap in national security,” he added, that the agency’s move would help fill.
-    
-            Industry groups are widely expected to challenge the rules in court, in a significant new test of the federal government’s power.
-    
-            In past legal battles over net neutrality, courts have deferred to the FCC, ruling that it has wide latitude to regulate ISPs as it sees fit using the authority it derives from the agency’s congressional charter, the Communications Act of 1934.
-    
-            But courts’ longstanding deference to expert agencies appears increasingly in doubt as a conservative-leaning Supreme Court has sounded an increasingly skeptical tone on the reach of federal executive authority.
-    
-            As a result, the outcome of a legal challenge to the FCC’s net neutrality rules could have potentially broad ramifications for other US regulatory bodies, not just the FCC.
-    
-            This story has been updated to clarify the FCC has previously said it would intercede in state and local policies that conflict with its net neutrality rule.",CNN,25/04/2024,"['The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry.', 'The net neutrality regulations adopted Thursday by the Federal Communications Commission prohibit providers such as AT&T, Comcast and Verizon from selectively speeding up, slowing down or blocking users’ internet traffic.', 'They largely reflect rules passed by a prior FCC in 2015 and unwound in 2017.', 'The latest rulesshow how,with a 3-2 Democratic majority, the FCC is moving to reassert its authority over an industry that powers the modern digital economy, touching everything from education to health care and enabling advanced technologies such as artificial intelligence.', 'With Thursday’s party-line vote, the FCC redefined internet service as similar to legacy telephone lines, a sweeping move that comes with greater regulatory power over the broadband industry.', 'And the FCC said it would step in to override state or local policies that conflict with the federal net neutrality rule.', 'Leading FCC officials have said restoring net neutrality rules, and reclassifying ISPs under Title II of the agency’s congressional charter, would provide the FCC with clearer authority to adopt future rules governing everything from public safety to national security.', 'Some of the issues the FCC will be further empowered to address after the change include spam robotexts, internet outages, digital privacy and expanding high-speed internet access, FCC Chairwoman Jessica Rosenworcel said when she first announced the proposal in September.', 'On Thursday, Rosenworcel added that the vote would also prevent internet providers from selling Americans’ personal data or sharing it with tech companies to train artificial intelligence models.', '“The action we take here is good for consumers, public safety, national security and network investment,” Rosenworcel said ahead of the vote.', 'The vote marks the latest twist in a years-long battle between regulators on the one hand, who say consumer protections are needed to ensure all websites are treated equally, and ISPs on the other who describe the rules as heavy-handed government intervention.', 'For years, consumer advocates have said that without net neutrality rules in place, ISPs would be free to charge websites and consumers extra fees — the equivalent of toll lanes for the internet — in order for some websites to be delivered faster than others.', 'At a societal scale, that could give ISPs enormous power to shape what consumers can seeand access on the internet, consumer groups say, and entrench their dominance in markets that lack competition.', '“Broadband is a telecommunications service and should be regulated as such,” said Justin Brookman, director for technology policy at Consumer Reports. “', 'The Title II authority will ensure that broadband providers are properly overseen by the FCC like all telecommunications services should be.', 'Whether it is throttling content, junk or hidden fees, arbitrary pricing, deceptive advertising or unreliable service, broadband providers have proven over the years that without proper oversight, they will not hesitate to use their power to increase profits at the expense of consumers.”', 'The broadband industry argues there is no risk of that happening because consumers would revolt.', 'ISPs add that during the Trump and Biden administrations when the net neutrality rules were not in effect, providers did not engage in that type of content-based network manipulation.', 'They have also claimed that the regulations could discourage them from building high-speed networks, although some academic research has shown little support for that claim.', '“These 400-plus pages of relentless regulation are proof positive that old orthodoxies die hard,” said Jonathan Spalter, CEO of USTelecom, a trade association representing internet providers. “', 'This is a nonissue for broadband consumers, who have enjoyed an open internet for decades.', 'Rather than pushing this harmful regulatory land grab, policymakers should keep their eyes on the real-world prize of building opportunity for everyone in a hyperconnected world.”', 'US policies for network providers have flip-flopped multiple times over the past decade with every change in administration in Washington.', 'Republican commissioners at the FCC blasted Thursday’s vote, accusing its Democratic leadership of touching “the third rail of communications policy.”', '“The internet in America has thrived in the absence of 1930s command-and-control regulation by the government,” said FCC Commissioner Brendan Carr, describing the new rules as a power grab. “', 'The FCC has identified no gap in national security,” he added, that the agency’s move would help fill.', 'Industry groups are widely expected to challenge the rules in court, in a significant new test of the federal government’s power.', 'In past legal battles over net neutrality, courts have deferred to the FCC, ruling that it has wide latitude to regulate ISPs as it sees fit using the authority it derives from the agency’s congressional charter, the Communications Act of 1934.', 'But courts’ longstanding deference to expert agencies appears increasingly in doubt as a conservative-leaning Supreme Court has sounded an increasingly skeptical tone on the reach of federal executive authority.', 'As a result, the outcome of a legal challenge to the FCC’s net neutrality rules could have potentially broad ramifications for other US regulatory bodies, not just the FCC.', 'This story has been updated to clarify the FCC has previously said it would intercede in state and local policies that conflict with its net neutrality rule.']",0.1590658281479894,"The latest rulesshow how,with a 3-2 Democratic majority, the FCC is moving to reassert its authority over an industry that powers the modern digital economy, touching everything from education to health care and enabling advanced technologies such as artificial intelligence.",The broadband industry argues there is no risk of that happening because consumers would revolt.,0.2345490501477168,"“The internet in America has thrived in the absence of 1930s command-and-control regulation by the government,” said FCC Commissioner Brendan Carr, describing the new rules as a power grab. “",But courts’ longstanding deference to expert agencies appears increasingly in doubt as a conservative-leaning Supreme Court has sounded an increasingly skeptical tone on the reach of federal executive authority.,2024-04-26
-What is Bitcoin? Key cryptocurrency terms and what they mean,https://www.bbc.co.uk/news/world-us-canada-63963079,2022-12-13T23:07:08.000Z,"After Bitcoin's price banked a new all time high in March, the sticky subject of cryptocurrencies is back in the spotlight.  And while crypto market-moving events such as Bitcoin ""halving"" or the launch of ""spot ETFs"" may be familiar to crypto fans, their meaning is less obvious to many. But worry not. If you're hearing these for the first time, or just need a refresher, here are a few key words and what they mean. While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin. But what actually is it? Bitcoin is a cryptocurrency, which is to say a type of digital currency. Unlike traditional currencies - the dollar or pound, for example - Bitcoin is not controlled by centralised financial institutions. This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile - rising and falling in value at the whim of Bitcoin buyers and sellers.   Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high. But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched. The blockchain, the system that underpins Bitcoin, is sustained by rewarding so-called ""miners"" - whose job it is to validate transactions - by paying them with the cryptocurrency. However, unlike some other digital currencies, there is not an infinite supply of bitcoins. The amount that can be mined is capped at 21 million, and most are already in circulation.  So roughly every four years - or when the Bitcoin blockchain reaches a certain size - the number of bitcoins rewarded to those who successfully validate transactions is cut in half. The most recent Bitcoin ""halving"" (or ""halvening"") event took place on 20 April 2024, reducing the reward for miners from 6.25 bitcoins to 3.125. This ensures Bitcoin's supply is drawn out for longer while demand, in theory, goes up over time. But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers. Blockchain is the technology underpinning all cryptocurrencies, and many related products like non fungible tokens (NFTs). In essence, it is a virtual spreadsheet on which all the buying and selling of crypto is recorded. They are arranged in blocks linked together in a giant chain - hence the name.  Every cryptocurrency transaction is individually recorded onto the blockchain by a huge network of volunteers verifying its authenticity by using computer programmes.  The incentive to do this for Bitcoin's network is that the first person to validate transactions is rewarded in Bitcoin. This potentially lucrative process, known as mining, is also controversial because of the incredible amount of energy used as people the world over race to be the first to successfully update the blockchain. A crypto exchange is the digital platform where investors can buy, sell and trade cryptocurrencies. Similar to traditional investing, a crypto exchange acts as a brokerage where people can transfer traditional money, like pounds or dollars, from their banks into cryptocurrencies like Bitcoin or Ethereum. Most transactions are accompanied by fees. A crypto wallet is a place where investors hold their cryptocurrency. It stores the virtual assets much like a traditional wallet holds cash. There are two types, a hot wallet and a cold wallet. Hot wallets are connected to the internet, and thus more accessible for quick transfers and easy access. Cold wallets are physical devices like specially designed USBs that store crypto offline typically for safer and longer term storage. Ethereum is used to describe both the second largest cryptocurrency after Bitcoin, represented by the Ether token, and the blockchain underpinning it. This supports an array of different applications and digital assets, such as non-fungible tokens.  It functions in a similar way to Bitcoin and other cryptocurrencies, but in 2022 switched to a greener operating system requiring less computers and energy. ETFs are portfolios that let investors bet on multiple assets without having to buy any themselves. Traded on stock exchanges like shares, their value depends on how the overall portfolio performs in real time. They can comprise a combination of gold and silver bullion, for example, or a mix of shares in both technology and insurance companies. A spot Bitcoin ETF buys the cryptocurrency directly, ""on the spot"", at its current price, throughout the day. While some ETFs already contained Bitcoin indirectly, the US approved several spot Bitcoin ETFs in January 2024. This allowed new investors, such as investment management firms like Blackrock and Fidelity, to enter the speculative world of Bitcoin without having to worry about digital wallets or navigating crypto exchanges. ",BBC,13/12/2022,"[""After Bitcoin's price banked a new all time high in March, the sticky subject of cryptocurrencies is back in the spotlight."", 'And while crypto market-moving events such as Bitcoin ""halving"" or the launch of ""spot ETFs"" may be familiar to crypto fans, their meaning is less obvious to many.', 'But worry not.', ""If you're hearing these for the first time, or just need a refresher, here are a few key words and what they mean."", 'While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin.', 'But what actually is it?', 'Bitcoin is a cryptocurrency, which is to say a type of digital currency.', 'Unlike traditional currencies - the dollar or pound, for example - Bitcoin is not controlled by centralised financial institutions.', 'This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile - rising and falling in value at the whim of Bitcoin buyers and sellers.', 'Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high.', 'But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched.', 'The blockchain, the system that underpins Bitcoin, is sustained by rewarding so-called ""miners"" - whose job it is to validate transactions - by paying them with the cryptocurrency.', 'However, unlike some other digital currencies, there is not an infinite supply of bitcoins.', 'The amount that can be mined is capped at 21 million, and most are already in circulation.', 'So roughly every four years - or when the Bitcoin blockchain reaches a certain size - the number of bitcoins rewarded to those who successfully validate transactions is cut in half.', 'The most recent Bitcoin ""halving"" (or ""halvening"") event took place on 20 April 2024, reducing the reward for miners from 6.25 bitcoins to 3.125.', ""This ensures Bitcoin's supply is drawn out for longer while demand, in theory, goes up over time."", 'But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers.', 'Blockchain is the technology underpinning all cryptocurrencies, and many related products like non fungible tokens (NFTs).', 'In essence, it is a virtual spreadsheet on which all the buying and selling of crypto is recorded.', 'They are arranged in blocks linked together in a giant chain - hence the name.', 'Every cryptocurrency transaction is individually recorded onto the blockchain by a huge network of volunteers verifying its authenticity by using computer programmes.', ""The incentive to do this for Bitcoin's network is that the first person to validate transactions is rewarded in Bitcoin."", 'This potentially lucrative process, known as mining, is also controversial because of the incredible amount of energy used as people the world over race to be the first to successfully update the blockchain.', 'A crypto exchange is the digital platform where investors can buy, sell and trade cryptocurrencies.', 'Similar to traditional investing, a crypto exchange acts as a brokerage where people can transfer traditional money, like pounds or dollars, from their banks into cryptocurrencies like Bitcoin or Ethereum.', 'Most transactions are accompanied by fees.', 'A crypto wallet is a place where investors hold their cryptocurrency.', 'It stores the virtual assets much like a traditional wallet holds cash.', 'There are two types, a hot wallet and a cold wallet.', 'Hot wallets are connected to the internet, and thus more accessible for quick transfers and easy access.', 'Cold wallets are physical devices like specially designed USBs that store crypto offline typically for safer and longer term storage.', 'Ethereum is used to describe both the second largest cryptocurrency after Bitcoin, represented by the Ether token, and the blockchain underpinning it.', 'This supports an array of different applications and digital assets, such as non-fungible tokens.', 'It functions in a similar way to Bitcoin and other cryptocurrencies, but in 2022 switched to a greener operating system requiring less computers and energy.', 'ETFs are portfolios that let investors bet on multiple assets without having to buy any themselves.', 'Traded on stock exchanges like shares, their value depends on how the overall portfolio performs in real time.', 'They can comprise a combination of gold and silver bullion, for example, or a mix of shares in both technology and insurance companies.', 'A spot Bitcoin ETF buys the cryptocurrency directly, ""on the spot"", at its current price, throughout the day.', 'While some ETFs already contained Bitcoin indirectly, the US approved several spot Bitcoin ETFs in January 2024.', 'This allowed new investors, such as investment management firms like Blackrock and Fidelity, to enter the speculative world of Bitcoin without having to worry about digital wallets or navigating crypto exchanges.']",0.2672071279961822,"But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers.",But worry not.,-0.0973098344273037,"Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high.",But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched.,2024-04-26
-Chinese owner denies it’s willing to sell TikTok as US ban looms,https://edition.cnn.com/2024/04/25/business/bytedance-denies-reports-selling-tiktok-intl-hnk/index.html,"
-  Updated
-        12:01 AM EDT, Fri April 26, 2024
-    ","TikTok’s Chinese parent company ByteDance said Thursday that it has no plans to sell the social media platform, its first official response on the fraught issue since President Joe Biden signed a bill that could lead to a nationwide ban of the wildly popular app.
-    
-            “Foreign media reports that ByteDance is exploring the sale of TikTok are untrue,” the Beijing-based company said in a statement on Toutiao, a news aggregation app that it owns and is popular in mainland China.
-    
-            “ByteDance doesn’t have any plan to sell TikTok,” it said.
-    
-            The statement was in direct response to an article by the Information on Thursday that said Bytedance was exploring scenarios for selling TikTok’s US business without the algorithm that recommends videos to TikTok users.
-    
-            In the statement, Bytedance attached screenshots of the Information’s report, which cited three people with knowledge of deliberations.
-    
-            Until now Beijing-based ByteDance, the parent company of TikTok and a host of other apps, had remained quiet on this week’s legislation in the US pushing for a forced sale. Chinese authorities have also been muted since the bill was signed into law despite Beijing previously making clear it would oppose any such measure.
-    
-            Congress passed the bill this week as part of a wide-ranging foreign aid package to support Israel and Ukraine. It was approved by the House on Saturday, and by the Senate on Tuesday.
-    
-            The legislation poses the most serious risk to TikTok since US officials began raising concerns about the app in 2020. Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely, its biggest market with 170 million users.
-    
-            On Wednesday, TikTok’s CEO Shou Chew said the company would fight in the courts to stay online in the US.
-    
-            “Rest assured, we aren’t going anywhere,” he said in a video posted on the app.
-    
-            The Chinese government has previously said it strongly opposes a forced sale of TikTok, and has the legal ability to do so. It views TikTok’s technology as highly valuable and has taken steps since 2020 to ensure it can veto any sale by ByteDance.
-    
-            TikTok’s algorithms, which keep users glued to the app, are believed to be key to its success. The algorithms give recommendations based on users’ behavior, thus pushing videos they want to watch.
-    
-            US lawmakers have long been concerned about Beijing’s influence over the app. In particular, they worry that TikTok could share data with the Chinese government or manipulate content displayed on its platform. So far, there’s little evidence to support these concerns.
-    
-            But as a China-based company, ByteDance is subject to a myriad of national intelligence, data security and cybersecurity laws.
-    
-            In 2018, China amended its National Intelligence Law, which requires any organization or citizen to support, assist and cooperate with national intelligence work. That means ByteDance is legally bound to help with gathering intelligence.
-    
-            As a result, a number of countries have banned officials from downloading TikTok onto their phones, but the US law is one of the most sweeping measures taken so far. India banned TikTok entirely in 2020.",CNN,26/04/2024,"['TikTok’s Chinese parent company ByteDance said Thursday that it has no plans to sell the social media platform, its first official response on the fraught issue since President Joe Biden signed a bill that could lead to a nationwide ban of the wildly popular app.', '“Foreign media reports that ByteDance is exploring the sale of TikTok are untrue,” the Beijing-based company said in a statement on Toutiao, a news aggregation app that it owns and is popular in mainland China.', '“ByteDance doesn’t have any plan to sell TikTok,” it said.', 'The statement was in direct response to an article by the Information on Thursday that said Bytedance was exploring scenarios for selling TikTok’s US business without the algorithm that recommends videos to TikTok users.', 'In the statement, Bytedance attached screenshots of the Information’s report, which cited three people with knowledge of deliberations.', 'Until now Beijing-based ByteDance, the parent company of TikTok and a host of other apps, had remained quiet on this week’s legislation in the US pushing for a forced sale.', 'Chinese authorities have also been muted since the bill was signed into law despite Beijing previously making clear it would oppose any such measure.', 'Congress passed the bill this week as part of a wide-ranging foreign aid package to support Israel and Ukraine.', 'It wasapproved by the Houseon Saturday, and by the Senate on Tuesday.', 'The legislation poses the most serious risk to TikTok since US officials beganraising concerns about the app in 2020.', 'Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely, its biggest market with 170 million users.', 'On Wednesday, TikTok’s CEO Shou Chew said the company would fight in the courts to stay online in the US.', '“Rest assured, we aren’t going anywhere,” he said in a video posted on the app.', 'The Chinese government has previouslysaidit strongly opposes a forced sale of TikTok, and has the legal abilityto do so.', 'It views TikTok’s technology as highly valuable and has taken steps since 2020 to ensure it can veto any sale by ByteDance.', 'TikTok’salgorithms, which keep users glued to the app, are believed to be key to its success.', 'The algorithms give recommendations based on users’ behavior, thus pushing videos they want to watch.', 'US lawmakers have long beenconcerned aboutBeijing’s influence over the app.', 'In particular, they worry that TikTok could share data with the Chinese government or manipulate content displayed on its platform.', 'So far, there’s little evidence to support these concerns.', 'But as a China-based company, ByteDance is subject to a myriad of national intelligence, data security and cybersecurity laws.', 'In 2018, China amended its National Intelligence Law, which requires any organization or citizen to support, assist and cooperate with national intelligence work.', 'That means ByteDance is legally bound to help with gathering intelligence.', 'As a result, a number of countries have banned officials from downloading TikTok onto their phones, but the US law is one of the most sweeping measures taken so far.', 'India banned TikTok entirely in 2020.']",0.1072955187912297,"In 2018, China amended its National Intelligence Law, which requires any organization or citizen to support, assist and cooperate with national intelligence work.","Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely, its biggest market with 170 million users.",-0.9262235164642334,,Chinese authorities have also been muted since the bill was signed into law despite Beijing previously making clear it would oppose any such measure.,2024-04-26
-Meta AI spending plans cause share price slump,https://www.bbc.co.uk/news/articles/cl40v5x483yo,2024-04-24T21:10:00.133Z,"Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI). They went down more than 15% in after-hours trading in New York despite the tech giant revealing strong earnings figures. Boss Mark Zuckerberg said it would take some time before its huge AI investment increased revenues. Meta also said its X rival, Threads, now has more than 150 million monthly active users, increasing the pressure on the Elon Musk-owned platform. ""Threads is well on its way to beating X by becoming the Twitter alternative users and advertisers are longing for,"" said Mike Proulx, from analysts Forrester. He also said Meta stood to gain from TikTok's possible sale or ban in the US - a development the app has vowed to fight. Meta has been updating its ad-buying products with AI tools to boost earnings growth. It has also been introducing more AI features on its social media platforms such as chat assistants. The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn. For investors, that outweighed the positive news on earnings. First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn. Analysts though said there was a logic to Meta's approach. Sophie Lund-Yates, from Hargreaves Lansdown, said Meta's ""substantial investment"" in AI has helped it get people to spend time on its platforms, so advertisers were willing to spend more money ""in a time when digital advertising uncertainty remains rife"". More than 50 countries are due to have elections this year, she said, ""which hugely increases uncertainty"" and can spook advertisers. Ms Lund-Yates said that ""looking further ahead, the biggest risk [for Meta] remains regulatory"". Last year, Meta was fined €1.2bn (£1bn) by Ireland's data authorities for mishandling people's data when transferring it between Europe and the US. And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation. Ms Lund-Yates added that the firm has ""more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment"". ",BBC,24/04/2024,"['Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI).', 'They went down more than 15% in after-hours trading in New York despite the tech giant revealing strong earnings figures.', 'Boss Mark Zuckerberg said it would take some time before its huge AI investment increased revenues.', 'Meta also said its X rival, Threads, now has more than 150 million monthly active users, increasing the pressure on the Elon Musk-owned platform. ""', 'Threads is well on its way to beating X by becoming the Twitter alternative users and advertisers are longing for,"" said Mike Proulx, from analysts Forrester.', ""He also said Meta stood to gain from TikTok's possible sale or ban in the US - a development the app has vowed to fight."", 'Meta has been updating its ad-buying products with AI tools to boost earnings growth.', 'It has also been introducing more AI features on its social media platforms such as chat assistants.', 'The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.', 'For investors, that outweighed the positive news on earnings.', 'First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.', ""Analysts though said there was a logic to Meta's approach."", 'Sophie Lund-Yates, from Hargreaves Lansdown, said Meta\'s ""substantial investment"" in AI has helped it get people to spend time on its platforms, so advertisers were willing to spend more money ""in a time when digital advertising uncertainty remains rife"".', 'More than 50 countries are due to have elections this year, she said, ""which hugely increases uncertainty"" and can spook advertisers.', 'Ms Lund-Yates said that ""looking further ahead, the biggest risk [for Meta] remains regulatory"".', ""Last year, Meta was fined €1.2bn (£1bn) by Ireland's data authorities for mishandling people's data when transferring it between Europe and the US."", 'And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.', 'Ms Lund-Yates added that the firm has ""more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment"".']",0.0464174435548974,"Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI).",He also said Meta stood to gain from TikTok's possible sale or ban in the US - a development the app has vowed to fight.,0.287859776190349,"First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.","Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI).",2024-04-26
-'We need a miracle' - Israeli and Palestinian economies battered by war,https://www.bbc.co.uk/news/world-middle-east-68884729,2024-04-24T00:35:26.000Z,"More than six months into the devastating Gaza war, its impact on the Israeli and Palestinian economies has been huge.  Nearly all economic activity in Gaza has been wiped out and the World Bank says the war has also hit Palestinian businesses in the occupied West Bank hard.  As Israelis mark the Jewish festival of Passover, the much-vaunted ""start-up nation"" is also trying to remain an attractive proposition for investors. The cobbled streets of Jerusalem's Old City are eerily quiet. There are none of the long queues to visit the holy sites - at least those that remain open.  Just after Easter and Ramadan and right in the middle of Passover, all four quarters of the Old City should be teeming with visitors. Just 68,000 tourists arrived in Israel in February, according to the country's Central Bureau of Statistics. That's down massively from 319,100 visitors in the same month last year.  While it may be surprising that any visitors pass through Jerusalem at a time of such tension, many of those who do are religious pilgrims from across the globe who will have paid for their journeys well in advance. Zak's Jerusalem Gifts was one of only a handful of stores on Christian Quarter Street in the Old City, which is situated in occupied East Jerusalem, to have bothered opening up on the day I passed by. ""We're only really doing online sales,"" says Zak, whose business specialises in antiques and biblical coins.  ""There are no actual people. The last week, after the Iran-Israel escalation, business dropped down again. So we are just hoping that after the holidays some big major miracle will happen."" It's not just in Jerusalem's Old City that they need a miracle. Some 250km (150 miles) further north, on Israel's volatile border with Lebanon, almost daily exchanges of fire with Hezbollah since the war in Gaza began have forced the Israeli army to close much of the area and 80,000 residents have been evacuated further south. A similar number of Lebanese have been forced to leave their homes on the other side of the border. Agriculture in this part of Israel is another economic sector that has been hit hard. Ofer ""Poshko"" Moskovitz isn't really permitted to enter his avocado orchard in the kibbutz of Misgav Am because of its proximity to the border. But he occasionally ventures in anyway, walking wistfully among the trees, to gaze at all of his ""money falling on the ground"".  ""I must go to pick in the orchard because it's very important for the next season,"" Poshko says. ""If I don't pick this fruit, the next season will be a very poor one."" He says he is losing a lot of money because he can't pick the avocados - around 2m shekels ($530,000; £430,000) this season, he says. Although they provide a living for thousands of people, agriculture and tourism account for relatively small parts of both the Israeli or Palestinian economies. So what does the wider picture show? Last week ratings agency S&P Global cut Israel's long-term ratings (to A-plus from AA-minus) reflecting a loss of market confidence after increased tensions between Israel and Iran and concerns the war in Gaza could spread across the wider Middle East. That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023. Many Israelis though say the country's renowned high-tech and start-up sector is proving to be more ""war-proof"" than expected. The coastal city of Tel Aviv is only 54km from Jerusalem. More pertinently, perhaps, it's less than 70km from Gaza.  At times, you'd be forgiven for forgetting - however momentarily - that Israel is embroiled in its longest war since independence in 1948. Families make the most of the early summer sun to play in the surf, couples eat lunch in the many open-air beach restaurants and young people strum away on guitars on the green spaces between the coastal road and the Mediterranean. The backdrop is a city that is economically active and physically growing fast. ""They joke that Israel's national bird should be the crane - the mechanical kind!"" says Jon Medved, founder and CEO of the online global venture investment platform Our Crowd. An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups…  We're having one of the best years we've ever had. People who are engaged with Israel are not disengaging."" Medved insists that, despite everything, Israel is still the ""start-up nation"" and a good option for would-be investors. ""There are 400 multinational corporations that have operations here. Not a single multinational, has closed its operation in Israel since the war."" To an extent, Elise Brezis agrees with Mr Medved's assessment. The economics professor at Bar-Ilan University near Tel Aviv acknowledges that despite the last quarter's GDP figures, Israel's economy remains ""remarkably resilient"". ""When it comes to tourism, yes, we have a reduction in exports. But we had also reduction in imports,"" says Brezis. ""So in fact, the balance of payments is still okay. That's what is so problematic is that from the data, you don't really feel that there is such a terrible situation in Israel."" But Prof Brezis detects a wider malaise in Israeli society that isn't reflected in economic data. ""Israel's economy might be robust, but Israeli society is not robust right now. It's like looking at a person and saying, 'Wow, his salary is high,' [...] but in fact he's depressed. And he's thinking, 'What will I do with my life?' - That's exactly Israel today."" If the outlook in Israel is mixed, then across the separation barrier that divides Jerusalem and Bethlehem the view from the Palestinian side is overwhelmingly bleak. Tourism is especially important to the economies of towns like Bethlehem in the occupied West Bank.  While some people are still heading to Jerusalem's sites, in the place where Christians believe Jesus was born tourism ""stopped immediately"" after 7 October last year, says Dr Samir Hazboun, chairman of Bethlehem's Chamber of Commerce and Industry. That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war. There's huge dependence and reliance on Israel's economy here - but Israel virtually closed off the landlocked West Bank after 7 October and this has had a disastrous impact on the life and work of many Palestinians, Dr Hazboun says. ""The Bethlehem governorate right now is closed,"" he says. ""There are around 43 gates [in the Israeli security barrier] but only three are open. So with between 16,000 and 20,000 Palestinian workers from our area working in Israel, immediately, they lost their income."" The chamber of commerce says that the revenues from local Palestinians working in Israel amounted to 22bn shekels ($5.8bn) annually. ""You can imagine the impact on the economy,"" says Dr Hazboun, who is particularly concerned for the prospects for younger Palestinians the longer the war continues and more the Israeli and West Bank economies decouple. ""The younger generation now are jobless, they are not working. Many of them are talented people,"" he laments. ""In June I'm expecting around 30,000 new graduates from the Palestinian universities. What they will do?  In Gaza itself the economy has been completely destroyed by six months of war. Israel's relentless aerial bombardment and ground operations have killed 34,183 people, mostly women and children, according to the Hamas-run health ministry. Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal. ",BBC,24/04/2024,"['More than six months into the devastating Gaza war, its impact on the Israeli and Palestinian economies has been huge.', 'Nearly all economic activity in Gaza has been wiped out and the World Bank says the war has also hit Palestinian businesses in the occupied West Bank hard.', 'As Israelis mark the Jewish festival of Passover, the much-vaunted ""start-up nation"" is also trying to remain an attractive proposition for investors.', ""The cobbled streets of Jerusalem's Old City are eerily quiet."", 'There are none of the long queues to visit the holy sites - at least those that remain open.', 'Just after Easter and Ramadan and right in the middle of Passover, all four quarters of the Old City should be teeming with visitors.', ""Just 68,000 tourists arrived in Israel in February, according to the country's Central Bureau of Statistics."", ""That's down massively from 319,100 visitors in the same month last year."", 'While it may be surprising that any visitors pass through Jerusalem at a time of such tension, many of those who do are religious pilgrims from across the globe who will have paid for their journeys well in advance.', 'Zak\'s Jerusalem Gifts was one of only a handful of stores on Christian Quarter Street in the Old City, which is situated in occupied East Jerusalem, to have bothered opening up on the day I passed by. ""', 'We\'re only really doing online sales,"" says Zak, whose business specialises in antiques and biblical coins. ""', 'There are no actual people.', 'The last week, after the Iran-Israel escalation, business dropped down again.', 'So we are just hoping that after the holidays some big major miracle will happen.""', ""It's not just in Jerusalem's Old City that they need a miracle."", ""Some 250km (150 miles) further north, on Israel's volatile border with Lebanon, almost daily exchanges of fire with Hezbollah since the war in Gaza began have forced the Israeli army to close much of the area and 80,000 residents have been evacuated further south."", 'A similar number of Lebanese have been forced to leave their homes on the other side of the border.', 'Agriculture in this part of Israel is another economic sector that has been hit hard.', 'Ofer ""Poshko"" Moskovitz isn\'t really permitted to enter his avocado orchard in the kibbutz of Misgav Am because of its proximity to the border.', 'But he occasionally ventures in anyway, walking wistfully among the trees, to gaze at all of his ""money falling on the ground"". ""', 'I must go to pick in the orchard because it\'s very important for the next season,"" Poshko says. ""', 'If I don\'t pick this fruit, the next season will be a very poor one.""', ""He says he is losing a lot of money because he can't pick the avocados - around 2m shekels ($530,000; £430,000) this season, he says."", 'Although they provide a living for thousands of people, agriculture and tourism account for relatively small parts of both the Israeli or Palestinian economies.', 'So what does the wider picture show?', ""Last week ratings agency S&P Global cut Israel's long-term ratings (to A-plus from AA-minus) reflecting a loss of market confidence after increased tensions between Israel and Iran and concerns the war in Gaza could spread across the wider Middle East."", 'That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023.', 'Many Israelis though say the country\'s renowned high-tech and start-up sector is proving to be more ""war-proof"" than expected.', 'The coastal city of Tel Aviv is only 54km from Jerusalem.', ""More pertinently, perhaps, it's less than 70km from Gaza."", ""At times, you'd be forgiven for forgetting - however momentarily - that Israel is embroiled in its longest war since independence in 1948."", 'Families make the most of the early summer sun to play in the surf, couples eat lunch in the many open-air beach restaurants and young people strum away on guitars on the green spaces between the coastal road and the Mediterranean.', 'The backdrop is a city that is economically active and physically growing fast. ""', 'They joke that Israel\'s national bird should be the crane - the mechanical kind!""', 'says Jon Medved, founder and CEO of the online global venture investment platform Our Crowd.', 'An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups… We\'re having one of the best years we\'ve ever had.', 'People who are engaged with Israel are not disengaging.""', 'Medved insists that, despite everything, Israel is still the ""start-up nation"" and a good option for would-be investors. ""', 'There are 400 multinational corporations that have operations here.', 'Not a single multinational, has closed its operation in Israel since the war.""', ""To an extent, Elise Brezis agrees with Mr Medved's assessment."", 'The economics professor at Bar-Ilan University near Tel Aviv acknowledges that despite the last quarter\'s GDP figures, Israel\'s economy remains ""remarkably resilient"". ""', 'When it comes to tourism, yes, we have a reduction in exports.', 'But we had also reduction in imports,"" says Brezis. ""', 'So in fact, the balance of payments is still okay.', 'That\'s what is so problematic is that from the data, you don\'t really feel that there is such a terrible situation in Israel.""', 'But Prof Brezis detects a wider malaise in Israeli society that isn\'t reflected in economic data. ""', ""Israel's economy might be robust, but Israeli society is not robust right now."", ""It's like looking at a person and saying, 'Wow, his salary is high,' [...] but in fact he's depressed."", ""And he's thinking, 'What will I do with my life?' -"", 'That\'s exactly Israel today.""', 'If the outlook in Israel is mixed, then across the separation barrier that divides Jerusalem and Bethlehem the view from the Palestinian side is overwhelmingly bleak.', 'Tourism is especially important to the economies of towns like Bethlehem in the occupied West Bank.', 'While some people are still heading to Jerusalem\'s sites, in the place where Christians believe Jesus was born tourism ""stopped immediately"" after 7 October last year, says Dr Samir Hazboun, chairman of Bethlehem\'s Chamber of Commerce and Industry.', ""That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war."", 'There\'s huge dependence and reliance on Israel\'s economy here - but Israel virtually closed off the landlocked West Bank after 7 October and this has had a disastrous impact on the life and work of many Palestinians, Dr Hazboun says. ""', 'The Bethlehem governorate right now is closed,"" he says. ""', 'There are around 43 gates [in the Israeli security barrier] but only three are open.', 'So with between 16,000 and 20,000 Palestinian workers from our area working in Israel, immediately, they lost their income.""', 'The chamber of commerce says that the revenues from local Palestinians working in Israel amounted to 22bn shekels ($5.8bn) annually. ""', 'You can imagine the impact on the economy,"" says Dr Hazboun, who is particularly concerned for the prospects for younger Palestinians the longer the war continues and more the Israeli and West Bank economies decouple. ""', 'The younger generation now are jobless, they are not working.', 'Many of them are talented people,"" he laments. ""', ""In June I'm expecting around 30,000 new graduates from the Palestinian universities."", 'What they will do?', 'In Gaza itself the economy has been completely destroyed by six months of war.', ""Israel's relentless aerial bombardment and ground operations have killed 34,183 people, mostly women and children, according to the Hamas-run health ministry."", 'Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal.']",-0.0504824617095796,"Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal.","That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war.",-0.2119207361648822,"An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups… We're having one of the best years we've ever had.",That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023.,2024-04-26
-Even in peaceful countries be ready for a siren blast,https://www.bbc.co.uk/news/business-68761255,2024-04-11T23:13:02.000Z,"I was halfway through my morning run when I heard it. The sound of the apocalypse. An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT. I glanced at the sky. But nobody else nearby seemed to be taking any notice. My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out. It was the same at the supermarket on the way home. The din of the siren was audible across East Belfast, and yet, life continued as normal.  The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour. It is a fire alarm and has to be so loud partly because of the large size of the facility in question. This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids. Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories. Just in case. ""That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""You need to get people's attention."" He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits. It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions.  These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free. He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades. In the UK, there are air raid-style sirens in a number of locations. Notably, at the Royal Navy base in Portsmouth. This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.  A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored. There are no plans to change the emergency alarm system."" Some siren locations are, perhaps, less obvious. Take The State Hospital, a psychiatric hospital in Carstairs, Scotland. Its siren system was sounded, for example, when two murderers escaped in the 1970s. Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message. Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems. Take Hampton Water Treatment Works in West London - even it has a siren.  In Bradford, there is a siren at a large chemical plant owned by Solenis. In information sent to locals, the company explains why an accident might be harmful. A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries."" Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"". More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products. It too has a siren system in place to warn people in the event of a chemical emergency . These are just some examples. There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren. One siren aficionado has even marked the locations of these systems on an online map.  The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour. But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard. H&W confirms that this was not the case. The incident raises the question: Would people react appropriately during a real emergency? People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management.  ""So [they] are familiar - 'Hey, I know this sound, it's not a scary sound, it's an action sound - I need to do something',"" she explains. Failing to activate a siren during an emergency could also be harmful. Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023. Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response.  ""We need a series of pieces of information or else it's difficult to prompt people to act,"" she says. The range of situations that might require a siren around the world are extremely varied. Sentry Siren, for instance, recently shipped five of its units to Iceland. They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months. And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems. Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat."" Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise. But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements. The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood. Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency. These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally. Most of the time, thankfully, there's no emergency. There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts. Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn't you use all the tools available to you?"" ",BBC,11/04/2024,"['I was halfway through my morning run when I heard it.', 'The sound of the apocalypse.', 'An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT.', 'I glanced at the sky.', 'But nobody else nearby seemed to be taking any notice.', ""My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out."", 'It was the same at the supermarket on the way home.', 'The din of the siren was audible across East Belfast, and yet, life continued as normal.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour.', 'It is a fire alarm and has to be so loud partly because of the large size of the facility in question.', 'This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids.', 'Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories.', 'Just in case. ""', 'That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""', 'You need to get people\'s attention.""', 'He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits.', ""It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions."", 'These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free.', 'He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades.', 'In the UK, there are air raid-style sirens in a number of locations.', 'Notably, at the Royal Navy base in Portsmouth.', 'This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.', 'A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored.', 'There are no plans to change the emergency alarm system.""', 'Some siren locations are, perhaps, less obvious.', 'Take The State Hospital, a psychiatric hospital in Carstairs, Scotland.', 'Its siren system was sounded, for example, when two murderers escaped in the 1970s.', 'Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message.', 'Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems.', 'Take Hampton Water Treatment Works in West London - even it has a siren.', 'In Bradford, there is a siren at a large chemical plant owned by Solenis.', 'In information sent to locals, the company explains why an accident might be harmful.', 'A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries.""', 'Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"".', 'More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products.', 'It too has a siren system in place to warn people in the event of a chemical emergency .', 'These are just some examples.', 'There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren.', 'One siren aficionado has even marked the locations of these systems on an online map.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour.', ""But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard."", 'H&W confirms that this was not the case.', 'The incident raises the question: Would people react appropriately during a real emergency?', 'People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management. ""', 'So [they] are familiar - \'Hey, I know this sound, it\'s not a scary sound, it\'s an action sound - I need to do something\',"" she explains.', 'Failing to activate a siren during an emergency could also be harmful.', 'Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023.', 'Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response. ""', 'We need a series of pieces of information or else it\'s difficult to prompt people to act,"" she says.', 'The range of situations that might require a siren around the world are extremely varied.', 'Sentry Siren, for instance, recently shipped five of its units to Iceland.', ""They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months."", ""And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems."", 'Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat.""', 'Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise.', 'But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements.', ""The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood."", 'Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency.', 'These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally.', ""Most of the time, thankfully, there's no emergency."", ""There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts."", 'Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn\'t you use all the tools available to you?""']",-0.1702984417179804,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""","There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts.",0.2383095145225525,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. """,Failing to activate a siren during an emergency could also be harmful.,2024-04-26
-Boom times for US green energy as federal cash flows in,https://www.bbc.co.uk/news/business-68667140,2024-04-08T23:03:36.000Z,"In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil. The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive. The second plant would add to its facility in Soperton, Georgia - the world's first commercial scale ethanol-to-SAF plant. ""We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""  Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.  The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy. With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology. The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries. Consumers can also receive tax credits, for example for buying an EV or installing a heat pump. The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years). Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects. Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.  One company to benefit so far is EV battery recycling company Ascend Elements. It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky.  ""[The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""There is a clear sense that America has become more serious about transitioning to a cleaner economy."" While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments. According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits. The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long. But experts believe it is rising. Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data. Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023. The IRA has had two main positive effects thus far, says Mr Houser.  It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.  It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser. But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA. On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections.  Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within. The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.  Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm. The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL. For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this. It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.  Yet others argue the US can't afford not to take this path. And the point of the loans program is to take risks to help unlock new solutions that scale. ""It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm. More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more. Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill.  ""The US wasn't a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm. The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030. In the UK, chancellor Jeremy Hunt has made clear he isn't interested, nor can the UK afford to copy the IRA's approach in some ""distortive global subsidy race"" and will stick to other ways of helping. The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy. A global audience will be watching as the US's clean energy juggernaut unfolds. And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut. ",BBC,08/04/2024,"['In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil.', 'The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive.', 'The second plant would add to its facility in Soperton, Georgia - the world\'s first commercial scale ethanol-to-SAF plant. ""', 'We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""', 'Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.', 'The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy.', 'With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology.', 'The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries.', 'Consumers can also receive tax credits, for example for buying an EV or installing a heat pump.', 'The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years).', 'Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects.', 'Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.', 'One company to benefit so far is EV battery recycling company Ascend Elements.', 'It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[', 'The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""', 'There is a clear sense that America has become more serious about transitioning to a cleaner economy.""', 'While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider.', 'Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments.', 'According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits.', ""The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long."", 'But experts believe it is rising.', 'Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.', 'Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023.', 'The IRA has had two main positive effects thus far, says Mr Houser.', 'It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.', 'It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF.', 'While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser.', ""But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA."", ""On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections."", 'Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within.', 'The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.', 'Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""', 'A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm.', 'The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL.', ""For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this."", 'It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.', ""Yet others argue the US can't afford not to take this path."", 'And the point of the loans program is to take risks to help unlock new solutions that scale. ""', 'It would be failing if there weren\'t any so called \'failures\' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.', ""More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more."", 'Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""', 'The US wasn\'t a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm.', ""The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year."", ""It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030."", 'In the UK, chancellor Jeremy Hunt has made clear he isn\'t interested, nor can the UK afford to copy the IRA\'s approach in some ""distortive global subsidy race"" and will stick to other ways of helping.', 'The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy.', ""A global audience will be watching as the US's clean energy juggernaut unfolds."", ""And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.""]",0.3325934479260706,"And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.","It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.",0.3432436046146211,"Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.","But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA.",2024-04-26
-What the pro-Palestinian protesters on college campuses actually want,https://edition.cnn.com/2024/04/26/investing/what-pro-palestinian-protesters-want/index.html,"
-  Updated
-        11:24 AM EDT, Fri April 26, 2024
-    ","College campuses across America have been shaken by unrest that has resulted in clashes with police, shut down some classrooms and captured the attention of the nation.
-    
-            Although much of the initial focus has been on antisemitic incidents and how university officials and police are responding to the demonstrations, all of this raises a fundamental question: What do the pro-Palestinian protesters actually want?
-    
-            The specific demands of the protesters vary somewhat from school to school yet the central demand is that universities divest from companies linked to Israel or businesses that are profiting off its war with Hamas. Universities have largely refused to budge on this demand, and experts say divestment may not have a significant impact on the companies themselves.
-    
-            Other common threads include demanding universities disclose their investments, sever academic ties with Israeli universities and support a ceasefire in Gaza.
-    
-            “We asked that Columbia University pull all investments away from companies that profit off of the genocide of Palestinians or Israeli companies that profit off of the oppression of Palestinians,” Althea, a student protester at Columbia, told CNN. Althea asked for her last name not to be used for privacy reasons.
-    
-            Protest movements at some universities are also calling for school officials to protect free speech and spare students from being punished for participating in the protests.
-    
-            At the University of Southern California, where dozens were arrested on Wednesday, protesters are demanding “full amnesty” for those brought into custody and that there be “no policing on campus.”
-    
-            At Princeton University, protesters are demanding, among other things, that the Ivy League school end research on weapons of war “used to enable genocide,” according to a flyer at a campus demonstration on Thursday.
-    
-            Some demands are local.
-    
-            At Columbia University, where the pro-Palestinian protest movement started last week, protesters are demanding support for low-income Harlem residents, including housing and reparations, according to Columbia University Apartheid Divest, the student group responsible for organizing the encampment.
-    
-            The Columbia protesters are also calling for the university to “disclose and sever all ties” with the New York Police Department.
-    
-            Students are also calling for an academic boycott from Israeli universities. For example, Columbia protesters want the university to sever ties with the school’s center in Tel Aviv and a dual degree program with Tel Aviv University. New York University protesters use the school’s Tel Aviv center as a rallying cry as well.
-    
-            Still, divestment is at the top of the list of demands from protesters and the one they mention most often.
-    
-            As Republican House Speaker Mike Johnson addressed students at Columbia on Wednesday, students chanted: “Disclose, divest, we will not stop we will not rest.”
-    
-            Like many major universities, Columbia has a massive endowment. It was valued at $13.6 billion, as of mid-2023.
-    
-            And there is a history of student activists targeting endowments during demonstrations. In the 1980s, students successfully persuaded Columbia to divest from apartheid South Africa.
-    
-            More recently, Columbia and other universities have divested from fossil fuels and private prisons.
-    
-            Charlie Eaton, assistant professor of sociology at the University of California, Merced and author of “Bankers in the Ivory Tower,” said Columbia can “absolutely” make the choice to divest from Israel-linked investments.
-    
-            “It’s not unreasonable practice for schools to make decisions about how they invest based not just on maximizing investment returns, but also around principles of equity and justice in what they invest in,” he said.
-    
-            But Mark Yudof, chairman of the Academic Engagement Network, which opposes campus antisemitism, said it’s not a simple solution to implement.
-    
-            “The truth is it’s sometimes murky to figure out who is doing business in Israel and what the relationship is to the war,” Yudof said.
-    
-            Yudof, the former president of the University of California, said he’s not aware of a single university that has divested from Israel despite years of pressure to do so.
-    
-            “I don’t think it will happen,” he said.
-    
-            However, none of the universities have announced plans to divest from Israel-linked investments and some experts say they will be very reluctant to accept this demand.
-    
-            “A significant obstacle to divestment is that any university supporting divestment would be sending a clear signal that they either: (a) acquiesce in; or (b) support the destruction of the State of Israel and its citizens,” said Jonathan Macey, a professor at Yale Law School.
-    
-            Macey said that while such a move may be supported by protesters, it would be “viewed as hostile and threatening to many students, faculty and staff.”
-    
-            Lauren Post, an analyst at the Anti-Defamation League, said the push for divestment is related to the Boycott, Divestment and Sanctions (BDS) movement.
-    
-            Although Post acknowledged that some individuals may be pushing for divestment as a way to hold Israel accountable, she said the ADL views the goals of BDS as antisemitic.
-    
-            “The goal – ultimately dismantling the state of Israel, is antisemitic,” said Post.
-    
-            Yudof, the former University of California president, said he also feels it is antisemitic.
-    
-            “It smacks of a double standard. Why is it only Israel?” He criticized protesting college students for focusing on Israel instead of undemocratic regimes around the world, including Iran and Russia.
-    
-            It’s worth noting, however, that the student protests don’t directly say they are affiliated with BDS.
-    
-            “We are not going anywhere until our demands are met,” Khymani James, a student at Columbia University, said during a news briefing Wednesday.
-    
-            James, a student activist associated with the Columbia University Apartheid Divest (CUAD) coalition, has since apologized for saying on video that “Zionists don’t deserve to live.”
-    
-            James acknowledged the statement in a post on X, saying it was from an Instagram Live video in January. “I misspoke in the heat of the moment, for which I apologize.”
-    
-            The apology came early Friday morning, hours after an interview with CNN at Columbia where James repeatedly declined to apologize for the video, saying that the focus should be on Palestinian liberation.
-    
-            There is also a debate over how effective divestment campaigns are.
-    
-            One issue is that selling stock in a company means the university would give up its influence over the company.
-    
-            “Be careful what you ask for. If you sell your stock, someone else will buy it and they may be less concerned about the issue you care about,” said Cary Krosinsky, a lecturer at Yale who has advised university endowments.
-    
-            Another issue is that while university endowments are large, public companies are much bigger. If a university divests, many companies would not even notice it.
-    
-            University endowments own approximately 0.1% of public companies, according to research by Krosinsky.
-    
-            “0.1% is not going to move the needle very much. Someone else will buy the stock and life will go on,” he said.
-    
-            Most university funds are invested with private equity funds and hedge funds, rather than broad-ranging mutual or index funds.
-    
-            Of course, the divestment push is about more than directly punishing companies. It’s about a desire to send a message and raise awareness.
-    
-            More than wanting to take down defense contractors like Lockheed Martin and Raytheon, protesters would view divestment as a symbolic victory for justice and equality.
-    
-            Students are “complicit in what this institution does,” graduate student Basil Rodriguez said to CNN Wednesday, noting that students pay tuition.
-    
-            Rodriguez is Palestinian herself, and said her family members have been “murdered and executed” and displaced.
-    
-            Student protesters say the demands to disclose and to divest are interconnected.
-    
-            Protesters argue that many of the financial interests of universities are opaque and the links to Israel may be even greater than officials realize.
-    
-            “At the same time, this is only the tip of the iceberg,” Rodriguez said. “We demand full financial transparency.”
-    
-            CNN’s John Towfighi contributed to this report.",CNN,26/04/2024,"['College campuses across America have been shaken by unrest that has resulted in clashes with police, shut down some classrooms and captured the attention of the nation.', 'Although much of the initial focus has been on antisemitic incidents and how university officials and police are responding to the demonstrations, all of this raises a fundamental question: What do the pro-Palestinian protesters actually want?', 'The specific demands of the protesters vary somewhat from school to school yet the central demand is that universities divest from companies linked to Israel or businesses that are profiting off its war with Hamas.', 'Universities have largely refused to budge on this demand, and experts say divestment may not have a significant impact on the companies themselves.', 'Other common threads include demanding universities disclose their investments, sever academic ties with Israeli universities and support a ceasefire in Gaza.', '“We asked that Columbia University pull all investments away from companies that profit off of the genocide of Palestinians or Israeli companies that profit off of the oppression of Palestinians,” Althea, a student protester at Columbia, told CNN.', 'Althea asked for her last name not to be used for privacy reasons.', 'Protest movements at some universities are also calling for school officials to protect free speech and spare students from being punished for participating in the protests.', 'At the University of Southern California, where dozens were arrested on Wednesday, protesters are demanding “full amnesty” for those brought into custody and that there be “no policing on campus.”', 'At Princeton University, protesters are demanding, among other things, that the Ivy League school end research on weapons of war “used to enable genocide,” according to a flyer at a campus demonstration on Thursday.', 'Some demands are local.', 'At Columbia University, where the pro-Palestinian protest movement started last week, protesters are demanding support for low-income Harlem residents, including housing and reparations, according to Columbia University Apartheid Divest, the student group responsible for organizing the encampment.', 'The Columbia protesters are also calling for the university to “disclose and sever all ties” with the New York Police Department.', 'Students are also calling for an academic boycott from Israeli universities.', 'For example, Columbia protesters want the university to sever ties with the school’s center in Tel Aviv and a dual degree program with Tel Aviv University.', 'New York University protesters use the school’s Tel Aviv center as a rallying cry as well.', 'Still, divestment is at the top of the list of demands from protesters and the one they mention most often.', 'As Republican House Speaker Mike Johnson addressed students at Columbia on Wednesday, students chanted: “Disclose, divest, we will not stop we will not rest.”', 'Like many major universities, Columbia has a massive endowment.', 'It was valued at $13.6 billion, as of mid-2023.', 'And there is a history of student activists targeting endowments during demonstrations.', 'In the 1980s, students successfully persuaded Columbia to divest from apartheid South Africa.', 'More recently, Columbia and other universities have divested from fossil fuels and private prisons.', 'Charlie Eaton, assistant professor of sociology at the University of California, Merced and author of “Bankers in the Ivory Tower,” said Columbia can “absolutely” make the choice to divest from Israel-linked investments.', '“It’s not unreasonable practice for schools to make decisions about how they invest based not just on maximizing investment returns, but also around principles of equity and justice in what they invest in,” he said.', 'But Mark Yudof, chairman of the Academic Engagement Network, which opposes campus antisemitism, said it’s not a simple solution to implement.', '“The truth is it’s sometimes murky to figure out who is doing business in Israel and what the relationship is to the war,” Yudof said.', 'Yudof, the former president of the University of California, said he’s not aware of a single university that has divested from Israel despite years of pressure to do so.', '“I don’t think it will happen,” he said.', 'However, none of the universities have announced plans to divest from Israel-linked investments and some experts say they will be very reluctant to accept this demand.', '“A significant obstacle to divestment is that any university supporting divestment would be sending a clear signal that they either: (a) acquiesce in; or (b) support the destruction of the State of Israel and its citizens,” said Jonathan Macey, a professor at Yale Law School.', 'Macey said that while such a move may be supported by protesters, it would be “viewed as hostile and threatening to many students, faculty and staff.”', 'Lauren Post, an analyst at the Anti-Defamation League, said the push for divestment is related to the Boycott, Divestment and Sanctions (BDS) movement.', 'Although Post acknowledged that some individuals may be pushing for divestment as a way to hold Israel accountable, she said the ADL views the goals of BDS as antisemitic.', '“The goal – ultimately dismantling the state of Israel, is antisemitic,” said Post.', 'Yudof, the former University of California president, said he also feels it is antisemitic.', '“It smacks of a double standard.', 'Why is it only Israel?”', 'He criticized protesting college students for focusing on Israel instead of undemocratic regimes around the world, including Iran and Russia.', 'It’s worth noting, however, that the student protests don’t directly say they are affiliated with BDS.', '“We are not going anywhere until our demands are met,” Khymani James, a student at Columbia University, said during a news briefing Wednesday.', 'James, a student activist associated with the Columbia University Apartheid Divest (CUAD) coalition, has since apologized for saying on video that “Zionists don’t deserve to live.”', 'James acknowledged the statement ina post on X, saying it was from an Instagram Live video in January. “', 'I misspoke in the heat of the moment, for which I apologize.”', 'The apology came early Friday morning, hours after an interview with CNN at Columbia where James repeatedly declined to apologize for the video, saying that the focus should be on Palestinian liberation.', 'There is also a debate over how effective divestment campaigns are.', 'One issue is that selling stock in a company means the university would give up its influence over the company.', '“Be careful what you ask for.', 'If you sell your stock, someone else will buy it and they may be less concerned about the issue you care about,” said Cary Krosinsky, a lecturer at Yale who has advised university endowments.', 'Another issue is that while university endowments are large, public companies are much bigger.', 'If a university divests, many companies would not even notice it.', 'University endowments own approximately 0.1% of public companies, according to research by Krosinsky.', '“0.1% is not going to move the needle very much.', 'Someone else will buy the stock and life will go on,” he said.', 'Most university funds are invested with private equity funds and hedge funds, rather than broad-ranging mutual or index funds.', 'Of course, the divestment push is about more than directly punishing companies.', 'It’s about a desire to send a message and raise awareness.', 'More than wanting to take down defense contractors like Lockheed Martin and Raytheon, protesters would view divestment as a symbolic victory for justice and equality.', 'Students are“complicit in what this institution does,” graduate student Basil Rodriguez said to CNN Wednesday, noting that students pay tuition.', 'Rodriguez is Palestinian herself, and said her family members have been “murdered and executed” and displaced.', 'Student protesters say the demands to disclose and to divest are interconnected.', 'Protesters argue that many of the financial interests of universities are opaque and the links to Israel may be even greater than officials realize.', '“At the same time, this is only the tip of the iceberg,” Rodriguez said. “', 'We demand full financial transparency.”', 'CNN’s John Towfighi contributed to this report.']",-0.0210135387028766,"“We asked that Columbia University pull all investments away from companies that profit off of the genocide of Palestinians or Israeli companies that profit off of the oppression of Palestinians,” Althea, a student protester at Columbia, told CNN.","At Princeton University, protesters are demanding, among other things, that the Ivy League school end research on weapons of war “used to enable genocide,” according to a flyer at a campus demonstration on Thursday.",-0.5928670540452003,"More than wanting to take down defense contractors like Lockheed Martin and Raytheon, protesters would view divestment as a symbolic victory for justice and equality.","Universities have largely refused to budge on this demand, and experts say divestment may not have a significant impact on the companies themselves.",2024-04-26
-Safety regulator probing whether Tesla’s recall of 2 million vehicles with Autopilot was adequate to fix safety threat,https://edition.cnn.com/2024/04/26/business/tesla-recall-probe-safety-threat/index.html,"
-  Published
-        10:41 AM EDT, Fri April 26, 2024
-    ","Federal safety regulators said they are investigating whether Tesla’s massive recall in December of essentially all of its vehicles on US roads was sufficient to fix the safety threat posed by its “Autopilot” feature.
-    
-            The recall of 2 million Tesla vehicles was ordered by the National Highway Traffic Safety Administration over a software update that is designed to limit the use of its Autopilot feature. The NHTSA had said in December that the two-year probe of roughly 1,000 crashes in which the feature was engaged found it gave drivers a false sense of security and could be easily misused in certain dangerous situations when the technology may be unable to safely navigate the road.
-    
-            The NHTSA said late Thursday that Tesla’s software update recall requires the owner to opt in and allows a driver to readily reverse it. The NHTSA said it is “therefore opening this recall query investigation to further evaluate the adequacy of the remedy.”
-    
-            This latest probe is a blow to Tesla and CEO Elon Musk’s efforts to market the cars as effectively able to drive themselves, a luxury feature that makes the vehicles and the company more valuable. Earlier this week, Musk claimed the company would soon unveil plans for a fleet of “robotaxis,” a service that would give Tesla owners the option to earn money by having their vehicles provide driverless taxi rides when the owners aren’t using them.
-    
-            Tesla and Musk have claimed that cars using Autopilot features — which are available on virtually all Teslas, as well as the more robust “Full Self Driving” feature that comes at a premium price — are safer than human drivers. But NHTSA said its investigation identified at least 13 crashes involving one or more fatalities and many more involving serious injuries in which “foreseeable driver misuse” of the system played an apparent role.
-    
-            The software update ordered in December was designed to give Tesla drivers more warnings when they are not paying attention to the road while using the Autopilot’s “Autosteer” function. Those notifications were to remind drivers to keep their hands on the wheel and pay attention to the road, according to a statement at the time from NHTSA.
-    
-            After the recall, Tesla vehicles with Autosteer turned on were supposed to check on the driver’s attention level more routinely. The feature might disengage when it determines the driver isn’t paying attention, the car is approaching traffic controls or it’s off the highway when Autosteer alone isn’t sufficient to drive the car.
-    
-            Despite the Autopilot name and the way Tesla is marketing the feature, Tesla’s owners manuals say: “Autosteer is intended for use only on highways and limited-access roads with a fully attentive driver.”
-    
-            Tesla, which has not responded to requests for comment from CNN for several years, did not respond to a request for comment on this latest investigation.",CNN,26/04/2024,"['Federal safety regulators said they are investigating whether Tesla’s massive recall in December of essentially all of its vehicles on US roads was sufficient to fix the safety threat posed by its “Autopilot” feature.', 'The recall of 2 million Tesla vehicles was ordered by the National Highway Traffic Safety Administration over a software update that is designed to limit the use of its Autopilot feature.', 'The NHTSA had said in December that the two-year probe of roughly 1,000 crashes in which the feature was engaged found it gave drivers a false sense of security and could be easily misused in certain dangerous situations when the technology may be unable to safely navigate the road.', 'The NHTSA said late Thursday that Tesla’s software update recall requires the owner to opt in and allows a driver to readily reverse it.', 'The NHTSA said it is “therefore opening this recall query investigation to further evaluate the adequacy of the remedy.”', 'This latest probe is a blow to Tesla and CEO Elon Musk’s efforts to market the cars as effectively able to drive themselves, a luxury feature that makes the vehicles and the company more valuable.', 'Earlier this week, Musk claimed the company would soon unveil plans for a fleet of “robotaxis,” a service that would give Tesla owners the option to earn money by having their vehicles provide driverless taxi rides when the owners aren’t using them.', 'Tesla and Musk have claimed that cars using Autopilot features — which are available on virtually all Teslas, as well as the more robust “Full Self Driving” feature that comes at a premium price — are safer than human drivers.', 'But NHTSA said its investigation identified at least 13 crashes involving one or more fatalities and many more involving serious injuries in which “foreseeable driver misuse” of the system played an apparent role.', 'The software update ordered in December was designed to give Tesla drivers more warnings when they are not paying attention to the road while using the Autopilot’s “Autosteer” function.', 'Those notifications were to remind drivers to keep their hands on the wheel and pay attention to the road, according to a statement at the time from NHTSA.', 'After the recall, Tesla vehicles with Autosteer turned on were supposed to check on the driver’s attention level more routinely.', 'The feature might disengage when it determines the driver isn’t paying attention, the car is approaching traffic controls or it’s off the highway when Autosteer alone isn’t sufficient to drive the car.', 'Despite the Autopilot name and the way Tesla is marketing the feature, Tesla’s owners manuals say: “Autosteer is intended for use only on highways and limited-access roads with a fully attentive driver.”', 'Tesla, which has not responded to requests for comment from CNN for several years, did not respond to a request for comment on this latest investigation.']",0.0957556278129312,"The NHTSA had said in December that the two-year probe of roughly 1,000 crashes in which the feature was engaged found it gave drivers a false sense of security and could be easily misused in certain dangerous situations when the technology may be unable to safely navigate the road.",But NHTSA said its investigation identified at least 13 crashes involving one or more fatalities and many more involving serious injuries in which “foreseeable driver misuse” of the system played an apparent role.,-0.2344114383061727,"Tesla and Musk have claimed that cars using Autopilot features — which are available on virtually all Teslas, as well as the more robust “Full Self Driving” feature that comes at a premium price — are safer than human drivers.","The NHTSA had said in December that the two-year probe of roughly 1,000 crashes in which the feature was engaged found it gave drivers a false sense of security and could be easily misused in certain dangerous situations when the technology may be unable to safely navigate the road.",2024-04-26
-How fraudsters are getting fake articles onto Facebook,https://www.bbc.co.uk/news/business-68843985,2024-04-24T23:08:44.000Z,"I have been really busy recently, writing articles about famous people. I've done interviews with the likes of Zoe Ball, Jeremy Clarkson and Chris Tarrant. There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies. And if this all sounds a bit unbelievable, that's because it is - I hadn't done a single one of these interviews, nor written any of the articles. And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind. Instead, the fake stories were all AI-generated scams that appeared on Facebook news feeds in a BBC template, and with my byline. The fraudsters behind them hope that people will click through to the full article, and from there be tempted to invest in a fake investment scheme being promoted on the page. I was curious as to how these scam posts were getting onto Facebook in the first place, so I contacted Tony Gee, a senior consultant at cybersecurity firm Penn Test Partners. After examining the URL, or web address, of one scam page he said it was most likely a paid-for Facebook advert. Mr Gee said he could tell that because the URL had a unique value that Facebook adds to allow it to track outbound clicks. I put this finding to Facebook's owner Meta, who said: ""We don't allow fraudulent activity on our platforms, and have removed the ads brought to our attention."" But how are the scammers able to get the fake ads onto Facebook news feeds in the first place? How can they get past Facebook's automated detection systems? Prof Alan Woodward, a computer scientist at the University of Surrey, says the criminals appear to be using tools that very quickly redirect users to another web page. So when the advert is first placed with Facebook, the link goes through to a harmless page, one that doesn't try to con you out of your cash. But then once this has been approved by Facebook, the fraudsters then put on a redirect that instantly takes people somewhere else - to a web page that very much wants to maliciously dent your bank account. ""If you control a website then it is relatively easy to include a redirect command, such that before someone's browser has had a chance to show them the original webpage, their browser is sent to an alternative one,"" says Prof Woodward. He adds that the fraudsters can quickly and easily keep changing the destination of the redirect. ""As soon as you are able to obfuscate the true nature of a URL, that is manna for scammers,"" he says. This is a type of online fraud called ""cloaking"", whereby malicious adverts are able to get past a social media firm's review stage because the fraudsters have hidden their intentions. Meta says it is using what it has learnt about this technique to improve its automated detection systems. Read more stories on artificial intelligence Margaret (not her real name) is a retiree who lives in Buckinghamshire. She was recently conned out of £250 when she fell victim to fake advert on Instagram, which is also owned by Meta. She had been tempted to click on a link to a fictitious ITV article in which presenter Robert Peston (or rather, a scammer pretending it was him), chats about an investment opportunity he had come across. Margaret who trusts Mr Peston and the ITV brand decided to invest. In addition to paying the £250, Margaret sent off pictures of her passport, and both sides of her credit card. She immediately started getting phone calls. ""It was someone with an American accent welcoming me and saying my money was already making money,"" she tells me. The phone calls kept coming, as did a torrent of emails. Margaret became suspicious, particularly when they started asking her about her income and savings, and when she intended to invest more money. ""I contacted my bank and was refunded but it didn't stop the scammers."" Margaret still receives daily calls, and even started getting them from someone purporting to be from the US National Security Agency promising to help her investigate the scam. ""My own mental health is being impacted and I believe I am at risk, in particular identity theft and indeed potential monetary theft,"" she says. ""They are so mega persistent, and are dangerous pests."" It is an issue that UK consumer watchdog Which? has been looking into. ""Malicious advertisers may mask web links or impersonate trusted brands such as the BBC to evade online platforms' reporting systems, and people often don't know they're looking at a scam or a deepfake until it's too late,"" says Rocio Concha, its director of policy and advocacy. ""It should not fall on consumers to protect themselves from this fraudulent content online. Ofcom must use its powers under the Online Safety Act  [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers."" Ofcom said in a statement that tackling fraud ""is a priority"" for the regulator. ""The UK's new online safety laws will be an important part of making it harder for fraudsters to operate,"" it added. ""Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it."" Nicolas Corry is managing director at financial investigation firm Skadi. He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. ""These companies are making vast amounts of profits, and exposing people to fraud,"" he adds. ""And then it's the finance companies that pay for this, or the victims themselves."" Mr Corry says social media firms should be more rigorously checking each advert, and its links, before they allow them to go up.  ",BBC,24/04/2024,"['I have been really busy recently, writing articles about famous people.', ""I've done interviews with the likes of Zoe Ball, Jeremy Clarkson and Chris Tarrant."", 'There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies.', ""And if this all sounds a bit unbelievable, that's because it is - I hadn't done a single one of these interviews, nor written any of the articles."", 'And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind.', 'Instead, the fake stories were all AI-generated scams that appeared on Facebook news feeds in a BBC template, and with my byline.', 'The fraudsters behind them hope that people will click through to the full article, and from there be tempted to invest in a fake investment scheme being promoted on the page.', 'I was curious as to how these scam posts were getting onto Facebook in the first place, so I contacted Tony Gee, a senior consultant at cybersecurity firm Penn Test Partners.', 'After examining the URL, or web address, of one scam page he said it was most likely a paid-for Facebook advert.', 'Mr Gee said he could tell that because the URL had a unique value that Facebook adds to allow it to track outbound clicks.', 'I put this finding to Facebook\'s owner Meta, who said: ""We don\'t allow fraudulent activity on our platforms, and have removed the ads brought to our attention.""', 'But how are the scammers able to get the fake ads onto Facebook news feeds in the first place?', ""How can they get past Facebook's automated detection systems?"", 'Prof Alan Woodward, a computer scientist at the University of Surrey, says the criminals appear to be using tools that very quickly redirect users to another web page.', ""So when the advert is first placed with Facebook, the link goes through to a harmless page, one that doesn't try to con you out of your cash."", 'But then once this has been approved by Facebook, the fraudsters then put on a redirect that instantly takes people somewhere else - to a web page that very much wants to maliciously dent your bank account. ""', 'If you control a website then it is relatively easy to include a redirect command, such that before someone\'s browser has had a chance to show them the original webpage, their browser is sent to an alternative one,"" says Prof Woodward.', 'He adds that the fraudsters can quickly and easily keep changing the destination of the redirect. ""', 'As soon as you are able to obfuscate the true nature of a URL, that is manna for scammers,"" he says.', 'This is a type of online fraud called ""cloaking"", whereby malicious adverts are able to get past a social media firm\'s review stage because the fraudsters have hidden their intentions.', 'Meta says it is using what it has learnt about this technique to improve its automated detection systems.', 'Read more stories on artificial intelligence Margaret (not her real name) is a retiree who lives in Buckinghamshire.', 'She was recently conned out of £250 when she fell victim to fake advert on Instagram, which is also owned by Meta.', 'She had been tempted to click on a link to a fictitious ITV article in which presenter Robert Peston (or rather, a scammer pretending it was him), chats about an investment opportunity he had come across.', 'Margaret who trusts Mr Peston and the ITV brand decided to invest.', 'In addition to paying the £250, Margaret sent off pictures of her passport, and both sides of her credit card.', 'She immediately started getting phone calls. ""', 'It was someone with an American accent welcoming me and saying my money was already making money,"" she tells me.', 'The phone calls kept coming, as did a torrent of emails.', 'Margaret became suspicious, particularly when they started asking her about her income and savings, and when she intended to invest more money. ""', 'I contacted my bank and was refunded but it didn\'t stop the scammers.""', 'Margaret still receives daily calls, and even started getting them from someone purporting to be from the US National Security Agency promising to help her investigate the scam. ""', 'My own mental health is being impacted and I believe I am at risk, in particular identity theft and indeed potential monetary theft,"" she says. ""', 'They are so mega persistent, and are dangerous pests.""', 'It is an issue that UK consumer watchdog Which?', 'has been looking into. ""', 'Malicious advertisers may mask web links or impersonate trusted brands such as the BBC to evade online platforms\' reporting systems, and people often don\'t know they\'re looking at a scam or a deepfake until it\'s too late,"" says Rocio Concha, its director of policy and advocacy. ""', 'It should not fall on consumers to protect themselves from this fraudulent content online.', 'Ofcom must use its powers under the Online Safety Act [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers.""', 'Ofcom said in a statement that tackling fraud ""is a priority"" for the regulator. ""', 'The UK\'s new online safety laws will be an important part of making it harder for fraudsters to operate,"" it added. ""', 'Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it.""', 'Nicolas Corry is managing director at financial investigation firm Skadi.', 'He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. ""', 'These companies are making vast amounts of profits, and exposing people to fraud,"" he adds. ""', 'And then it\'s the finance companies that pay for this, or the victims themselves.""', 'Mr Corry says social media firms should be more rigorously checking each advert, and its links, before they allow them to go up.']",-0.0567924797953978,"Ofcom must use its powers under the Online Safety Act [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers.""","Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it.""",-0.0352201461791992,Meta says it is using what it has learnt about this technique to improve its automated detection systems.,"He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. """,2024-04-26
-GM earnings top forecasts despite headwinds,https://edition.cnn.com/2024/04/23/business/gm-earnings/index.html,"
-  Updated
-        8:26 AM EDT, Tue April 23, 2024
-    ","General Motors made more money than expected so far this year, even as union contracts reached last year increased labor costs, its customers faced higher interest rates to buy cars and its electric vehicles still aren’t turning a profit — yet.
-    
-            But GM said it expects its North American EV business to turn a profit in the second half of the year. That and strong demand for traditional gasoline-powered vehicles allowed it to raise its earnings forecast for the year.
-    
-            Reaching a profit on its EV business would be a major milestone, which have yet to make the kind of cash that hybrids and gasoline-powered cars make for traditional automakers, who are planning a shift to EVs in the years ahead. GM officials said Tuesday it believes its EV offerings will be even more profitable moving into 2025, despite the slowdown in growth of demand for EVs in its home market.
-    
-            The company said that it had adjusted net income of $3.0 billion, down 2% from the $3.1 billion it reported on that basis a year earlier. But the company announced a $10 billion share repurchase last fall following its labor deal with the United Auto Workers union. The fewer number of shares outstanding allowed it to report improved earnings per share, which is closely watched by investors. That resulted in adjusted earnings per share of $2.62, up 18.6%, easily topping forecasts that EPS would slip to $2.13.
-    
-            Revenue rose 7.6% to $43 billion, which also topped forecasts by $2 billion, despite a 3% slip in the number of vehicles sold to 1.3 million cars and trucks. But that drop in total vehicle sales came from the company pulling back on lower-priced sales to fleet customers, such as rental car companies, and concentrating more on retail sales to consumers. Fleet sales fell to nearly 16% of its overall sales, down from 19 % of year-ago sales.
-    
-            But more significantly it raised its full-year earnings forecast to between $10.1 billion - $11.5 billion, which is up $300 million from its earlier guidance. And it raised its adjusted earnings before interest and taxes guidance for the year by $500 million.
-    
-            The EPS and revenue beats and the stronger guidance helped lift shares of GM by 4% in premarket trading.
-    
-            Still, there have been rising concerns about the demand for electric vehicles weakening. Tesla, the world’s largest producer of EVs, just reported its first year-over-year drop in global sales since the pandemic and announced it is cutting 10% of its staff. And some established automakers, including GM, have pulled back slightly on its EV production plans.
-    
-            But GM said it is seeing strong retail demand for EVs. CFO Paul Jacobson told reporters on a conference call that much of the pullback on GM’s EV plans are a result of it being “more deliberate.”
-    
-            He said that much of the overall slowing in EV demand is due to Hertz announcing it would stop buying EVs in the near term and sell off 20,000 of the electric vehicles already in its fleet.
-    
-            “When you start to break down some detailed registration info, retail EVs [sales] are not down as much as a lot of folks think,” he noted. “The retail customer is actually holding up pretty strong. We feel good where we’re going with the 200,000 to 300,000 units of [EV] production this year.”
-    
-            Profits across the auto industry have been helped by limited supplies of some raw materials, which cut production of traditional gasoline powered cars and trucks despite strong consumer demand resulting in record new car prices.
-    
-            Those production constraints are largely a thing of the past, and increased production should help to push down pricing. Jacobson told reporters that the company is still looking at between a 2% to 2.5% decline in average pricing over the course of the year although he added that with continued strong consumer demand, “We haven’t seen it yet.”
-    
-            “Our consumer has been remarkably resilient in this period of higher interest rates,” he said. “We think in this environment we can continue to perform.”
-    
-            This is a developing story. It will be updated.",CNN,23/04/2024,"['General Motors made more money than expected so far this year, even as union contracts reached last year increased labor costs, its customers faced higher interest rates to buy cars and its electric vehicles still aren’t turning a profit — yet.', 'But GM said it expects its North American EV business to turn a profit in the second half of the year.', 'That and strong demand for traditional gasoline-powered vehicles allowed it to raise its earnings forecast for the year.', 'Reaching a profit on its EV business would be a major milestone, which have yet to make the kind of cash that hybrids and gasoline-powered cars make for traditional automakers, who are planning a shift to EVs in the years ahead.', 'GM officials said Tuesday it believes its EV offerings will be even more profitable moving into 2025, despite the slowdown in growth of demand for EVs in its home market.', 'The company said that it had adjusted net income of $3.0 billion, down 2% from the $3.1 billion it reported on that basis a year earlier.', 'But the company announced a $10 billion share repurchase last fall following its labor deal with the United Auto Workers union.', 'The fewer number of shares outstanding allowed it to report improved earnings per share, which is closely watched by investors.', 'That resulted in adjusted earnings per share of$2.62, up 18.6%, easily topping forecasts that EPS would slip to $2.13.', 'Revenue rose 7.6% to $43 billion, which also topped forecasts by $2 billion, despite a 3% slip in the number of vehicles sold to 1.3 million cars and trucks.', 'But that drop in total vehicle sales came from the company pulling back on lower-priced sales to fleet customers, such as rental car companies, and concentrating more on retail sales to consumers.', 'Fleet sales fell to nearly 16% of its overall sales, down from 19 % of year-ago sales.', 'But more significantly it raised its full-year earnings forecast to between $10.1 billion - $11.5 billion, which is up $300 million from its earlier guidance.', 'And it raised its adjusted earnings before interest and taxes guidance for the year by $500 million.', 'The EPS and revenue beats and the stronger guidance helped lift shares of GM by 4% in premarket trading.', 'Still, there have been rising concerns about the demand for electric vehicles weakening.', 'Tesla, the world’s largest producer of EVs, just reported its first year-over-year drop in global sales since the pandemic and announced it is cutting 10% of its staff.', 'And some established automakers, including GM, have pulled back slightly on its EV production plans.', 'But GM said it is seeing strong retail demand for EVs.', 'CFO Paul Jacobson told reporters on a conference call that much of the pullback on GM’s EV plans are a result of it being “more deliberate.”', 'He said that much of the overall slowing in EV demand is due to Hertz announcing it would stop buying EVs in the near term and sell off 20,000 of the electric vehicles already in its fleet.', '“When you start to break down some detailed registration info, retail EVs [sales] are not down as much as a lot of folks think,”he noted. “', 'The retail customer is actually holding up pretty strong.', 'We feel good where we’re going with the 200,000 to 300,000 units of [EV] production this year.”', 'Profits across the auto industry have been helped by limited supplies of some raw materials, which cut production of traditional gasoline powered cars and trucks despite strong consumer demand resulting in record new car prices.', 'Those production constraints are largely a thing of the past, and increased production should help to push down pricing.', 'Jacobson told reporters that the company is still looking at between a 2% to 2.5% decline in average pricing over the course of the year although he added that with continued strong consumer demand, “We haven’t seen it yet.”', '“Our consumer has been remarkably resilient in this period of higher interest rates,” he said. “', 'We think in this environment we can continue to perform.”', 'This is a developing story.', 'It will be updated.']",0.245906275718397,"The fewer number of shares outstanding allowed it to report improved earnings per share, which is closely watched by investors.","But that drop in total vehicle sales came from the company pulling back on lower-priced sales to fleet customers, such as rental car companies, and concentrating more on retail sales to consumers.",0.2171821892261505,The EPS and revenue beats and the stronger guidance helped lift shares of GM by 4% in premarket trading.,"The company said that it had adjusted net income of $3.0 billion, down 2% from the $3.1 billion it reported on that basis a year earlier.",2024-04-26
-Europe is beating inflation. Why can’t America declare victory?,https://edition.cnn.com/2024/04/26/economy/us-europe-inflation-differences/index.html,"
-  Updated
-        11:11 AM EDT, Fri April 26, 2024
-    ","Inflation may have tumbled from multi-decade highs on both sides of the Atlantic, but progress has stalled in the United States, with the Federal Reserve now expected to start cutting interest rates well after its European counterpart.
-    
-            Annual US inflation, as measured by the Fed’s preferred gauge, the Personal Consumption Expenditures index, came in at 2.7% in March, accelerating from 2.5% in February. The Fed aims to keep inflation at 2% over the longer run.
-    
-            Another measure of US inflation, the Consumer Price Index, has shown the same upward trend: In March, the CPI rose 3.5% compared with the same month in 2023, up from 3.2% in February.
-    
-            Meanwhile, among the 20 countries that use the euro, annual consumer price inflation has slowed steadily since the start of the year. It stood at 2.4% in March.
-    
-            The European Central Bank (ECB) looks set to start cutting interest rates in June, three months before the Fed is forecast to do the same, based on market expectations.
-    
-            There are even indications that the Fed may do something that, until quite recently, seemed inconceivable — raise the cost of borrowing. Fed Governor Michelle Bowman said earlier this month that she would favor a rate hike “should progress on inflation stall or even reverse.”
-    
-            So why does the United States appear to have a bigger inflation problem than Europe?
-    
-            Some economists argue there isn’t actually much daylight between the US and European rates of inflation, pointing to a quirk in the US measures.
-    
-            Unlike the ECB’s preferred gauge, both the PCE and the CPI include owner-occupiers’ housing costs — essentially a measure of how much money you could earn from renting out your home and hence forego if you live in it.
-    
-            The measure is designed to track inflation in the real estate market while accounting for the fact that most Americans own their homes. But people don’t actually feel these hypothetical housing costs, said Paul Donovan, chief economist at UBS Global Wealth Management.
-    
-            The weight given to owner-occupiers’ housing costs is much bigger in the US CPI than in the PCE — 32% versus 13%, according to consultancy Capital Economics — but both weights are still much larger than the 0% afforded to these costs in the eurozone’s key measure of consumer prices.
-    
-            This transatlantic discrepancy exaggerates the recent differences between US and eurozone inflation, according to Simon MacAdam, deputy chief global economist at Capital Economics.
-    
-            When using a different measure that, among other adjustments, strips out those hypothetical housing costs, MacAdam finds that core inflation rates — which exclude energy and food prices — have been “very similar” in the United States and Europe over the past six months.
-    
-            “The US hasn’t got a fundamental problem of broad-based excessive price pressure, contrary to some of the recent narrative from commentators,” he wrote in a note last week.
-    
-            So if the levels of inflation are fundamentally similar on both sides of the Atlantic, then why are their respective central banks looking to start cutting interest rates at different times?
-    
-            The simple answer is that, as MacAdam put it, “central banks will ultimately alter monetary policy in response to developments in the measure of inflation they target, not harmonized or adjusted measures.”
-    
-            But it’s more complicated than that. “The (transatlantic) divergence is bigger when it comes to (economic) growth,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.
-    
-            The International Monetary Fund expects the US economy to grow 2.7% this year, whereas for the eurozone it sees only a 0.8% expansion.
-    
-            US employers are hiring at a historic clip, adding 303,000 jobs in March. Washington has also spent a lot more than European governments in recent years to support consumers and businesses through the pandemic, something that has kept consumer demand particularly robust in the United States.
-    
-            Despite preliminary data Thursday that showed weaker-than-expected US growth in the first quarter, Treasury Secretary Janet Yellen told Reuters that the economy was still “firing on all cylinders.”
-    
-            Europe’s economy is much weaker due, in part, to the lingering impact of an energy crisis. When Russia — which once provided more than 40% of Europe’s pipeline gas imports — launched its full-scale invasion of Ukraine in 2022, the region’s natural gas prices shot up to all-time highs.
-    
-            As a result, annual inflation in the eurozone peaked at a much higher level than the PCE. The two rates hit 10.6% and 7.1% respectively in 2022.
-    
-            The strength of the US economy makes it more likely that high inflation will make a sustained comeback, Brzeski said, which is making the Fed more hesitant than the ECB to start cutting rates in the summer.
-    
-            Both the United States and the eurozone are grappling with labor shortages, which is forcing employers to hike wages in order to attract and keep workers and fueling inflation in the services sector, he noted. But, more broadly, US consumer demand appears stronger.
-    
-            “We see the savings ratio of US households starting to come down, which means that people in the US are willing to tap into their savings in order to spend,” he said. “In general, European households are a bit more cautious.”
-    
-            Davide Oneglia, director of European and global macroeconomics at research firm TS Lombard, takes a similar view. “The US consumer is more eager to spend because maybe he sees better prospects for himself in the labor market,” he told CNN.",CNN,26/04/2024,"['Inflation may have tumbled from multi-decade highs on both sides of the Atlantic, but progress has stalled in the United States, with the Federal Reserve now expected to start cutting interest rates well after its European counterpart.', 'Annual US inflation, as measured by the Fed’s preferred gauge, the Personal Consumption Expenditures index, came in at 2.7% in March, accelerating from 2.5% in February.', 'The Fed aims to keep inflation at 2% over the longer run.', 'Another measure of US inflation, the Consumer Price Index, has shown the same upward trend: In March, the CPI rose 3.5% compared with the same month in 2023, up from 3.2% in February.', 'Meanwhile, among the 20 countries that use the euro, annual consumer price inflation has slowed steadily since the start of the year.', 'It stood at 2.4% in March.', 'The European Central Bank (ECB) looks set to start cutting interest rates in June, three months before the Fed is forecast to do the same, based on market expectations.', 'There are even indications that the Fed may do something that, until quite recently, seemed inconceivable — raise the cost of borrowing.', 'Fed Governor Michelle Bowman said earlier this month that she would favor a rate hike “should progress on inflation stall or even reverse.”', 'So why does the United States appear to have a bigger inflation problem than Europe?', 'Some economists argue there isn’t actually much daylight between the US and European rates of inflation, pointing to a quirk in the US measures.', 'Unlike the ECB’s preferred gauge, both the PCE and the CPI include owner-occupiers’ housing costs — essentially a measure of how much money you could earn from renting out your home and hence forego if you live in it.', 'The measure is designed to track inflation in the real estate market while accounting for the fact that most Americans own their homes.', 'But people don’t actually feel these hypothetical housing costs, said Paul Donovan, chief economist at UBS Global Wealth Management.', 'The weight given to owner-occupiers’ housing costs is much bigger in the US CPIthan in the PCE — 32% versus 13%, according to consultancy Capital Economics — but both weights are still much larger than the 0% afforded to these costs in the eurozone’s key measure of consumerprices.', 'This transatlantic discrepancy exaggerates the recent differences between US and eurozone inflation, according to Simon MacAdam, deputy chief global economist at Capital Economics.', 'When using a different measure that, among other adjustments, strips out those hypothetical housing costs, MacAdam finds that core inflation rates — which exclude energy and food prices — have been “very similar” in the United States and Europe over the past six months.', '“The US hasn’t got a fundamental problem of broad-based excessive price pressure, contrary to some of the recent narrative from commentators,” he wrote in a note last week.', 'So if the levels of inflation are fundamentally similar on both sides of the Atlantic, then why are their respective central banks looking to start cutting interest rates at different times?', 'The simple answer is that, as MacAdam put it, “central banks will ultimately alter monetary policy in response to developments in the measure of inflation they target, not harmonized or adjusted measures.”', 'But it’s more complicated than that. “', 'The (transatlantic) divergence is bigger when it comes to (economic) growth,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.', 'The International Monetary Fund expects the US economy to grow 2.7% this year, whereas for the eurozone it sees only a 0.8% expansion.', 'US employers are hiring at a historic clip, adding 303,000 jobs in March.', 'Washington has also spent a lot more than European governments in recent years to support consumers and businesses through the pandemic, something that has kept consumer demand particularly robust in the United States.', 'Despite preliminary data Thursday that showed weaker-than-expected US growth in the first quarter, Treasury Secretary Janet Yellen told Reuters that the economy was still “firing on all cylinders.”', 'Europe’s economy is much weaker due, in part, to the lingering impact of an energy crisis.', 'When Russia —which once provided more than 40% of Europe’s pipeline gas imports — launched its full-scale invasion of Ukraine in 2022, the region’s natural gas prices shot up to all-time highs.', 'As a result, annual inflation in the eurozone peaked at a much higher level than the PCE.', 'The two rates hit 10.6% and 7.1% respectively in 2022.', 'The strength of the US economy makes it more likely that high inflation will make a sustained comeback, Brzeski said, which is making the Fed more hesitant than the ECB to start cutting rates in the summer.', 'Both the United States and the eurozone are grappling with labor shortages, which is forcing employers to hike wages in order to attract and keep workers and fueling inflation in the services sector, he noted.', 'But, more broadly, US consumer demand appears stronger.', '“We see the savings ratio of US households starting to come down, which means that people in the US are willing to tap into their savings in order to spend,” he said. “', 'In general, European households are a bit more cautious.”', 'DavideOneglia,director of European and global macroeconomics at research firm TS Lombard, takes a similar view. “', 'The US consumer is more eager to spend because maybe he sees better prospects for himself in the labor market,” he told CNN.']",0.1330937652636778,"Inflation may have tumbled from multi-decade highs on both sides of the Atlantic, but progress has stalled in the United States, with the Federal Reserve now expected to start cutting interest rates well after its European counterpart.","Europe’s economy is much weaker due, in part, to the lingering impact of an energy crisis.",0.0967582490133202,"Washington has also spent a lot more than European governments in recent years to support consumers and businesses through the pandemic, something that has kept consumer demand particularly robust in the United States.","Inflation may have tumbled from multi-decade highs on both sides of the Atlantic, but progress has stalled in the United States, with the Federal Reserve now expected to start cutting interest rates well after its European counterpart.",2024-04-26
-A coal billionaire is building the world’s biggest clean energy plant and it’s five times the size of Paris,https://edition.cnn.com/2024/03/19/business/india-adani-green-energy-plant-climate-intl-hnk/index.html,"
-  Updated
-        2:36 PM EDT, Fri April 26, 2024
-    ","Five times the size of Paris. Visible from space. The world’s biggest energy plant. Enough electricity to power Switzerland.
-    
-            The scale of the project transforming swathes of barren salt desert on the edge of western India into one of the most important sources of clean energy anywhere on the planet is so overwhelming that the man in charge can’t keep up.
-    
-            “I don’t even do the math any more,” Sagar Adani told CNN in an interview last week.
-    
-            Adani is executive director of Adani Green Energy Limited (AGEL). He’s also the nephew of Gautam Adani, Asia’s second richest man, whose $100 billion fortune stems from the Adani Group, India’s biggest coal importer and a leading miner of the dirty fuel. Founded in 1988, the conglomerate has businesses in fields ranging from ports and thermal power plants to media and cements.
-    
-            Its clean energy unit AGEL is building the sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion. It will be the world’s biggest renewable park when it is finished in about five years, and should generate enough clean electricity to power 16 million Indian homes.
-    
-            The success of the Khavda Renewable Energy Park is critical to India’s efforts to reduce pollution and hit its climate goals while meeting the burgeoning energy needs of the world’s most populous nation and fastest-growing major economy. Coal still accounts for 70% of the electricity India generates.
-    
-            Situated just 12 miles from one of the world’s most dangerous borders separating India and Pakistan, the park will cover more than 200 square miles and be the planet’s largest power plant regardless of the energy source, AGEL said.
-    
-            “A region so large, a region that is so unencumbered, there’s no wildlife, there’s no vegetation, there’s no habitation. There is no better alternative use of that land,” said Adani.
-    
-            The group’s big green plans haven’t been dented by the turbulent year it has had since January 2023, when an American short-seller Hindenburg Research accused it of engaging in fraud over decades.
-    
-            The Indian mining-to-media conglomerate denounced Hindenburg’s report as “baseless” and “malicious.” But that failed to halt a stunning stock market meltdown that, at one point, wiped more than $100 billion off the value of its listed companies. Gautam Adani’s personal fortune was also hammered, collapsing by more than $80 billion in the month following the release of the report.
-    
-            But the tycoon has since bounced back and the group is now pouring billions into the clean energy sector.
-    
-            It plans to invest $100 billion into energy transition over the next decade, with 70% of the investments ear-marked for clean energy.
-    
-            Adani Group’s clean energy pivot comes at a time when India has set itself some ambitious climate goals. Prime Minister Narendra Modi has promised that renewable sources such as solar and wind power will fulfil 50% of India’s energy requirements by the end of this decade.
-    
-            In 2021, Modi pledged India would achieve net zero emissions by 2070, which is still a couple of decades later than developed economies.
-    
-            The government has set a target of 500 gigawatts (GW) of non-fossil fuel electricity generating capacity by 2030. AGEL, the country’s largest renewable energy company, aims to provide at least 9% of that, with nearly 30 GW generated from its Khavda park in Gujarat alone.
-    
-            Failing to transition to renewable energy is not an option, said Adani.
-    
-            “There is no choice for India but to start doing things at a previously unimagined size and scale,” the 30-year-old said.
-    
-            That’s because energy demand is going to explode in the coming years.
-    
-            India is the world’s third-largest energy consuming country, although its energy use and emissions per person are less than half the world average, data from the Paris-based International Energy Agency (IEA) shows.
-    
-            That could change rapidly. Thanks to rising incomes, energy demand has doubled since 2000, with 80% of it still being met by coal, oil and solid biomass. Over the next three decades, the rapidly-expanding economy will see the largest energy demand growth of any country in the world, the IEA said.
-    
-            “If India does what China did, if India does what Europe did, if India does what the US did, then we are all in for a very, very bleak climatic future,” said Adani, referring to the historic use of fossil fuels as those countries developed.
-    
-            His dire predictions are not dramatic. India is comfortably placed to grow at an annual rate of at least 6% in the coming few years, analysts say, and may become the world’s third largest economy before the end of this decade.
-    
-            As it develops and modernizes, its urban population will shoot up, leading to a massive rise in the construction of homes, offices, shops and other buildings. According to analysts, India is set to add the equivalent of a London to its urban population every year for the next 30 years.
-    
-            Electricity demand is expected to skyrocket in the coming years because of factors ranging from improved living standards to climate change. The latter has been fueling deadly heatwaves across India, and as a result, air conditioner ownership is set to see a sharp spike in the coming years.
-    
-            By 2050, India’s total electricity demand from residential air conditioners is set to exceed the total energy consumption in the whole of Africa today, the IEA said.
-    
-            India cannot rely on fossil fuels for its burgeoning needs without disastrous consequences for efforts to tackle the climate crisis.
-    
-            “If you imagine 800 GW of coal-fired thermal capacity being added … this by itself will kill all other sustainable energy initiatives happening all across the world, in terms of carbon emissions,” said Adani.
-    
-            The conglomerate’s green plans are impressive, but climate experts are critical of its continued massive investments in fossil fuels.
-    
-            “[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance.
-    
-            The Adani Group is not only one of the largest developers and operators of coal mines in India, but also operates the controversial Carmichael Coal Mine in Australia, which has faced fierce opposition from climate change campaigners who say it is a “death sentence” for the Great Barrier Reef.
-    
-            “Rather than ploughing billions into new fossil fuel projects, India would be far better served if Adani put 100% of its efforts and resources into developing low-cost zero emissions technologies,” Buckley added.
-    
-            That is not an option at the moment, said Adani.
-    
-            More than 600 million people in India will be “coming into middle income and upper income over the next decade, decade and a half,” he said. “They cannot be deprived of basic needs of energy. ”
-    
-            Everyone would be happy if we could “have a 100% of that being provided from sustainable energy sources …[but]… practically, that’s not an option” at the moment, he added.
-    
-            He also said that activists in developed nations, which have historically emitted more greenhouse gases, are often unable to understand the staggering challenge facing India to grow its economy and its clean energy industry at the same time.
-    
-            “I think it’s also very important to respect the fact that every country has its own right to make sure that the people of their own country are well-served from an energy perspective,” Adani said.
-    
-            “So is India doing a bit of coal? Yes, of course India is. But is India doing a massive amount of renewables? Yes, there’s no question,” he added",CNN,26/04/2024,"['Five times the size of Paris.', 'Visible from space.', 'The world’s biggest energy plant.', 'Enough electricity to power Switzerland.', 'The scale of the project transforming swathes of barren salt desert on the edge of western India into one of the most important sources of clean energy anywhere on the planet is so overwhelming that the man in charge can’t keep up.', '“I don’t even do the math any more,” Sagar Adani told CNN in an interview last week.', 'Adani is executive director of Adani Green Energy Limited (AGEL).', 'He’s also the nephew of Gautam Adani, Asia’s second richest man, whose $100 billion fortune stems from the Adani Group, India’s biggest coal importer and a leading miner of the dirty fuel.', 'Founded in 1988, the conglomerate has businesses in fields ranging from ports and thermal power plants to media and cements.', 'Its clean energy unit AGEL is building the sprawling solar and wind power plant in the western Indian state of Gujarat at a cost of about $20 billion.', 'It will be the world’s biggest renewable park when it is finished in about five years, and should generate enough clean electricity to power 16 million Indian homes.', 'The success of the Khavda Renewable Energy Park is critical to India’s efforts to reduce pollution and hit its climate goals while meeting the burgeoning energy needs of the world’s most populous nation and fastest-growing major economy.', 'Coal still accounts for 70% of the electricity India generates.', 'Situated just 12 miles from one of the world’s most dangerous borders separating India and Pakistan, the park will cover more than 200 square miles and be the planet’s largest power plant regardless of the energy source, AGEL said.', '“A region so large, a region that is so unencumbered, there’s no wildlife, there’s no vegetation, there’s no habitation.', 'There is no better alternative use of that land,” said Adani.', 'The group’s big green plans haven’t been dented by the turbulent year it has had since January 2023, when an American short-seller Hindenburg Research accused it ofengaging in fraud over decades.', 'The Indian mining-to-media conglomerate denounced Hindenburg’s report as “baseless” and “malicious.”', 'But that failed to halt a stunning stock market meltdown that, at one point, wiped more than $100 billion off the value of its listed companies.', 'Gautam Adani’s personal fortune was also hammered, collapsing bymore than $80 billionin the month following the release of the report.', 'But the tycoon has since bounced back and the group is now pouring billions into the clean energy sector.', 'It plans to invest $100 billion into energy transition over the next decade, with 70% of the investments ear-marked for clean energy.', 'Adani Group’s clean energy pivot comes at a time when India has set itself some ambitious climate goals.', 'Prime Minister Narendra Modi has promised that renewable sources such as solar and wind power will fulfil 50% of India’s energy requirements by the end of this decade.', 'In 2021, Modi pledged India would achieve net zero emissions by2070, which is still a couple of decades later than developed economies.', 'The government has set a target of 500 gigawatts (GW) of non-fossil fuel electricity generating capacity by 2030.', 'AGEL, the country’s largest renewable energy company, aims to provide at least 9% of that, with nearly 30 GW generated from its Khavda park in Gujarat alone.', 'Failing to transition to renewable energy is not an option, said Adani.', '“There is no choice for India but to start doing things at a previously unimagined size and scale,” the 30-year-old said.', 'That’s because energy demand is going to explode in the coming years.', 'India is the world’s third-largest energy consuming country, although its energy use andemissions per personare less than half the world average, data from the Paris-based International Energy Agency (IEA) shows.', 'That could change rapidly.', 'Thanks to rising incomes, energy demand has doubled since 2000, with 80% of it still being met by coal, oil and solid biomass.', 'Over the next three decades, the rapidly-expanding economy will see the largest energy demand growth of any country in the world, the IEA said.', '“If India does what China did, if India does what Europe did, if India does what the US did, then we are all in for a very, very bleak climatic future,” said Adani, referring to thehistoric use of fossil fuels as those countries developed.', 'His dire predictions are not dramatic.', 'India is comfortably placed to grow at an annual rate of at least 6% in the coming few years,analysts say, and may become the world’s third largest economy before the end of this decade.', 'As it develops and modernizes, its urban population will shoot up, leading to a massive rise in the construction of homes, offices, shops and other buildings.', 'According to analysts, India is set toadd the equivalent of a London to its urban population every year for the next 30 years.', 'Electricity demand is expected to skyrocket in the coming years because of factors ranging from improved living standards to climate change.', 'The latter has been fueling deadlyheatwavesacross India, and as a result, air conditioner ownership is set to see a sharp spike in the coming years.', 'By 2050, India’s total electricity demand from residential air conditioners is set to exceed the total energy consumption in the whole of Africa today, the IEA said.', 'India cannot rely on fossil fuels for its burgeoning needs without disastrous consequences for efforts to tackle the climate crisis.', '“If you imagine 800 GW of coal-fired thermal capacity being added … this by itself will kill all other sustainable energy initiatives happening all across the world, in terms of carbon emissions,” said Adani.', 'The conglomerate’s green plans are impressive, but climate experts are critical of its continued massive investments in fossil fuels.', '“[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance.', 'The Adani Group is not only one of the largest developers and operators of coal mines in India, but also operates the controversial Carmichael Coal Mine in Australia, which has faced fierce opposition from climate change campaigners who say it is a“death sentence”for the Great Barrier Reef.', '“Rather than ploughing billions into new fossil fuel projects, India would be far better served if Adani put 100% of its efforts and resources into developing low-cost zero emissions technologies,” Buckley added.', 'That is not an option at the moment, said Adani.', 'More than 600 million people in India will be “coming into middle income and upper income over the next decade, decade and a half,” he said. “', 'They cannot be deprived of basic needs of energy.”', 'Everyone would be happy if we could “have a 100% of that being provided from sustainable energy sources …[but]… practically, that’s not an option” at the moment, he added.', 'He also said that activists in developed nations, which have historicallyemitted moregreenhouse gases, are often unable to understand the staggering challenge facing India to grow its economy and its clean energy industry at the same time.', '“I think it’s also very important to respect the fact that every country has its own right to make sure that the people of their own country are well-served from an energy perspective,” Adani said.', '“So is India doing a bit of coal?', 'Yes, of course India is.', 'But is India doing a massive amount of renewables?', 'Yes, there’s no question,” he added']",0.1483365072376152,"“I think it’s also very important to respect the fact that every country has its own right to make sure that the people of their own country are well-served from an energy perspective,” Adani said.","“If you imagine 800 GW of coal-fired thermal capacity being added … this by itself will kill all other sustainable energy initiatives happening all across the world, in terms of carbon emissions,” said Adani.",0.2314466858903567,"India is comfortably placed to grow at an annual rate of at least 6% in the coming few years,analysts say, and may become the world’s third largest economy before the end of this decade.","Gautam Adani’s personal fortune was also hammered, collapsing bymore than $80 billionin the month following the release of the report.",2024-04-26
-NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html,"
-  Updated
-        7:44 PM EDT, Tue March 26, 2024
-    ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.
-    
-            “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”
-    
-            “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”
-    
-            Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.
-    
-            The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.
-    
-            McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.
-    
-            As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.”
-    
-            In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.
-    
-            NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.
-    
-            Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”
-    
-            “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.
-    
-            The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”
-    
-            “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”
-    
-            Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.
-    
-            “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.
-    
-            Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.
-    
-            “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.
-    
-            “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“
-    
-            The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.
-    
-            In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”
-    
-            “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-04-26
-3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html,"
-  Published
-        6:30 AM EDT, Tue March 26, 2024
-    ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.
-    
-            That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.
-    
-            But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.
-    
-            The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”
-    
-            But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users:
-    
-            If found liable, the company could be forced to change a number of things.
-    
-            One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.
-    
-             According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.
-    
-            “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.”
-    
-            At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway.
-    
-            The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.
-    
-            Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.
-    
-            The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.
-    
-            In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.
-    
-            The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same.
-    
-            Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.
-    
-            Chatterjee said making this change would have both positives and negatives.
-    
-            “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.
-    
-            The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.
-    
-            The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.
-    
-            David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.
-    
-            “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.
-    
-            Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.
-    
-            “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.
-    
-            But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users:  If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-04-26
-NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html,"
-  Published
-        8:05 AM EDT, Tue March 26, 2024
-    ","Cesar Conde has a decision to make — and it’s not an especially difficult one.
-    
-            The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.
-    
-            Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.
-    
-            Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.
-    
-            While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing.
-    
-            It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.
-    
-            As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.
-    
-            The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)
-    
-            But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.
-    
-            Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.
-    
-            At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this?
-    
-            The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.
-    
-            But no such announcement came.
-    
-            Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.
-    
-            All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is.
-    
-            In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.
-    
-            “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.”
-    
-            “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-04-26
-TikTok suspends TikTok Lite rewards program in the EU amid regulatory scrutiny,https://edition.cnn.com/2024/04/25/tech/tiktok-suspends-tiktok-lite-program-eu/index.html,"
-  Updated
-        11:35 PM EDT, Thu April 25, 2024
-    ","TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators.
-    
-            The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for engaging with TikTok content and app features.
-    
-            TikTok said it was “voluntarily” suspending the rewards program after the European Commission announced Monday it could impose fines and a mandatory suspension over concerns that the feature may drive addiction by encouraging users to interact with the platform more.
-    
-            “TikTok always seeks to engage constructively with the EU Commission and other regulators,” TikTok said in a post on X. “We are therefore voluntarily suspending the rewards functions in TikTok Lite while we address the concerns that they have raised.”
-    
-            The EU warnings to TikTok reflected an exercise of new oversight powers granted by the Digital Services Act, the trading bloc’s recently enacted law governing online platforms. In opening a probe into TikTok Lite earlier this week, the European Commission said that TikTok could be fined for failing to provide information it owes to the Commission about the app, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.
-    
-            Failure to hand over the risk assessment and risk mitigation report could result in fines of up to 1% of TikTok’s global annual revenue and “periodic penalties” of up to 5% of TikTok’s average daily revenue, the Commission said previously. TikTok also faces further, additional fines of up to 6% of its global annual revenue if the TikTok Lite feature is determined to be in violation of the DSA.
-    
-            TikTok’s move to suspend TikTok Lite’s reward features in Europe, meanwhile, comes as it faces its biggest threat yet to its United States operations. President Joe Biden on Wednesday signed a bill that could lead to a nationwide TikTok ban, after Congress passed the bill earlier this week as part of a wide-ranging foreign aid package meant to support Israel and Ukraine. Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely.",CNN,25/04/2024,"['TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators.', 'The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for engaging with TikTok content and app features.', 'TikTok said it was “voluntarily” suspending the rewards program after the European Commissionannounced Mondayit could impose fines and a mandatory suspension over concerns that the feature may drive addiction by encouraging users to interact with the platform more.', '“TikTok always seeks to engage constructively with the EU Commission and other regulators,” TikTok said in apost on X. “We are therefore voluntarily suspending the rewards functions in TikTok Lite while we address the concerns that they have raised.”', 'The EU warnings to TikTok reflected an exercise of new oversight powers granted by the Digital Services Act, the trading bloc’s recently enacted law governing online platforms.', 'In opening a probe into TikTok Lite earlier this week, the European Commission said that TikTok could be fined for failing to provide information it owes to the Commission about the app, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.', 'Failure to hand over the risk assessment and risk mitigation report could result in fines of up to 1% of TikTok’s global annual revenue and “periodic penalties” of up to 5% of TikTok’s average daily revenue, the Commission said previously.', 'TikTok also faces further, additional fines of up to 6% of its global annual revenue if the TikTok Lite feature is determined to be in violation of the DSA.', 'TikTok’s move to suspend TikTok Lite’s reward features in Europe, meanwhile, comes as it faces its biggest threat yet to its United States operations.', 'President Joe Biden on Wednesday signed a bill that could lead to a nationwide TikTok ban, after Congress passed the bill earlier this week as part of a wide-ranging foreign aid package meant to support Israel and Ukraine.', 'Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely.']",-0.0549527111153452,TikTok said it was “voluntarily” suspending the rewards program after the European Commissionannounced Mondayit could impose fines and a mandatory suspension over concerns that the feature may drive addiction by encouraging users to interact with the platform more.,"In opening a probe into TikTok Lite earlier this week, the European Commission said that TikTok could be fined for failing to provide information it owes to the Commission about the app, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.",-0.9905916094779968,,TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators.,2024-04-26
-"The electric car revolution is on track, says IEA",https://edition.cnn.com/2024/04/23/cars/electric-vehicle-sales-forecast-iea/index.html,"
-  Updated
-        6:55 AM EDT, Tue April 23, 2024
-    ","Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency.
-    
-            In a report Tuesday, the IEA projected that “surging demand” for EVs over the next decade was set “to remake the global auto industry and significantly reduce oil consumption for road transport.”
-    
-            It expects half of all cars sold globally to be electric by 2035, up from more than one in five this year, provided charging infrastructure keeps pace. The IEA includes battery electric vehicles and plug-in hybrid vehicles in its definition of EVs.
-    
-            The agency’s bullish long-term outlook for EVs — based on current government policies — comes just days after the world’s biggest battery EV maker Tesla slashed its prices in major markets to counter declining sales and growing competition from Chinese upstarts and established carmakers.
-    
-            Recent negative headlines about slowing EV penetration are out of step with positive global trends, according to IEA executive director Fatih Birol. The data “does not at all show a reverse of the growth of electric cars. It shows an extremely robust increase of global electric car sales,” he told reporters Tuesday.
-    
-            The growth is not driven just by Chinese buyers. The number of new battery electric cars sold in the European Union rose almost 4% in the first quarter of this year compared with the same period in 2023, according to the European Automobile Manufacturers’ Association.
-    
-            In a statement, Birol said: “Rather than tapering off, the global EV revolution appears to be gearing up for a new phase of growth.”
-    
-            Despite the upbeat trends, EV makers are grappling with slim profit margins, squeezed by price wars as competition heats.
-    
-            In the past few days, Tesla and Chinese EV maker Li Auto have cut prices on major models in China, the world’s biggest EV market, with Tesla also cutting prices in Germany and the United States.
-    
-            Earlier this month, Tesla posted its first annual drop in sales in nearly four years. The company’s stock has plunged more than 40% so far this year. China’s BYD has also stumbled after it briefly surpassed Tesla as global market leader, with its sales falling to about 300,000 in the first quarter from more than 525,000 in the final three months of 2023.
-    
-            Automakers may be hurting from the price cuts but they will be crucial to increasing the take-up of EVs around the world, according to the IEA, which emphasized that the “pace of the transition to EVs… will hinge on affordability.”
-    
-            In China, more than 60% of EVs sold last year were less expensive than conventional cars, but in Europe and the United States the purchase price for new cars with internal combustion engines remains lower on average.
-    
-            “Intensifying market competition and improving battery technologies are expected to reduce (EV) prices in the coming years,” the IEA said.
-    
-            “Growing electric car exports from Chinese automakers, which accounted for more than half of all electric car sales in 2023, could add to downward pressure on purchase prices,” it added.
-    
-            Last year, Chinese carmakers accounted for more than half of global electric car sales, compared with their 10% share of the conventional car market. “China is the de facto leader of electric car manufacturing around the world,” Birol said.
-    
-            Concerns about soaring imports of Chinese EVs prompted the European Union to open an investigation late last year into China’s state support for EV makers. The auto industry is a major employer in Europe and crucial to the region’s biggest economy, Germany, which is home to Volkswagen, Audi and BMW.
-    
-            EV sales in China will account for almost 60% of the global total this year and about 45% of all car sales in the country.
-    
-            By 2030, almost one in three cars on the roads in China is set to be electric, up from fewer than one in 10 last year, according to the IEA. That compares with its forecast for 17% in the United States and 18% in the European Union, compared with just over 2% and almost 4% respectively last year.
-    
-            “This shift will have major ramifications for both the auto industry and the energy sector,” Birol said. The IEA sees global oil demand peaking in 2030, helped by the electrification of the transport sector.
-    
-            In addition to affordability, another barrier to mass adoption of electric cars is a lack of public charging infrastructure in Europe and the United States.
-    
-            Under current government policies, the number of public EV charging points worldwide is expected to reach 15 million by the end of the decade, a near-fourfold increase from last year, according to the IEA. 
-    
-            Olesya Dmitracova contributed to this article, which has been updated with additional content.",CNN,23/04/2024,"['Global electric vehicle sales are set to rise by more than a fifth to reach 17 million this year, powered by drivers in China, according to the International Energy Agency.', 'In a report Tuesday, the IEA projected that “surging demand” for EVs over the next decade was set “to remake the global auto industry and significantly reduce oil consumption for road transport.”', 'It expects half of all cars sold globally to be electric by 2035, up from more than one in five this year, provided charging infrastructure keeps pace.', 'The IEA includes battery electric vehicles and plug-in hybrid vehicles in its definition of EVs.', 'The agency’s bullish long-term outlook for EVs — based on current government policies — comes just days after the world’s biggest battery EV maker Tesla slashed its prices in major markets to counter declining sales and growing competition from Chinese upstarts and established carmakers.', 'Recent negative headlines about slowing EV penetration are out of step with positive global trends, according to IEA executive director Fatih Birol.', 'The data “does not at all show a reverse of the growth of electric cars.', 'It shows an extremely robust increase of global electric car sales,” he told reporters Tuesday.', 'The growth is not driven just by Chinese buyers.', 'The number of new battery electric cars sold in the European Union rose almost 4% in the first quarter of this year compared with the same period in 2023, according to the European Automobile Manufacturers’ Association.', 'In a statement, Birol said: “Rather than tapering off, the global EV revolution appears to be gearing up for a new phase of growth.”', 'Despite the upbeat trends, EV makers are grappling with slim profit margins, squeezed by price wars as competition heats.', 'In the past few days, Tesla and Chinese EV maker Li Auto have cut prices on major models in China, the world’s biggest EV market, with Tesla also cutting prices in Germany and the United States.', 'Earlier this month, Tesla posted its first annual drop in sales in nearly four years.', 'The company’s stock has plunged more than 40% so far this year.', 'China’s BYD has also stumbled after it briefly surpassed Tesla as global market leader, with its sales falling to about 300,000 in the first quarter from more than 525,000 in the final three months of 2023.', 'Automakers may be hurting from the price cuts but they will be crucial to increasing the take-up of EVs around the world, according to the IEA, which emphasized that the “pace of the transition to EVs… will hinge on affordability.”', 'In China, more than 60% of EVs sold last year were less expensive than conventional cars, but in Europe and the United States the purchase price for new cars with internal combustion engines remains lower on average.', '“Intensifying market competition and improving battery technologies are expected to reduce (EV) prices in the coming years,” the IEA said.', '“Growing electric car exports from Chinese automakers, which accounted for more than half of all electric car sales in 2023, could add to downward pressure on purchase prices,” it added.', 'Last year, Chinese carmakers accounted for more than half of global electric car sales, compared with their 10% share of the conventional car market. “', 'China is the de facto leader of electric car manufacturing around the world,” Birol said.', 'Concerns about soaring imports of Chinese EVs prompted the European Union to open an investigation late last year into China’s state support for EV makers.', 'The auto industry is a major employer in Europe and crucial to the region’s biggest economy, Germany, which is home to Volkswagen, Audi and BMW.', 'EV sales in China will account for almost 60% of the global total this year and about 45% of all car sales in the country.', 'By 2030, almost one in three cars on the roads in China is set to be electric, up from fewer than one in 10 last year, according to the IEA.', 'That compares with its forecast for 17% in the United States and 18% in the European Union, compared with just over 2% and almost 4% respectively last year.', '“This shift will have major ramifications for both the auto industry and the energy sector,” Birol said.', 'The IEA sees global oil demand peaking in 2030, helped by the electrification of the transport sector.', 'In addition to affordability, another barrier to mass adoption of electric cars is a lack of public charging infrastructure in Europe and the United States.', 'Under current government policies, the number of public EV charging points worldwide is expected to reach 15 million by the end of the decade, a near-fourfold increase from last year, according to the IEA.', 'Olesya Dmitracova contributed to this article, which has been updated with additional content.']",0.1070060039911753,"It shows an extremely robust increase of global electric car sales,” he told reporters Tuesday.","Automakers may be hurting from the price cuts but they will be crucial to increasing the take-up of EVs around the world, according to the IEA, which emphasized that the “pace of the transition to EVs… will hinge on affordability.”",0.2753257536888122,"It expects half of all cars sold globally to be electric by 2035, up from more than one in five this year, provided charging infrastructure keeps pace.","China’s BYD has also stumbled after it briefly surpassed Tesla as global market leader, with its sales falling to about 300,000 in the first quarter from more than 525,000 in the final three months of 2023.",2024-04-26
-"Taylor Swift’s ‘Tortured Poets Department’ shatters streaming records across Spotify, Amazon, Apple",https://edition.cnn.com/2024/04/22/business/taylor-swift-spotify-streaming-record/index.html,"
-  Published
-        3:11 PM EDT, Mon April 22, 2024
-    ","Taylor Swift is breaking records. Again.
-    
-            Swift’s latest album, “The Tortured Poets Department,” which dropped on Friday, became the most-streamed album on its first day across Spotify, Amazon Music, and Apple Music.
-    
-            The pop star’s 11th studio album raked in a stunning 300 million streams in a single day on Friday on Spotify alone, becoming the most-streamed album in a single day in just 12 hours.
-    
-            Amazon and Apple also said Swift’s album broke records across their respective streaming platforms.
-    
-            “The album broke the record for biggest pop album of all time by first-day streams,” Apple Music said.
-    
-            Amazon Music reported “The Tortured Poets Department” had in just three days become the music service’s most-streamed album worldwide in its first week.
-    
-            The album’s opening track, “Fortnight (feat. Post Malone),” also received laurels, becoming the most-streamed song in a single day on Spotify.
-    
-            Swift surprised fans with the album in February, announcing the “secret” album’s April release while accepting the Grammy for Best Pop Vocal Album for her 2022 release, “Midnights.”
-    
-            Swift’s 10th studio album, “Midnights,” previously held the Spotify title while also making her the most-streamed artist in a single day. Swift’s fourth rerecorded album, “1989 (Taylor’s Version),” also broke Spotify’s most-streamed artist in a single day record in 2023.
-    
-            In 2023, Swift also became Spotify’s most-streamed artist, garnering over 26.1 billion streams worldwide.",CNN,22/04/2024,"['Taylor Swift is breaking records.', 'Again.', 'Swift’s latest album, “The Tortured Poets Department,” which dropped on Friday, became the most-streamed album on its first day across Spotify, Amazon Music, and Apple Music.', 'The pop star’s 11th studio album raked in a stunning 300 million streams in a single day on Friday onSpotifyalone, becoming the most-streamed album in a single day in just 12 hours.', 'Amazon andApple also said Swift’s album broke records across their respective streaming platforms.', '“The album broke the record for biggest pop album of all time by first-day streams,” Apple Music said.', 'Amazon Music reported “The Tortured Poets Department” had in just three days become the music service’s most-streamed album worldwide in its first week.', 'The album’s opening track, “Fortnight (feat.', 'Post Malone),” also received laurels, becoming the most-streamed song in a single day on Spotify.', 'Swift surprised fans with the album in February,announcingthe “secret” album’s April release while accepting the Grammy for Best Pop Vocal Album for her 2022 release, “Midnights.”', 'Swift’s 10th studio album, “Midnights,” previously held the Spotify title while also making her the most-streamed artist in a single day.', 'Swift’s fourth rerecorded album, “1989 (Taylor’s Version),” also broke Spotify’s most-streamed artist in a single day record in2023.', 'In 2023, Swift also became Spotify’s most-streamed artist, garnering over 26.1 billion streams worldwide.']",0.0633689939549388,"Swift surprised fans with the album in February,announcingthe “secret” album’s April release while accepting the Grammy for Best Pop Vocal Album for her 2022 release, “Midnights.”",Amazon Music reported “The Tortured Poets Department” had in just three days become the music service’s most-streamed album worldwide in its first week.,0.9825811862945556,"Post Malone),” also received laurels, becoming the most-streamed song in a single day on Spotify.",,2024-04-26
-Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html,"
-  Updated
-        4:19 PM EST, Mon November 20, 2023
-    ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.
-    
-            Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.
-    
-            That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.
-    
-            Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.
-    
-            Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.
-    
-            Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.
-    
-            Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.
-    
-            “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.
-    
-            Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-04-26
-The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html,"
-  Updated
-        12:22 PM EDT, Mon April 25, 2022
-    ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. 
-    
-            Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only.
-    
-            While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.
-    
-            “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car.
-    
-            Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.
-    
-            Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though.
-    
-            To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.
-    
-            Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance.  
-    
-            GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-04-26
-OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html,"
-  Updated
-        3:32 PM EST, Wed November 22, 2023
-    ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.
-    
-            Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.
-    
-            The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.
-    
-            If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.
-    
-            Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public.
-    
-            Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.
-    
-            Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO.
-    
-            OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.
-    
-            Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”
-    
-            Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.”
-    
-            A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events.
-    
-            Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.
-    
-            OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.
-    
-            By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.
-    
-            But those talks broke down.
-    
-            As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer.
-    
-            In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.
-    
-            But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met.
-    
-            Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.”
-    
-            The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign.
-    
-            And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.
-    
-            “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”
-    
-            Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X.
-    
-            “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo.
-    
-            “We are collaborating to figure out the details,” it said.
-    
-            In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.
-    
-            It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”
-    
-            Brockman is also returning to OpenAI, according to his post on X.
-    
-            Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.
-    
-            “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X.  “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X.  Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-04-26
-Ford just reported a massive loss on every electric vehicle it sold,https://edition.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html,"
-  Updated
-        2:10 PM EDT, Thu April 25, 2024
-    ","Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.
-    
-            Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.
-    
-            The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.
-    
-            The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford. Instead the losses include hundreds of millions being spent on research and development of the next generation of EVs for Ford. Those investments are years away from paying off.
-    
-            And that means this is not the end of the losses in the unit - Ford said it expects Model e will have EBIT losses of $5 billion for the full year.
-    
-            The company said it is its “intention” to be have EV pricing cover the actual costs of building each EV, rather than covering all the research and development costs, within the next 12 months. But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.”
-    
-            In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.
-    
-            Model e doesn’t handle all of the company’s electric vehicle sales. Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers. And Ford said it had strong demands for electric vehicle sales in that unit, including an order for 9,250 E-Transit vans from the US Postal Service, which are to be delivered through the end of this year, and an order for more than 1,000 of its F-150 Lightning pickups and Mustang Mach-E SUVs from Ecolab, a global sustainability company.
-    
-            Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.
-    
-            Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion. The number of vehicles sold by Ford Pro was up 21% to 409,000.
-    
-            But Ford Blue, which handles sales of gasoline-powered cars to consumers, reported that sales fell 11% to 626,000, and revenue dropped 13% to $21 billion. That resulted in EBIT in those traditional sales falling by nearly two-thirds to $905 million.
-    
-            Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.
-    
-            Ford rival General Motors reported earlier this week that it remains on track to have its North American EV business turn profitable in the second half of this year, while Stellantis, which makes cars and trucks in North America under the Jeep, Ram, Dodge and Chrysler brands, said its European EV business was already profitable last year.
-    
-            On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.",CNN,25/04/2024,"['Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.', 'Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years.', 'But it is the only traditional automaker to break out results of its retail EV sales.', 'And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.', 'The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier.', 'And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry.', 'That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.', 'The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford.', 'Instead the losses include hundreds of millions being spent on research and development of the next generation of EVs for Ford.', 'Those investments are years away from paying off.', 'And that means this is not the end of the losses in the unit - Ford said it expects Model e will have EBIT losses of $5 billion for the full year.', 'The company said it is its “intention” to be have EV pricing cover the actual costs of building each EV, rather than covering all the research and development costs, within the next 12 months.', 'But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler.', 'He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.”', 'In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.', 'Model e doesn’t handle all of the company’s electric vehicle sales.', 'Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers.', 'And Ford said it had strong demands for electric vehicle sales in that unit, including an order for 9,250 E-Transit vans from the US Postal Service, which are to be delivered through the end of this year, and an order for more than 1,000 of its F-150 Lightning pickups and Mustang Mach-E SUVs from Ecolab, a global sustainability company.', 'Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.', 'Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion.', 'The number of vehicles sold by Ford Pro was up 21% to 409,000.', 'But Ford Blue, which handles sales of gasoline-powered cars to consumers, reported that sales fell 11% to 626,000, and revenue dropped 13% to $21 billion.', 'That resulted in EBIT in those traditional sales falling by nearly two-thirds to $905 million.', 'Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.', 'Ford rival General Motors reported earlier this week that it remains on track to have its North American EV business turn profitable in the second half of this year, while Stellantis, which makes cars and trucks in North America under the Jeep, Ram, Dodge and Chrysler brands, said its European EV business was already profitable last year.', 'On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.']",-0.0062378427825624,"Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.",But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler.,-0.3318765220187959,"Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion.","Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.",2024-04-26
-Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html,"
-  Updated
-        2:20 PM EDT, Tue March 26, 2024
-    ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.
-    
-            The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.
-    
-            Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.
-    
-            As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race.
-    
-            Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.
-    
-            In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-04-26
-"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html,"
-  Published
-        1:53 PM EDT, Fri March 22, 2024
-    ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election.
-    
-            “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff.
-    
-            McDaniel exited the RNC earlier this month after leading the organization since 2016.
-    
-            During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.
-    
-            McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks.
-    
-            In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”
-    
-            “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked.
-    
-            McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”
-    
-            An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.
-    
-            In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.
-    
-            McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.”
-    
-            The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online.
-    
-            In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.
-    
-            “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.”
-    
-            In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election.
-    
-            “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.”
-    
-            NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.
-    
-            Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny.
-    
-            MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-04-26
-Is the tea bubble bursting? ChaPanda shares plunge in Hong Kong IPO,https://edition.cnn.com/2024/04/23/investing/chabaidao-ipo-hong-kong-flop/index.html,"
-  Published
-        8:52 AM EDT, Tue April 23, 2024
-    ","Shares in Chinese bubble tea chain Sichuan Baicha Baidao failed to pop during their market debut Tuesday, tumbling as much as 38% from their listing price.
-    
-            The company, also known as Chabaidao or ChaPanda, had priced its shares at $17.50 Hong Kong dollars ($2.23) apiece, but they plunged as low as $10.80 Hong Kong dollars ($1.38) in the first two hours of trading on the Hong Kong stock exchange.
-    
-            ChaPanda’s shares closed nearly 27% down at $12.80 Hong Kong dollars ($1.63).
-    
-            The company is China’s third-largest retailer of freshly made tea drinks, it said in its IPO prospectus, citing data from market research consultancy Frost & Sullivan. It operates mainly via franchises and has established a network of more than 8,000 stores since opening its first in Chengdu, Sichuan, in 2008.
-    
-            It said it intended to use the money raised from the listing to strengthen its supply chain and digitize its operations, among other plans.
-    
-            Bubble tea (also called “black pearl tea” or “boba tea”) originated in Taiwan in the 1980s, but has since found millions of devotees around the world. Though there are dozens of variations, the essential ingredients are tea, milk and bubbles — little balls made of anything from tapioca to fruit jelly.
-    
-            The drink is hugely popular in China: In 2023, the industry was estimated to be worth 145 billion yuan ($20 billion), according to a report by the China Chain Store & Franchise Association.
-    
-            The plunge in ChaPanda’s shares marks a disappointing turn for the chain, which raised more than $330 million from investors in its IPO, making it Hong Kong’s largest market debut so far in 2024, according to data from Dealogic.
-    
-            It may also be a warning shot to other bubble tea makers preparing to go public amid a difficult time for Chinese stocks. In January, two of China’s most popular bubble tea brands, Mixue Group and Guming Holdings, applied for IPOs on Hong Kong’s stock exchange.
-    
-            Another Chinese bubble tea maker, Nayuki, has lost 88% of its stock market value since going public in Hong Kong in 2021.
-    
-            China’s stock market has struggled in recent years as a litany of economic challenges — including a real estate crisis and high youth unemployment — have spooked investors. The malaise prompted Chinese officials to announce measures to boost investors’ confidence earlier this year.
-    
-            Hong Kong’s benchmark Hang Seng index lost almost 14% of its value last year, and is down 1.3% so far in 2024. China’s blue-chip CSI 300 index, comprising 300 major stocks listed in Shanghai and Shenzhen, fell 11.4% over 2023, though it has notched a 2.2% gain so far this year.
-    
-            Robert Lui, a capital markets analyst at Deloitte, said Hong Kong’s IPO market was “slow” during the first quarter of this year.
-    
-            “The overall turnover and valuation of the (Hong Kong) stock market, which depend on the market liquidity, i.e. funds, remained low,” he wrote in a report earlier this month.
-    
-            Laura He contributed reporting.",CNN,23/04/2024,"['Shares in Chinese bubble tea chain Sichuan Baicha Baidao failed to pop during their market debut Tuesday, tumbling as much as 38% from their listing price.', 'The company, also known as Chabaidao or ChaPanda, had priced its shares at $17.50 Hong Kong dollars ($2.23) apiece, but they plunged as low as $10.80 Hong Kong dollars ($1.38) in the first two hours of trading on the Hong Kong stock exchange.', 'ChaPanda’s shares closed nearly 27% down at $12.80 Hong Kong dollars ($1.63).', 'The company is China’s third-largest retailer of freshly made tea drinks, it said in its IPO prospectus, citing data from market research consultancy Frost & Sullivan.', 'It operates mainly via franchises and has established a network of more than 8,000 stores since opening its first in Chengdu, Sichuan, in 2008.', 'It said it intended to use the money raised from the listing to strengthen its supply chain and digitize its operations, among other plans.', 'Bubble tea (also called “black pearl tea” or “boba tea”) originated in Taiwan in the 1980s, but has since found millions of devotees around the world.', 'Though there are dozens of variations, the essential ingredients are tea, milk and bubbles — little balls made of anything from tapioca to fruit jelly.', 'The drink is hugely popular in China: In 2023, the industry was estimated to be worth 145 billion yuan ($20 billion), according toa reportby the China Chain Store & Franchise Association.', 'The plunge in ChaPanda’s shares marks a disappointing turn for the chain, which raised more than $330 million from investors in its IPO, making it Hong Kong’s largest market debut so far in 2024, according to data from Dealogic.', 'It may also be a warning shot to other bubble tea makers preparing to go public amid a difficult time for Chinese stocks.', 'In January, two of China’s most popular bubble tea brands, Mixue Group and Guming Holdings, applied for IPOs on Hong Kong’s stock exchange.', 'Another Chinese bubble tea maker, Nayuki, has lost 88% of its stock market value since going public in Hong Kong in 2021.', 'China’s stock market has struggled in recent years as a litany of economic challenges —including a real estate crisis and high youth unemployment —have spooked investors.', 'The malaise prompted Chinese officials to announce measures to boost investors’ confidence earlier this year.', 'Hong Kong’s benchmark Hang Seng index lost almost 14% of its value last year, and is down 1.3% so far in 2024.', 'China’s blue-chip CSI 300 index, comprising 300 major stocks listed in Shanghai and Shenzhen, fell 11.4% over 2023, though it has notched a 2.2% gain so far this year.', 'Robert Lui, a capital markets analyst at Deloitte, said Hong Kong’s IPO market was “slow” during the first quarter of this year.', '“The overall turnover and valuation of the (Hong Kong) stock market, which depend on the market liquidity, i.e. funds, remained low,” he wrote in a report earlier this month.', 'Laura He contributed reporting.']",0.0343150674281259,The malaise prompted Chinese officials to announce measures to boost investors’ confidence earlier this year.,China’s stock market has struggled in recent years as a litany of economic challenges —including a real estate crisis and high youth unemployment —have spooked investors.,-0.707756349673638,The malaise prompted Chinese officials to announce measures to boost investors’ confidence earlier this year.,"China’s blue-chip CSI 300 index, comprising 300 major stocks listed in Shanghai and Shenzhen, fell 11.4% over 2023, though it has notched a 2.2% gain so far this year.",2024-04-26
-Former JetBlue CEO Robin Hayes to lead Airbus in North America,https://edition.cnn.com/2024/04/22/business/former-jetblue-ceo-airbus-north-america/index.html,"
-  Published
-        1:46 PM EDT, Mon April 22, 2024
-    ","Former JetBlue CEO Robin Hayes will join Airbus as the company’s North American leader.
-    
-            Hayes, JetBlue’s CEO for nine years, stepped down from the post on February 12. Hayes will take over the role of chairman and chief executive officer of Airbus Americas from Jeff Knittel, who announced his retirement on Monday.
-    
-            Hayes’ appointment comes at an important time for Airbus, as the European plane manufacturer seeks to win business from its American competitor Boeing after a series of missteps by its rival.
-    
-            Airbus reported record annual jet orders in 2023, but in a statement Monday, Airbus CEO Guillaume Faury hinted at plans for further expansion in North America.
-    
-            “Together with the leadership team we’re looking forward to having Robin and his vast industry experience onboard to further deliver on our strategic objectives for the region across all the Airbus businesses and further grow our North American footprint,” Faury said in a statement.
-    
-            The announcement of Hayes’ Airbus appointment comes just over two months after he left JetBlue, which has a fleet of Airbus planes. Hayes said that the decision was made based on the advice of his doctor and after speaking with his wife.
-    
-            “The extraordinary challenges and pressure of this job have taken their toll,” Hayes said in a January statement. “It’s time I put more focus on my health and well-being.”
-    
-            In a statement Monday, Hayes said he was excited and energized to join Airbus after taking time off.
-    
-            As chairman and CEO of the North American business, Hayes will lead Airbus’ commercial aircraft business and oversee the company’s helicopters and space and defense business in the region.",CNN,22/04/2024,"['Former JetBlue CEO Robin Hayes will join Airbus as the company’s North American leader.', 'Hayes, JetBlue’s CEO for nine years, stepped down from the post on February 12.', 'Hayes will take over the role of chairman and chief executive officer of Airbus Americas from Jeff Knittel, who announced his retirement on Monday.', 'Hayes’ appointment comes at an important time for Airbus, as the European plane manufacturer seeks to win business from its American competitor Boeing after a series of missteps by its rival.', 'Airbus reported record annual jet orders in 2023, but in a statement Monday, Airbus CEO Guillaume Faury hinted at plans for further expansion in North America.', '“Together with the leadership team we’re looking forward to having Robin and his vast industry experience onboard to further deliver on our strategic objectives for the region across all the Airbus businesses and further grow our North American footprint,” Faury said in a statement.', 'The announcement of Hayes’ Airbus appointment comes just over two months after he left JetBlue, which has a fleet of Airbus planes.', 'Hayes said that the decision was made based on the advice of his doctor and after speaking with his wife.', '“The extraordinary challenges and pressure of this job have taken their toll,” Hayes said in a January statement. “', 'It’s time I put more focus on my health and well-being.”', 'In a statement Monday, Hayes said he was excited and energized to join Airbus after taking time off.', 'As chairman and CEO of the North American business, Hayes will lead Airbus’ commercial aircraft business and oversee the company’s helicopters and space and defense business in the region.']",0.1613508242865261,"In a statement Monday, Hayes said he was excited and energized to join Airbus after taking time off.","“The extraordinary challenges and pressure of this job have taken their toll,” Hayes said in a January statement. “",0.6025328278541565,"“Together with the leadership team we’re looking forward to having Robin and his vast industry experience onboard to further deliver on our strategic objectives for the region across all the Airbus businesses and further grow our North American footprint,” Faury said in a statement.","“The extraordinary challenges and pressure of this job have taken their toll,” Hayes said in a January statement. “",2024-04-26
-FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html,"
-  Updated
-        8:11 PM EDT, Tue March 26, 2024
-    ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.
-    
-            The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.
-    
-            The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.
-    
-            The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.
-    
-            The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier.
-    
-            When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”
-    
-            TikTok did not immediately respond to a request for comment.
-    
-            The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill.
-    
-            The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.
-    
-            Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.
-    
-            TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-04-26
-Your ultimate guide to the American Express Membership Rewards program,https://edition.cnn.com/cnn-underscored/travel/american-express-membership-rewards-guide,"
-  Updated
-        1:03 PM EDT, Mon April 1, 2024
-    ","American Express Membership Rewards® are among the most valuable travel rewards points out there. That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.
-    
-            In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.
-    
-            Having Membership Rewards points gives you options, and that’s always a good thing. If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.
-    
-            You can earn Membership Rewards points in various ways. Some require little effort, while others involve a heavier lift. It’s a good idea to take advantage of all the options out there in order to maximize your earnings. Here’s a look at how to earn Membership Rewards most efficiently.
-    
-            The primary way to earn Amex points is through credit cards that earn Membership Rewards. Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.
-    
-            These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card. With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance. Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.
-    
-            Keep in mind, too, that many of these cards carry an annual fee:
-    
-            All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.
-    
-            Similarly, American Express offers a suite of business credit cards.
-    
-            All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.
-    
-            Keep in mind that several of these cards also carry an annual fee:
-    
-            Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses. If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).
-    
-            If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel. Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.
-    
-            When applying for American Express cards, be sure to take note of the application rules. For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days. Before applying for a credit card, it’s important to do your research.
-    
-            As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer. One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.
-    
-             Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings. That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.
-    
-            Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.
-    
-            If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.
-    
-            American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card. You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.
-    
-            To find out your card’s current referral bonus, head over to the Amex referral site. You’ll see referral bonuses based on your card. Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card. You can also copy the referral link on the page and share that with your friends and family directly.
-    
-            Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family. Keep in mind there is a limit to how many friends you can refer in a year.
-    
-            Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards. For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.
-    
-            As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection. In general, booking travel through American Express pays off in more ways than one.
-    
-            Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers. With Amex Offers, card holders can earn statement credits or bonus points at select retailers. In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.
-    
-            To find and take advantage of Amex Offers, you’ll need to log in to your account. From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page. Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer. From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase. Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.
-    
-            Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards. It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.
-    
-            If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards. Simply log into your account and follow these steps:
-    
-            After this, rewards get transferred to your Membership Rewards account quarterly.
-    
-            Now, for the fun part! Once you’ve earned Membership Rewards points, it’s time to put them to good use. Amex gives you several options to redeem points, but the best option is travel. You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.
-    
-            Here’s a closer look at your options and how they work.
-    
-            American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners. The best way to redeem Membership Rewards for maximum value is through airline transfers. But keep in mind that not all airline loyalty programs are equal.
-    
-            Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.
-    
-            If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.
-    
-            It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels. So, at times, you can get more points in return than the standard transfer rate listed above. Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.
-    
-            By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.
-    
-            Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.
-    
-            Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you. But, some redemptions are better than others — particularly when it comes to award sweet spots.
-    
-            Some examples of these sweet spot awards using your Amex Membership Rewards points include the following:
-    
-            Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners. But that may not always make sense for all card holders — and it’s not your only option.
-    
-            If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions. This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.
-    
-            Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value. If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.
-    
-            You’ll get slightly more value by redeeming your Membership Rewards for travel bookings. By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings. Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.
-    
-            If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value. However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.
-    
-            Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points. However, that’s not always the case for everyone. You may want to save a few dollars here or there on a purchase you’re making online. Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.
-    
-            When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them. The value you can get ranges from about 0.6 cents each to about 2 cents each. Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.
-    
-            Amex offers 0.6 cents per point in value when you use points for statement credits. Meanwhile, travel bookings will get you a somewhat higher 1 cent per point. The highest value comes from transferring points to airline and hotel partners, as detailed above. Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.
-    
-            American Express Membership Rewards points are some of the most versatile and valuable out there. By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more. Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.
-    
-            Click here for rates and fees of the Amex Platinum card.Click here for rates and fees of the Amex Gold card.Click here for rates and fees of the Amex Business Platinum card.Click here for rates and fees of the Amex Business Gold card.Click here for rates and fees of the Amex Blue Business Plus card.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,01/04/2024,"['American Express Membership Rewards® are among the most valuable travel rewards points out there.', 'That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.', 'In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.', 'Having Membership Rewards points gives you options, and that’s always a good thing.', 'If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.', 'You can earn Membership Rewards points in various ways.', 'Some require little effort, while others involve a heavier lift.', 'It’s a good idea to take advantage of all the options out there in order to maximize your earnings.', 'Here’s a look at how to earn Membership Rewards most efficiently.', 'The primary way to earn Amex points is through credit cards that earn Membership Rewards.', 'Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.', 'These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card.', 'With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.', 'Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.', 'Keep in mind, too, that many of these cards carry an annual fee:  All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.', 'Similarly, American Express offers a suite of business credit cards.', 'All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.', 'Keep in mind that several of these cards also carry an annual fee:  Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses.', 'If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).', 'If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel.', 'Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.', 'When applying for American Express cards, be sure to take note of the application rules.', 'For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days.', 'Before applying for a credit card, it’s important to do your research.', 'As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer.', 'One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.', 'Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings.', 'That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.', 'If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.', 'American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card.', 'You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.', 'To find out your card’s current referral bonus, head over to the Amex referral site.', 'You’ll see referral bonuses based on your card.', 'Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card.', 'You can also copy the referral link on the page and share that with your friends and family directly.', 'Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family.', 'Keep in mind there is a limit to how many friends you can refer in a year.', 'Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards.', 'For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.', 'As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection.', 'In general, booking travel through American Express pays off in more ways than one.', 'Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers.', 'With Amex Offers, card holders can earn statement credits or bonus points at select retailers.', 'In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.', 'To find and take advantage of Amex Offers, you’ll need to log in to your account.', 'From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page.', 'Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer.', 'From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase.', 'Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.', 'Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards.', 'It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.', 'If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards.', 'Simply log into your account and follow these steps:  After this, rewards get transferred to your Membership Rewards account quarterly.', 'Now, for the fun part!', 'Once you’ve earned Membership Rewards points, it’s time to put them to good use.', 'Amex gives you several options to redeem points, but the best option is travel.', 'You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.', 'Here’s a closer look at your options and how they work.', 'American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners.', 'The best way to redeem Membership Rewards for maximum value is through airline transfers.', 'But keep in mind that not all airline loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.', 'It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels.', 'So, at times, you can get more points in return than the standard transfer rate listed above.', 'Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.', 'By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.', 'Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you.', 'But, some redemptions are better than others — particularly when it comes to award sweet spots.', 'Some examples of these sweet spot awards using your Amex Membership Rewards points include the following:  Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions.', 'This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.', 'Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value.', 'If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.', 'You’ll get slightly more value by redeeming your Membership Rewards for travel bookings.', 'By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings.', 'Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.', 'If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value.', 'However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.', 'Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points.', 'However, that’s not always the case for everyone.', 'You may want to save a few dollars here or there on a purchase you’re making online.', 'Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.', 'When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them.', 'The value you can get ranges from about 0.6 cents each to about 2 cents each.', 'Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.', 'Amex offers 0.6 cents per point in value when you use points for statement credits.', 'Meanwhile, travel bookings will get you a somewhat higher 1 cent per point.', 'The highest value comes from transferring points to airline and hotel partners, as detailed above.', 'Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.', 'American Express Membership Rewards points are some of the most versatile and valuable out there.', 'By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more.', 'Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.', 'Click here for rates and fees of the Amex Platinum card.', 'Click here for rates and fees of the Amex Gold card.', 'Click here for rates and fees of the Amex Business Platinum card.', 'Click here for rates and fees of the Amex Business Gold card.', 'Click here for rates and fees of the Amex Blue Business Plus card.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.5246481979610982,"If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.",But keep in mind that not all airline loyalty programs are equal.,0.9622429311275482,"With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.",,2024-04-26
-The clean energy race could trigger the biggest mining deal in decades,https://edition.cnn.com/2024/04/25/business/anglo-american-takeover-bhp-mining/index.html,"
-  Updated
-        4:23 AM EDT, Fri April 26, 2024
-    ","Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record.
-    
-            BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total. If completed, the acquisition would increase BHP’s access to copper reserves, it added.
-    
-            Anglo American said Friday that it had rejected BHP’s proposed offer because it “significantly undervalues” the company. BHP has until May 22 to make a formal offer, and the Australian mining group could yet come forward with a higher bid.
-    
-            “There’s every chance BHP will come back to the table,” said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.
-    
-            Copper is an essential component in some renewable energy technologies, including solar panels and electric vehicles, as well as in electrical grids. And it is in high demand: The price of copper on the London Metals Exchange has risen more than 15% this year to almost $10,000 a metric ton, its highest level in about two years.
-    
-            “First and foremost” the proposed takeover is about copper, William Tankard, principal analyst of base metals at CRU Group, told CNN.
-    
-            BHP is the world’s second-biggest producer of mined copper, while Anglo American is the ninth-biggest, according to CRU Group analysis. Their combination would attract the scrutiny of competition authorities around the world, Tankard added.
-    
-            Under the terms of BHP’s rejected offer, the deal would be worth more than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data. It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004.
-    
-            Shares in Anglo American ticked down 0.5% in early trade Friday to £25.48 ($31.89), after jumping 16% the previous day on news of BHP’s offer. The Australian company’s stock closed 4.6% down Friday.
-    
-            BHP has been looking to bulk up in copper for a while. A year ago, the Melbourne-based company acquired Australian rival Oz Minerals to widen its access to copper and nickel.
-    
-            The Oz buyout was part of BHP’s strategy to “meet increasing demand for the critical minerals needed for electric vehicles, wind turbines and solar panels,” company CEO Mike Henry said in a statement at the time.
-    
-            Tankard at CRU Group called copper “the ubiquitous future-facing commodity.” “Whether we’re talking about EVs or data centers, or general electrification… there’s a common theme, and that theme is copper.”
-    
-            Anglo American is one of the largest companies listed on the London Stock Exchange and the approach by BHP may fuel concerns about an exodus from from the London market.
-    
-            Wael Sawan, the CEO of Shell, told Bloomberg last month that he believed the energy giant’s London listing made the company “undervalued,” drawing comparisons to its much bigger rivals Exxon Mobil and Chevron, both listed in New York.
-    
-            That fuelled speculation that the £186 billion ($232 billion) oil behemoth could ditch London for Wall Street, a switch that would deal a huge blow to Britain’s main stock exchange. Several companies have already moved their primary listings elsewhere or chosen New York for going public in recent years.
-    
-            The offer for Anglo American “will send a fresh chill through the City of London,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, wrote in a note Thursday. “There are concerns that, if the deal goes through, it could be the tip of the iceberg and more giants could leave the exchange.”
-    
-            Correction: An earlier version of this article gave an incorrect ranking for BHP among the world’s biggest producers of mined copper.
-    
-            Rob North contributed reporting. This story has been updated with additional information.",CNN,26/04/2024,"['Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record.', 'BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total.', 'If completed, the acquisition would increase BHP’s access to copper reserves, it added.', 'Anglo American said Friday that it had rejected BHP’s proposed offer because it “significantly undervalues” the company.', 'BHP has until May 22 to make a formal offer, and the Australian mining group could yet come forward with a higher bid.', '“There’s every chance BHP will come back to the table,” said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.', 'Copper is an essential component in some renewable energy technologies, includingsolar panelsandelectric vehicles, as well as in electrical grids.', 'And it is in high demand: The price of copper on the London Metals Exchange has risen more than 15% this year to almost $10,000 a metric ton, its highest level in about two years.', '“First and foremost” the proposed takeover is about copper, William Tankard, principal analyst of base metals at CRU Group, told CNN.', 'BHP is the world’s second-biggest producer of mined copper, while Anglo American is the ninth-biggest, according to CRU Group analysis.', 'Their combination would attract the scrutiny of competition authorities around the world, Tankard added.', 'Under the terms of BHP’s rejected offer, the deal would be worth more than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data.', 'It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004.', 'Shares in Anglo American ticked down 0.5% in early trade Friday to £25.48 ($31.89), after jumping 16% the previous day on news of BHP’s offer.', 'The Australian company’s stock closed 4.6% down Friday.', 'BHP has been looking to bulk up in copper for a while.', 'A year ago, the Melbourne-based company acquired Australian rival Oz Minerals to widen its access to copper and nickel.', 'The Oz buyout was part of BHP’s strategy to “meet increasing demand for the critical minerals needed for electric vehicles, wind turbines and solar panels,” company CEO Mike Henry said in astatementat the time.', 'Tankard at CRU Group called copper “the ubiquitous future-facing commodity.” “', 'Whether we’re talking about EVs or data centers, or general electrification… there’s a common theme, and that theme is copper.”', 'Anglo American is one of the largest companies listed on the London Stock Exchange and the approach by BHP may fuel concerns about an exodus from from the London market.', 'Wael Sawan, the CEO of Shell, told Bloomberg last month that he believed the energy giant’s London listing made the company “undervalued,” drawing comparisons to its much bigger rivals Exxon Mobil and Chevron, both listed in New York.', 'That fuelled speculation that the £186 billion ($232 billion) oil behemoth could ditch London for Wall Street, a switch that would deal a huge blow to Britain’s main stock exchange.', 'Several companies have already moved their primary listings elsewhere or chosen New York for going public in recent years.', 'The offer for Anglo American “will send a fresh chill through the City of London,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, wrote in a note Thursday. “', 'There are concerns that, if the deal goes through, it could be the tip of the iceberg and more giants could leave the exchange.”', 'Correction: An earlier version of this article gave an incorrect ranking for BHP among the world’s biggest producers of mined copper.', 'Rob North contributed reporting.', 'This story has been updated with additional information.']",0.0368400845170265,"BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total.",Rob North contributed reporting.,-0.0243265368044376,"And it is in high demand: The price of copper on the London Metals Exchange has risen more than 15% this year to almost $10,000 a metric ton, its highest level in about two years.","Shares in Anglo American ticked down 0.5% in early trade Friday to £25.48 ($31.89), after jumping 16% the previous day on news of BHP’s offer.",2024-04-26
-Can markets make a comeback? That depends on tech earnings,https://edition.cnn.com/2024/04/23/investing/premarket-stocks-trading/index.html,"
-  Published
-        7:25 AM EDT, Tue April 23, 2024
-    ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.
-    
-            Markets have had a rough time this month, but don’t count them out just yet.
-    
-            Monday’s bounceback, buoyed by a strong start to earnings season, could mark a sea change for investors.
-    
-            What’s happening: US stocks slid from recent highs last week as inflation proved sticky and heightened geopolitical tensions drove major indexes to their longest slump in 18 months.
-    
-            The S&P 500 and Nasdaq dropped six days in a row, the longest downswing since October 2022. The Nasdaq tumbled 2.1% on Friday as tech stocks plunged, marking its worst day since January 31.
-    
-            “We’ve expected inflation would be on a rollercoaster,” wrote analysts at BlackRock in a note on Monday. “Further escalation of Middle East tensions could see oil prices staying elevated, reinforcing higher inflation and higher-for-longer interest rates.”
-    
-            Those sticky inflation rates have pushed investors to slash their expectations for interest rate cuts by the Federal Reserve. They’re now anticipating just one cut this year, according to the CME FedWatch tool. That’s down from six at the beginning of the year.
-    
-            “We question whether the slide in stocks is a blip or a bigger shift toward pricing in inflation — and interest rates — settling higher than pre-pandemic,” wrote the BlackRock analysts.
-    
-            That’s why earnings this week are so critical for the market.
-    
-            “With stocks under pressure and rate cut hopes fading, we think the bar is higher for tech firms to deliver on earnings expectations — and for other sectors to show an earnings recovery,” they wrote. “US earnings updates this week will be key to see if they can keep topping expectations and buoying risk appetite in a higher-for-longer interest rate environment.”
-    
-            Tesla, Facebook-parent Meta, IBM, Microsoft and Alphabet all report first quarter earnings later this week.
-    
-            “Big Tech earnings may determine whether the stock market avoids its first four-week losing streak in two years,” wrote Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley on Monday.
-    
-            The good news: This earnings season has been strong so far.
-    
-            About 15% of S&P 500 companies have reported first quarter earnings, and nearly three-quarters of those companies have posted a positive earnings-per-share surprise. About 60% of companies have beaten revenue expectations, according to FactSet data.
-    
-            Analysts at Wells Fargo say they expect S&P 500 Index profits to expand for the third consecutive quarter.
-    
-            But investors are nervously waiting for the Magnificent Seven, those massive Tech stocks that carry an outsized portion of market weight, to report.
-    
-            FactSet estimates predict the worry is overblown, at least for most of that group.
-    
-            Companies in the Magnificent Seven are expected to drive earnings higher for the S&P 500 for the first quarter, according to FactSet. Nvidia, Amazon, Meta, Alphabet and Microsoft are projected to be the top five contributors to year-over-year earnings growth for the S&P 500. The other two Magnificant Seven stocks are Tesla and Apple.
-    
-            The bad news: Other economists aren’t as certain that things will go well for Big Tech this quarter.
-    
-            Analysts at Bank of America wrote that they expect Magnificent Seven earnings to slow compared to last year and that they expect all seven companies to see decelerating growth when measured by earnings per share.
-    
-            Others are lukewarm on Big Tech and the hype around artificial intelligence.
-    
-            “With AI, we’re not at the craziness of the 1990s dotcom bubble just yet — but it is starting to feel a little bit like that,” wrote Dave Sekera, chief US market strategist at Morningstar in a note on Monday.
-    
-            “I think what you’re really going to start hearing this quarter and maybe the next couple quarters is a lot of talk about AI. As an investor, you need to have a skeptical ear regarding those companies that talk about AI but don’t necessarily have a clear path as to how AI is going to either bolster their results or expand their margins.”
-    
-            Overall, for big tech, he said “I think this quarter is one of those where no new news is good news.”
-    
-            Taylor Swift is breaking records. Again.
-    
-            Swift’s latest album, “The Tortured Poets Department,” which dropped on Friday, became the most-streamed album on its first day across Spotify, Amazon Music, and Apple Music, reports my colleague Liam Reilly.
-    
-            The pop star’s 11th studio album raked in a stunning 300 million streams in a single day on Friday on Spotify alone, becoming the most-streamed album in a single day in just 12 hours.
-    
-            Amazon and Apple also said Swift’s album broke records across their respective streaming platforms.
-    
-            “The album broke the record for biggest pop album of all time by first-day streams,” Apple Music said.
-    
-            Amazon Music reported “The Tortured Poets Department” had in just three days become the music service’s most-streamed album worldwide in its first week.
-    
-            The album’s opening track, “Fortnight (feat. Post Malone),” also received laurels, becoming the most-streamed song in a single day on Spotify.
-    
-            Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets, reports my colleague Laura He.
-    
-            The latest round of price cuts adds to a series of price cuts that Tesla has made dating back to early last year to try to maintain demand in the face of increased competition from EV offerings by traditional automakers and higher interest rates driving up the cost of car purchases for many buyers. Tesla’s price cuts have squeezed its profit margins and caused its stock to fall about 4% in trading Monday, ahead of its first quarter earnings report due out after the bell Tuesday.
-    
-            On Sunday, the EV giant slashed the starting prices of four models sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932). The Model Y, the company’s bestselling car in the country, now starts at its lowest -ever price of 249,900 yuan ($34,502).
-    
-            In Germany, Tesla’s biggest market in Europe, the price of its Model 3 rear-wheel drive was also lowered by 2,000 euros ($2,132) to 40,990 euros ($43,707), according to its official website.
-    
-            The first cuts were announced on Friday in the US, when Tesla reduced the prices of three of its five models. The prices of the Model Y, Model X and Model S were cut by $2,000 each, while those for the Model 3 and the Cybertruck remained unchanged.
-    
-            The flurry of cuts comes during a tough time for Tesla. Its stock has plunged more than 40% year-to-date, after it reported a drop in quarterly deliveries for the first time in nearly four years and announced job cuts equivalent to more than 10% of its global staff.",CNN,23/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'Markets have had a rough time this month, but don’t count them out just yet.', 'Monday’s bounceback, buoyed by a strong start to earnings season, could mark a sea change for investors.', 'What’s happening: US stocks slid from recent highs last week as inflation proved sticky and heightened geopolitical tensions drove major indexes to their longest slump in 18 months.', 'The S&P 500 and Nasdaq dropped six days in a row, the longest downswing since October 2022.', 'The Nasdaq tumbled 2.1% on Friday as tech stocks plunged, marking its worst day since January 31.', '“We’ve expected inflation would be on a rollercoaster,” wrote analysts at BlackRock in a note on Monday. “', 'Further escalation of Middle East tensions could see oil prices staying elevated, reinforcing higher inflation and higher-for-longer interest rates.”', 'Those sticky inflation rates have pushed investors to slash their expectations for interest rate cuts by the Federal Reserve.', 'They’re now anticipating just one cut this year, according to the CME FedWatch tool.', 'That’s down from six at the beginning of the year.', '“We question whether the slide in stocks is a blip or a bigger shift toward pricing in inflation — and interest rates — settling higher than pre-pandemic,” wrote the BlackRock analysts.', 'That’s why earnings this week are so critical for the market.', '“With stocks under pressure and rate cut hopes fading, we think the bar is higher for tech firms to deliver on earnings expectations — and for other sectors to show an earnings recovery,” they wrote. “', 'US earnings updates this week will be key to see if they can keep topping expectations and buoying risk appetite in a higher-for-longer interest rate environment.”', 'Tesla, Facebook-parent Meta, IBM, Microsoft and Alphabet all report first quarter earnings later this week.', '“Big Tech earnings may determine whether the stock market avoids its first four-week losing streak in two years,” wrote Chris Larkin, managing director of trading and investing at E*TRADE from Morgan Stanley on Monday.', 'The good news: This earnings season has been strong so far.', 'About 15% of S&P 500 companies have reported first quarter earnings, and nearly three-quarters of those companies have posted a positive earnings-per-share surprise.', 'About 60% of companies have beaten revenue expectations, according to FactSet data.', 'Analysts at Wells Fargo say they expect S&P 500 Index profits to expand for the third consecutive quarter.', 'But investors are nervously waiting for the Magnificent Seven, those massive Tech stocks that carry an outsized portion of market weight, to report.', 'FactSet estimates predict the worry is overblown, at least for most of that group.', 'Companies in the Magnificent Seven are expected to drive earnings higher for the S&P 500 for the first quarter, according to FactSet.', 'Nvidia, Amazon, Meta, Alphabet and Microsoft are projected to be the top five contributors to year-over-year earnings growth for the S&P 500.', 'The other two Magnificant Seven stocks are Tesla and Apple.', 'The bad news: Other economists aren’t as certain that things will go well for Big Tech this quarter.', 'Analysts at Bank of America wrote that they expect Magnificent Seven earnings to slow compared to last year and that they expect all seven companies to see decelerating growth when measured by earnings per share.', 'Others are lukewarm on Big Tech and the hype around artificial intelligence.', '“With AI, we’re not at the craziness of the 1990s dotcom bubble just yet — but it is starting to feel a little bit like that,” wrote Dave Sekera, chief US market strategist at Morningstar in a note on Monday.', '“I think what you’re really going to start hearing this quarter and maybe the next couple quarters is a lot of talk about AI.', 'As an investor, you need to have a skeptical ear regarding those companies that talk about AI but don’t necessarily have a clear path as to how AI is going to either bolster their results or expand their margins.”', 'Overall, for big tech, he said “I think this quarter is one of those where no new news is good news.”', 'Taylor Swift is breaking records.', 'Again.', 'Swift’s latest album, “The Tortured Poets Department,” which dropped on Friday, became the most-streamed album on its first day across Spotify, Amazon Music, and Apple Music, reports my colleague Liam Reilly.', 'The pop star’s 11th studio album raked in a stunning 300 million streams in a single day on Friday onSpotifyalone, becoming the most-streamed album in a single day in just 12 hours.', 'Amazon andApple also said Swift’s album broke records across their respective streaming platforms.', '“The album broke the record for biggest pop album of all time by first-day streams,”Apple Music said.', 'Amazon Music reported“The Tortured Poets Department” had in just three days become the music service’s most-streamed album worldwide in its first week.', 'The album’s opening track, “Fortnight (feat.', 'Post Malone),” also received laurels, becoming the most-streamed song in a single day on Spotify.', 'Tesla has announced aggressive price cuts in China and Germany, shortly after reducing prices in the United States, as the world’s largest maker of electric vehicles (EV) faces declining sales and growing competition in major markets, reports my colleague Laura He.', 'The latest round of price cuts adds to aseries of price cutsthat Tesla has made dating back to early last year to try to maintain demand in the face of increased competition from EV offerings by traditional automakers and higher interest rates driving up the cost of car purchases for many buyers.', 'Tesla’s price cuts havesqueezed its profit marginsand caused its stock to fall about 4% in trading Monday, ahead of its first quarter earnings report due out after the bell Tuesday.', 'On Sunday, the EV giant slashed the starting prices of fourmodels sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932).', 'The Model Y, the company’s bestselling car in the country, now starts at its lowest -ever price of 249,900 yuan ($34,502).', 'In Germany, Tesla’s biggest market in Europe, the price of its Model 3 rear-wheel drive was also lowered by 2,000 euros ($2,132) to 40,990 euros ($43,707), according to its official website.', 'The first cuts were announced on Friday in the US, when Tesla reduced theprices of three of its five models.', 'The prices ofthe Model Y, Model X and Model S were cut by $2,000each, while those for the Model 3 and the Cybertruck remained unchanged.', 'The flurry of cuts comes during a tough time forTesla.', 'Its stock has plunged more than 40% year-to-date, after it reported a drop in quarterly deliveries for the first time in nearly four years andannounced job cutsequivalent to more than 10% of its global staff.']",0.0601849808284716,Analysts at Bank of America wrote that they expect Magnificent Seven earnings to slow compared to last year and that they expect all seven companies to see decelerating growth when measured by earnings per share.,"The Nasdaq tumbled 2.1% on Friday as tech stocks plunged, marking its worst day since January 31.",-0.0119181500898825,Analysts at Wells Fargo say they expect S&P 500 Index profits to expand for the third consecutive quarter.,Analysts at Bank of America wrote that they expect Magnificent Seven earnings to slow compared to last year and that they expect all seven companies to see decelerating growth when measured by earnings per share.,2024-04-26
-Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html,"
-  Published
-        7:14 AM EST, Fri March 1, 2024
-    ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.
-    
-            Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.
-    
-            Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.
-    
-            The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.
-    
-            “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.
-    
-            “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”
-    
-            It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021.
-    
-            Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.
-    
-            Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.
-    
-            Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.
-    
-            The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.
-    
-            Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods.
-    
-            “It’s more about evolution than revolution,” Felton-Thomas explained.
-    
-            “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?”
-    
-            “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”
-    
-            While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports.
-    
-            “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-04-26
-TikTok could face EU fines and a suspension over sister app TikTok Lite,https://edition.cnn.com/2024/04/22/tech/tiktok-lite-eu-investigation/index.html,"
-  Updated
-        1:22 PM EDT, Mon April 22, 2024
-    ","European officials are threatening TikTok with massive fines and a possible forced suspension this week of parts of a new spinoff app, launched this month, that regulators allege contains addictive features.
-    
-            The warnings target TikTok Lite, a less data-intensive version of TikTok’s main app which contains a feature that rewards users with cash for engaging with TikTok content and app features.
-    
-            EU officials fear the feature could be used to turn TikTok Lite users into addicts who can’t stop using the app and described it as an “experiment” on unwitting EU citizens in Spain and France where TikTok Lite has been made available.
-    
-            Monday’s announcement by the European Union marks the trading bloc’s second major inquiry into TikTok and focuses specifically on TikTok Lite and what officials said were risks of serious harms to users’ mental health.
-    
-            The move comes days after the US House of Representatives passed legislation that could ultimately ban TikTok from the United States over national security concerns. The US Senate is expected to take up that measure as early as this week, as part of a vote on foreign aid to Israel and Ukraine.
-    
-            The latest EU probe represents the first time Commission officials have flexed their power using certain new tools granted to them under Europe’s far-reaching new law regulating online platforms, the Digital Services Act (DSA).
-    
-            “This is a demonstration of the fact that when we say minor protection is a priority under the DSA, we really mean it,” a European Commission official told reporters Monday.
-    
-            “We are disappointed with this decision,” a TikTok spokesperson said in response to the EU warnings. “The TikTok Lite rewards hub is not available to under 18s, and there is a daily limit on video watch tasks. We will continue discussions with the Commission.”
-    
-            The European Commission said Monday it had given TikTok 48 hours to defend its reward program to officials, after which TikTok could be ordered to suspend the rewards feature in TikTok Lite as an urgent temporary measure. A decision to order the suspension could come as early as Thursday, commission officials told reporters on a conference call. A suspension could last 60 days and be repeatedly renewed.
-    
-            In addition, TikTok could be fined for failing to provide information it owes to the Commission about TikTok Lite, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks. EU officials first sent their request for information last week. It is separate from another ongoing DSA investigation into TikTok, launched in February, over the company’s approach to user harms more generally.
-    
-            Failure to hand over the TikTok Lite risk assessment by Tuesday, and the risk mitigation report by May 3, could result in fines of up to 1% of TikTok’s global annual revenue and “periodic penalties” of up to 5% of TikTok’s average daily revenue, the Commission said.
-    
-            TikTok could face further, additional fines of up to 6% of its global annual revenue if the TikTok Lite features the Commission is investigating are determined to be violations of the DSA.
-    
-            Both the possible forced suspension and the potential fines are procedural tools the European Commission has not used before under the DSA, a commission official said.
-    
-            “So far this has never been necessary, because in all our 40-plus requests for information that have been sent, companies have always supplied the information,” the official told reporters on the call. “Generally speaking, we’ve never not received the reply to our request for information.”
-    
-            Commission officials repeatedly declined to say whether TikTok had offered an explanation for why it did not submit the requested information.
-    
-            This story has been updated with additional information.",CNN,22/04/2024,"['European officials are threatening TikTok with massive fines and a possible forced suspension this week of parts of a new spinoff app, launched this month, that regulators allege contains addictive features.', 'The warnings target TikTok Lite, a less data-intensive version of TikTok’s main app which contains a feature that rewards users with cash for engaging with TikTok content and app features.', 'EU officials fear the feature could be used to turn TikTok Lite users into addicts who can’t stop using the appand described it as an “experiment” on unwitting EU citizens in Spain and France where TikTok Lite has been made available.', 'Monday’s announcement by the European Union marks the trading bloc’s second major inquiry into TikTok and focuses specifically on TikTok Lite and what officials said were risks of serious harms to users’ mental health.', 'The move comes days after the US House of Representativespassed legislationthat could ultimately ban TikTok from the United States over national security concerns.', 'The US Senate is expected to take up that measure as early as this week, as part of a vote on foreign aid to Israel and Ukraine.', 'The latest EU probe represents the first time Commission officials have flexed their power using certain new tools granted to them under Europe’s far-reaching new law regulating online platforms, the Digital Services Act (DSA).', '“This is a demonstration of the fact that when we say minor protection is a priority under the DSA, we really mean it,” a European Commission official told reporters Monday.', '“We are disappointed with this decision,” a TikTok spokesperson said in response to the EU warnings. “', 'The TikTok Lite rewards hub is not available to under 18s, and there is a daily limit on video watch tasks.', 'We will continue discussions with the Commission.”', 'The European Commission said Mondayit had given TikTok 48 hours to defend its reward program to officials, after which TikTok could be ordered to suspend the rewards feature in TikTok Lite as an urgent temporary measure.', 'A decision to order the suspension could come as early as Thursday, commission officials told reporters on a conference call.', 'A suspension could last 60 days and be repeatedly renewed.', 'In addition, TikTok could be fined for failing to provide information it owes to the Commission about TikTok Lite, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.', 'EU officials first sent theirrequest for informationlast week.', 'It is separate from anotherongoing DSA investigationinto TikTok, launched in February, over the company’s approach to user harms more generally.', 'Failure to hand over the TikTok Lite risk assessment by Tuesday, and the risk mitigation report by May 3, could result in fines of up to 1% of TikTok’s global annual revenue and “periodic penalties” of up to 5% of TikTok’s average daily revenue, the Commission said.', 'TikTok could face further, additional fines of up to 6% of its global annual revenue if the TikTok Lite features the Commission is investigating are determined to be violations of the DSA.', 'Both the possible forced suspension and the potential fines are procedural tools the European Commission has not used before under the DSA, a commission official said.', '“So far this has never been necessary, because in all our 40-plus requests for information that have been sent, companies have always supplied the information,” the official told reporters on the call. “', 'Generally speaking, we’ve never not received the reply to our request for information.”', 'Commission officials repeatedly declined to say whether TikTok had offered an explanation for why it did not submit the requested information.', 'This story has been updated with additional information.']",-0.103852692030063,"The European Commission said Mondayit had given TikTok 48 hours to defend its reward program to officials, after which TikTok could be ordered to suspend the rewards feature in TikTok Lite as an urgent temporary measure.","In addition, TikTok could be fined for failing to provide information it owes to the Commission about TikTok Lite, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.",-0.9902668595314026,,"TikTok could face further, additional fines of up to 6% of its global annual revenue if the TikTok Lite features the Commission is investigating are determined to be violations of the DSA.",2024-04-26
-The home insurance market is crumbling. These owners are paying the price,https://edition.cnn.com/2024/03/29/economy/home-insurance-prices-climate-change/index.html,"
-  Updated
-        2:34 PM EDT, Fri April 26, 2024
-    ","The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with few options for coverage — and skyrocketing insurance premiums.
-    
-            Herrera, 35, works in finance for a local bank. He bought his 900-square-foot home in New Orleans’ Mid-City neighborhood in 2020 for $270,000, and lives there with his partner.
-    
-            In 2022, he paid $1,600 a year for home insurance. But last July, his insurer canceled his coverage, saying it was leaving Louisiana.
-    
-            In the past, acquiring or keeping homeowners’ insurance didn’t present much of a problem.
-    
-            But as climate change increases the frequency and severity of extreme weather, insurers — especially those in areas most impacted by floods and fires — are raising their premiums, or pulling out altogether, impacting the affordability and availability of home and fire insurance.
-    
-            Herrera shopped around for a new plan, but he struggled to find a policy. Louisiana Citizens, the insurer of last resort for property owners in the state, was out of the question. It would have cost more than $7,000 annually.
-    
-            Herrera eventually found a policy with a small company in the state that charged him $4,930 annually — a 208% increase from what he paid in 2022.
-    
-            “It’s a very difficult situation,” he said. He never imagined that when he bought his home, private insurance options would be this limited and the last resort insurer would be so expensive.
-    
-            “We’re against the wall,” Herrera said. “There’s no competition.”
-    
-            Herrera’s insurance story is common in Louisiana and other places across the country at increasingly higher risk for extreme weather.
-    
-            There were a record 28 weather and climate disasters with losses totaling over $1 billion last year in America, according to the National Oceanic and Atmospheric Administration. By comparison, between 1980 and 2023, the typical annual average for these events was 8.5.
-    
-            A Louisiana State University survey last year found that 17% of Louisiana homeowners reported their provider canceled their policy. Sixty-three percent of policyholders said the cost of their insurance coverage increased from the prior year, the survey found.
-    
-            There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, said Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association.
-    
-            The main drivers are the higher costs insurers face, including from more severe storms; higher replacement costs; and re-insurance, the type of insurance used by insurers to limit their risks. These are passed on to consumers. So even if a homeowner doesn’t live in a high-risk area, that owner is likely paying a higher premium to cover people in the riskiest places.
-    
-            In 2023, Neil Fernandes paid $1,700 a year for Farmers Insurance coverage for his home in Santa Clarita, California, where the 42-year-old software engineer lives with his wife and child.
-    
-            But last year, Farmers said it was raising his premium to $3,200. When he asked why, Farmers cited rising costs and increased fire hazards in the state. Fernandes said the fire hazards around his home haven’t changed and he lives a quarter mile from a fire station.
-    
-            He started shopping around for other policies, but he found limited options.
-    
-            Frustrated by the lack of choices, he switched to AAA home insurance for $2,880 a year.
-    
-            He and his family have had to change their lifestyle to cover the increase. He’s driving less to save on car insurance. They aren’t eating out as much, or traveling, and are putting off home improvement upgrades.
-    
-            Fernandes is challenging AAA’s assessment of his home insurance value, which he said is over-estimated.
-    
-            AAA did not comment to CNN.
-    
-            And he worries about more home insurance price shocks in the future, something he did not anticipate when he bought his home.
-    
-            “As a home owner, I always worry about things like paying taxes for good schools and community upkeep,” he said. “Now I have to worry about insurance coverage.”
-    
-            In some places most exposed to climate change, insurers have stopped issuing policies.
-    
-            In May, State Farm, the largest home insurer in California, announced it would pause issuing policies in that state, citing wildfire risks. Farmers Insurance deemed it too risky to continue insuring homes in Florida and pulled out of the market there entirely.
-    
-            On March 20, State Farm said it would not renew 72,000 home insurance policies in California, representing just over 2% of the company’s policies in the state. The company cited “inflation, catastrophe exposure [and] reinsurance costs” among the reasons.
-    
-            More people are being driven to the state-supported “insurer of last resort,” where they typically have to pay more money for a narrower policy. 
-    
-            More states are looking to start state-backed insurance providers as companies pull out.
-    
-            In Florida, Citizens Property Insurance has seen the number of policies it has issued rise about 50% in the last year alone to 1.3 million — equal to 16% of the market and far more than any national insurer writes in the state.
-    
-            The US Senate Budget Committee is launching an investigation into whether Florida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters.
-    
-            But climate change isn’t the only factor driving up costs. Insurance companies also point to the rising cost of replacing homes, as inflation for building supplies and labor has soared.
-    
-            The insurance industry says that rebuilding and replacement costs surged 55% between 2019 and 2022. Costs have since fallen, however. And reinsurance has gone up between 30% and 40% after years of losses in the industry, according to Matthew Carletti, an insurance industry analyst for JMP Securities.
-    
-            Homeowners who have a mortgage are not able to go without homeowners insurance as their mortgage servicer will require an escrow account for insurance. But for those who have paid off their home or bought it with cash, the high additional costs of homeowners insurance and the challenge of getting it can lead some to take their chances without it.
-    
-            Some 6 million homeowners chose to forgo homeowners insurance, according to a report from the Consumer Federation of America. That’s about 7.4% of all homeowners in the country, and amounts to about $1.6 trillion of unprotected value.
-    
-            CFA warned that the problem of uninsured homes is likely to get worse in coming years unless major investments in climate change adaptation and stronger oversight of the insurance industry are made.
-    
-            Diana Troxell and her husband are not sure how they will pay for their 250% annual premium increase for their manufactured home in rural Cottonwood, California. Right now, they are getting help from family to pay for groceries and gas.
-    
-            Troxell, 76, works seasonally as a face painter at the county fair. She and her husband rely primarily on Social Security to scrape by.
-    
-            They have lived in their home for 19 years and had a policy with Foremost Insurance, paying about $1,910 a year.
-    
-            But Foremost last year told them their policy would not be renewed due to wildfire exposure.
-    
-            “We went into a shock mode,” she said. “We couldn’t figure out what to do.”
-    
-            They looked to sell their home and rent in California, but they couldn’t afford it.
-    
-            With no other insurance options available, they turned to California FAIR Plan, a state program for residents and businesses who can’t obtain insurance through a regular insurance company. In 2021, the FAIR Plan accounted for 3% of the state’s policies in 2021, nearly double the share from 2018.
-    
-            Now they are paying about $6,660 a year through the FAIR plan.
-    
-            “We’re in ‘how are we going to do this’ mode?” she said. “We’re living month to month.”
-    
-            CNN’s Ella Nilsen contributed to this article.",CNN,26/04/2024,"['The home insurance market is crumbling in New Orleans, leaving Alfredo Herrera with few options for coverage — and skyrocketing insurance premiums.', 'Herrera, 35, works in finance for a local bank.', 'He bought his 900-square-foot home in New Orleans’ Mid-City neighborhood in 2020 for $270,000, and lives there with his partner.', 'In 2022, he paid $1,600 a year for home insurance.', 'But last July, his insurer canceled his coverage, saying it was leaving Louisiana.', 'In the past, acquiring or keeping homeowners’ insurance didn’t present much of a problem.', 'But as climate change increases the frequency and severity of extreme weather, insurers —especially those in areas most impacted byfloodsand fires —are raising their premiums, or pulling out altogether,impacting the affordability and availability ofhome and fire insurance.', 'Herrera shopped around for a new plan, but he struggled to find a policy.', 'Louisiana Citizens, the insurer of last resort for property owners in the state, was out of the question.', 'It would have cost more than $7,000 annually.', 'Herrera eventually found a policy with a small company in the state that charged him $4,930 annually — a 208% increase from what he paid in 2022.', '“It’s a very difficult situation,” he said.', 'He never imagined that when he bought his home, private insurance options would be this limited and the last resort insurer would be so expensive.', '“We’re against the wall,” Herrera said. “', 'There’s no competition.”', 'Herrera’s insurance story is common in Louisiana and other places across the country at increasingly higher risk for extreme weather.', 'There were a record 28 weather and climate disasters with losses totaling over $1 billion last year in America,according to the National Oceanic and Atmospheric Administration.', 'By comparison, between 1980 and 2023, the typical annual average for these events was 8.5.', 'A Louisiana State University survey last year found that 17% of Louisiana homeowners reported their provider canceled their policy.', 'Sixty-three percent of policyholders said the cost of their insurance coverage increased from the prior year, the survey found.', 'There was roughly a 10% to 12% increase in homeowners’ insurance costs last year in the United States, said Mark Friedlander, spokesperson for the Insurance Information Institute, a nonprofit industry association.', 'The main drivers are the higher costs insurers face, including from more severe storms; higher replacement costs; and re-insurance, the type of insurance used by insurers to limit their risks.', 'These are passed on to consumers.', 'So even if a homeowner doesn’t live in a high-risk area, that owner is likely paying a higher premium to cover people in the riskiest places.', 'In 2023, Neil Fernandes paid $1,700 a year for Farmers Insurance coverage for his home in Santa Clarita, California, where the 42-year-old software engineer lives with his wife and child.', 'But last year, Farmers said it was raising his premium to $3,200.', 'When he asked why, Farmers cited rising costs and increased fire hazards in the state.', 'Fernandes said the fire hazards around his home haven’t changed and he lives a quarter mile from a fire station.', 'He started shopping around for other policies, but he found limited options.', 'Frustrated by the lack of choices, he switched to AAA home insurance for $2,880 a year.', 'He and his family have had to change their lifestyle to cover the increase.', 'He’s driving less to save on car insurance.', 'They aren’t eating out as much, or traveling, and are putting off home improvement upgrades.', 'Fernandes is challenging AAA’s assessment of his home insurance value, which he said is over-estimated.', 'AAA did not comment to CNN.', 'And he worries about more home insurance price shocks in the future, something he did not anticipate when he bought his home.', '“As a home owner, I always worry about things like paying taxes for good schools and community upkeep,” he said. “', 'Now I have to worry about insurance coverage.”', 'In some places most exposed to climate change, insurers have stopped issuing policies.', 'In May, State Farm, the largest home insurer in California, announced it would pause issuing policies in that state, citing wildfire risks.', 'Farmers Insurance deemed it too risky to continue insuring homes in Florida and pulled out of the market there entirely.', 'On March 20, State Farm said it would not renew 72,000 home insurance policies in California, representing just over 2% of the company’s policies in the state.', 'The company cited “inflation, catastrophe exposure [and] reinsurance costs” among the reasons.', 'More people are being driven to the state-supported “insurer of last resort,” where they typically have to pay more money for a narrower policy.', 'More states are looking to start state-backed insurance providers as companies pull out.', 'In Florida, Citizens Property Insurance has seen the number of policies it has issued rise about 50% in the last year alone to 1.3 million — equal to 16% of the market and far more than any national insurer writes in the state.', 'The US Senate Budget Committee is launching an investigation intowhetherFlorida’s state-backed home and property insurance company has enough money in the bank to withstand future disasters.', 'But climate change isn’t the only factor driving up costs.', 'Insurance companies also point to the rising cost of replacing homes, as inflation for building supplies and labor has soared.', 'The insurance industry says that rebuilding and replacement costs surged 55% between 2019 and 2022.', 'Costs have since fallen, however.', 'And reinsurance has gone up between 30% and 40% after years of losses in the industry, according to Matthew Carletti, an insurance industry analyst for JMP Securities.', 'Homeowners who have a mortgage are not able to go without homeowners insurance as their mortgage servicer will require an escrow account for insurance.', 'But for those who have paid off their home or bought it with cash, the high additional costs of homeowners insurance and the challenge of getting it can lead some to take their chances without it.', 'Some 6 million homeowners chose to forgo homeowners insurance, according to a report from the Consumer Federation of America.', 'That’s about 7.4% of all homeowners in the country, and amounts to about $1.6 trillion of unprotected value.', 'CFA warned that the problem of uninsured homes is likely to get worse in coming years unless major investments in climate change adaptation and stronger oversight of the insurance industry are made.', 'Diana Troxell and her husband are not sure how they will pay for their 250% annual premium increase for their manufactured home in rural Cottonwood, California.', 'Right now, they are getting help from family to pay for groceries and gas.', 'Troxell, 76, works seasonally as a face painter at the county fair.', 'She and her husband rely primarily on Social Security to scrape by.', 'They have lived in their home for 19 years and had a policy with Foremost Insurance, paying about $1,910 a year.', 'But Foremost last year told them their policy would not be renewed due to wildfire exposure.', '“We went into a shock mode,” she said. “', 'We couldn’t figure out what to do.”', 'They looked to sell their home and rent in California, but they couldn’t afford it.', 'With no other insurance options available, they turned to California FAIR Plan, a state program for residents and businesses who can’t obtain insurance through a regular insurance company.', 'In 2021, the FAIR Plan accounted for 3% of the state’s policies in 2021, nearly double the share from 2018.', 'Now they are paying about $6,660 a year through the FAIR plan.', '“We’re in ‘how are we going to do this’ mode?”', 'she said. “', 'We’re living month to month.”', 'CNN’s Ella Nilsen contributed to this article.']",-0.0690198957186037,"In 2021, the FAIR Plan accounted for 3% of the state’s policies in 2021, nearly double the share from 2018.","There were a record 28 weather and climate disasters with losses totaling over $1 billion last year in America,according to the National Oceanic and Atmospheric Administration.",-0.3159444723278284,"And reinsurance has gone up between 30% and 40% after years of losses in the industry, according to Matthew Carletti, an insurance industry analyst for JMP Securities.",CFA warned that the problem of uninsured homes is likely to get worse in coming years unless major investments in climate change adaptation and stronger oversight of the insurance industry are made.,2024-04-26
-"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html,"
-  Updated
-        8:16 AM EDT, Wed March 27, 2024
-    ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours.
-    
-            On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”
-    
-            “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”
-    
-            Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.
-    
-            “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.
-    
-            In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.
-    
-            Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”
-    
-            “Has Cesar lost the room?” wondered a third media executive.
-    
-            While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.
-    
-            “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.
-    
-            Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.”
-    
-            Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.
-    
-            Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.
-    
-            NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports.
-    
-            While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.
-    
-            “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-04-26
-Poppy Harlow announces she will exit CNN after nearly two decades,https://edition.cnn.com/2024/04/26/media/poppy-harlow-exit-cnn/index.html,"
-  Updated
-        12:31 PM EDT, Fri April 26, 2024
-    ","Poppy Harlow, the longtime CNN anchor who most recently co-helmed “CNN This Morning,” announced Friday that she will exit the network.
-    
-            “The nearly two decades since have been a gift,” Harlow wrote in an email to colleagues. “I have been inspired by you and learned so much from you – who are (and will remain) dear friends.”
-    
-            “I grew up here: as a journalist and as a person,” Harlow added. “I was allowed to stumble, to falter, and then to try again with the support and care of this CNN family. This place has shaped me as a leader, taught me resilience, shown me the value of perspective and how to make hard decisions.”
-    
-            Mark Thompson, CNN’s chief executive, praised Harlow as a “unique talent who combines formidable reporting and interviewing prowess with a human touch that audiences have always responded to.”
-    
-            “She’s been a wonderful colleague at CNN, and we know she will have much success in her future endeavors,” Thompson said.
-    
-            Amy Entelis, executive vice president of talent and content, also praised Harlow in a statement, saying she “leaves CNN after more than 16 memorable years, thousands of hours in the anchor chair and hundreds of reports from the field.”
-    
-            “Poppy is a brilliant journalist who sets the standard for reporting with compassion and humanity, and we will miss her,” Entelis said.
-    
-            Harlow joined CNN in 2008 and worked in a variety of roles at the network. During her time, she reported across the world on some of the biggest and most consequential news stories, including the 2013 Boston Marathon bombings and 2015 Paris terror attacks.
-    
-            Harlow, who has a background in business journalism, hosted the “Boss Files” podcast and also regularly landed notable executives for interviews, including Warren Buffet, Mark Zuckerberg, Bill and Melinda Gates, Susan Wojcicki, Jamie Dimon and others.
-    
-            In 2022, then-CNN chief Chris Licht tapped Harlow to help relaunch the network’s flagship morning show. Harlow became co-host with Kaitlan Collins and Don Lemon. The show, however, struggled to capture an audience and behind-the-scenes drama fueled tabloid headlines. Lemon was ultimately dismissed from the network and Collins was moved to helm a solo prime time show.
-    
-            Thompson, after taking over from Licht, announced in February that he would reconfigure CNN’s morning lineup. “CNN This Morning” changed time slots and moved to Washington, D.C., where it is now hosted by Kasie Hunt.
-    
-            The new morning show lineup left Harlow without an anchor slot. CNN engaged in discussions with Harlow, but ultimately she decided to exit the network.
-    
-            In her email to colleagues, Harlow said that in the immediate future she looks forward to spending more time with family.
-    
-            “For now, my plan is to walk our children to school and pick them up (hopefully they won’t get sick of me!), and to support the evolution of journalism in every way I can, while preserving the human(ity) in it,” Harlow wrote. “I’m excited for what is ahead – and I will be rooting for CNN always.”",CNN,26/04/2024,"['Poppy Harlow, the longtime CNN anchor who most recently co-helmed “CNN This Morning,” announced Friday that she will exit the network.', '“The nearly two decades since have been a gift,” Harlow wrote in an email to colleagues. “', 'I have been inspired by you and learned so much from you – who are (and will remain) dear friends.”', '“I grew up here: as a journalist and as a person,” Harlow added. “', 'I was allowed to stumble, to falter, and then to try again with the support and care of this CNN family.', 'This place has shaped me as a leader, taught me resilience, shown me the value of perspective and how to make hard decisions.”', 'Mark Thompson, CNN’s chief executive, praised Harlow as a “unique talent who combines formidable reporting and interviewing prowess with a human touch that audiences have always responded to.”', '“She’s been a wonderful colleague at CNN, and we know she will have much success in her future endeavors,” Thompson said.', 'Amy Entelis, executive vice president of talent and content, also praised Harlow in a statement, saying she “leaves CNN after more than 16 memorable years, thousands of hours in the anchor chair and hundreds of reports from the field.”', '“Poppy is a brilliant journalist who sets the standard for reporting with compassion and humanity, and we will miss her,” Entelis said.', 'Harlow joined CNN in 2008 and worked in a variety of roles at the network.', 'During her time, she reported across the world on some of the biggest and most consequential news stories, including the 2013 Boston Marathon bombings and 2015 Paris terror attacks.', 'Harlow, who has a background in business journalism, hosted the “Boss Files” podcast and also regularly landed notable executives for interviews, including Warren Buffet, Mark Zuckerberg, Bill and Melinda Gates, Susan Wojcicki, Jamie Dimon and others.', 'In 2022, then-CNN chief Chris Licht tapped Harlow to help relaunch the network’s flagship morning show.', 'Harlow became co-host with Kaitlan Collins and Don Lemon.', 'The show, however, struggled to capture an audience and behind-the-scenes drama fueled tabloid headlines.', 'Lemon was ultimately dismissed from the network and Collins was moved to helm a solo prime time show.', 'Thompson, after taking over from Licht, announced in February that he would reconfigure CNN’s morning lineup. “', 'CNN This Morning” changed time slots and moved to Washington, D.C., where it is now hosted by Kasie Hunt.', 'The new morning show lineup left Harlow without an anchor slot.', 'CNN engaged in discussions with Harlow, but ultimately she decided to exit the network.', 'In her email to colleagues, Harlow said that in the immediate future she looks forward to spending more time with family.', '“For now, my plan is to walk our children to school and pick them up (hopefully they won’t get sick of me!),', 'and to support the evolution of journalism in every way I can, while preserving the human(ity) in it,” Harlow wrote. “', 'I’m excited for what is ahead – and I will be rooting for CNN always.”']",0.213841464833888,I have been inspired by you and learned so much from you – who are (and will remain) dear friends.”,"During her time, she reported across the world on some of the biggest and most consequential news stories, including the 2013 Boston Marathon bombings and 2015 Paris terror attacks.",0.4654355777634514,"“She’s been a wonderful colleague at CNN, and we know she will have much success in her future endeavors,” Thompson said.","The show, however, struggled to capture an audience and behind-the-scenes drama fueled tabloid headlines.",2024-04-26
-How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html,"
-  Published
-        3:00 PM EDT, Wed March 20, 2024
-    ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.
-    
-            That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).
-    
-            But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.
-    
-            That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.
-    
-            However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.”
-    
-            So, consider the following options when deciding where to park your hard-earned savings.
-    
-            The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.
-    
-            By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.
-    
-            Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.
-    
-            While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.
-    
-            As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement.
-    
-            Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.
-    
-            You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.
-    
-            As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.
-    
-            If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.
-    
-            To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties.
-    
-            As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.
-    
-            Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854.
-    
-            “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said.
-    
-            If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.
-    
-            For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD.
-    
-            But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.
-    
-            If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.
-    
-            Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.
-    
-            But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.
-    
-            Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.
-    
-            Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.
-    
-            Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.
-    
-            If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.
-    
-            And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.
-    
-            When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.
-    
-            What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said.
-    
-            That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake.
-    
-            Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-04-26
-Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html,"
-  Published
-        7:49 AM EDT, Wed April 27, 2022
-    ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales.
-    
-            Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag.
-    
-            “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.
-    
-            He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.
-    
-            Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. 
-    
-            “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” 
-    
-            Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.
-    
-            “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone.
-    
-            “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” 
-    
-            This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.
-    
-            The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.
-    
-            Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.
-    
-            Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.
-    
-            Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.
-    
-            Although its slice is growing, the market share for man-made diamonds remains relatively small.
-    
-            Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. 
-    
-            Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora
-            
-                (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. 
-    
-            Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.
-    
-            Signet,
-            
-                (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.
-    
-            Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. 
-    
-            The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. 
-    
-            Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.
-    
-            “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”
-    
-            Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.
-    
-            There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. 
-    
-            So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. 
-    
-            But the value of a ring isn’t just monetary.
-    
-            “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora  (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet,  (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-04-26
-Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html,"
-  Published
-        1:17 PM EDT, Tue March 26, 2024
-    ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.
-    
-            On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.
-    
-            Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.
-    
-            Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.
-    
-            The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.
-    
-            And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.
-    
-            “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.
-    
-            “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.
-    
-            X said it plans to appeal Breyer’s decision.
-    
-            In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits.
-    
-            He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X.
-    
-            This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.
-    
-            The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”
-    
-            As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.
-    
-            “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”
-    
-            A representative for X did not immediately respond to a request for comment about Carusone’s claims.
-    
-            Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.
-    
-            Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.
-    
-            The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.
-    
-            Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.
-    
-            “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.”
-    
-            “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”
-    
-            Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.
-    
-            “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.
-    
-            Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X.  This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-04-26
-Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html,"
-  Published
-        9:50 AM EST, Tue November 21, 2023
-    ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days.
-    
-            It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?
-    
-            OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is.
-    
-            This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried.
-    
-            But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.
-    
-            AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker.
-    
-            But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read).
-    
-            AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”
-    
-            Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.
-    
-            Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?
-    
-            One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.
-    
-            “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step.
-    
-            So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.
-    
-            The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-04-26
-Why this campus turmoil story is so complex,https://edition.cnn.com/2024/04/26/business/campus-turmoil-complex/index.html,"
-  Updated
-        7:53 AM EDT, Fri April 26, 2024
-    ","The nuance and history of the Israeli-Palestinian conflict remains difficult to capture succinctly, particularly during escalating turmoil among groups with deep-held — and entrenched — views on the issue.
-    
-            Students inside campus encampments that have spread across the United States over the past week are from a variety of backgrounds — including Palestinians, Arabs, Jews and Muslims, joined by students of other religious and ethnic backgrounds. They hold a spectrum of political and social views too: liberal and heterodox, progressive and absolutist. Many have been motivated by the reports and video coming out of Gaza that is often unbearable to watch. Many of these students see the actions of the Israeli military in Gaza as a continuation of a more than 70-year-long oppression of Palestinian rights, land and culture. Protesters say they want their schools to stand against what they believe is genocide in Gaza.
-    
-            CAIR has reported record incidents of Islamophobia on campus, and the Anti-Defamation League has recorded a historic number of incidents of violence and threats against Jewish students. Some Jewish students have said they were threatened by protesters and encountered antisemitic rhetoric at some of the rallies over the past week, and those concerns were amplified by pro-Israel (and some American) politicians. The White House and multiple governors have voiced support for Jewish students and urged protesters and universities to exercise restraint.
-    
-            As antisemitism has surged to record levels since Hamas’ attack on October 7, 2023, many Jews feel Israel requires more support now than ever – as a refuge for Jews, who have long been an oppressed minority. Even if they oppose Prime Minister Benjamin Netanyahu’s policies and the country’s actions in Gaza, many Jews believe anti-Israel and anti-Zionist sentiment and even peaceful protest of Israel is itself antisemitic, because the concept of Israel as a Jewish homeland is core to Judaism. And some support the Israeli government’s efforts to crush Hamas in Gaza.
-    
-            CNN reporting on the ground has largely described students inside the encampments engaging in activities like poetry readings, painting and completing school assignments. There have also been examples of multi-faith prayers and group dancing. Yet hundreds of protesters have been arrested for trespassing and for violating school rules, including blocking access to campus buildings or other disruptions on campus. The protests and some protesters’ social media posts have made some Jewish students feel unsafe, even as most university administrators have largely resisted taking action against protesters exercising their right to free expression in an unobtrusive, nonviolent manner, as the vast majority of the protests have been. Advocates of the protesters, including some politicians, have criticized the universities’ responses, including the arrests.",CNN,26/04/2024,"['The nuance and history of the Israeli-Palestinian conflict remains difficult to capture succinctly, particularly during escalating turmoil among groups with deep-held — and entrenched — views on the issue.', 'Students inside campus encampments that have spread across the United States over the past week are from a variety of backgrounds — including Palestinians, Arabs, Jews and Muslims, joined by students of other religious and ethnic backgrounds.', 'They hold a spectrum of political and social views too: liberal and heterodox, progressive and absolutist.', 'Many have been motivated by the reports and video coming out of Gaza that is often unbearable to watch.', 'Many of these students see the actions of the Israeli military in Gaza as a continuation of a more than 70-year-long oppression of Palestinian rights, land and culture.', 'Protesters say they want their schools to stand against what they believe is genocide in Gaza.', 'CAIR has reported record incidents of Islamophobia on campus, and the Anti-Defamation League has recorded a historic number of incidents of violence and threats against Jewish students.', 'Some Jewish students have said they were threatened by protesters and encountered antisemitic rhetoric at some of the rallies over the past week, and those concerns were amplified by pro-Israel (and some American) politicians.', 'The White House and multiple governors have voiced support for Jewish students and urged protesters and universities to exercise restraint.', 'As antisemitism has surged to record levels since Hamas’ attack on October 7, 2023, many Jews feel Israel requires more support now than ever – as a refuge for Jews, who have long been an oppressed minority.', 'Even if they oppose Prime Minister Benjamin Netanyahu’s policies and the country’s actions in Gaza, many Jews believe anti-Israel and anti-Zionist sentiment and even peaceful protest of Israel is itself antisemitic, because the concept of Israel as a Jewish homeland is core to Judaism.', 'And some support the Israeli government’s efforts to crush Hamas in Gaza.', 'CNN reporting on the ground has largely described students inside the encampments engaging in activities like poetry readings, painting and completing school assignments.', 'There have also been examples of multi-faith prayers and group dancing.', 'Yet hundreds of protesters have been arrested for trespassing and for violating school rules, including blocking access to campus buildings or other disruptions on campus.', 'The protests and some protesters’ social media posts have made some Jewish students feel unsafe, even as most university administrators have largely resisted taking action against protesters exercising their right to free expression in an unobtrusive, nonviolent manner, as the vast majority of the protests have been.', 'Advocates of the protesters, including some politicians, have criticized the universities’ responses, including the arrests.']",-0.1635614746264136,"CNN reporting on the ground has largely described students inside the encampments engaging in activities like poetry readings, painting and completing school assignments.","Yet hundreds of protesters have been arrested for trespassing and for violating school rules, including blocking access to campus buildings or other disruptions on campus.",0.0094680488109588,"As antisemitism has surged to record levels since Hamas’ attack on October 7, 2023, many Jews feel Israel requires more support now than ever – as a refuge for Jews, who have long been an oppressed minority.","The protests and some protesters’ social media posts have made some Jewish students feel unsafe, even as most university administrators have largely resisted taking action against protesters exercising their right to free expression in an unobtrusive, nonviolent manner, as the vast majority of the protests have been.",2024-04-26
-"Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending",https://www.cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html,2024-04-23T15:51:01+0000,"In this articleWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer's more than 4,600 U.S. stores, CNBC has learned.The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider of installment loans for Walmart customers since 2019. It's a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks.It also likely signals that a battle is brewing in the store aisles and ecommerce portals of America's largest retailer. At stake is the role of a wide spectrum of players, from fintech firms to card companies and established banks.One's push into lending is the clearest sign yet of its ambition to become a financial superapp, a mobile one-stop shop for saving, spending and borrowing money.Since it burst onto the scene in 2021, luring Goldman Sachs veteran Omer Ismail as CEO, the fintech startup has intrigued and threatened a financial landscape dominated by banks — and poached talent from more established lenders and payments firms.But the company, based out of a cramped Manhattan WeWork space, has operated mostly in stealth mode while developing its early products, including a debit account released in 2022.Now, One is going head-to-head with some of Walmart's existing partners like Affirm who helped the retail giant generate $648 billion in revenue last year.On a recent visit by CNBC to a New Jersey Walmart location, ads for both One and Affirm vied for attention among the Apple products and Android smartphones in the store's electronics section.Offerings from both One and Affirm were available at checkout, and loans from either provider were available for purchases starting at around $100 and costing as much as several thousand dollars at an annual interest rate of between 10% to 36%, according to their respective websites.Electronics, jewelry, power tools and automotive accessories are eligible for the loans, while groceries, alcohol and weapons are not.Buy now, pay later has gained popularity with consumers for everyday items as well as larger purchases. From January through March of this year, BNPL drove $19.2 billion in online spending, according to Adobe Analytics. That's a 12% year-over-year increase.Walmart and One declined to comment for this article.One's expanding role at Walmart raises the possibility that the company could force Affirm, Capital One and other third parties out of some of the most coveted partnerships in American retail, according to industry experts.""I have to imagine the goal is to have all this stuff, whether it's a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart's physical footprint,"" said Jason Mikula, a consultant formerly employed at Goldman's consumer division.Affirm declined to comment about its Walmart partnership. Shares of Affirm climbed 2% Tuesday, rebounding after falling more than 8% in premarket activity.For Walmart, One is part of its broader effort to develop new revenue sources beyond its retail stores in areas including finance and health care, following rival Amazon's playbook with cloud computing and streaming, among other segments. Walmart's newer businesses have higher margins than retail and are a part of its plan to grow profits faster than sales.In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.When it comes to finance, One is just Walmart's latest attempt to break into the banking business. Starting in the 1990s, Walmart made repeated efforts to enter the industry through direct ownership of a banking arm, each time getting blocked by lawmakers and industry groups concerned that a ""Bank of Walmart"" would crush small lenders and squeeze big ones.To sidestep those concerns, Walmart adopted a more arms-length approach this time around. For One, the retailer created a joint venture with investment firm firm Ribbit Capital — known for backing fintech firms including Robinhood, Credit Karma and Affirm — and staffed the business with executives from across finance.Walmart has not disclosed the size of its investment in One.The startup has said that it makes decisions independent of Walmart, though its board includes Walmart U.S. CEO, John Furner, and its finance chief, John David Rainey.One doesn't have a banking license, but partners with Coastal Community Bank for the debit card and installment loans.After its failed early attempts in banking, Walmart pursued a partnership strategy, teaming up with a constellation of providers, including Capital One, Synchrony, MoneyGram, Green Dot, and more recently, Affirm. Leaning on partners, the retailer opened thousands of physical MoneyCenter locations within its stores to offer check cashing, sending and receiving payments, and tax services.But Walmart and One executives have made no secret of their ambition to become a major player in financial services by leapfrogging existing players with a clean-slate effort.One's no-fee approach is especially relevant to low- and middle-income Americans who are ""underserved financially,"" Rainey, a former PayPal executive, noted during a December conference.""We see a lot of that customer demographic, so I think it gives us the ability to participate in this space in maybe a way that others don't,"" Rainey said. ""We can digitize a lot of the services that we do physically today. One is the platform for that.""One could generate roughly $1.6 billion in annual revenue from debit cards and lending in the near term, and more than $4 billion if it expands into investing and other areas, according to Morgan Stanley.Walmart can use its scale to grow One in other ways. It is the largest private employer in the U.S. with about 1.6 million employees, and it already offers its workers early access to wages if they sign up for a corporate version of One.There are signs that One is making a deeper push into lending beyond installment loans.Walmart recently prevailed in a legal dispute with Capital One, allowing the retailer to end its credit-card partnership years ahead of schedule. Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.The lawsuit led to speculation that Walmart intends to have One take over management of the retailer's co-branded and store cards. In fact, in legal filings Capital One itself alleged that Walmart's rationale was less about servicing complaints and more about moving transactions to a company it owns.""Upon information and belief, Walmart intends to offer its branded credit cards through One in the future,"" Capital One said last year in response to Walmart's suit. ""With One, Walmart is positioning itself to compete directly with Capital One to provide credit and payment products to Walmart customers.""Capital One said last month that it could appeal the decision. The company declined to comment further.Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.""One has obtained lending licenses that allow it to operate in nearly every U.S. state, according to filings and its website. The company's app tells users that credit building and credit score monitoring services are coming soon.And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive.Fintech players including Block's Cash App, PayPal and Chime dominate account growth among people who switch bank accounts and have made inroads with Walmart's core demographic. The three services made up 60% of digital player signups last year, according to data and consultancy firm Curinos.But One has the advantage of being majority owned by a company whose customers make more than 200 million visits a week.It can offer them enticements including 3% cashback on Walmart purchases and a savings account that pays 5% interest annually, far higher than most banks, according to customer emails from One.Those terms keep customers spending and saving within the Walmart ecosystem and helps the retailer better understand them, Morgan Stanley analysts said in a 2022 research note.""One has access to Walmart's sizable and sticky customer base, the largest in retail,"" the analysts wrote. ""This captive and underserved customer base gives One a leg up vs. other fintechs.""",CNBC,23/04/2024,"[""In this articleWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer's more than 4,600 U.S. stores, CNBC has learned."", 'The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider ofinstallment loans for Walmart customers since 2019.', ""It's a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks."", ""It also likely signals that a battle is brewing in the store aisles and ecommerce portals of America's largest retailer."", 'At stake is the role of a wide spectrum of players, from fintech firms to card companies and established banks.', ""One's push into lending is the clearest sign yet of its ambition to become a financial superapp, a mobile one-stop shop for saving, spending and borrowing money."", 'Since it burst onto the scene in 2021, luring Goldman Sachs veteran Omer Ismail as CEO, the fintech startup has intrigued and threatened a financial landscape dominated by banks — and poached talent from more established lenders and payments firms.', ""But the company, based out of a cramped Manhattan WeWork space, has operated mostly in stealth mode while developing its early products, including a debit account released in 2022.Now, One is going head-to-head with some of Walmart's existing partners like Affirm who helped the retail giant generate $648 billion in revenue last year."", ""On a recent visit by CNBC to a New Jersey Walmart location, ads for both One and Affirm vied for attention among the Apple products and Android smartphones in the store's electronics section."", 'Offerings from both One and Affirm were available at checkout, and loans from either provider were available for purchases starting at around $100 and costing as much as several thousand dollars at an annual interest rate of between 10% to 36%, according to their respective websites.', 'Electronics, jewelry, power tools and automotive accessories are eligible for the loans, while groceries, alcohol and weapons are not.', 'Buy now, pay later has gained popularity with consumers for everyday items as well as larger purchases.', 'From January through March of this year, BNPL drove $19.2 billion in online spending, according to Adobe Analytics.', ""That's a 12% year-over-year increase."", 'Walmart and One declined to comment for this article.', ""One's expanding role at Walmart raises the possibility that the company could force Affirm, Capital One and other third parties out of some of the most coveted partnerships in American retail, according to industry experts."", '""I have to imagine the goal is to have all this stuff, whether it\'s a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart\'s physical footprint,"" said Jason Mikula, a consultant formerly employed at Goldman\'s consumer division.', 'Affirm declined to comment about its Walmart partnership.', 'Shares of Affirm climbed 2% Tuesday, rebounding after falling more than 8% in premarket activity.', ""For Walmart, One is part of its broader effort to develop new revenue sources beyond its retail stores in areas including finance and health care, following rival Amazon's playbook with cloud computing and streaming, among other segments."", ""Walmart's newer businesses have higher margins than retail and are a part of its plan to grow profits faster than sales."", 'In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.', ""When it comes to finance, One is just Walmart's latest attempt to break into the banking business."", 'Starting in the 1990s, Walmart made repeated efforts to enter the industry through direct ownership of a banking arm, each time getting blocked by lawmakers and industry groups concerned that a ""Bank of Walmart"" would crush small lenders and squeeze big ones.', 'To sidestep those concerns, Walmart adopted a more arms-length approach this time around.', 'For One, the retailer created a joint venture with investment firm firm Ribbit Capital — known for backing fintech firms including Robinhood, Credit Karma and Affirm — and staffed the business with executives from across finance.', 'Walmart has not disclosed the size of its investment in One.', 'The startup has said that it makes decisions independent of Walmart, though its board includes Walmart U.S. CEO, John Furner, and its finance chief, John David Rainey.', ""One doesn't have a banking license, but partners with Coastal Community Bank for the debit card and installment loans."", 'After its failed early attempts in banking, Walmart pursued a partnership strategy, teaming up with a constellation of providers, including Capital One, Synchrony, MoneyGram, Green Dot, and more recently, Affirm.', 'Leaning on partners, the retailer opened thousands of physical MoneyCenter locations within its stores to offer check cashing, sending and receiving payments, and tax services.', 'But Walmart and One executives have made no secret of their ambition to become a major player in financial services by leapfrogging existing players with a clean-slate effort.', 'One\'s no-fee approach is especially relevant to low- and middle-income Americans who are ""underserved financially,"" Rainey, a former PayPal executive, noted during a December conference.', '""We see a lot of that customer demographic, so I think it gives us the ability to participate in this space in maybe a way that others don\'t,"" Rainey said. ""', 'We can digitize a lot of the services that we do physically today.', 'One is the platform for that.', '""One could generate roughly $1.6 billion in annual revenue from debit cards and lending in the near term, and more than $4 billion if it expands into investing and other areas, according to Morgan Stanley.', 'Walmart can use its scale to grow One in other ways.', 'It is the largest private employer in the U.S. with about 1.6 million employees, and it already offers its workers early access to wages if they sign up for a corporate version of One.', 'There are signs that One is making a deeper push into lending beyond installment loans.', 'Walmart recently prevailed in a legal dispute with Capital One, allowing the retailer to end its credit-card partnership years ahead of schedule.', 'Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.', ""The lawsuit led to speculation that Walmart intends to have One take over management of the retailer's co-branded and store cards."", ""In fact, in legal filings Capital One itself alleged that Walmart's rationale was less about servicing complaints and more about moving transactions to a company it owns."", '""Upon information and belief, Walmart intends to offer its branded credit cards through One in the future,"" Capital One said last year in response to Walmart\'s suit. ""', 'With One, Walmart is positioning itself to compete directly with Capital One to provide credit and payment products to Walmart customers.', '""Capital One said last month that it could appeal the decision.', 'The company declined to comment further.', 'Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.', '""One has obtained lending licenses that allow it to operate in nearly every U.S. state, according to filings and its website.', ""The company's app tells users that credit building and credit score monitoring services are coming soon."", ""And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive."", ""Fintech players including Block's Cash App, PayPal and Chime dominate account growth among people who switch bank accounts and have made inroads with Walmart's core demographic."", 'The three services made up 60% of digital player signups last year, according to data and consultancy firm Curinos.', 'But One has the advantage of being majority owned by a company whose customers make more than 200 million visits a week.', 'It can offer them enticements including 3% cashback on Walmart purchases and a savings account that pays 5% interest annually, far higher than most banks, according to customer emails from One.', 'Those terms keep customers spending and saving within the Walmart ecosystem and helps the retailer better understand them, Morgan Stanley analysts said in a 2022 research note.', '""One has access to Walmart\'s sizable and sticky customer base, the largest in retail,"" the analysts wrote. ""', 'This captive and underserved customer base gives One a leg up vs. other fintechs.""']",0.1047730639049195,"Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.","Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.",0.5972028147606623,"In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.","And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive.",2024-04-25
-Ford tops first-quarter earnings estimates as commercial unit offsets EV losses,https://www.cnbc.com/2024/04/24/ford-f-earnings-q1-2024.html,2024-04-24T21:50:43+0000,"In this articleDETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter, offsetting losses of its electric vehicles.The company maintained its 2024 earnings guidance of adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion. It slightly lowered capital expenditure expectations and raised its adjusted free cash flow outlook for the year.The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion. Its forecast for capital expenditures is now $8 billion to $9 billion, narrower than the $8 billion to $9.5 billion range it originally estimated.Ford Chief Financial Officer John Lawler on Wednesday described the quarter as ""solid,"" with the company tracking to the higher end of its previously announced guidance.While the automaker beat earnings estimates, it slightly missed on automotive revenue. Here are the results for Ford's first quarter, compared with Wall Street expectations, according to LSEG:Ford's overall revenue for the first quarter, including its credit business, increased about 3% year over year to $42.78 billion.Net income for the period was $1.33 billion, or 33 cents per share, compared with $1.76 billion, or 44 cents, a year earlier. Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.Ford's traditional business, known as Ford Blue, reported adjusted earnings that were down 66% compared to a year earlier to $905 million. Its Ford Pro commercial business earned $3.01 billion, up 120% from the first quarter of last year. Ford's Model e electric vehicle unit posted a $1.32 billion loss from January through March.The notable decline in Ford Blue was related to the launch of the company's refreshed F-150 pickup, which it held shipments of during most of the quarter to address undisclosed quality issues.Ford CEO Jim Farley said the company avoided ""about 12 recalls"" thanks to the additional quality checks during the stop-shipment, helping to lower warranty costs for the company.""What we're going to see long-term is less recalls and lower warranty costs because of this new process,"" Farley said Wednesday during the company's first-quarter earnings call. ""I'm really proud of the team's progress and quality and we have so much more to do.""Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings. The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.Ford previously said it assembled 144,000 of the F-150 full-size and Ranger midsize pickups during the first quarter of the year. Those vehicles began shipping to dealers and customers earlier this month. Roughly 92% of the pickups built were F-150s.As part of its 2024 guidance, first released in February, Ford said it expected its EV business to lose between $5 billion and $5.5 billion this year. Ford Blue earnings were expected to be roughly flat at $7 billion to $7.5 billion for 2024, while Ford Pro was expected to come in around $8 billion to $9 billion for the full year.Lawler said Ford remains on track this year to take $2 billion in costs out of the business through reductions in things such as materials, freight and manufacturing. He said much of those savings will occur during the second half of the year.Ford's first-quarter earnings come a day after its crosstown rival General Motors reported strong first-quarter results and raised its full-year guidance.— CNBC's Michael Bloom contributed to this report.",CNBC,24/04/2024,"[""In this articleDETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter, offsetting losses of its electric vehicles."", 'The company maintained its 2024 earnings guidance of adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion.', 'It slightly lowered capital expenditure expectations and raised its adjusted free cash flow outlook for the year.', 'The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion.', 'Its forecast for capital expenditures is now $8 billion to $9 billion, narrower than the $8 billion to $9.5 billion range it originally estimated.', 'Ford Chief Financial Officer John Lawler on Wednesday described the quarter as ""solid,"" with the company tracking to the higher end of its previously announced guidance.', 'While the automaker beat earnings estimates, it slightly missed on automotive revenue.', ""Here are the results for Ford's first quarter, compared with Wall Street expectations, according to LSEG:Ford's overall revenue for the first quarter, including its credit business, increased about 3% year over year to $42.78 billion."", 'Net income for the period was $1.33 billion, or 33 cents per share, compared with $1.76 billion, or 44 cents, a year earlier.', 'Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.', ""Ford's traditional business, known as Ford Blue, reported adjusted earnings that were down 66% compared to a year earlier to $905 million."", 'Its Ford Pro commercial business earned $3.01 billion, up 120% from the first quarter of last year.', ""Ford's Model e electric vehicle unit posted a $1.32 billion loss from January through March."", ""The notable decline in Ford Blue was related to the launch of the company's refreshed F-150 pickup, which it held shipments of during most of the quarter to address undisclosed quality issues."", 'Ford CEO Jim Farley said the company avoided ""about 12 recalls"" thanks to the additional quality checks during the stop-shipment, helping to lower warranty costs for the company.', '""What we\'re going to see long-term is less recalls and lower warranty costs because of this new process,"" Farley said Wednesday during the company\'s first-quarter earnings call. ""', ""I'm really proud of the team's progress and quality and we have so much more to do."", '""Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.', 'The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.', 'Ford previously said it assembled 144,000 of the F-150 full-size and Ranger midsize pickups during the first quarter of the year.', 'Those vehicles began shipping to dealers and customers earlier this month.', 'Roughly 92% ofthe pickups builtwere F-150s.', 'As part of its 2024 guidance, first released in February, Ford said it expected its EV business to lose between $5 billion and $5.5 billion this year.', 'Ford Blue earnings were expected to be roughly flat at $7 billion to $7.5 billion for 2024, while Ford Pro was expected to come in around $8 billion to $9 billion for the full year.', 'Lawler said Ford remains on track this year to take $2 billion in costs out of the business through reductions in things such as materials, freight and manufacturing.', 'He said much of those savings will occur during the second half of the year.', ""Ford's first-quarter earnings come a day after its crosstown rival General Motors reported strong first-quarter results and raised its full-year guidance.—"", ""CNBC's Michael Bloom contributed to this report.""]",0.0596242489508853,I'm really proud of the team's progress and quality and we have so much more to do.,"The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.",0.0452342525772426,"The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion.","Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.",2024-04-25
-Tesla profits cut in half as demand falls,https://www.bbc.co.uk/news/articles/c72pvz18x4lo,2024-04-23T21:38:57.158Z,"Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023. It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced  thousands of job cuts. Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward. Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals. The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.   Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts' predictions of just over $22bn.  But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.  It did not reveal pricing details for the new vehicles.  However Mr Musk made clear he also grander ambitions, touting Tesla's AI credentials and plans for self-driving vehicles - even going as far as to say considering it to be just a car company was the ""wrong framework."" ""If somebody doesn't believe Tesla is going to solve autonomy I think they should not be an investor,"" he said. Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face ""technological, regulatory and operational challenges."" Some investors have called for the company to instead focus on releasing a lower price, mass-market EV. However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.  It also said its situation was not unique.  ""Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,"" it said.  Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.  Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.  The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located. However, Mr Musk sought to downplay the move.  ""Tesla has now created over 30,000 manufacturing jobs in California!"" he said in a post on his social media platform X, formerly Twitter, on Tuesday.  Another 285 jobs will be lost in New York.  Tesla's total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company's filings with US regulators.  The car firm is also facing other issues, with a struggle over Mr Musk's compensation still raging on. On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk's compensation package - once valued at $56bn - which had been rejected by a Delaware judge. The judge found Tesla's directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out. Due to the fall in Tesla's stock value, the compensation package is now estimated to be around $10bn less - but still greater than the GDP of many countries. In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas - which Mr Musk called for after the judge rejected his payday. ",BBC,23/04/2024,"['Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023.', 'It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced thousands of job cuts.', 'Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward.', 'Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals.', 'The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.', ""Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts' predictions of just over $22bn."", 'But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.', 'It did not reveal pricing details for the new vehicles.', 'However Mr Musk made clear he also grander ambitions, touting Tesla\'s AI credentials and plans for self-driving vehicles - even going as far as to say considering it to be just a car company was the ""wrong framework."" ""', 'If somebody doesn\'t believe Tesla is going to solve autonomy I think they should not be an investor,"" he said.', 'Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face ""technological, regulatory and operational challenges.""', 'Some investors have called for the company to instead focus on releasing a lower price, mass-market EV.', 'However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.', 'It also said its situation was not unique. ""', 'Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,"" it said.', 'Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.', 'Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.', ""The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located."", 'However, Mr Musk sought to downplay the move. ""', 'Tesla has now created over 30,000 manufacturing jobs in California!""', 'he said in a post on his social media platform X, formerly Twitter, on Tuesday.', 'Another 285 jobs will be lost in New York.', ""Tesla's total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company's filings with US regulators."", ""The car firm is also facing other issues, with a struggle over Mr Musk's compensation still raging on."", ""On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk's compensation package - once valued at $56bn - which had been rejected by a Delaware judge."", ""The judge found Tesla's directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out."", ""Due to the fall in Tesla's stock value, the compensation package is now estimated to be around $10bn less - but still greater than the GDP of many countries."", 'In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas - which Mr Musk called for after the judge rejected his payday.']",-0.0070112090732076,But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.,The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.,-0.2766771597020766,But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.,The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.,2024-04-25
-FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings,https://www.cnbc.com/2024/04/22/ftc-sues-to-block-tapestry-acquisition-of-capri-holdings.html,2024-04-22T21:58:59+0000,"The U.S. Federal Trade Commission on Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry.The move by regulators brings at least a temporary halt to a deal that would marry two major names in American luxury retail and put six fashion brands under a single company: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors. With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton.In a news release, the FTC said the combined company would harm shoppers and employees. It said Tapestry and Capri ""currently compete on everything from clothing to eyewear to shoes.""""With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,"" Henry Liu, director of the FTC's Bureau of Competition, said in the release. ""This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions.""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.""In a statement, the company said it must win the business of consumers who increasingly shop across brands, channels and price points.""The bottom line is that Tapestry and Capri face competitive pressures from both lower- and higher-priced products,"" it said. ""In bringing this case, the FTC has chosen to ignore the reality of today's dynamic and expanding $200 billion global luxury industry.""Capri echoed that argument in its own statement, saying consumers ""have hundreds of handbag choices at every price point across all channels, and barriers to entry are low.""Tapestry and Capri both said they will fight for the transaction in court, with Tapestry saying it will work ""expeditiously to close the transaction in calendar year 2024.""Tapestry announced the proposed acquisition in August. The deal had been expected to close in 2024. It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.When Tapestry unveiled the deal, CEO Joanne Crevoiserat told CNBC that the combined companies would be able to reach more customers across the globe. Together, the two companies would have over $12 billion in annual revenue and a presence in more than 75 countries.Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending. Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers.Led by Crevoiserat, Tapestry has raised the profile of Coach's brand, attracted younger shoppers, and tried to lean on fashion and loyalty, rather than deep discounts, to drive higher sales and profits. The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter.As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.",CNBC,22/04/2024,"[""The U.S. Federal Trade Commissionon Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry."", ""The move by regulators brings at least a temporary halt to a deal that would marry two major names in American luxury retail and put six fashion brands under a single company: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors."", ""With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton."", 'In a news release, the FTC said the combined company would harm shoppers and employees.', 'It said Tapestry and Capri ""currently compete on everything from clothing to eyewear to shoes.', '""""With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,"" Henry Liu, director of the FTC\'s Bureau of Competition, said in the release. ""', 'This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions.', '""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.', '""In a statement, the company said it must win the business of consumers who increasingly shop across brands, channels and price points.', '""The bottom line is that Tapestry and Capri face competitive pressures from both lower- and higher-priced products,"" it said. ""', ""In bringing this case, the FTC has chosen to ignore the reality of today's dynamic and expanding $200 billion global luxury industry."", '""Capri echoed that argument in its own statement, saying consumers ""have hundreds of handbag choices at every price point across all channels, and barriers to entry are low.', '""Tapestry and Capri both said they will fight for the transaction in court, with Tapestry saying it will work ""expeditiously to close the transaction in calendar year 2024.""Tapestry announced the proposed acquisition in August.', 'The deal had been expected to close in 2024.', 'It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.', 'When Tapestry unveiled the deal, CEO Joanne Crevoiserat told CNBC that the combined companies would be able to reach more customers across the globe.', 'Together, the two companies would have over $12 billion in annual revenue and a presence in more than 75 countries.', 'Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending.', 'Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers.', ""Led by Crevoiserat, Tapestry has raised the profile of Coach's brand, attracted younger shoppers, and tried to lean on fashion and loyalty, rather than deep discounts, to drive higher sales and profits."", ""The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter."", ""As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.""]",-0.0241006633612018,"It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.","""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.",0.033528881413596,"As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.","Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending.",2024-04-25
-What investors should know about the UAW's organizing drive of VW,https://www.cnbc.com/2024/04/22/uaw-vw-organizing-drive-what-investors-should-know.html,2024-04-22T20:21:56+0000,"In this articleDETROIT – The United Auto Workers notched a big win this weekend.Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking the Detroit union's first victory at a foreign-owned automaker plant in the South. The vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.""This is a really profound victory for the UAW and the labor movement in general,"" said Alex Hertel-Fernandez, a former Department of Labor official and an international and public affairs professor at Columbia University. ""It's also a really decisive victory.""Union organizing passed with 73% of the vote, or 2,628 workers, in support of the UAW, according to the National Labor Relations Board, which oversaw voting from Wednesday to Friday.The German automaker and union, barring any challenges to voting, are expected to move forward with bargaining over a contract for roughly 4,300 workers covered under the vote. The NLRB still needs to certify the results.Here's what investors should know about the vote and next steps for the UAW:The UAW saw the Friday vote as the union's best shot at organizing the VW plant following strikes and record contracts with General Motors, Ford Motor and Chrysler parent Stellantis in 2023.The union, led by President Shawn Fain, is using the deals with the Detroit automakers, which included record wage increases and benefits, as springboards for an unprecedented organizing drive of 13 non-union automakers in the U.S.Other than Volkswagen, the union is targeting: BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota and Volvo. The drive covers nearly 150,000 U.S. autoworkers, according to the UAW.""This is likely to be contagious,"" said Hertel-Fernandez. ""Where workers see successes in organizing or strikes, it tends to inspire further action in that industry and beyond it.""Next up for the union are 5,200 Mercedes-Benz workers at an SUV plant in Vance, Alabama. Workers at the facility earlier this month filed NLRB paperwork for a formal election that is scheduled for May 13 through May 17.""We're going to carry this fight on to Mercedes and everywhere else,"" Fain told VW workers Friday night following the historic vote. ""So, thank you all, thank you all for your fight, for your work. And let's get to it. Let's go to work. And let's win more for the working class all over this nation.""Top of the list of likely impacts from organizing efforts at VW is labor costs.UAW organizers used the record contracts with the Detroit automakers to gain support for the union in Chattanooga. UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.""But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive.GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW. Depending on contract details, labor pushes like VW and others could somewhat even that playing field.""Overall, given the substantial pay gap between UAW-unionized workers (Detroit-3) and non-unionized workers in the southern states, it can be assumed that the vote will lead to more upwards pressure on wages for VW over time,"" UBS said in an investor note.Before last year's contracts with the Detroit automakers, all-in labor costs for Ford, GM and Stellantis were between $63 and $67 an hour, according to industry experts. That compared with workers at non-domestic, or transplant, automakers such as VW at $55 an hour. Those costs included all benefits and health care costs.Still, there's no guarantee that VW – a much smaller automaker in the U.S. – will agree to the same terms as the traditional domestic automakers.Fain on Friday said ""the real fight begins now,"" referring to the expected negotiations between the union and VW.The VW vote was widely expected to be the easiest in the UAW's organizing plans, as the union had already established a presence there following votes that narrowly failed in 2019 and 2014.The margin of success in Chattanooga could bode well for UAW efforts at other automakers, according to Sharon Block, a professor at Harvard Law School and former DOL and NLRB official.""I think it's really hard to overestimate the importance of this moment and to overestimate just how strategic the UAW has been in this campaign, which I think suggests that this is not the last time that we're going to be talking about a UAW victory in an auto plant in the South,"" Block said.Though opposition during the VW vote was sparse, the most notable instance came a day before the election began, in the form of a letter from six Republican governors condemning the UAW's push to organize automotive factories in the South and warning of potential layoffs.""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. These jobs have become part of the fabric of the automotive manufacturing industry. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" read the statement, which was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.Fewer jobs in the U.S. automotive industry also means fewer eligible workers for union membership.Membership with the UAW at the Detroit automakers has significantly fallen in recent decades, as free trade agreements allowed automakers to produce vehicles for cheaper elsewhere.UAW membership, largely made up of autoworkers but also including workers in agriculture and aerospace, peaked at 1.5 million in 1979. As of last year, the union's membership was 370,239 workers – down 3.3% from 2022 and 75% from its peak. Workers from the Detroit automakers only made up roughly 150,000 of that 2023 total.– CNBC's Michael Bloom contributed to this report.",CNBC,22/04/2024,"['In this articleDETROIT – The United Auto Workers notched a big win this weekend.', ""Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking the Detroit union's first victory at a foreign-owned automaker plant in the South."", 'The vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.', '""This is a really profound victory for the UAW and the labor movement in general,"" said Alex Hertel-Fernandez, a former Department of Labor official and an international and public affairs professor at Columbia University. ""', ""It's also a really decisive victory."", '""Union organizing passed with 73% of the vote, or 2,628 workers, in support of the UAW, according to the National Labor Relations Board, which oversaw voting from Wednesday to Friday.', 'The German automaker and union, barring any challenges to voting, are expected to move forward with bargaining over a contract for roughly 4,300 workers covered under the vote.', 'The NLRB still needs to certify the results.', ""Here's what investors should know about the vote and next steps for the UAW:The UAW saw the Friday vote as the union's best shot at organizing the VW plant following strikes and record contracts with General Motors, Ford Motor and Chrysler parent Stellantis in 2023.The union, led by President Shawn Fain, is using the deals with the Detroit automakers, which included record wage increases and benefits, as springboards for an unprecedented organizing drive of 13 non-union automakers in the U.S.Other than Volkswagen, the union is targeting: BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota and Volvo."", 'The drive covers nearly 150,000 U.S. autoworkers, according to the UAW.""This is likely to be contagious,"" said Hertel-Fernandez. ""', 'Where workers see successes in organizing or strikes, it tends to inspire further action in that industry and beyond it.', '""Next up for the union are 5,200 Mercedes-Benz workers at an SUV plant in Vance, Alabama.', 'Workers at the facility earlier this month filed NLRB paperwork for a formal election that is scheduled for May 13 through May 17.""We\'re going to carry this fight on to Mercedes and everywhere else,"" Fain told VW workers Friday night following the historic vote. ""', 'So, thank you all, thank you all for your fight, for your work.', ""And let's get to it."", ""Let's go to work."", ""And let's win more for the working class all over this nation."", '""Top of the list of likely impacts from organizing efforts at VW is labor costs.', 'UAW organizers used the record contracts with the Detroit automakers to gain support for the union in Chattanooga.', 'UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.', '""But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive.', 'GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW.', 'Depending on contract details, labor pushes like VW and others could somewhat even that playing field.', '""Overall, given the substantial pay gap between UAW-unionized workers (Detroit-3) and non-unionized workers in the southern states, it can be assumed that the vote will lead to more upwards pressure on wages for VW over time,"" UBS said in an investor note.', ""Before last year's contracts with the Detroit automakers, all-in labor costs for Ford, GM and Stellantis were between $63 and $67 an hour, according to industry experts."", 'That compared with workers at non-domestic, or transplant, automakers such as VW at $55 an hour.', 'Those costs included all benefits and health care costs.', ""Still, there's no guarantee that VW – a much smaller automaker in the U.S. – will agree to the same terms as the traditional domestic automakers."", 'Fain on Friday said ""the real fight begins now,"" referring to the expected negotiations between the union and VW.The VW vote was widely expected to be the easiest in the UAW\'s organizing plans, as the union had already established a presence there following votes that narrowly failed in 2019 and 2014.The margin of success in Chattanooga could bode well for UAW efforts at other automakers, according to Sharon Block, a professor at Harvard Law School and former DOL and NLRB official.', '""I think it\'s really hard to overestimate the importance of this moment and to overestimate just how strategic the UAW has been in this campaign, which I think suggests that this is not the last time that we\'re going to be talking about a UAW victory in an auto plant in the South,"" Block said.', ""Though opposition during the VW vote was sparse, the most notable instance came a day before the election began, in the form of a letter from six Republican governors condemning the UAW's push to organize automotive factories in the South and warning of potential layoffs."", '""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states.', 'These jobs have become part of the fabric of the automotive manufacturing industry.', 'Unionization would certainly put our states\' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" read the statement, which was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.', 'Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.', 'Fewer jobs in the U.S. automotive industry also means fewer eligible workers for union membership.', 'Membership with the UAW at the Detroit automakers has significantly fallen in recent decades, as free trade agreements allowed automakers to produce vehicles for cheaper elsewhere.', 'UAW membership, largely made up of autoworkers but also including workers in agriculture and aerospace, peaked at 1.5 million in 1979.', ""As of last year, the union's membership was 370,239 workers – down 3.3% from 2022 and 75% from its peak."", 'Workers from the Detroit automakers only made up roughly 150,000 of that 2023 total.–', ""CNBC's Michael Bloom contributed to this report.""]",0.1384780391661381,In this articleDETROIT – The United Auto Workers notched a big win this weekend.,"Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.",0.208338725566864,In this articleDETROIT – The United Auto Workers notched a big win this weekend.,"UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.",2024-04-25
-"Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up",https://www.cnbc.com/2024/04/24/biogen-biib-earnings-q1-2024-.html,2024-04-24T14:26:32+0000,"In this articleBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected.Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July. The treatment's launch has been sluggish, but uptake appeared to accelerate towards the end of the first quarter.Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year. That blows past the $11 million analysts had expected, according to estimates compiled by FactSet. The number of patients on the therapy increased nearly 2.5 times since the end of 2023, according to Biogen. The company added that the number of new patients who started Leqembi jumped in March, making up more than 20% of the cumulative patients now on the treatment. Biogen did not provide a specific number of patients using Leqembi. But in February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi. Biogen and Eisai had previously aimed to treat 10,000 patients by March, but indicated in February that it would not meet the target.Biogen is seeing an ""awful lot of momentum"" in the Leqembi rollout and expects quarter-over-quarter growth in the number of patients, but that increase may not be linear, Viehbacher said during an earnings call Wednesday. He noted that Biogen plans to expand its U.S. marketing force by 30% to support Leqembi's launch.Bottlenecks related to Leqembi's requirements, such as twice-monthly infusions and regular brain scans, have slowed the uptake of the drug, he added.The company hopes the drug and other newly launched products will drive growth as it cuts costs and sees sales plummet for its multiple sclerosis therapies, some of which face generic competition.Shares of Biogen rose 6% on Wednesday following the results.Here's what Biogen reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The biotech company booked sales of $2.29 billion for the quarter, down 7% from the same period a year ago. It reported net income of $393.4 million, or $2.70 per share, for the first quarter, up from net income of $387.9 million, or $2.67 per share, for the same period a year ago. Adjusting for one-time items, the company reported earnings of $3.67 per share.Biogen reiterated its full-year 2024 adjusted earnings forecast of $15 to $16 per share. Analysts surveyed by LSEG had expected full-year earnings guidance of $15.49 per share. The company also reiterated its 2024 sales guidance of a low- to mid-single-digit percentage decline compared with last year.Apart from Leqembi, investors also have their eyes on other newly launched drugs. That includes Skyclarys, brought in by Biogen's acquisition of Reata Pharmaceuticals in July. That drug notched $78 million in first-quarter revenue.Analysts had expected sales of $68.8 million, according to FactSet estimates. The Food and Drug Administration cleared Skyclarys last year, making it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5. In February, European Union regulators approved Skyclarys for the treatment of Friedreich's ataxia in patients ages 16 and up. More than 1,100 patients in the U.S. and 300 in the EU are now taking Skyclarys, Biogen executives said during the earnings call on Wednesday.Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August. But the agency declined to clear the drug for major depressive disorder, which is a far larger market. Biogen said that pill, called Zurzuvae, generated first-quarter sales of $12 million. Analysts had expected just $5 million in sales of that drug, FactSet said.Meanwhile, Biogen's first-quarter revenue from multiple sclerosis products fell 4% to $1.08 billion as some of its therapies face competition from cheaper generics. The company's once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue of $254.3 million in the first quarter, down from $274.5 million from the same period a year ago. Still, that came in higher than analysts' estimate of $227.7 million, according to FactSet. Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $127.5 million in sales. That came in below analysts' estimates of $137.9 million, FactSet estimates said. Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago. Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $341.3 million in sales. That came under analysts' estimate of $415.1 million in revenue, according to FactSet. Biogen said the timing of Spinraza shipments and increased competition affected first-quarter revenue comparisons outside of the U.S.The company's biosimilar drugs booked $196.9 million in sales, up slightly from the $192.4 million reported during the year-earlier period. Analysts had expected sales of $192.5 million from those medicines.Correction: Skyclarys had $78 million in first-quarter revenue. An earlier version misstated the quarter.",CNBC,24/04/2024,"[""In this articleBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected."", ""Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July."", ""The treatment's launch has been sluggish, but uptake appeared to accelerate towards the end of the first quarter."", 'Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year.', 'That blows past the $11 million analysts had expected, according to estimates compiled by FactSet.', 'The number of patients on the therapy increased nearly 2.5 times since the end of 2023, according to Biogen.', 'The company added that the number of new patients who started Leqembi jumped in March, making up more than 20% of the cumulative patients now on the treatment.', 'Biogen did not provide a specific number of patients using Leqembi.', 'But in February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi.', 'Biogen and Eisai had previously aimed to treat 10,000 patients by March, but indicated in February that it would not meet the target.', 'Biogen is seeing an ""awful lot of momentum"" in the Leqembi rollout and expects quarter-over-quarter growth in the number of patients, but that increase may not be linear, Viehbacher said during an earnings call Wednesday.', ""He noted that Biogen plans to expand its U.S. marketing force by 30% to support Leqembi's launch."", ""Bottlenecks related to Leqembi's requirements, such as twice-monthly infusions and regular brain scans, have slowed the uptake of the drug, he added."", 'The company hopes the drug and other newly launched products will drive growth as it cuts costs and sees sales plummet for its multiple sclerosis therapies, some of which face generic competition.', 'Shares of Biogen rose 6% on Wednesday following the results.', ""Here's what Biogen reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The biotech company booked sales of $2.29 billion for the quarter, down 7% from the same period a year ago."", 'It reported net income of $393.4 million, or $2.70 per share, for the first quarter, up from net income of $387.9 million, or $2.67 per share, for the same period a year ago.', 'Adjusting for one-time items, the company reported earnings of $3.67 per share.', 'Biogen reiterated its full-year 2024 adjusted earnings forecast of $15 to $16 per share.', 'Analysts surveyed by LSEG had expected full-year earnings guidance of $15.49 per share.', 'The company also reiterated its 2024 sales guidance of a low- to mid-single-digit percentage decline compared with last year.', 'Apart from Leqembi, investors also have their eyes on other newly launched drugs.', ""That includes Skyclarys, brought in by Biogen's acquisition of Reata Pharmaceuticals in July."", 'That drug notched $78 million in first-quarter revenue.', 'Analysts had expected sales of $68.8 million, according to FactSet estimates.', ""The Food and Drug Administration cleared Skyclarys last year, making it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5."", ""In February, European Union regulators approved Skyclarys for the treatment of Friedreich's ataxia in patients ages 16 and up."", 'More than 1,100 patients in the U.S. and 300 in the EU are now taking Skyclarys, Biogen executives said during the earnings call on Wednesday.', 'Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August.', 'But the agency declined to clear the drug for major depressive disorder, which is a far larger market.', 'Biogen said that pill, called Zurzuvae, generated first-quarter sales of $12 million.', 'Analysts had expected just $5 million in sales of that drug, FactSet said.', ""Meanwhile, Biogen's first-quarter revenue from multiple sclerosis products fell 4% to $1.08 billion as some of its therapies face competition from cheaper generics."", ""The company's once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue of $254.3 million in the first quarter, down from $274.5 million from the same period a year ago."", ""Still, that came in higher than analysts' estimate of $227.7 million, according to FactSet."", 'Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $127.5 million in sales.', ""That came in below analysts' estimates of $137.9 million, FactSet estimates said."", ""Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago."", 'Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $341.3 million in sales.', ""That came under analysts' estimate of $415.1 million in revenue, according to FactSet."", ""Biogen said the timing of Spinraza shipments and increased competition affected first-quarter revenue comparisons outside of the U.S.The company's biosimilar drugs booked $196.9 million in sales, up slightly from the $192.4 million reported during the year-earlier period."", 'Analysts had expected sales of $192.5 million from those medicines.', 'Correction: Skyclarys had $78 million in first-quarter revenue.', 'An earlier version misstated the quarter.']",0.1486621680354227,Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July.,"But the agency declined to clear the drug for major depressive disorder, which is a far larger market.",0.3975433243645562,"Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year.","Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago.",2024-04-25
-Even in peaceful countries be ready for a siren blast,https://www.bbc.co.uk/news/business-68761255,2024-04-11T23:13:02.000Z,"I was halfway through my morning run when I heard it. The sound of the apocalypse. An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT. I glanced at the sky. But nobody else nearby seemed to be taking any notice. My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out. It was the same at the supermarket on the way home. The din of the siren was audible across East Belfast, and yet, life continued as normal.  The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour. It is a fire alarm and has to be so loud partly because of the large size of the facility in question. This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids. Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories. Just in case. ""That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""You need to get people's attention."" He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits. It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions.  These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free. He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades. In the UK, there are air raid-style sirens in a number of locations. Notably, at the Royal Navy base in Portsmouth. This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.  A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored. There are no plans to change the emergency alarm system."" Some siren locations are, perhaps, less obvious. Take The State Hospital, a psychiatric hospital in Carstairs, Scotland. Its siren system was sounded, for example, when two murderers escaped in the 1970s. Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message. Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems. Take Hampton Water Treatment Works in West London - even it has a siren.  In Bradford, there is a siren at a large chemical plant owned by Solenis. In information sent to locals, the company explains why an accident might be harmful. A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries."" Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"". More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products. It too has a siren system in place to warn people in the event of a chemical emergency . These are just some examples. There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren. One siren aficionado has even marked the locations of these systems on an online map.  The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour. But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard. H&W confirms that this was not the case. The incident raises the question: Would people react appropriately during a real emergency? People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management.  ""So [they] are familiar - 'Hey, I know this sound, it's not a scary sound, it's an action sound - I need to do something',"" she explains. Failing to activate a siren during an emergency could also be harmful. Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023. Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response.  ""We need a series of pieces of information or else it's difficult to prompt people to act,"" she says. The range of situations that might require a siren around the world are extremely varied. Sentry Siren, for instance, recently shipped five of its units to Iceland. They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months. And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems. Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat."" Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise. But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements. The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood. Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency. These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally. Most of the time, thankfully, there's no emergency. There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts. Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn't you use all the tools available to you?"" ",BBC,11/04/2024,"['I was halfway through my morning run when I heard it.', 'The sound of the apocalypse.', 'An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT.', 'I glanced at the sky.', 'But nobody else nearby seemed to be taking any notice.', ""My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out."", 'It was the same at the supermarket on the way home.', 'The din of the siren was audible across East Belfast, and yet, life continued as normal.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour.', 'It is a fire alarm and has to be so loud partly because of the large size of the facility in question.', 'This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids.', 'Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories.', 'Just in case. ""', 'That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""', 'You need to get people\'s attention.""', 'He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits.', ""It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions."", 'These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free.', 'He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades.', 'In the UK, there are air raid-style sirens in a number of locations.', 'Notably, at the Royal Navy base in Portsmouth.', 'This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.', 'A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored.', 'There are no plans to change the emergency alarm system.""', 'Some siren locations are, perhaps, less obvious.', 'Take The State Hospital, a psychiatric hospital in Carstairs, Scotland.', 'Its siren system was sounded, for example, when two murderers escaped in the 1970s.', 'Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message.', 'Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems.', 'Take Hampton Water Treatment Works in West London - even it has a siren.', 'In Bradford, there is a siren at a large chemical plant owned by Solenis.', 'In information sent to locals, the company explains why an accident might be harmful.', 'A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries.""', 'Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"".', 'More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products.', 'It too has a siren system in place to warn people in the event of a chemical emergency .', 'These are just some examples.', 'There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren.', 'One siren aficionado has even marked the locations of these systems on an online map.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour.', ""But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard."", 'H&W confirms that this was not the case.', 'The incident raises the question: Would people react appropriately during a real emergency?', 'People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management. ""', 'So [they] are familiar - \'Hey, I know this sound, it\'s not a scary sound, it\'s an action sound - I need to do something\',"" she explains.', 'Failing to activate a siren during an emergency could also be harmful.', 'Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023.', 'Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response. ""', 'We need a series of pieces of information or else it\'s difficult to prompt people to act,"" she says.', 'The range of situations that might require a siren around the world are extremely varied.', 'Sentry Siren, for instance, recently shipped five of its units to Iceland.', ""They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months."", ""And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems."", 'Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat.""', 'Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise.', 'But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements.', ""The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood."", 'Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency.', 'These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally.', ""Most of the time, thankfully, there's no emergency."", ""There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts."", 'Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn\'t you use all the tools available to you?""']",-0.1702984417179804,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""","There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts.",0.2383095145225525,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. """,Failing to activate a siren during an emergency could also be harmful.,2024-04-25
-Honda to build $11 billion electric vehicle hub in Canada,https://www.cnbc.com/2024/04/25/honda-to-build-11-billion-electric-vehicle-hub-in-canada.html,2024-04-25T15:57:06+0000,"In this articleDEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a ""comprehensive EV value chain,"" the Japanese automaker announced Thursday.The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel cell-powered vehicles.Honda said vehicle production will begin in 2028, with annual vehicle capacity of 240,000 units once it is fully operational. The investment in Alliston, Ontario, is expected to greatly assist in Honda's goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040.The timing of the investment may seem odd to industry onlookers and investors, as many automakers have announced pullbacks in their all-electric vehicle plans amid slower-than-expected adoption of EVs.Honda said the investment is ""for a future increase in EV demand in North America,"" with the battery plant capable of producing 36 gigawatt hours, or GWh, per year.The project is expected to create as least 1,000 new jobs, adding to the 4,200 employees the company currently has at its two existing manufacturing facilities in Ontario.Prime Minister of Canada Justin Trudeau said during a livestreamed press conference on Thursday that Honda's investment, 15 billion Canadian dollars, is the largest ever for the country's automotive industry. The company is expected to receive upward of CA$2.5 billion in assistance in tax credits and other incentives from the Canadian government, officials said.The investment is a major win for Canada and comes after Honda last year confirmed a $4.4 billion investment for a new U.S. battery plant in Ohio.""In North America, following the initiative to establish our EV production system capability in the U.S., we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario,"" Honda CEO Toshihiro Mibe said in a release. ""We will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.""Honda said it has ""begun the process of evaluating the scope of its investment and completing negotiations with its joint venture partners."" Its partner in the U.S. facility is LG Energy Solution.The company said it expects to finalize the plans over the next six months.",CNBC,25/04/2024,"['In this articleDEROIT — Honda Motor and yet-to-be-named joint venture partners plan to invest $11 billion in Ontario, Canada, to create a ""comprehensive EV value chain,"" the Japanese automaker announced Thursday.', 'The company said the new North American electric vehicle epicenter will include new assembly and battery plants as well as other facilities to support production of all-electric and fuel cell-powered vehicles.', 'Honda said vehicle production will begin in 2028, with annual vehicle capacity of 240,000 units once it is fully operational.', ""The investment in Alliston, Ontario, is expected to greatly assist in Honda's goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040.The timing of the investment may seem odd to industry onlookers and investors, as many automakers have announced pullbacks in their all-electric vehicle plans amid slower-than-expected adoption of EVs."", 'Honda said the investment is ""for a future increase in EV demand in North America,"" with the battery plant capable of producing 36 gigawatt hours, or GWh, per year.', 'The project is expected to create as least 1,000 new jobs, adding to the 4,200 employees the company currently has at its two existing manufacturing facilities in Ontario.', ""Prime Minister of Canada Justin Trudeau said during a livestreamed press conference on Thursday that Honda's investment, 15 billion Canadian dollars, is the largest ever for the country's automotive industry."", 'The company is expected to receive upward of CA$2.5 billion in assistance in tax credits and other incentives from the Canadian government, officials said.', 'The investment is a major win for Canada and comes after Honda last year confirmed a $4.4 billion investment for a new U.S. battery plant in Ohio.', '""In North America, following the initiative to establish our EV production system capability in the U.S., we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario,"" Honda CEO Toshihiro Mibe said in a release. ""', 'We will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.', '""Honda said it has ""begun the process of evaluating the scope of its investment and completing negotiations with its joint venture partners.""', 'Its partner in the U.S. facility is LG Energy Solution.', 'The company said it expects to finalize the plans over the next six months.']",0.3341687447145106,"""In North America, following the initiative to establish our EV production system capability in the U.S., we will now begin formal discussions toward the establishment of a comprehensive EV value chain here in Canada, with the support of the governments of Canada and Ontario,"" Honda CEO Toshihiro Mibe said in a release. ""","The investment in Alliston, Ontario, is expected to greatly assist in Honda's goal of exclusively offering all-electric and fuel cell-powered vehicles by 2040.The timing of the investment may seem odd to industry onlookers and investors, as many automakers have announced pullbacks in their all-electric vehicle plans amid slower-than-expected adoption of EVs.",0.9815447671072824,We will strengthen our EV supply system and capability with an eye toward a future increase in EV demand in North America.,,2024-04-25
-Boom times for US green energy as federal cash flows in,https://www.bbc.co.uk/news/business-68667140,2024-04-08T23:03:36.000Z,"In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil. The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive. The second plant would add to its facility in Soperton, Georgia - the world's first commercial scale ethanol-to-SAF plant. ""We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""  Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.  The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy. With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology. The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries. Consumers can also receive tax credits, for example for buying an EV or installing a heat pump. The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years). Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects. Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.  One company to benefit so far is EV battery recycling company Ascend Elements. It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky.  ""[The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""There is a clear sense that America has become more serious about transitioning to a cleaner economy."" While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments. According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits. The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long. But experts believe it is rising. Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data. Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023. The IRA has had two main positive effects thus far, says Mr Houser.  It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.  It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser. But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA. On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections.  Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within. The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.  Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm. The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL. For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this. It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.  Yet others argue the US can't afford not to take this path. And the point of the loans program is to take risks to help unlock new solutions that scale. ""It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm. More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more. Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill.  ""The US wasn't a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm. The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030. In the UK, chancellor Jeremy Hunt has made clear he isn't interested, nor can the UK afford to copy the IRA's approach in some ""distortive global subsidy race"" and will stick to other ways of helping. The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy. A global audience will be watching as the US's clean energy juggernaut unfolds. And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut. ",BBC,08/04/2024,"['In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil.', 'The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive.', 'The second plant would add to its facility in Soperton, Georgia - the world\'s first commercial scale ethanol-to-SAF plant. ""', 'We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""', 'Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.', 'The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy.', 'With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology.', 'The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries.', 'Consumers can also receive tax credits, for example for buying an EV or installing a heat pump.', 'The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years).', 'Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects.', 'Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.', 'One company to benefit so far is EV battery recycling company Ascend Elements.', 'It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[', 'The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""', 'There is a clear sense that America has become more serious about transitioning to a cleaner economy.""', 'While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider.', 'Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments.', 'According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits.', ""The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long."", 'But experts believe it is rising.', 'Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.', 'Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023.', 'The IRA has had two main positive effects thus far, says Mr Houser.', 'It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.', 'It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF.', 'While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser.', ""But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA."", ""On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections."", 'Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within.', 'The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.', 'Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""', 'A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm.', 'The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL.', ""For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this."", 'It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.', ""Yet others argue the US can't afford not to take this path."", 'And the point of the loans program is to take risks to help unlock new solutions that scale. ""', 'It would be failing if there weren\'t any so called \'failures\' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.', ""More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more."", 'Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""', 'The US wasn\'t a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm.', ""The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year."", ""It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030."", 'In the UK, chancellor Jeremy Hunt has made clear he isn\'t interested, nor can the UK afford to copy the IRA\'s approach in some ""distortive global subsidy race"" and will stick to other ways of helping.', 'The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy.', ""A global audience will be watching as the US's clean energy juggernaut unfolds."", ""And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.""]",0.3325934479260706,"And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.","It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.",0.3432436046146211,"Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.","But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA.",2024-04-25
-JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank,https://www.cnbc.com/2024/04/24/jpmorgan-chase-is-caught-in-us-russia-sanctions-war-after-overseas-court-orders-440-million-seized-from-bank.html,2024-04-24T22:24:46+0000,"In this articleA Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.The court ordered the seizure of funds in JPMorgan's Russian accounts and ""movable and immovable property,"" including the bank's stake in a Russian subsidiary, according to a court order published Wednesday.The order came after VTB filed a suit last week in a St. Petersburg arbitration court, seeking to be made whole for funds frozen in the U.S., and asking for relief because JPMorgan has said it plans to exit Russia.The next hearing in the Russian case is July 17.JPMorgan declined to comment. VTB did not immediately respond to CNBC's request for comment.The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests. JPMorgan is the biggest U.S. bank by assets and run by veteran CEO Jamie Dimon.  Two years after Russia invaded Ukraine, the Biden administration has mounted an unprecedented set of sanctions, oil price caps and trade restrictions designed to weaken Moscow's military machine.On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million.This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.The American bank, seeking to block VTB's effort, said the Russian company broke its contractual promise to seek relief in American courts, instead finding a friendlier venue in Russia.JPMorgan said Russian courts have enabled similar efforts by Russian lenders against American or European banks at least a half dozen other times.JPMorgan said it faced ""certain and irreparable harm"" from VTB's efforts.",CNBC,24/04/2024,"['In this articleA Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.', 'The court ordered the seizure of funds in JPMorgan\'s Russian accounts and ""movable and immovable property,"" including the bank\'s stake in a Russian subsidiary, according to a court order published Wednesday.', 'The order came after VTB filed a suit last week in a St. Petersburg arbitration court, seeking to be made whole for funds frozen in the U.S., and asking for relief because JPMorgan has said it plans to exit Russia.', 'The next hearing in the Russian case is July 17.JPMorgan declined to comment.', ""VTB did not immediately respond to CNBC's request for comment."", 'The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests.', 'JPMorgan is the biggest U.S. bank by assets and run by veteran CEO Jamie Dimon.', ""Two years after Russia invaded Ukraine, the Biden administration has mounted an unprecedented set of sanctions, oil price caps and trade restrictions designed to weaken Moscow's military machine."", 'On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.', ""In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million."", 'This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.', ""The American bank, seeking to block VTB's effort, said the Russian company broke its contractual promise to seek relief in American courts, instead finding a friendlier venue in Russia."", 'JPMorgan said Russian courts have enabled similar efforts by Russian lenders against American or European banks at least a half dozen other times.', 'JPMorgan said it faced ""certain and irreparable harm"" from VTB\'s efforts.']",0.0204917561348164,"On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.","In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million.",-0.0723157450556755,"On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.","This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.",2024-04-25
-"PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales",https://www.cnbc.com/2024/04/23/pepsico-pep-q1-2024-earnings.html,2024-04-23T15:48:06+0000,"In this articlePepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks.Shares of the company fell more than 2% in morning trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier.Excluding items, Pepsi earned $1.61 per share.Net sales rose 2.3% to $18.25 billion. The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter.But the company's volume is still under pressure. Pepsi, along with many of its rivals, has seen its volume fall in response to higher prices for its Gatorade, Fritos and other products in its portfolio.The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume. The metric strips out pricing and currency changes to reflect demand.A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem. The company issued the first recall for potential salmonella contamination in December, then widened it in January. The North American Quaker Food division reported that its volume cratered 22% in the quarter. The Quaker Foods recall dented Pepsi's organic volume by roughly 1%.Pepsi will officially close a Quaker Oats plant tied to the recalls in June, although production there has already ceased. Pepsi said the company has resumed limited production of certain products affected by the recalls.Pepsi's other North American divisions also reported weaker volume. Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.Frito-Lay North America's effective net pricing was up 3% in the quarter, while Pepsi's domestic beverages unit's prices rose 6%.In the U.S., lower-income consumers are still trying to stretch their paychecks, Pepsi CEO Ramon Laguarta told analysts on the company's conference call. Pepsi is trying to target the demographic and keep them as customers, particularly for its snacks like Cheetos.Outside of the U.S., demand was stronger. Its Asia-Pacific, Australia, New Zealand and China region reported 12% volume growth for snacks. Chinese consumers are cautious and saving more money, but they're still buying more Pepsi products, according to Laguarta. Even in Europe, which has also struggled with higher grocery prices, beverage volume increased 7% and snack volume rose 2%.Pepsi also reiterated its 2024 outlook. For the full year, the company is expecting organic revenue will rise at least 4% and core constant currency earnings per share will climb at least 8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. ""We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases.""",CNBC,23/04/2024,"[""In this articlePepsiCo on Tuesday reported quarterlyearningsand revenue that beat analysts' expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks."", 'Shares of the company fell more than 2% in morning trading.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier."", 'Excluding items, Pepsi earned $1.61 per share.', 'Net salesrose2.3% to $18.25 billion.', ""The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter."", ""But the company's volume is still under pressure."", 'Pepsi, along with many of its rivals, has seen its volume fall in response to higher prices for its Gatorade, Fritos and other products in its portfolio.', ""The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume."", 'The metric strips out pricing and currency changes to reflect demand.', ""A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem."", 'The company issued the first recall for potential salmonella contamination in December, then widened it in January.', 'The North American Quaker Food division reported that its volume cratered 22% in the quarter.', ""The Quaker Foods recall dented Pepsi's organic volume by roughly 1%.Pepsi will officially close a Quaker Oats plant tied to the recalls in June, although production there has already ceased."", 'Pepsi said the company has resumed limited production of certain products affected by the recalls.', ""Pepsi's other North American divisions also reported weaker volume."", 'Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.', ""Frito-Lay North America's effective net pricing was up 3% in the quarter, while Pepsi's domestic beverages unit's prices rose 6%.In the U.S., lower-income consumers are still trying to stretch their paychecks, Pepsi CEO Ramon Laguarta told analysts on the company's conference call."", 'Pepsi is trying to target the demographic and keep them as customers, particularly for its snacks like Cheetos.', 'Outside of the U.S., demand was stronger.', 'Its Asia-Pacific, Australia, New Zealand and China region reported 12% volume growth for snacks.', ""Chinese consumers are cautious and saving more money, but they're still buying more Pepsi products, according to Laguarta."", 'Even in Europe, which has also struggled with higher grocery prices, beverage volume increased 7% and snack volume rose 2%.Pepsi also reiterated its 2024 outlook.', 'For the full year, the company is expecting organic revenuewill riseat least 4% and core constant currency earnings per sharewill climb at least8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. ""', 'We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases.""']",0.0676508517705506,"For the full year, the company is expecting organic revenuewill riseat least 4% and core constant currency earnings per sharewill climb at least8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. """,A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem.,0.0850448608398437,"The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter.","Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.",2024-04-25
-"Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss",https://www.cnbc.com/2024/04/25/bristol-myers-squibb-bmy-earnings-q1-2024.html,2024-04-25T16:26:45+0000,"In this articleBristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as sales of its popular blood cancer treatment Revlimid and blockbuster blood thinner Eliquis came in higher than expected. But the pharmaceutical company swung to a quarterly loss due to one-time charges related to its recently closed deals. It also said it plans to cut $1.5 billion in costs by 2025, and reinvest the money in drug development.Bristol Myers will lay off 2,200 employees this year, discontinue some drug programs, eliminate open roles, consolidate its sites and reduce management layers, among other cost savings. The company said it will prioritize investment in its key drug brands, optimize operations across the company and focus its resources on research and development programs that could deliver the highest returns for the company and the greatest health benefits for patients.Two-thirds of savings are associated with drug research and development, Bristol Myers executives said during an earnings call Thursday. The company has discontinued about 12 drug programs so far and will evaluate others to drop throughout year, said Bristol Myers Chief Medical Officer Dr. Samit Hirawat.Bristol Myers CEO Chris Boerner added that the majority of savings are coming from existing in-house operations, not from newly acquired companies.""We are taking important actions to effectively manage the decade,"" Boerner said during the call. ""Our management team has focused on ensuring the discipline execution required to deliver both this year and set us up for the longer term.""For the first quarter, Bristol Myers said the charges that weighed it down primarily reflect its $14 billion acquisition of neuroscience drugmaker Karuna Therapeutics and the collaboration agreement with SystImmune, a subsidiary of a Chinese biotech startup, to co-develop and market its experimental cancer treatment. Those deals come as Bristol Myers faces pressure to launch new drugs and offset the potential loss of revenue from top-selling treatments. The company's popular blood cancer treatment Revlimid — and eventually, Eliquis and cancer immunotherapy Opdivo — faces competition from cheaper copycats. Shares of Bristol Myers fell more than 7% on Tuesday.Here is what Bristol Myers reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: Bristol Myers, one of the world's largest pharmaceutical companies, swung to a net loss of $11.9 billion, or $5.89 per share, during the first quarter. That compares to net income of $2.3 billion, or $1.07 per share, for the same period a year ago. Excluding certain items, its adjusted loss per share was $4.40 for the period. The loss reflects a one-time $6.30 per share charge related to the recently closed deals, Bristol Myers said in a release.Bristol Myers reported first-quarter revenue of $11.87 billion, up 5% from the year-earlier period. The company reiterated its full-year revenue forecast of a low single-digit increase. But Bristol Myers lowered its 2024 adjusted earnings guidance to 40 cents to 70 cents per share to reflect the effect of the recent deals. That compares with a previous forecast of $7.10 to $7.40 per share, which did not include charges related to its buyouts of Karuna Therapeutics and radiopharmaceutical company RayzeBio, along with divestitures and other items. Bristol Myers said revenue growth for the first quarter was primarily driven by higher sales of Eliquis and some of its newer drugs. Eliquis booked $3.72 billion in sales for the quarter, up 9% from the year-ago period. Analysts had expected Eliquis to draw $3.59 billion in revenue, according to estimates compiled by FactSet.Eliquis, which Bristol Myers shares with Pfizer, is among the first 10 drugs facing ongoing price negotiations with the federal Medicare program. The blood thinner is expected to lose market exclusivity by 2028.The effect of those negotiations on Eliquis is still unclear, Bristol Myers executives said during the call. The final negotiated price for the drug will be published later this year and go into effect in 2026, which is when the company expects a hit to revenue and profit.Meanwhile, Revlimid raked in $1.67 billion in sales, down 5% from the same period a year ago. Still, that surpassed analysts' revenue expectations of $1.22 billion for the drug, according to FactSet estimates.  Anemia drug Reblozyl and advanced melanoma treatment Opdualag also posted revenue growth during the first quarter. Reblozyl booked $354 million in sales, up 72% from the year-earlier period. Analysts had expected revenue of $330.8 million, according to FactSet.Opdualag generated $206 million in sales for the first quarter, which is up 76% from the same period a year ago. Analysts had expected revenue of $206.5 million, FactSet estimates said. The performance of other new drugs fell short of Wall Street's expectations. Abecma, a cell therapy for a rare blood cancer called multiple myeloma, drew $82 million in sales for the quarter. Analysts had expected $112.6 million in revenue, according to FactSet. The U.S. Food and Drug Administration earlier this month expanded its approval of that drug, allowing multiple myeloma patients to use it as an earlier line of treatment.An older drug, Opdivo, generated $2.07 billion in sales for the quarter, down 6% from the first quarter of 2023. Analysts had expected the drug to book $2.3 billion in revenue for the period, FactSet estimates said.",CNBC,25/04/2024,"['In this articleBristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as sales of its popular blood cancer treatment Revlimid and blockbuster blood thinner Eliquis came in higher than expected.', 'But the pharmaceutical company swung to a quarterly loss due to one-time charges related to its recently closed deals.', 'It also said it plans to cut $1.5 billion in costs by 2025, and reinvest the money in drug development.', 'Bristol Myers will lay off 2,200 employees this year, discontinue some drug programs, eliminate open roles, consolidate its sites and reduce management layers, among other cost savings.', 'The company said it will prioritize investment in its key drug brands, optimize operations across the company and focus its resources on research and development programs that could deliver the highest returns for the company and the greatest health benefits for patients.', 'Two-thirds of savings are associated with drug research and development, Bristol Myers executives said during an earnings call Thursday.', 'The company has discontinued about 12 drug programs so far and will evaluate others to drop throughout year, said Bristol Myers Chief Medical Officer Dr. Samit Hirawat.', 'Bristol Myers CEO Chris Boerner added that the majority of savings are coming from existing in-house operations, not from newly acquired companies.', '""We are taking important actions to effectively manage the decade,"" Boerner said during the call. ""', 'Our management team has focused on ensuring the discipline execution required to deliver both this year and set us up for the longer term.', '""For the first quarter, Bristol Myers said the charges that weighed it down primarily reflect its $14 billion acquisition of neuroscience drugmaker Karuna Therapeutics and the collaboration agreement with SystImmune, a subsidiary of a Chinese biotech startup, to co-develop and market its experimental cancer treatment.', 'Those deals come as Bristol Myers faces pressure to launch new drugs and offset the potential loss of revenue from top-selling treatments.', ""The company's popular blood cancer treatment Revlimid — and eventually, Eliquis and cancer immunotherapy Opdivo — faces competition from cheaper copycats."", 'Shares of Bristol Myers fell more than 7% on Tuesday.', ""Here is what Bristol Myers reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Bristol Myers, one of the world's largest pharmaceutical companies, swung to a net loss of $11.9 billion, or $5.89 per share, during the first quarter."", 'That compares to net income of $2.3 billion, or $1.07 per share, for the same period a year ago.', 'Excluding certain items, its adjusted loss per share was $4.40 for the period.', 'The loss reflects a one-time $6.30 per share charge related to the recently closed deals, Bristol Myers said in a release.', 'Bristol Myers reported first-quarter revenue of $11.87 billion, up 5% from the year-earlier period.', 'The company reiterated its full-year revenue forecast of a low single-digit increase.', 'But Bristol Myers lowered its 2024 adjusted earnings guidance to 40 cents to 70 cents per share to reflect the effect of the recent deals.', 'That compares with a previous forecast of $7.10 to $7.40 per share, which did not include charges related to its buyouts of Karuna Therapeutics and radiopharmaceutical company RayzeBio, along with divestitures and other items.', 'Bristol Myers said revenue growth for the first quarter was primarily driven by higher sales of Eliquis and some of its newer drugs.', 'Eliquis booked $3.72 billion in sales for the quarter, up 9% from the year-ago period.', 'Analysts had expected Eliquis to draw $3.59 billion in revenue, according to estimates compiled by FactSet.', 'Eliquis, which Bristol Myers shares with Pfizer, is among the first 10 drugs facing ongoing price negotiations with the federal Medicare program.', 'The blood thinner is expected to lose market exclusivity by 2028.The effect of those negotiations on Eliquis is still unclear, Bristol Myers executives said during the call.', 'The final negotiated price for the drug will be published later this year and go into effect in 2026, which is when the company expects a hit to revenue and profit.', 'Meanwhile, Revlimid raked in $1.67 billion in sales, down 5% from the same period a year ago.', ""Still, that surpassed analysts' revenue expectations of $1.22 billion for the drug, according to FactSet estimates."", 'Anemia drug Reblozyl and advanced melanoma treatment Opdualag also posted revenue growth during the first quarter.', 'Reblozyl booked $354 million in sales, up 72% from the year-earlier period.', 'Analysts had expected revenue of $330.8 million, according to FactSet.', 'Opdualag generated $206 million in sales for the first quarter, which is up 76% from the same period a year ago.', 'Analysts had expected revenue of $206.5 million, FactSet estimates said.', ""The performance of other new drugs fell short of Wall Street's expectations."", 'Abecma, a cell therapy for a rare blood cancer called multiple myeloma, drew $82 million in sales for the quarter.', 'Analysts had expected $112.6 million in revenue, according to FactSet.', 'The U.S. Food and Drug Administration earlier this month expanded its approval of that drug, allowing multiple myeloma patients to use it as an earlier line of treatment.', 'An older drug, Opdivo, generated $2.07 billion in sales for the quarter, down 6% from the first quarter of 2023.', 'Analysts had expected the drug to book $2.3 billion in revenue for the period, FactSet estimates said.']",0.0461499500993691,"The company said it will prioritize investment in its key drug brands, optimize operations across the company and focus its resources on research and development programs that could deliver the highest returns for the company and the greatest health benefits for patients.","The company's popular blood cancer treatment Revlimid — and eventually, Eliquis and cancer immunotherapy Opdivo — faces competition from cheaper copycats.",0.3070554855991812,"Reblozyl booked $354 million in sales, up 72% from the year-earlier period.","Meanwhile, Revlimid raked in $1.67 billion in sales, down 5% from the same period a year ago.",2024-04-25
-"Merck beats earnings expectations, raises outlook on strong Keytruda and vaccine sales",https://www.cnbc.com/2024/04/25/merck-mrk-earnings-q1-2024.html,2024-04-25T15:12:55+0000,"In this articleMerck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products.The pharmaceutical giant also raised and narrowed its full-year revenue and adjusted earnings forecasts. Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion. The company expects full-year adjusted earnings of $8.53 to $8.65 per share, up from its prior forecast of $8.44 to $8.59 per share. That outlook includes a one-time charge of roughly 26 cents per share related to Merck's acquisition of Harpoon Therapeutics in January. The company develops immune-based cancer drugs. The guidance also includes a negative impact of 30 cents per share from foreign exchange changes. Shares of Merck rose 4% on Thursday following the results.Here is what Merck reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The company posted a net income of $4.76 billion, or $1.87 per share, for the first quarter. That compares with a net income of $2.82 billion, or $1.11 per share, during the year-earlier period. Excluding acquisition and restructuring costs, Merck earned $2.07 per share for the first quarter. Both adjusted and nonadjusted profit for the period include the charge related to the Harpoon deal.Merck raked in $15.78 billion in revenue for the quarter, up 9% from the same period a year ago. Those results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028. The loss of exclusive rights to the drug will likely cause sales to fall, forcing the company to draw revenue from elsewhere.But Merck has a handful of new deals under its belt and key drug launches that will help it offset those losses. That includes Winrevair, a medication approved in the U.S. last month to treat a progressive and life-threatening lung condition. Some analysts expect that worldwide sales of Winrevair could reach $5 billion by 2030. Merck is seeing ""high interest"" in Winrevair from patient groups and a range of prescribers, and is making ""good progress"" in enabling access to the drug, Chief Financial Officer Caroline Litchfield said during an earnings call Thursday. Several payers have already established coverage policies for the drug, she noted.""We have confidence in a successful launch of Winrevair consistent with our prior expectations and look forward to providing updates on our progress,"" Litchfield said.Merck is also cutting costs under a new restructuring program it announced in February. Those efforts aim to improve the manufacturing network of both its pharmaceutical division and animal health business. The company recorded charges of $246 million related to restructuring in the first quarter, which are excluded from its adjusted results. Merck's pharmaceutical unit booked $14.01 billion in revenue during the first quarter, up 10% from the same period a year ago. That division develops a wide range of drugs for several disease areas, including oncology and infectious diseases. Merck's immunotherapy Keytruda, which is used to treat several types of cancer, largely drove the growth. Keytruda generated $6.95 billion in revenue during the quarter, up 20% from the year-earlier period. Analysts had been expecting $6.71 billion in Keytruda sales, according to estimates from FactSet. Litchfield said the growth reflects increased uptake in patients at the earliest stages of cancer, and continued demand to treat metastatic cancers, which refers to when the disease spreads to a different part of the body than where it started.Merck also reported a jump in sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.Gardasil brought in $2.25 billion in sales, up 14% from the first quarter of 2023. That is in line with the $2.24 billion that analysts expected, FactSet estimates said. Litchfield said the increase reflects strong demand, particularly in China.Another vaccine called Vaxneuvance, which prevents patients from getting sick with pneumococcal disease, also posted strong growth during the quarter. The shot recorded $219 million in sales, up 106% from the year-earlier period. Meanwhile, Merck's Type 2 diabetes treatment Januvia drew $670 million in sales, down 24% from the same period a year ago. The company said the decline was primarily due to lower prices of the drug, falling demand in the U.S. and generic competition in several international markets.Analysts had expected Januvia sales of $687.3 million, according to FactSet estimates.Januvia is one of 10 drugs targeted in ongoing Medicare drug price negotiations, a policy under the Inflation Reduction Act that aims to make costly medications more affordable for seniors.Sales of Merck's Covid antiviral pill Lagevrio also fell 11% to $350 million during the quarter. Still, that total blew past analysts' expectations of $106.4 million in sales, according to FactSet. Demand for Lagevrio and other Covid products from companies such as Pfizer and Moderna has plunged over the past year, as cases and public concern about the virus dwindled from their pandemic peaks.Merck's animal health division, which develops vaccines and medicines for dogs, cats and cattle, posted $1.51 billion in sales for the first quarter. That is up only 1% from the same period a year ago. In February, Merck said it would buy Elanco Animal Health's aquatic business for $1.3 billion in cash. The deal includes Elanco's entire portfolio of medicines, vaccines and supplements for aquatic species, along with two manufacturing plants and a research facility.",CNBC,25/04/2024,"['In this articleMerck on Thursday reported first-quarter revenue and adjusted earnings that topped expectations as it posted strong sales of its blockbuster cancer drug Keytruda and vaccine products.', 'The pharmaceutical giant also raised and narrowed its full-year revenue and adjusted earnings forecasts.', 'Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion.', 'The company expects full-year adjusted earnings of $8.53 to $8.65 per share, up from its prior forecast of $8.44 to $8.59 per share.', ""That outlook includes a one-time charge of roughly 26 cents per share related to Merck's acquisition of Harpoon Therapeutics in January."", 'The company develops immune-based cancer drugs.', 'The guidance also includes a negative impact of 30 cents per share from foreign exchange changes.', 'Shares of Merck rose 4% on Thursday following the results.', 'Here is what Merck reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The company posted a net income of $4.76 billion, or $1.87 per share, for the first quarter.', 'That compares with a net income of $2.82 billion, or $1.11 per share, during the year-earlier period.', 'Excluding acquisition and restructuring costs, Merck earned $2.07 per share for the first quarter.', 'Both adjusted and nonadjusted profit for the period include the charge related to the Harpoon deal.', 'Merck raked in $15.78 billion in revenue for the quarter, up 9% from the same period a year ago.', ""Those results come as Merck shows substantial progress in preparing for Keytruda's patent expiration in 2028."", 'The loss of exclusive rights to the drug will likely cause sales to fall, forcing the company to draw revenue from elsewhere.', 'But Merck has a handful of new deals under its belt and key drug launches that will help it offset those losses.', 'That includes Winrevair, a medication approved in the U.S. last month to treat a progressive and life-threatening lung condition.', 'Some analysts expect that worldwide sales of Winrevair could reach $5 billion by 2030.Merck is seeing ""high interest"" in Winrevair from patient groups and a range of prescribers, and is making ""good progress"" in enabling access to the drug, Chief Financial Officer Caroline Litchfield said during an earnings call Thursday.', 'Several payers have already established coverage policies for the drug, she noted.', '""We have confidence in a successful launch of Winrevair consistent with our prior expectations and look forward to providing updates on our progress,"" Litchfield said.', 'Merck is also cutting costs under a new restructuring program it announced in February.', 'Those efforts aim to improve the manufacturing network of both its pharmaceutical division and animal health business.', 'The company recorded charges of $246 million related to restructuring in the first quarter, which are excluded from its adjusted results.', ""Merck's pharmaceutical unit booked $14.01 billion in revenue during the first quarter, up 10% from the same period a year ago."", 'That division develops a wide range of drugs for several disease areas, including oncology and infectious diseases.', ""Merck's immunotherapy Keytruda, which is used to treat several types of cancer, largely drove the growth."", 'Keytruda generated $6.95 billion in revenue during the quarter, up 20% from the year-earlier period.', 'Analysts had been expecting $6.71 billion in Keytruda sales, according to estimates from FactSet.', 'Litchfield said the growth reflects increased uptake in patients at the earliest stages of cancer, and continued demand to treat metastatic cancers, which refers to when the disease spreads to a different part of the body than where it started.', 'Merck also reported a jump in sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.Gardasil brought in $2.25 billion in sales, up 14% from the first quarter of 2023.', 'That is in line with the $2.24 billion that analysts expected, FactSet estimates said.', 'Litchfield said the increase reflects strong demand, particularly in China.', 'Another vaccine called Vaxneuvance, which prevents patients from getting sick with pneumococcal disease, also posted strong growth during the quarter.', 'The shot recorded $219 million in sales, up 106% from the year-earlier period.', ""Meanwhile, Merck's Type 2 diabetes treatment Januvia drew $670 million in sales, down 24% from the same period a year ago."", 'The company said the decline was primarily due to lower prices of the drug, falling demand in the U.S. and generic competition in several international markets.', 'Analysts had expected Januvia sales of $687.3 million, according to FactSet estimates.', 'Januvia is one of 10 drugs targeted in ongoing Medicare drug price negotiations, a policy under the Inflation Reduction Act that aims to make costly medications more affordable for seniors.', ""Sales of Merck's Covid antiviral pill Lagevrio also fell 11% to $350 million during the quarter."", ""Still, that total blew past analysts' expectations of $106.4 million in sales, according to FactSet."", 'Demand for Lagevrio and other Covid products from companies such as Pfizer and Moderna has plunged over the past year, as cases and public concern about the virus dwindled from their pandemic peaks.', ""Merck's animal health division, which develops vaccines and medicines for dogs, cats and cattle, posted $1.51 billion in sales for the first quarter."", 'That is up only 1% from the same period a year ago.', ""In February, Merck said it would buy Elanco Animal Health's aquatic business for $1.3 billion in cash."", ""The deal includes Elanco's entire portfolio of medicines, vaccines and supplements for aquatic species, along with two manufacturing plants and a research facility.""]",0.0870368521989354,"""We have confidence in a successful launch of Winrevair consistent with our prior expectations and look forward to providing updates on our progress,"" Litchfield said.","Merck also reported a jump in sales of Gardasil, a vaccine that prevents cancer from HPV, the most common sexually transmitted infection in the U.S.Gardasil brought in $2.25 billion in sales, up 14% from the first quarter of 2023.",0.6245327122283705,"Merck now expects 2024 sales to come in between $63.1 billion and $64.3 billion, up from previous guidance of $62.7 to $64.2 billion.",Sales of Merck's Covid antiviral pill Lagevrio also fell 11% to $350 million during the quarter.,2024-04-25
-Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html,"
-  Updated
-        4:19 PM EST, Mon November 20, 2023
-    ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.
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-            Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.
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-            That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.
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-            Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.
-    
-            Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.
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-            Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.
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-            Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.
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-            “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.
-    
-            Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-04-25
-General Motors raises 2024 guidance after big first-quarter earnings beat,https://www.cnbc.com/2024/04/23/general-motors-gm-earnings-q1-2024.html,2024-04-23T20:07:30+0000,"In this articleDETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street's top- and bottom-line expectations for the first quarter.The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter. The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.GM shares jumped more than 4% Tuesday following the report. Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:GM said revenue during the first three months of this year was up 7.6% from roughly $40 billion a year earlier. Its net income during the first quarter rose about 26% to $2.95 billion.The automaker's net income attributable to stockholders, which excludes some dividend payouts, was up 24.4% to $2.98 billion, or $2.56 per share, from the first quarter of 2023 when the company reported net income attributable to stockholders of about $2.4 billion, or $1.69 a share. The automaker's adjusted earnings before interest and taxes were $3.87 billion, or $2.62 per share, during the first quarter. GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said.  The division increased adjusted earnings during the quarter to $3.84 billion, up 7.4% from a year earlier.Steady vehicle pricing and increased retail sales in North America also helped GM achieve a 10.6% adjusted profit margin in the region for the period – above its previously announced 8% to 10% range for the year.GM CFO Paul Jacobson said prices for the automaker's vehicles were roughly flat to slightly lower due to vehicle mix during the quarter, but not down as much as the 2% to 2.5% decline the company anticipated for the year.""Our consumer has been remarkably resilient in this period of higher interest rates,"" Jacobson told reporters during a briefing. ""We think in this environment that we can continue to perform.""GM's financing arm reported adjusted earnings of $737 million during the first quarter, down 4.4% from a year earlier.The company's North America results helped to offset losses of $106 million in China and $10 million in other international markets during the first three months of the year.When asked Tuesday about potentially exiting the Chinese market, GM CEO Mary Barra said during the company's earnings call the automaker ""remains committed"" to the region.The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand.Jacobson, however, noted GM's loss in China was ""slightly better"" than the company had previously forecast.GM specifically noted that sales of its highly profitable pickups remain strong, while production of its all-electric vehicles continues to ramp up following bottlenecks in production, particularly with battery modules.""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.Jacobson said the company still plans to produce between 200,000 and 300,000 EVs during 2024.While North America continues to be strong for the automaker, vehicle inventory levels in the U.S. are rising. The company ended the first quarter with a 63 days' supply of vehicles – above the automaker's previous guidance of 50 days to 60 days.Jacobson said the company is watching those levels but is not too concerned about the number of vehicles ahead of a spring and summer selling season that includes some factory shutdowns for retooling.""We actually feel pretty good about where we are,"" he said. ""It's something that obviously we're watching. But right now, no signs of any softness that we can see.""Regarding GM's embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.Barra said the automaker is evaluating how to the fund Cruise, of which GM owns more than 80%, moving forward, including potentially accepting additional outside investments.Correction: This story has to been updated to correct that General Motors plans to produce between 200,000 and 300,000 EVs during 2024.",CNBC,23/04/2024,"[""In this articleDETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street's top- and bottom-line expectations for the first quarter."", 'The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter.', 'The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.', 'GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.', 'GM shares jumped more than 4% Tuesday following the report.', ""Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:GM said revenue during the first three months of this year was up 7.6% from roughly $40 billion a year earlier."", 'Its net income during the first quarter rose about 26% to $2.95 billion.', ""The automaker's net income attributable to stockholders, which excludes some dividend payouts, was up 24.4% to $2.98 billion, or $2.56 per share, from the first quarter of 2023 when the company reported net income attributable to stockholders of about $2.4 billion, or $1.69 a share."", ""The automaker's adjusted earnings before interest and taxes were $3.87 billion, or $2.62 per share, during the first quarter."", ""GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said."", 'The division increased adjusted earnings during the quarter to $3.84 billion, up 7.4% from a year earlier.', 'Steady vehicle pricing and increased retail sales in North America also helped GM achieve a 10.6% adjusted profit margin in the region for the period – above its previously announced 8% to 10% range for the year.', ""GM CFO Paul Jacobson said prices for the automaker's vehicles were roughly flat to slightly lower due to vehicle mix during the quarter, but not down as much as the 2% to 2.5% decline the company anticipated for the year."", '""Our consumer has been remarkably resilient in this period of higher interest rates,"" Jacobson told reporters during a briefing. ""', 'We think in this environment that we can continue to perform.', '""GM\'s financing arm reported adjusted earnings of $737 million during the first quarter, down 4.4% from a year earlier.', ""The company's North America results helped to offset losses of $106 million in China and $10 million in other international markets during the first three months of the year."", 'When asked Tuesday about potentially exiting the Chinese market, GM CEO Mary Barra said during the company\'s earnings call the automaker ""remains committed"" to the region.', ""The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand."", 'Jacobson, however, noted GM\'s loss in China was ""slightly better"" than the company had previously forecast.', 'GM specifically noted that sales of its highly profitable pickups remain strong, while production of its all-electric vehicles continues to ramp up following bottlenecks in production, particularly with battery modules.', '""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.', 'Jacobson said the company still plans to produce between 200,000 and 300,000 EVs during 2024.While North America continues to be strong for the automaker, vehicle inventory levels in the U.S. are rising.', ""The company ended the first quarter with a 63 days' supply of vehicles – above the automaker's previous guidance of 50 days to 60 days."", 'Jacobson said the company is watching those levels but is not too concerned about the number of vehicles ahead of a spring and summer selling season that includes some factory shutdowns for retooling.', '""We actually feel pretty good about where we are,"" he said. ""', ""It's something that obviously we're watching."", 'But right now, no signs of any softness that we can see.', '""Regarding GM\'s embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.', 'Barra said the automaker is evaluating how to the fund Cruise, of which GM owns more than 80%, moving forward, including potentially accepting additional outside investments.', 'Correction: This story has to been updated to correct that General Motors plans to produce between 200,000 and 300,000 EVs during 2024.']",0.204808735023361,"""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.","""Regarding GM's embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.",0.8176416863094677,Its net income during the first quarter rose about 26% to $2.95 billion.,"The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand.",2024-04-25
-Starbucks resumes bargaining with union after two sides thaw relationship,https://www.cnbc.com/2024/04/24/starbucks-resumes-bargaining-with-workers-united-union.html,2024-04-24T16:49:44+0000,"In this articleStarbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.The two sides' return to the bargaining table follows their February announcement that they found a ""constructive path forward"" during mediation discussions related to litigation over the union's use of Starbucks' branding. It marked a major pivot for Starbucks, which had spent the previous two years battling Workers United and the broader movement to unionize its cafes.Roughly 500 company-owned Starbucks in the U.S. have voted to unionize under Workers United since the first elections in December 2021, according to a tally from the National Labor Relations Board, as of Monday. But none of those locations, which make up a small fraction of total U.S. footprint, have come close to a collective bargaining agreement.Starbucks and the union, which is affiliated with the Service Employees International Union, have previously met to bargain, but those talks quickly ended in stalemate. Both sides have accused the other of sabotaging the talks.Starbucks had previously insisted on face-to-face negotiations, with no representatives appearing via Zoom. The union has accused Starbucks of using that excuse as a stalling tactic. This time around, about 150 union representatives will appear in person to bargain, while several hundred more will weigh in remotely outside of the face-to-face meetings.Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents. Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith. After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations. The NLRB has 19 pending petitions to decertify. Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.The company said it has also been negotiating with other unions that represent its cafes, such as the International Brotherhood of Teamsters, which is bargaining for a store outside of Pittsburgh.The resumption of contract negotiations comes a day after another significant moment for both Starbucks and unions. On Tuesday, the company appeared before the Supreme Court to appeal a lower court's approval of an injunction sought by the NLRB to reinstate seven fired workers at a Memphis cafe.Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does. Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor. The court is expected to release its decision this summer.Starbucks could share more about the union negotiations during its quarterly earnings call. The coffee giant is expected to report its results on Tuesday.",CNBC,24/04/2024,"['In this articleStarbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.', 'The two sides\' return to the bargaining table follows their February announcement that they founda ""constructive path forward"" during mediation discussions related to litigation over the union\'s use of Starbucks\' branding.', 'It marked a major pivot for Starbucks, which had spent the previous two years battling Workers United and the broader movement to unionize its cafes.', 'Roughly 500 company-owned Starbucks in the U.S. have voted to unionize under Workers United since the first elections in December 2021, according to a tally from the National Labor Relations Board, as of Monday.', 'But none of those locations, which make up a small fraction of total U.S. footprint, have come close to a collective bargaining agreement.', 'Starbucks and the union, which is affiliated with the Service Employees International Union, have previously met to bargain, but those talks quickly ended in stalemate.', 'Both sides have accused the other of sabotaging the talks.', 'Starbucks had previously insisted on face-to-face negotiations, with no representatives appearing via Zoom.', 'The union has accused Starbucks of using that excuse as a stalling tactic.', 'This time around, about 150 union representatives will appear in person to bargain, while several hundred more will weigh in remotely outside of the face-to-face meetings.', 'Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents.', 'Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.', 'Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.', 'After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations.', 'The NLRB has 19 pending petitions to decertify.', 'Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.', 'The company said it has also been negotiating with other unions that represent its cafes, such as the International Brotherhood of Teamsters, which is bargaining for a store outside of Pittsburgh.', 'The resumption of contract negotiations comes a day after another significant moment for both Starbucks and unions.', ""On Tuesday, the company appeared before the Supreme Court to appeal a lower court's approval of an injunction sought by the NLRB to reinstate seven fired workers at a Memphis cafe."", 'Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does.', ""Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor."", 'The court is expected to release its decision this summer.', 'Starbucks could share more about the union negotiations during its quarterly earnings call.', 'The coffee giant is expected to report its results on Tuesday.']",0.0722775234451613,"Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.","Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.",-0.1644300669431686,"Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.",Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor.,2024-04-25
-"Professional pickleball signs first international deal, looks to grow the sport in India",https://www.cnbc.com/2024/04/25/us-pro-pickleball-group-signs-first-international-deal-in-india.html,2024-04-25T19:41:55+0000,"America's fastest-growing sport, pickleball, is going after a new frontier: India.The United Pickleball Association and Global Sports announced a deal on Thursday to bring the PPA Tour and Major League Pickleball to the world's most populous country.It's the first international deal and major announcement for the United Pickleball Association, which was created after a merger between Major League Pickleball and the Professional Pickleball Association last February.The PPA Tour and Major League Pickleball retained their own distinct brands after the merger. The PPA Tour features an individual bracket-style tour, while MLP is a team-based format.Terms of the deal were not available.""The PPA Tour India and MLP India will create a pathway for players to compete on pickleball's biggest stage and reach the top of the sport. With the partnership of Global Sports, we will elevate the game and introduce it to millions of new fans,"" said Connor Pardoe, founder and CEO of the PPA Tour.As part of the partnership, the PPA Tour will make an official tour stop in India next February. The Indian Open event will be the debut PPA Tour event in Asia and is expected to bring players from all over the world to participate.The deal will also launch PPA Tour India, offering ranking points to players at events around the country.Major League Pickleball, the team-based league, will hold a competition in India featuring a mix of players from India, as well as MLP and PPA Tour professionals.United Pickleball Association said the group also plans to hold an open process to sell MLP franchises, with the goal of launching a full 12-team season in 2025-26.Franchises are expected to cost in the seven-figure range, according to sources.In September, Major League Pickleball announced its expansion into Australia.The APP Tour, which represents both amateurs and seniors, has also been active in bringing the sport overseas to India, the United Kingdom, Spain and Sweden.Global Sports, which was at the forefront of bringing pickleball to India, operates courts and organizes tournaments in India.""Pickleball in India has grown by leaps in the last couple of years, and this will give existing players a platform to compete at the highest level,"" said Shashank Khaitan, partner at Global Sports.",CNBC,25/04/2024,"[""America's fastest-growing sport, pickleball, is going after a new frontier: India."", ""The United Pickleball Association and Global Sports announced a deal on Thursday to bring the PPA Tour and Major League Pickleball to the world's most populous country."", ""It's the first international deal and major announcement for the United Pickleball Association, which was created after a merger between Major League Pickleball and the Professional Pickleball Association last February."", 'The PPA Tour and Major League Pickleball retained their own distinct brands after the merger.', 'The PPA Tour features an individual bracket-style tour, while MLP is a team-based format.', 'Terms of the deal were not available.', '""The PPA Tour India and MLP India will create a pathway for players to compete on pickleball\'s biggest stage and reach the top of the sport.', 'With the partnership of Global Sports, we will elevate the game and introduce it to millions of new fans,"" said Connor Pardoe, founder and CEO of the PPA Tour.', 'As part of the partnership, the PPA Tour will make an official tour stop in India next February.', 'The Indian Open event will be the debut PPA Tour event in Asia and is expected to bring players from all over the world to participate.', 'The deal will also launch PPA Tour India, offering ranking points to players at events around the country.', 'Major League Pickleball, the team-based league, will hold a competition in India featuring a mix of players from India, as well as MLP and PPA Tour professionals.', 'United Pickleball Association said the group also plans to hold an open process to sell MLP franchises, with the goal of launching a full 12-team season in 2025-26.Franchises are expected to cost in the seven-figure range, according to sources.', 'In September, Major League Pickleball announced its expansion into Australia.', 'The APP Tour, which represents both amateurs and seniors, has also been active in bringing the sport overseas to India, the United Kingdom, Spain and Sweden.', 'Global Sports, which was at the forefront of bringing pickleball to India, operates courts and organizes tournaments in India.', '""Pickleball in India has grown by leaps in the last couple of years, and this will give existing players a platform to compete at the highest level,"" said Shashank Khaitan, partner at Global Sports.']",0.1651015723437605,"The APP Tour, which represents both amateurs and seniors, has also been active in bringing the sport overseas to India, the United Kingdom, Spain and Sweden.","As part of the partnership, the PPA Tour will make an official tour stop in India next February.",0.9883124828338624,"""Pickleball in India has grown by leaps in the last couple of years, and this will give existing players a platform to compete at the highest level,"" said Shashank Khaitan, partner at Global Sports.",,2024-04-25
-Open seating no more? Southwest CEO says airline is weighing cabin changes,https://www.cnbc.com/2024/04/25/southwest-weighing-cabin-changes-to-drive-revenue.html,2024-04-25T19:59:11+0000,"In this articleSouthwest Airlines is considering changes to its single-class, open-seating cabins to drive up revenue, CEO Bob Jordan told CNBC on Thursday, a shift that would be among the largest in the airline's history.""We're looking into new initiatives, things like the way we seat and board our aircraft,"" Jordan said in an interview after the carrier's disappointing first-quarter report.Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding for a fee so customers can snag their preferred seats. The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum.Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.Analysts have repeatedly asked Southwest about opportunities for premium seating or additional fees. (The airline doesn't charge travelers for their first two checked bags.)Most U.S. airlines charge travelers to choose many of its seats in advance, even those that don't come with extra legroom. Eight U.S. carriers — Alaska, Allegiant, American, Delta, Frontier, JetBlue, Spirit and United — together brought in $4.2 billion from seating fees in their domestic networks in 2022, according to Jay Sorensen, an airline ancillary revenue expert at IdeaWorksCompany.Jordan said no decisions have been made on what kind of changes Southwest will ultimately make, but he said studies have yielded ""interesting"" results.""Customer preferences do change over time,"" Jordan said.While details were scarce during Southwest's earnings call, when asked whether Southwest would consider a separated cabin on its planes, Ryan Green, the carrier's chief commercial officer said: ""Curtains and things like that are a bit far afield from what Southwest Airlines is.""Green added that the carrier is not considering charging for checked bags because ""people choose Southwest Airlines because we don't have bag fees.""— CNBC's Phil LeBeau contributed to this report.",CNBC,25/04/2024,"[""In this articleSouthwest Airlines is considering changes to its single-class, open-seating cabins to drive up revenue, CEO Bob Jordan told CNBC on Thursday, a shift that would be among the largest in the airline's history."", '""We\'re looking into new initiatives, things like the way we seat and board our aircraft,"" Jordan said in an interview after the carrier\'s disappointing first-quarter report.', ""Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding for a fee so customers can snag their preferred seats."", 'The airline has focused on keeping its product simple and user-friendly for years, aiming to keep its own costs and complexity to a minimum.', 'Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.', 'Analysts have repeatedly asked Southwest about opportunities for premium seating or additional fees. (', ""The airline doesn't charge travelers for their first two checked bags.)Most U.S. airlines charge travelers to choose many of its seats in advance, even those that don't come with extra legroom."", 'Eight U.S. carriers — Alaska, Allegiant, American, Delta, Frontier, JetBlue, Spirit and United — together brought in $4.2 billion from seating fees in their domestic networks in 2022, according to Jay Sorensen, an airline ancillary revenue expert at IdeaWorksCompany.', 'Jordan said no decisions have been made on what kind of changes Southwest will ultimately make, but he said studies have yielded ""interesting"" results.', '""Customer preferences do change over time,"" Jordan said.', 'While details were scarce during Southwest\'s earnings call, when asked whether Southwest would consider a separated cabin on its planes, Ryan Green, the carrier\'s chief commercial officer said: ""Curtains and things like that are a bit far afield from what Southwest Airlines is.', '""Green added that the carrier is not considering charging for checked bags because ""people choose Southwest Airlines because we don\'t have bag fees.""—', ""CNBC's Phil LeBeau contributed to this report.""]",0.2277260589164618,"Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.","Southwest's all-Boeing 737 fleet has a single economy class cabin and no seating assignments, though it does offer earlier boarding for a fee so customers can snag their preferred seats.",0.9218981464703878,"Meanwhile, rivals including Delta and United have touted high revenue growth for premium seating such as business class and strong upsell rates.",,2024-04-25
-"Southwest cuts growth plans, warning effect of Boeing airplane delays will last into 2025",https://www.cnbc.com/2024/04/25/southwest-airlines-luv-earnings-q1-2024.html,2024-04-25T18:29:52+0000,"In this articleSouthwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into 2025.The airline expects to grow capacity 4% this year, down from a plan to expand 6%. For the second quarter, it forecast growth of 8% to 9% and said revenue would be down as much as 3.5%.Shares of Southwest were down more than 9% on Thursday afternoon, trading at a nearly five-month low.The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast of 46 of them. The carrier will now delay retiring some of its older Boeing planes and is cutting costs, including by offering staff voluntary time off. Southwest said it expects to end the year with 2,000 fewer employees than it had at the end of 2023.It will shut down operations at some airports, including in Syracuse, New York; Bellingham International Airport in Washington; Cozumel International Airport; and Houston's George Bush Intercontinental. The carrier is also scaling back service in Atlanta and at Chicago O'Hare International Airport.""Achieving our financial goals is an immediate imperative,"" CEO Bob Jordan said in an earnings release. ""The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. We are reacting and replanning quickly to mitigate the operational and financial impacts while maintaining dependable and reliable flight schedules for our Customers.""The Dallas-based carrier operates an all-Boeing 737 fleet and is acutely affected by Boeing's aircraft delays stemming from its safety and quality crises.The carrier had previously warned that slower Boeing deliveries were hampering its growth.Southwest is not only rethinking its network but also its business model. Jordan told CNBC that the airline might ditch its single-class cabin and open seating. While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.Here is how Southwest performed in the first quarter compared with Wall Street expectations, according to consensus estimates from LSEG:Southwest lost $231 million, or 39 cents a share, in the first three months of the year, compared with a loss of $159 million, or 27 cents a share, a year earlier when it was dealing with the aftermath of its holiday meltdown.Adjusting for one-time items, including costs related to labor contracts and fuel, Southwest lost $218 million, or 36 cents a share.Revenue rose almost 11% to $6.33 billion, slightly below analysts' estimates as compiled by LSEG.Correction: Southwest Airlines revenue of $6.33 billion came in slightly below analysts' estimates as compiled by LSEG.",CNBC,25/04/2024,"[""In this articleSouthwest Airlines on Thursday posted a wider loss for the first quarter than the same period last year and warned that Boeing's airplane delays will hamper its growth into 2025.The airline expects to grow capacity 4% this year, down from a plan to expand 6%."", 'For the second quarter, it forecast growth of 8% to 9% and said revenue would be down as much as 3.5%.Shares of Southwest were down more than 9% on Thursday afternoon, trading at a nearly five-month low.', 'The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast of 46 of them.', 'The carrier will now delay retiring some of its older Boeing planes and is cutting costs, including by offering staff voluntary time off.', ""Southwest said it expects to end the year with 2,000 fewer employees than it had at the end of 2023.It will shut down operations at some airports, including in Syracuse, New York; Bellingham International Airport in Washington; Cozumel International Airport; andHouston's George Bush Intercontinental."", ""The carrier is also scaling back service in Atlanta and at Chicago O'Hare International Airport."", '""Achieving our financial goals is an immediate imperative,"" CEO Bob Jordan said in an earnings release. ""', 'The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024and 2025.', 'We are reacting and replanning quickly to mitigate the operational and financial impacts while maintaining dependable and reliable flight schedules for our Customers.', '""The Dallas-based carrier operates an all-Boeing 737 fleet and is acutely affected by Boeing\'s aircraft delays stemming from its safety and quality crises.', 'The carrier had previously warned that slower Boeing deliveries were hampering its growth.', 'Southwest is not only rethinking its network but also its business model.', 'Jordan told CNBC that the airline might ditch its single-class cabin and open seating.', 'While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.', 'Here is how Southwest performed in the first quarter compared with Wall Street expectations, according to consensus estimates from LSEG:Southwest lost $231 million, or 39 cents a share, in the first three months of the year, compared with a loss of $159 million, or 27 cents a share, a year earlier when it was dealing with the aftermath of its holiday meltdown.', 'Adjusting for one-time items, including costs related to labor contracts and fuel, Southwest lost $218 million, or 36 cents a share.', ""Revenue rose almost 11% to $6.33 billion, slightly below analysts' estimates as compiled by LSEG.Correction: Southwest Airlines revenue of $6.33 billion came in slightly below analysts' estimates as compiled by LSEG.""]",0.1004313180652778,"While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.","The carrier will now delay retiring some of its older Boeing planes and is cutting costs, including by offering staff voluntary time off.",-0.3292797088623047,"While he said no decisions have been made, it would be a massive shift, just as big rivals like United and Delta post strong revenue growth for premium seats.","The airline said in a quarterly filing that it now expects to receive only 20 Boeing 737 Max 8 planes, down from its previous forecast of 46 of them.",2024-04-25
-"American Airlines swings to a loss, but tops estimates for Q2 forecast",https://www.cnbc.com/2024/04/25/american-airlines-aal-1q-2024-earnings.html,2024-04-25T14:31:32+0000,"In this articleAmerican Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates.American expects to earn between $1.15 and $1.45 per share in the second quarter, on an adjusted basis, largely above the $1.18 that analysts compiled by LSEG estimated on average. American reiterated its forecast to earn between $2.25 and $3.25 per share for the full year.""While we aren't satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,"" CEO Robert Isom said in an earnings release.American said it expects second-quarter capacity to be up 7% to 9%, and unit revenues to fall 1% to 3% from last year.Similar to Southwest, United and Alaska, American is affected by Boeing's latest quality control and safety crises. American will receive seven fewer aircraft from Boeing than it previously projected, Isom said, adding that he did not expect a material impact from the delays.""My message is Boeing hasn't changed since the last time we talked,"" Isom told CNBC in an interview. ""Get your act together. Deliver.""Here is how American performed in the first quarter compared with Wall Street estimates compiled by LSEG:American posted a loss of $312 million, or 48 cents per share, in the first quarter, compared with a profit of $10 million, or 2 cents per share, during the same period a year earlier. Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.Operating expenses rose nearly 7%, including an 18% rise in salaries and related costs.Revenue rose 3.1% to $12.57 billion.— CNBC's Phil LeBeau contributed to this report.",CNBC,25/04/2024,"[""In this articleAmerican Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates."", 'American expects to earn between $1.15 and $1.45 per share in the second quarter, on an adjusted basis, largely above the $1.18 that analysts compiled by LSEG estimated on average.', 'American reiterated its forecast to earn between $2.25 and $3.25 per share for the full year.', '""While we aren\'t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,"" CEO Robert Isom said in an earnings release.', 'American said it expects second-quarter capacity to be up 7% to 9%, and unit revenues to fall 1% to 3% from last year.', ""Similar to Southwest, United and Alaska, American is affected by Boeing's latest quality control and safety crises."", 'American will receive seven fewer aircraft from Boeing than it previously projected, Isom said, adding that he did not expect a material impact from the delays.', '""My message is Boeing hasn\'t changed since the last time we talked,"" Isom told CNBC in an interview. ""', 'Get your act together.', 'Deliver.', '""Here is how American performedin the first quartercompared with Wall Street estimates compiled by LSEG:American posted a loss of $312 million, or 48 cents per share, in the first quarter, compared with a profit of $10 million, or 2 cents per share, during the same period a year earlier.', 'Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.', 'Operating expenses rose nearly 7%, including an 18% rise in salaries and related costs.', 'Revenue rose 3.1% to $12.57 billion.—', ""CNBC's Phil LeBeau contributed to this report.""]",0.1568187498239613,"""While we aren't satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,"" CEO Robert Isom said in an earnings release.","In this articleAmerican Airlines swung to a loss in the first quarter, but its forecast for the current period surpassed analysts' estimates.",0.3057788718830455,Revenue rose 3.1% to $12.57 billion.—,"Adjusting for one-time items, including costs associated with new labor contracts, American lost $226 million, or 34 cents per share.",2024-04-25
-Post Office: Husband of ex-boss Paula Vennells advised on Horizon 'bug',https://www.bbc.co.uk/news/business-68883059,2024-04-23T14:01:24.000Z,"The Post Office changed how it described problems with its Horizon IT system based on a suggestion by the husband of former boss, Paula Vennells.  The inquiry into the scandal has revealed that following advice from John Vennells, the Post Office stopped referring to ""bugs"", and instead called them ""anomalies and exceptions"". Senior executives felt that this language was ""less emotive"". But a lawyer for the inquiry branded the move as ""absolutely Orwellian"".  The long-running inquiry is looking into how hundreds of sub-postmasters were prosecuted for offences including theft and false accounting on the strength of the Post Office's faulty Horizon software system. The prosecutions between between 1999 and 2015 resulted in what is widely regarded as one of the worst miscarriages of justice in British history. On Tuesday, the Post Office's former general counsel Susan Crichton gave evidence. Julian Blake, one of the lawyers for the inquiry, revealed an email from Ms Vennells from 2013 in which she asked her ""engineer/computer literate"" husband: ""What is a non-emotive word for computer bugs, glitches, defects that happen as a matter of course?"" Mr Vennells, who did not work for the Post Office, suggested ""exception or anomaly"". The Post Office then started to refer to known defects in the system as ""exceptions"". ""Are we to understand here that words that were suggested by Paula Vennells' husband have now made their way into the terminology that's being used by the business?"" asked Mr Blake. ""That's certainly what it looks like,"" Ms Crichton said. ""It's absolutely Orwellian, isn't it, the use of the word 'exception' now, instead of 'bug'?"" he said. ""Changing the language within the company."" Mr Blake was referring to the novel 1984 by George Orwell in which a repressive government uses words that are the opposite in meaning as propaganda. He asked Ms Crichton if she would ""take responsibility"" for a briefing that referred to ""exceptions"", ""given that you were one of the people drafting it?"" Ms Crichton said her input to the briefing would have been to do with a report that the Post Office was due to publish by investigators Second Sight. ""If I had solely drafted it and it had been my work then I would take responsibility,"" she said, but added: ""I can't remember that."" Mr Blake then showed an email to the inquiry between Lesley Sewell, the Post Office's former IT chief and Martin Edwards, who is still a Post Office executive. In it, Ms Sewell said: ""We need to be careful in our [communications] not to indicate that we do not have anomalies or exceptions as that is not the case - it's the context which is important..."" Mr Blake asked whether the wording being used indicates an element of ""smoke and mirrors about the whole thing"". Ms Crichton responded: ""It certainly reads in that way, yes."" ",BBC,23/04/2024,"['The Post Office changed how it described problems with its Horizon IT system based on a suggestion by the husband of former boss, Paula Vennells.', 'The inquiry into the scandal has revealed that following advice from John Vennells, the Post Office stopped referring to ""bugs"", and instead called them ""anomalies and exceptions"".', 'Senior executives felt that this language was ""less emotive"".', 'But a lawyer for the inquiry branded the move as ""absolutely Orwellian"".', ""The long-running inquiry is looking into how hundreds of sub-postmasters were prosecuted for offences including theft and false accounting on the strength of the Post Office's faulty Horizon software system."", 'The prosecutions between between 1999 and 2015 resulted in what is widely regarded as one of the worst miscarriages of justice in British history.', ""On Tuesday, the Post Office's former general counsel Susan Crichton gave evidence."", 'Julian Blake, one of the lawyers for the inquiry, revealed an email from Ms Vennells from 2013 in which she asked her ""engineer/computer literate"" husband: ""What is a non-emotive word for computer bugs, glitches, defects that happen as a matter of course?""', 'Mr Vennells, who did not work for the Post Office, suggested ""exception or anomaly"".', 'The Post Office then started to refer to known defects in the system as ""exceptions"". ""', 'Are we to understand here that words that were suggested by Paula Vennells\' husband have now made their way into the terminology that\'s being used by the business?""', 'asked Mr Blake. ""', 'That\'s certainly what it looks like,"" Ms Crichton said. ""', 'It\'s absolutely Orwellian, isn\'t it, the use of the word \'exception\' now, instead of \'bug\'?""', 'he said. ""', 'Changing the language within the company.""', 'Mr Blake was referring to the novel 1984 by George Orwell in which a repressive government uses words that are the opposite in meaning as propaganda.', 'He asked Ms Crichton if she would ""take responsibility"" for a briefing that referred to ""exceptions"", ""given that you were one of the people drafting it?""', 'Ms Crichton said her input to the briefing would have been to do with a report that the Post Office was due to publish by investigators Second Sight. ""', 'If I had solely drafted it and it had been my work then I would take responsibility,"" she said, but added: ""I can\'t remember that.""', ""Mr Blake then showed an email to the inquiry between Lesley Sewell, the Post Office's former IT chief and Martin Edwards, who is still a Post Office executive."", 'In it, Ms Sewell said: ""We need to be careful in our [communications] not to indicate that we do not have anomalies or exceptions as that is not the case - it\'s the context which is important..."" Mr Blake asked whether the wording being used indicates an element of ""smoke and mirrors about the whole thing"".', 'Ms Crichton responded: ""It certainly reads in that way, yes.""']",-0.0493504389914429,"Ms Crichton responded: ""It certainly reads in that way, yes.""","The inquiry into the scandal has revealed that following advice from John Vennells, the Post Office stopped referring to ""bugs"", and instead called them ""anomalies and exceptions"".",-0.9061890244483948,,"Senior executives felt that this language was ""less emotive"".",2024-04-25
-A brutal elimination round is reshaping the world’s biggest market for electric cars,https://edition.cnn.com/2024/04/24/business/china-ev-industry-competition-analysis-intl-hnk/index.html,"
-  Published
-        11:05 PM EDT, Wed April 24, 2024
-    ","A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV).
-    
-            Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to become global players. BYD, for example, is now vying with Tesla for leadership of the battery electric vehicle market.
-    
-            But all of the country’s more than 200 EV manufacturers are now grappling with huge oversupply, and experts predict many smaller companies will not survive the fiercely-competitive environment.
-    
-            From a brutal price war to slowing sales in a weakening economy, the challenges unfolding in China have also forced some global automakers to retreat. And, it doesn’t help that the enthusiasm for EVs is waning in other markets around the world.
-    
-            “China’s EV industry is only going to go from strength to strength as a whole, but not every player today will see the finish line,” said Mark Rainford, an automotive industry commentator based in Shanghai who hosts the YouTube channel “Inside China Auto.”
-    
-            Even Chinese officials have said that carmakers will need a cast iron stomach to pull through the next few months.
-    
-            “Competition in the new energy vehicle (NEV) industry will be extremely fierce in 2024,” the National Development and Reform Commission (NDRC), the country’s top economic planner, said on Monday.
-    
-            More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. These include once-popular EV brands, such as WM Motor, Byton, Aiways, and Levdeo.
-    
-            Some global automakers have also had to restructure their businesses or shut down operations. In October, Mitsubishi Motors announced it would end production of its cars at its joint venture in China. Honda (HMC), Hyundai and Ford (F) have also taken steps, including layoffs and factory sales, to cut costs, according to stock exchange filings and state media reports.
-    
-            By 2030, China could have fewer than five major EV players, Richard Yu, CEO of Huawei’s consumer business division, predicted last June. Huawei has formed partnerships with several automakers to produce EVs.
-    
-            So what makes the industry so difficult for both local and foreign players, and what’s ahead for EV makers in the world’s second largest economy?
-    
-            Aggressive price cuts are a major headache.
-    
-            The price war kicked off in October 2022, when Tesla (TSLA) slashed prices for its Model 3 and Model Y cars in China by as much as 9%. Three months later, it discounted its cars again, triggering a wave of price cuts that engulfed the country’s auto industry in 2023, including gasoline car producers.
-    
-            The pressure just became even more intense.
-    
-            Just this week, Tesla once again cut the starting prices of four models sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932). Xpeng and Li Auto, China’s fastest growing car brands, immediately followed suit, offering steep discounts or tens of millions of dollars in subsidies to attract buyers.
-    
-            “The price war is likely to rage on further into this year, though it’s hard to imagine prices can come down much further than they already have,” said Rainford.
-    
-            The deals available to Chinese car buyers are now very attractive, but some brands will not be able to sustain these discounts forever, he said.
-    
-            “They’re going to need deep pockets and smart marketing to take enough business,” he added.
-    
-            The price cuts have squeezed profitability. In 2023, the average profit margin for China’s auto industry slid to 5%, the lowest level in at least a decade, according to data from the China Association of Auto Manufacturers (CAAM).
-    
-            Overcrowding is another major issue plaguing China’s EV industry.
-    
-            The NDRC expects more than 110 new NEV models to be launched this year, adding to a flood of EVs hitting the market.
-    
-            For 2024, BYD, Huawei’s Aito and Li Auto alone are planning to increase deliveries by 2.3 million vehicles, the NDRC said. But the total market demand is forecast to increase by only 2.1 million cars.
-    
-            “The market will be in a state of oversupply for a long time,” it added.
-    
-            And now, more companies are joining the overcrowded field.
-    
-            Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. CEO Lei Jun said he wants to take on Tesla and Porsche with the new premium car that comes with a starting price of just 215,900 yuan ($29,794).
-    
-            Last November, Meizu, another smartphone maker, announced it would partner with Geely Auto and launch its first EV, Meizu DreamCar MX, in 2024.
-    
-            The same month, Huawei launched its first electric sedan, the Luxeed S7, co-developed with Chery Auto with a view to taking on Tesla’s Model S.
-    
-            The CAAM has forecast the country’s total passenger cars sales will be around 26.8 million vehicles for 2024. But the combined sales targets by major manufacturers have so far reached nearly 30 million units.
-    
-            That oversupply means companies need to speed up sales, including by boosting exports — at the risk of raising tensions with key trading partners. Failure to do so may cause cash flow problems and plunge the manufacturers into crisis.
-    
-            And the battle may get harder for foreign players. 
-    
-            Tesla was briefly dethroned by BYD as the world’s bestselling EV brand in the fourth quarter of last year. BYD’s entry-level model sells in China for the equivalent of just below $10,000. In contrast, Tesla’s Model 3, its cheapest model, currently costs at least 231,900 yuan ($32,002) after the latest price cut.
-    
-            “The quality of the products now, combined with the unparalleled levels of automation and innovation going into Chinese cars, means it’s the traditional foreign players who will be feeling the pressure rising as more Chinese brands display their wares in international markets,” Rainford said.
-    
-            As competition becomes more intense, many carmakers will perish in the coming months, according to China’s EV company CEOs.
-    
-            “Entering 2024, the knockout round of China’s auto industry will begin in an all-round way, and the industry will enter a period of consolidation, with a complete reshuffle,” said Gan Jiayue, chief executive officer of Geely Auto, at the company’s earnings conference in March.
-    
-            Wang Chuanfu, chairman of BYD, also predicted in March that a “brutal elimination round” is coming.
-    
-            “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing. “Companies must form economies of scale and brand advantages as soon as possible.”
-    
-            Further consolidation of the industry means more small-to-medium-sized companies could be wiped out, industry insiders predict.
-    
-            According to Yin Tongyue, chairman of Chery Auto, EV makers are entering a “life and death race.” He added last month that his company would roll out 39 new pure electric and hybrid models in 2024 and 2025 to gain a top position in the EV market.
-    
-            But for those that survive, the future isn’t entirely bleak.
-    
-            In 2024, the market share of electric cars could reach up to 45% in China, underpinned by competition among manufacturers, falling battery and car prices and ongoing policy support, according to the International Energy Agency.",CNN,24/04/2024,"['A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV).', 'Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to become global players.', 'BYD, for example, is now vying with Tesla for leadership of the battery electric vehicle market.', 'But all of the country’s more than 200 EV manufacturers are now grappling with huge oversupply, and experts predict many smaller companies will not survive the fiercely-competitive environment.', 'From a brutal price war to slowing sales in a weakening economy, the challenges unfolding in China have also forced some global automakers to retreat.', 'And, it doesn’t help that the enthusiasm for EVs is waning in other markets around the world.', '“China’s EV industry is only going to go from strength to strength as a whole, but not every player today will see the finish line,” said Mark Rainford, an automotive industry commentator based in Shanghai who hosts the YouTube channel “Inside China Auto.”', 'Even Chinese officials have said that carmakers will need a cast iron stomach to pull through the next few months.', '“Competition in the new energy vehicle (NEV) industry will be extremely fierce in 2024,” the National Development and Reform Commission (NDRC), the country’s top economic planner, said on Monday.', 'More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association.', 'These include once-popular EV brands, such as WM Motor, Byton, Aiways, and Levdeo.', 'Some global automakers have also had to restructure their businesses or shut down operations.', 'In October, Mitsubishi Motors announced it would end production of its cars at its joint venture in China.', 'Honda (HMC), Hyundai and Ford (F) have also taken steps, including layoffs and factory sales, to cut costs, according to stock exchange filings and state media reports.', 'By 2030, China could have fewer than five major EV players, Richard Yu, CEO of Huawei’s consumer business division, predicted last June.', 'Huawei has formed partnerships with several automakers to produce EVs.', 'So what makes the industry so difficult for both local and foreign players, and what’s ahead for EV makers in the world’s second largest economy?', 'Aggressive price cuts are a major headache.', 'The price war kicked off in October 2022, when Tesla (TSLA) slashed prices for its Model 3 and Model Y cars in China by as much as 9%.', 'Three months later, it discounted its cars again, triggering a wave of price cuts that engulfed the country’s auto industry in 2023, including gasoline car producers.', 'The pressure just became even more intense.', 'Just this week, Tesla once again cut the starting prices of fourmodels sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932).', 'Xpeng and Li Auto, China’s fastest growing car brands, immediately followed suit, offering steep discounts or tens of millions of dollars in subsidies to attract buyers.', '“The price war is likely to rage on further into this year, though it’s hard to imagine prices can come down much further than they already have,” said Rainford.', 'The deals available to Chinese car buyers are now very attractive, but some brands will not be able to sustain these discounts forever, he said.', '“They’re going to need deep pockets and smart marketing to take enough business,” he added.', 'The price cuts have squeezed profitability.', 'In 2023, the average profit margin for China’s auto industry slid to 5%, the lowest level in at least a decade, according to data from the China Association of Auto Manufacturers (CAAM).', 'Overcrowding is another major issue plaguing China’s EV industry.', 'The NDRC expects more than 110 new NEV models to be launched this year, adding to a flood of EVs hitting the market.', 'For 2024, BYD, Huawei’s Aito and Li Auto alone are planning to increase deliveries by 2.3 million vehicles, the NDRC said.', 'But the total market demand is forecast to increase by only 2.1 million cars.', '“The market will be in a state of oversupply for a long time,” it added.', 'And now, more companies are joining the overcrowded field.', 'Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan.', 'CEO Lei Jun said he wants to take on Tesla and Porsche with the new premium car that comes with a starting price of just 215,900 yuan ($29,794).', 'Last November, Meizu, another smartphone maker, announced it would partner with Geely Auto and launch its first EV, Meizu DreamCar MX, in 2024.', 'The same month, Huawei launched its first electric sedan, the Luxeed S7, co-developed with Chery Auto with a view to taking on Tesla’s Model S.  The CAAM has forecast the country’s total passenger cars sales will be around 26.8 million vehicles for 2024.', 'But the combined sales targets by major manufacturers have so far reached nearly 30 million units.', 'That oversupply means companies need to speed up sales, including by boosting exports — at the risk of raising tensions with key trading partners.', 'Failure to do so may cause cash flow problems and plunge the manufacturers into crisis.', 'And the battle may get harder for foreign players.', 'Tesla wasbriefly dethroned by BYDas the world’s bestselling EV brand in the fourth quarter of last year.', 'BYD’s entry-level model sells in China for the equivalent of just below $10,000.', 'In contrast, Tesla’s Model 3, its cheapest model, currently costs at least 231,900 yuan ($32,002) after the latest price cut.', '“The quality of the products now, combined with the unparalleled levels of automation and innovation going into Chinese cars, means it’s the traditional foreign players who will be feeling the pressure rising as more Chinese brands display their wares in international markets,” Rainford said.', 'As competition becomes more intense, many carmakers will perish in the coming months, according to China’s EV company CEOs.', '“Entering 2024, the knockout round of China’s auto industry will begin in an all-round way, and the industry will enter a period of consolidation, with a complete reshuffle,” said Gan Jiayue, chief executive officer of Geely Auto, at the company’s earnings conference in March.', 'Wang Chuanfu, chairman of BYD, also predicted in March that a “brutal elimination round” is coming.', '“China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing. “', 'Companies must form economies of scale and brand advantages as soon as possible.”', 'Further consolidation of the industry means more small-to-medium-sized companies could be wiped out, industry insiders predict.', 'According to Yin Tongyue, chairman of Chery Auto, EV makers are entering a “life and death race.”', 'He added last month that his company would roll out 39 new pure electric and hybrid models in 2024 and 2025 to gain a top position in the EV market.', 'But for those that survive, the future isn’t entirely bleak.', 'In 2024, the market share of electric cars could reach up to 45% in China, underpinned by competition among manufacturers, falling battery and car prices and ongoing policy support, according to the International Energy Agency.']",-0.0012676710398993,"Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to become global players.","From a brutal price war to slowing sales in a weakening economy, the challenges unfolding in China have also forced some global automakers to retreat.",-0.1663396229615082,He added last month that his company would roll out 39 new pure electric and hybrid models in 2024 and 2025 to gain a top position in the EV market.,"In 2023, the average profit margin for China’s auto industry slid to 5%, the lowest level in at least a decade, according to data from the China Association of Auto Manufacturers (CAAM).",2024-04-25
-UK businesses to suffer if TikTok banned in the US,https://www.bbc.co.uk/news/articles/c3gl5qly48qo,2024-04-24T23:05:36.429Z,"A TikTok ban in the US could have a ""potentially devastating"" impact on some UK businesses, online traders are warning. President Biden has signed into law a bill that gives TikTok's Chinese owner, ByteDance, nine months to sell its stake in the app or it will be blocked in the US. TikTok has said it will challenge this in court. Some 1.5 million UK businesses operate on the app, according to TikTok. Isobel Perl, founder of Perl Cosmetics in London, is worried about the possible impact of a ban as a quarter of her sales now come from the US. Ms Perl founded her skincare and accessories business after losing her job during the pandemic and uses apps such as TikTok to drive traffic to her website. The first six months were ""just figuring out how to run a business on her own"" and it wasn't until she started using TikTok that the brand really took off, she said. ""I mostly use TikTok to drive sales to our website, of all the social media apps it drives the most traffic"". She's been using the app to grow her business outside of the UK. A TikTok ban in the US ""could be potentially devastating to businesses in the UK, TikTok is quite a unique way of reaching customers,"" she said.  Kyle Frank, founder of Franks Remedies, also sells skincare products on TikTok. He's worked hard to grow his customer base on the app and America is now a big market for him.  He told BBC World Service's Marketplace programme, that a ban would really hurt his business.  ""Certain months 60-70% of our monthly sales have come from the US,"" he said.  The US has become his second biggest market and TikTok has been a successful way of reaching those customers, he added. ""We haven't really had to spend any money on ads or marketing to get those customers and connect with them.""  In recent months US officials have voiced alarm over TikTok's popularity with young people. The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. TikTok said it would challenge this ""unconstitutional"" law in court.  ""The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said in a statement. A spokesman for TikTok denounced the bill, saying it ""would trample the free speech rights of 170 million Americans, devastate seven million businesses, and shutter a platform that contributes $24bn (£19.4bn) to the US economy annually"". Jenny Bailey from Merseyside runs Calla Shoes, a footwear brand that specialises in shoes for women with bunions.  She said whenever she sees a big surge in traffic from TikTok, a lot of those customers are from the US. ""We've managed to grow our US revenue from around 20% to 50% of our total business,"" she said. If TikTok does end up being banned in the US she believes ""the opportunity to grow organically as quickly as we have would be severely affected"". Other social media apps that Jenny uses just don't have the same impact, she said. ""We know what works on TikTok can sometimes work quite well on Instagram, but we don't get those big spikes in traffic from the USA on Instagram that we see on TikTok.""  It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process. ",BBC,24/04/2024,"['A TikTok ban in the US could have a ""potentially devastating"" impact on some UK businesses, online traders are warning.', ""President Biden has signed into law a bill that gives TikTok's Chinese owner, ByteDance, nine months to sell its stake in the app or it will be blocked in the US."", 'TikTok has said it will challenge this in court.', 'Some 1.5 million UK businesses operate on the app, according to TikTok.', 'Isobel Perl, founder of Perl Cosmetics in London, is worried about the possible impact of a ban as a quarter of her sales now come from the US.', 'Ms Perl founded her skincare and accessories business after losing her job during the pandemic and uses apps such as TikTok to drive traffic to her website.', 'The first six months were ""just figuring out how to run a business on her own"" and it wasn\'t until she started using TikTok that the brand really took off, she said. ""', 'I mostly use TikTok to drive sales to our website, of all the social media apps it drives the most traffic"".', ""She's been using the app to grow her business outside of the UK."", 'A TikTok ban in the US ""could be potentially devastating to businesses in the UK, TikTok is quite a unique way of reaching customers,"" she said.', 'Kyle Frank, founder of Franks Remedies, also sells skincare products on TikTok.', ""He's worked hard to grow his customer base on the app and America is now a big market for him."", 'He told BBC World Service\'s Marketplace programme, that a ban would really hurt his business. ""', 'Certain months 60-70% of our monthly sales have come from the US,"" he said.', 'The US has become his second biggest market and TikTok has been a successful way of reaching those customers, he added. ""', 'We haven\'t really had to spend any money on ads or marketing to get those customers and connect with them.""', ""In recent months US officials have voiced alarm over TikTok's popularity with young people."", 'The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied.', 'TikTok said it would challenge this ""unconstitutional"" law in court. ""', 'The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said in a statement.', 'A spokesman for TikTok denounced the bill, saying it ""would trample the free speech rights of 170 million Americans, devastate seven million businesses, and shutter a platform that contributes $24bn (£19.4bn) to the US economy annually"".', 'Jenny Bailey from Merseyside runs Calla Shoes, a footwear brand that specialises in shoes for women with bunions.', 'She said whenever she sees a big surge in traffic from TikTok, a lot of those customers are from the US. ""', 'We\'ve managed to grow our US revenue from around 20% to 50% of our total business,"" she said.', 'If TikTok does end up being banned in the US she believes ""the opportunity to grow organically as quickly as we have would be severely affected"".', 'Other social media apps that Jenny uses just don\'t have the same impact, she said. ""', 'We know what works on TikTok can sometimes work quite well on Instagram, but we don\'t get those big spikes in traffic from the USA on Instagram that we see on TikTok.""', 'It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process.']",-0.0949055464739127,"The US has become his second biggest market and TikTok has been a successful way of reaching those customers, he added. ""","A TikTok ban in the US could have a ""potentially devastating"" impact on some UK businesses, online traders are warning.",-0.163652241230011,"We've managed to grow our US revenue from around 20% to 50% of our total business,"" she said.",In recent months US officials have voiced alarm over TikTok's popularity with young people.,2024-04-25
-Comcast beats earnings estimates even as it sheds more broadband subscribers,https://www.cnbc.com/2024/04/25/comcast-cmcsa-earnings-1q24.html,2024-04-25T15:24:55+0000,"In this articleComcast beat first-quarter earnings expectations on Thursday as broadband drove revenue even as the company and its peers have seen customer growth slow.Here is how Comcast performed, compared with estimates from analysts surveyed by LSEG:For the quarter that ended March 31, net income rose 0.6% to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share, a year earlier. Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, slid 0.6% to roughly $9.4 billion.The company's revenue grew 1.2% to $30.06 billion compared to the same period last year. Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter.Comcast's stock was trading down about 6% on Thursday.Cable broadband companies' customer additions have slumped in recent quarters and weighed on stock prices.The slowdown in the buying and selling of houses due to high interest rates has led to a decline in new home internet connections. Cable providers have also been hit with heightened competition for home broadband from wireless companies such as T-Mobile and Verizon.Mike Cavanagh, president of Comcast, said on Thursday's earnings call that the market is ""extremely competitive,"" especially for ""cost-conscious customers.""Earlier this month, Comcast said it would launch NOW, a prepaid and month-to-month low-cost internet and phone plan program. The plan is designed to provide fixed wireless options at a low cost.The plan supplements Comcast's long-standing internet option for low-income customers, called Internet Essentials.Company executives do not expect an improvement in the near term, particularly with the expected end of the federal government's Affordable Connectivity Program, or ACP, which offers a $30 discount on broadband services to qualifying low-income households, in April.Comcast's wireless business saw a 21% increase in customers during the quarter to 6.9 million total lines. The company lost 487,000 cable TV customers during the quarter as consumers continued to cut the cord in favor of streaming.The company's theme parks adjusted EBITDA fell 3.9% to $632 million during the quarter, due to an increase in operating expenses such as higher marketing and promotion costs, as well as the negative effect of foreign currency.On Thursday, Cavanagh noted attendance at the Orlando theme park ""felt some pressure"" in the most recent quarter, as the company is in between introducing new attractions. He added the company is confident about long-term growth and future opportunities for its parks.Increased competition, particularly from cruises, also weighed on theme parks, Comcast Chief Financial Officer Jason Armstrong said on Thursday's call.Similarly, earnings for its media business, which includes NBCUniversal, and studios also declined. The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion.Still, Comcast executives touted the strength of Universal Pictures' film slate, from recent Academy Award winners ""Oppenheimer"" and ""The Holdovers,"" to upcoming highly anticipated movies such as the adaptation of the Broadway hit ""Wicked.""Peacock, which executives also highlighted as a bright spot and a boost to NBCUniversal, is also reaping the benefits of the film slate.Being the exclusive home of ""Oppenheimer"" when it was first released to streaming earlier this year proved to be a win for the platform. Comcast said it was the most-watched movie in Peacock history.The service added three million paid subscribers during the quarter, bringing its total number of customers to 34 million. The exclusive National Football League Wild Card game on Peacock helped to add, and then retain, more customers than expected, executives said on Thursday's call.""We're 3.5 years in, we're at a place where we're really seeing traction in our approach,"" Cavanagh said Thursday, pointing to the strength in the combination of sports and entertainment.While Peacock is known for its large offering of live sports, including the NFL and the Premier League, Cavanagh said subscribers spend 90% of their time on nonsports programming on shows such as Peacock original ""Ted,"" and its Universal film collection. He added that the company expects Peacock to have ""real pricing power"" over time.Revenue for the streamer rose 54% to $1.1 billion compared to the same period last year. While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock. Media companies have been facing a longer-than-expected soft advertising market.Losses stemming from Peacock weighed on the segment and offset higher revenue. The company saw an adjusted EBITDA loss of $639 million related to Peacock during the quarter. That improved, however, from an adjusted EBITDA loss of $704 million in the same period last year.Peacock losses were said to peak in 2023, and executives expect them to narrow in upcoming quarters. The Olympics in Paris this summer should also drive growth for the streaming service.With more hours of the Olympics on its broadcast network NBC, in addition to Peacock, the company is on track to generate its most advertising revenue in its history for the Olympics.Disclosure: Comcast is the parent company of NBCUniversal and CNBC.",CNBC,25/04/2024,"['In this articleComcast beat first-quarter earnings expectations on Thursday as broadband drove revenue even as the company and its peers have seen customer growth slow.', 'Here is how Comcast performed, compared with estimates from analysts surveyed by LSEG:For the quarter that ended March 31, net income rose 0.6% to $3.86 billion, or 97 cents a share, compared with $3.83 billion, or 91 cents a share, a year earlier.', 'Adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, slid 0.6% to roughly $9.4 billion.', ""The company's revenue grew 1.2% to $30.06 billion compared to the same period last year."", 'Revenue from the domestic broadband customers segment boosted that growth as rates increased, even as Comcast lost 65,000 customers during the quarter.', ""Comcast's stock was trading down about 6% on Thursday."", ""Cable broadband companies' customer additions have slumped in recent quarters and weighed on stock prices."", 'The slowdown in the buying and selling of houses due to high interest rates has led to a decline in new home internet connections.', 'Cable providers have also been hit with heightened competition for home broadband from wireless companies such as T-Mobile and Verizon.', 'Mike Cavanagh, president of Comcast, said on Thursday\'s earnings call that the market is ""extremely competitive,"" especially for ""cost-conscious customers.', '""Earlier this month, Comcast said it would launch NOW, a prepaid and month-to-month low-cost internet and phone plan program.', 'The plan is designed to provide fixed wireless options at a low cost.', ""The plan supplements Comcast's long-standing internet option for low-income customers, called Internet Essentials."", ""Company executives do not expect an improvement in the near term, particularly with the expected end of the federal government's Affordable Connectivity Program, or ACP, which offers a $30 discount on broadband services to qualifying low-income households, in April."", ""Comcast's wireless business saw a 21% increase in customers during the quarter to 6.9 million total lines."", 'The company lost 487,000 cable TV customers during the quarter as consumers continued to cut the cord in favor of streaming.', ""The company's theme parks adjusted EBITDA fell 3.9% to $632 million during the quarter,due to an increase in operating expenses such as higher marketing and promotion costs, as well as the negative effect of foreign currency."", 'On Thursday, Cavanagh noted attendance at the Orlando theme park ""felt some pressure"" in the most recent quarter, as the company is in between introducing new attractions.', 'He added the company is confident about long-term growth and future opportunities for its parks.', ""Increased competition, particularly from cruises, also weighed on theme parks, Comcast Chief Financial Officer Jason Armstrong said on Thursday's call."", 'Similarly, earnings for its media business, which includes NBCUniversal, and studios also declined.', 'The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion.', 'Still, Comcast executives touted the strength of Universal Pictures\' film slate, from recent Academy Award winners ""Oppenheimer"" and ""The Holdovers,"" to upcoming highly anticipated movies such as the adaptation of the Broadway hit ""Wicked.', '""Peacock, which executives also highlighted as a bright spot and a boost to NBCUniversal, is also reaping the benefits of the film slate.', 'Being the exclusive home of ""Oppenheimer"" when it was first released to streaming earlier this year proved to be a win for the platform.', 'Comcast said it was the most-watched movie in Peacock history.', 'The service added three million paid subscribers during the quarter, bringing its total number of customers to 34 million.', ""The exclusive National Football League Wild Card game on Peacock helped to add, and then retain, more customers than expected, executives said on Thursday's call."", '""We\'re 3.5 years in, we\'re at a place where we\'re really seeing traction in our approach,"" Cavanagh said Thursday, pointing to the strength in the combination of sports and entertainment.', 'While Peacock is known for its large offering of live sports, including the NFL and the Premier League, Cavanagh said subscribers spend 90% of their time on nonsports programming on shows such as Peacock original ""Ted,"" and its Universal film collection.', 'He added that the company expects Peacock to have ""real pricing power"" over time.', 'Revenue for the streamer rose 54% to $1.1 billion compared to the same period last year.', 'While domestic advertising was flat during the quarter, the company saw its domestic distribution revenue increase, driven by the growth at Peacock.', 'Media companies have been facing a longer-than-expected soft advertising market.', 'Losses stemming from Peacock weighed on the segment and offset higher revenue.', 'The company saw an adjusted EBITDA loss of $639 million related to Peacock during the quarter.', 'That improved, however, from an adjusted EBITDA loss of $704 million in the same period last year.', 'Peacock losses were said to peak in 2023, and executives expect them to narrow in upcoming quarters.', 'The Olympics in Paris this summer should also drive growth for the streaming service.', 'With more hours of the Olympics on its broadcast network NBC, in addition to Peacock, the company is on track to generate its most advertising revenue in its history for the Olympics.', 'Disclosure: Comcast is the parent company of NBCUniversal and CNBC.']",0.1527713570776127,He added the company is confident about long-term growth and future opportunities for its parks.,"Company executives do not expect an improvement in the near term, particularly with the expected end of the federal government's Affordable Connectivity Program, or ACP, which offers a $30 discount on broadband services to qualifying low-income households, in April.",0.1793343950720394,"The three businesses now report under the same segment, which collectively saw revenue rise 1.1% to $10.37 billion.","The company's theme parks adjusted EBITDA fell 3.9% to $632 million during the quarter,due to an increase in operating expenses such as higher marketing and promotion costs, as well as the negative effect of foreign currency.",2024-04-25
-Luxury real estate prices just hit an all-time record,https://www.cnbc.com/2024/04/22/luxury-real-estate-prices-hit-an-all-time-record.html,2024-04-22T18:44:27+0000,"In this articleReal estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin. Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.Real estate experts and brokers chalk up the divergence to interest rates and supply. With mortgage rates now above 7% for a 30-year fixed loan, most homebuyers are finding prices out of reach. Affluent and wealthy buyers, however, are snapping up homes with cash, making them less vulnerable to high rates.Nearly half of all luxury homes, defined by Redfin as homes in the top 5% of their metro area by value, were bought with all cash in the quarter, according to Redfin. That is the highest share in at least a decade. In Manhattan, all-cash deals hit a record 68% of all sales, according to Miller Samuel.The flood of cash is also driving up prices at the top. Median luxury-home prices soared nearly 9% in the quarter, roughly twice the increase seen in the broader market, according to Redfin. The median price of luxury homes hit an all-time record of $1,225,000 during the period.""People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,"" said David Palmer, a Redfin agent in Seattle, where the median-priced luxury home sells for $2.7 million. ""They're ready to buy with more optimism and less apprehension.""The luxury market is also benefiting from more supply of homes for sale. Since wealthy sellers are more likely to buy with cash, they are not as worried about trading out of a low-rate mortgage like most homeowners. That has freed up the upper end of listings, creating more inventory and driving more sales.The number of luxury homes for sale jumped 13% in the first quarter, compared to a 3% decline for the rest of the housing market, according to Redfin. While overall luxury inventory remains ""well below"" pre-pandemic levels, the number of luxury listings that came online during the first quarter jumped 19%, the report said.""Prices continue to increase for high-end homes, so homeowners feel it's a good time to cash in on their equity,"" Palmer said.Still, not all luxury markets are booming, and the strongest price growth is in areas not typically known for luxury homes. According to Redfin, the market with the fastest luxury price growth was Providence, Rhode Island, with prices up 16%, followed by New Brunswick, New Jersey, where prices were up 15%. New York City saw the biggest price decline, down 10%.When it comes to overall sales of luxury homes, Seattle posted the strongest growth of any metro area, with sales up 37%. Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.Luxury homes sold the fastest in Seattle, with a median days on the market of nine days, followed by Oakland, California, and San Jose, California.Subscribe to CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,22/04/2024,"['In this articleReal estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.', 'Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.', 'Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.', 'Real estate experts and brokers chalk up the divergence to interest rates and supply.', 'With mortgage rates now above 7% for a 30-year fixed loan, most homebuyers are finding prices out of reach.', 'Affluent and wealthy buyers, however, are snapping up homes with cash, making them less vulnerable to high rates.', 'Nearly half of all luxury homes, defined by Redfin as homes in the top 5% of their metro area by value, were bought with all cash in the quarter, according to Redfin.', 'That is the highest share in at least a decade.', 'In Manhattan, all-cash deals hit a record 68% of all sales, according to Miller Samuel.', 'The flood of cash is also driving up prices at the top.', 'Median luxury-home prices soared nearly 9% in the quarter, roughly twice the increase seen in the broader market, according to Redfin.', 'The median price of luxury homes hit an all-time record of $1,225,000 during the period.', '""People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,"" said David Palmer, a Redfin agent in Seattle, where the median-priced luxury home sells for $2.7 million. ""', ""They're ready to buy with more optimism and less apprehension."", '""The luxury market is also benefiting from more supply of homes for sale.', 'Since wealthy sellers are more likely to buy with cash, they are not as worried about trading out of a low-rate mortgage like most homeowners.', 'That has freed up the upper end of listings, creating more inventory and driving more sales.', 'The number of luxury homes for sale jumped 13% in the first quarter, compared to a 3% decline for the rest of the housing market, according to Redfin.', 'While overall luxury inventory remains ""well below"" pre-pandemic levels, the number of luxury listings that came online during the first quarter jumped 19%, the report said.', '""Prices continue to increase for high-end homes, so homeowners feel it\'s a good time to cash in on their equity,"" Palmer said.', 'Still, not all luxury markets are booming, and the strongest price growth is in areas not typically known for luxury homes.', 'According to Redfin, the market with the fastest luxury price growth was Providence, Rhode Island, with prices up 16%, followed by New Brunswick, New Jersey, where prices were up 15%.', 'New York City saw the biggest price decline, down 10%.When it comes to overall sales of luxury homes, Seattle posted the strongest growth of any metro area, with sales up 37%.', 'Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.', 'Luxury homes sold the fastest in Seattle, with a median days on the market of nine days, followed by Oakland, California, and San Jose, California.', ""Subscribe to CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.2935726734738048,"Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.","In this articleReal estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.",0.7137443707102821,"Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.","Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.",2024-04-25
-How fraudsters are getting fake articles onto Facebook,https://www.bbc.co.uk/news/business-68843985,2024-04-24T23:08:44.000Z,"I have been really busy recently, writing articles about famous people. I've done interviews with the likes of Zoe Ball, Jeremy Clarkson and Chris Tarrant. There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies. And if this all sounds a bit unbelievable, that's because it is - I hadn't done a single one of these interviews, nor written any of the articles. And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind. Instead, the fake stories were all AI-generated scams that appeared on Facebook news feeds in a BBC template, and with my byline. The fraudsters behind them hope that people will click through to the full article, and from there be tempted to invest in a fake investment scheme being promoted on the page. I was curious as to how these scam posts were getting onto Facebook in the first place, so I contacted Tony Gee, a senior consultant at cybersecurity firm Penn Test Partners. After examining the URL, or web address, of one scam page he said it was most likely a paid-for Facebook advert. Mr Gee said he could tell that because the URL had a unique value that Facebook adds to allow it to track outbound clicks. I put this finding to Facebook's owner Meta, who said: ""We don't allow fraudulent activity on our platforms, and have removed the ads brought to our attention."" But how are the scammers able to get the fake ads onto Facebook news feeds in the first place? How can they get past Facebook's automated detection systems? Prof Alan Woodward, a computer scientist at the University of Surrey, says the criminals appear to be using tools that very quickly redirect users to another web page. So when the advert is first placed with Facebook, the link goes through to a harmless page, one that doesn't try to con you out of your cash. But then once this has been approved by Facebook, the fraudsters then put on a redirect that instantly takes people somewhere else - to a web page that very much wants to maliciously dent your bank account. ""If you control a website then it is relatively easy to include a redirect command, such that before someone's browser has had a chance to show them the original webpage, their browser is sent to an alternative one,"" says Prof Woodward. He adds that the fraudsters can quickly and easily keep changing the destination of the redirect. ""As soon as you are able to obfuscate the true nature of a URL, that is manna for scammers,"" he says. This is a type of online fraud called ""cloaking"", whereby malicious adverts are able to get past a social media firm's review stage because the fraudsters have hidden their intentions. Meta says it is using what it has learnt about this technique to improve its automated detection systems. Read more stories on artificial intelligence Margaret (not her real name) is a retiree who lives in Buckinghamshire. She was recently conned out of £250 when she fell victim to fake advert on Instagram, which is also owned by Meta. She had been tempted to click on a link to a fictitious ITV article in which presenter Robert Peston (or rather, a scammer pretending it was him), chats about an investment opportunity he had come across. Margaret who trusts Mr Peston and the ITV brand decided to invest. In addition to paying the £250, Margaret sent off pictures of her passport, and both sides of her credit card. She immediately started getting phone calls. ""It was someone with an American accent welcoming me and saying my money was already making money,"" she tells me. The phone calls kept coming, as did a torrent of emails. Margaret became suspicious, particularly when they started asking her about her income and savings, and when she intended to invest more money. ""I contacted my bank and was refunded but it didn't stop the scammers."" Margaret still receives daily calls, and even started getting them from someone purporting to be from the US National Security Agency promising to help her investigate the scam. ""My own mental health is being impacted and I believe I am at risk, in particular identity theft and indeed potential monetary theft,"" she says. ""They are so mega persistent, and are dangerous pests."" It is an issue that UK consumer watchdog Which? has been looking into. ""Malicious advertisers may mask web links or impersonate trusted brands such as the BBC to evade online platforms' reporting systems, and people often don't know they're looking at a scam or a deepfake until it's too late,"" says Rocio Concha, its director of policy and advocacy. ""It should not fall on consumers to protect themselves from this fraudulent content online. Ofcom must use its powers under the Online Safety Act  [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers."" Ofcom said in a statement that tackling fraud ""is a priority"" for the regulator. ""The UK's new online safety laws will be an important part of making it harder for fraudsters to operate,"" it added. ""Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it."" Nicolas Corry is managing director at financial investigation firm Skadi. He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. ""These companies are making vast amounts of profits, and exposing people to fraud,"" he adds. ""And then it's the finance companies that pay for this, or the victims themselves."" Mr Corry says social media firms should be more rigorously checking each advert, and its links, before they allow them to go up.  ",BBC,24/04/2024,"['I have been really busy recently, writing articles about famous people.', ""I've done interviews with the likes of Zoe Ball, Jeremy Clarkson and Chris Tarrant."", 'There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies.', ""And if this all sounds a bit unbelievable, that's because it is - I hadn't done a single one of these interviews, nor written any of the articles."", 'And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind.', 'Instead, the fake stories were all AI-generated scams that appeared on Facebook news feeds in a BBC template, and with my byline.', 'The fraudsters behind them hope that people will click through to the full article, and from there be tempted to invest in a fake investment scheme being promoted on the page.', 'I was curious as to how these scam posts were getting onto Facebook in the first place, so I contacted Tony Gee, a senior consultant at cybersecurity firm Penn Test Partners.', 'After examining the URL, or web address, of one scam page he said it was most likely a paid-for Facebook advert.', 'Mr Gee said he could tell that because the URL had a unique value that Facebook adds to allow it to track outbound clicks.', 'I put this finding to Facebook\'s owner Meta, who said: ""We don\'t allow fraudulent activity on our platforms, and have removed the ads brought to our attention.""', 'But how are the scammers able to get the fake ads onto Facebook news feeds in the first place?', ""How can they get past Facebook's automated detection systems?"", 'Prof Alan Woodward, a computer scientist at the University of Surrey, says the criminals appear to be using tools that very quickly redirect users to another web page.', ""So when the advert is first placed with Facebook, the link goes through to a harmless page, one that doesn't try to con you out of your cash."", 'But then once this has been approved by Facebook, the fraudsters then put on a redirect that instantly takes people somewhere else - to a web page that very much wants to maliciously dent your bank account. ""', 'If you control a website then it is relatively easy to include a redirect command, such that before someone\'s browser has had a chance to show them the original webpage, their browser is sent to an alternative one,"" says Prof Woodward.', 'He adds that the fraudsters can quickly and easily keep changing the destination of the redirect. ""', 'As soon as you are able to obfuscate the true nature of a URL, that is manna for scammers,"" he says.', 'This is a type of online fraud called ""cloaking"", whereby malicious adverts are able to get past a social media firm\'s review stage because the fraudsters have hidden their intentions.', 'Meta says it is using what it has learnt about this technique to improve its automated detection systems.', 'Read more stories on artificial intelligence Margaret (not her real name) is a retiree who lives in Buckinghamshire.', 'She was recently conned out of £250 when she fell victim to fake advert on Instagram, which is also owned by Meta.', 'She had been tempted to click on a link to a fictitious ITV article in which presenter Robert Peston (or rather, a scammer pretending it was him), chats about an investment opportunity he had come across.', 'Margaret who trusts Mr Peston and the ITV brand decided to invest.', 'In addition to paying the £250, Margaret sent off pictures of her passport, and both sides of her credit card.', 'She immediately started getting phone calls. ""', 'It was someone with an American accent welcoming me and saying my money was already making money,"" she tells me.', 'The phone calls kept coming, as did a torrent of emails.', 'Margaret became suspicious, particularly when they started asking her about her income and savings, and when she intended to invest more money. ""', 'I contacted my bank and was refunded but it didn\'t stop the scammers.""', 'Margaret still receives daily calls, and even started getting them from someone purporting to be from the US National Security Agency promising to help her investigate the scam. ""', 'My own mental health is being impacted and I believe I am at risk, in particular identity theft and indeed potential monetary theft,"" she says. ""', 'They are so mega persistent, and are dangerous pests.""', 'It is an issue that UK consumer watchdog Which?', 'has been looking into. ""', 'Malicious advertisers may mask web links or impersonate trusted brands such as the BBC to evade online platforms\' reporting systems, and people often don\'t know they\'re looking at a scam or a deepfake until it\'s too late,"" says Rocio Concha, its director of policy and advocacy. ""', 'It should not fall on consumers to protect themselves from this fraudulent content online.', 'Ofcom must use its powers under the Online Safety Act [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers.""', 'Ofcom said in a statement that tackling fraud ""is a priority"" for the regulator. ""', 'The UK\'s new online safety laws will be an important part of making it harder for fraudsters to operate,"" it added. ""', 'Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it.""', 'Nicolas Corry is managing director at financial investigation firm Skadi.', 'He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. ""', 'These companies are making vast amounts of profits, and exposing people to fraud,"" he adds. ""', 'And then it\'s the finance companies that pay for this, or the victims themselves.""', 'Mr Corry says social media firms should be more rigorously checking each advert, and its links, before they allow them to go up.']",-0.0567924797953978,"Ofcom must use its powers under the Online Safety Act [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers.""","Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it.""",-0.0352201461791992,Meta says it is using what it has learnt about this technique to improve its automated detection systems.,"He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. """,2024-04-25
-NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html,"
-  Updated
-        7:44 PM EDT, Tue March 26, 2024
-    ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.
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-            “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”
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-            “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”
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-            Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.
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-            The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.
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-            McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.
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-            As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.”
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-            In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.
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-            NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.
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-            Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”
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-            “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.
-    
-            The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”
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-            “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”
-    
-            Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.
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-            “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.
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-            Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.
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-            “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.
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-            “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“
-    
-            The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.
-    
-            In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”
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-            “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-04-25
-Disney technology executive Aaron LaBerge to leave company for personal reasons,https://www.cnbc.com/2024/04/22/disney-cto-aaron-laberge-to-leave-company-for-personal-reasons.html,2024-04-22T18:03:15+0000,"Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo.LaBerge is taking a job as CTO of PENN Entertainment, which operates ESPN Bet, the sports media company's licensed online sportsbook. He'll be responsible for driving technology strategy as a top executive in the company's interactive division. LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said.LaBerge has been a key figure in developing Disney's streaming services and, more recently, integrating advertising into Disney+. He's also led efforts to unify Hulu and Disney+ within one streaming application, which debuted last month.At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. Discovery and Fox, and ESPN's flagship streaming service that will launch in 2025.His departure adds to a growing list of veteran Disney executives who have left the company in recent years. They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.""We want to thank Aaron for the contributions he has made and the leadership he has provided at Disney over his 20 years,"" said ESPN Chairman Jimmy Pitaro and Disney Entertainment co-Chairmen Dana Walden and Alan Bergman in an internal note to employees. ""It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be a key partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.""A search for LaBerge's successor is already underway, according to a person familiar with the matter, who asked to remain anonymous because the transition plan is private. Chris Lawson, currently Disney's executive vice president of content operations and one of LaBerge's direct reports, will take over LaBerge's job on an interim basis when he departs.LaBerge first joined Disney in the late 1990s as part of the company's takeover of Starwave, a Paul Allen-founded company that partnered with ESPN before Disney fully acquired it it in 1998.WATCH: Three stock lunch: Alphabet, Disney and Salesforce",CNBC,22/04/2024,"['Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo.', ""LaBerge is taking a job as CTO of PENN Entertainment, which operates ESPN Bet, the sports media company's licensed online sportsbook."", ""He'll be responsible for driving technology strategy as a top executive in the company's interactive division."", 'LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said.', ""LaBerge has been a key figure in developing Disney's streaming services and, more recently, integrating advertising into Disney+."", ""He's also led efforts to unify Hulu and Disney+ within one streaming application, which debuted last month."", ""At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. Discovery and Fox, and ESPN's flagship streaming service that will launch in 2025.His departure adds to a growing list of veteran Disney executives who have left the company in recent years."", 'They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.', '""We wantto thank Aaron for the contributions he has made and the leadership he has provided at Disney over his 20 years,"" said ESPN Chairman Jimmy Pitaro and Disney Entertainment co-Chairmen Dana Walden and Alan Bergman in an internal note to employees. ""', 'It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.', '""A search for LaBerge\'s successor is already underway, according to a person familiar with the matter, who asked to remain anonymous because the transition plan is private.', ""Chris Lawson, currently Disney's executive vice president of content operations and one of LaBerge's direct reports, will take over LaBerge's job on an interim basis when he departs."", ""LaBerge first joined Disney in the late 1990s as part of the company's takeover of Starwave, a Paul Allen-founded company that partnered with ESPN before Disney fully acquired it it in 1998.WATCH: Three stock lunch: Alphabet, Disney and Salesforce""]",0.2673360788282376,"It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.",,0.9995514750480652,"It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.",,2024-04-25
-"Meet the private doctor to the wealthy — at $40,000 a year",https://www.cnbc.com/2024/04/22/meet-the-private-doctor-to-the-wealthy-at-40000-a-year.html,2024-04-22T18:26:03+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.When people ask Dr. Jordan Shlain to describe his medical practice, he says simply: ""It's a family office for your health.""""Family offices typically have a goal of preserving wealth,"" he said. ""Our goal is preserving your health. After the age of 24 you're a depreciating asset health-wise. So we aim to decrease the slope of the curve for as long as possible.""As depressing as that sounds for patients, Shlain's strategy is paying off as a business model. His company, Private Medical, is at the forefront of a new type of health care for the ultra-wealthy that has taken concierge medicine to a whole new level. Rather than simply offering on-call doctors and faster visits, Private Medical has pioneered a highly personalized, all-in-one service that's more akin to the most sophisticated family offices for investments.Like family offices, Private Medical has an in-house team to manage a family's entire health portfolio – from fitness and dietary tracking to longevity research, surgeries and medical emergencies. It now serves more than 1,000 wealthy families, with offices in California — San Francisco, Silicon Valley, Santa Monica and Beverly Hills — New York and Miami, and more offices on the way.Private Medical's team of 135 physicians, nurses, clinical staff, pharmacists and medical support professionals provides 24/7 on-call service, including home and office visits when needed. Private Medical doesn't advertise and gets most of its business through referrals. It prefers to call patients ""members.""Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18. The annual fees cover the cost of visits, tests and procedures in the office, but not hospitalization.The rise of family office-style medical practices – some of which are charging up to $60,000 a year for membership – reflects the surge in wealth among families worth $100 million or more and growing demand for hyper-personalized, data-driven health care from an aging class of billionaires and millionaires.The market for concierge and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, to nearly $11 billion a year, according to Precedence Research.Shlain says insurance companies, overloaded doctors and inflated prices have turned the health-care system into what he calls a ""sick care system."" Private Medical, for those who can afford it, aims to be proactive, running frequents tests and diagnostics on patients, constantly updating them with new research and science, and getting detailed information about a patient's lifestyle, habits, family lives and work lives, Shlain said.Shlain, whose father was a laparoscopic surgeon and whose mother had a Ph.D. in psychology, started out doing house calls for the Mandarin Oriental hotel in San Francisco. He took a ""crash course"" in high-end hospitality from top hotel concierges and realized health care should be more like five-star hotel service than an impersonal system of long wait times and error-filled diagnoses.  ""I will know everything about you to help you make the best decisions in your life,"" he said. ""I'm 70% doctor, 15% psychologist, 10% rabbi and 1% friend.""Private Medical's job is often to protect its patients from the broader medical system, Shlain said. One of his patients, a 38-year-old entrepreneur and big donor to a major hospital, was admitted for a bowel obstruction. The hospital CEO and chief of surgery rushed to start performing surgery. Shlain pushed back and recommended waiting a day or two. The patient recovered on his own while in the hospital ""and walked out without surgery,"" Shlain said.Shlain also creates personalized medical kits for patients to take with them when traveling or working. When one patient scratched his cornea playing beach volleyball in the Bahamas, the patient was able to treat his eye with a prescription in his medical kit rather than searching for a hospital on one of the nearby islands.Like most services for the ultra-wealthy, the main benefit of Private Medical is access. Shlain has spent over 20 years developing relationships with more than 4,000 specialists in various medical and scientific fields to connect patients with the right person for their specific needs.With roots in Silicon Valley and many tech clients, Private Medical is also connected to biotech startups doing cutting-edge research and exploring new treatments. Shlain said Private Medical conducts due diligence on four or five new companies a month to keep pace with fast-changing science and research.When one patient was diagnosed with severe depression, Shlain worked with a new ""precision psychiatric"" group at Stanford that does an MRI of the brain and uses connectomes (a map of the neural connections in the brain) to determine which medication was best for treatment.""He got the right medication, and now he's better,"" Shlain said.Private Medical also prides itself on its technology, developed with some of the top CEOs and entrepreneurs in Silicon Valley. Its platform helps both doctors and patients easily access data, manage appointments and workflows.Two big areas for his wealthy patients are longevity and sleep. With longevity, Shlain said there's no magic bullet or diet or medication to roll back time, even for billionaires. The real goal, he said is to ""enable you to live with your physical and mental faculties intact for as long as possible with the fewest high-quality interactions with the health-care system as possible.""""Your good outcome is our income,"" he said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,22/04/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'When people ask Dr. Jordan Shlain to describe his medical practice, he says simply: ""It\'s a family office for your health.', '""""Family offices typically have a goal of preserving wealth,"" he said. ""', 'Our goal is preserving your health.', ""After the age of 24 you're a depreciating asset health-wise."", 'So we aim to decrease the slope of the curve for as long as possible.', '""As depressing as that sounds for patients, Shlain\'s strategy is paying off as a business model.', 'His company, Private Medical, is at the forefront of a new type of health care for the ultra-wealthy that has taken concierge medicine to a whole new level.', ""Rather than simply offering on-call doctors and faster visits, Private Medical has pioneered a highly personalized, all-in-one service that's more akin to the most sophisticated family offices for investments."", ""Like family offices, Private Medical has an in-house team to manage a family's entire health portfolio – from fitness and dietary tracking to longevity research, surgeries and medical emergencies."", 'It now serves more than 1,000 wealthy families, with offices in California — San Francisco, Silicon Valley, Santa Monica and Beverly Hills — New York and Miami, and more offices on the way.', ""Private Medical's team of 135 physicians, nurses, clinical staff, pharmacists and medical support professionals provides 24/7 on-call service, including home and office visits when needed."", ""Private Medical doesn't advertise and gets most of its business through referrals."", 'It prefers to call patients ""members.', '""Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18.', 'The annual fees cover the cost of visits, tests and procedures in the office, but not hospitalization.', 'The rise of family office-style medical practices – some of which are charging up to $60,000 a year for membership – reflects the surge in wealth among families worth $100 million or more and growing demand for hyper-personalized, data-driven health care from an aging class of billionaires and millionaires.', 'The market for concierge and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, to nearly $11 billion a year, according to Precedence Research.', 'Shlain says insurance companies, overloaded doctors and inflated prices have turned the health-care system into what he calls a ""sick care system.""', ""Private Medical, for those who can afford it, aims to be proactive, running frequents tests and diagnostics on patients, constantly updating them with new research and science, and getting detailed information about a patient's lifestyle, habits, family lives and work lives, Shlain said."", 'Shlain, whose father was a laparoscopic surgeon and whose mother had a Ph.D. in psychology, started out doing house calls for the Mandarin Oriental hotel in San Francisco.', 'He took a ""crash course"" in high-end hospitality from top hotel concierges and realized health care should be more like five-star hotel service than an impersonal system of long wait times and error-filled diagnoses. ""', 'I will know everything about you to help you make the best decisions in your life,"" he said. ""', ""I'm 70% doctor, 15% psychologist, 10% rabbi and 1% friend."", '""Private Medical\'s job is often to protect its patients from the broader medical system, Shlain said.', 'One of his patients, a 38-year-old entrepreneur and big donor to a major hospital, was admitted for a bowel obstruction.', 'The hospital CEO and chief of surgery rushed to start performing surgery.', 'Shlain pushed back and recommended waiting a day or two.', 'The patient recovered on his own while in the hospital ""and walked out without surgery,"" Shlain said.', 'Shlain also creates personalized medical kits for patients to take with them when traveling or working.', 'When one patient scratched his cornea playing beach volleyball in the Bahamas, the patient was able to treat his eye with a prescription in his medical kit rather than searching for a hospital on one of the nearby islands.', 'Like most services for the ultra-wealthy, the main benefit of Private Medical is access.', 'Shlain has spent over 20 years developing relationships with more than 4,000 specialists in various medical and scientific fields to connect patients with the right person for their specific needs.', 'With roots in Silicon Valley and many tech clients, Private Medical is also connected to biotech startups doing cutting-edge research and exploring new treatments.', 'Shlain said Private Medical conducts due diligence on four or five new companies a month to keep pace with fast-changing science and research.', 'When one patient was diagnosed with severe depression, Shlain worked with a new ""precision psychiatric"" group at Stanford that does an MRI of the brain and uses connectomes (a map of the neural connections in the brain) to determine which medication was best for treatment.', '""He got the right medication, and now he\'s better,"" Shlain said.', 'Private Medical also prides itself on its technology, developed with some of the top CEOs and entrepreneurs in Silicon Valley.', 'Its platform helps both doctors and patients easily access data, manage appointments and workflows.', 'Two big areas for his wealthy patients are longevity and sleep.', ""With longevity, Shlain said there's no magic bullet or diet or medication to roll back time, even for billionaires."", 'The real goal, he said is to ""enable you to live with your physical and mental faculties intact for as long as possible with the fewest high-quality interactions with the health-care system as possible.', '""""Your good outcome is our income,"" he said.', ""Sign up to receive future editions of CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.256889720637067,"The rise of family office-style medical practices – some of which are charging up to $60,000 a year for membership – reflects the surge in wealth among families worth $100 million or more and growing demand for hyper-personalized, data-driven health care from an aging class of billionaires and millionaires.","""Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18.",0.6652970016002655,"The market for concierge and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, to nearly $11 billion a year, according to Precedence Research.","Shlain says insurance companies, overloaded doctors and inflated prices have turned the health-care system into what he calls a ""sick care system.""",2024-04-25
-Boeing expects slower production increase of 787 Dreamliner because of parts shortages,https://www.cnbc.com/2024/04/22/boeing-expects-slower-production-increase-of-787-dreamliner.html,2024-04-22T21:24:55+0000,"In this articleBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of ""a few key parts.""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.Stocker said Boeing is still facing supplier shortages.""To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries,"" he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand.Boeing was producing about five 787 Dreamliners per month as of late last year and said in January it aimed to get up to 10 a month as early as next year.Boeing is set to report quarterly results and will likely detail its production plans before the market opens on Wednesday.",CNBC,22/04/2024,"['In this articleBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of ""a few key parts.', '""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.', 'The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing\'s South Carolina 787 plant.', 'Stocker said Boeing is still facing supplier shortages.', '""To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries,"" he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand.', 'Boeing was producing about five 787 Dreamliners per month as of late last year and said in January it aimed to get up to 10 a month as early as next year.', 'Boeing is set to report quarterly results and will likely detail its production plans before the market opens on Wednesday.']",0.1277970121336743,"The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.","""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.",0.1885810613632202,"The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.","""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.",2024-04-25
-UK borrowing casts doubt on pre-election tax cut prospects,https://www.bbc.co.uk/news/business-68874849,2024-04-23T06:30:18.000Z,"Higher than expected government borrowing has reduced the scope for pre-election tax cuts, analysts say. Government borrowing - the difference between spending and tax income - was £120.7bn in the year to March, the Office for National Statistics said. While this was lower than the previous year, it was £6.6bn more than the government's forecaster had predicted. The government cut National Insurance in March and there has been talk it could trim taxes again in the autumn.  However, Ruth Gregory, deputy chief UK economist at Capital Economics, said: ""If the chancellor was hoping March's figures would provide more scope for tax cuts at a fiscal event later this year, he will have been disappointed."" In addition to the higher borrowing, she noted that government interest payments could be larger than expected given that interest rates are no longer forecast to fall as quickly as previously hoped. This would reduce the headroom for the government to meet its self-imposed spending rules.  Cara Pacitti, senior economist at the Resolution Foundation, the think tank focused on lower income households, said that the latest figures suggested there were ""no signs of extra wriggle room"" for any pre-election Budget.  The government's independent forecasting body, the Office for Budget Responsibility (OBR), had predicted that borrowing over the year would be £114.1bn. A general election has to be held before the end of January 2025, and there has been speculation the government will try to cut taxes again later this year before voters head to the polling stations. Last week, Chancellor Jeremy Hunt told the Financial Times that he would like to cut taxes in the autumn ""if we can"". The chancellor reduced National Insurance by 2p in the pound in the spring Budget following a 2p cut announced in last year's Autumn Statement. The OBR estimated that each cut will cost the government nearly £10bn. Rob Wood, chief UK economist at Pantheon Macroeconomics, said he still expected the chancellor to cut taxes again before an election. However, he added that the next government would ""face a tricky choice between raising taxes to fix creaking public services or holding the line on the chancellor's recent tax cuts"". ""We suspect whoever the next government is will end up pushing through at least some tax rises to balance the books."" Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""But with public sector income up £66bn, overall, the deficit still fell,"" she said. The ONS also noted that these are the initial estimates of public sector finances for last financial year, and figures will be revised over the coming months. Borrowing in March alone was £11.9bn, which was £4.7bn less than a year earlier but still higher than analysts had expected. Total debt - which is the overall amount of money owed by the government that has built up over years - was £2.7 trillion at the end of March.  That is the equivalent of 98.3% of the size of the UK's economy as measured by gross domestic product (GDP), remaining at levels last seen in the early 1960s, the ONS said. A Treasury spokesman said: ""Debt increased in recent years because we rightly protected millions of jobs during Covid and paid half of people's energy bills after Putin's invasion of Ukraine sent bills skyrocketing."" He added that the government ""must stick to the plan to get debt falling"". Liberal Democrat Treasury spokesperson Sarah Olney MP said: ""Years of Conservative chaos has left Britain with spiralling taxes and mortgages, all whilst borrowing remains out of control. This is another damning blow for the Conservative government's economic credibility."" ",BBC,23/04/2024,"['Higher than expected government borrowing has reduced the scope for pre-election tax cuts, analysts say.', 'Government borrowing - the difference between spending and tax income - was £120.7bn in the year to March, the Office for National Statistics said.', ""While this was lower than the previous year, it was £6.6bn more than the government's forecaster had predicted."", 'The government cut National Insurance in March and there has been talk it could trim taxes again in the autumn.', 'However, Ruth Gregory, deputy chief UK economist at Capital Economics, said: ""If the chancellor was hoping March\'s figures would provide more scope for tax cuts at a fiscal event later this year, he will have been disappointed.""', 'In addition to the higher borrowing, she noted that government interest payments could be larger than expected given that interest rates are no longer forecast to fall as quickly as previously hoped.', 'This would reduce the headroom for the government to meet its self-imposed spending rules.', 'Cara Pacitti, senior economist at the Resolution Foundation, the think tank focused on lower income households, said that the latest figures suggested there were ""no signs of extra wriggle room"" for any pre-election Budget.', ""The government's independent forecasting body, the Office for Budget Responsibility (OBR), had predicted that borrowing over the year would be £114.1bn."", 'A general election has to be held before the end of January 2025, and there has been speculation the government will try to cut taxes again later this year before voters head to the polling stations.', 'Last week, Chancellor Jeremy Hunt told the Financial Times that he would like to cut taxes in the autumn ""if we can"".', ""The chancellor reduced National Insurance by 2p in the pound in the spring Budget following a 2p cut announced in last year's Autumn Statement."", 'The OBR estimated that each cut will cost the government nearly £10bn.', 'Rob Wood, chief UK economist at Pantheon Macroeconomics, said he still expected the chancellor to cut taxes again before an election.', 'However, he added that the next government would ""face a tricky choice between raising taxes to fix creaking public services or holding the line on the chancellor\'s recent tax cuts"". ""', 'We suspect whoever the next government is will end up pushing through at least some tax rises to balance the books.""', 'Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""', 'But with public sector income up £66bn, overall, the deficit still fell,"" she said.', 'The ONS also noted that these are the initial estimates of public sector finances for last financial year, and figures will be revised over the coming months.', 'Borrowing in March alone was £11.9bn, which was £4.7bn less than a year earlier but still higher than analysts had expected.', 'Total debt - which is the overall amount of money owed by the government that has built up over years - was £2.7 trillion at the end of March.', ""That is the equivalent of 98.3% of the size of the UK's economy as measured by gross domestic product (GDP), remaining at levels last seen in the early 1960s, the ONS said."", 'A Treasury spokesman said: ""Debt increased in recent years because we rightly protected millions of jobs during Covid and paid half of people\'s energy bills after Putin\'s invasion of Ukraine sent bills skyrocketing.""', 'He added that the government ""must stick to the plan to get debt falling"".', 'Liberal Democrat Treasury spokesperson Sarah Olney MP said: ""Years of Conservative chaos has left Britain with spiralling taxes and mortgages, all whilst borrowing remains out of control.', 'This is another damning blow for the Conservative government\'s economic credibility.""']",-0.1578781836081239,"Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""","Rob Wood, chief UK economist at Pantheon Macroeconomics, said he still expected the chancellor to cut taxes again before an election.",-0.1157142929732799,"Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""","While this was lower than the previous year, it was £6.6bn more than the government's forecaster had predicted.",2024-04-25
-"Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour",https://www.cnbc.com/2024/04/22/delta-air-lines-gives-staff-another-5percent-raise-hikes-starting-wages.html,2024-04-22T16:44:57+0000,"In this articleDelta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season.The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others. It does not apply to pilots, who are unionized and ratified a contract last year for big pay increases after stagnant wages during the Covid-19 pandemic. The Association of Flight Attendants-CWA launched a unionization campaign of Delta's cabin crew in late 2019.Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022. With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.",CNBC,22/04/2024,"[""In this articleDelta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season."", 'The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others.', 'It does not apply to pilots, who are unionized and ratified a contract last year for big pay increases after stagnant wages during the Covid-19 pandemic.', ""The Association of Flight Attendants-CWA launched a unionization campaignof Delta's cabin crew in late 2019.Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022."", 'With the new raises, starting pay at Delta\'s mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.']",0.2194925260706897,"With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.",,0.9956348538398744,"With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.",,2024-04-25
-Meta’s stock plunges 15% on ‘aggressive’ AI spending plans,https://edition.cnn.com/2024/04/25/investing/meta-stock-plunges-ai-spending/index.html,"
-  Updated
-        10:21 AM EDT, Thu April 25, 2024
-    ","Shares in Meta plunged Thursday, as the Facebook owner’s plans to “invest aggressively” in artificial intelligence spooked investors.
-    
-            The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value. The selloff, which started in after-hours trade Wednesday, came as investors looked beyond bumper first-quarter earnings to focus on the huge costs to the company of building an AI future.
-    
-            Meta (META) is competing head-to-head with Microsoft and Google to unlock the enormous potential of AI. While the payoffs could be huge, the company’s most recent earnings underscored that building the best tools is costly and will take time.
-    
-            Meta, which also owns WhatsApp and Instagram, said Wednesday that first-quarter profit more than doubled year-on-year, while revenue was up 27%. But an increase of as much as $5 billion in projected AI investments — and the likelihood of further increases in subsequent years — made shareholders uneasy.
-    
-            “The language around spending plans has become bolder once more, and this could be what’s spooking markets,” Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, wrote in a note Thursday.
-    
-            “For all Meta’s bold AI plans, it can’t afford to take its eye off the nucleus of the business — its core advertising activities… Meta’s resources are vast but not infinite, and its digital advertising market share needs defending at all costs,” she added.
-    
-            Meta said full-year capital expenditure would be in the range of $35-40 billion — up from previous guidance of $30-37 billion — as it continues to accelerate infrastructure investments to support AI.
-    
-            “We expect capital expenditures will continue to increase next year as we invest aggressively to support our ambitious AI research and product development efforts,” the company added in a statement.
-    
-            On a call with investors, CEO Mark Zuckerberg focused most of his comments on AI. He said Meta wants to be “the leading AI company in the world” and “should invest significantly more over the coming years to build even more advanced models.”
-    
-            Meta would increase spending “meaningfully before we make much revenue from some of these new products… On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively,” he added.
-    
-            Weaker than expected guidance for the current quarter may also be weighing on the stock. Meta has forecast revenue of $36.5-39 billion, versus analyst expectations of $38.2 billion.
-    
-            “A slightly lower revenue forecast than anticipated contributed to investor concerns about the company’s future performance,” said Stephen Innes, managing partner at SPI Asset Management.
-    
-            Analysts at JP Morgan on Thursday cut their December 2024 price target for the stock to $480 from $580.
-    
-            This article has been updated after the market opened.",CNN,25/04/2024,"['Shares in Meta plunged Thursday, as the Facebook owner’s plans to “invest aggressively” in artificial intelligence spooked investors.', 'The stock fell as much as 15% to $421.40 when the Nasdaq opened, wiping $183 billion off its market value.', 'The selloff, which started in after-hours trade Wednesday, came as investors looked beyond bumper first-quarter earnings to focus on the huge costs to the company of building an AI future.', 'Meta (META) is competing head-to-head with Microsoft and Google to unlock the enormous potential of AI.', 'While the payoffs could be huge, the company’s most recent earnings underscored that building the best tools is costly and will take time.', 'Meta, which also owns WhatsApp and Instagram, said Wednesday that first-quarter profit more than doubled year-on-year, while revenue was up 27%.', 'But an increase of as much as $5 billion in projected AI investments — and the likelihood of further increases in subsequent years — made shareholders uneasy.', '“The language around spending plans has become bolder once more, and this could be what’s spooking markets,” Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, wrote in a note Thursday.', '“For all Meta’s bold AI plans, it can’t afford to take its eye off the nucleus of the business — its core advertising activities… Meta’s resources are vast but not infinite, and its digital advertising market share needs defending at all costs,” she added.', 'Meta said full-year capital expenditure would be in the range of $35-40 billion — up from previous guidance of $30-37 billion — as it continues to accelerate infrastructure investments to support AI.', '“We expect capital expenditures will continue to increase next year as we invest aggressively to support our ambitious AI research and product development efforts,” the company added in a statement.', 'On a call with investors, CEO Mark Zuckerberg focused most of his comments on AI.', 'He said Meta wants to be “the leading AI company in the world” and “should invest significantly more over the coming years to build even more advanced models.”', 'Meta would increase spending “meaningfully before we make much revenue from some of these new products… On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively,” he added.', 'Weaker than expected guidance for the current quarter may also be weighing on the stock.', 'Meta has forecast revenue of $36.5-39 billion, versus analyst expectations of $38.2 billion.', '“A slightly lower revenue forecast than anticipated contributed to investor concerns about the company’s future performance,” said Stephen Innes, managing partner at SPI Asset Management.', 'Analysts at JP Morgan on Thursday cut their December 2024 price target for the stock to $480 from $580.', 'This article has been updated after the market opened.']",0.2877649915309583,"Meta would increase spending “meaningfully before we make much revenue from some of these new products… On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively,” he added.",Weaker than expected guidance for the current quarter may also be weighing on the stock.,-0.1991748531659444,"Meta would increase spending “meaningfully before we make much revenue from some of these new products… On the upside, once our new AI services reach scale, we have a strong track record of monetizing them effectively,” he added.","“A slightly lower revenue forecast than anticipated contributed to investor concerns about the company’s future performance,” said Stephen Innes, managing partner at SPI Asset Management.",2024-04-25
-E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV,https://www.cnbc.com/2024/04/23/ew-scripps-exploring-sale-of-black-culture-broadcast-network-bounce-tv.html,2024-04-23T20:06:23+0000,"In this articleE.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell. Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview. If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.E.W. Scripps trades for about $3.70 per share at a market valuation of roughly $315 million. The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.Symson declined to comment on the names of the bidders or the potential price for Bounce TV. People familiar with the process said a deal could happen around mid-year or the third quarter.""The number of inbounds and conversations that we have had with interested and qualified potential suitors has picked up significantly over the last year,"" Symson said. ""The earlier BET process, which was never consummated, may have opened up people's eyes to the power of Bounce.""Some advertising agencies and big brands earmark some spending specifically for minority-controlled businesses, Symson said, which can increase the value of media assets if they're sold from conglomerates to Black owners. He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators.Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications.Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content. All content is geared to African American audiences. Bounce TV's ""Johnson,"" a dramedy created by Deji LaRay, is entering its fourth season. The network is also launching a new comedy series, ""Mind Your Business,"" that premieres June 1.Ratings for Bounce TV have improved in recent years, even as legacy media has struggled. In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said. About 70% of Bounce TV's audience is over the air. The other 30% is derived through pay TV and streaming, he said.While Symson declined to give specifics about Bounce TV's finances, he said the company has doubled the network's revenue since acquiring it as part of the takeover of Katz Networks for $302 million in 2017.  Scripps operates a portfolio of more than 60 stations in more than 40 U.S. markets.",CNBC,23/04/2024,"['In this articleE.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.', 'The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell.', 'Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview.', 'If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.', 'E.W. Scripps trades for about $3.70 per share at a market valuation of roughly $315 million.', 'The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.', 'Symson declined to comment on the names of the bidders or the potential price for Bounce TV.', 'People familiar with the process said a deal could happen around mid-year or the third quarter.', '""The number of inbounds and conversations that we have had with interested and qualified potential suitors has picked up significantly over the last year,"" Symson said. ""', ""The earlier BET process, which was never consummated, may have opened up people's eyes to the power of Bounce."", '""Some advertising agencies and big brands earmark some spending specifically for minority-controlled businesses, Symson said, which can increase the value of media assets if they\'re sold from conglomerates to Black owners.', 'He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators.', 'Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications.', 'Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content.', 'All content is geared to African American audiences.', 'Bounce TV\'s ""Johnson,"" a dramedy created by Deji LaRay, is entering its fourth season.', 'The network is also launching a new comedy series, ""Mind Your Business,"" that premieres June 1.Ratings for Bounce TV have improved in recent years, even as legacy media has struggled.', 'In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said.', ""About 70% of Bounce TV's audience is over the air."", 'The other 30% is derived through pay TV and streaming, he said.', ""While Symson declined to give specifics about Bounce TV's finances, he said the company has doubled the network's revenue since acquiring it as part of the takeover of Katz Networks for $302 million in 2017."", 'Scripps operates a portfolio of more than 60 stations in more than 40 U.S. markets.']",0.2397046910172554,"Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview.",,0.6905460804700851,"In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said.",The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.,2024-04-25
-JetBlue shares tumble nearly 19% after airline lowers 2024 revenue outlook,https://www.cnbc.com/2024/04/23/jetblue-jblu-lowers-2024-revenue-outlook.html,2024-04-23T20:07:59+0000,"In this articleJetBlue Airways shares tumbled more than 18% Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected. New York-JetBlue forecast full-year sales would drop in the low single digits, also below Wall Street expectations, after estimating flat sales for the year in its January report.JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.""As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,"" Joanna Geraghty, who became CEO in February, said in an earnings release. ""We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again.""JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes.""It's definitely a big hinderance,"" Geraghty told CNBC of the engine issue. ""Pratt's a good partner. We're focused on trying to make progress on compensation with them. We're not where we need to be. ... But that is ultimately what is depressing our growth.""Geraghty said the airline expects lower capacity next year.In an investor presentation Tuesday, the airline said it was ""actively exploring"" more cost cuts. JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue's President, Marty St. George, who returned to the airline earlier this year.— CNBC's Phil LeBeau contributed to this report.",CNBC,23/04/2024,"['In this articleJetBlue Airways shares tumbled more than 18% Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.', 'The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected.', 'New York-JetBlue forecast full-year sales would drop in the low single digits, also below Wall Street expectations, after estimating flat sales for the year in its January report.', 'JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats.', 'The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.', 'The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.', '""As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue\'s network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,"" Joanna Geraghty, who became CEO in February, said in an earnings release. ""', 'We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again.', '""JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes.', '""It\'s definitely a big hinderance,"" Geraghty told CNBC of the engine issue. ""', ""Pratt's a good partner."", ""We're focused on trying to make progress on compensation with them."", ""We're not where we need to be. ..."", 'But that is ultimately what is depressing our growth.', '""Geraghty said the airline expects lower capacity next year.', 'In an investor presentation Tuesday, the airline said it was ""actively exploring"" more cost cuts.', 'JetBlue earlier this year said it woulddefer $2.5 billion in aircraft spendinguntil the end of the year.', 'In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.', 'Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.', 'Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue\'s President, Marty St. George, who returned to the airline earlier this year.—', ""CNBC's Phil LeBeau contributed to this report.""]",0.1087231275982441,"The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.","In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.",-0.245643176138401,"Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue's President, Marty St. George, who returned to the airline earlier this year.—","Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.",2024-04-25
-Chipotle posts big earnings beat as diners shake off higher prices,https://www.cnbc.com/2024/04/24/chipotle-mexican-grill-cmg-q1-2024-earnings.html,2024-04-24T22:10:02+0000,"In this articleChipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants.The stock rose 4% in extended trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Chipotle reported first-quarter net income of $359.3 million, or $13.01 per share, up from $291.6 million, or $10.50 per share, a year earlier.Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.Net sales climbed 14.1% to $2.7 billion.The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%. Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%.In February, Chief Financial Officer Jack Hartung told analysts that ""unusually cold weather"" hurt January sales. But demand rebounded in the rest of the quarter to offset the sluggish first month.Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices. The company once again raised its prices in October, citing inflation. Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.CEO Brian Niccol said the company saw traffic growth across income groups during the quarter. He credited the chain's value perception among diners. Previously, executives have also emphasized that most of its customers come from higher-income brackets.Earlier this month, Chipotle raised prices in California roughly 7% to offset the state's higher minimum wage for fast-food workers, but the company does not have plans for any more hikes, Niccol said on CNBC's ""Closing Bell"" on Wednesday.Chipotle has also been focusing on making its burritos and bowls more quickly, improving the industry metric known as throughput. Niccol said throughput reached its highest level in four years during the first quarter.The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.For the full year, Chipotle now anticipates same-store sales will grow by a mid-to-high single-digit percentage, up from its prior range of a mid-single-digit increase. The company reiterated its forecast of 285 to 315 new locations in 2024.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history. The company is seeking shareholder approval at its annual meeting on June 6. If investors vote ""yes,"" the stock will start trading on a post-split basis on June 26.",CNBC,24/04/2024,"[""In this articleChipotle Mexican Grill on Wednesday reported quarterlyearningsand revenue that beat analysts' expectations, fueled by higher traffic to its restaurants."", 'The stock rose 4% in extended trading.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Chipotle reported first-quarter net income of $359.3 million, or $13.01 per share, up from $291.6 million, or $10.50 per share, a year earlier."", 'Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.', 'Net salesclimbed14.1% to $2.7 billion.', ""The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%."", 'Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%.In February, Chief Financial Officer Jack Hartung told analysts that ""unusually cold weather"" hurt January sales.', 'But demand rebounded in the rest of the quarter to offset the sluggish first month.', 'Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices.', 'The company once again raised its prices in October, citing inflation.', 'Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.', 'CEO Brian Niccol said the company saw traffic growth across income groups during the quarter.', ""He credited the chain's value perception among diners."", 'Previously, executives have also emphasized that most of its customers come from higher-income brackets.', 'Earlier this month, Chipotle raised prices in California roughly 7% to offset the state\'s higher minimum wage for fast-food workers, but the company does not have plans for any more hikes, Niccol said on CNBC\'s ""Closing Bell"" on Wednesday.', 'Chipotle has also been focusing on making its burritos and bowls more quickly, improving the industry metric known as throughput.', 'Niccol said throughput reached its highest level in four years during the first quarter.', 'The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.', 'For the full year, Chipotle now anticipates same-store sales will grow by a mid-to-high single-digit percentage, up from its prior range of a mid-single-digit increase.', ""The company reiterated its forecast of 285 to 315 new locations in 2024.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history."", 'The company is seeking shareholder approval at its annual meeting on June 6.', 'If investors vote ""yes,"" the stock will start trading on a post-split basis on June 26.']",0.1267962532755779,He credited the chain's value perception among diners.,But demand rebounded in the rest of the quarter to offset the sluggish first month.,0.852291489348692,"The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%.",Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices.,2024-04-25
-Real Bedford's owner says the town can support a Premier League club,https://www.bbc.co.uk/news/articles/c89zp045drxo,2024-04-20T05:10:01.223Z,"The Bitcoin podcast owner of a non-league football club has said a county town where it is based can ""support a team in the Premier League"". Peter McCormack, who comes from Bedford, said ""patience"" was needed to get ""Real Bedford"" into the top flight.  He took over Bedford FC in 2021 and on Tuesday secured a second successive promotion and will compete in the Southern League Division One Central next season, which is the eighth tier of the English football league pyramid. He said with plans for Universal Studios to open a theme park in the area, the town ""is only going to get bigger"".  Mr McCormack said the club was ""relentless about success"" and ""we're trying to build a club for the football league"". He said he was trying to do ""something different"" and create  an international brand.  ""We're seen as the Bitcoin club and if you're a Bitcoiner anywhere in the world you will be aware of our club,"" he said. He said because of that it has access to sponsors, including Gemini founders Cameron and Tyler Winklevoss, who have just invested $4.5m (about £3.6m) into the club, to become co-owners. ""Everything is on track... having them as co-owners is a gift to the town,"" he said. ""Our ambition is big; we want to approach this professionally, do it right and that means investing in the club."" He said it was making a profit and has two audiences - people in Bedford who ""want to support a team and are excited by the project""  The other is its US fanbase, which he said was 60-70% of the total, who are able to watch live coverage on streaming services. The club's McMullen Park ground, just off the A421 near Cardington and right next to Bedford Town's ground, is owned by Bedford Borough Council and the lease runs out in two years.  Mr McCormack said he was negotiating an extension, but the long-term plan was to move ""somewhere bigger"". On X he said: ""We're a Bedford team and will only play football in the town.""  Attendance was also increasing.  When he took over in 2021, he said 30-40 watched a game, last season the average was 180, this season it was nearer to 250 on average, but at Tuesday's game the crowd was more than 1,000. ""Bedford [Borough] has a population of 174,000 people. Burnley, in the Premier League, has a population of 90,000,"" he said. ""Add to the fact Universal is coming here, Bedford is only going to get bigger.  ""There's going to be more people here, the town can support a team in the Premier League. ""It needs financial backing and it needs a team that can make it happen. We've got the team and the financial backing - now it's just patience."" He said his goal was to get into the Football League within a decade and ""Cameron and Tyler want us in the Premier League"". Follow East of England news on Facebook, Instagram and X. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830 ",BBC,20/04/2024,"['The Bitcoin podcast owner of a non-league football club has said a county town where it is based can ""support a team in the Premier League"".', 'Peter McCormack, who comes from Bedford, said ""patience"" was needed to get ""Real Bedford"" into the top flight.', 'He took over Bedford FC in 2021 and on Tuesday secured a second successive promotion and will compete in the Southern League Division One Central next season, which is the eighth tier of the English football league pyramid.', 'He said with plans for Universal Studios to open a theme park in the area, the town ""is only going to get bigger"".', 'Mr McCormack said the club was ""relentless about success"" and ""we\'re trying to build a club for the football league"".', 'He said he was trying to do ""something different"" and create an international brand. ""', 'We\'re seen as the Bitcoin club and if you\'re a Bitcoiner anywhere in the world you will be aware of our club,"" he said.', 'He said because of that it has access to sponsors, including Gemini founders Cameron and Tyler Winklevoss, who have just invested $4.5m (about £3.6m) into the club, to become co-owners. ""', 'Everything is on track... having them as co-owners is a gift to the town,"" he said. ""', 'Our ambition is big; we want to approach this professionally, do it right and that means investing in the club.""', 'He said it was making a profit and has two audiences - people in Bedford who ""want to support a team and are excited by the project"" The other is its US fanbase, which he said was 60-70% of the total, who are able to watch live coverage on streaming services.', ""The club's McMullen Park ground, just off the A421 near Cardington and right next to Bedford Town's ground, is owned by Bedford Borough Council and the lease runs out in two years."", 'Mr McCormack said he was negotiating an extension, but the long-term plan was to move ""somewhere bigger"".', 'On X he said: ""We\'re a Bedford team and will only play football in the town.""', 'Attendance was also increasing.', 'When he took over in 2021, he said 30-40 watched a game, last season the average was 180, this season it was nearer to 250 on average, but at Tuesday\'s game the crowd was more than 1,000. ""', 'Bedford [Borough] has a population of 174,000 people.', 'Burnley, in the Premier League, has a population of 90,000,"" he said. ""', 'Add to the fact Universal is coming here, Bedford is only going to get bigger. ""', 'There\'s going to be more people here, the town can support a team in the Premier League. ""', 'It needs financial backing and it needs a team that can make it happen.', 'We\'ve got the team and the financial backing - now it\'s just patience.""', 'He said his goal was to get into the Football League within a decade and ""Cameron and Tyler want us in the Premier League"".', 'Follow East of England news on Facebook, Instagram and X. Got a story?', 'Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830']",0.1703385968710653,"He said it was making a profit and has two audiences - people in Bedford who ""want to support a team and are excited by the project"" The other is its US fanbase, which he said was 60-70% of the total, who are able to watch live coverage on streaming services.",,0.983183217048645,Attendance was also increasing.,,2024-04-25
-NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html,"
-  Published
-        8:05 AM EDT, Tue March 26, 2024
-    ","Cesar Conde has a decision to make — and it’s not an especially difficult one.
-    
-            The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.
-    
-            Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.
-    
-            Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.
-    
-            While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing.
-    
-            It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.
-    
-            As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.
-    
-            The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)
-    
-            But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.
-    
-            Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.
-    
-            At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this?
-    
-            The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.
-    
-            But no such announcement came.
-    
-            Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.
-    
-            All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is.
-    
-            In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.
-    
-            “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.”
-    
-            “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-04-25
-"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html,"
-  Updated
-        8:16 AM EDT, Wed March 27, 2024
-    ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours.
-    
-            On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”
-    
-            “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”
-    
-            Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.
-    
-            “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.
-    
-            In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.
-    
-            Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”
-    
-            “Has Cesar lost the room?” wondered a third media executive.
-    
-            While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.
-    
-            “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.
-    
-            Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.”
-    
-            Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.
-    
-            Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.
-    
-            NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports.
-    
-            While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.
-    
-            “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-04-25
-"Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis",https://www.cnbc.com/2024/04/24/boeing-ba-earnings-q1-2024.html,2024-04-24T19:00:54+0000,"In this articleBoeing on Wednesday reported a better-than-expected quarter but continued to burn cash as it tries to stabilize production following a near-catastrophic door blowout on a 737 Max earlier this year.Boeing burned through $3.9 billion in the first quarter, beating a previous company forecast and Wall Street analysts' expectations for a cash burn of as much as $4.5 billion for the three-month period.""Near term, yes, we are in a tough moment,"" CEO Dave Calhoun, who announced in March that he would step down by year-end, said in a note to employees Wednesday. ""Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else. We are absolutely committed to doing everything we can to make certain our regulators, customers, employees, and the flying public are 100 percent confident in Boeing.""Boeing has been hamstrung in ramping up production, especially of its bestselling 737 Max planes, and instead has lowered output. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing production. The FAA also said it found numerous issues of noncompliance along Boeing's supply chain and on Feb. 28, gave Boeing 90 days to come up with a quality control improvement plan.Calhoun reiterated Wednesday that the company's 737 Max production has dropped below 38 Max jets per month and the company said the rate would stay there for at least through the first half of the year. Deliveries have slowed sharply this quarter. Boeing earlier this week told staff that it expects slower production increases and deliveries of its 787 Dreamliners because of parts shortages.Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes.The company will have a ""sizable use of cash"" in the second quarter too, said CFO Brian West on an earnings call Wednesday.Ratings agency Moody's on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. ""As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.""Boeing lost $355 million in the first quarter, or 56 cents a share, down from a $425 million, or 69 cent per-share, loss a year earlier. Excluding one-time items, including pension costs, The company lost $388 million, or $1.13 a share.Revenue fell 8% to $16.57 million, slightly ahead of analysts' estimates.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Calhoun on Wednesday stood by the company's goal of $10 billion in annual free cash flow in the 2025-2026 period, but said hitting that target would likely be delayed by about six months.""I believe it, I just do,"" Calhoun said of the $10 billion goal.Boeing has been scrambling to reduce what is known as ""traveled work,"" when manufacturing steps occur out of order because of defects. Calhoun told CNBC in an interview Wednesday that the company's fuselage maker Spirit AeroSystems will ""only ship a conforming fuselage.""Boeing has been in talks to buy back Spirit, which it spun off almost 20 years ago. The Wichita, Kansas-based company also supplies Airbus, and conversations around how to address non-Boeing customers are key to an acquisition deal.Calhoun said it is ""more than likely"" that the companies reach a deal during the second quarter.""Spirit, in working with its other customers, is taking actions to ensure that all of those relationships are what they need to be,"" he told CNBC. ""We're going to be patient and let them get their job done with their respective customers and we'll get a deal done.""— CNBC's Phil Lebeau contributed to this report.",CNBC,24/04/2024,"['In this articleBoeing on Wednesday reported a better-than-expected quarter but continued to burn cash as it tries to stabilize production following a near-catastrophic door blowout on a 737 Max earlier this year.', ""Boeing burned through $3.9 billion in the first quarter, beating a previous company forecast and Wall Street analysts' expectations for a cash burn of as much as $4.5 billion for the three-month period."", '""Near term, yes, we are in a tough moment,"" CEO Dave Calhoun, who announced in March that he would step down by year-end, said in a note to employees Wednesday. ""', 'Lower deliveries can be difficult for our customers and for our financials.', 'But safety and quality must and will come above all else.', 'We are absolutely committed to doing everything we can to make certain our regulators, customers, employees, and the flying public are 100 percent confident in Boeing.', '""Boeing has been hamstrung in ramping up production, especially of its bestselling 737 Max planes, and instead has lowered output.', 'After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing production.', ""The FAA also said it found numerous issues of noncompliance along Boeing's supply chain and on Feb. 28, gave Boeing 90 days to come up with a quality control improvement plan."", ""Calhoun reiterated Wednesday that the company's 737 Max production has dropped below 38 Max jets per month and the companysaid the rate would stay there for at least through the first half of the year."", 'Deliveries have slowed sharply this quarter.', 'Boeing earlier this week told staff that it expects slower production increases and deliveries of its 787 Dreamliners because of parts shortages.', ""Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes."", 'The company will have a ""sizable use of cash"" in the second quarter too, said CFO Brian West on an earnings call Wednesday.', 'Ratings agency Moody\'s on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. ""', ""As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve."", '""Boeing lost $355 million in the first quarter, or 56 cents a share, down from a $425 million, or 69 cent per-share, loss a year earlier.', 'Excluding one-time items, including pension costs, The company lost $388 million, or $1.13 a share.', ""Revenue fell 8% to $16.57 million, slightly ahead of analysts' estimates."", ""Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Calhoun on Wednesday stood by the company's goal of $10 billion in annual free cash flow in the 2025-2026 period, but said hitting that target would likely be delayed by about six months."", '""I believe it, I just do,"" Calhoun said of the $10 billion goal.', 'Boeing has been scrambling to reduce what is known as ""traveled work,"" when manufacturing steps occur out of order because of defects.', 'Calhoun told CNBC in an interview Wednesday that the company\'s fuselage maker Spirit AeroSystems will ""only ship a conforming fuselage.', '""Boeing has been in talks to buy back Spirit, which it spun off almost 20 years ago.', 'The Wichita, Kansas-based company also supplies Airbus, and conversations around how to address non-Boeing customers are key to an acquisition deal.', 'Calhoun said it is ""more than likely"" that the companies reach a deal during the second quarter.', '""Spirit, in working with its other customers, is taking actions to ensure that all of those relationships are what they need to be,"" he told CNBC. ""', 'We\'re going to be patient and let them get their job done with their respective customers and we\'ll get a deal done.""—', ""CNBC's Phil Lebeau contributed to this report.""]",0.0101127055458851,"As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.","Ratings agency Moody's on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. """,-0.3083933472633361,"As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.","Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes.",2024-04-25
-"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html,"
-  Published
-        1:53 PM EDT, Fri March 22, 2024
-    ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election.
-    
-            “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff.
-    
-            McDaniel exited the RNC earlier this month after leading the organization since 2016.
-    
-            During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.
-    
-            McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks.
-    
-            In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”
-    
-            “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked.
-    
-            McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”
-    
-            An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.
-    
-            In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.
-    
-            McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.”
-    
-            The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online.
-    
-            In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.
-    
-            “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.”
-    
-            In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election.
-    
-            “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.”
-    
-            NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.
-    
-            Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny.
-    
-            MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.”', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-04-25
-Train strikes announced for May Bank Holiday week,https://www.bbc.co.uk/news/business-68874928,2024-04-22T11:52:12.000Z,"Rail passengers are being warned of disruption during the week of the May Bank Holiday after drivers announced more strikes and an overtime ban. Staff at 16 train companies will take part in rolling one-day walkouts between 7 and 9 May over pay and working conditions. An overtime ban will also take place between 6 and 11 May.  Passengers are advised to check before they travel, with the action likely to lead to delays and cancellations. The Bank Holiday falls on 6 May this year.  Aslef, the train drivers' union, said it is seeking better pay for its members and claimed drivers are being asked to sacrifice working conditions in exchange for a wage increase. Drivers from several train companies will strike on different days. A spokesperson for the Rail Delivery Group, the body that negotiates on behalf of the rail companies, said: ""This wholly unnecessary strike action called by the Aslef leadership will sadly disrupt customers and businesses once again, while further damaging the railway at a time when taxpayers are continuing to contribute an extra £54m a week just to keep services running. ""We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn't taking more than its fair share from taxpayers."" Mick Whelan, Aslef's general secretary, said: ""It is now a year since we sat in a room with the train companies - and a year since we rejected the risible offer they made and which they admitted, privately, was designed to be rejected."" Little progress has been made in solving the row between Aslef and the rail companies since the union first started striking in July 2022.  The most recent pay deal was rejected almost a year ago in April 2023. The offer included 4% pay rises for two years in a row, on condition that drivers would accept industry-wide changes to training, and negotiate changes to work patterns at individual operators. The last series of train strikes took place during the first and second weeks of April. However, a London Underground drivers' strike scheduled for Monday 8 April and Saturday 4 May was called off. A spokesperson for Aslef said at the time that ""key issues"" had been ""successfully resolved"" in the London Underground dispute ""without the need for strikes"". The train drivers' dispute is stuck on repeat. And passengers are left in the middle of a standoff with no current end in sight. Each time a new strike is announced, the government insists the offer which Aslef's committee rejected a year ago should be put to members in a vote.  Ministers and the industry group which does the negotiating say any deal has to be fair to be taxpayers, who put billions in subsidies into the railway every year.  Aslef argues those proposals, especially with strings attached to a pay rise, were never going to be acceptable to its members. It thinks a better offer should be put forward.  The government wants to cut costs and the industry argues proposed changes would also increase reliability. But from Aslef's perspective, members are being asked to give up too much by way of terms and conditions, for the pay rise that's on offer.  Train drivers have kept voting for more industrial action. So, the strikes keep coming.  It is difficult to see a resolution coming before the general election. And whoever's in government after that, it's not clear what they would do differently to end the dispute. ",BBC,22/04/2024,"['Rail passengers are being warned of disruption during the week of the May Bank Holiday after drivers announced more strikes and an overtime ban.', 'Staff at 16 train companies will take part in rolling one-day walkouts between 7 and 9 May over pay and working conditions.', 'An overtime ban will also take place between 6 and 11 May.', 'Passengers are advised to check before they travel, with the action likely to lead to delays and cancellations.', 'The Bank Holiday falls on 6 May this year.', ""Aslef, the train drivers' union, said it is seeking better pay for its members and claimed drivers are being asked to sacrifice working conditions in exchange for a wage increase."", 'Drivers from several train companies will strike on different days.', 'A spokesperson for the Rail Delivery Group, the body that negotiates on behalf of the rail companies, said: ""This wholly unnecessary strike action called by the Aslef leadership will sadly disrupt customers and businesses once again, while further damaging the railway at a time when taxpayers are continuing to contribute an extra £54m a week just to keep services running. ""', 'We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn\'t taking more than its fair share from taxpayers.""', 'Mick Whelan, Aslef\'s general secretary, said: ""It is now a year since we sat in a room with the train companies - and a year since we rejected the risible offer they made and which they admitted, privately, was designed to be rejected.""', 'Little progress has been made in solving the row between Aslef and the rail companies since the union first started striking in July 2022.', 'The most recent pay deal was rejected almost a year ago in April 2023.', 'The offer included 4% pay rises for two years in a row, on condition that drivers would accept industry-wide changes to training, and negotiate changes to work patterns at individual operators.', 'The last series of train strikes took place during the first and second weeks of April.', ""However, a London Underground drivers' strike scheduled for Monday 8 April and Saturday 4 May was called off."", 'A spokesperson for Aslef said at the time that ""key issues"" had been ""successfully resolved"" in the London Underground dispute ""without the need for strikes"".', ""The train drivers' dispute is stuck on repeat."", 'And passengers are left in the middle of a standoff with no current end in sight.', ""Each time a new strike is announced, the government insists the offer which Aslef's committee rejected a year ago should be put to members in a vote."", 'Ministers and the industry group which does the negotiating say any deal has to be fair to be taxpayers, who put billions in subsidies into the railway every year.', 'Aslef argues those proposals, especially with strings attached to a pay rise, were never going to be acceptable to its members.', 'It thinks a better offer should be put forward.', 'The government wants to cut costs and the industry argues proposed changes would also increase reliability.', ""But from Aslef's perspective, members are being asked to give up too much by way of terms and conditions, for the pay rise that's on offer."", 'Train drivers have kept voting for more industrial action.', 'So, the strikes keep coming.', 'It is difficult to see a resolution coming before the general election.', ""And whoever's in government after that, it's not clear what they would do differently to end the dispute.""]",-0.1527995177908832,"We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn't taking more than its fair share from taxpayers.""",Rail passengers are being warned of disruption during the week of the May Bank Holiday after drivers announced more strikes and an overtime ban.,-0.0512210401621731,"We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn't taking more than its fair share from taxpayers.""","A spokesperson for the Rail Delivery Group, the body that negotiates on behalf of the rail companies, said: ""This wholly unnecessary strike action called by the Aslef leadership will sadly disrupt customers and businesses once again, while further damaging the railway at a time when taxpayers are continuing to contribute an extra £54m a week just to keep services running. """,2024-04-25
-Post Office boss Nick Read obsessed with pay says ex-HR chief,https://www.bbc.co.uk/news/business-68883821,2024-04-23T20:13:38.000Z,"Post Office boss Nick Read was ""obsessed with his pay"" and made threats to resign over the issue, the firm's former HR director has claimed. When Jane Davies didn't manage to get him a pay increase above 5%, Mr Read started a ""deliberate campaign to defame and ostracise"" her, she said. But the Post Office said a report last week had ""fully exonerated"" Mr Read. It added that claims made by Ms Davies and ex-chair Henry Staunton had been ""discredited"". The revelations are the latest in an ongoing disagreement between Ms Davies and Mr Staunton on one hand, and the Post Office and the government on the other. They are separate from the Post Office Horizon scandal, but the dispute was made public in hearings about compensation for sub-postmasters. Last week, Mr Read was cleared of all misconduct allegations following an investigation carried out by an external barrister, the results of which have not been published.  Mr Staunton revealed the existence of the investigation during a Business and Trade committee hearing on 27 February. He claimed that Nick Read had considered leaving his role on several occasions and was unhappy with his pay. At the time the Post Office said that Mr Read had never tendered his resignation. But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay. Mr Read had a request for a pay increase in November 2022 turned down by then business secretary Grant Shapps, after two similar requests ""backed up in each case by threats to resign"" were turned down in the preceding year. ""I noted a board member saying to me: 'Nick had cried wolf at least 3 times',"" Ms Davies wrote. She said there were more than 30 email or Microsoft Teams exchanges in December and January 2023 concerning Mr Read's pay, one of which asked ""can the business afford to be rudderless""? In January 2023 Mr Read was ""prepared to submit a formal grievance and or make a claim for constructive dismissal"" after leaving, Ms Davies said. Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out of the Horizon scandal and declining revenues. His salary for 2022-23 stood at £573,000, including bonuses. The year before, he earned £816,000, of which £415,000 was salary and the rest bonus. This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry. In the year 2020-21, he did not get a bonus, and was paid £415,000. Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower. However, the average award for FTSE 100 bosses stands at £3.81m per year. Ms Davies said Mr Read was ""obsessed with his pay, to such an extent that it was a huge distraction from me establishing myself in my new position and performing the duties that were set out in my job description"". She said he was offered a 5% pay rise but found it ""insulting"". ""As a result, he regarded me a failure for not getting the remuneration increase,"" she said. ""What followed was a deliberate campaign to defame and ostracise me,"" she said. She added that a bullying complaint had been made about Mr Read, not Mr Staunton. Ms Davies also accused the Post Office of ""dragging their heels"" and ""misinterpreting"" her complaint which became the basis of the misconduct investigation into Mr Read. She said the Post Office had tried to present her complaint as being about other people, including Henry Staunton, when it was actually ""concerned with Nick Read, and Nick Read alone"". ""The fact the POL [Post Office] has ignored my attempts to set the record straight and persisted with its own distorted interpretation (and has indeed privately warned me using the word ""misrepresentation"" in this context) does not give me confidence in the integrity of this investigation"", Ms Davies said.  She added that ""it feels to me that POL have deliberately widened the scope of their investigation to suit another agenda"". Ms Davies added she was not issued with the terms of reference for the investigation despite giving it her full cooperation and travelling hundreds of miles to meet with the investigator. A letter to the committee from Mr Staunton was also published on Tuesday in which he said the complaint by Ms Davies had been ""directed at Nick Read and Nick Read alone"", rather than Mr Staunton. However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"". Following the conclusion of her investigation last week, barrister Marianne Tutin of Devereux Chambers said she was able to approach her inquiry independently in a ""fair, thorough and proportionate"" manner.  ""I was...not placed under any pressure as to what to investigate, or not to investigate, or what findings of fact or recommendations should, or should not, be made,"" she said. Jane Davies has declined to comment.  ",BBC,23/04/2024,"['Post Office boss Nick Read was ""obsessed with his pay"" and made threats to resign over the issue, the firm\'s former HR director has claimed.', 'When Jane Davies didn\'t manage to get him a pay increase above 5%, Mr Read started a ""deliberate campaign to defame and ostracise"" her, she said.', 'But the Post Office said a report last week had ""fully exonerated"" Mr Read.', 'It added that claims made by Ms Davies and ex-chair Henry Staunton had been ""discredited"".', 'The revelations are the latest in an ongoing disagreement between Ms Davies and Mr Staunton on one hand, and the Post Office and the government on the other.', 'They are separate from the Post Office Horizon scandal, but the dispute was made public in hearings about compensation for sub-postmasters.', 'Last week, Mr Read was cleared of all misconduct allegations following an investigation carried out by an external barrister, the results of which have not been published.', 'Mr Staunton revealed the existence of the investigation during a Business and Trade committee hearing on 27 February.', 'He claimed that Nick Read had considered leaving his role on several occasions and was unhappy with his pay.', 'At the time the Post Office said that Mr Read had never tendered his resignation.', 'But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay.', 'Mr Read had a request for a pay increase in November 2022 turned down by then business secretary Grant Shapps, after two similar requests ""backed up in each case by threats to resign"" were turned down in the preceding year. ""', 'I noted a board member saying to me: \'Nick had cried wolf at least 3 times\',"" Ms Davies wrote.', 'She said there were more than 30 email or Microsoft Teams exchanges in December and January 2023 concerning Mr Read\'s pay, one of which asked ""can the business afford to be rudderless""?', 'In January 2023 Mr Read was ""prepared to submit a formal grievance and or make a claim for constructive dismissal"" after leaving, Ms Davies said.', 'Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out of the Horizon scandal and declining revenues.', 'His salary for 2022-23 stood at £573,000, including bonuses.', 'The year before, he earned £816,000, of which £415,000 was salary and the rest bonus.', ""This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry."", 'In the year 2020-21, he did not get a bonus, and was paid £415,000.', 'Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.', 'However, the average award for FTSE 100 bosses stands at £3.81m per year.', 'Ms Davies said Mr Read was ""obsessed with his pay, to such an extent that it was a huge distraction from me establishing myself in my new position and performing the duties that were set out in my job description"".', 'She said he was offered a 5% pay rise but found it ""insulting"". ""', 'As a result, he regarded me a failure for not getting the remuneration increase,"" she said. ""', 'What followed was a deliberate campaign to defame and ostracise me,"" she said.', 'She added that a bullying complaint had been made about Mr Read, not Mr Staunton.', 'Ms Davies also accused the Post Office of ""dragging their heels"" and ""misinterpreting"" her complaint which became the basis of the misconduct investigation into Mr Read.', 'She said the Post Office had tried to present her complaint as being about other people, including Henry Staunton, when it was actually ""concerned with Nick Read, and Nick Read alone"". ""', 'The fact the POL [Post Office] has ignored my attempts to set the record straight and persisted with its own distorted interpretation (and has indeed privately warned me using the word ""misrepresentation"" in this context) does not give me confidence in the integrity of this investigation"", Ms Davies said.', 'She added that ""it feels to me that POL have deliberately widened the scope of their investigation to suit another agenda"".', 'Ms Davies added she was not issued with the terms of reference for the investigation despite giving it her full cooperation and travelling hundreds of miles to meet with the investigator.', 'A letter to the committee from Mr Staunton was also published on Tuesday in which he said the complaint by Ms Davies had been ""directed at Nick Read and Nick Read alone"", rather than Mr Staunton.', 'However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"".', 'Following the conclusion of her investigation last week, barrister Marianne Tutin of Devereux Chambers said she was able to approach her inquiry independently in a ""fair, thorough and proportionate"" manner. ""', 'I was...not placed under any pressure as to what to investigate, or not to investigate, or what findings of fact or recommendations should, or should not, be made,"" she said.', 'Jane Davies has declined to comment.']",-0.1599557913312917,"This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry.","But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay.",-0.525249604667936,"However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"".","Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.",2024-04-25
-Whatever happened to the two-door car?,https://edition.cnn.com/2024/04/20/business/two-door-car-curious-consumer/index.html,"
-  Published
-        10:30 AM EDT, Sat April 20, 2024
-    ","During the 1990s, a certain type of American car that had existed for decades became virtually extinct. Big, inefficient, not very practical but strikingly showy and handsome, they still evoke a certain period of over-the-top American style.
-    
-            These were cars like the Chrysler Cordoba with its “Corinthian leather” seats — roll those Rs like Ricardo Montalbán in the ads — the Buick Riviera, the Cadillac Eldorado and the Oldsmobile Toronado. (Spanish-sounding names were big, too.) Driving one of these “personal luxury cars” made a statement about your superior taste and, also, your carefree lifestyle not requiring the mundane practicality of back doors.
-    
-            There are still two-door cars today, of course, but they’re almost all high-performance sports cars not intended for comfortable cruising. But the forty- and fifty-year-old “personal luxury coupés” can command higher prices from car collectors than their four-door peers, evidence of their continued allure.
-    
-            “I think the term started in the 60s,” Brian Rabold with the collector car company Hagerty, said of so-called personal luxury coupés. “But that was the heyday in the 70s. There were still some offerings, but they sort of started to decline in the in the 80s and 90s.”
-    
-            Long, low and stylish, they were the design and technology showpieces for their respective car brands. In 1986, the Riviera offered the first touchscreen in a production car, according to GM. Car companies could do that because these cars sold in lower numbers, even then, than four-door models.
-    
-            “Because you had lower volumes you could afford to put in higher technology,” said Kevin Kirbitz, a former GM engineer who’s now head of the company’s heritage collection. “You commanded a premium price anyway.”
-    
-            Over the years, these cars left their mark. Even today, one of these big two-door American models has a certain allure at a car show. With its long hood, ample chrome and two massive doors allowing awkward access to often reasonably-sized – once you manage to get in there – back seats, they still make a statement.
-    
-            For car designers, two-door models can offer more striking proportions to play with, long hoods that evoke power and tapered, aerodynamic back ends.
-    
-            “They can get a more raked windshield,” said Kirbitz. “They can get that longer proportion that they’re looking for.”
-    
-            Many models were offered with either a two- or four-door body. Today, the two-door is generally worth about 67% more to modern car collectors, attesting to the style’s appeal. Of course, someone buying a 50-year-old car is also probably even less concerned with practicality than shoppers were back in the day, Rabold pointed out.
-    
-            Two-door cars have existed for about as long as cars have had doors but Rabold credits the real upsurge in “personal luxury” styling to the Ford Thunderbird. Introduced in 1955 as somewhat of a competitor to the Chevrolet Corvette. The Thunderbird soon went in a different direction. While the Corvette evolved into a serious sports car, Ford designers added back seats and turned the Thunderbird into a comfortable cruiser. The style quickly caught on.
-    
-            “That set the stage and then a lot of cars followed on after that,” Rabold said. “And so every manufacturer kind of had to have an entry to compete with that segment.”
-    
-            Four-door cars were still more common, but a two-door car said something about you, said Scott Krugger, vice president of design for Stellantis’s Dodge division.
-    
-            “As time went on, two-door cars became an individual statement, or a performance statement, or a specialty statement, where the four-door was more of that practicality need, that family need, and they kind of diverged that way,” he said.
-    
-            The run of roomy two-door models lasted a few decades but, by the 1990s, something had changed. Today, it’s rare to see a two-door car that isn’t a performance model like the Mustang or Corvette. Even the cheapest cars on the market, like the Nissan Versa and Kia Rio, come with four doors. Back doors, even on pickups, are just a default today.
-    
-            A number of factors have conspired to push two-door cars to their current niche status. First, the rise of SUVs has pushed cars of all sorts — as in, personal vehicles that are not trucks, vans, or SUVs — to the fringes, regardless of how many doors they have. Today, actual cars make up less than 20% of all new vehicles, according to data from Cox Automotive.
-    
-            Also, child safety regulations have, no doubt, played a major role, said Kirbitz. By the 1980s, child safety seats were required throughout the United States, so the days of kids clambering over the folded front seats to buckle themselves – or not – into the back seats are over.
-    
-            Today, if you have a two-door car and you have kids, you also have a backache. You’ve got to lean awkwardly into the back to buckle the youngsters in and, before that, to install the seat itself.
-    
-            While some two-door cars used to be bargain items — the cheapest entry-level cars were almost always two-door hatchbacks — today, two-door models are seen mostly in European luxury car showrooms.
-    
-            BMW and Audi have two-door models available as both hardtops and convertibles. Mercedes-Benz is just introducing the new CLE Coupe. It keeps a non-sports-car two-door in American Mercedes dealerships because, practical issues aside, there is still a market for it. Some customers still prize style over practicality, said Gorden Wagener, head of design for Mercedes-Benz.
-    
-            “A car is a representation of yourself and your taste,” he said. “And you bring that out more expressively with the coupé, right?”",CNN,20/04/2024,"['During the 1990s, a certain type of American car that had existed for decades became virtually extinct.', 'Big, inefficient, not very practical but strikingly showy and handsome, they still evoke a certain period of over-the-top American style.', 'These were cars like the Chrysler Cordoba with its “Corinthian leather” seats — roll those Rs like Ricardo Montalbán in the ads — the Buick Riviera, the Cadillac Eldorado and the Oldsmobile Toronado. (', 'Spanish-sounding names were big, too.)', 'Driving one of these “personal luxury cars” made a statement about your superior taste and, also, your carefree lifestyle not requiring the mundane practicality of back doors.', 'There are still two-door cars today, of course, but they’re almost all high-performance sports cars not intended for comfortable cruising.', 'But the forty- and fifty-year-old “personal luxury coupés” can command higher prices from car collectors than their four-door peers, evidence of their continued allure.', '“I think the term started in the 60s,” Brian Rabold with the collector car company Hagerty, said of so-called personal luxury coupés. “', 'But that was the heyday in the 70s.', 'There were still some offerings, but they sort of started to decline in the in the 80s and 90s.”', 'Long, low and stylish, they were the design and technology showpieces for their respective car brands.', 'In 1986, the Riviera offered the first touchscreen in a production car, according to GM.', 'Car companies could do that because these cars sold in lower numbers, even then, than four-door models.', '“Because you had lower volumes you could afford to put in higher technology,” said Kevin Kirbitz, a former GM engineer who’s now head of the company’s heritage collection. “', 'You commanded a premium price anyway.”', 'Over the years, these cars left their mark.', 'Even today, one of these big two-door American models has a certain allure at a car show.', 'With its long hood, ample chrome and two massive doors allowing awkward access to often reasonably-sized – once you manage to get in there – back seats, they still make a statement.', 'For car designers, two-door models can offer more striking proportions to play with, long hoods that evoke power and tapered, aerodynamic back ends.', '“They can get a more raked windshield,” said Kirbitz. “', 'They can get that longer proportion that they’re looking for.”', 'Many models were offered with either a two- or four-door body.', 'Today, the two-door is generally worth about 67% more to modern car collectors, attesting to the style’s appeal.', 'Of course, someone buying a 50-year-old car is also probably even less concerned with practicality than shoppers were back in the day, Rabold pointed out.', 'Two-door cars have existed for about as long as cars have had doors but Rabold credits the real upsurge in “personal luxury” styling to the Ford Thunderbird.', 'Introduced in 1955 as somewhat of a competitor to the Chevrolet Corvette.', 'The Thunderbird soon went in a different direction.', 'While the Corvette evolved into a serious sports car, Ford designers added back seats and turned the Thunderbird into a comfortable cruiser.', 'The style quickly caught on.', '“That set the stage and then a lot of cars followed on after that,” Rabold said. “', 'And so every manufacturer kind of had to have an entry to compete with that segment.”', 'Four-door cars were still more common, but a two-door car said something about you, said Scott Krugger, vice president of design for Stellantis’s Dodge division.', '“As time went on, two-door cars became an individual statement, or a performance statement, or a specialty statement, where the four-door was more of that practicality need, that family need, and they kind of diverged that way,” he said.', 'The run of roomy two-door models lasted a few decades but, by the 1990s, something had changed.', 'Today, it’s rare to see a two-door car that isn’t a performance model like the Mustang or Corvette.', 'Even the cheapest cars on the market, like the Nissan Versa and Kia Rio, come with four doors.', 'Back doors, even on pickups, are just a default today.', 'A number of factors have conspired to push two-door cars to their current niche status.', 'First, the rise of SUVs has pushed cars of all sorts — as in, personal vehicles that are not trucks, vans, or SUVs — to the fringes, regardless of how many doors they have.', 'Today, actual cars make up less than 20% of all new vehicles, according to data from Cox Automotive.', 'Also, child safety regulations have, no doubt, played a major role, said Kirbitz.', 'By the 1980s, child safety seats were required throughout the United States, so the days of kids clambering over the folded front seats to buckle themselves – or not – into the back seats are over.', 'Today, if you have a two-door car and you have kids, you also have a backache.', 'You’ve got to lean awkwardly into the back to buckle the youngsters in and, before that, to install the seat itself.', 'While some two-door cars used to be bargain items — the cheapest entry-level cars were almost always two-door hatchbacks — today, two-door models are seen mostly in European luxury car showrooms.', 'BMW and Audi have two-door models available as both hardtops and convertibles.', 'Mercedes-Benz is just introducing the new CLE Coupe.', 'It keeps a non-sports-car two-door in American Mercedes dealerships because, practical issues aside, there is still a market for it.', 'Some customers still prize style over practicality, said Gorden Wagener, head of design for Mercedes-Benz.', '“A car is a representation of yourself and your taste,” he said. “', 'And you bring that out more expressively with the coupé, right?”']",0.1075195629581301,"Big, inefficient, not very practical but strikingly showy and handsome, they still evoke a certain period of over-the-top American style.","There are still two-door cars today, of course, but they’re almost all high-performance sports cars not intended for comfortable cruising.",0.3153740644454956,Two-door cars have existed for about as long as cars have had doors but Rabold credits the real upsurge in “personal luxury” styling to the Ford Thunderbird.,"There were still some offerings, but they sort of started to decline in the in the 80s and 90s.”",2024-04-25
-Brits face biggest obstacles in 70 years to buying a first home,https://edition.cnn.com/2024/04/22/business/uk-home-buyers-most-expensive-70-years/index.html,"
-  Published
-        8:36 AM EDT, Mon April 22, 2024
-    ","Britons hoping to buy their first home face the most difficult conditions in 70 years, according to a new report released Monday.
-    
-            First-time buyers are grappling with the twin challenges of historically high down payments and steep mortgage repayments, whereas many previous generations faced either one or the other, says the study by the Building Societies Association, a trade body whose members account for almost a quarter of all mortgage lending in the United Kingdom.
-    
-            “Becoming a first-time buyer is expensive, possibly the most expensive it has been over at least the last 70 years,” the BSA report says. “During some periods both the cost of buying (down payments) and the cost of owning (mortgage repayments) have been high. This is the situation that many prospective first-time buyers now find themselves in.”
-    
-            The analysis finds that the typical first-time buyer needs to stump up a down payment, or deposit, of around £60,000 ($74,000), rising to £144,000 ($178,000) in London, where “support from family appears almost essential.”
-    
-            Meanwhile, rising mortgage rates have pushed repayments back up toward levels last seen during the period leading up to the global financial crisis, the report says.
-    
-            Would-be buyers have struggled since the start of this century to keep up with surging house prices. According to the Office for National Statistics, average earnings in England and Wales have risen 70% since 2002, while house prices have jumped by 174%.
-    
-            “At a national level, homes were affordable on average… until 2002, and not affordable after,” the ONS said.
-    
-            The average mortgage repayment has rocketed since late 2021 as the Bank of England, along with other major central banks, began jacking up official interest rates to bring down inflation.
-    
-            Then, about a year later, mortgage costs shot up again after then-Prime Minister Liz Truss unveiled her disastrous “mini-budget,” which included billions in unfunded tax cuts, sparking panic among bond traders over the sustainability of the UK’s public finances. (The interest rate on some government bonds is used to set mortgage rates).
-    
-            On Monday, the average rate on a two-year fixed-rate mortgage stood at 5.82%, according to data from product comparison website Moneyfacts. That’s lower than the 15-year high of 6.85% hit in August last year, but still far above the 2.29% rate recorded in November 2021, the month before the Bank of England started raising interest rates.
-    
-            The BSA report, citing data from UK Finance, an association of banks and other financial service providers, says the typical first-time buyer paid 22.5% of their gross monthly income on mortgage repayments in November last year, up from 16.8% in March 2022.
-    
-            The sharply higher repayments are “a big barrier to home ownership,” the report says.
-    
-            As a result, getting onto the housing ladder increasingly requires two higher-than-average incomes as well as support from parents. That has excluded many potential buyers — such as single people and those without financial help from their families — from home ownership, the analysis finds.
-    
-            One of the consequences has been to keep many people “stuck” in private rented accommodation.
-    
-            There, too, residents are being squeezed: Preliminary data from the ONS, published last week, showed that the average rent rose 9.2% in the year to March — the highest annual increase since the body started collecting the data in 2015.
-    
-            “An election is due within the next year and a new government, committed to helping prospective first-time buyers, might start by acknowledging the challenges younger generations face not just in housing but more generally,” the BSA said.",CNN,22/04/2024,"['Britons hoping to buy their first home face the most difficult conditions in 70 years, according to a new report released Monday.', 'First-time buyers are grappling with the twin challenges of historically high down payments and steep mortgage repayments,whereas many previous generations faced either one or the other,says the study by the Building Societies Association, a trade body whose members account for almost a quarter of all mortgage lending in the United Kingdom.', '“Becoming a first-time buyer is expensive, possibly the most expensive it has been over at least the last 70 years,” the BSA report says. “', 'During some periods both the cost of buying (down payments) and the cost of owning (mortgage repayments) have been high.', 'This is the situation that many prospective first-time buyers now find themselves in.”', 'The analysis finds that the typical first-time buyer needs to stump up a down payment, or deposit, of around £60,000 ($74,000),rising to £144,000 ($178,000) in London, where “support from family appears almost essential.”', 'Meanwhile, rising mortgage rates have pushed repayments back up toward levels last seen during the period leading up to the global financial crisis, the report says.', 'Would-be buyers have struggled since the start of this century to keep up with surging house prices.', 'According to the Office for National Statistics, average earnings in England and Wales have risen 70% since 2002, while house prices have jumped by 174%.', '“At a national level, homes were affordable on average… until 2002, and not affordable after,” the ONS said.', 'The average mortgage repayment has rocketed since late 2021 as the Bank of England, along with other major central banks, began jacking up official interest rates to bring down inflation.', 'Then, about a year later, mortgage costs shot up again after then-Prime Minister Liz Truss unveiled her disastrous “mini-budget,” which included billions in unfunded tax cuts,sparking panic among bond traders over the sustainability of the UK’s public finances. (', 'The interest rate on some government bonds is used to set mortgage rates).', 'On Monday, the average rate on a two-year fixed-rate mortgage stood at 5.82%, according to data from product comparison website Moneyfacts.', 'That’s lower than the 15-year high of 6.85% hit in August last year, but still far above the 2.29% rate recorded in November 2021, the month before the Bank of England started raising interest rates.', 'The BSA report, citing data from UK Finance, an association of banks and other financial service providers, says the typical first-time buyer paid 22.5% of their gross monthly income on mortgage repayments in November last year, up from 16.8% in March 2022.', 'The sharply higher repayments are “a big barrier to home ownership,” the report says.', 'As a result, getting onto the housing ladder increasingly requires two higher-than-average incomes as well as support from parents.', 'That has excluded many potential buyers —such as single people and those without financial help from their families —from home ownership, the analysis finds.', 'One of the consequences has been to keep many people “stuck” in private rented accommodation.', 'There, too, residents are being squeezed: Preliminary data from the ONS, published last week, showed that the average rent rose 9.2% in the year to March —the highest annual increase since the body started collecting the data in 2015.', '“An election is due within the next year and a new government, committed to helping prospective first-time buyers, might start by acknowledging the challenges younger generations face not just in housing but more generally,” the BSA said.']",0.0139165883835752,"As a result, getting onto the housing ladder increasingly requires two higher-than-average incomes as well as support from parents.","Then, about a year later, mortgage costs shot up again after then-Prime Minister Liz Truss unveiled her disastrous “mini-budget,” which included billions in unfunded tax cuts,sparking panic among bond traders over the sustainability of the UK’s public finances. (",-0.1975097564550546,"According to the Office for National Statistics, average earnings in England and Wales have risen 70% since 2002, while house prices have jumped by 174%.",Would-be buyers have struggled since the start of this century to keep up with surging house prices.,2024-04-25
-Tiktok vows to fight 'unconstitutional' US ban,https://www.bbc.co.uk/news/articles/c87zp82247yo,2024-04-24T01:50:59.548Z,"TikTok says it will challenge in court an ""unconstitutional"" law that could result in it being sold or banned in the United States. President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to divest the app or it will be blocked in the US. The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. ""We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew. ""The facts, and the Constitution, are on our side... rest assured, we aren't going anywhere."" In a video posted on the platform, he lambasted the bill and called for people to share their stories of how TikTok had improved their lives. ""Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said. In a separate statement TikTok added that it believed ""the facts and the law"" were ""clearly"" on its side. ""The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said. The measure was passed as part of a package of four bills which also included military aid for Ukraine, Israel, Taiwan and other US partners in the Indo-Pacific region. It had widespread support from lawmakers, with 79 Senators voting for it and 18 against. ""For years we've allowed the Chinese Communist party to control one of the most popular apps in America... that was dangerously short-sighted,"" said Senator Marco Rubio, the top Republican on the Intelligence Committee. ""A new law is going to require its Chinese owner to sell the app. This is a good move for America,"" he added. TikTok has said ByteDance ""is not an agent of China or any other country"". ByteDance insists it is not a Chinese firm, pointing to the global investment firms that own 60% of it.  Experts have told the BBC the bill is ""a big deal"" but have warned it faces multiple hurdles. It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process. In November, a U.S. federal judge in Montana blocked an effort to ban TikTok within the state. The popularity of the app with young Americans could also be problematic. “About two in three young people in the US have a TikTok account,"" said Andrew Przybylski, professor of human behaviour and technology at Oxford University. “The primary challenge is going to be on freedom of speech and freedom of expression. ""The UN Charter on the Rights of the Child is quite specific: young people have a right to information and a right to play, so I think it can be challenged on those grounds.” Jennifer Huddleston from the Cato institute, in Washington, said any sale might be delayed because of the “considerable” regulatory scrutiny it would attract. ""Nine months is a rather quick timeframe for this size of a transaction - it's something that is likely to have further regulatory scrutiny even without the requirements in this proposal,"" she said. ""The question remains - what does it mean to even sell TikTok in the US, is that truly possible, and what would a buyer look like?"" Exactly who would be able to buy and operate it is also a big question - the price would likely be in the tens of billions of dollars, meaning there would be few potential buyers. Brooke Erin Duffy, associate professor of communication at Cornell University, said TikTok users in the US had been bracing themselves for a ban ""for quite some time"". ""The Senate decision injects a heightened level of uncertainty into the livelihoods of countless content creators, influencers, and small business owners,"" she said. If it is not sold in time, the app could be blocked in the country - the US says this is because it is concerned TikTok could be used to spy on Americans, or to spread propaganda. TikTok gathers similar kinds of data to other apps, but the US is concerned this data could fall into the hands of the Chinese government - claims the company has always contested. Elsewhere, the firm has agreed to suspend its TikTok Lite rewards programme, which pays users to spend time on the app in France and Spain. European Commissioner Thierry Breton said the feature was ""toxic and addictive"", particularly when used by children, and threatened to block it unless action was taken. The EU said its investigation into the feature would continue. ",BBC,24/04/2024,"['TikTok says it will challenge in court an ""unconstitutional"" law that could result in it being sold or banned in the United States.', ""President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to divest the app or it will be blocked in the US."", 'The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. ""', 'We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew. ""', 'The facts, and the Constitution, are on our side... rest assured, we aren\'t going anywhere.""', 'In a video posted on the platform, he lambasted the bill and called for people to share their stories of how TikTok had improved their lives. ""', 'Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said.', 'In a separate statement TikTok added that it believed ""the facts and the law"" were ""clearly"" on its side. ""', 'The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said.', 'The measure was passed as part of a package of four bills which also included military aid for Ukraine, Israel, Taiwan and other US partners in the Indo-Pacific region.', 'It had widespread support from lawmakers, with 79 Senators voting for it and 18 against. ""', 'For years we\'ve allowed the Chinese Communist party to control one of the most popular apps in America... that was dangerously short-sighted,"" said Senator Marco Rubio, the top Republican on the Intelligence Committee. ""', 'A new law is going to require its Chinese owner to sell the app.', 'This is a good move for America,"" he added.', 'TikTok has said ByteDance ""is not an agent of China or any other country"".', 'ByteDance insists it is not a Chinese firm, pointing to the global investment firms that own 60% of it.', 'Experts have told the BBC the bill is ""a big deal"" but have warned it faces multiple hurdles.', 'It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process.', 'In November, a U.S. federal judge in Montana blocked an effort to ban TikTok within the state.', 'The popularity of the app with young Americans could also be problematic. “', 'About two in three young people in the US have a TikTok account,"" said Andrew Przybylski, professor of human behaviour and technology at Oxford University. “', 'The primary challenge is going to be on freedom of speech and freedom of expression. ""', 'The UN Charter on the Rights of the Child is quite specific: young people have a right to information and a right to play, so I think it can be challenged on those grounds.”', 'Jennifer Huddleston from the Cato institute, in Washington, said any sale might be delayed because of the “considerable” regulatory scrutiny it would attract. ""', 'Nine months is a rather quick timeframe for this size of a transaction - it\'s something that is likely to have further regulatory scrutiny even without the requirements in this proposal,"" she said. ""', 'The question remains - what does it mean to even sell TikTok in the US, is that truly possible, and what would a buyer look like?""', 'Exactly who would be able to buy and operate it is also a big question - the price would likely be in the tens of billions of dollars, meaning there would be few potential buyers.', 'Brooke Erin Duffy, associate professor of communication at Cornell University, said TikTok users in the US had been bracing themselves for a ban ""for quite some time"". ""', 'The Senate decision injects a heightened level of uncertainty into the livelihoods of countless content creators, influencers, and small business owners,"" she said.', 'If it is not sold in time, the app could be blocked in the country - the US says this is because it is concerned TikTok could be used to spy on Americans, or to spread propaganda.', 'TikTok gathers similar kinds of data to other apps, but the US is concerned this data could fall into the hands of the Chinese government - claims the company has always contested.', 'Elsewhere, the firm has agreed to suspend its TikTok Lite rewards programme, which pays users to spend time on the app in France and Spain.', 'European Commissioner Thierry Breton said the feature was ""toxic and addictive"", particularly when used by children, and threatened to block it unless action was taken.', 'The EU said its investigation into the feature would continue.']",0.0616827327069505,"The primary challenge is going to be on freedom of speech and freedom of expression. ""","Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said.",-0.2037454201624943,"This is a good move for America,"" he added.",The popularity of the app with young Americans could also be problematic. “,2024-04-25
-"How much money is the UK government borrowing, and does it matter?",https://www.bbc.co.uk/news/business-50504151,2019-11-21T15:27:10.000Z,"The government generally spends more than it raises in tax. To fill this gap it borrows money, but that has to be paid back - with interest - and that can influence wider tax and spending plans.  The government gets most of its income from taxes. For example, workers pay income tax, everyone pays VAT on certain goods, and companies pay tax on their profits. It could, in theory, cover all of its spending from taxes, and in some years that happens. But if it can't, it will cover the gap by raising taxes, cutting spending or borrowing. Higher taxes mean people have less money to spend, so businesses make less profit, which can be bad for jobs and wages. Lower profits also mean companies pay less tax. So, governments often borrow to boost the economy. They also borrow to pay for big projects - such as new railways and roads - which they hope will help the economy. The government borrows money by selling financial products called bonds. A bond is a promise to pay money in the future. Most require the borrower to make regular interest payments over the bond's lifetime.  UK government bonds - known as ""gilts"" - are normally considered very safe, with little risk the money will not be repaid. Gilts are mainly bought by financial institutions in the UK and abroad, such as pension funds, investment funds, banks and insurance companies.  The Bank of England has also bought hundreds of billions of pounds' worth of government bonds in the past to support the economy, through a process called ""quantitative easing"". The amount the government borrows varies from month to month.  For instance, when people submit tax returns in January, they often pay a large chunk of their annual tax bill in one go, so the government sees a jump in the amount of money it takes in.  So it is more helpful to look at the whole year, or the year-to-date. In the year to March, the government borrowed £120.7bn. While it was lower than the previous year, it was £6.6bn more than the government's forecaster predicted. Borrowing in March alone stood at £11.9bn, which was £4.7bn less than a year earlier. The total amount the government owes is called the national debt. It is currently about £2.7 trillion. That is roughly the same as the value of all the goods and services produced in the UK in a year, known as the gross domestic product, or GDP. That current level is more than double what was seen from the 1980s through to the financial crisis of 2008.  The combination of the financial crash and the Covid pandemic pushed the UK's debt up from those historic lows to its current level. But in relation to the size of the economy, UK debt figures are still low compared with much of the last century, and also compared with some other leading economies. The larger the national debt gets, the more interest the government has to pay.  That extra cost was not as big when the interest rates due were low through the 2010s, but it is more noticeable now that interest rates have been rising. Around a quarter of UK debt is index-linked, meaning payments are directly linked to the rate of inflation. Rising prices in the last two years have pushed up the bill for servicing debt significantly. If the government has to set aside more cash for paying its debts, it may mean it has less to spend on the public services which it borrowed to fund in the first place.  The amount of interest the government pays on national debt fluctuates, and by one measure, hit a 20-year high in early October 2023. The most significant figures tracking the cost of debt are published monthly by the Office for National Statistics (ONS). According to this data, two months in 2022 saw record levels of money set aside for debt interest: £20.2bn in June and £18bn in December.  June 2023 saw the third largest monthly amount - £13.1bn. The most recent figure for March revealed interest on government debt was £2.5bn.  Chancellor Jeremy Hunt has previously said the government will take ""difficult but responsible"" decisions on the public finances. He previously blamed the ""twin global emergencies of a pandemic and Putin's war in Ukraine"" for driving up government costs. The chancellor has set a target of getting underlying debt to fall in five years' time. In the Budget in March, the chancellor said the government was on track to meet the debt target. The government's official economic forecaster, the Office for Budget Responsibility (OBR) predicted that debt will fall as a share of the economy to 92.9% in 2028-29. Prime Minister Rishi Sunak has made reducing the national debt one of his five key promises and government finances will be a key focus in the run-up to a General Election. Some economists fear the government is borrowing too much, at too great a cost. Others argue extra borrowing helps the economy grow faster - generating more tax revenue in the long run. With measures such as a cut in National Insurance announced at the March Budget, the OBR expects borrowing to rise slightly in the next financial year, before remaining in line with previous forecasts.  It would fall below 3% of GDP by 2025-26, meeting one of the financial rules the government has decided to set itself.  But the OBR has previously warned that public debt could soar as the population ages and tax income falls. In an ageing population, the proportion of people of working age drops, meaning the government takes less in tax while paying out more in pensions.  In its latest forecasts in March, the OBR said debt, measured against the size of the economy, is still set to rise over the next four years, before falling back marginally in the fifth year. Other economists argue that big economies like the UK could borrow much more than they currently do, and the negative impact is greatly exaggerated. The deficit is the gap between the government's income and the amount it spends. When a government spends less than its income, it has what is known as a surplus.  Debt is the total amount of money owed by the government that has built up over years.  It rises when there is a deficit, and falls in those years when there is a surplus.   ",BBC,21/11/2019,"['The government generally spends more than it raises in tax.', 'To fill this gap it borrows money, but that has to be paid back - with interest - and that can influence wider tax and spending plans.', 'The government gets most of its income from taxes.', 'For example, workers pay income tax, everyone pays VAT on certain goods, and companies pay tax on their profits.', 'It could, in theory, cover all of its spending from taxes, and in some years that happens.', ""But if it can't, it will cover the gap by raising taxes, cutting spending or borrowing."", 'Higher taxes mean people have less money to spend, so businesses make less profit, which can be bad for jobs and wages.', 'Lower profits also mean companies pay less tax.', 'So, governments often borrow to boost the economy.', 'They also borrow to pay for big projects - such as new railways and roads - which they hope will help the economy.', 'The government borrows money by selling financial products called bonds.', 'A bond is a promise to pay money in the future.', ""Most require the borrower to make regular interest payments over the bond's lifetime."", 'UK government bonds - known as ""gilts"" - are normally considered very safe, with little risk the money will not be repaid.', 'Gilts are mainly bought by financial institutions in the UK and abroad, such as pension funds, investment funds, banks and insurance companies.', 'The Bank of England has also bought hundreds of billions of pounds\' worth of government bonds in the past to support the economy, through a process called ""quantitative easing"".', 'The amount the government borrows varies from month to month.', 'For instance, when people submit tax returns in January, they often pay a large chunk of their annual tax bill in one go, so the government sees a jump in the amount of money it takes in.', 'So it is more helpful to look at the whole year, or the year-to-date.', 'In the year to March, the government borrowed £120.7bn.', ""While it was lower than the previous year, it was £6.6bn more than the government's forecaster predicted."", 'Borrowing in March alone stood at £11.9bn, which was £4.7bn less than a year earlier.', 'The total amount the government owes is called the national debt.', 'It is currently about £2.7 trillion.', 'That is roughly the same as the value of all the goods and services produced in the UK in a year, known as the gross domestic product, or GDP.', 'That current level is more than double what was seen from the 1980s through to the financial crisis of 2008.', ""The combination of the financial crash and the Covid pandemic pushed the UK's debt up from those historic lows to its current level."", 'But in relation to the size of the economy, UK debt figures are still low compared with much of the last century, and also compared with some other leading economies.', 'The larger the national debt gets, the more interest the government has to pay.', 'That extra cost was not as big when the interest rates due were low through the 2010s, but it is more noticeable now that interest rates have been rising.', 'Around a quarter of UK debt is index-linked, meaning payments are directly linked to the rate of inflation.', 'Rising prices in the last two years have pushed up the bill for servicing debt significantly.', 'If the government has to set aside more cash for paying its debts, it may mean it has less to spend on the public services which it borrowed to fund in the first place.', 'The amount of interest the government pays on national debt fluctuates, and by one measure, hit a 20-year high in early October 2023.', 'The most significant figures tracking the cost of debt are published monthly by the Office for National Statistics (ONS).', 'According to this data, two months in 2022 saw record levels of money set aside for debt interest: £20.2bn in June and £18bn in December.', 'June 2023 saw the third largest monthly amount - £13.1bn.', 'The most recent figure for March revealed interest on government debt was £2.5bn.', 'Chancellor Jeremy Hunt has previously said the government will take ""difficult but responsible"" decisions on the public finances.', 'He previously blamed the ""twin global emergencies of a pandemic and Putin\'s war in Ukraine"" for driving up government costs.', ""The chancellor has set a target of getting underlying debt to fall in five years' time."", 'In the Budget in March, the chancellor said the government was on track to meet the debt target.', ""The government's official economic forecaster, the Office for Budget Responsibility (OBR) predicted that debt will fall as a share of the economy to 92.9% in 2028-29."", 'Prime Minister Rishi Sunak has made reducing the national debt one of his five key promises and government finances will be a key focus in the run-up to a General Election.', 'Some economists fear the government is borrowing too much, at too great a cost.', 'Others argue extra borrowing helps the economy grow faster - generating more tax revenue in the long run.', 'With measures such as a cut in National Insurance announced at the March Budget, the OBR expects borrowing to rise slightly in the next financial year, before remaining in line with previous forecasts.', 'It would fall below 3% of GDP by 2025-26, meeting one of the financial rules the government has decided to set itself.', 'But the OBR has previously warned that public debt could soar as the population ages and tax income falls.', 'In an ageing population, the proportion of people of working age drops, meaning the government takes less in tax while paying out more in pensions.', 'In its latest forecasts in March, the OBR said debt, measured against the size of the economy, is still set to rise over the next four years, before falling back marginally in the fifth year.', 'Other economists argue that big economies like the UK could borrow much more than they currently do, and the negative impact is greatly exaggerated.', ""The deficit is the gap between the government's income and the amount it spends."", 'When a government spends less than its income, it has what is known as a surplus.', 'Debt is the total amount of money owed by the government that has built up over years.', 'It rises when there is a deficit, and falls in those years when there is a surplus.']",-0.0570329207085568,"The Bank of England has also bought hundreds of billions of pounds' worth of government bonds in the past to support the economy, through a process called ""quantitative easing"".","He previously blamed the ""twin global emergencies of a pandemic and Putin's war in Ukraine"" for driving up government costs.",0.017290283526693,"For instance, when people submit tax returns in January, they often pay a large chunk of their annual tax bill in one go, so the government sees a jump in the amount of money it takes in.","While it was lower than the previous year, it was £6.6bn more than the government's forecaster predicted.",2024-04-25
-"Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand",https://www.cnbc.com/2024/04/22/express-files-for-bankruptcy-plans-to-close-nearly-100-stores.html,2024-04-22T21:47:14+0000,"In this articleLongtime mall retailer Express filed for Chapter 11 bankruptcy protection in Delaware federal court on Monday, but a group of investors led by brand management firm WHP Global is looking to save the company by acquiring it. Express, whose portfolio includes its namesake banner, Bonobos and UpWest, said it will close 95 of its eponymous shops and all of its UpWest doors. As of last January, the company had 553 total stores, according to company securities filings. It's not clear how many of those were UpWest stores, but the brand's website shows that it has 10 locations.Closing sales are expected to begin Tuesday. The company said hours for remaining stores won't change and it will continue to accept orders and returns as usual.In a news release, Express said it filed for bankruptcy to ""facilitate"" a sale process of most of its retail stores and operations to the investor group, which includes WHP, Simon Property Group and Brookfield Properties. It received a nonbinding letter of intent from the investors to buy the assets, and has also secured $35 million in new financing from some of its existing lenders, subject to court approval. ""The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company's stakeholders,"" Express said. Express also secured $49 million in cash from the IRS related to the CARES Act – a critical influx of liquidity that the company had been waiting on to shore up its balance sheet. ""We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,"" CEO Stewart Glendinning said in a statement. ""We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives,"" he added.The business casual apparel brand, founded in 1980 by Les Wexner's Limited Brands, has seen sales plummet over the last few years as debt and costly mall leases dragged down its business. In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.Earlier this month, CNBC reported that Express was struggling to pay its vendors on time, indicating it was in financial distress and struggling to manage cash flows. When retailers can't pay their vendors, suppliers sometimes tighten payment terms or refuse to fulfill orders, which can further pressure a company's liquidity.Last spring, Express acquired Bonobos' operating assets and related liabilities for $25 million from Walmart in a joint deal with WHP. The deal came as Express' ""core business was weak, and cash was tight,"" GlobalData managing director Neil Saunders said in a Monday note.Still, its biggest problem was declining revenue, which has fallen by about 10% since 2019, Saunders said. ""This stands in marked contrast to an apparel sector that has grown strongly over the same period. This has put the company under a lot of financial strain and has resulted in some significant losses. None of this is sustainable which is one of the reasons for bankruptcy,"" said Saunders.  ""The woes at Express are not all of its own making,"" he said. ""The formal and smart casual market for both men and women has softened over recent years because of a rise from working from home and the casualization of fashion. This puts Express firmly on the wrong side of trends and, in our view, the chain made too little effort to adapt.""Bankruptcy will provide some key relief to Express and help it get back on stronger footing as it works to implement its turnaround strategy. It'll allow the retailer to get out of costly and burdensome leases, many of which are in struggling malls, and has made the company more attractive to buyers. Powerhouse law firm Kirkland & Ellis, which led Bed Bath & Beyond and many other failed retailers through their bankruptcies, is serving as Express' legal counsel. Moelis & Co. has been tapped as its investment banker and M3 Partners has signed on as its financial advisor.",CNBC,22/04/2024,"['In this articleLongtime mall retailer Express filed for Chapter 11 bankruptcy protection in Delaware federal court on Monday, but a group of investors led by brand management firm WHP Global is looking to save the company by acquiring it.', 'Express, whose portfolio includes its namesake banner, Bonobos and UpWest, said it will close 95 of its eponymous shops and all of its UpWest doors.', 'As of last January, the company had 553 total stores, according to company securities filings.', ""It's not clear how many of those were UpWest stores, but the brand's website shows that it has 10 locations."", 'Closing sales are expected to begin Tuesday.', ""The company said hours for remaining stores won't change and it will continue to accept orders and returns as usual."", 'In a news release, Express said it filed for bankruptcy to ""facilitate"" a sale process of most of itsretail stores and operations to the investor group, which includes WHP, Simon Property Group and Brookfield Properties.', 'It received a nonbinding letter of intent from the investors to buy the assets, and has also secured $35 million in new financing from some of its existing lenders, subject to court approval.', '""The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company\'s stakeholders,"" Express said.', 'Express also secured $49 million in cash from the IRS related to the CARES Act – a critical influx of liquidity that the company had been waiting on to shore up its balance sheet.', '""We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,"" CEO Stewart Glendinning said in a statement.', '""We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives,"" he added.', ""The business casual apparel brand, founded in 1980 by Les Wexner's Limited Brands, has seen sales plummet over the last few years as debt and costly mall leases dragged down its business."", 'In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.Earlier this month, CNBC reported that Express was struggling to pay its vendors on time, indicating it was in financial distress and struggling to manage cash flows.', ""When retailers can't pay their vendors, suppliers sometimes tighten payment terms or refuse to fulfill orders, which can further pressure a company's liquidity."", ""Last spring, Express acquired Bonobos' operating assets and related liabilities for $25 million from Walmart in a joint deal with WHP."", 'The deal came as Express\' ""core business was weak, and cash was tight,"" GlobalData managing director Neil Saunders said in a Monday note.', 'Still, its biggest problem was declining revenue, which has fallen by about 10% since 2019, Saunders said.', '""This stands in marked contrast to an apparel sector that has grown strongly over the same period.', 'This has put the company under a lot of financial strain and has resulted in some significant losses.', 'None of this is sustainable which is one of the reasons for bankruptcy,"" said Saunders.', '""The woes at Express are not all of its own making,"" he said. ""', 'The formal and smart casual market for both men and women has softened over recent years because of a rise from working from home and the casualization of fashion.', 'This puts Express firmly on the wrong side of trends and, in our view, the chain made too little effort to adapt.', '""Bankruptcy will provide some key relief to Express and help it get back on stronger footing as it works to implement its turnaround strategy.', ""It'll allow the retailer to get out of costly and burdensome leases, many of which are in struggling malls, and has made the company more attractive to buyers."", ""Powerhouse law firm Kirkland & Ellis, which led Bed Bath & Beyond and many other failed retailers through their bankruptcies, is serving as Express' legal counsel."", 'Moelis & Co. has been tapped as its investment banker and M3 Partners has signed on as its financial advisor.']",0.0656388570655413,"""The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company's stakeholders,"" Express said.","In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.Earlier this month, CNBC reported that Express was struggling to pay its vendors on time, indicating it was in financial distress and struggling to manage cash flows.",0.0611145741799298,"""We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,"" CEO Stewart Glendinning said in a statement.","The business casual apparel brand, founded in 1980 by Les Wexner's Limited Brands, has seen sales plummet over the last few years as debt and costly mall leases dragged down its business.",2024-04-25
-The clean energy race could trigger the biggest mining deal in decades,https://edition.cnn.com/2024/04/25/business/anglo-american-takeover-bhp-mining/index.html,"
-  Updated
-        12:36 PM EDT, Thu April 25, 2024
-    ","Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record.
-    
-            BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total. If completed, the acquisition would increase BHP’s access to copper reserves, it added.
-    
-            Copper is an essential component in some renewable energy technologies, including solar panels and electric vehicles, as well as in electrical grids. And it is in high demand: The price of the metal on the London Metals Exchange has risen more than 13% so far this year to almost $10,000 a metric ton, its highest level in about two years.
-    
-            “First and foremost” the proposed takeover is about copper, William Tankard, principal analyst of base metals at CRU Group, told CNN.
-    
-            BHP is the world’s second-biggest producer of mined copper, while Anglo American is the ninth-biggest, according to CRU Group analysis. Their combination would attract the scrutiny of competition authorities around the world, Tankard added.
-    
-            If it goes ahead, the BHP-Anglo American deal will be worth more than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data. It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004.
-    
-            Anglo American’s board is “currently reviewing this proposal,” the company said in a statement, adding that there was “no certainty” a formal offer would be made by BHP, or the terms of that potential offer.
-    
-            BHP has until May 22 to make a formal offer.
-    
-            Shares in Anglo American soared as much as 13.8% on the news. By 10.20 a.m. ET, they were trading at £25.10 ($31.35). Shares in BHP closed 0.6% down in Australia.
-    
-            BHP has been looking to bulk up in copper for a while. A year ago, the Melbourne-based company acquired Australian rival Oz Minerals to widen its access to copper and nickel.
-    
-            The Oz buyout was part of BHP’s strategy to “meet increasing demand for the critical minerals needed for electric vehicles, wind turbines and solar panels,” company CEO Mike Henry said in a statement at the time.
-    
-            Tankard at CRU Group called copper “the ubiquitous future-facing commodity.” “Whether we’re talking about EVs or data centers, or general electrification… there’s a common theme, and that theme is copper.”
-    
-            Anglo American is one of the largest companies listed on the London Stock Exchange and the approach by BHP may fuel concerns about an exodus from from the London market.
-    
-            Wael Sawan, the CEO of Shell, told Bloomberg last month that he believed the energy giant’s London listing made the company “undervalued,” drawing comparisons to its much bigger rivals Exxon Mobil and Chevron, both listed in New York.
-    
-            That fuelled speculation that the £186 billion ($232 billion) oil behemoth could ditch London for Wall Street, a switch that would deal a huge blow to Britain’s main stock exchange. Several companies have already moved their primary listings elsewhere or chosen New York for going public in recent years.
-    
-            The offer for Anglo American “will send a fresh chill through the City of London,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, wrote in a note Thursday. “There are concerns that, if the deal goes through, it could be the tip of the iceberg and more giants could leave the exchange.”
-    
-            Correction: An earlier version of this article gave an incorrect ranking for BHP among the world’s biggest producers of mined copper.
-    
-            Rob North contributed reporting. This story has been updated with additional information.",CNN,25/04/2024,"['Mining giant BHP has made a near-$40 billion bid to take over its UK rival Anglo American in what would be the largest mining deal on record.', 'BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total.', 'If completed, the acquisition would increase BHP’s access to copper reserves, it added.', 'Copper is an essential component in some renewable energy technologies, includingsolar panelsandelectric vehicles, as well as in electrical grids.', 'And it is in high demand: The price of the metal on the London Metals Exchange has risen more than 13% so far this year to almost $10,000 a metric ton, its highest level in about two years.', '“First and foremost” the proposed takeover is about copper, William Tankard, principal analyst of base metals at CRU Group, told CNN.', 'BHP is the world’s second-biggest producer of mined copper, while Anglo American is the ninth-biggest, according to CRU Group analysis.', 'Their combination would attract the scrutiny of competition authorities around the world, Tankard added.', 'If it goes ahead, the BHP-Anglo American deal will be worth more than the $38.3 billion acquisition of Switzerland’s Xstrata by commodities company Glencore in 2012, according to Dealogic data.', 'It would also be the biggest merger or acquisition in the mining industry by value since Dealogic began collecting the data in 2004.', 'Anglo American’s board is “currently reviewing this proposal,” the company said in a statement, adding that there was “no certainty” a formal offer would be made by BHP, or the terms of that potential offer.', 'BHP has until May 22 to make a formal offer.', 'Shares in Anglo American soared as much as 13.8% on the news.', 'By 10.20 a.m. ET, they were trading at £25.10 ($31.35).', 'Shares in BHP closed 0.6% down in Australia.', 'BHP has been looking to bulk up in copper for a while.', 'A year ago, the Melbourne-based company acquired Australian rival Oz Minerals to widen its access to copper and nickel.', 'The Oz buyout was part of BHP’s strategy to “meet increasing demand for the critical minerals needed for electric vehicles, wind turbines and solar panels,” company CEO Mike Henry said in astatementat the time.', 'Tankard at CRU Group called copper “the ubiquitous future-facing commodity.” “', 'Whether we’re talking about EVs or data centers, or general electrification… there’s a common theme, and that theme is copper.”', 'Anglo American is one of the largest companies listed on the London Stock Exchange and the approach by BHP may fuel concerns about an exodus from from the London market.', 'Wael Sawan, the CEO of Shell, told Bloomberg last month that he believed the energy giant’s London listing made the company “undervalued,” drawing comparisons to its much bigger rivals Exxon Mobil and Chevron, both listed in New York.', 'That fuelled speculation that the £186 billion ($232 billion) oil behemoth could ditch London for Wall Street, a switch that would deal a huge blow to Britain’s main stock exchange.', 'Several companies have already moved their primary listings elsewhere or chosen New York for going public in recent years.', 'The offer for Anglo American “will send a fresh chill through the City of London,” Susannah Streeter, head of money and markets at Hargreaves Lansdown, wrote in a note Thursday. “', 'There are concerns that, if the deal goes through, it could be the tip of the iceberg and more giants could leave the exchange.”', 'Correction: An earlier version of this article gave an incorrect ranking for BHP among the world’s biggest producers of mined copper.', 'Rob North contributed reporting.', 'This story has been updated with additional information.']",0.089265721004863,"BHP said in a statement Thursday that it valued Anglo American shares at £25.08 ($31.40) apiece, or £31.1 billion ($38.9 billion) in total.",Rob North contributed reporting.,0.1741366465886434,"And it is in high demand: The price of the metal on the London Metals Exchange has risen more than 13% so far this year to almost $10,000 a metric ton, its highest level in about two years.","Wael Sawan, the CEO of Shell, told Bloomberg last month that he believed the energy giant’s London listing made the company “undervalued,” drawing comparisons to its much bigger rivals Exxon Mobil and Chevron, both listed in New York.",2024-04-25
-Ex-JetBlue CEO Robin Hayes to run Airbus North America,https://www.cnbc.com/2024/04/22/ex-jetblue-ceo-robin-hayes-to-run-airbus-north-america-.html,2024-04-22T16:26:34+0000,"Former JetBlue Airways CEO Robin Hayes will run Airbus' North America arm, replacing Jeffrey Knittel, the airplane maker said Monday.Hayes left JetBlue in February after the airline's planned acquisition of Spirit Airlines fell apart following a federal judge's decision to block the deal in an antitrust lawsuit brought by the Justice Department.Hayes, a longtime airline executive who has also held senior leadership roles at British Airways, will start in June. He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama. It has customers including Delta Air Lines, his former employer JetBlue and the carrier's acquisition target Spirit.When Hayes announced his departure from JetBlue in January, he said, ""Extraordinary challenges and pressure of this job have taken their toll, and on the advice of my doctor and after talking to my wife, it's time I put more focus on my health and well-being.""",CNBC,22/04/2024,"[""Former JetBlue Airways CEO Robin Hayes will run Airbus' North America arm, replacing Jeffrey Knittel, the airplane maker said Monday."", ""Hayes left JetBlue in February after the airline's planned acquisition of Spirit Airlines fell apart following a federal judge's decision to block the deal in an antitrust lawsuit brought by the Justice Department."", 'Hayes, a longtime airline executive who has also held senior leadership roles at British Airways, will start in June.', ""He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama."", ""It has customers including Delta Air Lines, his former employer JetBlue and the carrier's acquisition target Spirit."", 'When Hayes announced his departure from JetBlue in January, he said, ""Extraordinary challenges and pressure of this job have taken their toll, and on the advice of my doctor and after talking to my wife, it\'s time I put more focus on my health and well-being.""']",0.0511094918673705,"It has customers including Delta Air Lines, his former employer JetBlue and the carrier's acquisition target Spirit.",,0.0022987723350524,"He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama.","When Hayes announced his departure from JetBlue in January, he said, ""Extraordinary challenges and pressure of this job have taken their toll, and on the advice of my doctor and after talking to my wife, it's time I put more focus on my health and well-being.""",2024-04-25
-Dow falls by 450 points after GDP report,https://edition.cnn.com/2024/04/25/markets/wall-street-reaction-gdp-report/index.html,"
-  Updated
-        1:38 PM EDT, Thu April 25, 2024
-    ","US stocks were lower Thursday afternoon after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.
-    
-            The Dow fell by 441.1 points, or 1.2%; the S&P 500 was down 0.8% and the Nasdaq Composite slid by 1.1%, as investors projected a longer wait for the first rate cut from the Federal Reserve.
-    
-            “This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.
-    
-            Economic growth appears to be floating back down to earth after notching a very strong second half of 2023. GDP grew by 4.9% and 3.4% in the third and fourth quarters of last year.
-    
-            At the same time, Thursday’s data showed that inflation accelerated in the first three months of the year: The annualized GDP chain price, which measures how much prices have gone up or down in the economy, helping to track inflation, jumped from 1.6% up to 3.1%.
-    
-            “The Fed wants to see inflation start coming down in a persistent manner, but the market wants to see economic growth and corporate profits increasing, so if neither are headed in the right direction then that’s going to be bad news for markets,” wrote Zaccarelli.
-    
-            Those sticky inflation rates have pushed investors to slash their expectations for interest rate cuts by the Fed. They’re now anticipating just one cut this year, according to the CME FedWatch tool. That’s down from an expectation for six at the beginning of the year.
-    
-            It’s also brought back fears of stagflation — when the economy stops growing but inflation persists.
-    
-            In a talk at the Economic Club of New York on Tuesday, JPMorgan Chase CEO Jamie Dimon warned investors about a potential period of stagflation.
-    
-            “Stagflation has the negative effect of no growth and inflation. That hurts profits and consumers and jobs. And yes, I think there’s a chance that could happen again,” he said. “I worry that it looks more like the 1970s than we’ve seen before.”
-    
-            Between 1966 and 1981, a period encompassing much of the stagflation era, investors in the US stock market lost more than 35% after adjusting for inflation, according to analysis by Ben Carlson at Ritholtz Wealth Management.
-    
-            Tech stocks also tumbled Thursday as investors worried that a slowing economy could hurt their growth prospects, in an already tense earnings season.
-    
-            Shares of Meta dropped more than 11.4%. Microsoft fell by 3.2% and shares of Amazon were down 2.4%.
-    
-            This is a developing story and will be updated.",CNN,25/04/2024,"['US stocks were lower Thursday afternoon after the latest GDP report showed that US economic growth slowed to 1.6% in the first quarter of the year, a much weaker pace than expected.', 'The Dow fell by 441.1 points, or 1.2%; the S&P 500 was down 0.8% and the Nasdaq Composite slid by 1.1%, as investors projected a longer wait for the first rate cut from the Federal Reserve.', '“This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.', 'Economic growth appears to be floating back down to earth after notching a very strong second half of 2023.', 'GDP grew by 4.9% and 3.4% in the third and fourth quarters of last year.', 'At the same time, Thursday’s data showed that inflation accelerated in the first three months of the year: The annualized GDP chain price, which measures how much prices have gone up or down in the economy, helping to track inflation, jumped from 1.6% up to 3.1%.', '“The Fed wants to see inflation start coming down in a persistent manner, but the market wants to see economic growth and corporate profits increasing, so if neither are headed in the right direction then that’s going to be bad news for markets,” wrote Zaccarelli.', 'Those sticky inflation rates have pushed investors to slash their expectations for interest rate cuts by the Fed.', 'They’re now anticipating just one cut this year, according to the CME FedWatch tool.', 'That’s down from an expectation for six at the beginning of the year.', 'It’s also brought back fears of stagflation — when the economy stops growing but inflation persists.', 'In a talk at the Economic Club of New York on Tuesday, JPMorgan Chase CEO Jamie Dimon warned investors about a potential period of stagflation.', '“Stagflation has the negative effect of no growth and inflation.', 'That hurts profits and consumers and jobs.', 'And yes, I think there’s a chance that could happen again,” he said. “', 'I worry that it looks more like the 1970s than we’ve seen before.”', 'Between 1966 and 1981, a period encompassing much of the stagflation era, investors in the US stock market lost more than 35% after adjusting for inflation, according to analysis by Ben Carlson at Ritholtz Wealth Management.', 'Tech stocks also tumbled Thursday as investors worried that a slowing economy could hurt their growth prospects, in an already tense earnings season.', 'Shares of Meta dropped more than 11.4%.', 'Microsoft fell by 3.2% and shares of Amazon were down 2.4%.', 'This is a developing story and will be updated.']",-0.0102694843980073,Economic growth appears to be floating back down to earth after notching a very strong second half of 2023.,"“This report was the worst of both worlds: economic growth is slowing and inflationary pressures are persisting,” wrote Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in a note Thursday morning.",-0.5410777014844558,"At the same time, Thursday’s data showed that inflation accelerated in the first three months of the year: The annualized GDP chain price, which measures how much prices have gone up or down in the economy, helping to track inflation, jumped from 1.6% up to 3.1%.","Tech stocks also tumbled Thursday as investors worried that a slowing economy could hurt their growth prospects, in an already tense earnings season.",2024-04-25
-Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html,"
-  Published
-        7:14 AM EST, Fri March 1, 2024
-    ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.
-    
-            Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.
-    
-            Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.
-    
-            The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.
-    
-            “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.
-    
-            “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”
-    
-            It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021.
-    
-            Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.
-    
-            Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.
-    
-            Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.
-    
-            The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.
-    
-            Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods.
-    
-            “It’s more about evolution than revolution,” Felton-Thomas explained.
-    
-            “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?”
-    
-            “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”
-    
-            While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports.
-    
-            “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-04-25
-Who could buy TikTok?,https://edition.cnn.com/2024/04/25/tech/who-could-buy-tiktok/index.html,"
-  Published
-        7:00 AM EDT, Thu April 25, 2024
-    ","The clock has begun ticking for TikTok to find a new owner.
-    
-            President Joe Biden signed legislation Wednesday that would ban TikTok in the United States unless its Chinese parent, ByteDance, sells the app. TikTok plans to challenge the law in court, but if it fails, the company would have to find a buyer, and fast.
-    
-            That raises the question of who the US government might view as a suitable new owner of a social media platform with 170 million US users and a rising challenger to legacy social media giants such as Facebook-parent Meta.
-    
-            The prospect of a TikTok sale could lead to a potential feeding frenzy, drawing out everyone from tech companies to retailers and private equity firms and investment bankers.
-    
-            And an added headache for any potential buyer: China’s commerce ministry has previously said it would “firmly oppose” any forced sale of TikTok.
-    
-            There’s no apparent consensus on a favorite bidder yet. But some candidates seem more likely than others, legal experts and business analysts say.
-    
-            Any effort by an established tech giant with a large social media presence would immediately trigger antitrust red flags, according to analysts.
-    
-            Meta is already fighting a Federal Trade Commission lawsuit that alleges its purchase of WhatsApp and Instagram violated US antitrust law, and the FTC is actively seeking to break up the company.
-    
-            Google is also fighting Justice Department antitrust suits on two fronts. These are related to its search and advertising technology businesses, not its ownership of YouTube. Still, the company is under such close scrutiny that it would be a poor candidate to buy TikTok, experts say.
-    
-            “If it’s Amazon, Microsoft, Google or Meta, I just think you’re going to see substantial antitrust concern,” said Gene Kimmelman, a former Justice Department antitrust official. “If you were to say, like, an Intel, or a Cisco, maybe Oracle, I don’t know. If you were to tell me it’s Verizon, or AT&T, maybe it’s not as big of a problem.”
-    
-            Jasmine Enberg, principal analyst at Emarketer, highlighted a paradox: Only the largest, most dominant tech giants may have the resources to buy TikTok. But it may be they who would attract the most regulatory skepticism.
-    
-            “Any potential buyer must have deep pockets and a strong stomach,” Enberg said. “While many would want to get their hands on TikTok’s coveted algorithm, most of those who could afford to buy the app wouldn’t be able to clear antitrust hurdles.”
-    
-            Microsoft recently attracted heaps of antitrust scrutiny when it sought to buy the video game publisher Activision Blizzard in one of the largest tech mergers in history. But it ultimately overcame an FTC lawsuit and placated other international regulators to close the blockbuster deal last fall.
-    
-            Fresh off that success, Microsoft could find itself with a renewed opportunity to strike a deal with TikTok. While Microsoft owns LinkedIn, a social network geared to professionals, it doesn’t have an app like TikTok in its portfolio.
-    
-            Microsoft had been one of the handful of contenders to buy TikTok in 2020 when President Donald Trump first pushed for a sale. The negotiations had also involved Walmart, which said at the time it was partnering with Microsoft on a possible deal.
-    
-            Both companies dropped their efforts after TikTok agreed to work with Oracle on Project Texas, the initiative by TikTok to store US user data on Oracle-owned servers and that was intended to satisfy US national security concerns.
-    
-            Four years later, with TikTok’s future in doubt, so is the fate of Project Texas, and that means those who had previously expressed interest in TikTok may have another shot. And Oracle, too.
-    
-            In a move that caught many by surprise, former Trump Treasury Secretary Steven Mnuchin announced last month that he is putting together a team of investors to buy TikTok.
-    
-            The exact details of Mnuchin’s offer are hazy, though he has reportedly suggested a deal could exclude TikTok’s powerful content algorithm that has formed the basis of its popularity. That might get around Chinese government export restrictions on recommendation algorithms, but would essentially mean buying only TikTok’s brand and leaving its most treasured asset off the table.
-    
-            The unusual pitch has already raised eyebrows: Mnuchin helped lead the Trump administration’s effort to ban TikTok the first time around. Mnuchin has said publicly that that experience gave him a deep understanding of TikTok and how it operates, including the data it collects on users.
-    
-            That Mnuchin may now leverage that inside knowledge for his own potential benefit reflects a conflict of interest, some critics say.
-    
-            It would be a “disgrace if [Mnuchin] was allowed to turn around and use that classified information to further enrich himself and his Saudi buddies,” Oregon Democratic Sen. Ron Wyden told The Washington Post last month.
-    
-            Buying TikTok would also turn Mnuchin into a rival to Trump, who is the chairman and leading shareholder of the company that owns Truth Social, a social media platform where Trump is its most popular user.
-    
-            Other businessmen who’ve expressed interest include Kevin O’Leary, the Canadian chairman of the private venture capital firm O’Leary Ventures. As with Mnuchin, O’Leary has said a potential acquisition of TikTok may have to exclude TikTok’s algorithm. His suggested opening bid? Between $20 billion and $30 billion.",CNN,25/04/2024,"['The clock has begun ticking for TikTok to find a new owner.', 'President Joe Biden signed legislation Wednesday that would ban TikTok in the United States unless its Chinese parent, ByteDance, sells the app.', 'TikTok plans to challenge the law in court, but if it fails, the company would have to find a buyer, and fast.', 'That raises the question of who the US government might view as a suitable new owner of a social media platform with 170 million US users and a rising challenger to legacy social media giants such as Facebook-parent Meta.', 'The prospect of a TikTok sale could lead to a potential feeding frenzy, drawing out everyone from tech companies to retailers and private equity firms and investment bankers.', 'And an added headache for any potential buyer: China’s commerce ministry has previously said it would “firmly oppose” any forced sale of TikTok.', 'There’s no apparent consensus on a favorite bidder yet.', 'But some candidates seem more likely than others, legal experts and business analysts say.', 'Any effort by an established tech giant with a large social media presence would immediately trigger antitrust red flags, according to analysts.', 'Meta is already fighting a Federal Trade Commission lawsuit that alleges its purchase of WhatsApp and Instagram violated US antitrust law, and the FTC is actively seeking to break up the company.', 'Google is also fighting Justice Department antitrust suits on two fronts.', 'These are related to its search and advertising technology businesses, not its ownership of YouTube.', 'Still, the company is under such close scrutiny that it would be a poor candidate to buy TikTok, experts say.', '“If it’s Amazon, Microsoft, Google or Meta, I just think you’re going to see substantial antitrust concern,” said Gene Kimmelman, a former Justice Department antitrust official. “', 'If you were to say, like, an Intel, or a Cisco, maybe Oracle, I don’t know.', 'If you were to tell me it’s Verizon, or AT&T, maybe it’s not as big of a problem.”', 'Jasmine Enberg, principal analyst at Emarketer, highlighted a paradox: Only the largest, most dominant tech giants may have the resources to buy TikTok.', 'But it may be they who would attract the most regulatory skepticism.', '“Any potential buyer must have deep pockets and a strong stomach,” Enberg said. “', 'While many would want to get their hands on TikTok’s coveted algorithm, most of those who could afford to buy the app wouldn’t be able to clear antitrust hurdles.”', 'Microsoft recently attracted heaps of antitrust scrutiny when it sought to buy the video game publisher Activision Blizzard in one of the largest tech mergers in history.', 'But it ultimately overcame an FTC lawsuit and placated other international regulators to close the blockbuster deal last fall.', 'Fresh off that success, Microsoft could find itself with a renewed opportunity to strike a deal with TikTok.', 'While Microsoft owns LinkedIn, a social network geared to professionals, it doesn’t have an app like TikTok in its portfolio.', 'Microsoft had been one of the handful of contenders to buy TikTok in 2020 when President Donald Trump first pushed for a sale.', 'The negotiations had also involved Walmart, which said at the time it was partnering with Microsoft on a possible deal.', 'Both companies dropped their efforts after TikTok agreed to work with Oracle on Project Texas, the initiative by TikTok to store US user data on Oracle-owned servers and that was intended to satisfy US national security concerns.', 'Four years later, with TikTok’s future in doubt, so is the fate of Project Texas, and that means those who had previously expressed interest in TikTok may have another shot.', 'And Oracle, too.', 'In a move that caught many by surprise, former Trump Treasury Secretary Steven Mnuchin announced last month that he is putting together a team of investors to buy TikTok.', 'The exact details of Mnuchin’s offer are hazy, though he has reportedly suggested a deal could exclude TikTok’s powerful content algorithm that has formed the basis of its popularity.', 'That might get around Chinese government export restrictions on recommendation algorithms, but would essentially mean buying only TikTok’s brand and leaving its most treasured asset off the table.', 'The unusual pitch has already raised eyebrows: Mnuchin helped lead the Trump administration’s effort to ban TikTok the first time around.', 'Mnuchin has said publicly that that experience gave him a deep understanding of TikTok and how it operates, including the data it collects on users.', 'That Mnuchin may now leverage that inside knowledge for his own potential benefit reflects a conflict of interest, some critics say.', 'It would be a “disgrace if [Mnuchin] was allowed to turn around and use that classified information to further enrich himself and his Saudi buddies,” Oregon Democratic Sen. Ron Wyden told The Washington Post last month.', 'Buying TikTok would also turn Mnuchin into a rival to Trump, who is the chairman and leading shareholder of the company that owns Truth Social, a social media platform where Trump is its most popular user.', 'Other businessmen who’ve expressed interest include Kevin O’Leary, the Canadian chairman of the private venture capital firm O’Leary Ventures.', 'As with Mnuchin, O’Leary has said a potential acquisition of TikTok may have to exclude TikTok’s algorithm.', 'His suggested opening bid?', 'Between $20 billion and $30 billion.']",0.1264178625807902,"That might get around Chinese government export restrictions on recommendation algorithms, but would essentially mean buying only TikTok’s brand and leaving its most treasured asset off the table.","Meta is already fighting a Federal Trade Commission lawsuit that alleges its purchase of WhatsApp and Instagram violated US antitrust law, and the FTC is actively seeking to break up the company.",-0.3035500157963146,But it ultimately overcame an FTC lawsuit and placated other international regulators to close the blockbuster deal last fall.,"Still, the company is under such close scrutiny that it would be a poor candidate to buy TikTok, experts say.",2024-04-25
-Southwest to stop service to 4 airports in wake of rising losses and more Boeing delivery problems,https://edition.cnn.com/2024/04/25/business/boeing-problems-southwest-ends-service-4-airports/index.html,"
-  Updated
-        12:00 PM EDT, Thu April 25, 2024
-    ","Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing.
-    
-            The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport in New York and Houston’s George Bush Intercontinental Airport. Southwest will continue to serve Houston’s other airport.
-    
-            “The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025,” said Southwest CEO Bob Jordan in the company’s first-quarter financial results statement. “We are reacting and replanning quickly to mitigate the operational and financial impacts. Consequently, we have made the difficult decision to close our operations [at the four airports].”
-    
-            However, in an interview later Thursday on CNBC, Jordan said that the decision to cut service to those four airports would have been made in attempt to improve financial results and would been done with or without the delivery issues with Boeing.
-    
-            “The network actions have really nothing to do with the Boeing delays. We’re taking network actions regardless,” he said, although he added, “Now the Boeing delays are very painful. …They hurt us on the revenue front. They cause us to be inefficient.”
-    
-            In its quarterly financial report on Thursday, Southwest (LUV) announced it lost $218 million excluding special items, or 36 cents a share, in the first quarter. That was up from the $163 million it lost on that basis a year ago. The loss came despite record first-quarter revenue of $6.3 billion, up 11% from a year earlier. The jump in revenue came from an increase in passenger traffic, as fare data showed passengers paying about the same amount to fly every mile.
-    
-            It also disclosed it now only expects 20 planes to be delivered by Boeing this year. It started the year expecting to have 79 planes delivered. Then last month it announced it was expecting 46 planes to be delivered during the year. It had already put in place a hiring freeze for pilots and flight attendants due to the reduced deliveries.
-    
-            The delays in deliveries are being caused by the Alaska Airlines incident on January 5 when a door plug blew off of a 737 Max 9 jet. That prompted a three-week grounding of the Max 9, and will delay the certification of two new models of the plane, the 737 Max 7 and 737 Max 10, until at least next year. Boeing had promised to start deliveries of both those models later this year.
-    
-            The financial problems at Southwest are the latest sign of the widening impact of the ongoing problems at Boeing throughout the air travel system. In its first-quarter financial report Wednesday, Boeing said it will have to keep production at a lower level likely into next year as it works to improve the quality and safety of its jets.
-    
-            United has also stopped hiring additional pilots due to Boeing delivery issues, and it has requested that some pilots take a voluntary leaves without pay.
-    
-            Southwest doesn’t have any Max 9 jets in its fleet, but the airline that flies only current and earlier versions of the 737 had orders for 307 of the 737 Max 7 as of January of this year. It announced Thursday that it has trimmed its order book by 19 of those jets, shifting to 737 Max 8 jets instead.
-    
-            The airline expects its capacity to grow by 4% this year, down from its earlier estimate of 6% growth. That will raise its costs when adjusted for capacity by about 2 percentage points, according to its new guidance.
-    
-            American Airlines also reported a first quarter loss, losing $226 million, or 34 cents a share, excluding special items. The company posted a narrow $33 million profit on that basis in the year ago quarter.
-    
-            American revenue was up 3% to $12.6 billion, despite a nearly 7% drop in the amount that passengers paid to fly every mile they traveled on the airline. But that was balanced out by an 11% rise in the number of miles they flew.
-    
-            “While we aren’t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,” said American CEO Robert Isom. He said unlike many competitors American already has the aircraft in house to meet its schedule for the rest of this year.
-    
-            Unlike all-Boeing Southwest, American’s fleet of mainline aircraft is split fairly evenly between those from Boeing and those from its rival Airbus.
-    
-            Asked if Boeing had a comment on Southwest’s announcement about cancelling service to the four airports, Boeing pointed to comments from its CFO Brian West at a recent investors’ conference.
-    
-            “We put the customers in tight spot, the most important thing we do is communicate with them. And they have been supportive of everything we’re trying to do to enhance safety and quality for the industry,” West said in March. “In the near term, the slowdown has impacted us, and it’s impacted them and we’re communicating it to them so that we can work our way through it, and we will stand behind our customer.”
-    
-            In response to a question on American’s conference call Thursday Isom said that he has been talking to a number of Boeing executives about the problems the aircraft maker has been having.
-    
-            “My message has always been the same. ‘Get your act together,’” said Isom. He said the airline supports Boeing’s efforts to fix its production issues.
-    
-            In March American placed a large order for 85 of the 737 Max 10, which, like the Max 7, has had its certification to carry passengers pushed back to next year by the incident at Alaska Air. Those planes are not due to be delivered until 2028.
-    
-            “I can’t tell you if they’re making progress or not,” said Isom. “Hopefully Boeing has its act together [by 2028].”
-    
-            The losses at Southwest and American capped a difficult quarter for the US airline industry, with most carriers reporting losses whether or not they fly all Boeing, all Airbus or some mixture of planes from the two manufacturers. Rising fuel and labor costs plus fares that were little changed from a year earlier resulted in only Delta Air Lines reporting a profit among the major US carriers.
-    
-            The rising losses at Southwest are a stark contrast to what had traditionally been the most profitable US airline and one of the few not to file for bankruptcy at some point in its history. It went 11 years, from the Great Recession in 2009 to the plunge in air travel that accompanied the start of the pandemic in 2020, without reporting losses in any quarter.
-    
-            Shares of Southwest (LUV) lost 8% on the report in midday trading Thursday, while shares of American (AAL) were little changed.
-    
-            Correction: An earlier version of this story incorrectly attributed the reason for Southwest’s decision to stop service to four airports. It was to improve financial results and efficiency.",CNN,25/04/2024,"['Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing.', 'The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico,Syracuse Hancock International Airport in New York and Houston’sGeorge Bush Intercontinental Airport.', 'Southwest will continue to serve Houston’s other airport.', '“The recent news from Boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025,” said Southwest CEO Bob Jordan in the company’s first-quarter financial results statement. “', 'We are reacting and replanning quickly to mitigate the operational and financial impacts.', 'Consequently, we have made the difficult decision to close our operations [at the four airports].”', 'However, in an interview later Thursday on CNBC, Jordan said that the decision to cut service to those four airports would have been made in attempt to improve financial results and would been done with or without the delivery issues with Boeing.', '“The network actions have really nothing to do with the Boeing delays.', 'We’re taking network actions regardless,” he said, although he added, “Now the Boeing delays are very painful. …', 'They hurt us on the revenue front.', 'They cause us to be inefficient.”', 'In its quarterly financial report on Thursday, Southwest (LUV) announced it lost $218 million excluding special items, or36cents a share, in the first quarter.', 'That was up from the $163 million it lost on that basis a year ago.', 'The loss came despite record first-quarter revenue of $6.3 billion, up 11% from a year earlier.', 'The jump in revenue came from an increase in passenger traffic, as fare data showed passengers paying about the same amount to fly every mile.', 'It also disclosed it now only expects 20 planes to be delivered by Boeing this year.', 'It started the year expecting to have 79 planes delivered.', 'Then last month it announced it was expecting 46 planes to be delivered during the year.', 'It had already put in place a hiring freeze for pilots and flight attendants due to the reduced deliveries.', 'The delays in deliveries are being caused by the Alaska Airlines incident on January 5 when a door plug blew off of a 737 Max 9 jet.', 'That prompted a three-week grounding of the Max 9, and will delay the certification of two new models of the plane, the 737 Max 7 and 737 Max 10, until at least next year.', 'Boeing had promised to start deliveries of both those models later this year.', 'The financial problems at Southwest are the latest sign of the widening impact of the ongoing problems at Boeing throughout the air travel system.', 'In its first-quarter financial report Wednesday, Boeing said it will have to keep production at a lower level likely into next year as it works to improve the quality and safety of its jets.', 'United has also stopped hiring additional pilots due to Boeing delivery issues, and it has requested that some pilots take a voluntary leaves without pay.', 'Southwest doesn’t have any Max 9 jets in its fleet, but the airline that flies only current and earlier versions of the 737 had orders for 307 of the 737 Max 7 as of January of this year.', 'It announced Thursday that it has trimmed its order book by 19 of those jets, shifting to 737 Max 8 jets instead.', 'The airline expects its capacity to grow by 4% this year, down from its earlier estimate of 6% growth.', 'That will raise its costs when adjusted for capacity by about 2 percentage points, according to its new guidance.', 'American Airlines also reported a first quarter loss, losing $226 million, or 34 cents a share, excluding special items.', 'The company posted a narrow $33 million profit on that basis in the year ago quarter.', 'American revenue was up 3% to $12.6 billion, despite a nearly 7% drop in the amount that passengers paid to fly every mile they traveled on the airline.', 'But that was balanced out by an 11% rise in the number of miles they flew.', '“While we aren’t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,” said American CEO Robert Isom.', 'He said unlike many competitors American already has the aircraft in house to meet its schedule for the rest of this year.', 'Unlike all-Boeing Southwest, American’s fleet of mainline aircraft is split fairly evenly between those from Boeing and those from its rival Airbus.', 'Asked if Boeing had a comment on Southwest’s announcement about cancelling service to the four airports, Boeing pointed to comments from its CFO Brian West at a recent investors’ conference.', '“We put the customers in tight spot, the most important thing we do is communicate with them.', 'And they have been supportive of everything we’re trying to do to enhance safety and quality for the industry,” West said in March. “', 'In the near term, the slowdown has impacted us, and it’s impacted them and we’re communicating it to them so that we can work our way through it, and we will stand behind our customer.”', 'In response to a question on American’s conference call Thursday Isom said that he has been talking to a number of Boeing executives about the problems the aircraft maker has been having.', '“My message has always been the same. ‘', 'Get your act together,’” said Isom.', 'He said the airline supports Boeing’s efforts to fix its production issues.', 'In March American placed a large order for 85 of the 737 Max 10, which, like the Max 7, has had its certification to carry passengers pushed back to next year by the incident at Alaska Air.', 'Those planes are not due to be delivered until 2028.', '“I can’t tell you if they’re making progress or not,” said Isom. “', 'Hopefully Boeing has its act together [by 2028].”', 'The losses at Southwest and American capped a difficult quarter for the US airline industry, with most carriers reporting losses whether or not they fly all Boeing, all Airbus or some mixture of planes from the two manufacturers.', 'Rising fuel and labor costs plus fares that were little changed from a year earlier resulted in only Delta Air Lines reporting a profit among the major US carriers.', 'The rising losses at Southwest are a stark contrast to what had traditionally been the most profitable US airline and one of the few not to file for bankruptcy at some point in its history.', 'It went 11 years, from the Great Recession in 2009 to the plunge in air travel that accompanied the start of the pandemic in 2020, without reporting losses in any quarter.', 'Shares of Southwest (LUV) lost 8% on the report in midday trading Thursday, while shares of American (AAL) were little changed.', 'Correction: An earlier version of this story incorrectly attributed the reason for Southwest’s decision to stop service to four airports.', 'It was to improve financial results and efficiency.']",0.0652198266562575,"“While we aren’t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,” said American CEO Robert Isom.","The losses at Southwest and American capped a difficult quarter for the US airline industry, with most carriers reporting losses whether or not they fly all Boeing, all Airbus or some mixture of planes from the two manufacturers.",-0.4038680739262524,"American revenue was up 3% to $12.6 billion, despite a nearly 7% drop in the amount that passengers paid to fly every mile they traveled on the airline.",The company posted a narrow $33 million profit on that basis in the year ago quarter.,2024-04-25
-"US pending home sales jumped in March, beating expectations by a mile",https://edition.cnn.com/2024/04/25/economy/us-pending-home-sales-march/index.html,"
-  Updated
-        12:02 PM EDT, Thu April 25, 2024
-    ","Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month. And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high.
-    
-            Pending home sales — a forward-looking indicator based on contract signings rather than closings — climbed 3.4% in March, the National Association of Realtors reported Thursday, which was “the best performance in a year,” according to a release. That was well above the 0.3% decline forecast by economists, according to a FactSet poll. Contract signings rose across the country in March from the prior month, except in the Midwest.
-    
-            Despite the March gain, pending home sales are still “in a fairly narrow range over the last 12 months without a measurable breakout,” NAR’s chief economist, Lawrence Yun, said in a release. “Meaningful gains will only occur with declining mortgage rates and rising inventory.”
-    
-            The broader US housing market began the year with some momentum, as home sales climbed, homebuilder sentiment improved and traders priced in several interest rate cuts this year. Now, the narrative has shifted.
-    
-            Existing home sales, which make up the vast majority of the housing market, plunged in March. Hotter-than-expected inflation readings in recent months are now keeping the Federal Reserve from cutting interest rates anytime soon.
-    
-            That has sent bond yields soaring. The average 30-year fixed-rate mortgage, which tracks the 10-year US Treasury yield, surged past 7% last week, and economists aren’t expecting rates to fall meaningfully this year.
-    
-            “Pending home sales probably will drop back significantly over the next couple of months. Sales cannot defy weaker mortgage demand indefinitely, and applications have continued to soften in April,” Oliver Allen, senior US economist at Pantheon Macroeconomics, wrote in a note Thursday.
-    
-            In addition to elevated mortgage rates, housing affordability is also being hampered by rising home prices and a persistent lack of homes on the market.
-    
-            The median US home price was $393,500 last month, up 4.8% from a year earlier and the highest level since August 2023. It was also the highest March price on record. S&P Global releases a comprehensive index of home prices across the country next week and that one reached a record high in January.
-    
-            Housing inventory has improved recently, but it’s still not keeping up with demand. Not only does that mean homebuyers have fewer choices, but it also puts some upward pressure on prices in markets where there is an undersupply of housing.
-    
-            Inventory of unsold homes rose 4.7% in March from the prior month to 1.11 million units, and was up 14.4% from a year earlier, according to NAR data. There isn’t enough housing supply for various reasons, but a key one has been that homeowners are choosing not to sell because they want to hold on to their low mortgage rate.
-    
-            Those are the so-called “golden handcuffs” of low mortgage rates. They began to climb in early 2022 when the Federal Reserve started to hike interest rates in a bid to tamp down high inflation. Homeowners have opted to stay put, but life events such as marriage, divorce and new children could force some of them to give up on waiting for mortgages rate to decline and sell their home, Yun has said.
-    
-            The 30-year fixed-rate mortgage averaged 7.17% in the week ended April 25, up slightly from the 7.10% registered last week. That was the highest level since late November. The average 15-year mortgage also rose this week.
-    
-            “Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady,” said Sam Khater, Freddie Mac’s chief economist, in a release. “With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022.”
-    
-            Demand for housing could weaken or stall if both mortgage rates and home prices remain elevated. It remains to be seen if housing inventory will continue to catch up. Residential construction of single-family homes also fell sharply in March, down 12.4% to a seasonally adjusted annual rate of 1.022 million units, according to Commerce Department data.
-    
-            The 10-year Treasury yield climbed Thursday above 4.70%, the highest level in more than five months, after the latest data on gross domestic product showed that growth slowed more than expected as inflation remained stubbornly high that quarter, too.",CNN,25/04/2024,"['Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month.', 'And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high.', 'Pending home sales — a forward-looking indicator based on contract signings rather than closings — climbed 3.4% in March, the National Association of Realtors reported Thursday, which was “the best performance in a year,” according to a release.', 'That was well above the 0.3% decline forecast by economists, according to a FactSet poll.', 'Contract signings rose across the country in March from the prior month, except in the Midwest.', 'Despite the March gain, pending home sales are still “in a fairly narrow range over the last 12 months without a measurable breakout,” NAR’s chief economist, Lawrence Yun, said in a release. “', 'Meaningful gains will only occur with declining mortgage rates and rising inventory.”', 'The broader US housing market began the year with some momentum, as home sales climbed, homebuilder sentiment improved and traders priced in several interest rate cuts this year.', 'Now, the narrative has shifted.', 'Existing home sales, which make up the vast majority of the housing market, plunged in March.', 'Hotter-than-expected inflation readings in recent months are now keeping the Federal Reserve from cutting interest rates anytime soon.', 'That has sent bond yields soaring.', 'The average 30-year fixed-rate mortgage, which tracks the 10-year US Treasury yield, surged past 7% last week, and economists aren’t expecting rates to fall meaningfully this year.', '“Pending home sales probably will drop back significantly over the next couple of months.', 'Sales cannot defy weaker mortgage demand indefinitely, and applications have continued to soften in April,” Oliver Allen, senior US economist at Pantheon Macroeconomics, wrote in a note Thursday.', 'In addition to elevated mortgage rates, housing affordability is also being hampered by rising home prices and a persistent lack of homes on the market.', 'The median US home price was $393,500 last month, up 4.8% from a year earlier and the highest level since August 2023.', 'It was also the highest March price on record.', 'S&P Global releases a comprehensive index of home prices across the country next week and that one reached a record high in January.', 'Housing inventory has improved recently, but it’s still not keeping up with demand.', 'Not only does that mean homebuyers have fewer choices, but it also puts some upward pressure on prices in markets where there is an undersupply of housing.', 'Inventory of unsold homes rose 4.7% in March from the prior month to 1.11 million units, and was up 14.4% from a year earlier, according to NAR data.', 'There isn’t enough housing supply for various reasons, but a key one has been that homeowners are choosing not to sell because they want to hold on to their low mortgage rate.', 'Those are the so-called “golden handcuffs” of low mortgage rates.', 'They began to climb in early 2022 when the Federal Reserve started to hike interest rates in a bid to tamp down high inflation.', 'Homeowners have opted to stay put, but life events such as marriage, divorce and new children could force some of them to give up on waiting for mortgages rate to decline and sell their home, Yun has said.', 'The 30-year fixed-rate mortgage averaged 7.17% in the week ended April 25, up slightly from the 7.10% registered last week.', 'That was the highest level since late November.', 'The average 15-year mortgage also rose this week.', '“Despite rates increasing more than half a percent since the first week of the year, purchase demand remains steady,” said Sam Khater, Freddie Mac’s chief economist, in a release. “', 'With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022.”', 'Demand for housing could weaken or stall if both mortgage rates and home prices remain elevated.', 'It remains to be seen if housing inventory will continue to catch up.', 'Residential construction of single-family homes also fell sharply in March, down 12.4% to a seasonally adjusted annual rate of 1.022 million units, according to Commerce Department data.', 'The 10-year Treasury yield climbed Thursday above 4.70%, the highest level in more than five months, after the latest data on gross domestic product showed that growth slowed more than expected as inflation remained stubbornly high that quarter, too.']",0.043385630773137,"Pending home sales — a forward-looking indicator based on contract signings rather than closings — climbed 3.4% in March, the National Association of Realtors reported Thursday, which was “the best performance in a year,” according to a release.",Demand for housing could weaken or stall if both mortgage rates and home prices remain elevated.,0.368747565895319,"With rates staying higher for longer, many homebuyers are adjusting, as evidenced by this week’s report that sales of newly built homes saw the biggest increase since December 2022.”","Residential construction of single-family homes also fell sharply in March, down 12.4% to a seasonally adjusted annual rate of 1.022 million units, according to Commerce Department data.",2024-04-25
-Lloyds hit as banks compete for mortgage customers,https://www.bbc.co.uk/news/business-68887633,2024-04-24T07:24:09.000Z,"Lloyds Banking Group's profits plunged by 28% in early 2024 as competition grew for mortgages and deposits. The bank posted pre-tax profits of £1.6bn between January and March, down from £2.3bn last year. Lloyds said its margins had been hit ""mainly within UK mortgages"" amid heightened competition between lenders to offer squeezed buyers better deals. The UK's biggest lender also made less from loans to businesses, but more from credit cards and car finance. The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).  The fall was expected as more people moved their cash into savings accounts with higher returns and mortgage rates eased because of the competition stepping up among lenders. ""The company has seen competition in the mortgage market bring down its returns and savers move deposits into higher interest accounts - meaning it is paying out more to customers, "" said Russ Mould, investment director at AJ Bell. Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.  For the whole of 2023, Lloyds' pre-tax profits jumped to £7.5bn, which was higher than expected and up 57% on 2022. Borrowing costs have risen as the Bank of England has increased its base interest rate in a bid to bring down inflation - which measures price rises over time. But Mr Mould suggested that ""Lloyds' brief moment in the sun, when rates moved sharply higher and it was able to generate higher margins, seems to have come to an end"". In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade. The Bank of England is expected to cut rates this year, but predictions of when such a move might take place has seen some lenders start raising mortgage rates in recent days. Lloyds' rivals HSBC, NatWest and Barclays all raised rates on fixed-term loans, though not on all products, due to financial markets predicting an interest rate cut might not be as soon as previously expected. Lloyds said it still believed the Bank would cut rates by 0.25 percentage points three times before the end of 2024, which if happens, would see rates fall from 5.25% to 4.5%. On Wednesday, the average two-year fixed mortgage stood at 5.83%, while the average five-year deal was 5.41%.   Lloyds' latest results also showed the shift in more customers moving cash out of current accounts and into savings accounts had continued. The group also said it had faced higher running costs in early 2024, including a new sector-wide Bank of England levy on lenders and a £100m additional charge to cover employee severance after a recent round of redundancies. It confirmed it had not set aside any further cash to the £450m it has already allocated to cover the potential cost of an investigation into car finance deals by the UK's financial regulator. A probe into whether people had beenpaying too much for cars was launched by the Financial Conduct Authority (FCA) in January. Matt Britzman, equity analyst at investment firm Hargreaves Lansdown, said while Lloyds' profit fall looked ""substantial from this time last year"", it had been expected. Charlie Nunn, Lloyds' chief executive, said the quarterly results provided the group with ""further confidence"" around its strategic ambitions and showed the bank was ""continuing to support customers"". As well as announcing its latest earnings, Lloyds released forecasts for house prices. The group said it expected house prices to rise by 1.5% in 2024 and average that amount over the next four years. Separately on Wednesday, Heathrow Airport reported a huge rise in profits before tax of £189m for the three months to 31 March after recording a £60m loss for the same period last year. The UK's biggest airport said some 18.5 million passengers travelled through it in early 2024, partly driven by growth on business routes to Delhi and Mumbai in India and strong North American traffic. It has predicted this summer will be its ""busiest on record"", adding it had ""a robust operating plan in place to keep the airport running smoothly, even if unnecessary industrial action materialises"". Holiday firm Jet2 also said its summer season was 55% sold so far, with forward bookings for package holiday customers up by 13% and flight-only passengers up by more than 18%. ",BBC,24/04/2024,"[""Lloyds Banking Group's profits plunged by 28% in early 2024 as competition grew for mortgages and deposits."", 'The bank posted pre-tax profits of £1.6bn between January and March, down from £2.3bn last year.', 'Lloyds said its margins had been hit ""mainly within UK mortgages"" amid heightened competition between lenders to offer squeezed buyers better deals.', ""The UK's biggest lender also made less from loans to businesses, but more from credit cards and car finance."", 'The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).', 'The fall was expected as more people moved their cash into savings accounts with higher returns and mortgage rates eased because of the competition stepping up among lenders. ""', 'The company has seen competition in the mortgage market bring down its returns and savers move deposits into higher interest accounts - meaning it is paying out more to customers, "" said Russ Mould, investment director at AJ Bell.', ""Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans."", ""For the whole of 2023, Lloyds' pre-tax profits jumped to £7.5bn, which was higher than expected and up 57% on 2022."", 'Borrowing costs have risen as the Bank of England has increased its base interest rate in a bid to bring down inflation - which measures price rises over time.', 'But Mr Mould suggested that ""Lloyds\' brief moment in the sun, when rates moved sharply higher and it was able to generate higher margins, seems to have come to an end"".', 'In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade.', 'The Bank of England is expected to cut rates this year, but predictions of when such a move might take place has seen some lenders start raising mortgage rates in recent days.', ""Lloyds' rivals HSBC, NatWest and Barclays all raised rates on fixed-term loans, though not on all products, due to financial markets predicting an interest rate cut might not be as soon as previously expected."", 'Lloyds said it still believed the Bank would cut rates by 0.25 percentage points three times before the end of 2024, which if happens, would see rates fall from 5.25% to 4.5%.', 'On Wednesday, the average two-year fixed mortgage stood at 5.83%, while the average five-year deal was 5.41%.', ""Lloyds' latest results also showed the shift in more customers moving cash out of current accounts and into savings accounts had continued."", 'The group also said it had faced higher running costs in early 2024, including a new sector-wide Bank of England levy on lenders and a £100m additional charge to cover employee severance after a recent round of redundancies.', ""It confirmed it had not set aside any further cash to the £450m it has already allocated to cover the potential cost of an investigation into car finance deals by the UK's financial regulator."", 'A probe into whether people had beenpaying too much for cars was launched by the Financial Conduct Authority (FCA) in January.', 'Matt Britzman, equity analyst at investment firm Hargreaves Lansdown, said while Lloyds\' profit fall looked ""substantial from this time last year"", it had been expected.', 'Charlie Nunn, Lloyds\' chief executive, said the quarterly results provided the group with ""further confidence"" around its strategic ambitions and showed the bank was ""continuing to support customers"".', 'As well as announcing its latest earnings, Lloyds released forecasts for house prices.', 'The group said it expected house prices to rise by 1.5% in 2024 and average that amount over the next four years.', 'Separately on Wednesday, Heathrow Airport reported a huge rise in profits before tax of £189m for the three months to 31 March after recording a £60m loss for the same period last year.', ""The UK's biggest airport said some 18.5 million passengers travelled through it in early 2024, partly driven by growth on business routes to Delhi and Mumbai in India and strong North American traffic."", 'It has predicted this summer will be its ""busiest on record"", adding it had ""a robust operating plan in place to keep the airport running smoothly, even if unnecessary industrial action materialises"".', 'Holiday firm Jet2 also said its summer season was 55% sold so far, with forward bookings for package holiday customers up by 13% and flight-only passengers up by more than 18%.']",0.3043739212593588,"Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.","In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade.",0.2630734118548306,"Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.","The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).",2024-04-25
-Why a deluge of Chinese-made drugs is hard to curb,https://www.bbc.co.uk/news/business-68669244,2024-04-18T22:57:01.000Z,"When Sammy left her village in Sichuan province to attend university in northern China more than a decade ago, she was following a well-trodden rite of passage.  The English language graduate was the first person in her family to go to university. She had a passion for foreign languages and dreamed of becoming a teacher. She had never heard of synthetic opioids before.  After graduating, Sammy found work at a chemicals company in the Chinese city of Shijiazhuang, selling what she thought were chemicals to clients around the world. She would practice English every day speaking to her customers online, and earn a commission for each sale she made. Her dreams of becoming a teacher quickly faded. ""Maybe others are just like me… At the start we don't know what we are selling, but when we find out we have fallen in love with the work,"" she said. ""This work can make money,"" she adds. Sammy [not her real name] is an unlikely drug trafficker. She is one of what international law enforcement agencies estimate could be thousands of online sales representatives, working for illicit Chinese pharmaceutical and chemical companies producing and smuggling illegal laboratory made drugs.  The US government has long accused China of flooding the country with deadly drugs like fentanyl, a synthetic opioid up to 50 times stronger than heroin, claims the Chinese government denies. The US says Chinese-made opioids are fuelling the worst drug crisis in the country's history. In 2022 more than 70,000 Americans died from fentanyl overdoses. According to a report published by the US select committee on the Chinese Communist Party, the Chinese government provides subsidies to companies openly trafficking illicit synthetic drugs. The report found tens of thousands of posts online advertising illegal drugs and pre-cursors. The study claims that ""wholly state owned"" companies are involved in the trafficking of drugs. The Chinese government has consistently denied knowledge of the illegal drug trade. Many like Sammy fall into the drug trade seemingly by accident, initially unaware of the products they are peddling online and their deadly consequences. But others are more aware of what they are selling.  Each morning Sara [not her real name] posts photos and videos across her social media platforms advertising drugs; synthetic cannabinoids, precursors for MDMA, and nitazenes, a synthetic opioid considered up to 50 times more potent than even fentanyl. ""We have many customers in Britain and have cooperated with them many times,"" boasts Sara, an international trade graduate, now working for an online platform.  When challenged, she is not drawn into a moral discussion about selling drugs. She claims she never asks customers how they use what she sells.   The UK National Crime and Agency (NCA) believes drug dealers are mixing the synthetic opioid with street drugs such as heroin. According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.  The BBC has found hundreds of adverts for nitazenes online. Suppliers contacted claim to send shipments through courier services, mislabelling deliveries and hiding drugs in fake packaging. The BBC has also seen courier tracking numbers provided by online sales representative in China claiming to have made successful deliveries across the UK. Sara entered the business after university. She thought she was selling chemicals.  She has worked in the industry for two and a half years. ""I know most of the products,"" she says. ""My boss has been running this company for more than seven years, and he knows lots of customers and freight forwarders. If the product is detained, he will lose the most. So he will try his best to make the product reach you smoothly,"" she adds. In March, the UK government classified 15 synthetic opioids as Class A drugs. Under the Misuse of Drugs act anyone caught supplying or producing the drugs could face up to life in prison. Those caught in possession face seven years.   According to the United Nations Office on Drugs and Crime (UNODC), China has between 40,000 and 100,000 pharmaceutical companies. ""China has long had one of the most significant pharmaceutical industries in Asia, as well as one of the largest chemical industries. And we've seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""While both industries are regulated, the challenge is significant given the sheer scale, and at the same time there are a number of ways to move products. Parcel post, air freight and shipping containers are all moving globally in high volumes,"" he said. Mr Douglas says that synthetic drugs are disrupting the traditional drug trade. Outside of China, synthetic drugs offer opportunities for both traditional crime organisations and upstarts able to buy directly from producers half a world away.  ""Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable. They're attractive to traffickers."" That was confirmed in my conversations with sales people working for Chinese pharmaceutical firms. ""First of all, our packaging is completely secret, no one knows what it is until you open it, and second, we will change the name of the package and will not reveal any name about the product,"" says Sara. ""We will get the logistics order number when we send the package, we will track the situation of the package at any time, and any anomalies can be known and solved in time,"" she adds. According to Europol, the European police agency, China is the world's biggest manufacturer and distributor of synthetic, lab-made drugs. Some mimic the effects of traditional drugs like cannabis or cocaine. Chemists synthesise new drugs in order to stay one step ahead of the law. ""It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce.  ""I have not seen such a professionalism and a corporate element in this anywhere else in the world. Criminal activity was a type of social mobility."" In 2020, researchers from TraCCC studied over 350 English language websites advertising the synthetic opioid fentanyl. ""From all the adverts that we found, nearly 40% of them were from corporate registries, and the largest hub of that was in Wuhan,"" says Dr Shelly. The sales people contacted by the BBC see the drug trade as simply another aspect of e-commerce. When challenged over selling drugs that damage lives, one described herself as a ""middleman."" ""Somebody needs it, somebody makes it, and I am just a middleman who lets customers know that I have it and what they do with it, I don't care,"" she says. ""Then I figured out I just need to make money. I don't know and don't care. Everyone has their own needs."" The woman boasts of clients from Canada to Croatia. She provided photos of recent drugs shipments complete with labels showing a UK address. ""I didn't know at first until I went online and translated the product into Chinese,"" she says via a message punctuated with a teary emoji.  Another seller says: ""This industry is easy, and you can get higher wages, which attracts a large number of young people"". Natalie [not her real name], focuses on fentanyl. ""We buy from over 10 different labs and have a large selection. I have a professional shipping agent who packaged goods so has a very high delivery success rate to the UK."" Meanwhile, another supplier claimed to be able to smuggle drugs into the UK hidden in dog food packaging.  ""You don't need to worry about the packaging. We guarantee you safe delivery.""  ""We ship in large quantities all over the world every day. Please trust our professional team. We guarantee 100% safe transportation.""  In 2019, the Chinese government banned all forms of fentanyl and its analogues. In January 2024, China and the US launched a joint operation to curb the production of the synthetic opioid fentanyl. ""As long as market demand remains high in some parts of the world then that demand will be met in one way or another,"" said Mr Douglas from the UNODC.  ",BBC,18/04/2024,"['When Sammy left her village in Sichuan province to attend university in northern China more than a decade ago, she was following a well-trodden rite of passage.', 'The English language graduate was the first person in her family to go to university.', 'She had a passion for foreign languages and dreamed of becoming a teacher.', 'She had never heard of synthetic opioids before.', 'After graduating, Sammy found work at a chemicals company in the Chinese city of Shijiazhuang, selling what she thought were chemicals to clients around the world.', 'She would practice English every day speaking to her customers online, and earn a commission for each sale she made.', 'Her dreams of becoming a teacher quickly faded. ""', 'Maybe others are just like me… At the start we don\'t know what we are selling, but when we find out we have fallen in love with the work,"" she said. ""', 'This work can make money,"" she adds.', 'Sammy [not her real name] is an unlikely drug trafficker.', 'She is one of what international law enforcement agencies estimate could be thousands of online sales representatives, working for illicit Chinese pharmaceutical and chemical companies producing and smuggling illegal laboratory made drugs.', 'The US government has long accused China of flooding the country with deadly drugs like fentanyl, a synthetic opioid up to 50 times stronger than heroin, claims the Chinese government denies.', ""The US says Chinese-made opioids are fuelling the worst drug crisis in the country's history."", 'In 2022 more than 70,000 Americans died from fentanyl overdoses.', 'According to a report published by the US select committee on the Chinese Communist Party, the Chinese government provides subsidies to companies openly trafficking illicit synthetic drugs.', 'The report found tens of thousands of posts online advertising illegal drugs and pre-cursors.', 'The study claims that ""wholly state owned"" companies are involved in the trafficking of drugs.', 'The Chinese government has consistently denied knowledge of the illegal drug trade.', 'Many like Sammy fall into the drug trade seemingly by accident, initially unaware of the products they are peddling online and their deadly consequences.', 'But others are more aware of what they are selling.', 'Each morning Sara [not her real name] posts photos and videos across her social media platforms advertising drugs; synthetic cannabinoids, precursors for MDMA, and nitazenes, a synthetic opioid considered up to 50 times more potent than even fentanyl. ""', 'We have many customers in Britain and have cooperated with them many times,"" boasts Sara, an international trade graduate, now working for an online platform.', 'When challenged, she is not drawn into a moral discussion about selling drugs.', 'She claims she never asks customers how they use what she sells.', 'The UK National Crime and Agency (NCA) believes drug dealers are mixing the synthetic opioid with street drugs such as heroin.', 'According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.', 'The BBC has found hundreds of adverts for nitazenes online.', 'Suppliers contacted claim to send shipments through courier services, mislabelling deliveries and hiding drugs in fake packaging.', 'The BBC has also seen courier tracking numbers provided by online sales representative in China claiming to have made successful deliveries across the UK.', 'Sara entered the business after university.', 'She thought she was selling chemicals.', 'She has worked in the industry for two and a half years. ""', 'I know most of the products,"" she says. ""', 'My boss has been running this company for more than seven years, and he knows lots of customers and freight forwarders.', 'If the product is detained, he will lose the most.', 'So he will try his best to make the product reach you smoothly,"" she adds.', 'In March, the UK government classified 15 synthetic opioids as Class A drugs.', 'Under the Misuse of Drugs act anyone caught supplying or producing the drugs could face up to life in prison.', 'Those caught in possession face seven years.', 'According to the United Nations Office on Drugs and Crime (UNODC), China has between 40,000 and 100,000 pharmaceutical companies. ""', 'China has long had one of the most significant pharmaceutical industries in Asia, as well as one of the largest chemical industries.', 'And we\'ve seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""', 'While both industries are regulated, the challenge is significant given the sheer scale, and at the same time there are a number of ways to move products.', 'Parcel post, air freight and shipping containers are all moving globally in high volumes,"" he said.', 'Mr Douglas says that synthetic drugs are disrupting the traditional drug trade.', 'Outside of China, synthetic drugs offer opportunities for both traditional crime organisations and upstarts able to buy directly from producers half a world away. ""', 'Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable.', 'They\'re attractive to traffickers.""', 'That was confirmed in my conversations with sales people working for Chinese pharmaceutical firms. ""', 'First of all, our packaging is completely secret, no one knows what it is until you open it, and second, we will change the name of the package and will not reveal any name about the product,"" says Sara. ""', 'We will get the logistics order number when we send the package, we will track the situation of the package at any time, and any anomalies can be known and solved in time,"" she adds.', ""According to Europol, the European police agency, China is the world's biggest manufacturer and distributor of synthetic, lab-made drugs."", 'Some mimic the effects of traditional drugs like cannabis or cocaine.', 'Chemists synthesise new drugs in order to stay one step ahead of the law. ""', 'It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce. ""', 'I have not seen such a professionalism and a corporate element in this anywhere else in the world.', 'Criminal activity was a type of social mobility.""', 'In 2020, researchers from TraCCC studied over 350 English language websites advertising the synthetic opioid fentanyl. ""', 'From all the adverts that we found, nearly 40% of them were from corporate registries, and the largest hub of that was in Wuhan,"" says Dr Shelly.', 'The sales people contacted by the BBC see the drug trade as simply another aspect of e-commerce.', 'When challenged over selling drugs that damage lives, one described herself as a ""middleman."" ""', 'Somebody needs it, somebody makes it, and I am just a middleman who lets customers know that I have it and what they do with it, I don\'t care,"" she says. ""', 'Then I figured out I just need to make money.', ""I don't know and don't care."", 'Everyone has their own needs.""', 'The woman boasts of clients from Canada to Croatia.', 'She provided photos of recent drugs shipments complete with labels showing a UK address. ""', 'I didn\'t know at first until I went online and translated the product into Chinese,"" she says via a message punctuated with a teary emoji.', 'Another seller says: ""This industry is easy, and you can get higher wages, which attracts a large number of young people"".', 'Natalie [not her real name], focuses on fentanyl. ""', 'We buy from over 10 different labs and have a large selection.', 'I have a professional shipping agent who packaged goods so has a very high delivery success rate to the UK.""', 'Meanwhile, another supplier claimed to be able to smuggle drugs into the UK hidden in dog food packaging. ""', ""You don't need to worry about the packaging."", 'We guarantee you safe delivery."" ""', 'We ship in large quantities all over the world every day.', 'Please trust our professional team.', 'We guarantee 100% safe transportation.""', 'In 2019, the Chinese government banned all forms of fentanyl and its analogues.', 'In January 2024, China and the US launched a joint operation to curb the production of the synthetic opioid fentanyl. ""', 'As long as market demand remains high in some parts of the world then that demand will be met in one way or another,"" said Mr Douglas from the UNODC.']",-0.0146332805685231,"Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable.","It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce. """,0.3921927426542554,"And we've seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""","According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.",2024-04-25
-How TikTok’s Chinese parent company will rely on an American right to keep the app alive,https://edition.cnn.com/2024/04/24/media/tiktok-bytedance-american-right/index.html,"
-  Updated
-        10:12 PM EDT, Wed April 24, 2024
-    ","TikTok’s expected legal challenge to a law signed Wednesday by President Joe Biden forcing the popular app’s parent company to spin off its US operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases.
-    
-            The new law gives TikTok’s parent company ByteDance nine months to sell the short-form video app or face a ban in the US, where it claims some 170 million users and has raised national security concerns over its ability to potentially gather data on and influence Americans.
-    
-            But in an ironic twist, ByteDance, which is based in China where the ruling Communist Party has cracked down on free speech and dissent, will be relying on this very American right to protect its business interest.
-    
-            “We are confident and we will keep fighting for your rights in the courts. The facts and the Constitution are on our side and we expect to prevail,” TikTok chief executive Shou Chew said in a video posted on the app in response to the new law.
-    
-            In recent months, the company has foreshowed it plans to challenge the law on First Amendment grounds. In the run up to the law’s passage, TikTok encouraged its millions of users to call members of Congress to protest the bill, arguing it would infringe on “their Constitutional right to free expression.”
-    
-            Last year, a federal judge halted a first-of-its-kind statewide ban on TikTok in Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”
-    
-            Although the details of TikTok’s legal case are not yet public, legal scholars say the government only has a very narrow argument to stand on to force the sale.
-    
-            “At stake here is not TikTok’s interests, but the interests of the millions of Americans who use the platform,” Ramya Krishnan, a senior staff attorney at the Knight First Amendment Institute at Columbia University, told CNN. “So whatever rights TikTok has or does not have, it is indisputable that Americans have a right to access and use social media and media of their choosing.”
-    
-            To overcome that right, the government’s strongest argument is based on national security, said Nate Persily, Stanford law professor and Founding Co-Director of the Stanford Cyber Policy Center.
-    
-            “If the company is acquiring data on the US population that can be used by the Chinese government in a way that threatens American national security, that of course is a compelling state interest that could overwhelm of what might be the first amendment rights of the users or the platform,” Persily said.
-    
-            “I think that’s a pretty solid argument, actually. I mean, is it even technically feasible to wall off their data gathering operations in the US, given that they it feeds back into the algorithm globally right now,” Persily added.
-    
-            FBI Director Christopher Wray said earlier this week that TikTok is “a national security concern” because “it is beholden to the Chinese government.”
-    
-            “It has to do with the data, the recommendation algorithm, and the software,” Wray said in an NBC News interview. “The data, we’re talking about the ability to control or collect data on millions and millions of users, and to use it for all sorts of influence operations, like driving their AI efforts which are not remotely constrained by the rule of law.”
-    
-            TikTok says it has never provided data to the Chinese government and has “invested billions of dollars to keep US data safe and our platform free from outside influence and manipulation.”
-    
-            But legal experts say potential influence operations on TikTok, such as suppressing content on the app, is not a persuasive argument that will stand up in court. (TikTok has denied it suppresses content).
-    
-            “It’s less persuasive to say that the reason you’re going to ban the foreign platform is because you’re afraid of the messages that it communicates,” Persily said.
-    
-            Krishnan said even the national security argument will not withstand legal scrutiny because the Chinese government could easily purchase the same data on Americans through the open market.
-    
-            “[The government is] not going to be able to satisfy that burden here, not only because much of this information is information that China could obtain through other means, but because the government could much more effectively protect American privacy by passing a comprehensive data privacy law,” she said.
-    
-            TikTok’s looming legal challenge will be one of several that could eventually reach the US Supreme Court that could completely redefine online speech. Other high-profile cases that will determine whether social media companies can moderate content on their platforms are also likely to be decided this year.
-    
-            “The rules for online speech are being written by the Supreme Court this year,” Persily said.",CNN,24/04/2024,"['TikTok’s expected legal challenge to a law signed Wednesday by President Joe Bidenforcing the popular app’s parent company to spin offitsUS operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases.', 'The new law gives TikTok’sparent company ByteDance nine months to sell the short-form video app or face a ban in the US, where it claims some 170 million users and has raised national security concerns over its ability to potentially gather data on and influence Americans.', 'Butin an ironic twist, ByteDance,which is based in China where the ruling Communist Party has cracked down on free speech and dissent, will be relying on this very American right to protect its business interest.', '“We are confident and we will keep fighting for your rights in the courts.', 'The facts and the Constitution are on our side and we expect to prevail,” TikTokchief executiveShou Chew said in a videoposted on the app in response to the new law.', 'In recent months, the company has foreshowed it plans to challenge the law on First Amendment grounds.', 'In the run up to the law’s passage, TikTok encouraged its millions of users to call members of Congress to protest the bill, arguing it would infringe on “their Constitutional right to free expression.”', 'Last year, a federal judge halted a first-of-its-kind statewide ban on TikTokin Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”', 'Although the details of TikTok’s legal case are not yet public, legal scholars say the government only has a very narrow argument to stand on to force the sale.', '“At stake here is not TikTok’s interests, but the interests of the millions of Americans who use the platform,” Ramya Krishnan, a senior staff attorney at the Knight First Amendment Instituteat Columbia University, told CNN. “', 'So whatever rights TikTok has or does not have, it is indisputable that Americans have a right to access and use social media and media of their choosing.”', 'To overcome that right, the government’s strongestargument is based on national security,saidNate Persily, Stanford law professor andFounding Co-Director of the Stanford Cyber Policy Center.', '“If the company is acquiring data on the US population that can be used by the Chinese government in a way that threatens American national security, that of course is a compelling state interest that could overwhelm of what might be the first amendment rights of the users or the platform,” Persily said.', '“I think that’s a pretty solid argument, actually.', 'I mean, is it even technically feasible to wall off their data gathering operations in the US, given that they it feeds back into the algorithm globally right now,” Persily added.', 'FBI Director Christopher Wraysaid earlier this weekthatTikTok is “a national security concern” because “it is beholden to the Chinese government.”', '“It has to do with the data, the recommendation algorithm, and the software,”Wray said in an NBC News interview.', '“The data, we’re talking about the ability to control or collect data on millions and millions of users, and to use it for all sorts of influence operations, like driving their AI efforts which are not remotely constrained by the rule of law.”', 'TikTok says it has never provided data to the Chinese government and has “invested billions of dollars to keep US data safe and our platform free from outside influence and manipulation.”', 'But legal experts saypotentialinfluence operations on TikTok, such as suppressing contenton the app, is not a persuasive argument that will stand up in court. (', 'TikTok has denied it suppresses content).', '“It’s less persuasive to say that the reason you’re going to ban the foreign platform is because you’re afraid of the messages that it communicates,” Persily said.', 'Krishnan said even the national security argument will notwithstand legal scrutinybecause the Chinese government could easily purchase the same data on Americans through the open market.', '“[The government is] not going to be able to satisfy that burden here, not only because much of this information is information that China could obtain through other means, but because the government could much more effectively protect American privacy by passing a comprehensive data privacy law,” she said.', 'TikTok’sloominglegal challenge will be one of severalthat could eventually reachthe US Supreme Court that could completely redefine online speech.', 'Otherhigh-profile casesthat will determine whethersocial media companiescan moderate content on their platforms are also likely to be decided this year.', '“The rules for online speech are being written by the Supreme Court this year,” Persily said.']",0.2236054094656963,"“[The government is] not going to be able to satisfy that burden here, not only because much of this information is information that China could obtain through other means, but because the government could much more effectively protect American privacy by passing a comprehensive data privacy law,” she said.","Last year, a federal judge halted a first-of-its-kind statewide ban on TikTokin Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”",0.0164237171411514,“We are confident and we will keep fighting for your rights in the courts.,"Last year, a federal judge halted a first-of-its-kind statewide ban on TikTokin Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”",2024-04-25
-BHP proposes £31bn takeover of Anglo American,https://www.bbc.co.uk/news/articles/czrxm4pljlwo,2024-04-25T02:10:41.618Z,"UK-based mining giant Anglo American has been approached by rival BHP about a potential £31bn takeover. Anglo American told the BBC that the proposal is currently being reviewed by its board of directors. BHP confirmed the proposal which it said would give it access to ""Anglo American's world class copper assets"". If the deal goes ahead it would be one of the mining industry's biggest mergers in many years. Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - had a stock market value of around £29bn before the approach was made public. Australian-based BHP is the world’s largest publicly listed mining company with a  market valuation of about A$229bn (£119.5bn). The move comes a year after BHP bought copper producer Oz Minerals for A$9.6bn. If finalised, the deal would increase BHP's access to copper, through Anglo American's operations in South America. The price of copper has risen on the global markets by more than 15% this year. Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""Anglo American's existing footprint in the copper industry is ultimately what lured a mining giant such as BHP,"" said Tim Waterer, chief market analyst at financial services firm KCM Trade. Anglo American's share price had fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added. Susannah Streeter from investment platform Hargreaves Lansdown said BHP's takeover plan ""will send a fresh chill through the City of London"". Anglo American is listed on the London Stock Exchange. BHP used to be listed in both the UK and Australia but in 2022 shifted its primary listing to Sydney. ""There are concerns that if the deal goes through it could be the tip of the iceberg and more giants could leave the exchange."" Anglo American's share price jumped by more than 12% to £24.86 in early trading on Thursday. BHP's proposal makes any offer conditional on Anglo American giving up its stakes in platinum and iron ore operations in South Africa. Under the UK's merger and acquisition rules, BHP has until the close of business on 22 May to make a formal offer for Anglo American.  ",BBC,25/04/2024,"['UK-based mining giant Anglo American has been approached by rival BHP about a potential £31bn takeover.', 'Anglo American told the BBC that the proposal is currently being reviewed by its board of directors.', 'BHP confirmed the proposal which it said would give it access to ""Anglo American\'s world class copper assets"".', ""If the deal goes ahead it would be one of the mining industry's biggest mergers in many years."", 'Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - had a stock market value of around £29bn before the approach was made public.', 'Australian-based BHP is the world’s largest publicly listed mining company with a market valuation of about A$229bn (£119.5bn).', 'The move comes a year after BHP bought copper producer Oz Minerals for A$9.6bn.', ""If finalised, the deal would increase BHP's access to copper, through Anglo American's operations in South America."", 'The price of copper has risen on the global markets by more than 15% this year.', 'Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""', 'Anglo American\'s existing footprint in the copper industry is ultimately what lured a mining giant such as BHP,"" said Tim Waterer, chief market analyst at financial services firm KCM Trade.', ""Anglo American's share price had fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added."", 'Susannah Streeter from investment platform Hargreaves Lansdown said BHP\'s takeover plan ""will send a fresh chill through the City of London"".', 'Anglo American is listed on the London Stock Exchange.', 'BHP used to be listed in both the UK and Australia but in 2022 shifted its primary listing to Sydney. ""', 'There are concerns that if the deal goes through it could be the tip of the iceberg and more giants could leave the exchange.""', ""Anglo American's share price jumped by more than 12% to £24.86 in early trading on Thursday."", ""BHP's proposal makes any offer conditional on Anglo American giving up its stakes in platinum and iron ore operations in South Africa."", ""Under the UK's merger and acquisition rules, BHP has until the close of business on 22 May to make a formal offer for Anglo American.""]",0.1516007605574018,"Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - had a stock market value of around £29bn before the approach was made public.",,0.3208411484956741,"Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""","Susannah Streeter from investment platform Hargreaves Lansdown said BHP's takeover plan ""will send a fresh chill through the City of London"".",2024-04-25
-EU raids offices of Chinese security equipment maker in subsidy probe,https://edition.cnn.com/2024/04/24/business/eu-china-subsidies-raids/index.html,"
-  Updated
-        5:39 AM EDT, Thu April 25, 2024
-    ","European Union officials have raided the offices of Chinese security equipment maker Nuctech as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners.
-    
-            The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies. It did not name the company.
-    
-            “The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website.
-    
-            Late Wednesday, Nuctech confirmed to CNN that its offices in Poland and the Netherlands were being inspected. The firm makes baggage security scanners for airports and other equipment. In 2020, the US government added Nuctech to a list of entities subject to stricter license requirements “for its involvement in activities that are contrary to the national security interests of the United States.”
-    
-            Nuctech said in a statement: “Nuctech is cooperating with the European Commission and is committed to defending its reputation of a fully independent and self-supporting economic operator.”
-    
-            The China Chamber of Commerce to the EU, whose members include Chinese state-owned and private firms, expressed its “strong dissatisfaction” about the raids, which it said had been conducted “without prior notice and without solid evidence.”
-    
-            “The European side manifested its intention to weaponize the Foreign Subsidies Regulation as a tool to suppress lawfully operating Chinese companies in Europe,” the lobby group said in a statement.
-    
-            In response, a spokesperson for the European Commission told CNN that officials carry out unannounced inspections on the basis of “substantiated indications” that the company in question may have been granted “distortive foreign subsidies benefitting its activities in the EU.”
-    
-            “An inspection is an investigative step which never pre-judges the outcome of the commission’s investigation,” the spokesperson added.
-    
-            The raids — the first under the EU’s new powers against excessive foreign subsidies — follow investigations launched recently by the bloc into China’s state support for its wind turbine firms and for Chinese companies bidding for a solar farm contract in Romania.
-    
-            The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.
-    
-            Tuesday’s raids also came on the same day the president of the European Commission said the Group of Seven developed economies was starting work to tackle imports resulting from “structural overproduction” elsewhere, “an overproduction that is achieved to a large extent by subsidies, massive subsidies.”
-    
-            “We have to be very vigilant that our producers are not at risk to be forced out of the market,” Ursula von der Leyen said in a speech.
-    
-            Although she did not mention China, there is growing evidence of tensions between the world’s biggest manufacturer and its major trading partners, including the EU and the United States, relating to an oversupply of cheap Chinese goods in foreign markets.
-    
-            “We are engaging with our G7 partners on this topic, given that it is a shared concern,” an EU official told CNN Wednesday, adding that the issue would be discussed at the G7 leaders summit in Puglia, Italy, in June.
-    
-            China’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.
-    
-            On a visit to China earlier this month, US Treasury Secretary Janet Yellen warned of the risk to jobs and businesses in the United States and elsewhere posed by overproduction of certain goods in the world’s second-largest economy. Her message was clear: China’s surging exports of electric vehicles, solar panels and batteries must be reined in.
-    
-            US Secretary of State Antony Blinken, who is currently visiting the country, raised concerns Thursday about China’s trade policies and “non-market economic practices” in a meeting with Shanghai’s Party Secretary Chen Jining, according to a US government spokesperson.
-    
-            Those worries were echoed by G7 foreign ministers at a meeting in Italy last week. “We are concerned that China’s non-market policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience,” they said in a statement.
-    
-            Beijing, for its part, sees exports as a key measure to revive China’s slowing economy. It is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies.
-    
-            Jennifer Hansler in Beijing contributed reporting.
-    
-            This article has been updated with additional information.",CNN,25/04/2024,"['European Union officials have raided the offices of Chinese security equipment maker Nuctech as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners.', 'The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies.', 'It did not name the company.', '“The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website.', 'Late Wednesday, Nuctech confirmed to CNN that its offices in Poland and the Netherlands were being inspected.', 'The firm makes baggage security scanners for airports and other equipment.', 'In 2020, the US government added Nuctech to a list of entities subject to stricter license requirements “for its involvement in activities that are contrary to the national security interests of the United States.”', 'Nuctech said in a statement: “Nuctech is cooperating with the European Commission and is committed to defending its reputation of a fully independent and self-supporting economic operator.”', 'The China Chamber of Commerce to the EU, whose members include Chinese state-owned and private firms, expressed its “strong dissatisfaction” about the raids, which it said had been conducted “without prior notice and without solid evidence.”', '“The European side manifested its intention to weaponize the Foreign Subsidies Regulation as a tool to suppress lawfully operating Chinese companies in Europe,” the lobby group said in a statement.', 'In response, a spokesperson for the European Commission told CNN that officials carry out unannounced inspections on the basis of “substantiated indications” that the company in question may have been granted “distortive foreign subsidies benefitting its activities in the EU.”', '“An inspection is an investigative step which never pre-judges the outcome of the commission’s investigation,” the spokesperson added.', 'The raids — the first under the EU’s new powers against excessive foreign subsidies — follow investigations launched recently by the bloc into China’s state support for its wind turbine firms and for Chinese companies bidding for a solar farm contractin Romania.', 'The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.', 'Tuesday’s raids also came on the same day the president of the European Commission said the Group of Seven developed economies was starting work to tackle imports resulting from “structural overproduction” elsewhere, “an overproduction that is achieved to a large extent by subsidies, massive subsidies.”', '“We have to be very vigilant that our producers are not at risk to be forced out of the market,” Ursula von der Leyen said in a speech.', 'Although she did not mention China, there is growing evidence of tensions between the world’s biggest manufacturer and its major trading partners, including the EU and the United States, relating to an oversupply of cheap Chinese goods in foreign markets.', '“We are engaging with our G7 partners on this topic, given that it is a shared concern,” an EU official told CNN Wednesday, adding that the issue would be discussed at the G7 leaders summit in Puglia, Italy, in June.', 'China’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.', 'On a visit to China earlier this month, US Treasury Secretary Janet Yellen warned of the risk to jobs and businesses in the United States and elsewhere posed by overproduction of certain goods in the world’s second-largest economy.', 'Her message was clear: China’s surging exports of electric vehicles, solar panels and batteries must be reined in.', 'US Secretary of State Antony Blinken, who is currently visiting the country, raised concerns Thursday about China’s trade policies and “non-market economic practices” in a meeting with Shanghai’s Party Secretary Chen Jining, according to a US government spokesperson.', 'Those worries were echoed by G7 foreign ministers at a meeting in Italy last week. “', 'We are concerned that China’s non-market policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience,” they said in a statement.', 'Beijing, for its part, sees exports as a key measure to revive China’s slowing economy.', 'It is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies.', 'Jennifer Hansler in Beijingcontributed reporting.', 'This article has been updated with additional information.']",0.1671652477451695,"In 2020, the US government added Nuctech to a list of entities subject to stricter license requirements “for its involvement in activities that are contrary to the national security interests of the United States.”",Those worries were echoed by G7 foreign ministers at a meeting in Italy last week. “,-0.3255670600467258,China’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.,"We are concerned that China’s non-market policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience,” they said in a statement.",2024-04-25
-Can superstars still bank on fans splurging for concerts like Taylor Swift and Beyoncé did last year?,https://edition.cnn.com/2024/04/20/economy/us-concert-spending-2024-predictions/index.html,"
-  Published
-        11:30 AM EDT, Sat April 20, 2024
-    ","Taylor Swift and Beyoncé raked in some serious concert money in 2023. This year, Swift is continuing her legacy tour and other pop stars such as Olivia Rodrigo and Bad Bunny are taking the stage as Americans are expected to continue spending on live music — though at a slower pace than they did last year.
-    
-            Americans splurged on concerts in 2023, selling out major stadiums and driving up hotel revenues. It was remarkable, given that inflation was elevated and interest rates were at their highest in two decades.
-    
-            Despite evidence of a slight slowdown this year, (ticket sales for the annual Coachella Valley Music and Arts festival were slower, joining other festivals seeing a similar slowdown in sales, according to Billboard,) there likely won’t be a sharp pullback anytime soon.
-    
-            The broader US economy is estimated to remain solid throughout 2024, with Federal Reserve officials expecting it to continue expanding and for unemployment to remain low (but edge higher), according to their latest economic projections.
-    
-            That means fans will have the disposable income needed to snag concert tickets as employers keep pumping out jobs and workers continue to command decent wage growth, according to economists.
-    
-            There has also been a long-term trend of people focusing their spending more on experiences, especially after the Covid-19 pandemic kept fans stuck at home for more than a year. Demand for concerts remains robust and experts say that musicians are capitalizing on that.
-    
-            “With the job market and economy holding strong, consumers could continue spending on these tours – and there’s certainly still demand,” Liz Anderson, a content strategist at jobs site Appcast, said in a statement to CNN. “And today’s biggest artists are successful businesspeople backed by huge teams of advisors. They aren’t stupid – they’re looking at the numbers and know when to capitalize on high demand.”
-    
-            Tickets to see Taylor Swift and Beyoncé last year weren’t cheap. That means many fans likely broke the bank in 2023 to see either (or both) of those two artists — in addition to other touring acts last year such as Bruce Springsteen and Coldplay.
-    
-            It stands to reason that those folks probably need to sit on the sidelines and save up some money or pay off their cards first before attending another pricey concert. Not to mention that inflation has continued to take a bite out of people’s budget these past few years.
-    
-            Beyoncé released “Cowboy Carter” on March 29, her eighth studio album featuring 27 tracks rooted in country music. Unsurprisingly, the album’s songs have already seen massive success, breaking streaming records and ranking highly on the Billboard Hot 100 chart.
-    
-            The pop icon hasn’t announced a tour to promote the album, but some fans have already begun to speculate on X, joking that she really ought to wait until next year. According to a Fed survey, consumers have indeed become more price sensitive in recent months.
-    
-            Swift released her eleventh studio album, “The Tortured Poets Department,” Friday, and it soared past Beyoncé’s streaming record in just a few hours, becoming Spotify’s most streamed album in a single day of 2024. Swift’s latest set of music was released a “double album,” consisting of 15 extra tracks. 
-    
-            But the economy is still humming along and those fans who might not have had enough dough last year to attend one of Beyoncé’s Renaissance tour show, might be able to afford tickets to see their favorite superstar live now.
-    
-            Consumer spending is powered by the job market, and US consumers won’t stop spending on concerts, unless they absolutely have to because they got laid off or employers are slamming the brakes on hiring, economists say. Neither has happened yet and there is no recession in sight.
-    
-            The United States is one the wealthiest countries in the world, as measured by gross domestic product per capita, according to the latest projections from the International Monetary Fund. It’s a trend that’s been decades in the making, improving the country’s standards of living, which is a key reason for why Americans have enough income to spend on experiences in the first place.
-    
-            “If you look at the last 60 years, that growth in wealth is really what has contributed to the middle class getting to a point where there’s a lot more disposable income used for experiences,” said Pawan Joshi, senior vice president of products and strategy at business software company E2open.
-    
-            “We’re going to be growing at a more modest rate, but I would say the resiliency and desire to continue to do what we do is going to always push us to attend these events and create more ways to entertain ourselves,” he added.
-    
-            Shutdowns during the pandemic and Americans who might have given up on saving for a costly down payment to buy a home, amid a persistently unaffordable housing market, could also be contributing to experiential consumer spending gaining steam.
-    
-            “The pandemic did result in a permanent shift in preferences, particularly for younger generations. People used to create a bucket list of what they’d want to handle during retirement, but now they’re saying ‘why wait until retirement?’” Jeanelle Johnson, partner and co-leader of the travel, transportation and hospitality sector at PricewaterhouseCoopers, previously told CNN.",CNN,20/04/2024,"['Taylor Swift and Beyoncé raked in some serious concert money in 2023.', 'This year, Swift is continuing her legacy tour and other pop stars such as Olivia Rodrigo and Bad Bunny are taking the stage as Americans are expected to continue spending on live music — though at a slower pace than they did last year.', 'Americans splurged on concerts in 2023, selling out major stadiums and driving up hotel revenues.', 'It was remarkable, given that inflation was elevated and interest rates were at their highest in two decades.', 'Despite evidence of a slight slowdown this year, (ticket sales for the annualCoachellaValley Music and Arts festivalwere slower, joining other festivals seeing a similar slowdown in sales, according toBillboard,) there likely won’t be a sharp pullback anytime soon.', 'The broader US economy is estimated to remain solid throughout 2024, with Federal Reserve officials expecting it to continue expanding and for unemployment to remain low (but edge higher), according to their latest economic projections.', 'That means fans will have the disposable income needed to snag concert tickets as employers keep pumping out jobs and workers continue to command decent wage growth, according to economists.', 'There has also been a long-term trend of people focusing their spending more on experiences, especially after the Covid-19 pandemic kept fans stuck at home for more than a year.', 'Demand for concerts remains robust and experts say that musicians are capitalizing on that.', '“With the job market and economy holding strong, consumers could continue spending on these tours – and there’s certainly still demand,” Liz Anderson, a content strategist at jobs site Appcast, said in a statement to CNN. “', 'And today’s biggest artists are successful businesspeople backed by huge teams of advisors.', 'They aren’t stupid – they’re looking at the numbers and know when to capitalize on high demand.”', 'Tickets to see Taylor Swift and Beyoncé last year weren’t cheap.', 'That means many fans likely broke the bank in 2023 to see either (or both) of those two artists — in addition to other touring acts last year such as Bruce Springsteen and Coldplay.', 'It stands to reason that those folks probably need to sit on the sidelines and save up some money or pay off their cards first before attending another pricey concert.', 'Not to mention that inflation has continued to take a bite out of people’s budget these past few years.', 'Beyoncé released “Cowboy Carter” on March 29, her eighth studio album featuring 27 tracks rooted in country music.', 'Unsurprisingly, the album’s songs have already seen massive success, breaking streaming records and ranking highly on the Billboard Hot 100 chart.', 'The pop icon hasn’t announced a tour to promote the album, but some fans have already begun to speculate on X, joking that she really ought to wait until next year.', 'According to a Fed survey, consumers have indeed become more price sensitive in recent months.', 'Swift released her eleventh studio album, “The Tortured Poets Department,” Friday, and it soared past Beyoncé’s streaming record in just a few hours, becoming Spotify’s most streamed album in a single day of 2024.', 'Swift’s latest set of music was released a “double album,” consisting of 15 extra tracks.', 'But the economy is still humming along and those fans who might not have had enough dough last year to attend one of Beyoncé’s Renaissance tour show, might be able to afford tickets to see their favorite superstar live now.', 'Consumer spending is powered by the job market, and US consumers won’t stop spending on concerts, unless they absolutely have to because they got laid off or employers are slamming the brakes on hiring, economists say.', 'Neither has happened yet and there is no recession in sight.', 'The United States is one the wealthiest countries in the world, as measured by gross domestic product per capita, according to the latest projections from the International Monetary Fund.', 'It’s a trend that’s been decades in the making, improving the country’s standards of living, which is a key reason for why Americans have enough income to spend on experiences in the first place.', '“If you look at the last 60 years, that growth in wealth is really what has contributed to the middle class getting to a point where there’s a lot more disposable income used for experiences,” said Pawan Joshi, senior vice president of products and strategy at business software company E2open.', '“We’re going to be growing at a more modest rate, but I would say the resiliency and desire to continue to do what we do is going to always push us to attend these events and create more ways to entertain ourselves,” he added.', 'Shutdowns during the pandemic and Americans who might have given up on saving for a costly down payment to buy a home, amid a persistently unaffordable housing market, could also be contributing to experiential consumer spending gaining steam.', '“The pandemic did result in a permanent shift in preferences, particularly for younger generations.', 'People used to create a bucket list of what they’d want to handle during retirement, but now they’re saying ‘why wait until retirement?’”', 'Jeanelle Johnson, partner and co-leader of the travel, transportation and hospitality sector at PricewaterhouseCoopers, previously told CNN.']",0.1631366812954061,"“We’re going to be growing at a more modest rate, but I would say the resiliency and desire to continue to do what we do is going to always push us to attend these events and create more ways to entertain ourselves,” he added.",Neither has happened yet and there is no recession in sight.,0.698522400856018,"That means fans will have the disposable income needed to snag concert tickets as employers keep pumping out jobs and workers continue to command decent wage growth, according to economists.","Despite evidence of a slight slowdown this year, (ticket sales for the annualCoachellaValley Music and Arts festivalwere slower, joining other festivals seeing a similar slowdown in sales, according toBillboard,) there likely won’t be a sharp pullback anytime soon.",2024-04-25
-Rishi Sunak's five promises: What progress has he made?,https://www.bbc.co.uk/news/65647308,2023-07-04T00:44:37.000Z,"On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities.  ""I fully expect you to hold my government and I to account on delivering those goals,"" he said. What progress has he made? The government's top priority was halving inflation - the increase in prices over time - by the end of 2023.  Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023.  The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods. The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge. The government has never publicly said what measure should be used to assess if it had met the prime minister's pledge to ""grow the economy"", despite repeated requests. In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September). That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession. Overall the economy grew by only 0.1% in the whole of 2023. Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals. On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth. He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy. I don't think any of us were expecting the economy to actually grow last year."" The pledge to grow the economy was made more difficult by the government's promise to halve inflation. The Bank of England put up interest rates 14 times to stop prices rising so quickly. However, this also reduced spending, and slowed economic growth.  When governments talk about reducing debt, it almost always mean as a proportion of GDP. The idea is that debt is coming down if it is growing more slowly than the economy. In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out. The latest figures for February showed that government debt stood at 97.1% of the size of the economy. That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"".   But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29). In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29. But it is going to be tight and will involve challenging spending restraint for some government departments.  When will we know? The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024.  Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly."" His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems. The overall number of waits for non-emergency treatment in England was 7.5 million in February.  Recent changes to the way that the waiting list is calculated mean we cannot say whether it was higher or lower than in January. The figure had fallen for the previous four months. It is now about 200,000 down from September, but about 300,000 higher than it was when Mr Sunak came to office. The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have."" He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact."" Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000. When will we know?: Monthly waiting list figures are published about six weeks after the end of each month.  The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022. The prime minister proposed to do this through new legislation. The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally. The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.  In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring Rwanda a safe country.  The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024. In April 2024, it was bouncing between the Lords and the Commons as amendments were made by peers and rejected by MPs. Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"". In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year.  So far in 2024, 6,265 people have been detected, which is up a quarter from the same period last year. When will we know? Figures on arrivals in small boats are collected daily.  CORRECTION 22 APRIL: The waiting list section was changed to reflect methodological changes in February 2024 data as well as incomplete data from September 2023. What do you want BBC Verify to investigate? ",BBC,04/07/2023,"['On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities. ""', 'I fully expect you to hold my government and I to account on delivering those goals,"" he said.', 'What progress has he made?', ""The government's top priority was halving inflation - the increase in prices over time - by the end of 2023."", 'Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023.', 'The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods.', 'The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge.', 'The government has never publicly said what measure should be used to assess if it had met the prime minister\'s pledge to ""grow the economy"", despite repeated requests.', 'In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September).', 'That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession.', 'Overall the economy grew by only 0.1% in the whole of 2023.', 'Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals.', 'On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth.', 'He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy.', 'I don\'t think any of us were expecting the economy to actually grow last year.""', ""The pledge to grow the economy was made more difficult by the government's promise to halve inflation."", 'The Bank of England put up interest rates 14 times to stop prices rising so quickly.', 'However, this also reduced spending, and slowed economic growth.', 'When governments talk about reducing debt, it almost always mean as a proportion of GDP.', 'The idea is that debt is coming down if it is growing more slowly than the economy.', 'In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out.', 'The latest figures for February showed that government debt stood at 97.1% of the size of the economy.', 'That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"".', 'But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).', 'In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29.', 'But it is going to be tight and will involve challenging spending restraint for some government departments.', 'When will we know?', 'The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024.', 'Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly.""', 'His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems.', 'The overall number of waits for non-emergency treatment in England was 7.5 million in February.', 'Recent changes to the way that the waiting list is calculated mean we cannot say whether it was higher or lower than in January.', 'The figure had fallen for the previous four months.', 'It is now about 200,000 down from September, but about 300,000 higher than it was when Mr Sunak came to office.', 'The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have.""', 'He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact.""', 'Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000.', 'When will we know?:', 'Monthly waiting list figures are published about six weeks after the end of each month.', 'The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022.', 'The prime minister proposed to do this through new legislation.', 'The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally.', 'The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.', 'In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring Rwanda a safe country.', 'The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024.', 'In April 2024, it was bouncing between the Lords and the Commons as amendments were made by peers and rejected by MPs.', 'Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"".', 'In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year.', 'So far in 2024, 6,265 people have been detected, which is up a quarter from the same period last year.', 'When will we know?', 'Figures on arrivals in small boats are collected daily.', 'CORRECTION 22 APRIL: The waiting list section was changed to reflect methodological changes in February 2024 data as well as incomplete data from September 2023.', 'What do you want BBC Verify to investigate?']",-0.0387863985104186,The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.,But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).,-0.0305155897140502,"So far in 2024, 6,265 people have been detected, which is up a quarter from the same period last year.",The figure had fallen for the previous four months.,2024-04-25
-Bilt’s March Rent Day promotion: Vote for your favorite benefit with the Bilt Bracket,https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion,"
-  Updated
-        10:57 AM EST, Mon February 26, 2024
-    ","The relatively new Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception. With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.
-    
-            And in addition to their strong program, Bilt Rewards — the loyalty program behind the Bilt Mastercard — also offers some favorable promotions throughout the year, with the most popular known as Rent Day.
-    
-            With Bilt’s Rent Day promotion — which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month. Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.
-    
-            Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one. Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.
-    
-            A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit. Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round. The last standing offer will then be the Rent Day benefit on March 1.
-    
-            And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).
-    
-            Let’s take a closer look at how this bracket will work and the Rent Day offer options.
-    
-            For four days straight — between Feb. 26 and Feb. 29 — Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com. There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.
-    
-            The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.
-    
-            However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer, giving select members two bonus opportunities on Rent Day.
-    
-            With 16 different offers, some are significantly better than others. Although, the best offer for you might truly depend on how you engage in the Bilt program. Check the Bilt app or website to see the full list of promotions you can vote on.
-    
-            For me, the offers that allow me to earn bonus points on specific purchases — such as bonus points at Bilt Dining restaurants — will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.
-    
-            Voting is incredible quick and can easily be completed alongside your morning coffee. Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.
-    
-            On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games. Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.
-    
-            You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority. This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m.
-    
-            Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).
-    
-            So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar. But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).
-    
-            Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions. Let’s see which bonus offer wins this month.
-    
-            Learn more and apply now for the Bilt Mastercard.
-    
-            Find out which cards CNN Underscored Money chose as the best credit cards currently available.",CNN,26/02/2024,"['The relatively new Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception.', 'With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month.', 'Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.', 'Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one.', 'Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.', 'A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit.', 'Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round.', 'The last standing offer will then be the Rent Day benefit on March 1.', 'And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).', 'Let’s take a closer look at how this bracket will work and the Rent Day offer options.', 'For four days straight —between Feb. 26 and Feb. 29 —Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com.', 'There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.', 'The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.', 'However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer,giving select members two bonus opportunities on Rent Day.', 'With 16 different offers, some are significantly better than others.', 'Although, the best offer for you might truly depend on how you engage in the Bilt program.', 'Check the Bilt app or website to see the full list of promotions you can vote on.', 'For me, the offers that allow me to earn bonus points on specific purchases —such as bonus points at Bilt Dining restaurants —will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.', 'Voting is incredible quick and can easily be completed alongside your morning coffee.', 'Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.', 'On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games.', 'Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.', 'You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority.', 'This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m.  Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).', 'Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions.', 'Let’s see which bonus offer wins this month.', 'Learn more and apply now for the Bilt Mastercard.', 'Find out which cards CNN Underscored Money chose as the best credit cardscurrently available.']",0.5132379666371525,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,0.9566517621278764,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,2024-04-25
-Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html,"
-  Published
-        7:49 AM EDT, Wed April 27, 2022
-    ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales.
-    
-            Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag.
-    
-            “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.
-    
-            He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.
-    
-            Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. 
-    
-            “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” 
-    
-            Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.
-    
-            “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone.
-    
-            “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” 
-    
-            This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.
-    
-            The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.
-    
-            Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.
-    
-            Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.
-    
-            Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.
-    
-            Although its slice is growing, the market share for man-made diamonds remains relatively small.
-    
-            Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. 
-    
-            Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora
-            
-                (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. 
-    
-            Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.
-    
-            Signet,
-            
-                (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.
-    
-            Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. 
-    
-            The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. 
-    
-            Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.
-    
-            “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”
-    
-            Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.
-    
-            There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. 
-    
-            So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. 
-    
-            But the value of a ring isn’t just monetary.
-    
-            “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora  (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet,  (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-04-25
-Investors are fearful. They shouldn’t be,https://edition.cnn.com/2024/04/22/investing/premarket-stocks-trading/index.html,"
-  Published
-        7:25 AM EDT, Mon April 22, 2024
-    ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.
-    
-            Call it an April slump.
-    
-            Faltering tech stocks, fears that the Federal Reserve will keep interest rates higher for longer and geopolitical conflict have led to a sharp drop in US markets this month. CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, is displaying a solid “fear” reading, down from “greed” just a month ago.
-    
-            But Philipp Carlsson-Szlezak, Boston Consulting Group’s global chief economist, thinks there’s too much doomsaying on Wall Street. The economy has been extraordinarily resilient for the past few years — consistently proving the naysayers wrong, he says. For all of the market gloom last week, stocks are still near all-time highs, and this earnings season has been strong.
-    
-            Carlsson-Szlezak, who co-authored a book on pervasive economic doomsaying, told Before the Bell that the Federal Reserve’s wait-and-see approach to inflation and interest rate cuts should be a vote of confidence for this economy and that recession fears are far off from reality.
-    
-            Read our full conversation below.
-    
-            This interview has been lightly edited for length and clarity.
-    
-            Before the Bell: You literally wrote the book on economic doomsaying. Investors have been worrying about the Federal Reserve keeping rates higher for longer. Are their fears overblown?
-    
-            Philipp Carlsson-Szlezak: We’re seeing expectations reset — the forecast for six rate cuts this year has vanished, now it’s less than two. The fact that markets are off about 4% relative to that news is not out of the ordinary.
-    
-            These inflation prints are actually an extreme expression of underlying strength. The vanishing rate cut expectations, well, they’re also an expression of strength. If we had to rush to cut rates to prop up the economy, that would be bad. We can wait because this economy is booming and running ahead.
-    
-            The market volatility, in my view, is a confirmation that those rate cuts aren’t coming as fast as was hoped and dreamed about.
-    
-            But valuations are very high, and the markets are still near record highs. I speak with many institutional investors, and I don’t see them folding in fear. I think the market would look different if that were the case.
-    
-            What about geopolitical worries? 
-    
-            It’s so easy to focus on predictions of a dire meltdown. We have a war in Europe, that is an enormous shift in the geopolitical landscape, an enormous humanitarian shock and an enormous disruption to the European business order. And there is no recession. Isn’t that telling us something about how high the bar can be for geopolitics to flow directly through to the macroeconomy?
-    
-            A similar point can be made about rising tensions in the Middle East. So far, they have not pushed down a major Western economy. They have the potential to do so, and this is the difficulty with geopolitical risk. If that feeds into an oil price rally and a sharp movement in the oil market, we’re talking about something different. But recall that at the start of the Ukraine war, oil also went up a lot. And did we get a recession in the US from that? Did it pull down the growth numbers in the US? It did not.
-    
-            I’m not saying there isn’t a risk. And I’m not saying we should look away and shrug off these many geopolitical crises. They all have the potential to magnify and amplify and grow.
-    
-            But it’s not really possible to say that the real economy has taken a hit from either war in either Ukraine or the Middle East.
-    
-            Are investors paying too much attention to swings in monthly economic data? 
-    
-            Some of the short-term predictability and forecast ability for the economy is very poor. Economics isn’t really constructed like a natural science in that way.
-    
-            But I quibble with the notion that markets can’t look through this. As I’ve said, we’re still near record numbers in the equity market. If you believed all the doomsaying about impending stumbles and the economy falling off a cliff edge, then we wouldn’t have these valuations and these prices in various financial markets.
-    
-            Markets have to react to something. Somebody prices everything at the margin. Of course there’s a reaction to data flow. But I don’t think, for example, that the three consecutive months of inflation surprises to the upside have pushed the equity market into a reset or a correction.
-    
-            So what comes next? We can’t stave off a cyclical recession forever. 
-    
-            When will the next recession be? You and I both know, that’s so hard to pinpoint, but I don’t think it will be in 2024. It would take a big shock to deliver a recession this year.
-    
-            What are some economic themes you’re watching in the back half of 2024? 
-    
-            I think we’re still likely to get a rate cut or two. The labor market has cooled. It hasn’t cooled as much as it was expected to, but job openings are down. I also think consumers will continue to be in a position to spend.
-    
-            The US consumption economy is diversified between goods and services and that diversification has provided a steady floor for us. When services were weak, goods were exceptionally strong. Now that goods are off their overshoots, services are back to trend and carrying the day. So I see little reason to think there is a pocket of weakness that will tear down the whole consumption story.
-    
-            There are gyrations under the hood, but when you look at the aggregates, it adds up to great numbers.
-    
-            A potential US ban against TikTok took a major step toward becoming reality on Saturday as House lawmakers approved a hot-button bill targeting the app as part of a wide-ranging aid package for Israel and Ukraine, reports my colleague Brian Fung.
-    
-            The bipartisan vote of 360-58 marks the latest defeat for TikTok in Washington, as the embattled social media company with 170 million US users fights for survival under its current ownership by ByteDance, its Chinese parent company.
-    
-            The bill passed by the House this weekend closely resembles an earlier version approved in March that would ban TikTok from US app stores unless it finds a new owner, and quickly.
-    
-            Policy analysts expect the Senate to take up the aid package quickly, giving it high odds of passage. And President Joe Biden has previously said he would sign the TikTok legislation if it reaches his desk.
-    
-            Tesla has been ordered to recall nearly 4,000 of its Cybertrucks due to an accelerator pedal that can stick in place when pressed down, report my colleagues Chris Isidore and Peter Valdes-Dapena.
-    
-            The cause, according to the regulator: soap.
-    
-            “An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.
-    
-            Tesla has yet to detail how many of the futuristic looking Cybertrucks it has produced. But it has said that it would be slow ramping up production of the vehicle, which had its first deliveries in late November.
-    
-            The NHTSA said the recall affects “all Model Year (‘MY’) 2024 Cybertruck vehicles manufactured from November 13, 2023, to April 4, 2024.”
-    
-            That means the 3,878 trucks being recalled are likely many, if not all, of the trucks now on US roads.
-    
-            Unlike many Tesla recalls, this one cannot be fixed with a simple over-the-air software update. Tesla will have to have owners respond to letters and bring the Cybertrucks into its service centers for a repair at no charge.",CNN,22/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'Call it an April slump.', 'Faltering tech stocks, fears that the Federal Reserve will keep interest rates higher for longer and geopolitical conflict have led to a sharp drop in US markets this month.', 'CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, is displaying a solid “fear” reading, down from “greed” just a month ago.', 'But Philipp Carlsson-Szlezak, Boston Consulting Group’s global chief economist, thinks there’s too much doomsaying on Wall Street.', 'The economy has been extraordinarily resilient for the past few years — consistently proving the naysayers wrong, he says.', 'For all of the market gloom last week, stocks are still near all-time highs, and this earnings season has been strong.', 'Carlsson-Szlezak, who co-authored a book on pervasive economic doomsaying, told Before the Bell that the Federal Reserve’s wait-and-see approach to inflation and interest rate cuts should be a vote of confidence for this economy and that recession fears are far off from reality.', 'Read our full conversation below.', 'This interview has been lightly edited for length and clarity.', 'Before the Bell: You literally wrote the book on economic doomsaying.', 'Investors have been worrying about the Federal Reserve keeping rates higher for longer.', 'Are their fears overblown?', 'Philipp Carlsson-Szlezak: We’re seeing expectations reset — the forecast for six rate cuts this year has vanished, now it’s less than two.', 'The fact that markets are off about4% relative to that news is not out of the ordinary.', 'These inflation prints are actually an extreme expression of underlying strength.', 'The vanishing rate cut expectations, well, they’re also an expression of strength.', 'If we had to rush to cut rates to prop up the economy, that would be bad.', 'We can wait because this economy is booming and running ahead.', 'The market volatility, in my view, is a confirmation that those rate cuts aren’t coming as fast as was hoped and dreamed about.', 'But valuations are very high, and the markets are still near record highs.', 'I speak with many institutional investors, and I don’t see them folding in fear.', 'I think the market would look different if that were the case.', 'What about geopolitical worries?', 'It’s so easy to focus on predictions of a dire meltdown.', 'We have a war in Europe, that is an enormous shift in the geopolitical landscape, an enormous humanitarian shock and an enormous disruption to the European business order.', 'And there is no recession.', 'Isn’t that telling us something about how high the bar can be for geopolitics to flow directly through to the macroeconomy?', 'A similar point can be made about rising tensions in the Middle East.', 'So far, they have not pushed down a major Western economy.', 'They have the potential to do so, and this is the difficulty with geopolitical risk.', 'If that feeds into an oil price rally and a sharp movement in the oil market, we’re talking about something different.', 'But recall that at the start of the Ukraine war, oil also went up a lot.', 'And did we get a recession in the US from that?', 'Did it pull down the growth numbers in the US?', 'It did not.', 'I’m not saying there isn’t a risk.', 'And I’m not saying we should look away and shrug off these many geopolitical crises.', 'They all have the potential to magnify and amplify and grow.', 'But it’s not really possible to say that the real economy has taken a hit from either war in either Ukraine or the Middle East.', 'Are investors paying too much attention to swings in monthly economic data?', 'Some of the short-term predictability and forecast ability for the economy is very poor.', 'Economics isn’t really constructed like a natural science in that way.', 'But I quibble with the notion that markets can’t look through this.', 'As I’ve said, we’re still near record numbers in the equity market.', 'If you believed all the doomsaying about impending stumbles and the economy falling off a cliff edge, then we wouldn’t have these valuations and these prices in various financial markets.', 'Markets have to react to something.', 'Somebody prices everything at the margin.', 'Of course there’s a reaction to data flow.', 'But I don’t think, for example, that the three consecutive months of inflation surprises to the upside have pushed the equity market into a reset or a correction.', 'So what comes next?', 'We can’t stave off a cyclical recession forever.', 'When will the next recession be?', 'You and I both know, that’s so hard to pinpoint, but I don’t think it will be in 2024.', 'It would take a big shock to deliver a recession this year.', 'What are some economic themes you’re watching in the back half of 2024?', 'I think we’re still likely to get a rate cut or two.', 'The labor market has cooled.', 'It hasn’t cooled as much as it was expected to, but job openings are down.', 'I also think consumers will continue to be in a position to spend.', 'The US consumption economy is diversified between goods and services and that diversification has provided a steady floor for us.', 'When services were weak, goods were exceptionally strong.', 'Now that goods are off their overshoots, services are back to trend and carrying the day.', 'So I see little reason to think there is a pocket of weakness that will tear down the whole consumption story.', 'There are gyrations under the hood, but when you look at the aggregates, it adds up to great numbers.', 'A potential US ban against TikTok took a major step toward becoming reality on Saturday as House lawmakers approved a hot-button bill targeting the app as part of a wide-ranging aid package for Israel and Ukraine, reports my colleague Brian Fung.', 'The bipartisan vote of 360-58 marks the latest defeat for TikTok in Washington, as the embattled social media company with 170 million US users fights for survival under its current ownership by ByteDance, its Chinese parent company.', 'The bill passed by the House this weekendclosely resemblesan earlier versionapproved in Marchthat would ban TikTok from US app stores unless it finds a new owner, and quickly.', 'Policy analysts expect the Senate to take up the aid package quickly, giving it high odds of passage.', 'And President Joe Biden has previously said he would sign the TikTok legislation if it reaches his desk.', 'Tesla has beenordered to recall nearly 4,000 of its Cybertrucksdue to an accelerator pedal that can stick in place when pressed down, report my colleagues Chris IsidoreandPeter Valdes-Dapena.', 'The cause, according to the regulator: soap.', '“An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal.', 'Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.', 'Tesla has yet to detail how many of the futuristic looking Cybertrucks it has produced.', 'But it has said that it would be slow ramping up production of the vehicle,which had itsfirst deliveriesin late November.', 'The NHTSA said the recall affects “all Model Year (‘MY’) 2024 Cybertruck vehicles manufactured from November 13, 2023, to April 4, 2024.”', 'That means the 3,878 trucks being recalled are likely many, if not all, of the trucks now on US roads.', 'Unlike many Tesla recalls, this one cannot be fixed with a simple over-the-air software update.', 'Tesla will have to have owners respond to letters and bring the Cybertrucks into its service centers for a repair at no charge.']",-0.1373085658384485,"There are gyrations under the hood, but when you look at the aggregates, it adds up to great numbers.","CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, is displaying a solid “fear” reading, down from “greed” just a month ago.",-0.114442168247132,"For all of the market gloom last week, stocks are still near all-time highs, and this earnings season has been strong.","CNN’s Fear & Greed Index, which measures seven barometers of market sentiment, is displaying a solid “fear” reading, down from “greed” just a month ago.",2024-04-25
-Oil and gold prices ease as Iran downplays attack,https://www.bbc.co.uk/news/articles/c2vwl91qe6do,2024-04-19T03:41:52.149Z,"Oil and gold prices have eased after Iranian authorities appeared to downplay reports of an attack from Israel. Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack. Gold briefly came close to a record high before settling below $2,400 an ounce. There are concerns a worsening conflict in the Middle East could disrupt oil supplies. Investors have been closely watching Israel’s reaction to Iran's direct drone and missile attack last weekend. Oil prices had jumped by as much as 3.5% initially. But Brent then fell back to roughly $87 a barrel after Iranian state media claimed that there was ""no damage"" in Isfahan province where there had been reports of explosions.  Sharp and sustained rises in oil prices risk fuelling inflation. Countries are heavily reliant on the commodity, which is used to produce fuels such as petrol and diesel. Fuel and energy prices have been a major driver behind the higher cost of living worldwide in the past couple of years. Randeep Somel, fund manager at M&G Investment Management, told the BBC's Today programme: ""The concern for markets would mainly be the inflationary one, that this would actually add to inflation."" While the pace of inflation has been slowing, in the UK it is still above the Bank of England's 2% target and some economists have forecast that a cut to interest rates may not happen until summer or later on in the year.   ""In the UK, the inflation rates is still around 3.2% - still someway off the target – and it is becoming a bit of a concern for policy makers,"" said Mr Somel. ""It is good to see that this hasn’t escalated any further and that hopefully the disruption to markets is short-lived.” The price of Brent is far below the heights reached after Russia invaded Ukraine in February 2022 when a number of major economies imposed sanctions on the oil-producing nation. Oil hit $125 a barrel in the weeks that followed, leading to a sustained period of higher household energy bills. The gold price often rises at times of uncertainty as it is seen as a safe investment. The heightened tension in the Middle East has led to concerns about whether shipping through the Strait of Hormuz between Oman and Iran will be affected. It is a crucial shipping route, as about 20% of the world's total oil supply passes through it. Members of the oil producers' cartel Opec - Saudi Arabia, Iran, the UAE, Kuwait and Iraq - send most of the oil they export through the strait. Iran is the seventh largest oil producer in the world, according to the US Energy Information Administration, and the third-largest member of Opec. The initial spike in oil prices was ""a knee-jerk reaction to fears of a renewed escalation of warfare between Israel and Iran,"" said energy market expert Vandana Hari of Vanda Insights. ""What the latest events underscore is the heightened fragility and volatility in the Mid East situation,"" she added. Stock markets were mixed as investors reacted to the latest events.  In the US, the Dow Jones Industrial Average was roughly 0.5% higher in mid-day trade, while the S&P 500 fell 0.5% and the Nasdaq was down 1.3%. In the UK, the FTSE 100 share index closed 0.2% higher while the FTSE 250 ended down 0.3%. In Asia, Japan's Nikkei 225 index fell 2.7%, while Hong Kong's Hang Seng dropped 0.9%.   ",BBC,19/04/2024,"['Oil and gold prices have eased after Iranian authorities appeared to downplay reports of an attack from Israel.', 'Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack.', 'Gold briefly came close to a record high before settling below $2,400 an ounce.', 'There are concerns a worsening conflict in the Middle East could disrupt oil supplies.', ""Investors have been closely watching Israel’s reaction to Iran's direct drone and missile attack last weekend."", 'Oil prices had jumped by as much as 3.5% initially.', 'But Brent then fell back to roughly $87 a barrel after Iranian state media claimed that there was ""no damage"" in Isfahan province where there had been reports of explosions.', 'Sharp and sustained rises in oil prices risk fuelling inflation.', 'Countries are heavily reliant on the commodity, which is used to produce fuels such as petrol and diesel.', 'Fuel and energy prices have been a major driver behind the higher cost of living worldwide in the past couple of years.', 'Randeep Somel, fund manager at M&G Investment Management, told the BBC\'s Today programme: ""The concern for markets would mainly be the inflationary one, that this would actually add to inflation.""', 'While the pace of inflation has been slowing, in the UK it is still above the Bank of England\'s 2% target and some economists have forecast that a cut to interest rates may not happen until summer or later on in the year. ""', 'In the UK, the inflation rates is still around 3.2% - still someway off the target – and it is becoming a bit of a concern for policy makers,"" said Mr Somel. ""', 'It is good to see that this hasn’t escalated any further and that hopefully the disruption to markets is short-lived.”', 'The price of Brent is far below the heights reached after Russia invaded Ukraine in February 2022 when a number of major economies imposed sanctions on the oil-producing nation.', 'Oil hit $125 a barrel in the weeks that followed, leading to a sustained period of higher household energy bills.', 'The gold price often rises at times of uncertainty as it is seen as a safe investment.', 'The heightened tension in the Middle East has led to concerns about whether shipping through the Strait of Hormuz between Oman and Iran will be affected.', ""It is a crucial shipping route, as about 20% of the world's total oil supply passes through it."", ""Members of the oil producers' cartel Opec - Saudi Arabia, Iran, the UAE, Kuwait and Iraq - send most of the oil they export through the strait."", 'Iran is the seventh largest oil producer in the world, according to the US Energy Information Administration, and the third-largest member of Opec.', 'The initial spike in oil prices was ""a knee-jerk reaction to fears of a renewed escalation of warfare between Israel and Iran,"" said energy market expert Vandana Hari of Vanda Insights. ""', 'What the latest events underscore is the heightened fragility and volatility in the Mid East situation,"" she added.', 'Stock markets were mixed as investors reacted to the latest events.', 'In the US, the Dow Jones Industrial Average was roughly 0.5% higher in mid-day trade, while the S&P 500 fell 0.5% and the Nasdaq was down 1.3%.', 'In the UK, the FTSE 100 share index closed 0.2% higher while the FTSE 250 ended down 0.3%.', ""In Asia, Japan's Nikkei 225 index fell 2.7%, while Hong Kong's Hang Seng dropped 0.9%.""]",-0.0808273015102537,It is good to see that this hasn’t escalated any further and that hopefully the disruption to markets is short-lived.”,"But Brent then fell back to roughly $87 a barrel after Iranian state media claimed that there was ""no damage"" in Isfahan province where there had been reports of explosions.",-0.5883180839674813,Oil prices had jumped by as much as 3.5% initially.,"Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack.",2024-04-25
-Meta AI spending plans cause share price slump,https://www.bbc.co.uk/news/articles/cl40v5x483yo,2024-04-24T21:10:00.133Z,"Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI). They went down more than 15% in after-hours trading in New York despite the tech giant revealing strong earnings figures. Boss Mark Zuckerberg said it would take some time before its huge AI investment increased revenues. Meta also said its X rival, Threads, now has more than 150 million monthly active users, increasing the pressure on the Elon Musk-owned platform. ""Threads is well on its way to beating X by becoming the Twitter alternative users and advertisers are longing for,"" said Mike Proulx, from analysts Forrester. He also said Meta stood to gain from TikTok's possible sale or ban in the US - a development the app has vowed to fight. Meta has been updating its ad-buying products with AI tools to boost earnings growth. It has also been introducing more AI features on its social media platforms such as chat assistants. The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn. For investors, that outweighed the positive news on earnings. First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn. Analysts though said there was a logic to Meta's approach. Sophie Lund-Yates, from Hargreaves Lansdown, said Meta's ""substantial investment"" in AI has helped it get people to spend time on its platforms, so advertisers were willing to spend more money ""in a time when digital advertising uncertainty remains rife"". More than 50 countries are due to have elections this year, she said, ""which hugely increases uncertainty"" and can spook advertisers. Ms Lund-Yates said that ""looking further ahead, the biggest risk [for Meta] remains regulatory"". Last year, Meta was fined €1.2bn (£1bn) by Ireland's data authorities for mishandling people's data when transferring it between Europe and the US. And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation. Ms Lund-Yates added that the firm has ""more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment"". ",BBC,24/04/2024,"['Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI).', 'They went down more than 15% in after-hours trading in New York despite the tech giant revealing strong earnings figures.', 'Boss Mark Zuckerberg said it would take some time before its huge AI investment increased revenues.', 'Meta also said its X rival, Threads, now has more than 150 million monthly active users, increasing the pressure on the Elon Musk-owned platform. ""', 'Threads is well on its way to beating X by becoming the Twitter alternative users and advertisers are longing for,"" said Mike Proulx, from analysts Forrester.', ""He also said Meta stood to gain from TikTok's possible sale or ban in the US - a development the app has vowed to fight."", 'Meta has been updating its ad-buying products with AI tools to boost earnings growth.', 'It has also been introducing more AI features on its social media platforms such as chat assistants.', 'The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.', 'For investors, that outweighed the positive news on earnings.', 'First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.', ""Analysts though said there was a logic to Meta's approach."", 'Sophie Lund-Yates, from Hargreaves Lansdown, said Meta\'s ""substantial investment"" in AI has helped it get people to spend time on its platforms, so advertisers were willing to spend more money ""in a time when digital advertising uncertainty remains rife"".', 'More than 50 countries are due to have elections this year, she said, ""which hugely increases uncertainty"" and can spook advertisers.', 'Ms Lund-Yates said that ""looking further ahead, the biggest risk [for Meta] remains regulatory"".', ""Last year, Meta was fined €1.2bn (£1bn) by Ireland's data authorities for mishandling people's data when transferring it between Europe and the US."", 'And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.', 'Ms Lund-Yates added that the firm has ""more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment"".']",0.0464174435548974,"Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI).",He also said Meta stood to gain from TikTok's possible sale or ban in the US - a development the app has vowed to fight.,0.287859776190349,"First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.","Shares in Meta - the owner of Facebook, WhatsApp and Instagram - fell sharply after it announced higher than expected spending on artificial intelligence (AI).",2024-04-25
-Columbia president Minouche Shafik faces criticism in all directions,https://edition.cnn.com/2024/04/25/business/minouche-shafik-columbia-president/index.html,"
-  Published
-        1:44 PM EDT, Thu April 25, 2024
-    ","When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees.
-    
-            Now, some of her own students and professors, as well as the speaker of the House of Representatives, are calling on her to resign.
-    
-            Just over nine months into her tenure, Shafik — an Egyptian-born economist and former high-ranking official at the World Bank, International Monetary Fund and Bank of England, and former president of the London School of Economics — is under pressure for her handling of Columbia campus protests over the war between Israel and Hamas.
-    
-            College administrators have been under intense scrutiny in the wake of the Israel-Hamas war. University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus.
-    
-            At Columbia, some students, faculty and left-leaning lawmakers are enraged that Shafik authorized the New York Police Department to shut down student protests on campus that have been urging the university to cut off its economic and academic ties to Israel. They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom. At the same time, students, religious groups and right-leaning lawmakers say the administration has failed to stop antisemitism inside Columbia’s campus and at protests outside its gates.
-    
-            “Calling in police enforcement on nonviolent demonstrations of young students on campus is an escalatory, reckless, and dangerous act,” Democratic Rep. Alexandra Ocasio-Cortez posted on X Tuesday. “It represents a heinous failure of leadership that puts people’s lives at risk. I condemn it in the strongest possible terms.”
-    
-            The Republican House speaker, Rep. Mike Johnson, called on Shafik to resign during a tense press conference Wednesday at Columbia. “I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said.
-    
-            “These are incredibly difficult situations for a university president, especially someone who is not tested over time,” said James Finkelstein, a professor emeritus of public policy at George Mason University who studies the selection and employment of university presidents.
-    
-            “She’s at serious risk of being able to survive this,” Finkelstein added. “The likelihood of her keeping her job is at best 50-50.”
-    
-            Columbia’s Board of Trustees is standing by Shafik, saying it “strongly supports” Shafik as she “steers the university through this extraordinarily challenging time.”
-    
-            “During the search process for this role, President Shafik told us that she would always take a thoughtful approach to resolving conflict, balancing the disparate voices that make up a vibrant campus like Columbia’s, while taking a firm stance against hatred, harassment, and discrimination,” the board said in a statement Wednesday. “That’s exactly what she’s doing now.”
-    
-            Shafik has now drawn comparisons to former Columbia president Grayson Kirk, who in 1968 called in 1,000 police officers in riot gear to quell students protesting the Vietnam War, Columbia’s role in military research and its relationship to the Harlem community.
-    
-            Kirk resigned later that year.
-    
-            Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus. Police arrested more than 100 people on suspicion of criminal trespassing, and Columbia suspended students participating in the protest encampment.
-    
-            “Columbia itself has its own traditions and memories of bringing police on campus,” Finkelstein said. “You have a historically activist faculty and student body.”
-    
-            Shafik’s decision to authorize the NYPD to arrest protestors “suggests to me being very insensitive to the history of the institution,” he said.
-    
-            Some Columbia faculty members have denounced Shafik’s decision to authorize the NYPD to remove protesters from campus and demanded all legal and disciplinary charges be dismissed and expunged from students’ records. The faculty voted to submit a symbolic measure censuring Shafik for her decision to authorize the NYPD, which they said was an “unprecedented assault on student rights.”
-    
-            Shafik has denounced antisemitism, urged students to report incidents of discrimination and said hateful speech and acts against Jews would be investigated by the university since Hamas’ attack on civilians in Israel on October 7.
-    
-            On November 1, she announced the formation of a university task force on antisemitism.
-    
-            During congressional testimony last week, Shafik said students and faculty have been disciplined for antisemitism and that more work was needed to combat antisemitism.
-    
-            Still, Shafik and the university administration are under fire for their response to antisemitism and to Islamophobia, as well.
-    
-            Last fall, a Columbia student who was hanging posters on campus in support of Israel was assaulted. The university has also faced criticism for hiring a professor who allegedly expressed support for Hamas on social media following the October 7 terror attack on Israel. That professor has been fired, Shafik said last Wednesday.
-    
-            The Department of Education is investigating Columbia, UPenn, Harvard and four other schools after complaints about alleged incidents of antisemitism and Islamophobia. At the conclusion of the investigations, the Department of Education will make recommendations to the schools. The schools risk losing federal funding if they don’t comply.
-    
-            Some Jewish students have described being verbally and physically harassed on campus, and there have been incidents outside of Columbia’s campus of antisemitism.
-    
-            Columbia’s Hillel group has called on the university to do more to protect students and ensure that students can walk around campus without fear of harassment.
-    
-            Some major donors, Republican lawmakers and a handful of Democratic lawmakers have said these incidents show Shafik’s response to antisemitism is lacking and called on her to resign.
-    
-            “I am no longer confident that Columbia can protect its students and staff, and I am not comfortable supporting the university until corrective action is taken,” New England Patriots owner Robert Kraft, who graduated from Columbia and has donated millions of dollars to the university, said Monday. “It is my hope that Columbia and its leadership will stand up to this hate by ending these protests immediately.”",CNN,25/04/2024,"['When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees.', 'Now, some of her own students and professors, as well as the speaker of the House of Representatives, are calling on her to resign.', 'Just over nine months into her tenure, Shafik — an Egyptian-born economist and former high-ranking official at the World Bank, International Monetary Fund and Bank of England, and former president of the London School of Economics — is under pressure for her handling of Columbia campus protests over the war between Israel and Hamas.', 'College administrators have been under intense scrutiny in the wake of the Israel-Hamas war.', 'University of Pennsylvania president Liz Magill and Harvard University president Claudine Gay both stepped down in the wake of pressure over their response to antisemitism on campus.', 'At Columbia, some students, faculty and left-leaning lawmakers are enraged that Shafik authorized the New York Police Department to shut down student protests on campus that have been urging the university to cut off its economic and academic ties to Israel.', 'They say the crackdown on student protests, which resulted in more than 100 arrests, violated academic freedom.', 'At the same time, students, religious groups and right-leaning lawmakers say the administration has failed to stop antisemitism inside Columbia’s campus and at protests outside its gates.', '“Calling in police enforcement on nonviolent demonstrations of young students on campus is an escalatory, reckless, and dangerous act,” Democratic Rep. Alexandra Ocasio-Cortez posted on X Tuesday. “', 'It represents a heinous failure of leadership that puts people’s lives at risk.', 'I condemn it in the strongest possible terms.”', 'The Republican House speaker, Rep. Mike Johnson, called on Shafik to resign during a tense press conference Wednesday at Columbia. “', 'I am here today, joining my colleagues and calling on President Shafik to resign if she cannot immediately bring order to this chaos,” Johnson said.', '“These are incredibly difficult situations for a university president, especially someone who is not tested over time,” said James Finkelstein, a professor emeritus of public policy at George Mason University who studies the selection and employment of university presidents.', '“She’s at serious risk of being able to survive this,” Finkelstein added. “', 'The likelihood of her keeping her job is at best 50-50.”', 'Columbia’s Board of Trustees is standing by Shafik, saying it “strongly supports” Shafik as she “steers the university through this extraordinarily challenging time.”', '“During the search process for this role, President Shafik told us that she would always take a thoughtful approach to resolving conflict, balancing the disparate voices that make up a vibrant campus like Columbia’s, while taking a firm stance against hatred, harassment, and discrimination,” the board said in a statement Wednesday. “', 'That’s exactly what she’s doing now.”', 'Shafik has now drawn comparisons to former Columbia president Grayson Kirk, who in 1968 called in 1,000 police officers in riot gear to quell students protesting the Vietnam War, Columbia’s role in military research and its relationship to the Harlem community.', 'Kirk resigned later that year.', 'Last week, Shafik authorized the New York Police Department to sweep the “Gaza Solidarity Encampment” on Columbia’s campus.', 'Police arrested more than 100 people on suspicion of criminal trespassing, and Columbia suspended students participating in the protest encampment.', '“Columbia itself has its own traditions and memories of bringing police on campus,” Finkelstein said. “', 'You have a historically activist faculty and student body.”', 'Shafik’s decision to authorize the NYPD to arrest protestors “suggests to me being very insensitive to the history of the institution,” he said.', 'Some Columbia faculty members have denouncedShafik’s decision to authorize the NYPD to remove protesters from campus and demanded all legal and disciplinary charges be dismissed and expunged from students’ records.', 'The faculty voted to submit a symbolic measure censuring Shafik for her decision to authorize the NYPD, which they said was an “unprecedented assault on student rights.”', 'Shafik has denounced antisemitism, urged students to report incidents of discrimination and said hateful speech and acts against Jews would be investigated by the university since Hamas’ attack on civilians in Israel on October 7.', 'On November 1, she announced the formation of a university task force on antisemitism.', 'During congressional testimony last week, Shafik said students and faculty have been disciplined for antisemitism and that more work was needed to combat antisemitism.', 'Still, Shafik and the university administration are under fire for their response to antisemitism and to Islamophobia, as well.', 'Last fall, a Columbia student who was hanging posters on campus in support of Israel wasassaulted.', 'The university has also faced criticism for hiring a professor who allegedly expressed support for Hamas on social media following the October 7 terror attack on Israel.', 'That professorhas been fired, Shafik said last Wednesday.', 'The Department of Education is investigating Columbia, UPenn, Harvard and four other schools after complaints about alleged incidents of antisemitism and Islamophobia.', 'At the conclusion of the investigations, the Department of Education will make recommendations to the schools.', 'The schools risk losing federal funding if they don’t comply.', 'Some Jewish students have described being verbally and physically harassed on campus, and there have been incidents outside of Columbia’s campus of antisemitism.', 'Columbia’s Hillel group has called on the university to do more to protect students and ensure that students can walk around campus without fear of harassment.', 'Some major donors, Republican lawmakers and a handful of Democratic lawmakers have said these incidents show Shafik’s response to antisemitism is lacking and called on her to resign.', '“I am no longer confident that Columbia can protect its students and staff, and I am not comfortable supporting the university until corrective action is taken,” New England Patriots owner Robert Kraft, who graduated from Columbia and has donated millions of dollars to the university, said Monday. “', 'It is my hope that Columbia and its leadership will stand up to this hate by ending these protests immediately.”']",-0.2815594025415867,Columbia’s Hillel group has called on the university to do more to protect students and ensure that students can walk around campus without fear of harassment.,"Police arrested more than 100 people on suspicion of criminal trespassing, and Columbia suspended students participating in the protest encampment.",-0.7069205108441805,"When Minouche Shafik was announced as Columbia University’s president last year, she was called the “perfect candidate” by the chair of Columbia’s Board of Trustees.","“I am no longer confident that Columbia can protect its students and staff, and I am not comfortable supporting the university until corrective action is taken,” New England Patriots owner Robert Kraft, who graduated from Columbia and has donated millions of dollars to the university, said Monday. “",2024-04-25
-FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html,"
-  Updated
-        8:11 PM EDT, Tue March 26, 2024
-    ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.
-    
-            The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.
-    
-            The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.
-    
-            The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.
-    
-            The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier.
-    
-            When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”
-    
-            TikTok did not immediately respond to a request for comment.
-    
-            The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill.
-    
-            The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.
-    
-            Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.
-    
-            TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-04-25
-Ford just reported a massive loss on every electric vehicle it sold,https://edition.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html,"
-  Updated
-        2:10 PM EDT, Thu April 25, 2024
-    ","Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.
-    
-            Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.
-    
-            The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.
-    
-            The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford. Instead the losses include hundreds of millions being spent on research and development of the next generation of EVs for Ford. Those investments are years away from paying off.
-    
-            And that means this is not the end of the losses in the unit - Ford said it expects Model e will have EBIT losses of $5 billion for the full year.
-    
-            The company said it is its “intention” to be have EV pricing cover the actual costs of building each EV, rather than covering all the research and development costs, within the next 12 months. But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.”
-    
-            In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.
-    
-            Model e doesn’t handle all of the company’s electric vehicle sales. Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers. And Ford said it had strong demands for electric vehicle sales in that unit, including an order for 9,250 E-Transit vans from the US Postal Service, which are to be delivered through the end of this year, and an order for more than 1,000 of its F-150 Lightning pickups and Mustang Mach-E SUVs from Ecolab, a global sustainability company.
-    
-            Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.
-    
-            Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion. The number of vehicles sold by Ford Pro was up 21% to 409,000.
-    
-            But Ford Blue, which handles sales of gasoline-powered cars to consumers, reported that sales fell 11% to 626,000, and revenue dropped 13% to $21 billion. That resulted in EBIT in those traditional sales falling by nearly two-thirds to $905 million.
-    
-            Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.
-    
-            Ford rival General Motors reported earlier this week that it remains on track to have its North American EV business turn profitable in the second half of this year, while Stellantis, which makes cars and trucks in North America under the Jeep, Ram, Dodge and Chrysler brands, said its European EV business was already profitable last year.
-    
-            On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.",CNN,25/04/2024,"['Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.', 'Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years.', 'But it is the only traditional automaker to break out results of its retail EV sales.', 'And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.', 'The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier.', 'And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry.', 'That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.', 'The losses go far beyond the cost of building and selling those 10,000 cars, according to Ford.', 'Instead the losses include hundreds of millions being spent on research and development of the next generation of EVs for Ford.', 'Those investments are years away from paying off.', 'And that means this is not the end of the losses in the unit - Ford said it expects Model e will have EBIT losses of $5 billion for the full year.', 'The company said it is its “intention” to be have EV pricing cover the actual costs of building each EV, rather than covering all the research and development costs, within the next 12 months.', 'But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler.', 'He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.”', 'In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.', 'Model e doesn’t handle all of the company’s electric vehicle sales.', 'Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers.', 'And Ford said it had strong demands for electric vehicle sales in that unit, including an order for 9,250 E-Transit vans from the US Postal Service, which are to be delivered through the end of this year, and an order for more than 1,000 of its F-150 Lightning pickups and Mustang Mach-E SUVs from Ecolab, a global sustainability company.', 'Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.', 'Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion.', 'The number of vehicles sold by Ford Pro was up 21% to 409,000.', 'But Ford Blue, which handles sales of gasoline-powered cars to consumers, reported that sales fell 11% to 626,000, and revenue dropped 13% to $21 billion.', 'That resulted in EBIT in those traditional sales falling by nearly two-thirds to $905 million.', 'Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.', 'Ford rival General Motors reported earlier this week that it remains on track to have its North American EV business turn profitable in the second half of this year, while Stellantis, which makes cars and trucks in North America under the Jeep, Ram, Dodge and Chrysler brands, said its European EV business was already profitable last year.', 'On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.']",-0.0062378427825624,"Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.",But a price war among EVs for about a year and a half has made even that measure of profitability very difficult said Ford CFO John Lawler.,-0.3318765220187959,"Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion.","Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.",2024-04-25
-Google accused of making it harder to search for rival,https://www.bbc.co.uk/news/articles/ckv7jz9x1l9o,2024-04-25T14:16:44.431Z,"Google has been accused of taking advantage of its market dominance to make it harder to search for a rival email service. Tuta Mail - which says it has more than ten million users worldwide - alleges that, since March, it hasn’t appeared prominently in Google searches for “encrypted email."" The company has made a complaint to the EU claiming that Google - which has its own hugely popular Gmail service - has damaged a rival business. Google has denied the accusation, insisting Tuta remains ""easily accessible"" via its search engine. In its complaint, Tuta notes that its “ranking” – how high up Google’s search results it appears - fell dramatically in March 2024 for searches such as ""secure email."" As a result, monthly visits to pages on its website have dropped by almost 90%, Tuta's formal complaint to the EU alleges. ""At the beginning of March 2024 Google suddenly stopped displaying our website for thousands of keywords,"" it wrote in the complaint.  Following the change, traffic to its website only came from searches mentioning the name of its products. “Google must stop this unfair limitation of showing our website in search results immediately,” Matthias Pfau, co-founder of Tuta Mail said. Google's algorithm uses a number of factors to determine the ranking of search results. When the algorithm is updated, it can have a big impact on businesses that rely on the visits search sends to their websites. There was an update in early March, as a result of which Google warned there would be more fluctuations in rankings than usual. But it denies its updates are intended to favour any particular website, including its own. ""Search ranking updates absolutely do not aim to preference Google products, or any other particular website. The email provider in question is easily accessible globally on Search,"" Google wrote. Gmail has more than a billion users worldwide. Tuta argues that “niche” email services such as its own will not be able to grow into serious competitors if they don’t appear for common search terms. In a blog post the firm accused the company of breaching a new EU law that came into force in March, which designated some large firms, including Google, as “gatekeepers” subject to additional legal restrictions. This includes not treating their own services more favourably than rivals. “Google in its role as a gatekeeper is impacting the profits and marketability of our private email service Tuta Mail - a direct competitor to Google's Gmail, which goes against the Digital Markets Act”, the company wrote. But, according to a Google spokesperson, Tuta ranks above Gmail for a range of email-related searches, including ones that don't mention it as a brand and those it referred to in its blog. ",BBC,25/04/2024,"['Google has been accused of taking advantage of its market dominance to make it harder to search for a rival email service.', 'Tuta Mail - which says it has more than ten million users worldwide - alleges that, since March, it hasn’t appeared prominently in Google searches for “encrypted email.""', 'The company has made a complaint to the EU claiming that Google - which has its own hugely popular Gmail service - has damaged a rival business.', 'Google has denied the accusation, insisting Tuta remains ""easily accessible"" via its search engine.', 'In its complaint, Tuta notes that its “ranking” – how high up Google’s search results it appears - fell dramatically in March 2024 for searches such as ""secure email.""', 'As a result, monthly visits to pages on its website have dropped by almost 90%, Tuta\'s formal complaint to the EU alleges. ""', 'At the beginning of March 2024 Google suddenly stopped displaying our website for thousands of keywords,"" it wrote in the complaint.', 'Following the change, traffic to its website only came from searches mentioning the name of its products. “', 'Google must stop this unfair limitation of showing our website in search results immediately,” Matthias Pfau, co-founder of Tuta Mail said.', ""Google's algorithm uses a number of factors to determine the ranking of search results."", 'When the algorithm is updated, it can have a big impact on businesses that rely on the visits search sends to their websites.', 'There was an update in early March, as a result of which Google warned there would be more fluctuations in rankings than usual.', 'But it denies its updates are intended to favour any particular website, including its own. ""', 'Search ranking updates absolutely do not aim to preference Google products, or any other particular website.', 'The email provider in question is easily accessible globally on Search,"" Google wrote.', 'Gmail has more than a billion users worldwide.', 'Tuta argues that “niche” email services such as its own will not be able to grow into serious competitors if they don’t appear for common search terms.', 'In a blog post the firm accused the company of breaching a new EU law that came into force in March, which designated some large firms, including Google, as “gatekeepers” subject to additional legal restrictions.', 'This includes not treating their own services more favourably than rivals. “', ""Google in its role as a gatekeeper is impacting the profits and marketability of our private email service Tuta Mail - a direct competitor to Google's Gmail, which goes against the Digital Markets Act”, the company wrote."", ""But, according to a Google spokesperson, Tuta ranks above Gmail for a range of email-related searches, including ones that don't mention it as a brand and those it referred to in its blog.""]",-0.092089366197724,"Google in its role as a gatekeeper is impacting the profits and marketability of our private email service Tuta Mail - a direct competitor to Google's Gmail, which goes against the Digital Markets Act”, the company wrote.","Google must stop this unfair limitation of showing our website in search results immediately,” Matthias Pfau, co-founder of Tuta Mail said.",-0.908499789237976,,"As a result, monthly visits to pages on its website have dropped by almost 90%, Tuta's formal complaint to the EU alleges. """,2024-04-25
-It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion,"
-  
-        11:21 AM EST, Wed February 14, 2024
-    ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point.
-    
-            Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower.
-    
-            This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.
-    
-            With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon.
-    
-            To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.
-    
-            Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.
-    
-            Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.
-    
-            But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.
-    
-            If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible.
-    
-            But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.
-    
-            When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel.
-    
-            However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer.
-    
-            To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.
-    
-            Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer.
-    
-            Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment.
-    
-            With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.
-    
-            Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.
-    
-            Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.
-    
-            Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.
-    
-            Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.
-    
-            Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points.,-0.0578339397907257,"Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.",But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.,2024-04-25
-OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html,"
-  Updated
-        3:32 PM EST, Wed November 22, 2023
-    ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.
-    
-            Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.
-    
-            The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.
-    
-            If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.
-    
-            Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public.
-    
-            Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.
-    
-            Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO.
-    
-            OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.
-    
-            Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”
-    
-            Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.”
-    
-            A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events.
-    
-            Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.
-    
-            OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.
-    
-            By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.
-    
-            But those talks broke down.
-    
-            As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer.
-    
-            In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.
-    
-            But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met.
-    
-            Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.”
-    
-            The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign.
-    
-            And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.
-    
-            “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”
-    
-            Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X.
-    
-            “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo.
-    
-            “We are collaborating to figure out the details,” it said.
-    
-            In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.
-    
-            It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”
-    
-            Brockman is also returning to OpenAI, according to his post on X.
-    
-            Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.
-    
-            “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X.  “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X.  Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-04-25
-"Yellen: US economy strong, not overheated",https://edition.cnn.com/2024/04/25/economy/janet-yellen-economy-inflation/index.html,"
-  Updated
-        1:12 PM EDT, Thu April 25, 2024
-    ","Despite a weaker-than-expected first-quarter GDP reading, the US economy is “firing on all cylinders” and inflation is on a path toward a more normal level, US Treasury Secretary Janet Yellen said Thursday in an interview with Reuters.
-    
-            Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni as part of the news organization’s NEXT Newsmakers series.
-    
-            “The economy is clearly performing very well,” Yellen said. “I certainly don’t see it as overheated. The labor market is the strongest labor market we’ve had in 50 years.”
-    
-            Earlier on Thursday, the Commerce Department reported that the US economy grew by an annualized rate of 1.6% during the first quarter. The GDP reading (which will be revised twice more in the coming weeks) is the slowest pace of growth since the economy contracted in the second quarter of 2022.
-    
-            Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report.
-    
-            Economic growth has remained historically strong in the face of elevated inflation, high interest rates and geopolitical tensions. America’s job market is in a three-plus-year expansion, fueling robust consumer spending.
-    
-            Inflation in the US slowed sharply last year; however, that progress stalled so far this year as rising gas prices and stubbornly high services and shelter prices served as headwinds. Those hot readings are not signs that inflation is reaccelerating, Yellen said.
-    
-            Shelter costs, as measured by key inflation indexes, are expected to continue to moderate throughout the year, she said, noting rents have stabilized. Additionally, the labor market is not so hot that wage pressures are a source of inflation, she said.
-    
-            “I believe the fundamentals here are in line with inflation continuing down back toward normal levels,” Yellen said.
-    
-            Lower inflation does not need to come at the cost of higher unemployment, she added.
-    
-            Federal Reserve officials have long cautioned that bringing inflation down would be a a bumpy process, but the first-quarter readings give central bankers all the more reason to bide their time before trimming interest rates.
-    
-            Fed officials will meet next week to discuss their latest policy moves. They’re widely expected to hold interest rates steady.
-    
-            Still, elevated inflation is seen as a key issue for the President Joe Biden’s reelection chances.
-    
-            “I know that Americans are concerned with the high cost of living in an number of different areas, and it’s President Biden’s top priority to address that concern,” she said.
-    
-            Biden has enacted and proposed legislation to help address some of those concerns, she said, noting efforts to reduce health care costs such as putting a cap on insulin prices, the president’s proposals to invest in making housing more affordable and the incentives in place to fuel clean energy developments.
-    
-            Internationally, however, developments remain more volatile, with ongoing wars in Ukraine and the Middle East escalating geopolitical tensions. Additionally, the US-China relationship is turbulent.
-    
-            The US, other Group of Seven members and the European Union are currently discussing how to use nearly $300 billion in frozen Russian assets to help Ukraine. Outright seizure of those assets could be one approach, Yellen said Thursday, as well as utilizing the interest earned on those assets in the form of a loan.
-    
-            “There are a range of options, and we want to give several options for the leaders to discuss in June,” she said, referring to the upcoming G7 summit in Italy.
-    
-            In terms of China, Yellen reiterated concerns she expressed earlier this month about the nation’s overproduction of goods in critical industries such as electric vehicles and clean energy.
-    
-            While Chinese officials have recognized the issue of overcapacity, Yellen said the spillover effects could be negative to the US and beyond.
-    
-            “This isn’t just a US issue; this is an issue for Europe, for Japan, for emerging markets like India and Mexico,” she said. “We’re not the only country that is concerned by the market being flooded with goods.”
-    
-            She noted how in the mid-2000s, China’s glut of solar panel supplies drove down prices and devastated the emerging solar energy industry in the US and elsewhere.
-    
-            While there aren��t any immediate actions such as trade barriers being taken in response, Yellen said she “wouldn’t want to take anything off the table.”
-    
-            Last week, Biden called on US Trade Representative Katherine Tai to “consider tripling” the existing 7.5% tariff rate on Chinese steel and aluminum through a review of the Section 301 tariff rate, pending the conclusion of a four-year review.
-    
-            Officials expect the ongoing review to be completed “soon,” and Tai could take action to “(enhance) the effectiveness” of the tariffs based on its findings, a senior official said.",CNN,25/04/2024,"['Despite a weaker-than-expected first-quarter GDP reading, the US economy is “firing on all cylinders” and inflation is on a path toward a more normal level, US Treasury Secretary Janet Yellen said Thursday in an interview with Reuters.', 'Yellen on Thursday was interviewed by Reuters’ editor in chief Alessandra Galloni as part of the news organization’s NEXT Newsmakers series.', '“The economy is clearly performing very well,” Yellen said. “', 'I certainly don’t see it as overheated.', 'The labor market is the strongest labor market we’ve had in 50 years.”', 'Earlier on Thursday, the Commerce Department reported that the US economy grew by an annualized rate of 1.6% during the first quarter.', 'The GDP reading (which will be revised twice more in the coming weeks) is the slowest pace of growth since the economy contracted in the second quarter of 2022.', 'Yellen said the weaker reading was not “concerning,” mentioning that measures of underlying growth were strong in Thursday’s report.', 'Economic growth has remained historically strong in the face of elevated inflation, high interest rates and geopolitical tensions.', 'America’s job market is in a three-plus-year expansion, fueling robust consumer spending.', 'Inflation in the US slowed sharply last year; however, that progress stalled so far this year as rising gas prices and stubbornly high services and shelter prices served as headwinds.', 'Those hot readings are not signs that inflation is reaccelerating, Yellen said.', 'Shelter costs, as measured by key inflation indexes, are expected to continue to moderate throughout the year, she said, noting rents have stabilized.', 'Additionally, the labor market is not so hot that wage pressures are a source of inflation, she said.', '“I believe the fundamentals here are in line with inflation continuing down back toward normal levels,” Yellen said.', 'Lower inflation does not need to come at the cost of higher unemployment, she added.', 'Federal Reserve officials have long cautioned that bringing inflation down would be a a bumpy process, but the first-quarter readings give central bankers all the more reason to bide their time before trimming interest rates.', 'Fed officials will meet next week to discuss their latest policy moves.', 'They’re widely expected to hold interest rates steady.', 'Still, elevated inflation is seen as a key issue for the President Joe Biden’s reelection chances.', '“I know that Americans are concerned with the high cost of living in an number of different areas, and it’s President Biden’s top priority to address that concern,” she said.', 'Biden has enacted and proposed legislation to help address some of those concerns, she said, noting efforts to reduce health care costs such as putting a cap on insulin prices, the president’s proposals to invest in making housing more affordable and the incentives in place to fuel clean energy developments.', 'Internationally, however, developments remain more volatile, with ongoing wars in Ukraine and the Middle East escalating geopolitical tensions.', 'Additionally, the US-China relationship is turbulent.', 'The US, other Group of Seven members and the European Union are currently discussing how to use nearly $300 billion in frozen Russian assets to help Ukraine.', 'Outright seizure of those assets could be one approach, Yellen said Thursday, as well as utilizing the interest earned on those assets in the form of a loan.', '“There are a range of options, and we want to give several options for the leaders to discuss in June,” she said, referring to the upcoming G7 summit in Italy.', 'In terms of China, Yellen reiterated concerns she expressed earlier this month about the nation’s overproduction of goods in critical industries such as electric vehicles and clean energy.', 'While Chinese officials have recognized the issue of overcapacity, Yellen said the spillover effects could be negative to the US and beyond.', '“This isn’t just a US issue; this is an issue for Europe, for Japan, for emerging markets like India and Mexico,” she said. “', 'We’re not the only country that is concerned by the market being flooded with goods.”', 'She noted how in the mid-2000s, China’s glut of solar panel supplies drove down prices and devastated the emerging solar energy industry in the US and elsewhere.', 'While there aren’t any immediate actions such as trade barriers being taken in response, Yellen said she “wouldn’t want to take anything off the table.”', 'Last week, Biden called on US Trade Representative Katherine Tai to “consider tripling” the existing 7.5%tariff rate on Chinese steel and aluminum through a review of the Section 301 tariff rate, pending the conclusion of a four-year review.', 'Officials expect the ongoing review to be completed “soon,” and Tai could take action to “(enhance) the effectiveness” of the tariffs based on its findings, a senior official said.']",0.1523125333393283,"Biden has enacted and proposed legislation to help address some of those concerns, she said, noting efforts to reduce health care costs such as putting a cap on insulin prices, the president’s proposals to invest in making housing more affordable and the incentives in place to fuel clean energy developments.","Internationally, however, developments remain more volatile, with ongoing wars in Ukraine and the Middle East escalating geopolitical tensions.",0.0037686203916867,"Earlier on Thursday, the Commerce Department reported that the US economy grew by an annualized rate of 1.6% during the first quarter.","Inflation in the US slowed sharply last year; however, that progress stalled so far this year as rising gas prices and stubbornly high services and shelter prices served as headwinds.",2024-04-25
-The House just voted on a potential TikTok ban (again). Now what?,https://edition.cnn.com/2024/04/20/tech/tiktok-ban-explained/index.html,"
-  Published
-        9:00 PM EDT, Sat April 20, 2024
-    ","House lawmakers have once again passed legislation that could lead to a nationwide TikTok ban, renewing a massive threat to the company’s US operations.
-    
-            The move could fast-track a proposal TikTok has been fighting against for weeks. If the House’s gambit succeeds, TikTok could be forced to find a new owner or be banned from the United States entirely.
-    
-            Here’s what we know, and how it could affect you.
-    
-            Yes. In March, House lawmakers approved a bill that would give TikTok roughly six months to sell. Failure to do so would lead to significant consequences: The app would be prohibited from US app stores and from “internet hosting services” that support it.
-    
-            A few things. For starters, there are some substantive changes. Instead of a six-month deadline, TikTok would have roughly nine months. And that deadline could be extended by the White House — for a period of 90 days — if President Joe Biden determines there’s been progress toward a sale.
-    
-            Giving TikTok as long as a year to wrap up a forced sale appears to have changed the political calculus on Capitol Hill. Some key lawmakers who’ve previously expressed skepticism now say they support the bill. One of those lawmakers is Washington Democratic Sen. Maria Cantwell, who chairs the powerful Senate Commerce Committee.
-    
-            Another factor that’s shaking things up is how House Republicans inserted the TikTok bill into a much larger foreign aid package. Rather than asking the Senate to vote on the TikTok bill in isolation, bundling the bill with foreign aid to Ukraine and Israel makes it much harder for lawmakers to oppose the TikTok measure.
-    
-            Senators could try to strip out the TikTok legislation, but policy analysts view it as unlikely. Quickly approving the foreign aid is a top congressional priority, and if the Senate were to pass the package without the TikTok bill, those changes would have to be approved by the House, further delaying matters.
-    
-            It seems more likely for the Senate to consider the entire package in a single, up-or-down vote — which is precisely what House Republicans appear to have wanted. The odds of Senate passage are as high as 80%, according to Paul Gallant, a policy analyst at the market research firm Cowen, Inc.
-    
-            The Senate could vote in as little as one to two weeks, Gallant added, though Senate leadership has expressed a desire to move even faster.
-    
-            If the Senate votes to approve the TikTok legislation, it heads to President Joe Biden’s desk. Biden endorsed the prior version of the TikTok bill, which suggests he may quickly sign any foreign aid package that includes similar language targeting TikTok.
-    
-            In theory, that would start the 270-day clock for TikTok to find a buyer. If it can’t separate from its Chinese parent company, ByteDance, then users could be cut off. But that is still a big “if.” So for now, TikTok fans can continue using the app as before, though they might begin to see more creators — or the company itself — speaking out in the app to oppose the legislation.
-    
-            In addition to complying with the legislation, TikTok could challenge it in court and has made no secret that it might do so. Its CEO, Shou Chew, vowed in March to continue fighting, “including (by) exercising our legal rights.”
-    
-            TikTok and a slew of civil society groups have blasted the House legislation as unconstitutional, arguing that it violates TikTok users’ First Amendment rights to access lawful information.
-    
-            First Amendment experts say a bill that has the ultimate effect of censoring TikTok users could be shot down by the courts. It’s unclear whether the recent updates to the bill may help it survive constitutional scrutiny.
-    
-            “Longstanding Supreme Court precedent protects Americans’ First Amendment right to access information, ideas, and media from abroad,” said Nadine Farid Johnson, policy director of the Knight First Amendment Institute at Columbia University. “By banning TikTok, the bill would infringe on this right, and with no real pay-off. China and other foreign adversaries could still purchase Americans’ sensitive data from data brokers on the open market.”
-    
-            A court challenge could lead to the measure being temporarily blocked while the litigation plays out, likely over multiple years.
-    
-            But if a court declines to grant a temporary injunction, TikTok could have to scramble to comply with the law.
-    
-            The trouble is that TikTok’s parent is subject to Chinese law, and the Chinese government is on record opposing a sale.
-    
-            In recent years, China has implemented export controls governing algorithms, a policy that would seem to cover the incredibly successful algorithm that powers TikTok’s recommendation engine.
-    
-            If the Chinese government doesn’t want to let ByteDance relinquish TikTok’s algorithm, the thinking goes, it could block the sale outright. Alternatively, it may allow TikTok to be sold but without the lucrative algorithm that forms the basis for its popularity.
-    
-            Can TikTok still succeed without its algorithm? That would be the difficult question facing the company in the event of a forced sale. Without the secret sauce that has propelled the app to 170 million US users, the app could be as good as dead.",CNN,20/04/2024,"['House lawmakers have once again passed legislation that could lead to a nationwide TikTok ban, renewing a massive threat to the company’s US operations.', 'The move could fast-track a proposal TikTok has been fighting against for weeks.', 'If the House’s gambit succeeds, TikTok could be forced to find a new owner or be banned from the United States entirely.', 'Here’s what we know, and how it could affect you.', 'Yes.', 'In March, House lawmakers approved a bill that would give TikTok roughly six months to sell.', 'Failure to do so would lead to significant consequences: The app would be prohibited from US app stores and from “internet hosting services” that support it.', 'A few things.', 'For starters, there are some substantive changes.', 'Instead of a six-month deadline, TikTok would have roughly nine months.', 'And that deadline could be extended by the White House — for a period of 90 days — if President Joe Biden determines there’s been progress toward a sale.', 'Giving TikTok as long as a year to wrap up a forced sale appears to have changed the political calculus on Capitol Hill.', 'Some key lawmakers who’ve previously expressed skepticism now say they support the bill.', 'One of those lawmakers is Washington Democratic Sen. Maria Cantwell, who chairs the powerful Senate Commerce Committee.', 'Another factor that’s shaking things up is how House Republicans inserted the TikTok bill into a much larger foreign aid package.', 'Rather than asking the Senate to vote on the TikTok bill in isolation, bundling the bill with foreign aid to Ukraine and Israel makes it much harder for lawmakers to oppose the TikTok measure.', 'Senators could try to strip out the TikTok legislation, but policy analysts view it as unlikely.', 'Quickly approving the foreign aid is a top congressional priority, and if the Senate were to pass the package without the TikTok bill, those changes would have to be approved by the House, further delaying matters.', 'It seems more likely for the Senate to consider the entire package in a single, up-or-down vote — which is precisely what House Republicans appear to have wanted.', 'The odds of Senate passage are as high as80%, according to Paul Gallant, a policy analyst atthe market research firm Cowen, Inc.  The Senate could vote in as little as one to two weeks, Gallant added, though Senate leadership has expressed a desire to move even faster.', 'If the Senate votes to approve the TikTok legislation, it heads to President Joe Biden’s desk.', 'Biden endorsed the prior version of the TikTok bill, which suggests he may quickly sign any foreign aid package that includes similar language targeting TikTok.', 'In theory, that would start the 270-day clock for TikTok to find a buyer.', 'If it can’t separate from its Chinese parent company, ByteDance, then users could be cut off.', 'But that is still a big “if.”', 'So for now, TikTok fans can continue using the app as before, though they might begin to see more creators — or the company itself —speaking out in the app to oppose the legislation.', 'In addition to complying with the legislation, TikTok could challenge it in court and has made no secret that it might do so.', 'Its CEO, Shou Chew, vowed in March to continue fighting, “including (by) exercising our legal rights.”', 'TikTok and a slew of civil society groups have blasted the House legislation as unconstitutional, arguing that it violates TikTok users’ First Amendment rights to access lawful information.', 'First Amendment experts say a bill that has the ultimate effect of censoring TikTok users could be shot down by the courts.', 'It’s unclear whether the recent updates to the bill may help it survive constitutional scrutiny.', '“Longstanding Supreme Court precedent protects Americans’ First Amendment right to access information, ideas, and media from abroad,” said Nadine Farid Johnson, policy director of the Knight First Amendment Institute at Columbia University. “', 'By banning TikTok, the bill would infringe on this right, and with no real pay-off.', 'China and other foreign adversaries could still purchase Americans’ sensitive data from data brokers on the open market.”', 'A court challenge could lead to the measure being temporarily blocked while the litigation plays out, likely over multiple years.', 'But if a court declines to grant a temporary injunction, TikTok could have to scramble to comply with the law.', 'The trouble is that TikTok’s parent is subject to Chinese law, and the Chinese government is on record opposing a sale.', 'In recent years, China has implemented export controls governing algorithms, a policy that would seem to cover the incredibly successful algorithm that powers TikTok’s recommendation engine.', 'If the Chinese government doesn’t want to let ByteDance relinquish TikTok’s algorithm, the thinking goes, it could block the sale outright.', 'Alternatively, it may allow TikTok to be sold but without the lucrative algorithm that forms the basis for its popularity.', 'Can TikTok still succeed without its algorithm?', 'That would be the difficult question facing the company in the event of a forced sale.', 'Without the secret sauce that has propelled the app to 170 million US users, the app could be as good as dead.']",0.017354689093715,"The odds of Senate passage are as high as80%, according to Paul Gallant, a policy analyst atthe market research firm Cowen, Inc.  The Senate could vote in as little as one to two weeks, Gallant added, though Senate leadership has expressed a desire to move even faster.","House lawmakers have once again passed legislation that could lead to a nationwide TikTok ban, renewing a massive threat to the company’s US operations.",-0.4119256789034063,Giving TikTok as long as a year to wrap up a forced sale appears to have changed the political calculus on Capitol Hill.,"Without the secret sauce that has propelled the app to 170 million US users, the app could be as good as dead.",2024-04-25
-The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html,"
-  Updated
-        12:22 PM EDT, Mon April 25, 2022
-    ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. 
-    
-            Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only.
-    
-            While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.
-    
-            “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car.
-    
-            Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.
-    
-            Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though.
-    
-            To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.
-    
-            Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance.  
-    
-            GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-04-25
-Net neutrality is back as FCC votes to regulate internet providers,https://edition.cnn.com/2024/04/25/tech/net-neutrality-is-back/index.html,"
-  Updated
-        12:22 PM EDT, Thu April 25, 2024
-    ","The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry.
-    
-            The net neutrality regulations adopted Thursday by the Federal Communications Commission prohibit providers such as AT&T, Comcast and Verizon from selectively speeding up, slowing down or blocking users’ internet traffic. They largely reflect rules passed by a prior FCC in 2015 and unwound in 2017.
-    
-            The latest rules show how, with a 3-2 Democratic majority, the FCC is moving to reassert its authority over an industry that powers the modern digital economy, touching everything from education to health care and enabling advanced technologies such as artificial intelligence.
-    
-            With Thursday’s party-line vote, the FCC redefined internet service as similar to legacy telephone lines, a sweeping move that comes with greater regulatory power over the broadband industry. And for the first time, the FCC said it would step in to override state or local policies that conflict with the federal net neutrality rule.
-    
-            Leading FCC officials have said restoring net neutrality rules, and reclassifying ISPs under Title II of the agency’s congressional charter, would provide the FCC with clearer authority to adopt future rules governing everything from public safety to national security.
-    
-            Some of the issues the FCC will be further empowered to address after the change include spam robotexts, internet outages, digital privacy and expanding high-speed internet access, FCC Chairwoman Jessica Rosenworcel said when she first announced the proposal in September.
-    
-            On Thursday, Rosenworcel added that the vote would also prevent internet providers from selling Americans’ personal data or sharing it with tech companies to train artificial intelligence models.
-    
-            “The action we take here is good for consumers, public safety, national security and network investment,” Rosenworcel said ahead of the vote.
-    
-            The vote marks the latest twist in a years-long battle between regulators on the one hand, who say consumer protections are needed to ensure all websites are treated equally, and ISPs on the other who describe the rules as heavy-handed government intervention.
-    
-            For years, consumer advocates have said that without net neutrality rules in place, ISPs would be free to charge websites and consumers extra fees — the equivalent of toll lanes for the internet — in order for some websites to be delivered faster than others. At a societal scale, that could give ISPs enormous power to shape what consumers can see and access on the internet, consumer groups say, and entrench their dominance in markets that lack competition.
-    
-            “Broadband is a telecommunications service and should be regulated as such,” said Justin Brookman, director for technology policy at Consumer Reports. “The Title II authority will ensure that broadband providers are properly overseen by the FCC like all telecommunications services should be. Whether it is throttling content, junk or hidden fees, arbitrary pricing, deceptive advertising or unreliable service, broadband providers have proven over the years that without proper oversight, they will not hesitate to use their power to increase profits at the expense of consumers.”
-    
-            The broadband industry argues there is no risk of that happening because consumers would revolt. ISPs add that during the Trump and Biden administrations when the net neutrality rules were not in effect, providers did not engage in that type of content-based network manipulation. They have also claimed that the regulations could discourage them from building high-speed networks, although some academic research has shown little support for that claim.
-    
-            “These 400-plus pages of relentless regulation are proof positive that old orthodoxies die hard,” said Jonathan Spalter, CEO of USTelecom, a trade association representing internet providers. “This is a nonissue for broadband consumers, who have enjoyed an open internet for decades. Rather than pushing this harmful regulatory land grab, policymakers should keep their eyes on the real-world prize of building opportunity for everyone in a hyperconnected world.”
-    
-            US policies for network providers have flip-flopped multiple times over the past decade with every change in administration in Washington.
-    
-            Republican commissioners at the FCC blasted Thursday’s vote, accusing its Democratic leadership of touching “the third rail of communications policy.”
-    
-            “The internet in America has thrived in the absence of 1930s command-and-control regulation by the government,” said FCC Commissioner Brendan Carr, describing the new rules as a power grab. “The FCC has identified no gap in national security,” he added, that the agency’s move would help fill.
-    
-            Industry groups are widely expected to challenge the rules in court, in a significant new test of the federal government’s power.
-    
-            In past legal battles over net neutrality, courts have deferred to the FCC, ruling that it has wide latitude to regulate ISPs as it sees fit using the authority it derives from the agency’s congressional charter, the Communications Act of 1934.
-    
-            But courts’ longstanding deference to expert agencies appears increasingly in doubt as a conservative-leaning Supreme Court has sounded an increasingly skeptical tone on the reach of federal executive authority.
-    
-            As a result, the outcome of a legal challenge to the FCC’s net neutrality rules could have potentially broad ramifications for other US regulatory bodies, not just the FCC.",CNN,25/04/2024,"['The US government on Thursday banned internet service providers (ISPs) from meddling in the speeds their customers receive when browsing the web and downloading files, restoring tough rules rescinded during the Trump administration and setting the stage for a major legal battle with the broadband industry.', 'The net neutrality regulations adopted Thursday by the Federal Communications Commission prohibit providers such as AT&T, Comcast and Verizon from selectively speeding up, slowing down or blocking users’ internet traffic.', 'They largely reflect rules passed by a prior FCC in 2015 and unwound in 2017.', 'The latest rulesshow how,with a 3-2 Democratic majority, the FCC is moving to reassert its authority over an industry that powers the modern digital economy, touching everything from education to health care and enabling advanced technologies such as artificial intelligence.', 'With Thursday’s party-line vote, the FCC redefined internet service as similar to legacy telephone lines, a sweeping move that comes with greater regulatory power over the broadband industry.', 'And for the first time, the FCC said it would step in to override state or local policies that conflict with the federal net neutrality rule.', 'Leading FCC officials have said restoring net neutrality rules, and reclassifying ISPs under Title II of the agency’s congressional charter, would provide the FCC with clearer authority to adopt future rules governing everything from public safety to national security.', 'Some of the issues the FCC will be further empowered to address after the change include spam robotexts, internet outages, digital privacy and expanding high-speed internet access, FCC Chairwoman Jessica Rosenworcel said when she first announced the proposal in September.', 'On Thursday, Rosenworcel added that the vote would also prevent internet providers from selling Americans’ personal data or sharing it with tech companies to train artificial intelligence models.', '“The action we take here is good for consumers, public safety, national security and network investment,” Rosenworcel said ahead of the vote.', 'The vote marks the latest twist in a years-long battle between regulators on the one hand, who say consumer protections are needed to ensure all websites are treated equally, and ISPs on the other who describe the rules as heavy-handed government intervention.', 'For years, consumer advocates have said that without net neutrality rules in place, ISPs would be free to charge websites and consumers extra fees — the equivalent of toll lanes for the internet — in order for some websites to be delivered faster than others.', 'At a societal scale, that could give ISPs enormous power to shape what consumers can seeand access on the internet, consumer groups say, and entrench their dominance in markets that lack competition.', '“Broadband is a telecommunications service and should be regulated as such,” said Justin Brookman, director for technology policy at Consumer Reports. “', 'The Title II authority will ensure that broadband providers are properly overseen by the FCC like all telecommunications services should be.', 'Whether it is throttling content, junk or hidden fees, arbitrary pricing, deceptive advertising or unreliable service, broadband providers have proven over the years that without proper oversight, they will not hesitate to use their power to increase profits at the expense of consumers.”', 'The broadband industry argues there is no risk of that happening because consumers would revolt.', 'ISPs add that during the Trump and Biden administrations when the net neutrality rules were not in effect, providers did not engage in that type of content-based network manipulation.', 'They have also claimed that the regulations could discourage them from building high-speed networks, although some academic research has shown little support for that claim.', '“These 400-plus pages of relentless regulation are proof positive that old orthodoxies die hard,” said Jonathan Spalter, CEO of USTelecom, a trade association representing internet providers. “', 'This is a nonissue for broadband consumers, who have enjoyed an open internet for decades.', 'Rather than pushing this harmful regulatory land grab, policymakers should keep their eyes on the real-world prize of building opportunity for everyone in a hyperconnected world.”', 'US policies for network providers have flip-flopped multiple times over the past decade with every change in administration in Washington.', 'Republican commissioners at the FCC blasted Thursday’s vote, accusing its Democratic leadership of touching “the third rail of communications policy.”', '“The internet in America has thrived in the absence of 1930s command-and-control regulation by the government,” said FCC Commissioner Brendan Carr, describing the new rules as a power grab. “', 'The FCC has identified no gap in national security,” he added, that the agency’s move would help fill.', 'Industry groups are widely expected to challenge the rules in court, in a significant new test of the federal government’s power.', 'In past legal battles over net neutrality, courts have deferred to the FCC, ruling that it has wide latitude to regulate ISPs as it sees fit using the authority it derives from the agency’s congressional charter, the Communications Act of 1934.', 'But courts’ longstanding deference to expert agencies appears increasingly in doubt as a conservative-leaning Supreme Court has sounded an increasingly skeptical tone on the reach of federal executive authority.', 'As a result, the outcome of a legal challenge to the FCC’s net neutrality rules could have potentially broad ramifications for other US regulatory bodies, not just the FCC.']",0.1749750556452971,"The latest rulesshow how,with a 3-2 Democratic majority, the FCC is moving to reassert its authority over an industry that powers the modern digital economy, touching everything from education to health care and enabling advanced technologies such as artificial intelligence.",The broadband industry argues there is no risk of that happening because consumers would revolt.,0.2345490501477168,"“The internet in America has thrived in the absence of 1930s command-and-control regulation by the government,” said FCC Commissioner Brendan Carr, describing the new rules as a power grab. “",But courts’ longstanding deference to expert agencies appears increasingly in doubt as a conservative-leaning Supreme Court has sounded an increasingly skeptical tone on the reach of federal executive authority.,2024-04-25
-Donald Trump is on the verge of another $1 billion Truth Social windfall,https://edition.cnn.com/2024/04/22/business/trump-media-stock-truth-social/index.html,"
-  Updated
-        9:38 AM EDT, Mon April 22, 2024
-    ","Former President Donald Trump is on the cusp of scoring a major financial bonanza – at least on paper.
-    
-            As long as Trump Media & Technology Group’s share price doesn’t spectacularly implode before Tuesday’s closing bell, Trump is on track to receive another 36 million shares as the owner of Truth Social.
-    
-            This milestone is on track to be hit after the market closes on Tuesday.
-    
-            Even though Trump Media is losing money and Truth Social is very tiny, those new shares Trump is in line to receive would be valued at about $1.3 billion at current prices.
-    
-            Trump’s net worth has been on a roller coaster ride ever since his social media company finalized its deal to go public late last month. The former president is the dominant shareholder in a stock that has been called a “meme stock on steroids.”
-    
-            Although Trump Media’s share price has been cut in half since peaking on March 27, it’s still trading comfortably above levels that would trigger certain performance provisions in the merger agreement.
-    
-            According to SEC filings, Trump Media can issue additional shares to pre-merger shareholders such as the former president if the dollar volume-weighted average price equals or exceeds $12.50 for any 20 trading days within any 30 day trading period beginning on March 25.
-    
-            The full earnout of 40 million shares would be triggered if that price metric equals or exceeds $17.50 over the same timeframe.
-    
-            Tuesday marks the 20th trading day and Trump Media’s share price has not traded below the $17.50 level at any point since the clock started on March 25.
-    
-            “It seems almost certain to me that the earnout conditions will be satisfied at this point, given how high the share price has been,” said Michael Ohlrogge, an associate professor at the NYU School of Law.
-    
-            The merger agreement calls for Trump to receive 90% of those earnout shares, translating to 36 million additional shares.
-    
-            That would give Trump an even more dominant stake of 114.75 million shares, amounting to 65% of the total outstanding shares, according to filings.
-    
-            Of course, Trump Media’s share price is subject to extreme volatility, meaning the value of this stake can swing wildly.
-    
-            There are also practical and legal restrictions that would likely prevent Trump from cashing in this stock anytime soon.
-    
-            According to filings, the earnout shares Trump appears to be in line to receive are subject to the lock-up restrictions that prevent insiders from selling or borrowing against their stock for months after the merger closed.
-    
-            Even if Trump was able to get around this lock-up agreement, experts say it would be practically difficult for him to sell a sizable chunk of his stake without causing a crash in the share price. After all, Trump is the largest shareholder, chairman and most popular user on Truth Social.
-    
-            Even though Trump Media’s share price has retreated since spiking to $66 last month, experts warn it remains overvalued based on fundamental metrics.
-    
-            One common way to value stocks is to compare its price relative to its revenue.
-    
-            The average social media stock trades at a price-to-sales ratio of roughly 10x, according to Matthew Kennedy, senior IPO strategist at Renaissance Capital. That peer group includes Facebook owner Meta, Pinterest, Snap, Reddit and Rumble.
-    
-            By comparison, Trump Media is trading at north of 1,200 times sales, according to Kennedy.
-    
-            “The stock appears to be grossly overvalued,” said Jay Ritter, a finance professor at the University of Florida.
-    
-            Ritter, who has been studying IPOs for four decades, expects Trump Media’s share price to eventually plunge to just $1 or $2 per share.
-    
-            Ohlrogge, the NYU professor, said Trump Media’s share price is “responding primarily to non-rational factors.”
-    
-            For instance, Ohlrogge pointed to how the stock plunged last week after the company indicated it plans to register new shares.
-    
-            “There should have been nothing surprising about that filing since it was just doing precisely what the company said it would do after it went public…There was no real rational reason to have a negative impact on the price,” he said, adding that the price reflects the “whims and sentiments of very uninformed traders, driving the price this way and that.”
-    
-            In a sign that Trump Media is worried about its share price, the company took the unusual step last week of telling its shareholders how to avoid their stock from being loaned to short sellers betting against it.
-    
-            Trump Media updated a FAQ section on its website to include the short-selling prevention tips.
-    
-            “That is highly unusual,” said Peter Byrne, a securities lawyer at Cooley who focuses on companies going public. “We don’t typically see companies publish information like this.”",CNN,22/04/2024,"['Former President Donald Trump is on the cusp of scoring a major financial bonanza – at least on paper.', 'As long as Trump Media & Technology Group’s share price doesn’t spectacularly implode before Tuesday’s closing bell, Trump is on track to receive another 36 million shares as the owner of Truth Social.', 'This milestone is on track to be hit after the market closes on Tuesday.', 'Even though Trump Media is losing money and Truth Social is very tiny, those new shares Trump is in line to receive would be valued at about $1.3 billion at current prices.', 'Trump’s net worth has been on a roller coaster ride ever since his social media company finalized its deal to go public late last month.', 'The former president is the dominant shareholder in a stock that has been called a “meme stock on steroids.”', 'Although Trump Media’s share price has been cut in half since peaking on March 27, it’s still trading comfortably above levels that would trigger certain performance provisions in the merger agreement.', 'According to SEC filings, Trump Media can issue additional shares to pre-merger shareholders such as the former president if the dollar volume-weighted average price equals or exceeds $12.50 for any 20 trading days within any 30 day trading period beginning on March 25.', 'The full earnout of 40 million shares would be triggered if that price metric equals or exceeds $17.50 over the same timeframe.', 'Tuesday marks the 20th trading day and Trump Media’s share price has not traded below the $17.50 level at any point since the clock started on March 25.', '“It seems almost certain to me that the earnout conditions will be satisfied at this point, given how high the share price has been,” said Michael Ohlrogge, an associate professor at the NYU School of Law.', 'The merger agreement calls for Trump to receive 90% of those earnout shares, translating to 36 million additional shares.', 'That would give Trump an even more dominant stake of 114.75 million shares, amounting to 65% of the total outstanding shares, according to filings.', 'Of course, Trump Media’s share price is subject to extreme volatility, meaning the value of this stake can swing wildly.', 'There are also practical and legal restrictions that would likely prevent Trump from cashing in this stock anytime soon.', 'According to filings, the earnout shares Trump appears to be in line to receive are subject to the lock-up restrictions that prevent insiders from selling or borrowing against their stock for months after the merger closed.', 'Even if Trump was able to get around this lock-up agreement, experts say it would be practically difficult for him to sell a sizable chunk of his stake without causing a crash in the share price.', 'After all, Trump is the largest shareholder, chairman and most popular user on Truth Social.', 'Even though Trump Media’s share price has retreated since spiking to $66 last month, experts warn it remains overvalued based on fundamental metrics.', 'One common way to value stocks is to compare its price relative to its revenue.', 'The average social media stock trades at a price-to-sales ratio of roughly 10x, according to Matthew Kennedy, senior IPO strategist at Renaissance Capital.', 'That peer group includes Facebook owner Meta, Pinterest, Snap, Reddit and Rumble.', 'By comparison, Trump Media is trading at north of 1,200 times sales, according to Kennedy.', '“The stock appears to be grossly overvalued,” said Jay Ritter, a finance professor at the University of Florida.', 'Ritter, who has been studying IPOs for four decades, expects Trump Media’s share price to eventually plunge to just $1 or $2 per share.', 'Ohlrogge, the NYU professor, said Trump Media’s share price is “responding primarily to non-rational factors.”', 'For instance, Ohlrogge pointed to how the stock plunged last week after the company indicated it plans to register new shares.', '“There should have been nothing surprising about that filing since it was just doing precisely what the company said it would do after it went public…There was no real rational reason to have a negative impact on the price,” he said, adding that the price reflects the “whims and sentiments of very uninformed traders, driving the price this way and that.”', 'In a sign that Trump Media is worried about its share price, the company took the unusual step last week of telling its shareholders how to avoid their stock from being loaned to short sellers betting against it.', 'Trump Media updated a FAQ section on its website to include the short-selling prevention tips.', '“That is highly unusual,” said Peter Byrne, a securities lawyer at Cooley who focuses on companies going public. “', 'We don’t typically see companies publish information like this.”']",0.2762640314022292,"That would give Trump an even more dominant stake of 114.75 million shares, amounting to 65% of the total outstanding shares, according to filings.","“There should have been nothing surprising about that filing since it was just doing precisely what the company said it would do after it went public…There was no real rational reason to have a negative impact on the price,” he said, adding that the price reflects the “whims and sentiments of very uninformed traders, driving the price this way and that.”",-0.2646078738299283,"“It seems almost certain to me that the earnout conditions will be satisfied at this point, given how high the share price has been,” said Michael Ohlrogge, an associate professor at the NYU School of Law.","Even though Trump Media’s share price has retreated since spiking to $66 last month, experts warn it remains overvalued based on fundamental metrics.",2024-04-25
-Petrol prices on UK forecourts hit 150p a litre,https://www.bbc.co.uk/news/business-68881429,2024-04-23T11:07:19.000Z,"Petrol prices across the UK have hit an average 150.1p a litre, reaching the highest level since last November, according to the AA motoring group. Data also showed that average diesel prices rose to 158.3p a litre on Monday. Experts blamed a rise in oil prices because of tensions in the Middle East, as well as a weaker pound compared to the dollar. The AA predicted drivers would ""re-tighten their belts on other spending"". While overall inflation - which measures the pace of price rises - has eased, the cost of petrol and diesel both rose in March. ""Inflation has been heading downwards at quite some speed but petrol's rebound to 150p a litre leaves a big boulder in the road,"" said Luke Bosdet, the AA's spokesman on pump prices. Prices are based on data collected by the Competition and Markets Authority (CMA) from nearly 3,000 forecourts and analysed by market research firm Fuel Prices Online. Data showed that 28.1% of the forecourts were charging at least 150p per litre for petrol on Monday, up from 23.8% a week earlier. But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up ""may not get much worse in the short-term"". Oil prices have fallen after they spiked in the wake of Israel's retaliatory attack on Iran last week. Caroline Bain, chief commodities economist at Capital Economics, said: ""Given that there will be some lag between spot crude oil prices in financial markets and prices on the forecourt, the latest rise is perhaps not so surprising."" While Brent crude - a key benchmark for oil prices internationally - has receded from last week, it is still trading 13% higher at $87 per barrel compared to the start of the year.  Ms Bain said: ""We think that oil prices may well rise in the near-term if there is a further escalation of tensions in the Middle East, but that they will start to fall in the second half of this year."" RAC fuel spokesman Simon Williams said that drivers were ""really starting to feel pain at the pumps"" but he claimed much of that depended on the margin that retailers may decide to take. ""Higher margins always mean higher prices for drivers,"" he said. The competition watchdog cited concerns about higher retailer margins - the difference between what a retailer pay for its fuel and what it sells at - as recently as last month. In March, the CMA said that there had been a sustained increase in these margins which it found ""concerning"". It suggested that one of the key findings of a market study it published last year - that competition levels in the fuel market have weakened - was still valid. Concerns about the high price of fuel prompted the CMA to look into the sector and its study concluded that some retailers were overcharging. It found that motorists generally have to shop around themselves, keeping an eye out for the best prices while they are out and about. The government responded to the study by proposing the ""Pumpwatch"" scheme to ensure that fuel prices were updated in near real-time, so motorists can compare prices via price comparison websites, satnavs and navigation apps. A consultation on the schemeis still ongoing. ",BBC,23/04/2024,"['Petrol prices across the UK have hit an average 150.1p a litre, reaching the highest level since last November, according to the AA motoring group.', 'Data also showed that average diesel prices rose to 158.3p a litre on Monday.', 'Experts blamed a rise in oil prices because of tensions in the Middle East, as well as a weaker pound compared to the dollar.', 'The AA predicted drivers would ""re-tighten their belts on other spending"".', 'While overall inflation - which measures the pace of price rises - has eased, the cost of petrol and diesel both rose in March. ""', 'Inflation has been heading downwards at quite some speed but petrol\'s rebound to 150p a litre leaves a big boulder in the road,"" said Luke Bosdet, the AA\'s spokesman on pump prices.', 'Prices are based on data collected by the Competition and Markets Authority (CMA) from nearly 3,000 forecourts and analysed by market research firm Fuel Prices Online.', 'Data showed that 28.1% of the forecourts were charging at least 150p per litre for petrol on Monday, up from 23.8% a week earlier.', 'But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up ""may not get much worse in the short-term"".', ""Oil prices have fallen after they spiked in the wake of Israel's retaliatory attack on Iran last week."", 'Caroline Bain, chief commodities economist at Capital Economics, said: ""Given that there will be some lag between spot crude oil prices in financial markets and prices on the forecourt, the latest rise is perhaps not so surprising.""', 'While Brent crude - a key benchmark for oil prices internationally - has receded from last week, it is still trading 13% higher at $87 per barrel compared to the start of the year.', 'Ms Bain said: ""We think that oil prices may well rise in the near-term if there is a further escalation of tensions in the Middle East, but that they will start to fall in the second half of this year.""', 'RAC fuel spokesman Simon Williams said that drivers were ""really starting to feel pain at the pumps"" but he claimed much of that depended on the margin that retailers may decide to take. ""', 'Higher margins always mean higher prices for drivers,"" he said.', 'The competition watchdog cited concerns about higher retailer margins - the difference between what a retailer pay for its fuel and what it sells at - as recently as last month.', 'In March, the CMA said that there had been a sustained increase in these margins which it found ""concerning"".', 'It suggested that one of the key findings of a market study it published last year - that competition levels in the fuel market have weakened - was still valid.', 'Concerns about the high price of fuel prompted the CMA to look into the sector and its study concluded that some retailers were overcharging.', 'It found that motorists generally have to shop around themselves, keeping an eye out for the best prices while they are out and about.', 'The government responded to the study by proposing the ""Pumpwatch"" scheme to ensure that fuel prices were updated in near real-time, so motorists can compare prices via price comparison websites, satnavs and navigation apps.', 'A consultation on the schemeis still ongoing.']",-0.0446788775681815,"But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up ""may not get much worse in the short-term"".","Caroline Bain, chief commodities economist at Capital Economics, said: ""Given that there will be some lag between spot crude oil prices in financial markets and prices on the forecourt, the latest rise is perhaps not so surprising.""",0.1335528923405541,Data also showed that average diesel prices rose to 158.3p a litre on Monday.,Oil prices have fallen after they spiked in the wake of Israel's retaliatory attack on Iran last week.,2024-04-25
-What is Bitcoin? Key cryptocurrency terms and what they mean,https://www.bbc.co.uk/news/world-us-canada-63963079,2022-12-13T23:07:08.000Z,"After Bitcoin's price banked a new all time high in March, the sticky subject of cryptocurrencies is back in the spotlight.  And while crypto market-moving events such as Bitcoin ""halving"" or the launch of ""spot ETFs"" may be familiar to crypto fans, their meaning is less obvious to many. But worry not. If you're hearing these for the first time, or just need a refresher, here are a few key words and what they mean. While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin. But what actually is it? Bitcoin is a cryptocurrency, which is to say a type of digital currency. Unlike traditional currencies - the dollar or pound, for example - Bitcoin is not controlled by centralised financial institutions. This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile - rising and falling in value at the whim of Bitcoin buyers and sellers.   Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high. But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched. The blockchain, the system that underpins Bitcoin, is sustained by rewarding so-called ""miners"" - whose job it is to validate transactions - by paying them with the cryptocurrency. However, unlike some other digital currencies, there is not an infinite supply of bitcoins. The amount that can be mined is capped at 21 million, and most are already in circulation.  So roughly every four years - or when the Bitcoin blockchain reaches a certain size - the number of bitcoins rewarded to those who successfully validate transactions is cut in half. The most recent Bitcoin ""halving"" (or ""halvening"") event took place on 20 April 2024, reducing the reward for miners from 6.25 bitcoins to 3.125. This ensures Bitcoin's supply is drawn out for longer while demand, in theory, goes up over time. But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers. Blockchain is the technology underpinning all cryptocurrencies, and many related products like non fungible tokens (NFTs). In essence, it is a virtual spreadsheet on which all the buying and selling of crypto is recorded. They are arranged in blocks linked together in a giant chain - hence the name.  Every cryptocurrency transaction is individually recorded onto the blockchain by a huge network of volunteers verifying its authenticity by using computer programmes.  The incentive to do this for Bitcoin's network is that the first person to validate transactions is rewarded in Bitcoin. This potentially lucrative process, known as mining, is also controversial because of the incredible amount of energy used as people the world over race to be the first to successfully update the blockchain. A crypto exchange is the digital platform where investors can buy, sell and trade cryptocurrencies. Similar to traditional investing, a crypto exchange acts as a brokerage where people can transfer traditional money, like pounds or dollars, from their banks into cryptocurrencies like Bitcoin or Ethereum. Most transactions are accompanied by fees. A crypto wallet is a place where investors hold their cryptocurrency. It stores the virtual assets much like a traditional wallet holds cash. There are two types, a hot wallet and a cold wallet. Hot wallets are connected to the internet, and thus more accessible for quick transfers and easy access. Cold wallets are physical devices like specially designed USBs that store crypto offline typically for safer and longer term storage. Ethereum is used to describe both the second largest cryptocurrency after Bitcoin, represented by the Ether token, and the blockchain underpinning it. This supports an array of different applications and digital assets, such as non-fungible tokens.  It functions in a similar way to Bitcoin and other cryptocurrencies, but in 2022 switched to a greener operating system requiring less computers and energy. ETFs are portfolios that let investors bet on multiple assets without having to buy any themselves. Traded on stock exchanges like shares, their value depends on how the overall portfolio performs in real time. They can comprise a combination of gold and silver bullion, for example, or a mix of shares in both technology and insurance companies. A spot Bitcoin ETF buys the cryptocurrency directly, ""on the spot"", at its current price, throughout the day. While some ETFs already contained Bitcoin indirectly, the US approved several spot Bitcoin ETFs in January 2024. This allowed new investors, such as investment management firms like Blackrock and Fidelity, to enter the speculative world of Bitcoin without having to worry about digital wallets or navigating crypto exchanges. ",BBC,13/12/2022,"[""After Bitcoin's price banked a new all time high in March, the sticky subject of cryptocurrencies is back in the spotlight."", 'And while crypto market-moving events such as Bitcoin ""halving"" or the launch of ""spot ETFs"" may be familiar to crypto fans, their meaning is less obvious to many.', 'But worry not.', ""If you're hearing these for the first time, or just need a refresher, here are a few key words and what they mean."", 'While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin.', 'But what actually is it?', 'Bitcoin is a cryptocurrency, which is to say a type of digital currency.', 'Unlike traditional currencies - the dollar or pound, for example - Bitcoin is not controlled by centralised financial institutions.', 'This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile - rising and falling in value at the whim of Bitcoin buyers and sellers.', 'Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high.', 'But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched.', 'The blockchain, the system that underpins Bitcoin, is sustained by rewarding so-called ""miners"" - whose job it is to validate transactions - by paying them with the cryptocurrency.', 'However, unlike some other digital currencies, there is not an infinite supply of bitcoins.', 'The amount that can be mined is capped at 21 million, and most are already in circulation.', 'So roughly every four years - or when the Bitcoin blockchain reaches a certain size - the number of bitcoins rewarded to those who successfully validate transactions is cut in half.', 'The most recent Bitcoin ""halving"" (or ""halvening"") event took place on 20 April 2024, reducing the reward for miners from 6.25 bitcoins to 3.125.', ""This ensures Bitcoin's supply is drawn out for longer while demand, in theory, goes up over time."", 'But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers.', 'Blockchain is the technology underpinning all cryptocurrencies, and many related products like non fungible tokens (NFTs).', 'In essence, it is a virtual spreadsheet on which all the buying and selling of crypto is recorded.', 'They are arranged in blocks linked together in a giant chain - hence the name.', 'Every cryptocurrency transaction is individually recorded onto the blockchain by a huge network of volunteers verifying its authenticity by using computer programmes.', ""The incentive to do this for Bitcoin's network is that the first person to validate transactions is rewarded in Bitcoin."", 'This potentially lucrative process, known as mining, is also controversial because of the incredible amount of energy used as people the world over race to be the first to successfully update the blockchain.', 'A crypto exchange is the digital platform where investors can buy, sell and trade cryptocurrencies.', 'Similar to traditional investing, a crypto exchange acts as a brokerage where people can transfer traditional money, like pounds or dollars, from their banks into cryptocurrencies like Bitcoin or Ethereum.', 'Most transactions are accompanied by fees.', 'A crypto wallet is a place where investors hold their cryptocurrency.', 'It stores the virtual assets much like a traditional wallet holds cash.', 'There are two types, a hot wallet and a cold wallet.', 'Hot wallets are connected to the internet, and thus more accessible for quick transfers and easy access.', 'Cold wallets are physical devices like specially designed USBs that store crypto offline typically for safer and longer term storage.', 'Ethereum is used to describe both the second largest cryptocurrency after Bitcoin, represented by the Ether token, and the blockchain underpinning it.', 'This supports an array of different applications and digital assets, such as non-fungible tokens.', 'It functions in a similar way to Bitcoin and other cryptocurrencies, but in 2022 switched to a greener operating system requiring less computers and energy.', 'ETFs are portfolios that let investors bet on multiple assets without having to buy any themselves.', 'Traded on stock exchanges like shares, their value depends on how the overall portfolio performs in real time.', 'They can comprise a combination of gold and silver bullion, for example, or a mix of shares in both technology and insurance companies.', 'A spot Bitcoin ETF buys the cryptocurrency directly, ""on the spot"", at its current price, throughout the day.', 'While some ETFs already contained Bitcoin indirectly, the US approved several spot Bitcoin ETFs in January 2024.', 'This allowed new investors, such as investment management firms like Blackrock and Fidelity, to enter the speculative world of Bitcoin without having to worry about digital wallets or navigating crypto exchanges.']",0.2672071279961822,"But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers.",But worry not.,-0.0973098344273037,"Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high.",But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched.,2024-04-25
-Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html,"
-  Updated
-        2:20 PM EDT, Tue March 26, 2024
-    ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.
-    
-            The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.
-    
-            Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.
-    
-            As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race.
-    
-            Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.
-    
-            In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-04-25
-The challenge of upgrading iconic steel windows,https://www.bbc.co.uk/news/business-68777865,2024-04-15T23:11:05.000Z,"Every winter, architect Kevin Adams would perform his early morning ritual of devotion. Cloth in hand, he'd head to the stylish Crittall windows in the East London flat where he once lived - because these windows, though stylish, were also sopping wet. ""You'd know to expect it - you wipe it down, you open the window as soon as you can, you don't let it puddle or rot the sills,"" he says of the moisture that used to form on the single-glazing and thin steel frames of his windows when the weather was cold. ""I put up with it because I loved them. We do all kinds of things for love, don't we?"" Not everyone who has lived with vintage steel-framed windows feels so affectionate towards them, however. Crittall Windows became synonymous both with modernism - and condensation, which can lead to serious problems such as mould, says Mr Adams, a teaching fellow at the Edinburgh College of Art.  While many consider such windows iconic and a key part of British architectural heritage, given today's high energy prices and rising awareness around the dangers of mould, efficient windows have become essential. Crittall, like all other companies in the glazing industry, has had to stay relevant to survive. The firm, now based in Witham, Essex, has been manufacturing steel-framed windows since the 1880s. The frames Crittall developed could be mass produced, then simply cut and welded to fit an array of standard window sizes. The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. ""Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains. Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through. Workers appreciated this - but so did the wealthy, who wanted light, airy homes. A large, art deco country house built by Walter Crittall in the 1930s was listed for sale last year at £1.65m.  On the Crittall factory floor today, there is a machine that dates to the 1920s. It is still used occasionally for gently bending steel frame sections into curved pieces, says managing director Russell Ager: ""It's an incredible piece of kit."" But the company has moved on in many other ways, he stresses, and nearby machines in the building are now state-of-the-art. ""We've done so much work to improve the thermal performance of the products,"" adds Mr Ager. Today you can get double and even triple-glazed Crittall windows. And crucially, the steel frames are now made with a thermal break, a glass fibre section of insulation within the frame that prevents heat escaping through its structure. The lack of a thermal break is what made the older frames so prone to becoming cold when the weather outside was chilly. Cold glass and steel encourage moisture in the indoor air to condense. The latest Crittall windows can achieve a U-value - a measure of their insulating performance - as low as 0.8, which is better than standard double-glazed windows. They are heftier than the vintage versions but Crittall has retained the classic look of relatively skinny metal frames and rectangular or square panes of glass. TikTok and Instagram accounts focusing on home décor often feature windows such as this, though Crittall has many competitors now that make similar-looking products, admits Mr Ager. According to Mr Adams, in the post-war era, there weren't many other firms operating in the same market as Crittall in the UK. But that has changed. Many companies, including KJM Group and Velfac offer aluminium alternatives. And there are other steel window makers out there, too, such as Fabco. ""Most consumers… buy our product because they love the look of it,"" says Mr Ager. Business, at the moment, is good. During the early stage of the Covid-19 pandemic, Crittall's sales to residential customers seeking to improve their properties spiked by 30%. And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager. More technology of business Dated heritage installations reaching the end of their life present another opportunity. Crittall recently replaced 100-year-old windows that the firm had made for a building in Central London with new, energy efficient versions of the same products. This kind of upgrade is not accessible to all, however, because of the relatively high cost of contemporary glazing, notes Claire Bennie, director of Municipal, a housing design and development consultancy. ""Every year we have a chat about it at our AGM and everyone is afraid of taking the plunge,"" she says, referring to residents' meetings at the block of 1930s flats in London where she lives. The old Crittall windows in the property give the building ""elegance"", says Ms Bennie but also makes them ""freezing"". Her own flat's windows are not prone to condensation - but only because they are so draughty that they stay well-ventilated, she explains.  It will be increasingly difficult to justify the installation of new metal-framed windows in the future because of the embodied carbon in materials such as steel, says Ms Bennie. To reduce emissions and tackle climate change, sustainable timber building products ought to become more and more prominent, she argues. Mr Ager says Crittall windows are made with 100% recycled steel and the company is working to make its products and operations as sustainable as possible. Other challenges facing the company in the coming years, include the possibility that building regulations in England will change, so as to demand extremely energy efficient windows in new build properties. Stricter standards could mean a need to make the frames thicker still and even better insulated, says Mr Ager: ""The frames would almost become unrecognisable. It would be a big issue for anybody that makes a metal frame."" Sustainability is paramount, stresses Ms Bennie, but she does say the ergonomic design of Crittall windows is hard to beat. The windows are often easy to open into a position where you can reach outside and clean them yourself, for instance. And the classic balcony doors made by the firm fold back neatly so as not to take up precious space outside. ""I wish modern window manufacturers would take a lesson from Crittall,"" she says, ""In how to make windows liveable and a pleasure to use.""  ",BBC,15/04/2024,"['Every winter, architect Kevin Adams would perform his early morning ritual of devotion.', 'Cloth in hand, he\'d head to the stylish Crittall windows in the East London flat where he once lived - because these windows, though stylish, were also sopping wet. ""', 'You\'d know to expect it - you wipe it down, you open the window as soon as you can, you don\'t let it puddle or rot the sills,"" he says of the moisture that used to form on the single-glazing and thin steel frames of his windows when the weather was cold. ""', 'I put up with it because I loved them.', 'We do all kinds of things for love, don\'t we?""', 'Not everyone who has lived with vintage steel-framed windows feels so affectionate towards them, however.', 'Crittall Windows became synonymous both with modernism - and condensation, which can lead to serious problems such as mould, says Mr Adams, a teaching fellow at the Edinburgh College of Art.', ""While many consider such windows iconic and a key part of British architectural heritage, given today's high energy prices and rising awareness around the dangers of mould, efficient windows have become essential."", 'Crittall, like all other companies in the glazing industry, has had to stay relevant to survive.', 'The firm, now based in Witham, Essex, has been manufacturing steel-framed windows since the 1880s.', 'The frames Crittall developed could be mass produced, then simply cut and welded to fit an array of standard window sizes.', 'The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. ""', 'Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains.', 'Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through.', 'Workers appreciated this - but so did the wealthy, who wanted light, airy homes.', 'A large, art deco country house built by Walter Crittall in the 1930s was listed for sale last year at £1.65m. On the Crittall factory floor today, there is a machine that dates to the 1920s.', 'It is still used occasionally for gently bending steel frame sections into curved pieces, says managing director Russell Ager: ""It\'s an incredible piece of kit.""', 'But the company has moved on in many other ways, he stresses, and nearby machines in the building are now state-of-the-art. ""', 'We\'ve done so much work to improve the thermal performance of the products,"" adds Mr Ager.', 'Today you can get double and even triple-glazed Crittall windows.', 'And crucially, the steel frames are now made with a thermal break, a glass fibre section of insulation within the frame that prevents heat escaping through its structure.', 'The lack of a thermal break is what made the older frames so prone to becoming cold when the weather outside was chilly.', 'Cold glass and steel encourage moisture in the indoor air to condense.', 'The latest Crittall windows can achieve a U-value - a measure of their insulating performance - as low as 0.8, which is better than standard double-glazed windows.', 'They are heftier than the vintage versions but Crittall has retained the classic look of relatively skinny metal frames and rectangular or square panes of glass.', 'TikTok and Instagram accounts focusing on home décor often feature windows such as this, though Crittall has many competitors now that make similar-looking products, admits Mr Ager.', ""According to Mr Adams, in the post-war era, there weren't many other firms operating in the same market as Crittall in the UK."", 'But that has changed.', 'Many companies, including KJM Group and Velfac offer aluminium alternatives.', 'And there are other steel window makers out there, too, such as Fabco. ""', 'Most consumers… buy our product because they love the look of it,"" says Mr Ager.', 'Business, at the moment, is good.', ""During the early stage of the Covid-19 pandemic, Crittall's sales to residential customers seeking to improve their properties spiked by 30%."", ""And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager."", 'More technology of business Dated heritage installations reaching the end of their life present another opportunity.', 'Crittall recently replaced 100-year-old windows that the firm had made for a building in Central London with new, energy efficient versions of the same products.', 'This kind of upgrade is not accessible to all, however, because of the relatively high cost of contemporary glazing, notes Claire Bennie, director of Municipal, a housing design and development consultancy. ""', 'Every year we have a chat about it at our AGM and everyone is afraid of taking the plunge,"" she says, referring to residents\' meetings at the block of 1930s flats in London where she lives.', 'The old Crittall windows in the property give the building ""elegance"", says Ms Bennie but also makes them ""freezing"".', ""Her own flat's windows are not prone to condensation - but only because they are so draughty that they stay well-ventilated, she explains."", 'It will be increasingly difficult to justify the installation of new metal-framed windows in the future because of the embodied carbon in materials such as steel, says Ms Bennie.', 'To reduce emissions and tackle climate change, sustainable timber building products ought to become more and more prominent, she argues.', 'Mr Ager says Crittall windows are made with 100% recycled steel and the company is working to make its products and operations as sustainable as possible.', 'Other challenges facing the company in the coming years, include the possibility that building regulations in England will change, so as to demand extremely energy efficient windows in new build properties.', 'Stricter standards could mean a need to make the frames thicker still and even better insulated, says Mr Ager: ""The frames would almost become unrecognisable.', 'It would be a big issue for anybody that makes a metal frame.""', 'Sustainability is paramount, stresses Ms Bennie, but she does say the ergonomic design of Crittall windows is hard to beat.', 'The windows are often easy to open into a position where you can reach outside and clean them yourself, for instance.', 'And the classic balcony doors made by the firm fold back neatly so as not to take up precious space outside. ""', 'I wish modern window manufacturers would take a lesson from Crittall,"" she says, ""In how to make windows liveable and a pleasure to use.""']",0.2012343859627007,"Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through.","The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. """,0.3039323623691286,"And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager.","Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains.",2024-04-25
-House passes legislation that could ban TikTok in the US amid high-stakes vote on foreign aid,https://edition.cnn.com/2024/04/20/tech/house-passes-legislation-that-could-ban-tiktok-in-the-us-amid-high-stakes-vote-on-foreign-aid/index.html,"
-  Published
-        1:33 PM EDT, Sat April 20, 2024
-    ","A potential US ban against TikTok took a major step toward becoming reality on Saturday as House lawmakers approved a hot-button bill targeting the app as part of a wide-ranging aid package for Israel and Ukraine.
-    
-            The bipartisan vote of 360-58 marks the latest defeat for TikTok in Washington, as the embattled social media company with 170 million US users fights for survival under its current ownership by ByteDance, its Chinese parent company.
-    
-            The bill passed by the House this weekend closely resembles an earlier version approved in March that would ban TikTok from US app stores unless it finds a new owner, and quickly.
-    
-            By attaching the TikTok bill to funding for Ukrainian military equipment and Israeli missile defense, House Republicans put the pressure on Senate lawmakers to consider the whole package in a single up-or-down vote.
-    
-            Policy analysts expect the Senate to take up the aid package quickly, giving it high odds of passage. And President Joe Biden has previously said he would sign the TikTok legislation if it reaches his desk.
-    
-            The fast-tracking of the TikTok bill shows how policy priorities outside the company’s control have merged to create a potent and potentially devastating outcome for an app that’s beloved by many young Americans but that US officials say is a national security risk.
-    
-            The version of the bill approved Saturday would, if signed, give TikTok 270 days to find a new owner, up from the roughly six months contemplated under prior versions of the legislation. And the bill also gives the White House an option to extend that deadline another 90 days if the president determines there’s progress toward a sale.
-    
-            TikTok has vocally opposed the bill. For weeks, TikTok has waged an intense lobbying campaign in a bid to defeat the legislation, arguing it violates its users’ First Amendment rights and threatens small businesses.
-    
-            “It is unfortunate that the House of Representatives is using the cover of important foreign and humanitarian assistance to once again jam through a ban bill that would trample the free speech rights of 170 million Americans, devastate 7 million businesses, and shutter a platform that contributes $24 billion to the U.S. economy, annually,” TikTok said in a post on X on Wednesday.
-    
-            TikTok has hinted it could sue to block the House’s divestiture legislation, telling users in March that it plans to continue fighting, “including (by) exercising our legal rights.” A court challenge over the law would set the stage for a high-stakes battle over Americans’ right to access digital information.
-    
-            Until this week, Senate lawmakers have been divided over the House’s proposal for a forced sale of TikTok. That shifted somewhat once the House unveiled its latest draft featuring a longer deadline. And in the days leading up to the House vote on Saturday, Senate Majority Leader Chuck Schumer emphasized the urgency of approving the foreign aid. On Saturday, Schumer said in remarks on the Senate floor that there is a tentative agreement for the chamber to take up the foreign aid package on Tuesday.
-    
-            All of that suggests a reasonably high likelihood the TikTok bill will pass, said Paul Gallant, a policy analyst at the market research firm Cowen Inc. Gallant estimates the odds of Senate passage at 80%.
-    
-            “We believe TikTok is unlikely to get stripped from the larger package,” Gallant wrote in a research note Friday, adding that the Senate is likely to take up the legislation within one to two weeks, though Senate leaders have indicated it could be passed even sooner.",CNN,20/04/2024,"['A potential US ban against TikTok took a major step toward becoming reality on Saturday as House lawmakers approved a hot-button bill targeting the app as part of a wide-ranging aid package for Israel and Ukraine.', 'The bipartisan vote of 360-58 marks the latest defeat for TikTok in Washington, as the embattled social media company with 170 million US users fights for survival under its current ownership by ByteDance, its Chinese parent company.', 'The bill passed by the House this weekend closely resembles an earlier version approved in March that would ban TikTok from US app stores unless it finds a new owner, and quickly.', 'By attaching the TikTok bill to funding for Ukrainian military equipment and Israeli missile defense, House Republicansput the pressure on Senate lawmakers to consider the whole package in a single up-or-down vote.', 'Policy analysts expect the Senate to take up the aid package quickly, giving it high odds of passage.', 'And President Joe Biden has previously said he would sign the TikTok legislation if it reaches his desk.', 'The fast-tracking of the TikTok bill shows how policy priorities outside the company’s control have merged to create a potent and potentially devastating outcome for an app that’s beloved by many young Americans but that US officials say is a national security risk.', 'The version of the bill approved Saturday would, if signed, give TikTok 270 days to find a new owner, up from the roughly six months contemplated under prior versions of the legislation.', 'And the bill also gives the White House an option to extend that deadline another 90 days if the president determines there’s progress toward a sale.', 'TikTok has vocally opposed the bill.', 'For weeks, TikTok has waged an intense lobbying campaign in a bid to defeat the legislation, arguing it violates its users’ First Amendment rights and threatens small businesses.', '“It is unfortunate that the House of Representatives is using the cover of important foreign and humanitarian assistance to once again jam through a ban bill that would trample the free speech rights of 170 million Americans, devastate 7 million businesses, and shutter a platform that contributes $24 billion to the U.S. economy, annually,” TikTok said in a post on X on Wednesday.', 'TikTok has hinted it could sue to block the House’s divestiture legislation, telling users in March that it plans to continue fighting, “including (by) exercising our legal rights.”', 'A court challenge over the law would set the stage for a high-stakes battle over Americans’ right to access digital information.', 'Until this week, Senate lawmakers have been divided over the House’s proposal for a forced sale of TikTok.', 'That shifted somewhat once the House unveiled its latest draft featuring a longer deadline.', 'And in the days leading up to the House vote on Saturday, Senate Majority Leader Chuck Schumer emphasized the urgency of approving the foreign aid.', 'On Saturday, Schumer said in remarks on the Senate floor that there is a tentative agreement for the chamber to take up the foreign aid package on Tuesday.', 'All of that suggests a reasonably high likelihood the TikTok bill will pass, said Paul Gallant, a policy analyst at the market research firm Cowen Inc. Gallant estimates the odds of Senate passage at 80%.', '“We believe TikTok is unlikely to get stripped from the larger package,” Gallant wrote in a research note Friday, adding that the Senate is likely to take up the legislation within one to two weeks, though Senate leaders have indicated it could be passed even sooner.']",-0.0636790521818323,"All of that suggests a reasonably high likelihood the TikTok bill will pass, said Paul Gallant, a policy analyst at the market research firm Cowen Inc. Gallant estimates the odds of Senate passage at 80%.","For weeks, TikTok has waged an intense lobbying campaign in a bid to defeat the legislation, arguing it violates its users’ First Amendment rights and threatens small businesses.",0.1092201405101352,"All of that suggests a reasonably high likelihood the TikTok bill will pass, said Paul Gallant, a policy analyst at the market research firm Cowen Inc. Gallant estimates the odds of Senate passage at 80%.",The fast-tracking of the TikTok bill shows how policy priorities outside the company’s control have merged to create a potent and potentially devastating outcome for an app that’s beloved by many young Americans but that US officials say is a national security risk.,2024-04-25
-Americans are falling behind on their payments,https://edition.cnn.com/2024/04/25/investing/premarket-stocks-trading-consumer-spending/index.html,"
-  Published
-        7:54 AM EDT, Thu April 25, 2024
-    ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.
-    
-            America’s relentless spending has kept the economy motoring. But it’s starting to worry some observers.
-    
-            Chicago Federal Reserve President Austan Goolsbee said Friday that while consumer debt levels aren’t yet “especially” high, the Fed is concerned about the rate of consumer delinquencies, or missed or late payments on expenses such as auto loans, credit card bills and rent.
-    
-            “If the delinquency rate of consumer loans starts rising, that is often a leading indicator for, ‘things are about to get worse,’” he said at a moderated panel hosted by the Society for Advancing Business Editing and Writing.
-    
-            Americans are already struggling to keep up with their credit card payments. Credit card debt rose $143 billion during the fourth quarter of 2023 from the year before, according to data from the New York Fed. The rate at which credit cards and auto loans are transitioning into delinquency continued to top pre-pandemic levels. Delinquency transition rates rose for all debt types excluding student loans. 
-    
-            “The pickup in credit card debt and delinquencies is consistent with the idea that consumers — particularly those [within] the bottom of the income and wealth distributions — are running out of surplus savings and turning back to credit to finance their spending,” wrote Evercore ISI in a Monday note.
-    
-            Strong consumer spending has buoyed the US economy through the Fed’s aggressive hiking cycle that has brought interest rates to a 23-year high. Economists say a strong economy, a solid job market and growth in household income has helped support consumers and makes a mass retrenchment in spending this year unlikely.
-    
-            But that doesn’t mean consumers are infallible. Lower-income Americans have been hit harder than their higher-income counterparts, turning to eating at home, searching for deals and dialing back their spending to ease the pain of persistent inflation and high rates.
-    
-            Economists say that Fed officials look closely at Americans’ ability to make their payments. If consumer spending were to weaken considerably, that would be a blow to the economy, which has managed to weather sky-high rates without tipping into a recession. A marked slowdown in spending could, in turn, further complicate the Fed’s thinking on where interest rates go next.
-    
-            Corporate earnings this week have underscored this mixed picture of American consumers: They’re resilient, but they’re tightening their purse strings. Spending is expected to moderate at least somewhat, despite holding up well.
-    
-            “The lower-income consumer in the US is stretched, is strategizing a lot to make their budgets get to the end of the month,” said PepsiCo Chief Executive Ramon Laguarta in the company’s earnings call on Tuesday.
-    
-            Investors will get their next look at the consumer’s health on Thursday morning, when the Commerce Department releases its first estimate of first-quarter gross domestic product. Consumer spending accounts for about two-thirds of the US economy.
-    
-            The Atlanta Fed projects that GDP grew at a 2.7% clip during the first three months of 2024, which would mark a slightly cooler but still solid rate.
-    
-            Trump Media & Technology Group is asking Congress to investigate its suspicions that illegal activity is driving down its share price, reports my colleague Matt Egan.
-    
-            In a letter disclosed Wednesday, Devin Nunes, CEO of Truth Social owner Trump Media (DJT), alerted the GOP Chairmen of the House Ways and Means, Judiciary, Financial Services and Oversight Committees to the “urgent matter” of “potential manipulation” of the company’s share price.
-    
-            “We assess there are strong indications of unlawful manipulation of DJT stock,” Nunes wrote in the letter.
-    
-            Nunes, himself a former Republican congressman from California, pointed to how Trump Media has been among the most expensive stocks to borrow. Traders who wish to short a stock, or bet the value will go down, must borrow shares elsewhere first.
-    
-            Nunes suggested there are signs of “naked” short selling, which involves someone selling shares they don’t own or have not borrowed.
-    
-            “This is particularly troubling given that ‘naked’ short selling often entails sophisticated market participants profiting at the expense of retail investors,” the Trump Media CEO wrote.
-    
-            Read more here.
-    
-            A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever having to bail out a major bank, reports my colleague Hanna Ziady.
-    
-            Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center.
-    
-            Speaking at the bank’s annual shareholder meeting Wednesday, UBS chairman Colm Kelleher said he was “seriously concerned” about current discussions that could force the bank to hold much more cash and other liquid assets. “Additional capital is the wrong remedy,” he said.
-    
-            “There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse. UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis.
-    
-            The deal has proved controversial in Switzerland, which is now home to a bank with assets almost double the size of its annual economic output.
-    
-            Read more here.",CNN,25/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'America’s relentless spending has kept the economy motoring.', 'But it’s starting to worry some observers.', 'Chicago Federal Reserve President Austan Goolsbee said Friday that while consumer debt levels aren’t yet “especially” high, the Fed is concerned about the rate of consumer delinquencies, or missed or late payments on expenses such as auto loans, credit card bills and rent.', '“If the delinquency rate of consumer loans starts rising, that is often a leading indicator for, ‘things are about to get worse,’” he said at a moderated panel hosted by the Society for Advancing Business Editing and Writing.', 'Americans are already struggling to keep up with their credit card payments.', 'Credit card debt rose $143 billion during the fourth quarter of 2023 from the year before, according to data from the New York Fed.', 'The rate at which credit cards and auto loans are transitioning into delinquency continued to top pre-pandemic levels.', 'Delinquency transition rates rose for all debt types excluding student loans.', '“The pickup in credit card debt and delinquencies is consistent with the idea that consumers — particularly those [within] the bottom of the income and wealth distributions — are running out of surplus savings and turning back to credit to finance their spending,” wrote Evercore ISI in a Monday note.', 'Strong consumer spending has buoyed the US economy through the Fed’s aggressive hiking cycle that has brought interest rates to a 23-year high.', 'Economists say a strong economy, a solid job market and growth in household income has helped support consumers and makes a mass retrenchment in spending this year unlikely.', 'But that doesn’t mean consumers are infallible.', 'Lower-income Americans have been hit harder than their higher-income counterparts, turning to eating at home, searching for deals and dialing back their spending to ease the pain of persistent inflation and high rates.', 'Economists say that Fed officials look closely at Americans’ ability to make their payments.', 'If consumer spending were to weaken considerably, that would be a blow to the economy, which has managed to weather sky-high rates without tipping into a recession.', 'A marked slowdown in spending could, in turn, further complicate the Fed’s thinking on where interest rates go next.', 'Corporate earnings this week have underscored this mixed picture of American consumers: They’re resilient, but they’re tightening their purse strings.', 'Spending is expected to moderate at least somewhat, despite holding up well.', '“The lower-income consumer in the US is stretched, is strategizing a lot to make their budgets get to the end of the month,” said PepsiCo Chief Executive Ramon Laguarta in the company’s earnings call on Tuesday.', 'Investors will get their next look at the consumer’s health on Thursday morning, when the Commerce Department releases its first estimate of first-quarter gross domestic product.', 'Consumer spending accounts for about two-thirds of the US economy.', 'The Atlanta Fed projects that GDP grew at a 2.7% clip during the first three months of 2024, which would mark a slightly cooler but still solid rate.', 'Trump Media & Technology Group is asking Congress to investigate its suspicions that illegal activity is driving down its share price, reports my colleague Matt Egan.', 'In a letter disclosed Wednesday, Devin Nunes, CEO of Truth Social owner Trump Media (DJT), alerted the GOP Chairmen of the House Ways and Means, Judiciary, Financial Services and Oversight Committees to the “urgent matter” of “potential manipulation” of the company’s share price.', '“We assess there are strong indications of unlawful manipulation of DJT stock,” Nunes wrote in the letter.', 'Nunes, himself a former Republican congressman from California, pointed to how Trump Media has been among the most expensive stocks to borrow.', 'Traders who wish to short a stock, or bet the value will go down, must borrow shares elsewhere first.', 'Nunes suggested there are signs of “naked” short selling, which involves someone selling shares they don’t own or have not borrowed.', '“This is particularly troubling given that ‘naked’ short selling often entails sophisticated market participants profiting at the expense of retail investors,” the Trump Media CEO wrote.', 'Read more here.', 'A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever having to bail out a major bank, reports my colleague Hanna Ziady.', 'Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center.', 'Speaking at the bank’s annual shareholder meeting Wednesday, UBS chairman Colm Kelleher said he was “seriously concerned” about current discussions that could force the bank to hold much more cash and other liquid assets. “', 'Additional capital is the wrong remedy,” he said.', '“There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse.', 'UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis.', 'The deal has proved controversial in Switzerland, which is now home to a bank with assets almost double the size of its annual economic output.', 'Read more here.']",0.0040710602407703,"Economists say a strong economy, a solid job market and growth in household income has helped support consumers and makes a mass retrenchment in spending this year unlikely.","If consumer spending were to weaken considerably, that would be a blow to the economy, which has managed to weather sky-high rates without tipping into a recession.",-0.3725124796231587,"Credit card debt rose $143 billion during the fourth quarter of 2023 from the year before, according to data from the New York Fed.","If consumer spending were to weaken considerably, that would be a blow to the economy, which has managed to weather sky-high rates without tipping into a recession.",2024-04-25
-Australian PM calls Elon Musk an 'arrogant billionaire' in row over attack footage,https://www.bbc.co.uk/news/world-australia-68878967,2024-04-23T03:42:53.000Z,"Australia's leader has called Elon Musk an ""arrogant billionaire"" in an escalating feud over X's reluctance to remove footage of a church stabbing. On Monday, an Australian court ordered Mr Musk's social media firm - formerly called Twitter - to hide videos of last week's attack in Sydney.  X previously said it would comply ""pending a legal challenge"". Prime Minister Anthony Albanese's criticism followed Mr Musk using a meme to accuse his government of censorship.  On Tuesday, Mr Albanese told ABC News that Mr Musk ""thinks he's above the law but also above common decency"". Last week Australia's eSafety Commissioner, an independent regulator, threatened X and other social media companies with hefty fines if they did not remove videos of the stabbing at the Assyrian Christ the Good Shepherd church, which police have called a terror attack. X agreed to geo-block the videos in Australia but has argued against restricting access for its global users.  ""I find it extraordinary that X chose not to comply and are trying to argue their case,"" Mr Albanese told a press briefing.  In a subsequent series of online posts, Mr Musk wrote: ""I'd like to take a moment to thank the PM for informing the public that this platform is the only truthful one."" Another depicted a Wizard of Oz-style path to ""freedom"" leading to an X logo.  Earlier, he also criticised eSafety Commissioner Julie Inman Grant personally, describing her as the ""Australian censorship commissar"".  Mr Albanese defended Ms Inman Grant, saying she was protecting Australians. ""Social media needs to have social responsibility with it. Mr Musk is not showing any,"" he said.  The platform will have 24 hours to comply with Monday evening's injunction, with a further hearing into the matter expected in the coming days.  X and the eSafety Commissioner are already involved in legal proceedings over the platform's alleged failure to provide information over how it tracks and removes child abuse material online.  ",BBC,23/04/2024,"['Australia\'s leader has called Elon Musk an ""arrogant billionaire"" in an escalating feud over X\'s reluctance to remove footage of a church stabbing.', ""On Monday, an Australian court ordered Mr Musk's social media firm - formerly called Twitter - to hide videos of last week's attack in Sydney."", 'X previously said it would comply ""pending a legal challenge"".', ""Prime Minister Anthony Albanese's criticism followed Mr Musk using a meme to accuse his government of censorship."", 'On Tuesday, Mr Albanese told ABC News that Mr Musk ""thinks he\'s above the law but also above common decency"".', ""Last week Australia's eSafety Commissioner, an independent regulator, threatened X and other social media companies with hefty fines if they did not remove videos of the stabbing at the Assyrian Christ the Good Shepherd church, which police have called a terror attack."", 'X agreed to geo-block the videos in Australia but has argued against restricting access for its global users. ""', 'I find it extraordinary that X chose not to comply and are trying to argue their case,"" Mr Albanese told a press briefing.', 'In a subsequent series of online posts, Mr Musk wrote: ""I\'d like to take a moment to thank the PM for informing the public that this platform is the only truthful one.""', 'Another depicted a Wizard of Oz-style path to ""freedom"" leading to an X logo.', 'Earlier, he also criticised eSafety Commissioner Julie Inman Grant personally, describing her as the ""Australian censorship commissar"".', 'Mr Albanese defended Ms Inman Grant, saying she was protecting Australians. ""', 'Social media needs to have social responsibility with it.', 'Mr Musk is not showing any,"" he said.', ""The platform will have 24 hours to comply with Monday evening's injunction, with a further hearing into the matter expected in the coming days."", ""X and the eSafety Commissioner are already involved in legal proceedings over the platform's alleged failure to provide information over how it tracks and removes child abuse material online.""]",-0.1686113864252902,"In a subsequent series of online posts, Mr Musk wrote: ""I'd like to take a moment to thank the PM for informing the public that this platform is the only truthful one.""","X agreed to geo-block the videos in Australia but has argued against restricting access for its global users. """,-0.9855695366859436,,"Last week Australia's eSafety Commissioner, an independent regulator, threatened X and other social media companies with hefty fines if they did not remove videos of the stabbing at the Assyrian Christ the Good Shepherd church, which police have called a terror attack.",2024-04-25
-"Judge approves multimillion-dollar Realtor settlement, upending the way Americans buy and sell homes",https://edition.cnn.com/2024/04/24/homes/nar-settlement-broker-commissions-approval/index.html,"
-  Updated
-        4:27 PM EDT, Wed April 24, 2024
-    ","A federal judge gave a green light to the National Association of Realtors’ settlement, paving the way for an overhaul of the way people buy and sell their homes in the United States.
-    
-            On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a Missouri court. A final approval hearing is set for November 26.
-    
-            Housing experts say the settlement may effectively demolish the current real estate business model. Under the current system, home sellers pay the full commission, usually 5% or 6%, which is generally shared between the agent representing the seller and an agent representing the buyer. Critics say this practice inflates housing prices.
-    
-            In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”
-    
-            “It has always been NAR’s goal to resolve this litigation in a way that preserves consumer choice and protects our members to the greatest extent possible,” the spokesperson said. “This proposed settlement achieves both of those goals and provides a path for us to move forward and continue our work to preserve, protect, and advance the right to real property for all.”
-    
-            Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws.
-    
-            Under the terms of settlement, which was announced in March, sellers’ agents will no longer be required to offer commissions to buyers’ agents.
-    
-            While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they will become competitive and negotiable.
-    
-            However, some in the real estate field warn that the change could raise costs for homebuyers, who are already shelling out a large chunk of money for what is often the largest purchase of their lives. If sellers are no longer paying buyers’ agents, homebuyers may be on the hook to pay their broker directly.
-    
-            The NAR said changes are slated to take effect in late July, but the mere prospect of the rule change has already caused some Americans to change the way they buy and sell homes. One home seller in Minnesota, Matt Hanley, told CNN last month that when he lists his home this spring, he plans to offer a 0% commission to the buyer’s agent, effectively forcing a potential buyer to negotiate their agents’ commission on their own.
-    
-            “Why wait for the settlement? This is common knowledge now,” Hanley said. “I’m going to try to be at the start of this bell curve.”",CNN,24/04/2024,"['A federal judge gave a green light to the National Association of Realtors’ settlement, paving the way for an overhaul of the way people buy and sell their homes in the United States.', 'On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a Missouri court.', 'A final approval hearing is set for November 26.', 'Housing experts say the settlement may effectively demolish the current real estate business model.', 'Under the current system, home sellers pay the full commission, usually 5% or 6%, which is generally shared between the agent representing the seller and an agent representing the buyer.', 'Critics say this practice inflates housing prices.', 'In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”', '“It has always been NAR’s goal to resolve this litigation in a way that preserves consumer choice and protects our members to the greatest extent possible,” the spokesperson said. “', 'This proposed settlement achieves both of those goals and provides a path for us to move forward and continue our work to preserve, protect, and advance the right to real property for all.”', 'Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws.', 'Under the terms of settlement, which was announced in March, sellers’ agents will no longer be required to offer commissions to buyers’ agents.', 'While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they will become competitive and negotiable.', 'However, some in the real estate field warn that the change could raise costs for homebuyers, who are already shelling out a large chunk of money for what is often the largest purchase of their lives.', 'If sellers are no longer paying buyers’ agents, homebuyers may be on the hook to pay their broker directly.', 'The NAR said changes are slated to take effect in late July, but the mere prospect of the rule change has already caused some Americans to change the way they buy and sell homes.', 'One home seller in Minnesota, Matt Hanley, told CNN last month that when he lists his home this spring, he plans to offer a 0% commission to the buyer’s agent, effectively forcing a potential buyer to negotiate their agents’ commission on their own.', '“Why wait for the settlement?', 'This is common knowledge now,” Hanley said. “', 'I’m going to try to be at the start of this bell curve.”']",0.1951286047167594,"In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”","Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws.",0.0231446206569671,"In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”","However, some in the real estate field warn that the change could raise costs for homebuyers, who are already shelling out a large chunk of money for what is often the largest purchase of their lives.",2024-04-25
-"US economy grew by just 1.6% in the first quarter, a much slower pace than expected",https://edition.cnn.com/2024/04/25/economy/first-quarter-gdp-economy/index.html,"
-  Updated
-        9:40 AM EDT, Thu April 25, 2024
-    ","The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no rush to cut rates.
-    
-            Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday. It was the weakest pace of growth since the second quarter of 2022 when the economy contracted.
-    
-            That’s a steep slowdown from the fourth quarter’s 3.4% rate and also below the 2.2% rate economists projected, according to a FactSet poll. The figures are adjusted for seasonal swings and inflation.
-    
-            A sharp increase in imports, which subtracts from GDP, contributed to the slowdown in growth from the fourth quarter, shaving off nearly an entire percentage point. Spending on imports jumped to a 7.2% rate from 2.2% in the fourth quarter.
-    
-            A decrease in inventory investment in the private sector also weighed on the economy earlier this year. There was also a sharp slowdown in government spending.
-    
-            Consumer spending, which accounts for the lion’s share of economic output, also slowed earlier this year, but it still fueled growth in the first quarter. A key gauge of demand in the economy — final sales to private domestic purchasers — remained strong in the January-through-March period, slowing only slightly from the fourth quarter.
-    
-            The Dow tumbled by 500 points at the opening bell, the S&P 500 fell 1.3% and the Nasdaq Composite declined by 2%.
-    
-            Inflation slowed considerably last year, but the pace of its descent has stalled in recent months. That’s the main reason why the Fed isn’t planning to cut interest rates imminently, but the economy’s resilience is also reassuring central bankers that they can afford to sit still and wait for inflation to budge lower. Fed officials will begin to cut rates once they’re convinced that inflation is under control and is on track to their 2% target — but they could also reduce rates sooner than expected if the economy suddenly falters.
-    
-            For now, economic growth remains healthy, despite the weaker-than-expected first-quarter GDP reading, as employers continue to hire at a solid clip and workers still command robust wage gains. Economists and Fed policymakers are still widely expecting that momentum to slow even further this year, with interest rates perched at a two-decade high, but a recession this year isn’t in the cards.
-    
-            “Consumers are becoming a bit more selective with what they purchase and how much of it because of the high interest-rate environment and because inflation remains high,” Oren Klachkin, financial market economist at Nationwide, told CNN. “But as long as the job market remains solid, they will continue to spend. That is more than compensating for the fact that there’s continued pressure from the inflation front and interest rates.”
-    
-            The latest GDP reading dealt some damage to the narrative that the US economy might be overheating. For interest rates, that means rate cuts could begin sooner rather than later.
-    
-            “The softer first read of Q1 GDP could shift — again — the Fed’s timetable for initiating the rate easing cycle, with July coming back into play,” Quincy Krosby, chief global strategist at LPL Financial, said in a note Thursday.
-    
-            Federal Reserve officials meet next week to deliberate on their latest interest rate decision.
-    
-            Americans are still opening up their wallets, which is keeping the economy afloat for now.
-    
-            Consumer spending slowed in the first quarter to a 2.5% rate, down from the 3.3% rate in the fourth quarter, mainly driven by a pullback in goods spending. Household outlays were responsible for the majority of growth from January through March. With the job market still humming along, Americans are likely to continue to spend.
-    
-            Visa, the world’s largest payment processor, beat estimates in its latest earnings results released this week, largely thanks to resilient spending.
-    
-            “Consumer spend across all segments from low-to-high spend has remained relatively stable. Our data does not indicate any meaningful behavior change across consumer segments,” Chris Suh, chief financial officer at Visa, said in an earnings call.
-    
-            But there are some signs of stress. Credit card debt levels and delinquencies have been rising, which are gauges the Fed is paying close attention to.
-    
-            Chicago Fed President Austan Goolsbee said recently that consumer debt levels aren’t yet “especially” high, but that an increase can sometimes be a harbinger for weakness on the horizon.
-    
-            “If the delinquency rate of consumer loans starts rising, that is often a leading indicator for ‘things are about to get worse,’” he said Friday at a moderated panel hosted by the Society for Advancing Business Editing and Writing.",CNN,25/04/2024,"['The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards.', 'Economic growth has slowed steadily over the past 12 months, which bodes well for lower interest rates, but the Federal Reserve has made it clear it’s in no rush to cut rates.', 'Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday.', 'It was the weakest pace of growth since the second quarter of 2022 when the economy contracted.', 'That’s a steep slowdown from the fourth quarter’s 3.4% rate and also below the 2.2% rate economists projected, according to a FactSet poll.', 'The figures are adjusted for seasonal swings and inflation.', 'A sharp increase in imports, which subtracts from GDP, contributed to the slowdown in growth from the fourth quarter, shaving off nearly an entire percentage point.', 'Spending on imports jumped to a 7.2% rate from 2.2% in the fourth quarter.', 'A decrease in inventory investment in the private sector also weighed on the economy earlier this year.', 'There was also a sharp slowdown in government spending.', 'Consumer spending, which accounts for the lion’s share of economic output, also slowed earlier this year, but it still fueled growth in the first quarter.', 'A key gauge of demand in the economy — final sales to private domestic purchasers — remained strong in the January-through-March period, slowing only slightly from the fourth quarter.', 'The Dow tumbled by 500 points at the opening bell, the S&P 500 fell 1.3% and the Nasdaq Composite declined by 2%.', 'Inflation slowed considerably last year, but the pace of its descenthas stalled in recent months.', 'That’s the main reason why the Fed isn’t planning to cut interest rates imminently, but the economy’s resilience is also reassuring central bankers that they can afford to sit still and wait for inflation to budge lower.', 'Fed officials will begin to cut rates once they’re convinced that inflation is under control and is on track to their 2% target — but they could also reduce rates sooner than expected if the economy suddenly falters.', 'For now, economic growth remains healthy, despite the weaker-than-expected first-quarter GDP reading, as employers continue to hire at a solid clip and workers still command robust wage gains.', 'Economists and Fed policymakers are still widely expecting that momentum to slow even further this year, with interest rates perched at a two-decade high, but a recession this year isn’t in the cards.', '“Consumers are becoming a bit more selective with what they purchase and how much of it because of the high interest-rate environment and because inflation remains high,” Oren Klachkin, financial market economist at Nationwide, told CNN. “', 'But as long as the job market remains solid, they will continue to spend.', 'That is more than compensating for the fact that there’s continued pressure from the inflation front and interest rates.”', 'The latest GDP reading dealt some damage to the narrative that the US economy might be overheating.', 'For interest rates, that means rate cuts could begin sooner rather than later.', '“The softer first read of Q1 GDP could shift — again — the Fed’s timetable for initiating the rate easing cycle, with July coming back into play,” Quincy Krosby, chief global strategist at LPL Financial, said in a note Thursday.', 'Federal Reserve officials meet next week to deliberate on their latest interest rate decision.', 'Americans are still opening up their wallets, which is keeping the economy afloat for now.', 'Consumer spending slowed in the first quarter to a 2.5% rate, down from the 3.3% rate in the fourth quarter, mainly driven by a pullback in goods spending.', 'Household outlays were responsible for the majority of growth from January through March.', 'With the job market still humming along, Americans are likely to continue to spend.', 'Visa, the world’s largest payment processor, beat estimates in its latest earnings results released this week, largely thanks to resilient spending.', '“Consumer spend across all segments from low-to-high spend has remained relatively stable.', 'Our data does not indicate any meaningful behavior change across consumer segments,” Chris Suh, chief financial officer at Visa, said in an earnings call.', 'But there are some signs of stress.', 'Credit card debt levels and delinquencies have been rising, which are gauges the Fed is paying close attention to.', 'Chicago Fed President Austan Goolsbee said recently that consumer debt levels aren’t yet “especially” high, but that an increase can sometimes be a harbinger for weakness on the horizon.', '“If the delinquency rate of consumer loans starts rising, that is often a leading indicator for ‘things are about to get worse,’” he said Friday at a moderated panel hosted by the Society for Advancing Business Editing and Writing.']",0.0918375579834036,"For now, economic growth remains healthy, despite the weaker-than-expected first-quarter GDP reading, as employers continue to hire at a solid clip and workers still command robust wage gains.",But there are some signs of stress.,-0.2158971045698438,Spending on imports jumped to a 7.2% rate from 2.2% in the fourth quarter.,"Consumer spending slowed in the first quarter to a 2.5% rate, down from the 3.3% rate in the fourth quarter, mainly driven by a pullback in goods spending.",2024-04-25
-Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html,"
-  Published
-        5:33 AM EDT, Tue March 19, 2024
-    ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.
-    
-            However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.
-    
-            For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.
-    
-            “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.”
-    
-            Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.
-    
-            For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.
-    
-            According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.”
-    
-            Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.
-    
-            Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.
-    
-            US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.
-    
-            Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. 
-    
-            “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.”
-    
-            Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.
-    
-            “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-04-25
-Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html,"
-  Published
-        1:17 PM EDT, Tue March 26, 2024
-    ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.
-    
-            On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.
-    
-            Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.
-    
-            Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.
-    
-            The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.
-    
-            And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.
-    
-            “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.
-    
-            “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.
-    
-            X said it plans to appeal Breyer’s decision.
-    
-            In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits.
-    
-            He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X.
-    
-            This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.
-    
-            The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”
-    
-            As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.
-    
-            “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”
-    
-            A representative for X did not immediately respond to a request for comment about Carusone���s claims.
-    
-            Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.
-    
-            Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.
-    
-            The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.
-    
-            Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.
-    
-            “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.”
-    
-            “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”
-    
-            Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.
-    
-            “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.
-    
-            Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X.  This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-04-25
-How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html,"
-  Published
-        3:00 PM EDT, Wed March 20, 2024
-    ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.
-    
-            That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).
-    
-            But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.
-    
-            That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.
-    
-            However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.”
-    
-            So, consider the following options when deciding where to park your hard-earned savings.
-    
-            The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.
-    
-            By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.
-    
-            Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.
-    
-            While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.
-    
-            As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement.
-    
-            Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.
-    
-            You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.
-    
-            As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.
-    
-            If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.
-    
-            To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties.
-    
-            As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.
-    
-            Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854.
-    
-            “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said.
-    
-            If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.
-    
-            For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD.
-    
-            But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.
-    
-            If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.
-    
-            Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.
-    
-            But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.
-    
-            Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.
-    
-            Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.
-    
-            Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.
-    
-            If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.
-    
-            And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.
-    
-            When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.
-    
-            What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said.
-    
-            That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake.
-    
-            Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-04-25
-Spotify turns up volume to make record profits,https://www.bbc.co.uk/news/business-68884501,2024-04-23T23:18:55.000Z,"Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff.  The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.  But its quarterly gross profit came at the expense of missing its forecast for monthly active users. Last year it cut 17% of its workforce in a move to clamp down on costs. Spotify's CEO Daniel Ek said last December about 1,500 jobs would be axed as part of ""substantial action to rightsize our costs"" so that the company could meet its objectives.  But the tech company has been on a mission expand worldwide and reach a billion users by 2030.  On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences.  ""We are going to add back some marketing spend over the year,"" Mr Ek said. ""Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much."" Much of Spotify's profits were driven by its podcast business. Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.  It invested over a billion euros to build up its podcast business, including spending hundreds of millions for popular shows such as the ""The Joe Rogan Experience"". ""It [podcasting] was a drag last year. Now it is another profit centre for us,"" Mr Ek said. The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn.  Spotify has raised prices to boost revenue and experimented with different subscription plans. The streaming service would also provide a music-only tier for ""those consumers that only care about the music side"", the firm's CEO said.  Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter. It aims to have 631 million midway through the year.  However, the number of premium subscribers rose by 14% in the first quarter to 239 million, in line with estimates. Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday. Since it launched in 2006, Spotify has invested a huge amount of money growing the business, and in securing exclusive content.  Podcasts created by Michelle and Barack Obama, as well as the Duke and Duchess of Sussex, have all featured on the platform. The deal with Harry and Meghan cost a reported $25m (£19.7m) and saw just 12 episodes delivered over two-and-a-half years before the deal ended last June. ",BBC,23/04/2024,"['Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff.', 'The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.', 'But its quarterly gross profit came at the expense of missing its forecast for monthly active users.', 'Last year it cut 17% of its workforce in a move to clamp down on costs.', 'Spotify\'s CEO Daniel Ek said last December about 1,500 jobs would be axed as part of ""substantial action to rightsize our costs"" so that the company could meet its objectives.', 'But the tech company has been on a mission expand worldwide and reach a billion users by 2030.', 'On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. ""', 'We are going to add back some marketing spend over the year,"" Mr Ek said. ""', 'Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much.""', ""Much of Spotify's profits were driven by its podcast business."", 'Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.', 'It invested over a billion euros to build up its podcast business, including spending hundreds of millions for popular shows such as the ""The Joe Rogan Experience"". ""', 'It [podcasting] was a drag last year.', 'Now it is another profit centre for us,"" Mr Ek said.', ""The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn."", 'Spotify has raised prices to boost revenue and experimented with different subscription plans.', 'The streaming service would also provide a music-only tier for ""those consumers that only care about the music side"", the firm\'s CEO said.', 'Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter.', 'It aims to have 631 million midway through the year.', 'However, the number of premium subscribers rose by 14% in the first quarter to 239 million, in line with estimates.', 'Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday.', 'Since it launched in 2006, Spotify has invested a huge amount of money growing the business, and in securing exclusive content.', 'Podcasts created by Michelle and Barack Obama, as well as the Duke and Duchess of Sussex, have all featured on the platform.', 'The deal with Harry and Meghan cost a reported $25m (£19.7m) and saw just 12 episodes delivered over two-and-a-half years before the deal ended last June.']",0.1906110485978383,"On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. ""","Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.",0.2569666728377342,"The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn.","Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter.",2024-04-25
-TikTok suspends TikTok Lite rewards program in the EU amid regulatory scrutiny,https://edition.cnn.com/2024/04/25/tech/tiktok-suspends-tiktok-lite-program-eu/index.html,"
-  Published
-        12:36 PM EDT, Thu April 25, 2024
-    ","TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators.
-    
-            The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for engaging with TikTok content and app features.
-    
-            TikTok said it was “voluntarily” suspending the rewards program after the European Commission announced Monday it could impose fines and a mandatory suspension over concerns that the feature may drive addiction by encouraging users to interact with the platform more.
-    
-            “TikTok always seeks to engage constructively with the EU Commission and other regulators,” TikTok said in a post on X. “We are therefore voluntarily suspending the rewards functions in TikTok Lite while we address the concerns that they have raised.”
-    
-            The EU warnings to TikTok reflected an exercise of new oversight powers granted by the Digital Services Act, the trading bloc’s recently enacted law governing online platforms. In opening a probe into TikTok Lite earlier this week, the European Commission said that TikTok could be fined for failing to provide information it owes to the Commission about the app, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.
-    
-            Failure to hand over the risk assessment and risk mitigation report could result in fines of up to 1% of TikTok’s global annual revenue and “periodic penalties” of up to 5% of TikTok’s average daily revenue, the Commission said previously. TikTok also faces further, additional fines of up to 6% of its global annual revenue if the TikTok Lite feature is determined to be in violation of the DSA.
-    
-            TikTok’s move to suspend TikTok Lite’s reward features in Europe, meanwhile, comes as it faces its biggest threat yet to its United States operations. President Joe Biden on Wednesday signed a bill that could lead to a nationwide TikTok ban, after Congress passed the bill earlier this week as part of a wide-ranging foreign aid package meant to support Israel and Ukraine. Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely.",CNN,25/04/2024,"['TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators.', 'The program at issue appears within TikTok Lite, a less data-intensive version of TikTok’s main app, and which contains a feature that rewards users with cash for engaging with TikTok content and app features.', 'TikTok said it was “voluntarily” suspending the rewards program after the European Commissionannounced Mondayit could impose fines and a mandatory suspension over concerns that the feature may drive addiction by encouraging users to interact with the platform more.', '“TikTok always seeks to engage constructively with the EU Commission and other regulators,” TikTok said in apost on X. “We are therefore voluntarily suspending the rewards functions in TikTok Lite while we address the concerns that they have raised.”', 'The EU warnings to TikTok reflected an exercise of new oversight powers granted by the Digital Services Act, the trading bloc’s recently enacted law governing online platforms.', 'In opening a probe into TikTok Lite earlier this week, the European Commission said that TikTok could be fined for failing to provide information it owes to the Commission about the app, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.', 'Failure to hand over the risk assessment and risk mitigation report could result in fines of up to 1% of TikTok’s global annual revenue and “periodic penalties” of up to 5% of TikTok’s average daily revenue, the Commission said previously.', 'TikTok also faces further, additional fines of up to 6% of its global annual revenue if the TikTok Lite feature is determined to be in violation of the DSA.', 'TikTok’s move to suspend TikTok Lite’s reward features in Europe, meanwhile, comes as it faces its biggest threat yet to its United States operations.', 'President Joe Biden on Wednesday signed a bill that could lead to a nationwide TikTok ban, after Congress passed the bill earlier this week as part of a wide-ranging foreign aid package meant to support Israel and Ukraine.', 'Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely.']",-0.0549527111153452,TikTok said it was “voluntarily” suspending the rewards program after the European Commissionannounced Mondayit could impose fines and a mandatory suspension over concerns that the feature may drive addiction by encouraging users to interact with the platform more.,"In opening a probe into TikTok Lite earlier this week, the European Commission said that TikTok could be fined for failing to provide information it owes to the Commission about the app, including a risk assessment report and a separate report outlining steps the company has taken to minimize those risks.",-0.9905916094779968,,TikTok said Wednesday it would suspend a controversial program in the European Union that has prompted growing alarm among EU regulators.,2024-04-25
-How robots are taking over warehouse work,https://www.bbc.co.uk/news/business-68639533,2024-04-23T01:17:00.000Z,"Shoppers probably don't think much about what happens next when they place an online grocery order. But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers. At an Ocado warehouse just outside Luton, I'm in the middle of such a dance. As far as I can see, hundreds of robots whizz around a grid, fetching items for online orders. They move with dizzying speed and precision. In the early days of online shopping, when you placed an order, humans would dash around a warehouse or a store collecting your items. But for years now, Ocado has been using robots to collect and distribute products, bringing them to staff, who pack them into boxes for delivery. And Ocado is not the only firm investing in such automation. In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway's AutoStore. In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic. Back in Luton, Ocado has taken its automation process to a higher level. The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer's shop. Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end. It might seem like a trivial addition, but training a robot to recognise an item, grab it successfully and move it, is surprisingly difficult.  At Ocado around 100 engineers have spent years training the artificial intelligence (AI) to take on that task.  James Matthews, chief executive of Ocado Technology explains the AI has to interpret the information coming from its cameras.  ""What is an object? Where are the edges of that object? How would one grasp it?"" In addition the AI has to work out how to move the arm. ""How do I pick that up and accelerate in a way without flinging it across the room? How do I place it in a bag?"" he says. The Luton warehouse has 44 robotic arms, which at the moment account for 15% of the products that flow through the facility, that's about 400,000 items a week. The rest are handled by staff at picking stations.  The staff handle items that robots are not ready for yet, like wine bottles which are heavy and have curved surfaces, making them difficult to grasp. But the system is ramping up. The company is developing different attachments for the robot arms that will allow them to handle a wider variety of items. ""We're just playing it carefully and ramping slowly over time,"" says Mr Matthews. ""It's a deliberate constraint on our behalf, so we continue providing good service to people, and not crushed custard creams in every order, or worse, putting stuff on the track that goes under the wheels of one of the bots and creates an incident."" In two or three years Ocado expects the robots will account for 70% of the products.  This inevitably means fewer human staff, but the Luton warehouse still has 1,400 staff, and many of those will still be needed in the future. ""There will be some sort of curve that tends towards fewer people per building. But it's not as clear cut as, 'hey, look, we're on the verge of just not needing people'. We're a very long way from that,"" Mr Matthews says. Ocado is hoping to sell its automation technology to companies outside the grocery sector. Late last year it announced a deal with Canada's McKesson, a large pharmaceuticals distributor. ""Think about which industries have the need to move things around efficiently inside of warehouse... it's endless,"" says Mr Matthews.  More technology of business So where will the automation of warehouses end? Are we heading to human-free warehouses that can run 24 hours a day? Not so fast, says Sarah Bolton, who specialises in commercial real estate at law firm Taylor Wessing. ""It's almost prohibitively expensive, we're talking hundreds of millions of pounds to fully automate a warehouse,"" she points out.  ""So you're really only talking about the big tenants in the really big warehouses looking at full automation, just because you have to have that size to make it anywhere near financially viable."" She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into. Reliable electricity connections are also vital. ""You're reliant on new build, and there's a massive undersupply of new build warehouse stock in the UK at the minute,"" says Ms Bolton.  AutoStore is tackling some of those challenges. It has a company called Pio which is developing automation for smaller businesses. It uses much of the same technology that AutoStore supplies to big firms - robots buzzing around on a storage grid where goods are stacked vertically. However the upfront costs of Pio's system are lower, with the cost related to the volume of goods the system handles. The software is simpler and designed to integrate easily with common e-commerce systems like Shopify. ""It's a complete offering... where the upfront cost is very reduced. So it's quite affordable for these companies to get access to automation and start to get the benefits out of it. And since the technology is very flexible and scalable, you can continue to basically increase volume by adding more robots rather than more storage capacity,"" says Carlos Fernández, chief product officer at AutoStore. At the moment 10 clients are running Pio's automation system with another five customers signed up. Mr Fernández sees huge growth potential.  ""Over the coming years, there's going to be a journey of making the technology simpler and more affordable. It won't require you to be a large corporation to run complex automation projects, and you won't need to invest big amounts of capital also to start getting the benefits."" ",BBC,23/04/2024,"[""Shoppers probably don't think much about what happens next when they place an online grocery order."", 'But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers.', ""At an Ocado warehouse just outside Luton, I'm in the middle of such a dance."", 'As far as I can see, hundreds of robots whizz around a grid, fetching items for online orders.', 'They move with dizzying speed and precision.', 'In the early days of online shopping, when you placed an order, humans would dash around a warehouse or a store collecting your items.', 'But for years now, Ocado has been using robots to collect and distribute products, bringing them to staff, who pack them into boxes for delivery.', 'And Ocado is not the only firm investing in such automation.', ""In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway's AutoStore."", 'In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic.', 'Back in Luton, Ocado has taken its automation process to a higher level.', ""The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer's shop."", 'Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end.', 'It might seem like a trivial addition, but training a robot to recognise an item, grab it successfully and move it, is surprisingly difficult.', 'At Ocado around 100 engineers have spent years training the artificial intelligence (AI) to take on that task.', 'James Matthews, chief executive of Ocado Technology explains the AI has to interpret the information coming from its cameras. ""', 'What is an object?', 'Where are the edges of that object?', 'How would one grasp it?""', 'In addition the AI has to work out how to move the arm. ""', 'How do I pick that up and accelerate in a way without flinging it across the room?', 'How do I place it in a bag?""', 'he says.', ""The Luton warehouse has 44 robotic arms, which at the moment account for 15% of the products that flow through the facility, that's about 400,000 items a week."", 'The rest are handled by staff at picking stations.', 'The staff handle items that robots are not ready for yet, like wine bottles which are heavy and have curved surfaces, making them difficult to grasp.', 'But the system is ramping up.', 'The company is developing different attachments for the robot arms that will allow them to handle a wider variety of items. ""', 'We\'re just playing it carefully and ramping slowly over time,"" says Mr Matthews. ""', 'It\'s a deliberate constraint on our behalf, so we continue providing good service to people, and not crushed custard creams in every order, or worse, putting stuff on the track that goes under the wheels of one of the bots and creates an incident.""', 'In two or three years Ocado expects the robots will account for 70% of the products.', 'This inevitably means fewer human staff, but the Luton warehouse still has 1,400 staff, and many of those will still be needed in the future. ""', 'There will be some sort of curve that tends towards fewer people per building.', ""But it's not as clear cut as, 'hey, look, we're on the verge of just not needing people'."", 'We\'re a very long way from that,"" Mr Matthews says.', 'Ocado is hoping to sell its automation technology to companies outside the grocery sector.', 'Late last year it announced a deal with Canada\'s McKesson, a large pharmaceuticals distributor. ""', 'Think about which industries have the need to move things around efficiently inside of warehouse... it\'s endless,"" says Mr Matthews.', 'More technology of business So where will the automation of warehouses end?', 'Are we heading to human-free warehouses that can run 24 hours a day?', 'Not so fast, says Sarah Bolton, who specialises in commercial real estate at law firm Taylor Wessing. ""', 'It\'s almost prohibitively expensive, we\'re talking hundreds of millions of pounds to fully automate a warehouse,"" she points out. ""', 'So you\'re really only talking about the big tenants in the really big warehouses looking at full automation, just because you have to have that size to make it anywhere near financially viable.""', ""She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into."", 'Reliable electricity connections are also vital. ""', 'You\'re reliant on new build, and there\'s a massive undersupply of new build warehouse stock in the UK at the minute,"" says Ms Bolton.', 'AutoStore is tackling some of those challenges.', 'It has a company called Pio which is developing automation for smaller businesses.', 'It uses much of the same technology that AutoStore supplies to big firms - robots buzzing around on a storage grid where goods are stacked vertically.', ""However the upfront costs of Pio's system are lower, with the cost related to the volume of goods the system handles."", 'The software is simpler and designed to integrate easily with common e-commerce systems like Shopify. ""', ""It's a complete offering... where the upfront cost is very reduced."", ""So it's quite affordable for these companies to get access to automation and start to get the benefits out of it."", 'And since the technology is very flexible and scalable, you can continue to basically increase volume by adding more robots rather than more storage capacity,"" says Carlos Fernández, chief product officer at AutoStore.', ""At the moment 10 clients are running Pio's automation system with another five customers signed up."", 'Mr Fernández sees huge growth potential. ""', ""Over the coming years, there's going to be a journey of making the technology simpler and more affordable."", 'It won\'t require you to be a large corporation to run complex automation projects, and you won\'t need to invest big amounts of capital also to start getting the benefits.""']",0.1068244655536913,"But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers.","She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into.",0.649489245631478,So it's quite affordable for these companies to get access to automation and start to get the benefits out of it.,There will be some sort of curve that tends towards fewer people per building.,2024-04-25
-'We need a miracle' - Israeli and Palestinian economies battered by war,https://www.bbc.co.uk/news/world-middle-east-68884729,2024-04-24T00:35:26.000Z,"More than six months into the devastating Gaza war, its impact on the Israeli and Palestinian economies has been huge.  Nearly all economic activity in Gaza has been wiped out and the World Bank says the war has also hit Palestinian businesses in the occupied West Bank hard.  As Israelis mark the Jewish festival of Passover, the much-vaunted ""start-up nation"" is also trying to remain an attractive proposition for investors. The cobbled streets of Jerusalem's Old City are eerily quiet. There are none of the long queues to visit the holy sites - at least those that remain open.  Just after Easter and Ramadan and right in the middle of Passover, all four quarters of the Old City should be teeming with visitors. Just 68,000 tourists arrived in Israel in February, according to the country's Central Bureau of Statistics. That's down massively from 319,100 visitors in the same month last year.  While it may be surprising that any visitors pass through Jerusalem at a time of such tension, many of those who do are religious pilgrims from across the globe who will have paid for their journeys well in advance. Zak's Jerusalem Gifts was one of only a handful of stores on Christian Quarter Street in the Old City, which is situated in occupied East Jerusalem, to have bothered opening up on the day I passed by. ""We're only really doing online sales,"" says Zak, whose business specialises in antiques and biblical coins.  ""There are no actual people. The last week, after the Iran-Israel escalation, business dropped down again. So we are just hoping that after the holidays some big major miracle will happen."" It's not just in Jerusalem's Old City that they need a miracle. Some 250km (150 miles) further north, on Israel's volatile border with Lebanon, almost daily exchanges of fire with Hezbollah since the war in Gaza began have forced the Israeli army to close much of the area and 80,000 residents have been evacuated further south. A similar number of Lebanese have been forced to leave their homes on the other side of the border. Agriculture in this part of Israel is another economic sector that has been hit hard. Ofer ""Poshko"" Moskovitz isn't really permitted to enter his avocado orchard in the kibbutz of Misgav Am because of its proximity to the border. But he occasionally ventures in anyway, walking wistfully among the trees, to gaze at all of his ""money falling on the ground"".  ""I must go to pick in the orchard because it's very important for the next season,"" Poshko says. ""If I don't pick this fruit, the next season will be a very poor one."" He says he is losing a lot of money because he can't pick the avocados - around 2m shekels ($530,000; £430,000) this season, he says. Although they provide a living for thousands of people, agriculture and tourism account for relatively small parts of both the Israeli or Palestinian economies. So what does the wider picture show? Last week ratings agency S&P Global cut Israel's long-term ratings (to A-plus from AA-minus) reflecting a loss of market confidence after increased tensions between Israel and Iran and concerns the war in Gaza could spread across the wider Middle East. That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023. Many Israelis though say the country's renowned high-tech and start-up sector is proving to be more ""war-proof"" than expected. The coastal city of Tel Aviv is only 54km from Jerusalem. More pertinently, perhaps, it's less than 70km from Gaza.  At times, you'd be forgiven for forgetting - however momentarily - that Israel is embroiled in its longest war since independence in 1948. Families make the most of the early summer sun to play in the surf, couples eat lunch in the many open-air beach restaurants and young people strum away on guitars on the green spaces between the coastal road and the Mediterranean. The backdrop is a city that is economically active and physically growing fast. ""They joke that Israel's national bird should be the crane - the mechanical kind!"" says Jon Medved, founder and CEO of the online global venture investment platform Our Crowd. An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups…  We're having one of the best years we've ever had. People who are engaged with Israel are not disengaging."" Medved insists that, despite everything, Israel is still the ""start-up nation"" and a good option for would-be investors. ""There are 400 multinational corporations that have operations here. Not a single multinational, has closed its operation in Israel since the war."" To an extent, Elise Brezis agrees with Mr Medved's assessment. The economics professor at Bar-Ilan University near Tel Aviv acknowledges that despite the last quarter's GDP figures, Israel's economy remains ""remarkably resilient"". ""When it comes to tourism, yes, we have a reduction in exports. But we had also reduction in imports,"" says Brezis. ""So in fact, the balance of payments is still okay. That's what is so problematic is that from the data, you don't really feel that there is such a terrible situation in Israel."" But Prof Brezis detects a wider malaise in Israeli society that isn't reflected in economic data. ""Israel's economy might be robust, but Israeli society is not robust right now. It's like looking at a person and saying, 'Wow, his salary is high,' [...] but in fact he's depressed. And he's thinking, 'What will I do with my life?' - That's exactly Israel today."" If the outlook in Israel is mixed, then across the separation barrier that divides Jerusalem and Bethlehem the view from the Palestinian side is overwhelmingly bleak. Tourism is especially important to the economies of towns like Bethlehem in the occupied West Bank.  While some people are still heading to Jerusalem's sites, in the place where Christians believe Jesus was born tourism ""stopped immediately"" after 7 October last year, says Dr Samir Hazboun, chairman of Bethlehem's Chamber of Commerce and Industry. That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war. There's huge dependence and reliance on Israel's economy here - but Israel virtually closed off the landlocked West Bank after 7 October and this has had a disastrous impact on the life and work of many Palestinians, Dr Hazboun says. ""The Bethlehem governorate right now is closed,"" he says. ""There are around 43 gates [in the Israeli security barrier] but only three are open. So with between 16,000 and 20,000 Palestinian workers from our area working in Israel, immediately, they lost their income."" The chamber of commerce says that the revenues from local Palestinians working in Israel amounted to 22bn shekels ($5.8bn) annually. ""You can imagine the impact on the economy,"" says Dr Hazboun, who is particularly concerned for the prospects for younger Palestinians the longer the war continues and more the Israeli and West Bank economies decouple. ""The younger generation now are jobless, they are not working. Many of them are talented people,"" he laments. ""In June I'm expecting around 30,000 new graduates from the Palestinian universities. What they will do?  In Gaza itself the economy has been completely destroyed by six months of war. Israel's relentless aerial bombardment and ground operations have killed 34,183 people, mostly women and children, according to the Hamas-run health ministry. Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal. ",BBC,24/04/2024,"['More than six months into the devastating Gaza war, its impact on the Israeli and Palestinian economies has been huge.', 'Nearly all economic activity in Gaza has been wiped out and the World Bank says the war has also hit Palestinian businesses in the occupied West Bank hard.', 'As Israelis mark the Jewish festival of Passover, the much-vaunted ""start-up nation"" is also trying to remain an attractive proposition for investors.', ""The cobbled streets of Jerusalem's Old City are eerily quiet."", 'There are none of the long queues to visit the holy sites - at least those that remain open.', 'Just after Easter and Ramadan and right in the middle of Passover, all four quarters of the Old City should be teeming with visitors.', ""Just 68,000 tourists arrived in Israel in February, according to the country's Central Bureau of Statistics."", ""That's down massively from 319,100 visitors in the same month last year."", 'While it may be surprising that any visitors pass through Jerusalem at a time of such tension, many of those who do are religious pilgrims from across the globe who will have paid for their journeys well in advance.', 'Zak\'s Jerusalem Gifts was one of only a handful of stores on Christian Quarter Street in the Old City, which is situated in occupied East Jerusalem, to have bothered opening up on the day I passed by. ""', 'We\'re only really doing online sales,"" says Zak, whose business specialises in antiques and biblical coins. ""', 'There are no actual people.', 'The last week, after the Iran-Israel escalation, business dropped down again.', 'So we are just hoping that after the holidays some big major miracle will happen.""', ""It's not just in Jerusalem's Old City that they need a miracle."", ""Some 250km (150 miles) further north, on Israel's volatile border with Lebanon, almost daily exchanges of fire with Hezbollah since the war in Gaza began have forced the Israeli army to close much of the area and 80,000 residents have been evacuated further south."", 'A similar number of Lebanese have been forced to leave their homes on the other side of the border.', 'Agriculture in this part of Israel is another economic sector that has been hit hard.', 'Ofer ""Poshko"" Moskovitz isn\'t really permitted to enter his avocado orchard in the kibbutz of Misgav Am because of its proximity to the border.', 'But he occasionally ventures in anyway, walking wistfully among the trees, to gaze at all of his ""money falling on the ground"". ""', 'I must go to pick in the orchard because it\'s very important for the next season,"" Poshko says. ""', 'If I don\'t pick this fruit, the next season will be a very poor one.""', ""He says he is losing a lot of money because he can't pick the avocados - around 2m shekels ($530,000; £430,000) this season, he says."", 'Although they provide a living for thousands of people, agriculture and tourism account for relatively small parts of both the Israeli or Palestinian economies.', 'So what does the wider picture show?', ""Last week ratings agency S&P Global cut Israel's long-term ratings (to A-plus from AA-minus) reflecting a loss of market confidence after increased tensions between Israel and Iran and concerns the war in Gaza could spread across the wider Middle East."", 'That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023.', 'Many Israelis though say the country\'s renowned high-tech and start-up sector is proving to be more ""war-proof"" than expected.', 'The coastal city of Tel Aviv is only 54km from Jerusalem.', ""More pertinently, perhaps, it's less than 70km from Gaza."", ""At times, you'd be forgiven for forgetting - however momentarily - that Israel is embroiled in its longest war since independence in 1948."", 'Families make the most of the early summer sun to play in the surf, couples eat lunch in the many open-air beach restaurants and young people strum away on guitars on the green spaces between the coastal road and the Mediterranean.', 'The backdrop is a city that is economically active and physically growing fast. ""', 'They joke that Israel\'s national bird should be the crane - the mechanical kind!""', 'says Jon Medved, founder and CEO of the online global venture investment platform Our Crowd.', 'An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups… We\'re having one of the best years we\'ve ever had.', 'People who are engaged with Israel are not disengaging.""', 'Medved insists that, despite everything, Israel is still the ""start-up nation"" and a good option for would-be investors. ""', 'There are 400 multinational corporations that have operations here.', 'Not a single multinational, has closed its operation in Israel since the war.""', ""To an extent, Elise Brezis agrees with Mr Medved's assessment."", 'The economics professor at Bar-Ilan University near Tel Aviv acknowledges that despite the last quarter\'s GDP figures, Israel\'s economy remains ""remarkably resilient"". ""', 'When it comes to tourism, yes, we have a reduction in exports.', 'But we had also reduction in imports,"" says Brezis. ""', 'So in fact, the balance of payments is still okay.', 'That\'s what is so problematic is that from the data, you don\'t really feel that there is such a terrible situation in Israel.""', 'But Prof Brezis detects a wider malaise in Israeli society that isn\'t reflected in economic data. ""', ""Israel's economy might be robust, but Israeli society is not robust right now."", ""It's like looking at a person and saying, 'Wow, his salary is high,' [...] but in fact he's depressed."", ""And he's thinking, 'What will I do with my life?' -"", 'That\'s exactly Israel today.""', 'If the outlook in Israel is mixed, then across the separation barrier that divides Jerusalem and Bethlehem the view from the Palestinian side is overwhelmingly bleak.', 'Tourism is especially important to the economies of towns like Bethlehem in the occupied West Bank.', 'While some people are still heading to Jerusalem\'s sites, in the place where Christians believe Jesus was born tourism ""stopped immediately"" after 7 October last year, says Dr Samir Hazboun, chairman of Bethlehem\'s Chamber of Commerce and Industry.', ""That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war."", 'There\'s huge dependence and reliance on Israel\'s economy here - but Israel virtually closed off the landlocked West Bank after 7 October and this has had a disastrous impact on the life and work of many Palestinians, Dr Hazboun says. ""', 'The Bethlehem governorate right now is closed,"" he says. ""', 'There are around 43 gates [in the Israeli security barrier] but only three are open.', 'So with between 16,000 and 20,000 Palestinian workers from our area working in Israel, immediately, they lost their income.""', 'The chamber of commerce says that the revenues from local Palestinians working in Israel amounted to 22bn shekels ($5.8bn) annually. ""', 'You can imagine the impact on the economy,"" says Dr Hazboun, who is particularly concerned for the prospects for younger Palestinians the longer the war continues and more the Israeli and West Bank economies decouple. ""', 'The younger generation now are jobless, they are not working.', 'Many of them are talented people,"" he laments. ""', ""In June I'm expecting around 30,000 new graduates from the Palestinian universities."", 'What they will do?', 'In Gaza itself the economy has been completely destroyed by six months of war.', ""Israel's relentless aerial bombardment and ground operations have killed 34,183 people, mostly women and children, according to the Hamas-run health ministry."", 'Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal.']",-0.0504824617095796,"Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal.","That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war.",-0.2119207361648822,"An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups… We're having one of the best years we've ever had.",That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023.,2024-04-25
-Coach: US sues to block its parent merger with Michael Kors owner,https://www.bbc.co.uk/news/articles/cglv3xgmkgyo,2024-04-23T01:41:31.034Z,"The US competition watchdog has sued to block fashion accessory giant Tapestry's $8.5bn (£6.9bn) takeover of rival Capri. Tapestry owns handbag makers including Coach and Kate Spade, while Capri's brands include Michael Kors. The US Federal Trade Commission (FTC) said if allowed, ""the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands"". In response Tapestry said ""the FTC fundamentally misunderstands both the marketplace and the way in which consumers shop"". Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits. Coach and Kate Spade are known for what their parent firm calls ""accessible luxury"" handbags - quality leather and craftsmanship products at affordable prices. Tapestry offered to buy Capri in August, hoping to create a US fashion giant that could compete against bigger European rivals such as Chanel, Hermes and Louis Vuitton parent LVMH. The FTC requested more information on the deal in November. Announcing its decision to take legal action, the FTC said the deal would give Tapestry a dominant share of the market. Tapestry said in a statement that ""in bringing this case, the FTC has chosen to ignore the reality of today’s dynamic and expanding $200 billion global luxury industry"". Capri, which also owns Versace and Jimmy Choo, said ""this transaction will not limit, reduce, or constrain competition"" as the two firms ""operate in the fiercely competitive and highly fragmented global luxury industry"". It is unusual for the US regulator to try to block a high-end fashion merger. But in December, authorities issued new merger guidelines to encourage fair, open and competitive markets. By using a new tactic under the guidelines, the FTC has argued that the merger of Tapestry and Capri would directly affect hourly workers who may lose out on higher wages due to reduced competition for employees. Earlier this month, the companies received regulatory clearance for the deal from the European Union and Japan. The two companies need to close the deal by 10 August. ",BBC,23/04/2024,"[""The US competition watchdog has sued to block fashion accessory giant Tapestry's $8.5bn (£6.9bn) takeover of rival Capri."", ""Tapestry owns handbag makers including Coach and Kate Spade, while Capri's brands include Michael Kors."", 'The US Federal Trade Commission (FTC) said if allowed, ""the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands"".', 'In response Tapestry said ""the FTC fundamentally misunderstands both the marketplace and the way in which consumers shop"".', 'Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits.', 'Coach and Kate Spade are known for what their parent firm calls ""accessible luxury"" handbags - quality leather and craftsmanship products at affordable prices.', 'Tapestry offered to buy Capri in August, hoping to create a US fashion giant that could compete against bigger European rivals such as Chanel, Hermes and Louis Vuitton parent LVMH.', 'The FTC requested more information on the deal in November.', 'Announcing its decision to take legal action, the FTC said the deal would give Tapestry a dominant share of the market.', 'Tapestry said in a statement that ""in bringing this case, the FTC has chosen to ignore the reality of today’s dynamic and expanding $200 billion global luxury industry"".', 'Capri, which also owns Versace and Jimmy Choo, said ""this transaction will not limit, reduce, or constrain competition"" as the two firms ""operate in the fiercely competitive and highly fragmented global luxury industry"".', 'It is unusual for the US regulator to try to block a high-end fashion merger.', 'But in December, authorities issued new merger guidelines to encourage fair, open and competitive markets.', 'By using a new tactic under the guidelines, the FTC has argued that the merger of Tapestry and Capri would directly affect hourly workers who may lose out on higher wages due to reduced competition for employees.', 'Earlier this month, the companies received regulatory clearance for the deal from the European Union and Japan.', 'The two companies need to close the deal by 10 August.']",0.0165597813779234,"But in December, authorities issued new merger guidelines to encourage fair, open and competitive markets.","By using a new tactic under the guidelines, the FTC has argued that the merger of Tapestry and Capri would directly affect hourly workers who may lose out on higher wages due to reduced competition for employees.",0.0556884109973907,"Earlier this month, the companies received regulatory clearance for the deal from the European Union and Japan.","Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits.",2024-04-25
-Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards,"
-  Updated
-        12:10 PM EST, Wed January 10, 2024
-    ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.
-    
-            When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.
-    
-            If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.
-    
-            You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.
-    
-            Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.
-    
-            Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.
-    
-            As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything — 1% when you buy, 1% when you pay. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.
-    
-            Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees.
-    
-            By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.
-    
-            Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary.
-    
-            Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.
-    
-            If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.
-    
-            Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.
-    
-            It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year.
-    
-            Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.
-    
-            Here’s a look at your Citi ThankYou travel redemption options and how they work.
-    
-            Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts, international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal.
-    
-            Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.
-    
-            If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.
-    
-            By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.
-    
-            Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.
-    
-            Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following:
-    
-            Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option.
-    
-            Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.
-    
-            Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.
-    
-            For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points:
-    
-            Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.
-    
-            Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.
-    
-            Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.
-    
-            Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.
-    
-            Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available.
-    
-            Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
-    
-            Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything —1% when you buy, 1% when you pay.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following:  Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points:  Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.4187524857201869,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.",0.8707016060749689,"As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.",That’s significantly less than the value you’ll get from transfer partner redemptions.,2024-04-25
-US economic growth slows but inflation grows,https://www.bbc.co.uk/news/business-68898432,2024-04-25T14:09:40.000Z,"The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.  Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023. Meanwhile, inflation, which measures the pace of price rises, has increased. At the start of the year, experts had been forecasting a series of interest rate cuts in the US. However, inflation is yet to fall back to the Federal Reserve's 2% target, and on Thursday, figures from the US Department of Commerce showed that inflation increased by 3.4% in the first three months of 2024. This is compared to an increase of 1.8% in the final three months of 2023. Raising interest rates makes borrowing - for things such as loans and mortgages - more expensive and theoretically is meant to encourage people to spend less. The idea is that this helps to bring inflation down by dampening demand. However, US inflation has not fallen back as quickly as expected. At the same time, economic growth - measured as gross domestic product (GDP) - has slowed from 3.4% growth in the final three months of last year to 1.6%. Economists had been expected it to decelerate but only to 2.4%. Olu Sonola, head of US economic research at Fitch, the credit rating agency, said: ""The hot inflation print is the real story in this report. ""If growth continues to slowly decelerate, but inflation strongly takes off again in the wrong direction, the expectation of a Fed interest rate cut in 2024 is starting to look increasingly more out of reach."" The key US interest rate is between 5.25% to 5.5% - the highest level in more than 20 years. Stuart Cole, chief macro economist at Equiti Capital in London, said the US Federal Reserve, which sets interest rates, was ""now finding itself caught between a rock and a hard place"". ""The growth numbers suggest monetary policy has worked its magic and the Fed's foot on the monetary brake can be eased somewhat,"" he said. ""But the inflation figures suggest otherwise, and potentially even point to the need for a further tightening."" The 1.6% growth figure is the first estimate of GDP. A second reading, ""based on more complete source data"", will be released on 30 May. Nevertheless, the economy is a key issue as the US heads towards an election later this year. ",BBC,25/04/2024,"['The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.', 'Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023.', 'Meanwhile, inflation, which measures the pace of price rises, has increased.', 'At the start of the year, experts had been forecasting a series of interest rate cuts in the US.', ""However, inflation is yet to fall back to the Federal Reserve's 2% target, and on Thursday, figures from the US Department of Commerce showed that inflation increased by 3.4% in the first three months of 2024."", 'This is compared to an increase of 1.8% in the final three months of 2023.', 'Raising interest rates makes borrowing - for things such as loans and mortgages - more expensive and theoretically is meant to encourage people to spend less.', 'The idea is that this helps to bring inflation down by dampening demand.', 'However, US inflation has not fallen back as quickly as expected.', 'At the same time, economic growth - measured as gross domestic product (GDP) - has slowed from 3.4% growth in the final three months of last year to 1.6%.', 'Economists had been expected it to decelerate but only to 2.4%.', 'Olu Sonola, head of US economic research at Fitch, the credit rating agency, said: ""The hot inflation print is the real story in this report. ""', 'If growth continues to slowly decelerate, but inflation strongly takes off again in the wrong direction, the expectation of a Fed interest rate cut in 2024 is starting to look increasingly more out of reach.""', 'The key US interest rate is between 5.25% to 5.5% - the highest level in more than 20 years.', 'Stuart Cole, chief macro economist at Equiti Capital in London, said the US Federal Reserve, which sets interest rates, was ""now finding itself caught between a rock and a hard place"". ""', 'The growth numbers suggest monetary policy has worked its magic and the Fed\'s foot on the monetary brake can be eased somewhat,"" he said. ""', 'But the inflation figures suggest otherwise, and potentially even point to the need for a further tightening.""', 'The 1.6% growth figure is the first estimate of GDP.', 'A second reading, ""based on more complete source data"", will be released on 30 May.', 'Nevertheless, the economy is a key issue as the US heads towards an election later this year.']",0.2672875493103288,Raising interest rates makes borrowing - for things such as loans and mortgages - more expensive and theoretically is meant to encourage people to spend less.,"The US economy grew by less than forecast in the first three months of this year but inflation gathered pace, which could delay an interest rate cut.",0.1737287600835164,"Official figures revealed the economy expanded at an annualised rate of 1.6%, far below expectations and the growth seen in the final months of 2023.","At the same time, economic growth - measured as gross domestic product (GDP) - has slowed from 3.4% growth in the final three months of last year to 1.6%.",2024-04-25
-Bubble tea: China chain Chabaidao plunges in Hong Kong debut,https://www.bbc.co.uk/news/articles/cv208e2d141o,2024-04-23T05:47:25.747Z,"Shares in Chinese bubble tea chain Sichuan Baicha Baidao, which is also known as Chabaidao, have fallen by more than 26% in their first day of trading on the Hong Kong Stock Exchange. Chabaidao's market debut was the Asian financial hub's largest initial public offering (IPO) so far this year. The poor performance underscores the difficulties the city is facing in attracting investment. Chabaidao, which means 100 varieties of tea, is China’s third-biggest fresh tea drinks chain by retail sales. The Chengdu-based company raised about $330m (£267m) in the IPO even as the offering was met with tepid interest from investors. The firm said it plans to use about half the money to upgrade its operations and strengthen its supply chain. Rival bubble tea firms Mixue, Guming and Auntea Jenny have also said they are planning to sell shares in Hong Kong. However, Chabaidao's weak debut highlights the challenges faced by authorities as they attempt to revive confidence in the city's stock market. Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China. Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades. The city's benchmark Hang Seng share index has lost over 16% of its value in the last year. Last week, China’s securities regulator said it will support share offerings in Hong Kong. The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub. ",BBC,23/04/2024,"['Shares in Chinese bubble tea chain Sichuan Baicha Baidao, which is also known as Chabaidao, have fallen by more than 26% in their first day of trading on the Hong Kong Stock Exchange.', ""Chabaidao's market debut was the Asian financial hub's largest initial public offering (IPO) so far this year."", 'The poor performance underscores the difficulties the city is facing in attracting investment.', 'Chabaidao, which means 100 varieties of tea, is China’s third-biggest fresh tea drinks chain by retail sales.', 'The Chengdu-based company raised about $330m (£267m) in the IPO even as the offering was met with tepid interest from investors.', 'The firm said it plans to use about half the money to upgrade its operations and strengthen its supply chain.', 'Rival bubble tea firms Mixue, Guming and Auntea Jenny have also said they are planning to sell shares in Hong Kong.', ""However, Chabaidao's weak debut highlights the challenges faced by authorities as they attempt to revive confidence in the city's stock market."", ""Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China."", 'Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.', ""The city's benchmark Hang Seng share index has lost over 16% of its value in the last year."", 'Last week, China’s securities regulator said it will support share offerings in Hong Kong.', ""The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub.""]",0.2742914355646294,Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China.,"Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.",-0.5467110541131761,The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub.,"Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.",2024-04-25
-California wants to crack down on Clear at the airport,https://edition.cnn.com/2024/04/24/business/clear-california-airports/index.html,"
-  Updated
-        11:09 PM EDT, Wed April 24, 2024
-    ","Clear is a service that lets people skip the security line at airports with nothing but a biometric scan and $189. Some California lawmakers want to make changes to it in the state, saying it separates travelers into haves and have-nots.
-    
-            California lawmakers voted 8-4 to move a bill out of the Senate Transportation Committee that would create a moratorium on Clear’s expansion at state airports. The bill has to be approved by the full California Senate and Assembly and signed by Gov. Gavin Newsom to become law.
-    
-            Clear, a publicly-traded security company, lets members jump the line at airports, sports, concerts and other venues. For $189 a year, Clear members can verify their identity at an airport kiosk using their biometric data, such as a face scan or fingerprint, without having to show their ID to a Transportation Security Administration agent. Once a traveler’s identity has been verified, the traveler is escorted by a Clear employee right to the front of a TSA security line.
-    
-            Line-skipping has created frustration and a feeling of unfairness among some other travelers who don’t have access to or can’t afford the price of the Clear membership. (The TSA’s PreCheck program, which is run by the government agency, costs $78 over five years.)
-    
-            “When it comes to making one’s way through airport security, the quality of that experience shouldn’t be contingent on a traveler’s income or willingness to pay,” Sen. Josh Newman, a Democrat who introduced the bill, said in a statement to CNN.
-    
-            Travelers who are not enrolled in Clear are “subject to the indignity of being shunted aside to make way for those who do,” Newman said. “This is inequitable, especially in light of the fact that it’s their tax dollars which fund airport security services in the first place.”
-    
-            Clear offers expedited service at nine airports in California. About 10% of California travelers are Clear members, according to a legislative analysis of the bill.
-    
-            But California lawmakers don’t want to end the program entirely. It’s more about the pain of watching someone else skip a line.
-    
-            The bill, which appears to be the first in the United States, won’t block Clear at California airports, Newman said. Instead, it seeks to have Clear and other third-party screening services operate separate lines for members.
-    
-            This would mean general passengers won’t have anyone cutting in front of them anymore, and Clear passengers can still fly through their dedicated security lane, he said.
-    
-            It also would prohibit airports from entering into new contracts with private companies like Clear if they use existing TSA security lines and screeners.
-    
-            The bill has support from the Association of Flight Attendants and a California branch of the American Federation of Government Employees representing TSA agents.
-    
-            But Clear, and major airlines like Delta, California airports, and business groups like the California Chamber of Commerce oppose the bill.
-    
-            Clear did not comment directly on the bill to CNN. But a Clear spokesperson said the company has created hundreds of jobs in the state, serves nearly 1 million California residents and contributed more than $13 million in revenue to state airports. Airports earn fees from leasing space to Clear.
-    
-            “We are always working with our airline and airport partners as well as local, state, and federal governments to ensure all travelers have a safer, easier checkpoint experience,” the spokesperson said.
-    
-            A legislative analysis of the bill conducted by the California Senate Transportation Committee said that if airports were to lose the revenue from Clear, they would make it up from other customers, such as car rental companies, concessionaires or airlines.
-    
-            It may also be difficult for airports or Clear to obtain dedicated TSA security lines and screeners, the analysis found, since TSA is a federal agency and is beyond the authority of the state. Increasing TSA staffing requires congressional approval.
-    
-            But Clear “may have some ability to persuade Congress on this,” the analysis found, by pushing the company to advocate for additional funding for TSA lanes and agents.",CNN,24/04/2024,"['Clear is a service that lets people skip the security line at airports with nothing but a biometric scan and $189.', 'Some California lawmakers want to make changes to it in the state, saying it separates travelers into haves and have-nots.', 'California lawmakers voted 8-4 to move a bill out of the Senate Transportation Committee that would create a moratorium on Clear’s expansion at state airports.', 'The bill has to be approved by the full California Senate and Assembly and signed by Gov. Gavin Newsom to become law.', 'Clear, a publicly-traded security company, lets members jump the line at airports, sports, concerts and other venues.', 'For $189 a year, Clear members can verify their identity at an airport kiosk using their biometric data, such as a face scan or fingerprint, without having to show their ID to a Transportation Security Administration agent.', 'Once a traveler’s identity has been verified, the traveler is escorted by a Clear employee right to the front of a TSA security line.', 'Line-skipping has created frustration and a feeling of unfairness among some other travelers who don’t have access to or can’t afford the price of the Clear membership. (', 'The TSA’s PreCheck program, which is run by the government agency, costs $78 over five years.)', '“When it comes to making one’s way through airport security, the quality of that experience shouldn’t be contingent on a traveler’s income or willingness to pay,” Sen. Josh Newman, a Democrat who introduced the bill, said in a statement to CNN.', 'Travelers who are not enrolled in Clear are “subject to the indignity of being shunted aside to make way for those who do,” Newman said. “', 'This is inequitable, especially in light of the fact that it’s their tax dollars which fund airport security services in the first place.”', 'Clear offers expedited service at nine airports in California.', 'About 10% of California travelers are Clear members, according to a legislative analysis of the bill.', 'But California lawmakers don’t want to end the program entirely.', 'It’s more about the pain of watching someone else skip a line.', 'The bill, which appears to be the first in the United States, won’t block Clear at California airports, Newman said.', 'Instead, it seeks to have Clear and other third-party screening services operate separate lines for members.', 'This would mean general passengers won’t have anyone cutting in front of them anymore, and Clear passengers can still fly through their dedicated security lane, he said.', 'It also would prohibit airports from entering into new contracts with private companies like Clear if they use existing TSA security lines and screeners.', 'The bill has support from the Association of Flight Attendants and a California branch of the American Federation of Government Employees representing TSA agents.', 'But Clear, and major airlines like Delta, California airports, and business groups like the California Chamber of Commerce oppose the bill.', 'Clear did not comment directly on the bill to CNN.', 'But a Clear spokesperson said the company has created hundreds of jobs in the state, serves nearly 1 million California residents and contributed more than $13 million in revenue to state airports.', 'Airports earn fees from leasing space to Clear.', '“We are always working with our airline and airport partners as well as local, state, and federal governments to ensure all travelers have a safer, easier checkpoint experience,” the spokesperson said.', 'A legislative analysis of the bill conducted by the California Senate Transportation Committee said that if airports were to lose the revenue from Clear, they would make it up from other customers, such as car rental companies, concessionaires or airlines.', 'It may also be difficult for airports or Clear to obtain dedicated TSA security lines and screeners, the analysis found, since TSA is a federal agency and is beyond the authority of the state.', 'Increasing TSA staffing requires congressional approval.', 'But Clear “may have some ability to persuade Congress on this,” the analysis found, by pushing the company to advocate for additional funding for TSA lanes and agents.']",0.413489946903226,"But Clear, and major airlines like Delta, California airports, and business groups like the California Chamber of Commerce oppose the bill.",It’s more about the pain of watching someone else skip a line.,-0.1250895091465541,"But a Clear spokesperson said the company has created hundreds of jobs in the state, serves nearly 1 million California residents and contributed more than $13 million in revenue to state airports.",Line-skipping has created frustration and a feeling of unfairness among some other travelers who don’t have access to or can’t afford the price of the Clear membership. (,2024-04-25
-3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html,"
-  Published
-        6:30 AM EDT, Tue March 26, 2024
-    ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.
-    
-            That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.
-    
-            But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.
-    
-            The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”
-    
-            But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users:
-    
-            If found liable, the company could be forced to change a number of things.
-    
-            One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.
-    
-             According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.
-    
-            “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.”
-    
-            At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway.
-    
-            The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.
-    
-            Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.
-    
-            The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.
-    
-            In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.
-    
-            The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same.
-    
-            Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.
-    
-            Chatterjee said making this change would have both positives and negatives.
-    
-            “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.
-    
-            The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.
-    
-            The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.
-    
-            David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.
-    
-            “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.
-    
-            Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.
-    
-            “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.
-    
-            But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users:  If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-04-25
-Your ultimate guide to the American Express Membership Rewards program,https://edition.cnn.com/cnn-underscored/travel/american-express-membership-rewards-guide,"
-  Updated
-        1:03 PM EDT, Mon April 1, 2024
-    ","American Express Membership Rewards® are among the most valuable travel rewards points out there. That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.
-    
-            In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.
-    
-            Having Membership Rewards points gives you options, and that’s always a good thing. If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.
-    
-            You can earn Membership Rewards points in various ways. Some require little effort, while others involve a heavier lift. It’s a good idea to take advantage of all the options out there in order to maximize your earnings. Here’s a look at how to earn Membership Rewards most efficiently.
-    
-            The primary way to earn Amex points is through credit cards that earn Membership Rewards. Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.
-    
-            These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card. With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance. Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.
-    
-            Keep in mind, too, that many of these cards carry an annual fee:
-    
-            All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.
-    
-            Similarly, American Express offers a suite of business credit cards.
-    
-            All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.
-    
-            Keep in mind that several of these cards also carry an annual fee:
-    
-            Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses. If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).
-    
-            If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel. Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.
-    
-            When applying for American Express cards, be sure to take note of the application rules. For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days. Before applying for a credit card, it’s important to do your research.
-    
-            As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer. One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.
-    
-             Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings. That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.
-    
-            Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.
-    
-            If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.
-    
-            American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card. You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.
-    
-            To find out your card’s current referral bonus, head over to the Amex referral site. You’ll see referral bonuses based on your card. Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card. You can also copy the referral link on the page and share that with your friends and family directly.
-    
-            Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family. Keep in mind there is a limit to how many friends you can refer in a year.
-    
-            Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards. For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.
-    
-            As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection. In general, booking travel through American Express pays off in more ways than one.
-    
-            Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers. With Amex Offers, card holders can earn statement credits or bonus points at select retailers. In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.
-    
-            To find and take advantage of Amex Offers, you’ll need to log in to your account. From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page. Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer. From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase. Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.
-    
-            Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards. It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.
-    
-            If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards. Simply log into your account and follow these steps:
-    
-            After this, rewards get transferred to your Membership Rewards account quarterly.
-    
-            Now, for the fun part! Once you’ve earned Membership Rewards points, it’s time to put them to good use. Amex gives you several options to redeem points, but the best option is travel. You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.
-    
-            Here’s a closer look at your options and how they work.
-    
-            American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners. The best way to redeem Membership Rewards for maximum value is through airline transfers. But keep in mind that not all airline loyalty programs are equal.
-    
-            Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.
-    
-            If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.
-    
-            It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels. So, at times, you can get more points in return than the standard transfer rate listed above. Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.
-    
-            By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.
-    
-            Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.
-    
-            Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you. But, some redemptions are better than others — particularly when it comes to award sweet spots.
-    
-            Some examples of these sweet spot awards using your Amex Membership Rewards points include the following:
-    
-            Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners. But that may not always make sense for all card holders — and it’s not your only option.
-    
-            If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions. This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.
-    
-            Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value. If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.
-    
-            You’ll get slightly more value by redeeming your Membership Rewards for travel bookings. By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings. Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.
-    
-            If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value. However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.
-    
-            Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points. However, that’s not always the case for everyone. You may want to save a few dollars here or there on a purchase you’re making online. Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.
-    
-            When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them. The value you can get ranges from about 0.6 cents each to about 2 cents each. Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.
-    
-            Amex offers 0.6 cents per point in value when you use points for statement credits. Meanwhile, travel bookings will get you a somewhat higher 1 cent per point. The highest value comes from transferring points to airline and hotel partners, as detailed above. Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.
-    
-            American Express Membership Rewards points are some of the most versatile and valuable out there. By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more. Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.
-    
-            Click here for rates and fees of the Amex Platinum card.Click here for rates and fees of the Amex Gold card.Click here for rates and fees of the Amex Business Platinum card.Click here for rates and fees of the Amex Business Gold card.Click here for rates and fees of the Amex Blue Business Plus card.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,01/04/2024,"['American Express Membership Rewards® are among the most valuable travel rewards points out there.', 'That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.', 'In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.', 'Having Membership Rewards points gives you options, and that’s always a good thing.', 'If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.', 'You can earn Membership Rewards points in various ways.', 'Some require little effort, while others involve a heavier lift.', 'It’s a good idea to take advantage of all the options out there in order to maximize your earnings.', 'Here’s a look at how to earn Membership Rewards most efficiently.', 'The primary way to earn Amex points is through credit cards that earn Membership Rewards.', 'Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.', 'These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card.', 'With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.', 'Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.', 'Keep in mind, too, that many of these cards carry an annual fee:  All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.', 'Similarly, American Express offers a suite of business credit cards.', 'All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.', 'Keep in mind that several of these cards also carry an annual fee:  Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses.', 'If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).', 'If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel.', 'Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.', 'When applying for American Express cards, be sure to take note of the application rules.', 'For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days.', 'Before applying for a credit card, it’s important to do your research.', 'As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer.', 'One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.', 'Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings.', 'That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.', 'If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.', 'American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card.', 'You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.', 'To find out your card’s current referral bonus, head over to the Amex referral site.', 'You’ll see referral bonuses based on your card.', 'Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card.', 'You can also copy the referral link on the page and share that with your friends and family directly.', 'Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family.', 'Keep in mind there is a limit to how many friends you can refer in a year.', 'Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards.', 'For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.', 'As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection.', 'In general, booking travel through American Express pays off in more ways than one.', 'Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers.', 'With Amex Offers, card holders can earn statement credits or bonus points at select retailers.', 'In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.', 'To find and take advantage of Amex Offers, you’ll need to log in to your account.', 'From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page.', 'Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer.', 'From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase.', 'Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.', 'Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards.', 'It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.', 'If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards.', 'Simply log into your account and follow these steps:  After this, rewards get transferred to your Membership Rewards account quarterly.', 'Now, for the fun part!', 'Once you’ve earned Membership Rewards points, it’s time to put them to good use.', 'Amex gives you several options to redeem points, but the best option is travel.', 'You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.', 'Here’s a closer look at your options and how they work.', 'American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners.', 'The best way to redeem Membership Rewards for maximum value is through airline transfers.', 'But keep in mind that not all airline loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.', 'It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels.', 'So, at times, you can get more points in return than the standard transfer rate listed above.', 'Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.', 'By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.', 'Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you.', 'But, some redemptions are better than others — particularly when it comes to award sweet spots.', 'Some examples of these sweet spot awards using your Amex Membership Rewards points include the following:  Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions.', 'This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.', 'Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value.', 'If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.', 'You’ll get slightly more value by redeeming your Membership Rewards for travel bookings.', 'By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings.', 'Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.', 'If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value.', 'However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.', 'Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points.', 'However, that’s not always the case for everyone.', 'You may want to save a few dollars here or there on a purchase you’re making online.', 'Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.', 'When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them.', 'The value you can get ranges from about 0.6 cents each to about 2 cents each.', 'Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.', 'Amex offers 0.6 cents per point in value when you use points for statement credits.', 'Meanwhile, travel bookings will get you a somewhat higher 1 cent per point.', 'The highest value comes from transferring points to airline and hotel partners, as detailed above.', 'Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.', 'American Express Membership Rewards points are some of the most versatile and valuable out there.', 'By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more.', 'Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.', 'Click here for rates and fees of the Amex Platinum card.', 'Click here for rates and fees of the Amex Gold card.', 'Click here for rates and fees of the Amex Business Platinum card.', 'Click here for rates and fees of the Amex Business Gold card.', 'Click here for rates and fees of the Amex Blue Business Plus card.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.5246481979610982,"If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.",But keep in mind that not all airline loyalty programs are equal.,0.9622429311275482,"With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.",,2024-04-25
-Notorious far-right blog The Gateway Pundit declares bankruptcy over 2020 election-related lawsuits,https://edition.cnn.com/2024/04/24/media/gateway-pundit-declares-bankruptcy/index.html,"
-  Updated
-        11:57 AM EDT, Thu April 25, 2024
-    ","The Gateway Pundit, the notorious far-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election.
-    
-            The move comes as the staunchly pro-Donald Trump website, which promoted the false notion that the 2020 election was stolen by President Joe Biden and his allies, faces multiple lawsuits over its bogus claims.
-    
-            One of the lawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing stories that falsely accused them of election fraud, which the pair said prompted a wave of harassment and threats of violence. The judge has rejected several attempts to throw out the case, which is currently in the discovery phase ahead of a potential trial.
-    
-            Another lawsuit, filed by former Dominion Voting Systems executive Eric Coomer, accuses the outlet of defamation. A Colorado appeals court ruled earlier this month that Coomer’s sweeping case can proceed toward trial against Gateway Pundit and several other prominent defendants.
-    
-            Over the years, The Gateway Pundit has become infamous for its publishing of hyper-partisan blog posts, many of which advance dangerous lies and conspiracy theories. Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.
-    
-            In a Wednesday statement, Hoft said the outlet had filed for Chapter 11 bankruptcy protection “as a result of the progressive liberal lawfare attacks” and was “not an admission of fault or culpability.” He described the move as a “common tool for reorganization and to consolidate litigation when attacks are coming from all sides.”
-    
-            “It allows [The Gateway Pundit] to consolidate this lawfare in one court for ultimate resolution,” Hoft said.
-    
-            Hoft indicated that the website would continue publishing as the litigation plays out in court, proclaiming the outlet “will not be deterred.”
-    
-            In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial, including the Coomer case.
-    
-            “The Gateway Pundit is falling in the footsteps of Rudy Giuliani in seeking protection from the bankruptcy court… Rather than ‘liberal lawfare attacks,’ as Jim Hoft claims, this is what accountability looks like,” Coomer attorney Charlie Cain told CNN in a statement.
-    
-            The Gateway Pundit is one of several right-wing media outlets grappling with the fallout stemming from its promotion of 2020 election lies. Fox News paid a record $787 million to settle a monster defamation lawsuit brought by Dominion Voting Systems, an election technology company. And the right-wing network still faces a similar lawsuit from Smartmatic, another election company.
-    
-            Meanwhile, the far-right channel One America News recently settled a lawsuit with Smartmatic. And the right-wing cable outlet Newsmax faces lawsuits from both Smartmatic and Dominion.",CNN,25/04/2024,"['The Gateway Pundit,the notoriousfar-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election.', 'The move comes as thestaunchlypro-Donald Trump website, which promoted the false notion that the 2020 election was stolen by President Joe Biden and his allies, faces multiple lawsuits over itsbogus claims.', 'One ofthelawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing storiesthatfalsely accusedthem of election fraud, whichthe pairsaid prompted a wave of harassment and threats of violence.', 'The judge has rejected several attempts to throw out the case, which is currently in the discovery phase ahead of a potential trial.', 'Another lawsuit, filedby formerDominion Voting Systems executiveEric Coomer, accuses the outlet of defamation.', 'A Colorado appeals court ruled earlier this month that Coomer’s sweeping case can proceed toward trial against Gateway Pundit and several other prominent defendants.', 'Over the years, The Gateway Pundit has becomeinfamousfor its publishing of hyper-partisan blog posts, many of which advance dangerous lies and conspiracy theories.', 'Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.', 'In a Wednesday statement, Hoft said the outlet had filed for Chapter 11 bankruptcy protection “as a result of the progressive liberal lawfare attacks” and was “not an admission of fault or culpability.”', 'He described the move as a “common tool for reorganization and to consolidate litigation when attacks are coming from all sides.”', '“It allows[The Gateway Pundit]to consolidate this lawfare in one court for ultimate resolution,” Hoft said.', 'Hoft indicated that the website would continue publishing as the litigation plays out in court,proclaimingthe outlet “will not be deterred.”', 'In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial,including the Coomer case.', '“The Gateway Pundit is falling in the footsteps of Rudy Giuliani in seeking protection from the bankruptcy court… Rather than ‘liberal lawfare attacks,’ as Jim Hoft claims, thisiswhat accountability looks like,” Coomer attorney Charlie Cain told CNN in a statement.', 'The Gateway Pundit is one of several right-wing media outlets grappling with the fallout stemming from its promotion of 2020 election lies.', 'Fox News paid a record $787 million to settle a monster defamation lawsuitbrought byDominion Voting Systems, an election technology company.', 'And the right-wing network still faces a similar lawsuit from Smartmatic, another election company.', 'Meanwhile, the far-right channel One America News recently settled a lawsuit with Smartmatic.', 'And the right-wingcableoutlet Newsmax faces lawsuits from both Smartmatic and Dominion.']",-0.2670772734804134,"Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.","One ofthelawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing storiesthatfalsely accusedthem of election fraud, whichthe pairsaid prompted a wave of harassment and threats of violence.",-0.2213381273405892,"Fox News paid a record $787 million to settle a monster defamation lawsuitbrought byDominion Voting Systems, an election technology company.","In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial,including the Coomer case.",2024-04-25
-Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html,"
-  Published
-        9:50 AM EST, Tue November 21, 2023
-    ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days.
-    
-            It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?
-    
-            OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is.
-    
-            This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried.
-    
-            But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.
-    
-            AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker.
-    
-            But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read).
-    
-            AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”
-    
-            Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.
-    
-            Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?
-    
-            One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.
-    
-            “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step.
-    
-            So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.
-    
-            The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-04-25
-Do women-only co-working spaces have a future?,https://www.bbc.co.uk/news/business-68733573,2024-04-23T23:25:42.000Z,"Women-only business networking and co-working clubs like Chief in London and The Co-Working Space in Nottingham have recently closed their doors. The concept gained a lot of traction around the height of the MeToo movement. Some women find the idea a step backwards, but for others these clubs are a way to level the playing field. The idea of men-only ""gentlemen's clubs"" is well established, with centuries-old places like White's and The Garrick Club in London. But women-only ones have been on the rise too over the past decade, often with a twist - they focus on the idea of co-working. Co-working spaces are big, open-plan offices with hot desks and nice amenities where people can come and work on a membership basis. They have grown in popularity as remote working has become easier.  Women-only co-working spaces hit the headlines about eight years ago thanks to The Wing in the US. It was founded in New York by Audrey Gelman, former press secretary to Hillary Clinton, against the backdrop of the MeToo movement and Donald Trump's rise to power. It raised millions in funding, with a promise of female empowerment.  But then it suffered a spectacular fall during the pandemic. There was a staff revolt, with allegations of mistreatment and racism. Its pricing model led to accusations of social exclusivity. It was also hit by legal challenges for sexual discrimination over its core women-only membership policy. The self-proclaimed ""female utopia"" abruptly closed all of its spaces in the summer of 2022, including a branch in London. Despite the demise of The Wing, other women-only co-working spaces are still operating. There are about 50 in Europe, including several in the UK. One such place is The Hearth, in north London. Bonnie Lister Parsons, founder of SOS Dance Global, a digital platform that teaches women how to dance, is a regular. So why is she a member? It's been challenging growing her business as a woman, she explains, as only about 2% of venture capital funding goes to female-led companies. ""When you are operating in a world with a lot of headwinds, being in an all-female space is refreshing - and joyful,"" she says. She also says she wasn't impressed by her tour of the co-working space WeWork, where they were keen to boast about the free beer on tap: ""For the guy showing me round it was a massive selling point. I know not all women dislike beer, but personally, I couldn't care less.""  Audrey Gelman, founder of The Wing, used to argue that rival co-working spaces had ""pumps for beer, but not for breast milk"".  The Hearth is designed to feel like ""your dream home"", according to its founder Oi Leng Lui. The walls and furnishings are relaxing, pastel colours and an aromatic smell is pumped into the space where women hot desk. There is even a wellness room. Susie Campbell, a business adviser and coach, is another regular. ""I used to work in the City for many years - a very male-dominated environment,"" she explains. ""The air conditioning was always down too low... there's something just really safe here and a sense of community."" There are a handful of other women-only co-working spaces in the UK, including Egg in Edinburgh and Maven in Winchester, a former bridal shop which the owner decided to convert.  Zoe Ellis-Moore is the founder of Spaces to Places, which advises companies on how to find the best flexible office space. Women-only co-working spaces should be seen as part of a wider trend of people wanting to work flexibly in ""tribes"", she says. ""We've seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies."" Start-ups and freelancers want to work flexibly, but with a community of like-minded people, she points out, and women-only spaces represent a tribe, just like these. In 2017, the New York City Commission on Human Rights launched an investigation into The Wing over the issue of gender discrimination and the following year, a man filed a lawsuit against The Wing in Washington DC after he was refused admission.   The Wing adapted its membership rules to say that anyone could join, as long as they were committed to its mission of supporting women.  Other women-only spaces in the US followed suit.  The Coven in Minnesota started in 2018 as a women-only space after a successful crowdfunding campaign and now has four spaces. It has 1,000 members but men now make up about 20% of that figure. ""We were hearing from members that they wanted to invite more of their male friends into the space,"" says Erin Farrell, co-founder of The Coven, ""which led us to think, when we talk about physical and psychological safety, how tied to gender is that?""  Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.  Those that choose to join tend to be ""allies and accomplices"", she adds, and the clubs' amenities and programme of events remain women-focused. So where does this leave women-only spaces in the UK? ""Equality legislation in the UK [enshrined in the Equality Act] generally protects against discrimination based on gender in the supply of services,"" according to Sarah Evans, partner at Constantine Law, which specialises in employment and discrimination law, ""but there are exceptions, including for associations, groups and private clubs.""  ""Criteria apply, but women-only co-working groups, with the aim of supporting and facilitating women doing business together, are highly unlikely to fall foul of anti-discrimination laws,"" she says. The other pressing question is, are these spaces empowering women in the long term? Some workplace experts are not convinced. ""While women-only spaces can provide temporary relief from conflict, judgement, assumptions, and distractions,"" says Blaire Palmer, leadership consultant and author of Punks in Suits, ""it is vital that we all learn how to challenge each other and develop the skills to bring our unique perspective to our work.  ""Women-only spaces are useful for exploring, in a safer environment, the challenges of being a woman in what is still not a level playing field, but they should never become a place to hide permanently."" However, others think that women-only work clubs are counterproductive. ""Women-only co-working spaces are a step backwards,"" according to Anne Kirby, who set up The Candy Factory co-working space in Pennsylvania. ""Yes, women have unique challenges and are at a disadvantage in the business world, but how does removing yourself from real life get you anywhere? How can we expect men to understand the need for respect and equality if we subtract them from our daily work lives? ""We're working to disrupt the 'good ol' boys club' mentality; why create the same thing for women?""  Back downstairs at The Hearth, a lunch-and-learn workshop is taking place. The women who were working away on their laptops are now sitting in a square listening to a talk by Elena Megan, a self-discovery and mindset coach.  An audience member shares a story that perhaps explains the attraction of a women-only co-working space like this for some. She says she has always struggled to network with men because she feels they do not treat her like an equal professional.  The other members nod and murmur in agreement. ",BBC,23/04/2024,"['Women-only business networking and co-working clubs like Chief in London and The Co-Working Space in Nottingham have recently closed their doors.', 'The concept gained a lot of traction around the height of the MeToo movement.', 'Some women find the idea a step backwards, but for others these clubs are a way to level the playing field.', 'The idea of men-only ""gentlemen\'s clubs"" is well established, with centuries-old places like White\'s and The Garrick Club in London.', 'But women-only ones have been on the rise too over the past decade, often with a twist - they focus on the idea of co-working.', 'Co-working spaces are big, open-plan offices with hot desks and nice amenities where people can come and work on a membership basis.', 'They have grown in popularity as remote working has become easier.', 'Women-only co-working spaces hit the headlines about eight years ago thanks to The Wing in the US.', ""It was founded in New York by Audrey Gelman, former press secretary to Hillary Clinton, against the backdrop of the MeToo movement and Donald Trump's rise to power."", 'It raised millions in funding, with a promise of female empowerment.', 'But then it suffered a spectacular fall during the pandemic.', 'There was a staff revolt, with allegations of mistreatment and racism.', 'Its pricing model led to accusations of social exclusivity.', 'It was also hit by legal challenges for sexual discrimination over its core women-only membership policy.', 'The self-proclaimed ""female utopia"" abruptly closed all of its spaces in the summer of 2022, including a branch in London.', 'Despite the demise of The Wing, other women-only co-working spaces are still operating.', 'There are about 50 in Europe, including several in the UK.', 'One such place is The Hearth, in north London.', 'Bonnie Lister Parsons, founder of SOS Dance Global, a digital platform that teaches women how to dance, is a regular.', 'So why is she a member?', 'It\'s been challenging growing her business as a woman, she explains, as only about 2% of venture capital funding goes to female-led companies. ""', 'When you are operating in a world with a lot of headwinds, being in an all-female space is refreshing - and joyful,"" she says.', 'She also says she wasn\'t impressed by her tour of the co-working space WeWork, where they were keen to boast about the free beer on tap: ""For the guy showing me round it was a massive selling point.', 'I know not all women dislike beer, but personally, I couldn\'t care less.""', 'Audrey Gelman, founder of The Wing, used to argue that rival co-working spaces had ""pumps for beer, but not for breast milk"".', 'The Hearth is designed to feel like ""your dream home"", according to its founder Oi Leng Lui.', 'The walls and furnishings are relaxing, pastel colours and an aromatic smell is pumped into the space where women hot desk.', 'There is even a wellness room.', 'Susie Campbell, a business adviser and coach, is another regular. ""', 'I used to work in the City for many years - a very male-dominated environment,"" she explains. ""', 'The air conditioning was always down too low... there\'s something just really safe here and a sense of community.""', 'There are a handful of other women-only co-working spaces in the UK, including Egg in Edinburgh and Maven in Winchester, a former bridal shop which the owner decided to convert.', 'Zoe Ellis-Moore is the founder of Spaces to Places, which advises companies on how to find the best flexible office space.', 'Women-only co-working spaces should be seen as part of a wider trend of people wanting to work flexibly in ""tribes"", she says. ""', 'We\'ve seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies.""', 'Start-ups and freelancers want to work flexibly, but with a community of like-minded people, she points out, and women-only spaces represent a tribe, just like these.', 'In 2017, the New York City Commission on Human Rights launched an investigation into The Wing over the issue of gender discrimination and the following year, a man filed a lawsuit against The Wing in Washington DC after he was refused admission.', 'The Wing adapted its membership rules to say that anyone could join, as long as they were committed to its mission of supporting women.', 'Other women-only spaces in the US followed suit.', 'The Coven in Minnesota started in 2018 as a women-only space after a successful crowdfunding campaign and now has four spaces.', 'It has 1,000 members but men now make up about 20% of that figure. ""', 'We were hearing from members that they wanted to invite more of their male friends into the space,"" says Erin Farrell, co-founder of The Coven, ""which led us to think, when we talk about physical and psychological safety, how tied to gender is that?""', 'Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.', 'Those that choose to join tend to be ""allies and accomplices"", she adds, and the clubs\' amenities and programme of events remain women-focused.', 'So where does this leave women-only spaces in the UK? ""', 'Equality legislation in the UK [enshrined in the Equality Act] generally protects against discrimination based on gender in the supply of services,"" according to Sarah Evans, partner at Constantine Law, which specialises in employment and discrimination law, ""but there are exceptions, including for associations, groups and private clubs."" ""', 'Criteria apply, but women-only co-working groups, with the aim of supporting and facilitating women doing business together, are highly unlikely to fall foul of anti-discrimination laws,"" she says.', 'The other pressing question is, are these spaces empowering women in the long term?', 'Some workplace experts are not convinced. ""', 'While women-only spaces can provide temporary relief from conflict, judgement, assumptions, and distractions,"" says Blaire Palmer, leadership consultant and author of Punks in Suits, ""it is vital that we all learn how to challenge each other and develop the skills to bring our unique perspective to our work. ""', 'Women-only spaces are useful for exploring, in a safer environment, the challenges of being a woman in what is still not a level playing field, but they should never become a place to hide permanently.""', 'However, others think that women-only work clubs are counterproductive. ""', 'Women-only co-working spaces are a step backwards,"" according to Anne Kirby, who set up The Candy Factory co-working space in Pennsylvania. ""', 'Yes, women have unique challenges and are at a disadvantage in the business world, but how does removing yourself from real life get you anywhere?', 'How can we expect men to understand the need for respect and equality if we subtract them from our daily work lives? ""', 'We\'re working to disrupt the \'goodol\' boys club\' mentality; why create the same thing for women?""', 'Back downstairs at The Hearth, a lunch-and-learn workshop is taking place.', 'The women who were working away on their laptops are now sitting in a square listening to a talk by Elena Megan, a self-discovery and mindset coach.', 'An audience member shares a story that perhaps explains the attraction of a women-only co-working space like this for some.', 'She says she has always struggled to network with men because she feels they do not treat her like an equal professional.', 'The other members nod and murmur in agreement.']",0.226144467537617,"Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.",She says she has always struggled to network with men because she feels they do not treat her like an equal professional.,-0.0436989710881159,"We've seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies.""",But then it suffered a spectacular fall during the pandemic.,2024-04-25
-Sainsbury's says almost everyone now shops in store,https://www.bbc.co.uk/news/business-68895280,2024-04-25T07:00:09.000Z,"Sainsbury's says shoppers are returning to its stores as the surge in online shopping seen during the Covid pandemic continues to unwind. The UK's second largest supermarket said online sales had been above 20% at the height of the pandemic, but are now back to about 13%.  Its comments came as it reported strong food sales after spending heavily on keeping prices low to attract shoppers. However, other areas were weaker, with sales of clothing and fuel falling. Sainsbury's said pre-tax profits for the past year had fallen 15% to £277m, reflecting costs related to its decision to wind down its banking division. However, underlying profits rose 1.6% to £701m, which was slightly higher than expected, and Sainsbury's said it was ""confident of delivering strong profit growth in the year ahead"". The UK's second largest supermarket said its food business was ""firing on all cylinders"", with grocery sales growing by 9.4% over the past year. Chief executive Simon Roberts said that more than 87% of all food sold was done so ""in a physical store"".   Supermarkets have been fighting hard for customers, with shoppers still feeling the effects of steep price rises over the past two years, which have ratcheted up the cost of living. Sainsbury's response has been to focus heavily on its food, which accounts for about three-quarters of its business,  and it said it has spent £780m over the past three years on keeping prices low, including promotions such as Nectar prices and price-matching budget chain Aldi. Mr Roberts said he expected inflation - which measures the pace of price rises - to ""continue to stabilise"". Official figures released last week showed that overall inflation fell to 3.2% in March, partly due to declines in some food prices. Mr Roberts said he expected inflation to remain in ""low single digits"" in the year ahead. He also said there were signs that shoppers were beginning to ""trade up"" by buying more premium products when it came to food. However, he said it would probably take a cut in interest rates later this year to lift sales of more expensive non-food items for cautious shoppers. ""It is going to take a change in interest rates later in the year - let's hope - for the environment on discretionary spend begin to change,"" said Mr Roberts. While Sainsbury's food business performed well, its general merchandise sales - which include its Argos business - slipped 0.5% and clothing sales fell 6.4%. The company also owns the Habitat brand. The retailer said trading at Argos had been hit by last summer's wet weather, which affected sales of seasonal goods such as barbecues and paddling pools.  The weather also impacted clothes sales, as competitors launched sales to clear stock, and Sainsbury's said there had been some disruption to clothing supplies in recent months because of Houthi rebels attacks on shipping in the Red Sea. As Sainsbury's announced its results, a ""technical issue"" hit some of its online deliveries on Thursday. However, the retailer said the problem had been fixed, and had only affected a ""small number"" of customers. Read more tips here ",BBC,25/04/2024,"[""Sainsbury's says shoppers are returning to its stores as the surge in online shopping seen during the Covid pandemic continues to unwind."", ""The UK's second largest supermarket said online sales had been above 20% at the height of the pandemic, but are now back to about 13%."", 'Its comments came as it reported strong food sales after spending heavily on keeping prices low to attract shoppers.', 'However, other areas were weaker, with sales of clothing and fuel falling.', ""Sainsbury's said pre-tax profits for the past year had fallen 15% to £277m, reflecting costs related to its decision to wind down its banking division."", 'However, underlying profits rose 1.6% to £701m, which was slightly higher than expected, and Sainsbury\'s said it was ""confident of delivering strong profit growth in the year ahead"".', 'The UK\'s second largest supermarket said its food business was ""firing on all cylinders"", with grocery sales growing by 9.4% over the past year.', 'Chief executive Simon Roberts said that more than 87% of all food sold was done so ""in a physical store"".', 'Supermarkets have been fighting hard for customers, with shoppers still feeling the effects of steep price rises over the past two years, which have ratcheted up the cost of living.', ""Sainsbury's response has been to focus heavily on its food, which accounts for about three-quarters of its business, and it said it has spent £780m over the past three years on keeping prices low, including promotions such as Nectar prices and price-matching budget chain Aldi."", 'Mr Roberts said he expected inflation - which measures the pace of price rises - to ""continue to stabilise"".', 'Official figures released last week showed that overall inflation fell to 3.2% in March, partly due to declines in some food prices.', 'Mr Roberts said he expected inflation to remain in ""low single digits"" in the year ahead.', 'He also said there were signs that shoppers were beginning to ""trade up"" by buying more premium products when it came to food.', 'However, he said it would probably take a cut in interest rates later this year to lift sales of more expensive non-food items for cautious shoppers. ""', 'It is going to take a change in interest rates later in the year - let\'s hope - for the environment on discretionary spend begin to change,"" said Mr Roberts.', ""While Sainsbury's food business performed well, its general merchandise sales - which include its Argos business - slipped 0.5% and clothing sales fell 6.4%."", 'The company also owns the Habitat brand.', ""The retailer said trading at Argos had been hit by last summer's wet weather, which affected sales of seasonal goods such as barbecues and paddling pools."", ""The weather also impacted clothes sales, as competitors launched sales to clear stock, and Sainsbury's said there had been some disruption to clothing supplies in recent months because of Houthi rebels attacks on shipping in the Red Sea."", 'As Sainsbury\'s announced its results, a ""technical issue"" hit some of its online deliveries on Thursday.', 'However, the retailer said the problem had been fixed, and had only affected a ""small number"" of customers.', 'Read more tips here']",0.0009373406900937,"However, underlying profits rose 1.6% to £701m, which was slightly higher than expected, and Sainsbury's said it was ""confident of delivering strong profit growth in the year ahead"".","However, other areas were weaker, with sales of clothing and fuel falling.",-0.0594508963472702,"The UK's second largest supermarket said its food business was ""firing on all cylinders"", with grocery sales growing by 9.4% over the past year.","Sainsbury's said pre-tax profits for the past year had fallen 15% to £277m, reflecting costs related to its decision to wind down its banking division.",2024-04-25
-Calls grow for Columbia University president to step down as protests spread nationwide,https://edition.cnn.com/2024/04/23/business/columbia-yale-colleges-universities-protests/index.html,"
-  Updated
-        8:06 PM EDT, Wed April 24, 2024
-    ","National political leaders ratcheted up the pressure for Columbia University President Minouche Shafik to step down on Wednesday as pro-Palestinian protests continued at the school’s New York campus and spread to colleges across the country.
-    
-            The escalation comes as months of student-led demonstrations against the war in Gaza have brought national and international attention to America’s higher-education system.
-    
-            The growing unrest on college campuses, along with a rise in antisemitism, has led to numerous congressional hearings and, at least in part, to the resignation of two Ivy League presidents – Claudine Gay at Harvard University and Liz Magill at the University of Pennsylvania.
-    
-            Republican Speaker of the House Mike Johnson visited Columbia University’s campus to call for yet another resignation on Wednesday afternoon.
-    
-            “I am here today joining my colleagues and calling on President Shafik to resign if she could not immediately bring order to this chaos,” Johnson said during a tense press conference where the crowd repeatedly interrupted the speaker and at times loudly booed him and other GOP lawmakers who were with him.
-    
-            At the University of Texas at Austin, meanwhile, state troopers in riot gear, including some on horseback, began breaking up a group of protesters shortly after a demonstration on Wednesday.
-    
-            The Palestine Solidarity Committee in Austin organized a walkout and occupation on the school’s south lawn. According to an Instagram post announcing the event, students were encouraged to bring “blankets, food and water, face masks, and lots of energy.”
-    
-            Columbia notified students and faculty Wednesday morning that the hybrid model for classes, meant to ensure student safety, will extend to final exams.
-    
-            Provost Angela Olinto said in an email that all final course assessments, including exams, presentations and projects, “must include a remote option for students who have requested support for virtual assessment.” The move was made “in order to address the concerns of our members in an evolving campus environment,” Olinto wrote.
-    
-            The university earlier in the day said it has extended negotiations with student activists over the dismantling of their pro-Palestinian encampment that has highlighted schools’ divestment practices and prompted solidarity protests at colleges across the country.
-    
-            That statement came early Wednesday morning – just hours after Columbia’s president announced it had given protesters a midnight deadline to reach an agreement or the university would consider “alternative options” to clear the encampment. The talks will now be extended another 48 hours after “important progress” was made, the spokesperson said.
-    
-            Protesters have said they won’t disperse until the university agrees to cut ties with Israeli academic institutions and commits to a “complete divestment” of Columbia’s funds from entities connected to Israel, among other demands. But the editor-in-chief of Columbia’s student newspaper told CNN the negotiating parties seem to be struggling to find a middle ground.
-    
-            “There seems to be very little room in terms of where the university wants to meet the students and the students want to meet with the university,” Isabella Ramirez, editor-in-chief of the Columbia Spectator, said Tuesday night. “It doesn’t seem that there’s much room in terms of compromise.”
-    
-            Student organizers released a statement shortly after midnight, saying their representatives left the negotiations Tuesday after the university threatened to call in police and the National Guard if protesters “do not acquiesce to their demands.”
-    
-            Susan Ellingwood, associate vice president of public affairs at Columbia told CNN: “Deploying the National Guard was never on the table.”
-    
-            Live updates: Protests at Columbia and other schools enter a second week 
-    
-            House Speaker Mike Johnson also said on Wednesday that he will call on Columbia President Shafik to resign when he is set to join Jewish students on campus, followed by a press conference.
-    
-            While on campus Wednesday, Johnson will have a meal with Jewish students before the event. He will be joined by New York Reps. Mike Lawler, Nicole Malliotakis and others in the New York GOP delegation. “We’re relying on and calling upon and demanding these university officials to control of the situation which is just completely out of control right now,” Johnson said.
-    
-            The university’s commencement ceremony is scheduled for Wednesday, May 15. Currently, the student protestors on the West Lawn are camping in a space that is utilized during commencement.
-    
-            Tensions have escalated at many US universities since the October 7 terror attack on Israel by Hamas, which killed about 1,200 people and took others hostage, and Israel’s subsequent war on Hamas in Gaza, which has since killed tens of thousands of Palestinian civilians, according to the enclave’s health ministry.
-    
-            As the protests stretch into their eighth day, President Shafik has faced criticism from donors and lawmakers who believe police should be brought in to clear the encampment and restore order on campus – even as students and faculty condemn the president’s similar decision last week to ask the New York Police Department to clear another student encampment.
-    
-            More than 80 tents packed the lawn prior to the deadline late Tuesday night as hundreds of people buzzed in and around the encampment. The university said student protesters had “committed to dismantling and removing a significant number of tents” and agreed that people not affiliated with the university will leave the encampment.
-    
-            Student activists “have taken steps to make the encampment welcome to all and have prohibited discriminatory or harassing language,” the university said.
-    
-            Days of unrest on campus, as well as gatherings of non-student protesters outside the university’s gates, have led to safety concerns among Jewish students and prompted Columbia to move to mostly hybrid classes on its main campus for the rest of the semester.
-    
-            “I fully support the importance of free speech, respect the right to demonstrate, and recognize that many of the protestors have gathered peacefully,” Shafik said in a release late Tuesday evening. “However, the encampment raises serious safety concerns, disrupts campus life, and has created a tense and at times hostile environment for many members of our community.”
-    
-            Tensions are high, especially as Jewish students, faculty and staff celebrate the Passover holiday. Elected officials from the mayor of New York through President Joe Biden have commented, with leaders of the House of Representatives issuing statements on both sides of the aisle.
-    
-            House Speaker Mike Johnson said he planned to visit Jewish students at Columbia on Wednesday and hold a news conference “regarding the troubling rise of virulent antisemitism on America’s college campuses,” according to his office.
-    
-            Students across the United States have been protesting in support of Palestinians in Gaza and in solidarity with students who were suspended at Columbia this past week.
-    
-            As the national spotlight has fallen on Columbia, similar encampments are growing at other schools, and officials nationwide are grappling with a response to what has become a coast-to-coast disruption.
-    
-            Pro-Palestinian encampments have been set up at the Massachusetts Institute of Technology, Emerson College, the University of California, Berkeley and the University of Michigan.
-    
-            Arrests have been made at other campuses across the US as well. More than 100 students from Columbia University and Barnard College were arrested last Thursday. Barnard President Lisa Rosenbury confirmed in a statement Monday that students on interim suspension “no longer have access to most Barnard buildings.”
-    
-            More 130 people were arrested at New York University at a pro-Palestinian protest Monday night. NYU said it asked for help from the NYPD after school officials said there were “intimidating chants and several antisemitic incidents” during a protest. That led to scenes of a chaotic confrontation between protesters and police in full riot gear. An NYPD official said the demonstrations weren’t violent overall, except for a few bottles thrown at police officers.
-    
-            Yale University police arrested at least 45 protesters Monday and charged them with criminal trespassing after they refused orders to leave, said police in New Haven, Connecticut, though dozens of protesters remained Tuesday morning.
-    
-            Harvard University has closed Harvard Yard and officials at the university suspended a pro-Palestinian student organization for allegedly violating school policies.
-    
-            And nine people were arrested Tuesday morning at the University of Minnesota’s Twin Cities campus after they formed an encampment that went against school policy.
-    
-            Students, faculty and staff at the University of New Mexico peacefully protested Monday in support of Gaza, the university said in a statement Tuesday.
-    
-            Activists at Columbia said they want a “complete divestment” from anything related to Israel, financial transparency into the university’s investments and amnesty from any disciplinary measures for students participating in the protests.
-    
-            University officials warned earlier Tuesday that the encampment is violating school rules but did not provide specific disciplinary consequences. New York City Mayor Eric Adams said Tuesday authorities have identified “outside agitators” causing problems at the mostly peaceful student protests at Columbia, NYU and other schools in the city.
-    
-            The encampment at Columbia University was lively early this week, with many students congregating in circles, eating and talking.
-    
-            A group of Jewish and non-Jewish students gathered at the encampment to celebrate Passover Seder Monday night. Columbia student Cameron Jones told CNN: “I am Jewish and, to me, Passover symbolizes perseverance and resilience. I think this encampment represents those two ideals because we have seen the university take countless measures to try to suppress our student activism, and here is us persevering through that.”
-    
-            But some other Jewish students say they fear for their safety. Jacob Schmeltz, a senior at Columbia, told CNN he typically celebrated Passover on campus, but has chosen to go home for the holiday this year.
-    
-            “Jewish students have had enough, and it’s gotten to the point that we feel safer off campus than on it,” he said.
-    
-            As the protests stretch on, they have increasingly caught the attention of lawmakers. On Tuesday, the White House said that Biden was “of course aware” of the pro-Palestinian protests at college campuses across the country.
-    
-            “We know that this is a painful moment for many communities, we respect that, and we support every American’s right to peacefully protest, that’s something that we have been consistent about,” White House Deputy Press Secretary Andrew Bates told reporters.
-    
-            Bates also reiterated that the White House denounced calls for violence and antisemitic rhetoric.
-    
-            Correction: An earlier version of this story incorrectly stated which day Columbia University announced it has extended negotiations with student activists. The school announced the decision early Wednesday.
-    
-            CNN’s Kate Sullivan, Samantha Delouya, Melanie Zanona, Taylor Romine, Omar Jimenez, Sara Smart, Matt Egan, Nic F. Anderson, Julia Jones, Isabel Rosales and Holly Yan contributed to report.",CNN,24/04/2024,"['National political leaders ratcheted up the pressure for Columbia University President Minouche Shafik to step down on Wednesday as pro-Palestinian protests continued at the school’s New York campus and spread to colleges across the country.', 'The escalation comes as months of student-led demonstrations against the war in Gaza have brought national and international attention to America’s higher-education system.', 'The growing unrest on college campuses, along with a rise in antisemitism, has led to numerous congressional hearings and, at least in part, to the resignation of two Ivy League presidents – Claudine Gay at Harvard University and Liz Magill at the University of Pennsylvania.', 'Republican Speaker of the House Mike Johnson visited Columbia University’s campus to call for yet another resignation on Wednesday afternoon.', '“I am here today joining my colleagues and calling on President Shafik to resign if she could not immediately bring order to this chaos,” Johnson said during a tense press conference where the crowd repeatedly interrupted the speaker and at times loudly booed him and other GOP lawmakers who were with him.', 'At the University of Texas at Austin, meanwhile, state troopers in riot gear, including some on horseback, began breaking up a group of protesters shortly after ademonstration on Wednesday.', 'The Palestine Solidarity Committee in Austin organized a walkout and occupation on the school’s south lawn.', 'According to an Instagrampostannouncing the event, students were encouraged to bring “blankets, food and water, face masks, and lots of energy.”', 'Columbia notified students and faculty Wednesday morning that the hybrid model for classes, meant to ensure student safety, will extend to final exams.', 'Provost Angela Olinto said in an email that all final course assessments, including exams, presentations and projects, “must include a remote option for students who have requested support for virtual assessment.”', 'The move was made “in order to address the concerns of our members in an evolving campus environment,” Olinto wrote.', 'The university earlier in the day said it has extended negotiations with student activists over the dismantling of their pro-Palestinian encampment that has highlighted schools’ divestment practices and prompted solidarity protests at colleges across the country.', 'That statement came early Wednesday morning – just hours after Columbia’s president announced it had given protesters a midnight deadline to reach an agreement or the university would consider “alternative options” to clear the encampment.', 'The talks will now be extended another 48 hours after “important progress” was made, the spokesperson said.', 'Protesters have said they won’t disperse until the university agrees to cut ties with Israeli academic institutions and commits to a “complete divestment” of Columbia’s funds from entities connected to Israel, among other demands.', 'But the editor-in-chief of Columbia’s student newspaper told CNN the negotiating parties seem to be struggling to find a middle ground.', '“There seems to be very little room in terms of where the university wants to meet the students and the students want to meet with the university,” Isabella Ramirez, editor-in-chief of the Columbia Spectator, said Tuesday night. “', 'It doesn’t seem that there’s much room in terms of compromise.”', 'Student organizers released a statement shortly after midnight, saying their representatives left the negotiations Tuesday after the university threatened to call in police and the National Guard if protesters “do not acquiesce to their demands.”', 'Susan Ellingwood, associate vice president of public affairs at Columbia told CNN: “Deploying the National Guardwas neveron the table.”', 'Live updates: Protests at Columbia and other schools enter a second week   House Speaker Mike Johnson also said on Wednesday that he will call on Columbia President Shafik to resign when he is set to join Jewish students on campus, followed by a press conference.', 'While on campus Wednesday, Johnson will have a meal with Jewish students before the event.', 'He will be joined by New York Reps.', 'Mike Lawler, Nicole Malliotakis and others in the New York GOP delegation. “', 'We’re relying on and calling upon and demanding these university officials to control of the situation which is just completely out of control right now,” Johnson said.', 'The university’s commencement ceremony is scheduled for Wednesday, May 15.', 'Currently, the student protestors on the West Lawn are camping in a space that is utilized during commencement.', 'Tensions have escalated at many US universities since theOctober 7 terror attack on Israelby Hamas, which killed about 1,200 people and took others hostage, and Israel’s subsequent war on Hamas in Gaza, which has sincekilled tens of thousands of Palestinian civilians, according to the enclave’s health ministry.', 'As the protests stretch into their eighth day, President Shafik has faced criticism from donors and lawmakers who believe police should be brought in to clear the encampment and restore order on campus – even as students and faculty condemn the president’s similar decision last week to ask the New York Police Department to clear another student encampment.', 'More than 80 tents packed the lawn prior to the deadline late Tuesday night as hundreds of people buzzed in and around the encampment.', 'The university said student protesters had “committed to dismantling and removing a significant number of tents” and agreed that people not affiliated with the university will leave the encampment.', 'Student activists “have taken steps to make the encampment welcome to all and have prohibited discriminatory or harassing language,”the university said.', 'Days of unrest on campus, as well as gatherings of non-student protesters outside the university’s gates, have led to safety concerns among Jewish students and prompted Columbia to move to mostly hybrid classeson its main campus for the rest of the semester.', '“I fully support the importance of free speech, respect the right to demonstrate, and recognize that many of the protestors have gathered peacefully,” Shafik said in a release late Tuesday evening. “', 'However, the encampment raises serious safety concerns, disrupts campus life, and has created a tense and at times hostile environment for many members of our community.”', 'Tensions are high, especially as Jewish students, faculty and staff celebrate the Passover holiday.', 'Elected officials from the mayor of New York through President Joe Biden have commented, with leaders of the House of Representatives issuing statements on both sides of the aisle.', 'House Speaker Mike Johnson said he planned to visit Jewish students at Columbia on Wednesday and hold a news conference “regarding the troubling rise of virulent antisemitism on America’s college campuses,” according to his office.', 'Students across the United States have been protesting in support of Palestinians in Gaza and in solidarity with students who were suspended at Columbia this past week.', 'As the national spotlight has fallen on Columbia, similar encampments are growing at other schools, and officials nationwide are grappling with a response to what has become a coast-to-coast disruption.', 'Pro-Palestinian encampments have been set up at theMassachusetts Institute of Technology, Emerson College, the University of California, Berkeley and the University of Michigan.', 'Arrests have been made at other campuses across the US as well.', 'More than 100 students from Columbia University and Barnard College were arrested last Thursday.', 'Barnard President Lisa Rosenbury confirmed in astatementMonday that students on interim suspension “no longer have access to most Barnard buildings.”', 'More 130 people were arrested at New York University at a pro-Palestinian protest Monday night.', 'NYU said it asked for help from the NYPD after school officials said there were “intimidating chants and several antisemitic incidents” during a protest.', 'That led to scenes of a chaotic confrontation between protesters and police in full riot gear.', 'An NYPD official said the demonstrations weren’t violent overall, except for a few bottles thrown at police officers.', 'Yale University police arrested at least 45 protesters Monday and charged them with criminal trespassing after they refused orders to leave, said police in New Haven, Connecticut, though dozens of protesters remained Tuesday morning.', 'Harvard University has closed Harvard Yard and officials at the university suspended a pro-Palestinian student organization for allegedly violating school policies.', 'And nine people were arrested Tuesday morning at the University of Minnesota’s Twin Cities campus after they formed an encampment that went against school policy.', 'Students, faculty and staff at the University of New Mexico peacefully protested Monday in support of Gaza, the university said in a statement Tuesday.', 'Activists at Columbia said they want a “complete divestment” from anything related to Israel, financial transparency into the university’s investments and amnesty from any disciplinary measures for students participating in the protests.', 'University officials warned earlier Tuesday that the encampment is violating school rules but did not provide specific disciplinary consequences.', 'New York City Mayor Eric Adams said Tuesday authorities have identified “outside agitators” causing problems at the mostly peaceful student protests at Columbia, NYU and other schools in the city.', 'The encampment at Columbia University was lively early this week, with many students congregating in circles, eating and talking.', 'A group of Jewish and non-Jewish students gathered at the encampment to celebrate Passover Seder Monday night.', 'Columbia student Cameron Jones told CNN: “I am Jewish and, to me, Passover symbolizes perseverance and resilience.', 'I think this encampment represents those two ideals because we have seen the university take countless measures to try to suppress our student activism, and here is us persevering through that.”', 'But some other Jewish students say they fear for their safety.', 'Jacob Schmeltz, a senior at Columbia, told CNN he typically celebrated Passover on campus, but has chosen to go home for the holiday this year.', '“Jewish students have had enough, and it’s gotten to the point that we feel safer off campus than on it,” he said.', 'As the protests stretch on, they have increasingly caught the attention of lawmakers.', 'On Tuesday, the White House said that Biden was “of course aware” of the pro-Palestinian protests at college campuses across the country.', '“We know that this is a painful moment for many communities, we respect that, and we support every American’s right to peacefully protest, that’s something that we have been consistent about,” White House Deputy Press Secretary Andrew Bates told reporters.', 'Bates also reiterated that the White House denounced calls for violence and antisemitic rhetoric.', 'Correction: An earlier version of this story incorrectly stated which day Columbia University announced it has extended negotiations with student activists.', 'The school announced the decision early Wednesday.', 'CNN’s Kate Sullivan, Samantha Delouya, Melanie Zanona, Taylor Romine, Omar Jimenez, Sara Smart, Matt Egan, Nic F. Anderson, Julia Jones, Isabel Rosales and Holly Yan contributed to report.']",-0.0741111005761501,"“I fully support the importance of free speech, respect the right to demonstrate, and recognize that many of the protestors have gathered peacefully,” Shafik said in a release late Tuesday evening. “","Tensions have escalated at many US universities since theOctober 7 terror attack on Israelby Hamas, which killed about 1,200 people and took others hostage, and Israel’s subsequent war on Hamas in Gaza, which has sincekilled tens of thousands of Palestinian civilians, according to the enclave’s health ministry.",-0.4892042577266693,"“Jewish students have had enough, and it’s gotten to the point that we feel safer off campus than on it,” he said.",But the editor-in-chief of Columbia’s student newspaper told CNN the negotiating parties seem to be struggling to find a middle ground.,2024-04-25
-These supersized clownfish robots could be coming to waterways in the Middle East,https://edition.cnn.com/2024/04/22/tech/water-security-aquaai-robots-spc/index.html,"
-  Published
-        7:27 AM EDT, Mon April 22, 2024
-    ","The world’s oceans, lakes and rivers are under mounting pressure from climate change, growing demand, urbanization, and pollution, threatening their ability to sustain life.
-    
-            Without better data to understand the health of increasingly stressed waterways, the fight to save these most precious of resources will be ineffective, says Simeon Pieterkosky, co-founder of the technology company Aquaai. “Virtually every waterway is polluted to an extent where the ecosystem just can’t balance back anymore,” he explains.
-    
-            Aquaai is aiming to fill that information gap using fishlike drones that collect data from underwater environments. Powered by batteries, they are designed to look and swim like fish, with a body and tail that swish from side-to-side as they cruise through the water. With their orange, white, and black neoprene skin, they resemble the clownfish star of the 2003 hit movie “Finding Nemo.”
-    
-            The standard version is about 4 feet long (1.3 meters) and weighs 65 pounds (30 kilograms) and can be equipped with cameras and sensors to measure metrics like oxygen, salinity and pH levels.
-    
-            Pieterkosky, who has a background in animatronics for horror movies, was motivated to build the robots after his eight-year-old daughter learned about the ocean crisis and asked him to help protect the seas. He says it’s important that the drones can integrate into natural habitats — swimming among other creatures without disturbing them and maneuvering around obstacles smoothly.
-    
-            The company has put its technology to use in California, where it was founded, and in Norway, where it has a subsidiary. It has operated in both fresh and saltwater, near dams, and in harbors and fish farms, checking things like water quality and fish health. Many fish farms use fixed sensors to monitor water quality, but CEO and co-founder Liane Thompson says this can be inefficient in giant pens, where fish might gather away from the sensors; instead Aquaai’s robots swim alongside the fish, collecting data wherever they go.
-    
-            The technology could also find a use in the Middle East, a region that is battling water scarcity. The Middle East and North Africa is home to just 1% of the world’s freshwater resources, and many countries are depleting water from underground reservoirs, largely to irrigate farmland.
-    
-            Thompson and Pieterkosky, who are married, have re-located to Abu Dhabi, the capital of the United Arab Emirates, and last October, Aquaai was accepted into a “company building” program at Abu Dhabi’s tech ecosystem Hub71.
-    
-            Thompson says its technology could be used in the region for water management, sustainable aquaculture operations, detecting derelict fishing gear and monitoring the health of corals. Aquaai is currently upgrading its underwater drones and is in discussions with various government agencies about trials to put the newest version to work.
-    
-            Thompson says that across the globe, water resources are typically monitored manually, which is slow, labor-intensive and may only provide sporadic data. She believes better automation is sorely needed.
-    
-            Automation “should play a crucial role in the future of water management by enhancing efficiency, reducing waste, and improving data collection for better decision-making,” said Robert C. Brears, the founder of water security platform Our Future Water, in an email.
-    
-            Brears, who is not involved with Aquaai, says the company’s drones are a non-invasive and cost-effective method for real-time data collection.
-    
-            Still, Aquaai has some hurdles to clear before its fishlike bots will be seen cruising through the world’s waterways. It has raised about $1.6 million in funding, but has been mostly relying on a few venture capital firms, an angel investor, family offices, a strategic corporate investor and paid trials. “We need capital to commercialize,” says Thompson, but “there are very few people who are willing to actually support those that are doing frontier technologies in the waterways.”
-    
-            Water tech received less than 3% of the $48 billion climate tech funding in 2023, according to the business database Dealroom.
-    
-            There are a smattering of other agencies and companies developing underwater drones for a variety of purposes. In 2021, a Chinese company debuted a sensor-filled robotic arowana fish at a military convention in Beijing, and some oil and gas companies use subsea drones to inspect their projects.
-    
-            Aquaai hopes more funding will follow. “Investors should absolutely wake up,” says Pieterkosky. “It’s really about a last-ditch effort to really save the thing that actually keeps humanity alive.”",CNN,22/04/2024,"['The world’s oceans, lakes and rivers are under mounting pressure from climate change, growing demand, urbanization, and pollution, threatening their ability to sustain life.', 'Without better data to understand the health of increasingly stressed waterways, the fight to save these most precious of resources will be ineffective, says Simeon Pieterkosky, co-founder of the technology company Aquaai. “', 'Virtually every waterway is polluted to an extent where the ecosystem just can’t balance back anymore,” he explains.', 'Aquaai is aiming to fill that information gap using fishlike drones that collect data from underwater environments.', 'Powered by batteries, they are designed to look and swim like fish, with a body and tail that swish from side-to-side as they cruise through the water.', 'With their orange, white, and black neoprene skin, they resemble the clownfish star of the 2003 hit movie “Finding Nemo.”', 'The standard version is about 4 feet long (1.3 meters) and weighs 65 pounds (30 kilograms) and can be equipped with cameras and sensors to measure metrics like oxygen, salinity and pH levels.', 'Pieterkosky, who has a background in animatronics for horror movies, was motivated to build the robots after his eight-year-old daughter learned about the ocean crisis and asked him to help protect the seas.', 'He says it’s important that the drones can integrate into natural habitats — swimming among other creatures without disturbing them and maneuvering around obstacles smoothly.', 'The company has put its technology to use in California, where it was founded, and in Norway, where it has a subsidiary.', 'It has operated in both fresh and saltwater, near dams,and in harbors and fish farms, checking things like water quality and fish health.', 'Many fish farms use fixed sensors to monitor water quality, but CEO and co-founder Liane Thompson says this can be inefficient in giant pens, where fish might gather away from the sensors; instead Aquaai’s robots swim alongside the fish, collecting data wherever they go.', 'The technology could also find a use in the Middle East, a region that is battling water scarcity.', 'The Middle East and North Africa is home to just 1% of the world’s freshwater resources, and many countries are depleting water from underground reservoirs, largely to irrigate farmland.', 'Thompson and Pieterkosky, who are married, have re-located to Abu Dhabi, the capital of the United Arab Emirates, and last October, Aquaai was accepted into a “company building” program at Abu Dhabi’s tech ecosystem Hub71.', 'Thompson says its technology could be used in the region for water management, sustainable aquaculture operations, detecting derelict fishing gear and monitoring the health of corals.', 'Aquaai is currently upgrading its underwater drones and is in discussions with various government agencies about trials to put the newest version to work.', 'Thompson says that across the globe, water resources are typically monitored manually, which is slow, labor-intensive and may only provide sporadic data.', 'She believes better automation is sorely needed.', 'Automation “should play a crucial role in the future of water management by enhancing efficiency, reducing waste, and improving data collection for better decision-making,” said Robert C. Brears, the founder of water security platform Our Future Water, in an email.', 'Brears, who is not involved with Aquaai, says the company’s drones are a non-invasive and cost-effective method for real-time data collection.', 'Still, Aquaai has some hurdles to clear before its fishlike bots will be seen cruising through the world’s waterways.', 'It has raised about $1.6 million in funding, but has been mostly relying on a few venture capital firms, an angel investor, family offices, a strategic corporate investor and paid trials. “', 'We need capital to commercialize,” says Thompson, but “there are very few people who are willing to actually support those that are doing frontier technologies in the waterways.”', 'Water tech received less than 3% of the $48 billion climate tech funding in 2023, according to the business database Dealroom.', 'There are a smattering of other agencies and companies developing underwater drones for a variety of purposes.', 'In 2021, a Chinese company debuted a sensor-filled robotic arowana fish at a military convention in Beijing, and some oil and gas companies use subsea drones to inspect their projects.', 'Aquaai hopes more funding will follow. “', 'Investors should absolutely wake up,” says Pieterkosky. “', 'It’s really about a last-ditch effort to really save the thing that actually keeps humanity alive.”']",0.1672187128349948,"Automation “should play a crucial role in the future of water management by enhancing efficiency, reducing waste, and improving data collection for better decision-making,” said Robert C. Brears, the founder of water security platform Our Future Water, in an email.","The world’s oceans, lakes and rivers are under mounting pressure from climate change, growing demand, urbanization, and pollution, threatening their ability to sustain life.",-0.4025170377322605,"Automation “should play a crucial role in the future of water management by enhancing efficiency, reducing waste, and improving data collection for better decision-making,” said Robert C. Brears, the founder of water security platform Our Future Water, in an email.","Without better data to understand the health of increasingly stressed waterways, the fight to save these most precious of resources will be ineffective, says Simeon Pieterkosky, co-founder of the technology company Aquaai. “",2024-04-25
-FTC investigating TikTok over privacy and security,https://edition.cnn.com/2024/03/26/tech/ftc-tiktok-probe-privacy-and-security/index.html,"
-  Updated
-        8:11 PM EDT, Tue March 26, 2024
-    ","The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.
-    
-            The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.
-    
-            The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.
-    
-            The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.
-    
-            The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources. Politico reported news of the probe earlier.
-    
-            When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”
-    
-            TikTok did not immediately respond to a request for comment.
-    
-            The FTC probe comes as TikTok faces an existential threat in the US. Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores. The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk. Senate leaders, however, have indicated they are taking a deliberate approach — which could lead to delays or even potentially doom the House bill.
-    
-            The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens. TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.
-    
-            Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands — a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk. To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.
-    
-            TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions. TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.",CNN,26/03/2024,"['The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.', 'The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.', 'The sources said that the FTC is probing TikTok over an alleged violation of the Children’s Online Privacy Protection rule, which requires companies to notify parents and obtain consent before collecting data from children under 13.', 'The agency is also investigating whether TikTok violated a portion of the FTC Act that prohibits “unfair or deceptive” business practices, the sources said, in denying that TikTok user data could be accessed by individuals in China.', 'The FTC could bring a suit against TikTok or settle with the company in the coming weeks, according to one of the sources.', 'Politico reported news of the probe earlier.', 'When asked about the investigation, FTC Director of Public Affairs Douglas Farrar replied: “No comment.”', 'TikTok did not immediately respond to a request for comment.', 'The FTC probe comes as TikTok faces an existential threat in the US.', 'Earlier this month, a bipartisan group in the US House of Representatives voted to pass a law forcing TikTok to be sold by ByteDance or face a ban from US app stores.', 'The bill is now before the Senate, and President Joe Biden has said he would sign it if it gets to his desk.', 'Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.', 'The short-form video company, owned by Chinese firm ByteDance, has denied assertions that its app poses a national security threat to US citizens.', 'TikTok, which does not operate in China, has said that the Chinese government has never accessed US user data.', 'Cybersecurity experts say Chinese laws require ByteDance to cooperate with that country’s intelligence demands—a fact that, given ByteDance’s ownership of TikTok, could hypothetically put US user data at risk.', 'To address that issue, TikTok has taken steps to store its US user data on cloud servers controlled by US tech giant Oracle and established internal protocols limiting access by non-US employees.', 'TikTok acknowledged to Congress in 2022 that employees based in China could access US user data, following a report that year by BuzzFeed News that ByteDance employees had accessed that information on multiple occasions.', 'TikTok CEO Shou Chew, in his first appearance before Congress last year, also acknowledged that several ByteDance employees were fired for spying on certain US journalists as part of a “misguided attempt” to hunt down leakers within the company.']",-0.232320081688102,"The Federal Trade Commission is investigating TikTok for its data and security practices, two sources told CNN on the condition of anonymity.","The probe is yet another complication for the social media platform, which is already facing the threat of a potential US ban or a forced divestment from its Chinese parent company.",-0.8880722284317016,,"Senate leaders, however, have indicated they are taking a deliberate approach —which could lead to delays or even potentially doom the House bill.",2024-04-24
-Digital humans: the relatable face of artificial intelligence?,https://edition.cnn.com/business/digital-humans-ai-dj-dex-spc/index.html,"
-  Published
-        5:33 AM EDT, Tue March 19, 2024
-    ","Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.
-    
-            However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.
-    
-            For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans. She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture. Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.
-    
-            “She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “You can ask her anything. She is a genius about music.”
-    
-            Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.
-    
-            For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications. The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.
-    
-            According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “It becomes natural.”
-    
-            Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.
-    
-            Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook. In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude. As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.
-    
-            US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.
-    
-            Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech. However, there are widespread concerns about the impact AI could have on the job market. 
-    
-            “When we rely on automated tools, what skills are we losing in the process?” asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “However, alongside, this fear of replacement is bubbling up more and more.”
-    
-            Harris, however, points to new opportunities within digital human design and development. “Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.
-    
-            “Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”",CNN,19/03/2024,"['Scrolling through the Instagram account of DJ and aspiring model Dex you’ll see her wearing new outfits, performing at shows around the world and chatting to her thousands of followers about her hobbies.', 'However, it’s clear that there is something different about Dex; she’s an entirely virtual “digital human,” designed by a startup in the UK.', 'For her performances, Dex is displayed on a video screen or as a holographic projection, with her mixes created by humans.', 'She is animated using Unreal Engine — a 3D modeling software widely used in video games — combined with motion-capture.', 'Generative artificial intelligence allows her to remember information and respond to questions, using a voice also generated by AI.', '“She’s probably one of the only digital humans in the performance space that you can have a conversation and interact with,” says Denise Harris, CCO of startup Sum Vivas. “', 'You can ask her anything.', 'She is a genius about music.”', 'Last month, Dex performed at Digital Fashion Weeks in New York, Paris and Milan, and she has modeled outfits by Prada and Louis Vuitton at digital fashion events.', 'For Liverpool-based Sum Vivas she’s a “showpiece” for more practical applications.', 'The company is now developing digital humans that can “listen” to people’s questions and converse in real time. “', 'Shellie” can provide product information as an avatar on company websites, while “Arif” is set to direct passengers and answer questions as a multilingual concierge on screens at airports.', 'According to CEO and founder Rob Sims, digital humans can help bridge the gap between AI technology and people. “', 'What we’ve found is when people start working with and conversing with a digital human, they very quickly suspend disbelief,” Sims tells CNN. “', 'It becomes natural.”', 'Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.', 'Record levels of investment into generative AI have followed, with over $21 billion poured into the industry during the first nine months of last year, according to data insights company Pitchbook.', 'In March 2023, Google launched Bard (recently renamed Gemini) and around the same time Anthropic released its AI assistant Claude.', 'As generative AI chatbots become increasingly ubiquitous, Sum Vivas is one of several companies looking to make them more human.', 'US and New Zealand-based UneeQ has developed animated conversational “digital humans” that can be used as virtual sales reps and customer service agents on company websites, and this month it debuted Sama 2.0, an animated cabin crew member that answers questions on Qatar Airways’ website and app.', 'Microsoft recently announced that users of its Azure software would be able to create lifelike avatars capable of turning text prompts into animated speech.', 'However, there are widespread concerns about the impact AI could have on the job market.', '“When we rely on automated tools, what skills are we losing in the process?”', 'asks Jennifer Ding, senior researcher at the Alan Turing Institute, the UK’s national institute for data science and artificial intelligence. “', 'In some ways, we think of AI as something that’s helping us or augmenting our work,” she says. “', 'However, alongside, this fear of replacement is bubbling up more and more.”', 'Harris, however, points to new opportunities within digital human design and development. “', 'Every scenario that we found, we’re creating jobs and working in harmony with people rather than taking away jobs,” she says.', '“Digital humans, first and foremost, should work with other human colleagues,” adds Sims. “', 'We’ll move into a stage where digital humans will start to become just another member of the team, with added benefits for that team, and obviously the customers they serve.”']",0.1214444180579973,"Since OpenAI’s ChatGPT was launched in November 2022, considerable hype has surrounded the potential of generative AI — artificial intelligence powered by huge datasets of information, capable of generating text outputs in a conversational way.","However, alongside, this fear of replacement is bubbling up more and more.”",0.2107271328568458,"Harris, however, points to new opportunities within digital human design and development. “","However, there are widespread concerns about the impact AI could have on the job market.",2024-04-24
-NBC News boss Cesar Conde faces backlash from his network’s anchors over ‘inexplicable’ decision to hire ex-RNC chair Ronna McDaniel,https://edition.cnn.com/2024/03/26/media/nbc-news-cesar-conde-ronna-mcdaniel-backlash/index.html,"
-  Published
-        8:05 AM EDT, Tue March 26, 2024
-    ","Cesar Conde has a decision to make — and it’s not an especially difficult one.
-    
-            The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.
-    
-            Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.” And they’re not doing it via anonymous comments to the press. They’re doing it on the record on NBCU’s own air. Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.
-    
-            Suffice to say, NBCU News Group is in unprecedented territory. Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion. Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year. It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.
-    
-            While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network. McDaniel’s hiring could not have happened without Conde’s blessing.
-    
-            It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it. Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.
-    
-            As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican. It’s not even that she is a Donald Trump-supporting Republican. It’s that she was an active participant in the plot to overthrow the last presidential election. That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.
-    
-            The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd. If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens. They too have their hands on the pulse of the Republican Party. In fact, they represent much more of where the GOP stands today than McDaniel. So, using NBC’s logic, why not hire them? (Spoiler: News organizations rightfully have established basic standards for paid contributors. Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)
-    
-            But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move. How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.
-    
-            Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted. It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring. If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.” The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.
-    
-            At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours. It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed. After all, which NBC or MSNBC program is going to invite her on after all of this?
-    
-            The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible. To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.
-    
-            But no such announcement came.
-    
-            Instead, Conde has allowed the mess to spiral absolutely out of control. MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire. NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.” The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.
-    
-            All the while, Conde has remained silent. I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation. Does he have any regret? I didn’t get an on-the-record response. Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values. It will also say a lot about the NBCU News Group and what type of organization it is.
-    
-            In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.
-    
-            “Mistakes will be made,” Maddow said.”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions. Hearing legitimate criticism, responding to it, and correcting course. Not digging in. Not blaming others. Take a minute. Acknowledge that maybe it wasn’t the right call.”
-    
-            “It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “It is a sign of strength. And our country needs us to be strong now.”",CNN,26/03/2024,"['Cesar Conde has a decision to make — and it’s not an especially difficult one.', 'The NBCUniversal News Group chair is facing a torrent of backlash from his own staff after greenlighting the hire of former Republican National Committee chair Ronna McDaniel as a paid network contributor.', 'Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”', 'And they’re not doing it via anonymous comments to the press.', 'They’re doing it on the record on NBCU’s own air.', 'Chuck Todd broke the dam on Sunday’s “Meet the Press” with a set of candid comments about the hiring, and Rachel Maddow capped the flood of backlash Monday night with a blistering 30-minute monologue eviscerating the network’s leadership for the “inexplicable” move.', 'Suffice to say, NBCU News Group is in unprecedented territory.', 'Never has a network’s C-suite ever been so thoroughly flogged by its most high-profile stars in such no holds barred fashion.', 'Saying that Conde simply has a crisis on his hands would be a contender for understatement of the year.', 'It’s a five-alarm fire at NBCU News Group, and one of Conde’s own making.', 'While NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown were most directly responsible for McDaniel’s hiring, a decision that MSNBC boss Rashida Jones did not object to it at the time, the buck ultimately stops with Conde, who hold the real power at the Peacock Network.', 'McDaniel’s hiring could not have happened without Conde’s blessing.', 'It does not take a brilliant political mind with prescient foresight to understand that hiring McDaniel would ignite a firestorm of outrage — from both within 30 Rock and outside it.', 'Conde, someone who ostensibly supports American democracy, should have rejected McDaniel’s hiring on the grounds that NBCU News Group could not put someone on its payroll who tried to subvert the 2020 vote.', 'As so many of NBCU’s staffers have underscored, the objection to McDaniel is not that she is a Republican.', 'It’s not even that she is a Donald Trump-supporting Republican.', 'It’s that she was an active participant in the plot to overthrow the last presidential election.', 'That is not to even mention McDaniel’s years of demonizing the press, smearing the journalists who work at NBC News and MSNBC as she sought to destroy the credibility of the organization that she ran to after being chased out of the RNC.', 'The notion put forward by NBC that it needed to hire McDaniel to bring its viewers “an insider’s perspective on national politics and the future of the Republican Party” is absurd.', 'If that’s the case, the network should move to hire free agents like Tucker Carlson or Candace Owens.', 'They too have their hands on the pulse of the Republican Party.', 'In fact, they represent much more of where the GOP stands today than McDaniel.', 'So, using NBC’s logic, why not hire them? (', 'Spoiler: News organizations rightfully have established basic standards for paid contributors.', 'Asking that your employees have a commitment to democracy, to the truth, and to basic decency is not a big ask.)', 'But even if Conde has no allegiance to basic democratic principles, which this hire calls into question, given that he is known to be a political player who cares deeply about his own image in the press, he should have been wise enough to foresee that hiring McDaniel would be an ill-conceived move.', 'How this did not occur to Conde is unfathomable and shows a tremendous lack of judgment.', 'Even more bizarre is Conde’s management, or lack thereof, since the controversy erupted.', 'It was clear early on that his employees at NBC News and MSNBC did not support McDaniel’s hiring.', 'If that was not evident on Friday, it was clear as day on Sunday after “Meet the Press.”', 'The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.', 'At that point, the writing should have been on the wall for Conde — as it was for every other media executive that I have spoken with over the last 24 hours.', 'It is evident that McDaniel has no real future as an NBC analyst and the decision to bring her on as a contributor will have to be reversed.', 'After all, which NBC or MSNBC program is going to invite her on after all of this?', 'The only real question for Conde after the Sunday morning scolding should have been how he chose to back out of the deal in the least painful way possible.', 'To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.', 'But no such announcement came.', 'Instead, Conde has allowed the mess to spiral absolutely out of control.', 'MSNBC’s top stars hammered the network’s leadership throughout the day Monday over the hire.', 'NBC News’ Guild blasted Conde, saying in a statement that under him the company had quietly laid off employees over the last month and instead chosen to “prioritize an election denier over its reporters.”', 'The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.', 'All the while, Conde has remained silent.', 'I asked his spokesperson, Stephen Labaton, on Monday whether the NBCU News Group boss had any comment on the situation.', 'Does he have any regret?', 'I didn’t get an on-the-record response.', 'Suffice to say, however, that what Conde does moving forward will say a lot about his character and commitment to democratic values.', 'It will also say a lot about the NBCU News Group and what type of organization it is.', 'In her biting monologue on Monday night, however, Maddow did offer Conde a way out of this mess.', '“Mistakes will be made,” Maddow said.', '”But our resilience as a democracy is going to be recognizing when decisions are bad ones and reversing those bad decisions.', 'Hearing legitimate criticism, responding to it, and correcting course.', 'Not digging in.', 'Not blaming others.', 'Take a minute.', 'Acknowledge that maybe it wasn’t the right call.”', '“It is a sign of strength, not weakness, to acknowledge when you are wrong,” Maddow added. “', 'It is a sign of strength.', 'And our country needs us to be strong now.”']",-0.032955005531589,"Over the last 24 hours, the most prominent and recognizable NBC News and MSNBC personalities have voiced strong displeasure with the company’s decision to welcome McDaniel to “the team.”",The already severe crisis was allowed to blossom into one of the worst corporate public relations catastrophes in recent memory.,-0.5018035081716684,"To be fully honest, I very much expected a Sunday evening announcement from NBC, one that would have earned praise from the company’s staff and quickly been swept away by the rush of Trump news Monday morning.","The network’s employees were not only flabbergasted and demoralized by the move, but absolutely enraged by it.",2024-04-24
-Opinion: The drama around Sam Altman is an urgent warning,https://edition.cnn.com/2023/11/21/opinions/sam-altman-openai-ouster-danger-filipovic/index.html,"
-  Published
-        9:50 AM EST, Tue November 21, 2023
-    ","The biggest tech news this week is the ouster of Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry. Hundreds of OpenAI employees have threatened to resign. Altman has already moved on to a role at Microsoft. And OpenAI, the company behind ChatGPT, is on its third CEO in as many days.
-    
-            It’s all very juicy. But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisions that will determine so much of our technological future? What guiding principles are they using to make those decisions? And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?
-    
-            OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.” But that sensibility hasn’t lasted. The company now has a multi-billion-dollar for-profit arm. They have been developing new technologies at lightning speed, and sometimes sending them out to the public before some employees believed they were ready. The company has already reportedly invented an AI technology so dangerous they will never release it – but they also won’t tell reporters or the public exactly what it is.
-    
-            This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing. The OpenAI board, according to CNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.” At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot. This could be widely disastrous, some board members worried.
-    
-            But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder. Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants. And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.
-    
-            AI is broadly understood to have the potential to reshape vast swaths of human existence. At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work). And the ramifications could be much more extreme. AI technologies have already demonstrated the ability to lie and to cover their tracks. They have already been able to suggest the design to make a virus spread more quickly. Many researchers acutely understand just how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans, according to reporting in the New Yorker.
-    
-            But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils – the Atlantic profile of Altman and his technology is worth a read).
-    
-            AI is very exciting technology. But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”
-    
-            Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed. And yet the development is being left to a handful of people (who seem to be largely men) in Silicon Valley, and other tech pockets around the globe. And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.
-    
-            Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden? Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?
-    
-            One thing is clear: AI is coming. And how it is built and unleashed on the public matters more than perhaps any technology of the past century. It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.
-    
-            “Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first. But regulation is, at minimum, a necessary step.
-    
-            So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition. But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.
-    
-            The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world. But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?",CNN,21/11/2023,"['The biggest tech news this week is theousterof Sam Altman from his role as CEO of OpenAI, a move that has shaken the company and the industry.', 'Hundreds of OpenAI employees have threatened toresign.', 'Altman has alreadymoved onto a role at Microsoft.', 'And OpenAI, the company behind ChatGPT, is on itsthird CEOin as many days.', 'It’s all very juicy.', 'But this drama should also be raising larger questions, far beyond one company’s internal hirings and firings, including: Who are the people making the decisionsthat will determine so much of our technological future?', 'What guiding principles are they using to make those decisions?', 'And how should other institutions – governments, non-tech industries, global alliances, regulatory bodies – reign in the worst excesses of potentially dangerous AI innovators?', 'OpenAI was founded as a nonprofit, with an explicit mission to harness what may soon be superhuman intelligence “to benefit humanity as a whole.”', 'But that sensibility hasn’t lasted.', 'The company now has a multi-billion-dollar for-profit arm.', 'They have been developing new technologies at lightning speed, and sometimes sending them out to the publicbefore some employees believed they were ready.', 'The company has already reportedly invented an AI technology so dangerous they will never release it – but they alsowon’t tellreporters or the public exactly what it is.', 'This dynamic – a potentially dangerous technology developed at extreme speed, largely behind closed doors – is partly to blame for Altman’s firing.', 'The OpenAI board, according toCNN’s David Goldman, worried that “the company was making the technological equivalent of a nuclear bomb, and its caretaker, Sam Altman, was moving so fast that he risked a global catastrophe.”', 'At particular issue seemed to be Altman’s efforts to make the tools behind ChatGPT available to anyone who wanted to make their own version of the chatbot.', 'This could be widely disastrous, some board members worried.', 'But then they fired him without warning, and apparently without involving Microsoft, the company’s largest shareholder.', 'Now, Altman is at the new AI group at Microsoft, and one has to wonder if the oversight and caution there will be on par with that at OpenAI, or if he’ll be handed carte blanche to push as fast and hard as he wants.', 'And for all the justified reticence of the OpenAI board, the company has carried out much of its work in secrecy – without the public really understanding what a handful of unaccountable technologists are building, and how it is nearly guaranteed to indelibly change their lives.', 'AI is broadly understood to have the potential to reshape vast swaths of human existence.', 'At the very least, it seems nearly guaranteed to change how we process information, how we communicate, how we learn and how we work (and if we work).', 'And the ramifications could be much more extreme.', 'AI technologies have already demonstrated the abilityto lie and to cover their tracks.', 'They have already been able tosuggest the designto make a virus spread more quickly.', 'Many researchersacutely understandjust how quickly these machines could develop the capacity to annihilate us, including Altman: He has a prepper’s paradise prepared in Big Sur, complete with guns and “gas masks from the Israeli Defense Force” in case AI goes off the rails and the robots go to war against humans,according to reporting in the New Yorker.', 'But don’t worry, he told an Atlantic reporter: If AI is determined to wipe us out, “no gas mask is helping anyone.” (', 'If you want an excellent and terrifying rundown of AI’s risks – at least those we understand right now, which are almost certainly a mere sliver of the looming perils –the Atlantic profile of Altman and his technologyis worth a read).', 'AI is very exciting technology.', 'But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”', 'Given the life-altering potential of AI – that even if it doesn’t kill us all, it will almost certainly change human existence in unprecedented ways at unprecedented speed – we all have a stake in how it’s being developed.', 'And yet the development is being left to a handful of people (who seem to belargelymen) in Silicon Valley, and other tech pockets around the globe.', 'And we all have a stake in whose interests AI will serve – and right now, its development is being funded with billions of dollars by people expecting to make a huge profit.', 'Do the interests of the public align with the interests of the shareholders to whom profit-driven, potentially tremendously lucrative-for-a-few companies are beholden?', 'Or with the interests of tech entrepreneurs who are primarily excited about being at the forefront of the AI revolution, regardless of the potential human costs?', 'One thing is clear: AI is coming.', 'And how it is built and unleashed on the public matters more than perhaps any technology of the past century.', 'It is, indeed, up there with the atom bomb in its destructive potential – except likely more difficult to regulate and control.', '“Regulation” does not begin to scratch the surface of what’s needed to make sure that the AI future is not a catastrophic one, especially since the development of AI is now a massive international arms race, with particularly horrific implications if bad actors develop this technology first.', 'But regulation is, at minimum, a necessary step.', 'So is transparency: In the US, companies have wide leverage to work behind a veil of secrecy, and much of what AI companies do is kept secret to stymy competition.', 'But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.', 'The Altman story is fascinating because Altman is the most powerful figure in AI technology, which in effect makes him one of the most powerful men in the world.', 'But that should give us pause: Who is he, what power does he hold, what is he doing with it, who does he answer to, and are we comfortable with this much life-altering potential being held by a few unaccountable people?']",0.0034737194649936,"But the public certainly has a right to understand what life-altering technologies are set to be inflicted upon us, and what the creators are doing to protect humanity – our jobs, our communities, our families, our connections, our educations and our abilities to build a life of purpose, but also our lives and our safety.","But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",-0.2999433577060699,AI technologies have already demonstrated the abilityto lie and to cover their tracks.,"But it is also a potentially very dangerous one, and not in the social media sense of “it may give us bad self-esteem and make us lonelier” but in the sense of “it could break down human societies and kill us all.”",2024-04-24
-Labor complaint reveals allegations of Boeing retaliation against two workers,https://edition.cnn.com/2024/04/23/business/boeing-investigation-labor-complaint-allegations-intl-hnk/index.html,"
-  Published
-        2:02 AM EDT, Wed April 24, 2024
-    ","A union representing Boeing engineers has alleged the plane maker retaliated against two employees who, at the time, were working on behalf of the Federal Aviation Administration (FAA) to provide manufacturing oversight.
-    
-            The allegations came to light in recent days after the Society of Professional Engineering Employees in Aerospace (SPEEA) filed a complaint with the National Labor Relations Board on behalf of one of the two engineers seeking to uncover a report from Boeing’s (BA) internal investigation into the incident which was filed with the FAA.
-    
-            The complaint and a press release issued Tuesday by the union describe how the two workers “insisted the company reevaluate prior engineering work on the 777 and 787 to account for a new FAA advisory” in 2022.
-    
-            SPEEA says Boeing initially pushed back against redoing the work before agreeing to do it, but then allegedly retaliated against the two in their performance reviews.
-    
-            The union says it is trying to appeal a decision not to change the performance evaluation of one of the workers. It said in the press release that “the other (worker) has quit Boeing over the way he was treated.”
-    
-            The complaint, dated April 18, says “these two employees received (identically) downgraded marks on the ‘Performance Values’” part of a performance review after raising their concerns. It goes on to say that one of the employees then “filed a ‘Speak Up Report’ to challenge this apparent retaliation.” Boeing then investigated the incident, but the union says the company would not provide it with a copy of the report.
-    
-            Boeing says the investigation was part of a confidential process and that the report could only be shared with the FAA.
-    
-            “We have zero tolerance for retaliation and encourage our employees to speak up when they see an issue. After an extensive review of documentation and interviewing more than a dozen witnesses, our investigators found no evidence of retaliation or interference. We have determined the allegations are unsubstantiated,” Boeing said in a statement.
-    
-            The FAA says it is investigating the situation.
-    
-            Last week, a Boeing whistleblower, Sam Salehpour, told congress he has concerns about the way Boeing has been fusing together its fuselages on the 787 and 777 and that he faced retaliation after raising the concerns.
-    
-            The complaint filed on behalf of the two engineers involves a different issue— the onboard computer networks on the planes. The union says Boeing managers “strongly objected” to rerunning calculations regarding the systems based on new assumptions, citing cost and production delays, but that Boeing ultimately agreed.
-    
-            “After nearly six months of debate, the two engineers, with backing from the FAA, prevailed. Boeing re-did the required analysis,” the press release says.
-    
-            The union says the negative performance reviews could harm the engineers when it comes to promotions or could subject them to layoffs.
-    
-            “Even after the manager of the two engineers admitted that he had rated them both poorly at the request of the 777 and 787 managers who had been forced to resubmit their work, Boeing refused to change the engineers’ performance evaluations,” the press release says.
-    
-            “Whether it’s capital R ‘Retaliation’ or not, the fact remains that the two ODA designated SPEEA members did the right thing and stuck to their guns despite heavy pressure from Boeing, and then got hit with career-damaging performance reviews. This helps show why Boeing doesn’t have a healthy safety culture,” SPEEA Director of Strategic Development Rich Plunkett said in the release.",CNN,24/04/2024,"['A union representing Boeing engineers has alleged the plane maker retaliated against two employees who, at the time, were working on behalf of the Federal Aviation Administration (FAA) to provide manufacturing oversight.', 'Theallegations came to light in recent days after theSociety of Professional Engineering Employees in Aerospace (SPEEA) filed a complaint with the National Labor Relations Boardon behalf of one of the twoengineersseeking to uncover a report from Boeing’s (BA) internal investigation into the incident which was filed with the FAA.', 'The complaint and a press release issued Tuesday by theuniondescribe how the two workers“insisted the company reevaluate prior engineering work on the 777 and 787 to account for a new FAA advisory” in 2022.', 'SPEEAsays Boeing initially pushed back against redoing the work before agreeing to do it, but then allegedly retaliated against the two in their performance reviews.', 'The unionsays it is trying to appeal a decisionnot to change the performance evaluationofone of the workers.', 'It said inthepress release that “the other (worker) has quit Boeing over the way he was treated.”', 'The complaint, dated April 18, says “these two employees received (identically) downgraded marks on the ‘Performance Values’” part of a performance review after raising their concerns.', 'It goes on to say that one of the employees then “filed a ‘Speak Up Report’ to challenge this apparent retaliation.”', 'Boeing then investigated the incident, but the union says the company would not provide it with a copy of the report.', 'Boeing says the investigation was part of a confidential process and that the report could only be shared with the FAA.', '“We have zero tolerance for retaliation and encourage our employees to speak up when they see an issue.', 'After an extensive review of documentation and interviewing more than a dozen witnesses, our investigators found no evidence of retaliation or interference.', 'We have determined the allegations are unsubstantiated,” Boeing said in a statement.', 'The FAA says it is investigating the situation.', 'Last week, a Boeing whistleblower, Sam Salehpour, told congress he has concerns about the way Boeing has been fusing together its fuselages on the 787 and 777 and that he faced retaliation after raising the concerns.', 'The complaint filed on behalf of the two engineers involves a different issue— the onboard computer networks on the planes.', 'The union says Boeing managers “strongly objected” to rerunning calculations regarding the systems based on new assumptions, citing cost and production delays, but that Boeing ultimately agreed.', '“After nearly six months of debate, the two engineers, with backing from the FAA, prevailed.', 'Boeing re-did the required analysis,” the press release says.', 'The union says the negative performance reviews could harm the engineers when it comes to promotions or could subject them to layoffs.', '“Even after the manager of the two engineers admitted that he had rated them both poorly at the request of the 777 and 787 managers who had been forced to resubmit their work, Boeing refused to change the engineers’ performance evaluations,” the press release says.', '“Whether it’s capital R ‘Retaliation’ or not, the fact remains that the two ODA designated SPEEA members did the right thing and stuck to their guns despite heavy pressure from Boeing, and then got hit with career-damaging performance reviews.', 'This helps show why Boeing doesn’t have a healthy safety culture,” SPEEA Director of Strategic Development Rich Plunkett said in the release.']",0.0020101979149933,"This helps show why Boeing doesn’t have a healthy safety culture,” SPEEA Director of Strategic Development Rich Plunkett said in the release.",The union says the negative performance reviews could harm the engineers when it comes to promotions or could subject them to layoffs.,-0.7477941458875482,"“After nearly six months of debate, the two engineers, with backing from the FAA, prevailed.","The complaint, dated April 18, says “these two employees received (identically) downgraded marks on the ‘Performance Values’” part of a performance review after raising their concerns.",2024-04-24
-California wants to crack down on Clear at the airport,https://edition.cnn.com/2024/04/24/business/clear-california-airports/index.html,"
-  Updated
-        11:09 PM EDT, Wed April 24, 2024
-    ","Clear is a service that lets people skip the security line at airports with nothing but a biometric scan and $189. Some California lawmakers want to make changes to it in the state, saying it separates travelers into haves and have-nots.
-    
-            California lawmakers voted 8-4 to move a bill out of the Senate Transportation Committee that would create a moratorium on Clear’s expansion at state airports. The bill has to be approved by the full California Senate and Assembly and signed by Gov. Gavin Newsom to become law.
-    
-            Clear, a publicly-traded security company, lets members jump the line at airports, sports, concerts and other venues. For $189 a year, Clear members can verify their identity at an airport kiosk using their biometric data, such as a face scan or fingerprint, without having to show their ID to a Transportation Security Administration agent. Once a traveler’s identity has been verified, the traveler is escorted by a Clear employee right to the front of a TSA security line.
-    
-            Line-skipping has created frustration and a feeling of unfairness among some other travelers who don’t have access to or can’t afford the price of the Clear membership. (The TSA’s PreCheck program, which is run by the government agency, costs $78 over five years.)
-    
-            “When it comes to making one’s way through airport security, the quality of that experience shouldn’t be contingent on a traveler’s income or willingness to pay,” Sen. Josh Newman, a Democrat who introduced the bill, said in a statement to CNN.
-    
-            Travelers who are not enrolled in Clear are “subject to the indignity of being shunted aside to make way for those who do,” Newman said. “This is inequitable, especially in light of the fact that it’s their tax dollars which fund airport security services in the first place.”
-    
-            Clear offers expedited service at nine airports in California. About 10% of California travelers are Clear members, according to a legislative analysis of the bill.
-    
-            But California lawmakers don’t want to end the program entirely. It’s more about the pain of watching someone else skip a line.
-    
-            The bill, which appears to be the first in the United States, won’t block Clear at California airports, Newman said. Instead, it seeks to have Clear and other third-party screening services operate separate lines for members.
-    
-            This would mean general passengers won’t have anyone cutting in front of them anymore, and Clear passengers can still fly through their dedicated security lane, he said.
-    
-            It also would prohibit airports from entering into new contracts with private companies like Clear if they use existing TSA security lines and screeners.
-    
-            The bill has support from the Association of Flight Attendants and a California branch of the American Federation of Government Employees representing TSA agents.
-    
-            But Clear, and major airlines like Delta, California airports, and business groups like the California Chamber of Commerce oppose the bill.
-    
-            Clear did not comment directly on the bill to CNN. But a Clear spokesperson said the company has created hundreds of jobs in the state, serves nearly 1 million California residents and contributed more than $13 million in revenue to state airports. Airports earn fees from leasing space to Clear.
-    
-            “We are always working with our airline and airport partners as well as local, state, and federal governments to ensure all travelers have a safer, easier checkpoint experience,” the spokesperson said.
-    
-            A legislative analysis of the bill conducted by the California Senate Transportation Committee said that if airports were to lose the revenue from Clear, they would make it up from other customers, such as car rental companies, concessionaires or airlines.
-    
-            It may also be difficult for airports or Clear to obtain dedicated TSA security lines and screeners, the analysis found, since TSA is a federal agency and is beyond the authority of the state. Increasing TSA staffing requires congressional approval.
-    
-            But Clear “may have some ability to persuade Congress on this,” the analysis found, by pushing the company to advocate for additional funding for TSA lanes and agents.",CNN,24/04/2024,"['Clear is a service that lets people skip the security line at airports with nothing but a biometric scan and $189.', 'Some California lawmakers want to make changes to it in the state, saying it separates travelers into haves and have-nots.', 'California lawmakers voted 8-4 to move a bill out of the Senate Transportation Committee that would create a moratorium on Clear’s expansion at state airports.', 'The bill has to be approved by the full California Senate and Assembly and signed by Gov. Gavin Newsom to become law.', 'Clear, a publicly-traded security company, lets members jump the line at airports, sports, concerts and other venues.', 'For $189 a year, Clear members can verify their identity at an airport kiosk using their biometric data, such as a face scan or fingerprint, without having to show their ID to a Transportation Security Administration agent.', 'Once a traveler’s identity has been verified, the traveler is escorted by a Clear employee right to the front of a TSA security line.', 'Line-skipping has created frustration and a feeling of unfairness among some other travelers who don’t have access to or can’t afford the price of the Clear membership. (', 'The TSA’s PreCheck program, which is run by the government agency, costs $78 over five years.)', '“When it comes to making one’s way through airport security, the quality of that experience shouldn’t be contingent on a traveler’s income or willingness to pay,” Sen. Josh Newman, a Democrat who introduced the bill, said in a statement to CNN.', 'Travelers who are not enrolled in Clear are “subject to the indignity of being shunted aside to make way for those who do,” Newman said. “', 'This is inequitable, especially in light of the fact that it’s their tax dollars which fund airport security services in the first place.”', 'Clear offers expedited service at nine airports in California.', 'About 10% of California travelers are Clear members, according to a legislative analysis of the bill.', 'But California lawmakers don’t want to end the program entirely.', 'It’s more about the pain of watching someone else skip a line.', 'The bill, which appears to be the first in the United States, won’t block Clear at California airports, Newman said.', 'Instead, it seeks to have Clear and other third-party screening services operate separate lines for members.', 'This would mean general passengers won’t have anyone cutting in front of them anymore, and Clear passengers can still fly through their dedicated security lane, he said.', 'It also would prohibit airports from entering into new contracts with private companies like Clear if they use existing TSA security lines and screeners.', 'The bill has support from the Association of Flight Attendants and a California branch of the American Federation of Government Employees representing TSA agents.', 'But Clear, and major airlines like Delta, California airports, and business groups like the California Chamber of Commerce oppose the bill.', 'Clear did not comment directly on the bill to CNN.', 'But a Clear spokesperson said the company has created hundreds of jobs in the state, serves nearly 1 million California residents and contributed more than $13 million in revenue to state airports.', 'Airports earn fees from leasing space to Clear.', '“We are always working with our airline and airport partners as well as local, state, and federal governments to ensure all travelers have a safer, easier checkpoint experience,” the spokesperson said.', 'A legislative analysis of the bill conducted by the California Senate Transportation Committee said that if airports were to lose the revenue from Clear, they would make it up from other customers, such as car rental companies, concessionaires or airlines.', 'It may also be difficult for airports or Clear to obtain dedicated TSA security lines and screeners, the analysis found, since TSA is a federal agency and is beyond the authority of the state.', 'Increasing TSA staffing requires congressional approval.', 'But Clear “may have some ability to persuade Congress on this,” the analysis found, by pushing the company to advocate for additional funding for TSA lanes and agents.']",0.413489946903226,"But Clear, and major airlines like Delta, California airports, and business groups like the California Chamber of Commerce oppose the bill.",It’s more about the pain of watching someone else skip a line.,-0.1250895091465541,"But a Clear spokesperson said the company has created hundreds of jobs in the state, serves nearly 1 million California residents and contributed more than $13 million in revenue to state airports.",Line-skipping has created frustration and a feeling of unfairness among some other travelers who don’t have access to or can’t afford the price of the Clear membership. (,2024-04-24
-How Chinese firms are using Mexico as a backdoor to the US,https://www.bbc.co.uk/news/business-68825118,2024-04-21T23:01:19.000Z,"The reclining armchairs and plush leather sofas coming off the production line at Man Wah Furniture's factory in Monterrey are 100% ""Made in Mexico"".  They're destined for large retailers in the US, like Costco and Walmart. But the company is from China, its Mexican manufacturing plant built with Chinese capital. The triangular relationship between the US, China and Mexico is behind the buzzword in Mexican business: nearshoring. Man Wah is one of scores of Chinese companies to relocate to industrial parks in northern Mexico in recent years, to bring production closer to the US market. As well as saving on shipping, their final product is considered completely Mexican - meaning Chinese firms can avoid the US tariffs and sanctions imposed on Chinese goods amid the continuing trade war between the two countries. As the company's general manager, Yu Ken Wei, shows me around its vast site, he says the move to Mexico has made economic and logistical sense. ""We hope to triple or even quadruple production here,"" he says in perfect Spanish. ""The intention here in Mexico is to bring production up to the level of our operation in Vietnam."" The firm only arrived in the city of Monterrey in 2022, but already employs 450 people in Mexico. Yu Ken Wei says they hope to grow to more than 1,200 employees, operating several new lines at the plant in the coming years. ""People here in Mexico are very hardworking and fast learners,"" says Mr Yu. ""We've got good operators, and their productivity is high. So, on the labour side, I think Mexico is strategically very good too."" Certainly, nearshoring is considered to be providing an important shot in the arm to the Mexican economy - by June of last year, Mexico's total exports had risen 5.8% from a year earlier to $52.9bn (£42.4bn). The trend is showing few signs of slowing down. In just two months of this year, there were announcements of capital investment in Mexico of almost half of the annual total back in 2020. The Man Wah sofa factory is located inside Hofusan, a Chinese-Mexican industrial park. Demand for its plots is sky high: every available space has been sold. In fact, the Industrial Parks Association of Mexico say every site due to be built in the country by 2027 has already been bought up. Little wonder many Mexican economists say China's interest in the country is no passing fad. ""The structural reasons that are bringing capital to Mexico are here to stay,"" says Juan Carlos Baker Pineda, Mexico's former vice-minister for external trade. ""I have no indication that the trade war between China and the US is going to diminish any time soon."" Mr Baker Pineda was part of Mexico's negotiating team for the new North American free trade agreement, USMCA. ""While the Chinese origin of the capital coming into Mexico may be uncomfortable for the policies of some countries,"" he says, ""according to international trade legislation, those products are, to all intents and purposes, Mexican"". That has given Mexico an obvious strategic foothold between the two superpowers: Mexico recently replaced China as the US's main trading partner, a significant and symbolic change. Mexico's increased trade with the US has also come about in part through a second key aspect of nearshoring in the country: US firms setting up Mexican facilities too, sometimes after relocating production from factories in Asia. Perhaps the standout announcement came from Elon Musk last year, when he unveiled plans for a new Tesla Gigafactory outside Monterrey. However, the electric car company is yet to break ground on the $10bn plant. And, while Tesla is apparently still committed to the project, it has slowed its plans amid concerns over the global economy, and recent job cuts at the carmaker. But regarding Chinese investment, some urge caution over Mexico being drawn into the wider geopolitical struggle between the US and China. ""The old rich guy in town, the US, is having problems with the new rich guy in town, China,"" says Enrique Dussel of the Centre for China-Mexico Studies at the National Autonomous University in Mexico. ""And Mexico - under previous administrations, and in this one - doesn't have a strategy vis-à-vis this new triangular relationship."" With elections looming on both sides of the US-Mexico border, there may be new political considerations ahead. But whether it's Donald Trump or Joe Biden in the White House over the next four years, few expect any improvement in US-China relations. Mr Dussel thinks nearshoring is better defined by what he calls ""security-shoring"", saying Washington has placed national security concerns above all other factors in its relationship with China. Mexico, he argues, must be wary of being caught in the middle. Amid this tension, Mr Dussel says: ""Mexico is putting up a big sign to China saying: 'Welcome to Mexico!'. You don't need a PhD to know that this isn't going to end well for bilateral relations between the US and Mexico in the medium term,"" he adds. Others are more optimistic. ""In my mind, the question is not if this trend will continue, but rather how much of this trend can we take advantage of,"" says former Mexican trade official, Juan Carlos Baker Pineda. ""I'm sure people are having these same discussions in Colombia, in Vietnam, in Costa Rica. So, we need to make sure in Mexico that those conditions that are aligned by themselves go hand-in-hand with corporate and government decisions to sustain that trend in the long term."" Back in Monterrey, the talented Mexican seamstresses at Man Wah Furniture put the finishing touches to another sofa before it's shipped north. When an American family buys it at a Walmart store near them, they may have little idea of the complex geopolitics underpinning its production. But whether nearshoring is a clever back door to the US, or part of a costly war between superpowers, it's currently Mexico's key advantage in these hostile times of global trade. ",BBC,21/04/2024,"['The reclining armchairs and plush leather sofas coming off the production line at Man Wah Furniture\'s factory in Monterrey are 100% ""Made in Mexico"".', ""They're destined for large retailers in the US, like Costco and Walmart."", 'But the company is from China, its Mexican manufacturing plant built with Chinese capital.', 'The triangular relationship between the US, China and Mexico is behind the buzzword in Mexican business: nearshoring.', 'Man Wah is one of scores of Chinese companies to relocate to industrial parks in northern Mexico in recent years, to bring production closer to the US market.', 'As well as saving on shipping, their final product is considered completely Mexican - meaning Chinese firms can avoid the US tariffs and sanctions imposed on Chinese goods amid the continuing trade war between the two countries.', 'As the company\'s general manager, Yu Ken Wei, shows me around its vast site, he says the move to Mexico has made economic and logistical sense. ""', 'We hope to triple or even quadruple production here,"" he says in perfect Spanish. ""', 'The intention here in Mexico is to bring production up to the level of our operation in Vietnam.""', 'The firm only arrived in the city of Monterrey in 2022, but already employs 450 people in Mexico.', 'Yu Ken Wei says they hope to grow to more than 1,200 employees, operating several new lines at the plant in the coming years. ""', 'People here in Mexico are very hardworking and fast learners,"" says Mr Yu. ""', ""We've got good operators, and their productivity is high."", 'So, on the labour side, I think Mexico is strategically very good too.""', ""Certainly, nearshoring is considered to be providing an important shot in the arm to the Mexican economy - by June of last year, Mexico's total exports had risen 5.8% from a year earlier to $52.9bn (£42.4bn)."", 'The trend is showing few signs of slowing down.', 'In just two months of this year, there were announcements of capital investment in Mexico of almost half of the annual total back in 2020.', 'The Man Wah sofa factory is located inside Hofusan, a Chinese-Mexican industrial park.', 'Demand for its plots is sky high: every available space has been sold.', 'In fact, the Industrial Parks Association of Mexico say every site due to be built in the country by 2027 has already been bought up.', 'Little wonder many Mexican economists say China\'s interest in the country is no passing fad. ""', 'The structural reasons that are bringing capital to Mexico are here to stay,"" says Juan Carlos Baker Pineda, Mexico\'s former vice-minister for external trade. ""', 'I have no indication that the trade war between China and the US is going to diminish any time soon.""', 'Mr Baker Pineda was part of Mexico\'s negotiating team for the new North American free trade agreement, USMCA. ""', 'While the Chinese origin of the capital coming into Mexico may be uncomfortable for the policies of some countries,"" he says, ""according to international trade legislation, those products are, to all intents and purposes, Mexican"".', ""That has given Mexico an obvious strategic foothold between the two superpowers: Mexico recently replaced China as the US's main trading partner, a significant and symbolic change."", ""Mexico's increased trade with the US has also come about in part through a second key aspect of nearshoring in the country: US firms setting up Mexican facilities too, sometimes after relocating production from factories in Asia."", 'Perhaps the standout announcement came from Elon Musk last year, when he unveiled plans for a new Tesla Gigafactory outside Monterrey.', 'However, the electric car company is yet to break ground on the $10bn plant.', 'And, while Tesla is apparently still committed to the project, it has slowed its plans amid concerns over the global economy, and recent job cuts at the carmaker.', 'But regarding Chinese investment, some urge caution over Mexico being drawn into the wider geopolitical struggle between the US and China. ""', 'The old rich guy in town, the US, is having problems with the new rich guy in town, China,"" says Enrique Dussel of the Centre for China-Mexico Studies at the National Autonomous University in Mexico. ""', 'And Mexico - under previous administrations, and in this one - doesn\'t have a strategy vis-à-vis this new triangular relationship.""', 'With elections looming on both sides of the US-Mexico border, there may be new political considerations ahead.', ""But whether it's Donald Trump or Joe Biden in the White House over the next four years, few expect any improvement in US-China relations."", 'Mr Dussel thinks nearshoring is better defined by what he calls ""security-shoring"", saying Washington has placed national security concerns above all other factors in its relationship with China.', 'Mexico, he argues, must be wary of being caught in the middle.', 'Amid this tension, Mr Dussel says: ""Mexico is putting up a big sign to China saying: \'Welcome to Mexico!\'.', 'You don\'t need a PhD to know that this isn\'t going to end well for bilateral relations between the US and Mexico in the medium term,"" he adds.', 'Others are more optimistic. ""', 'In my mind, the question is not if this trend will continue, but rather how much of this trend can we take advantage of,"" says former Mexican trade official, Juan Carlos Baker Pineda. ""', ""I'm sure people are having these same discussions in Colombia, in Vietnam, in Costa Rica."", 'So, we need to make sure in Mexico that those conditions that are aligned by themselves go hand-in-hand with corporate and government decisions to sustain that trend in the long term.""', ""Back in Monterrey, the talented Mexican seamstresses at Man Wah Furniture put the finishing touches to another sofa before it's shipped north."", 'When an American family buys it at a Walmart store near them, they may have little idea of the complex geopolitics underpinning its production.', ""But whether nearshoring is a clever back door to the US, or part of a costly war between superpowers, it's currently Mexico's key advantage in these hostile times of global trade.""]",0.1334564431334854,"So, we need to make sure in Mexico that those conditions that are aligned by themselves go hand-in-hand with corporate and government decisions to sustain that trend in the long term.""","I have no indication that the trade war between China and the US is going to diminish any time soon.""",0.4539865482421148,"Certainly, nearshoring is considered to be providing an important shot in the arm to the Mexican economy - by June of last year, Mexico's total exports had risen 5.8% from a year earlier to $52.9bn (£42.4bn).","And, while Tesla is apparently still committed to the project, it has slowed its plans amid concerns over the global economy, and recent job cuts at the carmaker.",2024-04-24
-Calls grow for Columbia University president to step down as protests spread nationwide,https://edition.cnn.com/2024/04/23/business/columbia-yale-colleges-universities-protests/index.html,"
-  Updated
-        8:06 PM EDT, Wed April 24, 2024
-    ","National political leaders ratcheted up the pressure for Columbia University President Minouche Shafik to step down on Wednesday as pro-Palestinian protests continued at the school’s New York campus and spread to colleges across the country.
-    
-            The escalation comes as months of student-led demonstrations against the war in Gaza have brought national and international attention to America’s higher-education system.
-    
-            The growing unrest on college campuses, along with a rise in antisemitism, has led to numerous congressional hearings and, at least in part, to the resignation of two Ivy League presidents – Claudine Gay at Harvard University and Liz Magill at the University of Pennsylvania.
-    
-            Republican Speaker of the House Mike Johnson visited Columbia University’s campus to call for yet another resignation on Wednesday afternoon.
-    
-            “I am here today joining my colleagues and calling on President Shafik to resign if she could not immediately bring order to this chaos,” Johnson said during a tense press conference where the crowd repeatedly interrupted the speaker and at times loudly booed him and other GOP lawmakers who were with him.
-    
-            At the University of Texas at Austin, meanwhile, state troopers in riot gear, including some on horseback, began breaking up a group of protesters shortly after a demonstration on Wednesday.
-    
-            The Palestine Solidarity Committee in Austin organized a walkout and occupation on the school’s south lawn. According to an Instagram post announcing the event, students were encouraged to bring “blankets, food and water, face masks, and lots of energy.”
-    
-            Columbia notified students and faculty Wednesday morning that the hybrid model for classes, meant to ensure student safety, will extend to final exams.
-    
-            Provost Angela Olinto said in an email that all final course assessments, including exams, presentations and projects, “must include a remote option for students who have requested support for virtual assessment.” The move was made “in order to address the concerns of our members in an evolving campus environment,” Olinto wrote.
-    
-            The university earlier in the day said it has extended negotiations with student activists over the dismantling of their pro-Palestinian encampment that has highlighted schools’ divestment practices and prompted solidarity protests at colleges across the country.
-    
-            That statement came early Wednesday morning – just hours after Columbia’s president announced it had given protesters a midnight deadline to reach an agreement or the university would consider “alternative options” to clear the encampment. The talks will now be extended another 48 hours after “important progress” was made, the spokesperson said.
-    
-            Protesters have said they won’t disperse until the university agrees to cut ties with Israeli academic institutions and commits to a “complete divestment” of Columbia’s funds from entities connected to Israel, among other demands. But the editor-in-chief of Columbia’s student newspaper told CNN the negotiating parties seem to be struggling to find a middle ground.
-    
-            “There seems to be very little room in terms of where the university wants to meet the students and the students want to meet with the university,” Isabella Ramirez, editor-in-chief of the Columbia Spectator, said Tuesday night. “It doesn’t seem that there’s much room in terms of compromise.”
-    
-            Student organizers released a statement shortly after midnight, saying their representatives left the negotiations Tuesday after the university threatened to call in police and the National Guard if protesters “do not acquiesce to their demands.”
-    
-            Susan Ellingwood, associate vice president of public affairs at Columbia told CNN: “Deploying the National Guard was never on the table.”
-    
-            Live updates: Protests at Columbia and other schools enter a second week 
-    
-            House Speaker Mike Johnson also said on Wednesday that he will call on Columbia President Shafik to resign when he is set to join Jewish students on campus, followed by a press conference.
-    
-            While on campus Wednesday, Johnson will have a meal with Jewish students before the event. He will be joined by New York Reps. Mike Lawler, Nicole Malliotakis and others in the New York GOP delegation. “We’re relying on and calling upon and demanding these university officials to control of the situation which is just completely out of control right now,” Johnson said.
-    
-            The university’s commencement ceremony is scheduled for Wednesday, May 15. Currently, the student protestors on the West Lawn are camping in a space that is utilized during commencement.
-    
-            Tensions have escalated at many US universities since the October 7 terror attack on Israel by Hamas, which killed about 1,200 people and took others hostage, and Israel’s subsequent war on Hamas in Gaza, which has since killed tens of thousands of Palestinian civilians, according to the enclave’s health ministry.
-    
-            As the protests stretch into their eighth day, President Shafik has faced criticism from donors and lawmakers who believe police should be brought in to clear the encampment and restore order on campus – even as students and faculty condemn the president’s similar decision last week to ask the New York Police Department to clear another student encampment.
-    
-            More than 80 tents packed the lawn prior to the deadline late Tuesday night as hundreds of people buzzed in and around the encampment. The university said student protesters had “committed to dismantling and removing a significant number of tents” and agreed that people not affiliated with the university will leave the encampment.
-    
-            Student activists “have taken steps to make the encampment welcome to all and have prohibited discriminatory or harassing language,” the university said.
-    
-            Days of unrest on campus, as well as gatherings of non-student protesters outside the university’s gates, have led to safety concerns among Jewish students and prompted Columbia to move to mostly hybrid classes on its main campus for the rest of the semester.
-    
-            “I fully support the importance of free speech, respect the right to demonstrate, and recognize that many of the protestors have gathered peacefully,” Shafik said in a release late Tuesday evening. “However, the encampment raises serious safety concerns, disrupts campus life, and has created a tense and at times hostile environment for many members of our community.”
-    
-            Tensions are high, especially as Jewish students, faculty and staff celebrate the Passover holiday. Elected officials from the mayor of New York through President Joe Biden have commented, with leaders of the House of Representatives issuing statements on both sides of the aisle.
-    
-            House Speaker Mike Johnson said he planned to visit Jewish students at Columbia on Wednesday and hold a news conference “regarding the troubling rise of virulent antisemitism on America’s college campuses,” according to his office.
-    
-            Students across the United States have been protesting in support of Palestinians in Gaza and in solidarity with students who were suspended at Columbia this past week.
-    
-            As the national spotlight has fallen on Columbia, similar encampments are growing at other schools, and officials nationwide are grappling with a response to what has become a coast-to-coast disruption.
-    
-            Pro-Palestinian encampments have been set up at the Massachusetts Institute of Technology, Emerson College, the University of California, Berkeley and the University of Michigan.
-    
-            Arrests have been made at other campuses across the US as well. More than 100 students from Columbia University and Barnard College were arrested last Thursday. Barnard President Lisa Rosenbury confirmed in a statement Monday that students on interim suspension “no longer have access to most Barnard buildings.”
-    
-            More 130 people were arrested at New York University at a pro-Palestinian protest Monday night. NYU said it asked for help from the NYPD after school officials said there were “intimidating chants and several antisemitic incidents” during a protest. That led to scenes of a chaotic confrontation between protesters and police in full riot gear. An NYPD official said the demonstrations weren’t violent overall, except for a few bottles thrown at police officers.
-    
-            Yale University police arrested at least 45 protesters Monday and charged them with criminal trespassing after they refused orders to leave, said police in New Haven, Connecticut, though dozens of protesters remained Tuesday morning.
-    
-            Harvard University has closed Harvard Yard and officials at the university suspended a pro-Palestinian student organization for allegedly violating school policies.
-    
-            And nine people were arrested Tuesday morning at the University of Minnesota’s Twin Cities campus after they formed an encampment that went against school policy.
-    
-            Students, faculty and staff at the University of New Mexico peacefully protested Monday in support of Gaza, the university said in a statement Tuesday.
-    
-            Activists at Columbia said they want a “complete divestment” from anything related to Israel, financial transparency into the university’s investments and amnesty from any disciplinary measures for students participating in the protests.
-    
-            University officials warned earlier Tuesday that the encampment is violating school rules but did not provide specific disciplinary consequences. New York City Mayor Eric Adams said Tuesday authorities have identified “outside agitators” causing problems at the mostly peaceful student protests at Columbia, NYU and other schools in the city.
-    
-            The encampment at Columbia University was lively early this week, with many students congregating in circles, eating and talking.
-    
-            A group of Jewish and non-Jewish students gathered at the encampment to celebrate Passover Seder Monday night. Columbia student Cameron Jones told CNN: “I am Jewish and, to me, Passover symbolizes perseverance and resilience. I think this encampment represents those two ideals because we have seen the university take countless measures to try to suppress our student activism, and here is us persevering through that.”
-    
-            But some other Jewish students say they fear for their safety. Jacob Schmeltz, a senior at Columbia, told CNN he typically celebrated Passover on campus, but has chosen to go home for the holiday this year.
-    
-            “Jewish students have had enough, and it’s gotten to the point that we feel safer off campus than on it,” he said.
-    
-            As the protests stretch on, they have increasingly caught the attention of lawmakers. On Tuesday, the White House said that Biden was “of course aware” of the pro-Palestinian protests at college campuses across the country.
-    
-            “We know that this is a painful moment for many communities, we respect that, and we support every American’s right to peacefully protest, that’s something that we have been consistent about,” White House Deputy Press Secretary Andrew Bates told reporters.
-    
-            Bates also reiterated that the White House denounced calls for violence and antisemitic rhetoric.
-    
-            Correction: An earlier version of this story incorrectly stated which day Columbia University announced it has extended negotiations with student activists. The school announced the decision early Wednesday.
-    
-            CNN’s Kate Sullivan, Samantha Delouya, Melanie Zanona, Taylor Romine, Omar Jimenez, Sara Smart, Matt Egan, Nic F. Anderson, Julia Jones, Isabel Rosales and Holly Yan contributed to report.",CNN,24/04/2024,"['National political leaders ratcheted up the pressure for Columbia University President Minouche Shafik to step down on Wednesday as pro-Palestinian protests continued at the school’s New York campus and spread to colleges across the country.', 'The escalation comes as months of student-led demonstrations against the war in Gaza have brought national and international attention to America’s higher-education system.', 'The growing unrest on college campuses, along with a rise in antisemitism, has led to numerous congressional hearings and, at least in part, to the resignation of two Ivy League presidents – Claudine Gay at Harvard University and Liz Magill at the University of Pennsylvania.', 'Republican Speaker of the House Mike Johnson visited Columbia University’s campus to call for yet another resignation on Wednesday afternoon.', '“I am here today joining my colleagues and calling on President Shafik to resign if she could not immediately bring order to this chaos,” Johnson said during a tense press conference where the crowd repeatedly interrupted the speaker and at times loudly booed him and other GOP lawmakers who were with him.', 'At the University of Texas at Austin, meanwhile, state troopers in riot gear, including some on horseback, began breaking up a group of protesters shortly after ademonstration on Wednesday.', 'The Palestine Solidarity Committee in Austin organized a walkout and occupation on the school’s south lawn.', 'According to an Instagrampostannouncing the event, students were encouraged to bring “blankets, food and water, face masks, and lots of energy.”', 'Columbia notified students and faculty Wednesday morning that the hybrid model for classes, meant to ensure student safety, will extend to final exams.', 'Provost Angela Olinto said in an email that all final course assessments, including exams, presentations and projects, “must include a remote option for students who have requested support for virtual assessment.”', 'The move was made “in order to address the concerns of our members in an evolving campus environment,” Olinto wrote.', 'The university earlier in the day said it has extended negotiations with student activists over the dismantling of their pro-Palestinian encampment that has highlighted schools’ divestment practices and prompted solidarity protests at colleges across the country.', 'That statement came early Wednesday morning – just hours after Columbia’s president announced it had given protesters a midnight deadline to reach an agreement or the university would consider “alternative options” to clear the encampment.', 'The talks will now be extended another 48 hours after “important progress” was made, the spokesperson said.', 'Protesters have said they won’t disperse until the university agrees to cut ties with Israeli academic institutions and commits to a “complete divestment” of Columbia’s funds from entities connected to Israel, among other demands.', 'But the editor-in-chief of Columbia’s student newspaper told CNN the negotiating parties seem to be struggling to find a middle ground.', '“There seems to be very little room in terms of where the university wants to meet the students and the students want to meet with the university,” Isabella Ramirez, editor-in-chief of the Columbia Spectator, said Tuesday night. “', 'It doesn’t seem that there’s much room in terms of compromise.”', 'Student organizers released a statement shortly after midnight, saying their representatives left the negotiations Tuesday after the university threatened to call in police and the National Guard if protesters “do not acquiesce to their demands.”', 'Susan Ellingwood, associate vice president of public affairs at Columbia told CNN: “Deploying the National Guardwas neveron the table.”', 'Live updates: Protests at Columbia and other schools enter a second week   House Speaker Mike Johnson also said on Wednesday that he will call on Columbia President Shafik to resign when he is set to join Jewish students on campus, followed by a press conference.', 'While on campus Wednesday, Johnson will have a meal with Jewish students before the event.', 'He will be joined by New York Reps.', 'Mike Lawler, Nicole Malliotakis and others in the New York GOP delegation. “', 'We’re relying on and calling upon and demanding these university officials to control of the situation which is just completely out of control right now,” Johnson said.', 'The university’s commencement ceremony is scheduled for Wednesday, May 15.', 'Currently, the student protestors on the West Lawn are camping in a space that is utilized during commencement.', 'Tensions have escalated at many US universities since theOctober 7 terror attack on Israelby Hamas, which killed about 1,200 people and took others hostage, and Israel’s subsequent war on Hamas in Gaza, which has sincekilled tens of thousands of Palestinian civilians, according to the enclave’s health ministry.', 'As the protests stretch into their eighth day, President Shafik has faced criticism from donors and lawmakers who believe police should be brought in to clear the encampment and restore order on campus – even as students and faculty condemn the president’s similar decision last week to ask the New York Police Department to clear another student encampment.', 'More than 80 tents packed the lawn prior to the deadline late Tuesday night as hundreds of people buzzed in and around the encampment.', 'The university said student protesters had “committed to dismantling and removing a significant number of tents” and agreed that people not affiliated with the university will leave the encampment.', 'Student activists “have taken steps to make the encampment welcome to all and have prohibited discriminatory or harassing language,”the university said.', 'Days of unrest on campus, as well as gatherings of non-student protesters outside the university’s gates, have led to safety concerns among Jewish students and prompted Columbia to move to mostly hybrid classeson its main campus for the rest of the semester.', '“I fully support the importance of free speech, respect the right to demonstrate, and recognize that many of the protestors have gathered peacefully,” Shafik said in a release late Tuesday evening. “', 'However, the encampment raises serious safety concerns, disrupts campus life, and has created a tense and at times hostile environment for many members of our community.”', 'Tensions are high, especially as Jewish students, faculty and staff celebrate the Passover holiday.', 'Elected officials from the mayor of New York through President Joe Biden have commented, with leaders of the House of Representatives issuing statements on both sides of the aisle.', 'House Speaker Mike Johnson said he planned to visit Jewish students at Columbia on Wednesday and hold a news conference “regarding the troubling rise of virulent antisemitism on America’s college campuses,” according to his office.', 'Students across the United States have been protesting in support of Palestinians in Gaza and in solidarity with students who were suspended at Columbia this past week.', 'As the national spotlight has fallen on Columbia, similar encampments are growing at other schools, and officials nationwide are grappling with a response to what has become a coast-to-coast disruption.', 'Pro-Palestinian encampments have been set up at theMassachusetts Institute of Technology, Emerson College, the University of California, Berkeley and the University of Michigan.', 'Arrests have been made at other campuses across the US as well.', 'More than 100 students from Columbia University and Barnard College were arrested last Thursday.', 'Barnard President Lisa Rosenbury confirmed in astatementMonday that students on interim suspension “no longer have access to most Barnard buildings.”', 'More 130 people were arrested at New York University at a pro-Palestinian protest Monday night.', 'NYU said it asked for help from the NYPD after school officials said there were “intimidating chants and several antisemitic incidents” during a protest.', 'That led to scenes of a chaotic confrontation between protesters and police in full riot gear.', 'An NYPD official said the demonstrations weren’t violent overall, except for a few bottles thrown at police officers.', 'Yale University police arrested at least 45 protesters Monday and charged them with criminal trespassing after they refused orders to leave, said police in New Haven, Connecticut, though dozens of protesters remained Tuesday morning.', 'Harvard University has closed Harvard Yard and officials at the university suspended a pro-Palestinian student organization for allegedly violating school policies.', 'And nine people were arrested Tuesday morning at the University of Minnesota’s Twin Cities campus after they formed an encampment that went against school policy.', 'Students, faculty and staff at the University of New Mexico peacefully protested Monday in support of Gaza, the university said in a statement Tuesday.', 'Activists at Columbia said they want a “complete divestment” from anything related to Israel, financial transparency into the university’s investments and amnesty from any disciplinary measures for students participating in the protests.', 'University officials warned earlier Tuesday that the encampment is violating school rules but did not provide specific disciplinary consequences.', 'New York City Mayor Eric Adams said Tuesday authorities have identified “outside agitators” causing problems at the mostly peaceful student protests at Columbia, NYU and other schools in the city.', 'The encampment at Columbia University was lively early this week, with many students congregating in circles, eating and talking.', 'A group of Jewish and non-Jewish students gathered at the encampment to celebrate Passover Seder Monday night.', 'Columbia student Cameron Jones told CNN: “I am Jewish and, to me, Passover symbolizes perseverance and resilience.', 'I think this encampment represents those two ideals because we have seen the university take countless measures to try to suppress our student activism, and here is us persevering through that.”', 'But some other Jewish students say they fear for their safety.', 'Jacob Schmeltz, a senior at Columbia, told CNN he typically celebrated Passover on campus, but has chosen to go home for the holiday this year.', '“Jewish students have had enough, and it’s gotten to the point that we feel safer off campus than on it,” he said.', 'As the protests stretch on, they have increasingly caught the attention of lawmakers.', 'On Tuesday, the White House said that Biden was “of course aware” of the pro-Palestinian protests at college campuses across the country.', '“We know that this is a painful moment for many communities, we respect that, and we support every American’s right to peacefully protest, that’s something that we have been consistent about,” White House Deputy Press Secretary Andrew Bates told reporters.', 'Bates also reiterated that the White House denounced calls for violence and antisemitic rhetoric.', 'Correction: An earlier version of this story incorrectly stated which day Columbia University announced it has extended negotiations with student activists.', 'The school announced the decision early Wednesday.', 'CNN’s Kate Sullivan, Samantha Delouya, Melanie Zanona, Taylor Romine, Omar Jimenez, Sara Smart, Matt Egan, Nic F. Anderson, Julia Jones, Isabel Rosales and Holly Yan contributed to report.']",-0.0741111005761501,"“I fully support the importance of free speech, respect the right to demonstrate, and recognize that many of the protestors have gathered peacefully,” Shafik said in a release late Tuesday evening. “","Tensions have escalated at many US universities since theOctober 7 terror attack on Israelby Hamas, which killed about 1,200 people and took others hostage, and Israel’s subsequent war on Hamas in Gaza, which has sincekilled tens of thousands of Palestinian civilians, according to the enclave’s health ministry.",-0.4892042577266693,"“Jewish students have had enough, and it’s gotten to the point that we feel safer off campus than on it,” he said.",But the editor-in-chief of Columbia’s student newspaper told CNN the negotiating parties seem to be struggling to find a middle ground.,2024-04-24
-Lloyds hit as banks compete for mortgage customers,https://www.bbc.co.uk/news/business-68887633,2024-04-24T07:24:09.000Z,"Lloyds Banking Group's profits plunged by 28% in early 2024 as competition grew for mortgages and deposits. The bank posted pre-tax profits of £1.6bn between January and March, down from £2.3bn last year. Lloyds said its margins had been hit ""mainly within UK mortgages"" amid heightened competition between lenders to offer squeezed buyers better deals. The UK's biggest lender also made less from loans to businesses, but more from credit cards and car finance. The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).  The fall was expected as more people moved their cash into savings accounts with higher returns and mortgage rates eased because of the competition stepping up among lenders. ""The company has seen competition in the mortgage market bring down its returns and savers move deposits into higher interest accounts - meaning it is paying out more to customers, "" said Russ Mould, investment director at AJ Bell. Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.  For the whole of 2023, Lloyds' pre-tax profits jumped to £7.5bn, which was higher than expected and up 57% on 2022. Borrowing costs have risen as the Bank of England has increased its base interest rate in a bid to bring down inflation - which measures price rises over time. But Mr Mould suggested that ""Lloyds' brief moment in the sun, when rates moved sharply higher and it was able to generate higher margins, seems to have come to an end"". In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade. The Bank of England is expected to cut rates this year, but predictions of when such a move might take place has seen some lenders start raising mortgage rates in recent days. Lloyds' rivals HSBC, NatWest and Barclays all raised rates on fixed-term loans, though not on all products, due to financial markets predicting an interest rate cut might not be as soon as previously expected. Lloyds said it still believed the Bank would cut rates by 0.25 percentage points three times before the end of 2024, which if happens, would see rates fall from 5.25% to 4.5%. On Wednesday, the average two-year fixed mortgage stood at 5.83%, while the average five-year deal was 5.41%.   Lloyds' latest results also showed the shift in more customers moving cash out of current accounts and into savings accounts had continued. The group also said it had faced higher running costs in early 2024, including a new sector-wide Bank of England levy on lenders and a £100m additional charge to cover employee severance after a recent round of redundancies. It confirmed it had not set aside any further cash to the £450m it has already allocated to cover the potential cost of an investigation into car finance deals by the UK's financial regulator. A probe into whether people had beenpaying too much for cars was launched by the Financial Conduct Authority (FCA) in January. Matt Britzman, equity analyst at investment firm Hargreaves Lansdown, said while Lloyds' profit fall looked ""substantial from this time last year"", it had been expected. Charlie Nunn, Lloyds' chief executive, said the quarterly results provided the group with ""further confidence"" around its strategic ambitions and showed the bank was ""continuing to support customers"". As well as announcing its latest earnings, Lloyds released forecasts for house prices. The group said it expected house prices to rise by 1.5% in 2024 and average that amount over the next four years. Separately on Wednesday, Heathrow Airport reported a huge rise in profits before tax of £189m for the three months to 31 March after recording a £60m loss for the same period last year. The UK's biggest airport said some 18.5 million passengers travelled through it in early 2024, partly driven by growth on business routes to Delhi and Mumbai in India and strong North American traffic. It has predicted this summer will be its ""busiest on record"", adding it had ""a robust operating plan in place to keep the airport running smoothly, even if unnecessary industrial action materialises"". Holiday firm Jet2 also said its summer season was 55% sold so far, with forward bookings for package holiday customers up by 13% and flight-only passengers up by more than 18%. ",BBC,24/04/2024,"[""Lloyds Banking Group's profits plunged by 28% in early 2024 as competition grew for mortgages and deposits."", 'The bank posted pre-tax profits of £1.6bn between January and March, down from £2.3bn last year.', 'Lloyds said its margins had been hit ""mainly within UK mortgages"" amid heightened competition between lenders to offer squeezed buyers better deals.', ""The UK's biggest lender also made less from loans to businesses, but more from credit cards and car finance."", 'The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).', 'The fall was expected as more people moved their cash into savings accounts with higher returns and mortgage rates eased because of the competition stepping up among lenders. ""', 'The company has seen competition in the mortgage market bring down its returns and savers move deposits into higher interest accounts - meaning it is paying out more to customers, "" said Russ Mould, investment director at AJ Bell.', ""Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans."", ""For the whole of 2023, Lloyds' pre-tax profits jumped to £7.5bn, which was higher than expected and up 57% on 2022."", 'Borrowing costs have risen as the Bank of England has increased its base interest rate in a bid to bring down inflation - which measures price rises over time.', 'But Mr Mould suggested that ""Lloyds\' brief moment in the sun, when rates moved sharply higher and it was able to generate higher margins, seems to have come to an end"".', 'In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade.', 'The Bank of England is expected to cut rates this year, but predictions of when such a move might take place has seen some lenders start raising mortgage rates in recent days.', ""Lloyds' rivals HSBC, NatWest and Barclays all raised rates on fixed-term loans, though not on all products, due to financial markets predicting an interest rate cut might not be as soon as previously expected."", 'Lloyds said it still believed the Bank would cut rates by 0.25 percentage points three times before the end of 2024, which if happens, would see rates fall from 5.25% to 4.5%.', 'On Wednesday, the average two-year fixed mortgage stood at 5.83%, while the average five-year deal was 5.41%.', ""Lloyds' latest results also showed the shift in more customers moving cash out of current accounts and into savings accounts had continued."", 'The group also said it had faced higher running costs in early 2024, including a new sector-wide Bank of England levy on lenders and a £100m additional charge to cover employee severance after a recent round of redundancies.', ""It confirmed it had not set aside any further cash to the £450m it has already allocated to cover the potential cost of an investigation into car finance deals by the UK's financial regulator."", 'A probe into whether people had beenpaying too much for cars was launched by the Financial Conduct Authority (FCA) in January.', 'Matt Britzman, equity analyst at investment firm Hargreaves Lansdown, said while Lloyds\' profit fall looked ""substantial from this time last year"", it had been expected.', 'Charlie Nunn, Lloyds\' chief executive, said the quarterly results provided the group with ""further confidence"" around its strategic ambitions and showed the bank was ""continuing to support customers"".', 'As well as announcing its latest earnings, Lloyds released forecasts for house prices.', 'The group said it expected house prices to rise by 1.5% in 2024 and average that amount over the next four years.', 'Separately on Wednesday, Heathrow Airport reported a huge rise in profits before tax of £189m for the three months to 31 March after recording a £60m loss for the same period last year.', ""The UK's biggest airport said some 18.5 million passengers travelled through it in early 2024, partly driven by growth on business routes to Delhi and Mumbai in India and strong North American traffic."", 'It has predicted this summer will be its ""busiest on record"", adding it had ""a robust operating plan in place to keep the airport running smoothly, even if unnecessary industrial action materialises"".', 'Holiday firm Jet2 also said its summer season was 55% sold so far, with forward bookings for package holiday customers up by 13% and flight-only passengers up by more than 18%.']",0.3043739212593588,"Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.","In January, competition for customers saw lenders cut rates sharply although borrowing to a buy a property has remained more expensive than many people have been used to in the past decade.",0.2630734118548306,"Like other UK banks, Lloyds' profits were boosted by the increase in interest rates over the past couple of years, which have allowed lenders to charge more on loans.","The group, which owns Halifax and Bank of Scotland, said in the three months to the end of March that its net interest income, which is the difference between the money it generates from loans and pays out for deposits, fell 10% to £3.2bn ($4bn).",2024-04-24
-Post Office: Husband of ex-boss Paula Vennells advised on Horizon 'bug',https://www.bbc.co.uk/news/business-68883059,2024-04-23T14:01:24.000Z,"The Post Office changed how it described problems with its Horizon IT system based on a suggestion by the husband of former boss, Paula Vennells.  The inquiry into the scandal has revealed that following advice from John Vennells, the Post Office stopped referring to ""bugs"", and instead called them ""anomalies and exceptions"". Senior executives felt that this language was ""less emotive"". But a lawyer for the inquiry branded the move as ""absolutely Orwellian"".  The long-running inquiry is looking into how hundreds of sub-postmasters were prosecuted for offences including theft and false accounting on the strength of the Post Office's faulty Horizon software system. The prosecutions between between 1999 and 2015 resulted in what is widely regarded as one of the worst miscarriages of justice in British history. On Tuesday, the Post Office's former general counsel Susan Crichton gave evidence. Julian Blake, one of the lawyers for the inquiry, revealed an email from Ms Vennells from 2013 in which she asked her ""engineer/computer literate"" husband: ""What is a non-emotive word for computer bugs, glitches, defects that happen as a matter of course?"" Mr Vennells, who did not work for the Post Office, suggested ""exception or anomaly"". The Post Office then started to refer to known defects in the system as ""exceptions"". ""Are we to understand here that words that were suggested by Paula Vennells' husband have now made their way into the terminology that's being used by the business?"" asked Mr Blake. ""That's certainly what it looks like,"" Ms Crichton said. ""It's absolutely Orwellian, isn't it, the use of the word 'exception' now, instead of 'bug'?"" he said. ""Changing the language within the company."" Mr Blake was referring to the novel 1984 by George Orwell in which a repressive government uses words that are the opposite in meaning as propaganda. He asked Ms Crichton if she would ""take responsibility"" for a briefing that referred to ""exceptions"", ""given that you were one of the people drafting it?"" Ms Crichton said her input to the briefing would have been to do with a report that the Post Office was due to publish by investigators Second Sight. ""If I had solely drafted it and it had been my work then I would take responsibility,"" she said, but added: ""I can't remember that."" Mr Blake then showed an email to the inquiry between Lesley Sewell, the Post Office's former IT chief and Martin Edwards, who is still a Post Office executive. In it, Ms Sewell said: ""We need to be careful in our [communications] not to indicate that we do not have anomalies or exceptions as that is not the case - it's the context which is important..."" Mr Blake asked whether the wording being used indicates an element of ""smoke and mirrors about the whole thing"". Ms Crichton responded: ""It certainly reads in that way, yes."" ",BBC,23/04/2024,"['The Post Office changed how it described problems with its Horizon IT system based on a suggestion by the husband of former boss, Paula Vennells.', 'The inquiry into the scandal has revealed that following advice from John Vennells, the Post Office stopped referring to ""bugs"", and instead called them ""anomalies and exceptions"".', 'Senior executives felt that this language was ""less emotive"".', 'But a lawyer for the inquiry branded the move as ""absolutely Orwellian"".', ""The long-running inquiry is looking into how hundreds of sub-postmasters were prosecuted for offences including theft and false accounting on the strength of the Post Office's faulty Horizon software system."", 'The prosecutions between between 1999 and 2015 resulted in what is widely regarded as one of the worst miscarriages of justice in British history.', ""On Tuesday, the Post Office's former general counsel Susan Crichton gave evidence."", 'Julian Blake, one of the lawyers for the inquiry, revealed an email from Ms Vennells from 2013 in which she asked her ""engineer/computer literate"" husband: ""What is a non-emotive word for computer bugs, glitches, defects that happen as a matter of course?""', 'Mr Vennells, who did not work for the Post Office, suggested ""exception or anomaly"".', 'The Post Office then started to refer to known defects in the system as ""exceptions"". ""', 'Are we to understand here that words that were suggested by Paula Vennells\' husband have now made their way into the terminology that\'s being used by the business?""', 'asked Mr Blake. ""', 'That\'s certainly what it looks like,"" Ms Crichton said. ""', 'It\'s absolutely Orwellian, isn\'t it, the use of the word \'exception\' now, instead of \'bug\'?""', 'he said. ""', 'Changing the language within the company.""', 'Mr Blake was referring to the novel 1984 by George Orwell in which a repressive government uses words that are the opposite in meaning as propaganda.', 'He asked Ms Crichton if she would ""take responsibility"" for a briefing that referred to ""exceptions"", ""given that you were one of the people drafting it?""', 'Ms Crichton said her input to the briefing would have been to do with a report that the Post Office was due to publish by investigators Second Sight. ""', 'If I had solely drafted it and it had been my work then I would take responsibility,"" she said, but added: ""I can\'t remember that.""', ""Mr Blake then showed an email to the inquiry between Lesley Sewell, the Post Office's former IT chief and Martin Edwards, who is still a Post Office executive."", 'In it, Ms Sewell said: ""We need to be careful in our [communications] not to indicate that we do not have anomalies or exceptions as that is not the case - it\'s the context which is important..."" Mr Blake asked whether the wording being used indicates an element of ""smoke and mirrors about the whole thing"".', 'Ms Crichton responded: ""It certainly reads in that way, yes.""']",-0.0493504389914429,"Ms Crichton responded: ""It certainly reads in that way, yes.""","The inquiry into the scandal has revealed that following advice from John Vennells, the Post Office stopped referring to ""bugs"", and instead called them ""anomalies and exceptions"".",-0.9061890244483948,,"Senior executives felt that this language was ""less emotive"".",2024-04-24
-Former National Enquirer boss reveals sleazy tactics the tabloid used to protect Donald Trump and smear his rivals,https://edition.cnn.com/2024/04/24/media/national-enquirer-trump-protect-smear/index.html,"
-  Updated
-        6:43 AM EDT, Wed April 24, 2024
-    ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here.
-    
-            Donald Trump and his allies like to complain at length about imagined “collusion” between the Democratic Party and the media. But on Tuesday, former National Enquirer boss David Pecker lifted the curtain on the actual media collusion that took place in the 2016 election.
-    
-            Pecker revealed in granular detail how Trump worked hand-in-hand with the infamous national tabloid to boost his candidacy and, perhaps far more importantly, simultaneously smear his political opponents with shameful lies and innuendo.
-    
-            “I said what I would do is I would run or publish positive stories about Mr. Trump and I would publish negative stories about his opponents,” Pecker said under oath at Trump’s historic hush-money trial in New York. “I said I would be your eyes and ears because I know that the Trump Organization has a very small staff.”
-    
-            The highly-anticipated court appearance from Pecker, who was granted immunity in exchange for his candid testimony at the trial, put a floodlight on the dark underbelly of the Enquirer, with the tabloid portrayed in open court as a tawdry publication willfully serving as a political weapon for Trump — truth and basic ethics be damned.
-    
-            Pecker spoke at length about how he worked with former Trump attorney Michael Cohen to “catch and kill” stories that could have damaged the then-candidate, such as former Playboy model Karen McDougal’s allegations of an affair, which the Enquirer paid $130,000 to bury. Pecker said that at the outset of the campaign he believed “there would be a lot of women who would come out to try to sell their stories” about Trump because he was “well known as the most eligible bachelor.”
-    
-            To that end, Pecker said he served as Trump’s eyes and ears, alerting the then-candidate’s camp to potentially embarrassing stories that hovered on the horizon. In fact, Pecker was so determined to protect Trump that he even purchased a story from Manhattan doorman Dino Sajudin, despite believing it to be bogus. That story, which the Enquirer paid $30,000 for, alleged Trump had fathered an illegitimate child, prompting the tabloid to deploy a team of reporters to chase down the truth. While Pecker eventually determined the story was false, his publication paid five figures for the story anyway.
-    
-            “If there was any rumors in the marketplace about Mr. Trump or his family or any negative stories that were coming out or things that I heard overall that I would go through, I would call Michael Cohen directly,” Pecker said.
-    
-            Meanwhile, Pecker worked with Cohen to smear Trump’s Republican rivals in the 2016 primary, including Ben Carson, Ted Cruz, and Marco Rubio. Pecker testified that the Enquirer would “communicate what we were doing at the direction of the article from Michael Cohen,” even sending the then-Trump lawyer PDF copies of the stories in advance.
-    
-            “He would comment on them, so we would add content based on the information Cohen provided them,” Pecker said.
-    
-            At times, Pecker said that Cohen went as far as to contact him and direct the Enquirer to attack Trump’s GOP rivals.
-    
-            “Michael Cohen would call me and say, ‘We would like you to run a negative article on a certain — let’s say for argument sake — on Ted Cruz, then he — Michael Cohen — would send me information about Ted Cruz or Ben Carson or Marco Rubio, and that was the basis of our story and then we would embellish it from there,” Pecker told the courtroom.
-    
-            When the Enquirer published negative stories about Bill and Hillary Clinton, Pecker said that Trump was elated.
-    
-            “He was pleased,” Pecker recalled.
-    
-            The relationship, however, between Trump and Pecker was kept secret from staff. Pecker, who revealed in court he operated a clandestine email account that his assistant did not have access to or know about, said he feared leaks and didn’t want “anyone to know” about the pact he had with Trump. Paranoid about the mutually beneficial relationship making its way to the press, Pecker only told select people about it, including then-top editor, Dylan Howard.
-    
-            “I told him we’re going to try to help the campaign, and to do that, I want to keep this as quiet as possible,” Pecker said.
-    
-            While the days of the Enquirer boosting Trump while publishing false and sleazy stories about his opponents are over, the habit remains prevalent in right-wing media. Far more powerful outlets, such as Rupert Murdoch’s Fox News, continue to debase themselves in service of Trump, acting as his propaganda vehicles.
-    
-            Case in point: While MAGA Media would be apoplectic if President Joe Biden were being tried in criminal court, coverage has been scant and/or bent in favor of Trump in right-wing media. Fox News on Tuesday barely covered the explosive revelations from Pecker. And when the outlet did offer its audience coverage of the trial, it was through an unmistakable pro-Trump lens. Meanwhile, Fox News and other right-wing outlets continue to launch ugly — and often dishonest — attacks on Biden.
-    
-            As it turns out, there will always be grossly unethical behavior among those in partisan media. And Trump knows precisely how to exploit that fact to his advantage — a reality that the hush-money case is underscoring for the sect of the public not locked in his warped propaganda universe.",CNN,24/04/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'Donald Trumpand his allies like to complain at length about imagined “collusion” between theDemocratic Partyand the media.', 'But on Tuesday, formerNational EnquirerbossDavid Peckerlifted the curtain on theactualmedia collusion that took place in the 2016 election.', 'Pecker revealed in granular detail how Trump worked hand-in-hand with the infamous national tabloid to boost his candidacy and, perhaps far more importantly, simultaneously smear his political opponents with shameful lies and innuendo.', '“I said what I would do is I would run or publish positive stories about Mr. Trump and I would publish negative stories about his opponents,” Pecker said under oath at Trump’s historic hush-money trial in New York. “', 'I said I would be your eyes and ears because I know that theTrump Organizationhas a very small staff.”', 'The highly-anticipated court appearance from Pecker, who was granted immunity in exchange for his candid testimony at the trial, put a floodlight on the dark underbelly of the Enquirer, with the tabloid portrayed in open court as a tawdry publication willfully serving as a political weapon for Trump — truth and basic ethics be damned.', 'Pecker spoke at length about how he worked with former Trump attorneyMichael Cohento “catch and kill” stories that could have damaged the then-candidate, such as formerPlayboymodelKaren McDougal’sallegations of an affair, which the Enquirer paid $130,000 to bury.', 'Pecker said that at the outset of the campaign he believed “there would be a lot of women who would come out to try to sell their stories” about Trump because he was “well known as the most eligible bachelor.”', 'To that end, Pecker said he served as Trump’s eyes and ears, alerting the then-candidate’s camp to potentially embarrassing stories that hovered on the horizon.', 'In fact, Pecker was so determined to protect Trump that he even purchased a story from Manhattan doormanDino Sajudin, despite believing it to be bogus.', 'That story, which the Enquirer paid $30,000 for, alleged Trump had fathered an illegitimate child, prompting the tabloid to deploy a team of reporters to chase down the truth.', 'While Pecker eventually determined the story was false, his publication paid five figures for the story anyway.', '“If there was any rumors in the marketplace about Mr. Trump or his family or any negative stories that were coming out or things that I heard overall that I would go through, I would call Michael Cohen directly,”Pecker said.', 'Meanwhile, Pecker worked with Cohen to smear Trump’s Republican rivals in the 2016 primary, includingBen Carson,Ted Cruz, andMarco Rubio.', 'Pecker testified that the Enquirer would “communicate what we were doing at the direction of the article from Michael Cohen,” even sending the then-Trump lawyer PDF copies of the stories in advance.', '“He would comment on them, so we would add content based on the information Cohen provided them,” Pecker said.', 'At times, Pecker said that Cohen went as far as to contact him and direct the Enquirer to attack Trump’s GOP rivals.', '“Michael Cohen would call me and say, ‘We would like you to run a negative article on a certain — let’s say for argument sake — on Ted Cruz, then he — Michael Cohen — would send me information about Ted Cruz or Ben Carson or Marco Rubio, and that was the basis of our story and then we would embellish it from there,” Pecker told the courtroom.', 'When the Enquirer published negative stories aboutBill and Hillary Clinton, Pecker said that Trump was elated.', '“He was pleased,” Pecker recalled.', 'The relationship, however, between Trump and Pecker was kept secret from staff.', 'Pecker, who revealed in court he operated a clandestine email account that his assistant did not have access to or know about, said he feared leaks and didn’t want “anyone to know” about the pact he had with Trump.', 'Paranoid about the mutually beneficial relationship making its way to the press, Pecker only told select people about it, including then-top editor,Dylan Howard.', '“I told him we’re going to try to help the campaign, and to do that, I want to keep this as quiet as possible,” Pecker said.', 'While the days of the Enquirer boosting Trump while publishing false and sleazy stories about his opponents are over, the habit remains prevalent in right-wing media.', 'Far more powerful outlets, such asRupert Murdoch’s Fox News, continue to debase themselves in service of Trump, acting as his propaganda vehicles.', 'Case in point: WhileMAGA Mediawould be apoplectic ifPresident Joe Bidenwere being tried in criminal court, coverage has been scant and/or bent in favor of Trump in right-wing media.', 'Fox News on Tuesday barely covered the explosive revelations from Pecker.', 'And when the outlet did offer its audience coverage of the trial, it was through an unmistakable pro-Trump lens.', 'Meanwhile, Fox News and other right-wing outlets continue to launch ugly —and often dishonest— attacks on Biden.', 'As it turns out, there will always be grossly unethical behavior among those in partisan media.', 'And Trump knows precisely how to exploit that fact to his advantage — a reality that the hush-money case is underscoring for the sect of the public not locked in his warped propaganda universe.']",-0.0364228009834478,"In fact, Pecker was so determined to protect Trump that he even purchased a story from Manhattan doormanDino Sajudin, despite believing it to be bogus.","Meanwhile, Fox News and other right-wing outlets continue to launch ugly —and often dishonest— attacks on Biden.",0.1126541852951049,"“He was pleased,” Pecker recalled.","Case in point: WhileMAGA Mediawould be apoplectic ifPresident Joe Bidenwere being tried in criminal court, coverage has been scant and/or bent in favor of Trump in right-wing media.",2024-04-24
-'We need a miracle' - Israeli and Palestinian economies battered by war,https://www.bbc.co.uk/news/world-middle-east-68884729,2024-04-24T00:35:26.000Z,"More than six months into the devastating Gaza war, its impact on the Israeli and Palestinian economies has been huge.  Nearly all economic activity in Gaza has been wiped out and the World Bank says the war has also hit Palestinian businesses in the occupied West Bank hard.  As Israelis mark the Jewish festival of Passover, the much-vaunted ""start-up nation"" is also trying to remain an attractive proposition for investors. The cobbled streets of Jerusalem's Old City are eerily quiet. There are none of the long queues to visit the holy sites - at least those that remain open.  Just after Easter and Ramadan and right in the middle of Passover, all four quarters of the Old City should be teeming with visitors. Just 68,000 tourists arrived in Israel in February, according to the country's Central Bureau of Statistics. That's down massively from 319,100 visitors in the same month last year.  While it may be surprising that any visitors pass through Jerusalem at a time of such tension, many of those who do are religious pilgrims from across the globe who will have paid for their journeys well in advance. Zak's Jerusalem Gifts was one of only a handful of stores on Christian Quarter Street in the Old City, which is situated in occupied East Jerusalem, to have bothered opening up on the day I passed by. ""We're only really doing online sales,"" says Zak, whose business specialises in antiques and biblical coins.  ""There are no actual people. The last week, after the Iran-Israel escalation, business dropped down again. So we are just hoping that after the holidays some big major miracle will happen."" It's not just in Jerusalem's Old City that they need a miracle. Some 250km (150 miles) further north, on Israel's volatile border with Lebanon, almost daily exchanges of fire with Hezbollah since the war in Gaza began have forced the Israeli army to close much of the area and 80,000 residents have been evacuated further south. A similar number of Lebanese have been forced to leave their homes on the other side of the border. Agriculture in this part of Israel is another economic sector that has been hit hard. Ofer ""Poshko"" Moskovitz isn't really permitted to enter his avocado orchard in the kibbutz of Misgav Am because of its proximity to the border. But he occasionally ventures in anyway, walking wistfully among the trees, to gaze at all of his ""money falling on the ground"".  ""I must go to pick in the orchard because it's very important for the next season,"" Poshko says. ""If I don't pick this fruit, the next season will be a very poor one."" He says he is losing a lot of money because he can't pick the avocados - around 2m shekels ($530,000; £430,000) this season, he says. Although they provide a living for thousands of people, agriculture and tourism account for relatively small parts of both the Israeli or Palestinian economies. So what does the wider picture show? Last week ratings agency S&P Global cut Israel's long-term ratings (to A-plus from AA-minus) reflecting a loss of market confidence after increased tensions between Israel and Iran and concerns the war in Gaza could spread across the wider Middle East. That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023. Many Israelis though say the country's renowned high-tech and start-up sector is proving to be more ""war-proof"" than expected. The coastal city of Tel Aviv is only 54km from Jerusalem. More pertinently, perhaps, it's less than 70km from Gaza.  At times, you'd be forgiven for forgetting - however momentarily - that Israel is embroiled in its longest war since independence in 1948. Families make the most of the early summer sun to play in the surf, couples eat lunch in the many open-air beach restaurants and young people strum away on guitars on the green spaces between the coastal road and the Mediterranean. The backdrop is a city that is economically active and physically growing fast. ""They joke that Israel's national bird should be the crane - the mechanical kind!"" says Jon Medved, founder and CEO of the online global venture investment platform Our Crowd. An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups…  We're having one of the best years we've ever had. People who are engaged with Israel are not disengaging."" Medved insists that, despite everything, Israel is still the ""start-up nation"" and a good option for would-be investors. ""There are 400 multinational corporations that have operations here. Not a single multinational, has closed its operation in Israel since the war."" To an extent, Elise Brezis agrees with Mr Medved's assessment. The economics professor at Bar-Ilan University near Tel Aviv acknowledges that despite the last quarter's GDP figures, Israel's economy remains ""remarkably resilient"". ""When it comes to tourism, yes, we have a reduction in exports. But we had also reduction in imports,"" says Brezis. ""So in fact, the balance of payments is still okay. That's what is so problematic is that from the data, you don't really feel that there is such a terrible situation in Israel."" But Prof Brezis detects a wider malaise in Israeli society that isn't reflected in economic data. ""Israel's economy might be robust, but Israeli society is not robust right now. It's like looking at a person and saying, 'Wow, his salary is high,' [...] but in fact he's depressed. And he's thinking, 'What will I do with my life?' - That's exactly Israel today."" If the outlook in Israel is mixed, then across the separation barrier that divides Jerusalem and Bethlehem the view from the Palestinian side is overwhelmingly bleak. Tourism is especially important to the economies of towns like Bethlehem in the occupied West Bank.  While some people are still heading to Jerusalem's sites, in the place where Christians believe Jesus was born tourism ""stopped immediately"" after 7 October last year, says Dr Samir Hazboun, chairman of Bethlehem's Chamber of Commerce and Industry. That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war. There's huge dependence and reliance on Israel's economy here - but Israel virtually closed off the landlocked West Bank after 7 October and this has had a disastrous impact on the life and work of many Palestinians, Dr Hazboun says. ""The Bethlehem governorate right now is closed,"" he says. ""There are around 43 gates [in the Israeli security barrier] but only three are open. So with between 16,000 and 20,000 Palestinian workers from our area working in Israel, immediately, they lost their income."" The chamber of commerce says that the revenues from local Palestinians working in Israel amounted to 22bn shekels ($5.8bn) annually. ""You can imagine the impact on the economy,"" says Dr Hazboun, who is particularly concerned for the prospects for younger Palestinians the longer the war continues and more the Israeli and West Bank economies decouple. ""The younger generation now are jobless, they are not working. Many of them are talented people,"" he laments. ""In June I'm expecting around 30,000 new graduates from the Palestinian universities. What they will do?  In Gaza itself the economy has been completely destroyed by six months of war. Israel's relentless aerial bombardment and ground operations have killed 34,183 people, mostly women and children, according to the Hamas-run health ministry. Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal. ",BBC,24/04/2024,"['More than six months into the devastating Gaza war, its impact on the Israeli and Palestinian economies has been huge.', 'Nearly all economic activity in Gaza has been wiped out and the World Bank says the war has also hit Palestinian businesses in the occupied West Bank hard.', 'As Israelis mark the Jewish festival of Passover, the much-vaunted ""start-up nation"" is also trying to remain an attractive proposition for investors.', ""The cobbled streets of Jerusalem's Old City are eerily quiet."", 'There are none of the long queues to visit the holy sites - at least those that remain open.', 'Just after Easter and Ramadan and right in the middle of Passover, all four quarters of the Old City should be teeming with visitors.', ""Just 68,000 tourists arrived in Israel in February, according to the country's Central Bureau of Statistics."", ""That's down massively from 319,100 visitors in the same month last year."", 'While it may be surprising that any visitors pass through Jerusalem at a time of such tension, many of those who do are religious pilgrims from across the globe who will have paid for their journeys well in advance.', 'Zak\'s Jerusalem Gifts was one of only a handful of stores on Christian Quarter Street in the Old City, which is situated in occupied East Jerusalem, to have bothered opening up on the day I passed by. ""', 'We\'re only really doing online sales,"" says Zak, whose business specialises in antiques and biblical coins. ""', 'There are no actual people.', 'The last week, after the Iran-Israel escalation, business dropped down again.', 'So we are just hoping that after the holidays some big major miracle will happen.""', ""It's not just in Jerusalem's Old City that they need a miracle."", ""Some 250km (150 miles) further north, on Israel's volatile border with Lebanon, almost daily exchanges of fire with Hezbollah since the war in Gaza began have forced the Israeli army to close much of the area and 80,000 residents have been evacuated further south."", 'A similar number of Lebanese have been forced to leave their homes on the other side of the border.', 'Agriculture in this part of Israel is another economic sector that has been hit hard.', 'Ofer ""Poshko"" Moskovitz isn\'t really permitted to enter his avocado orchard in the kibbutz of Misgav Am because of its proximity to the border.', 'But he occasionally ventures in anyway, walking wistfully among the trees, to gaze at all of his ""money falling on the ground"". ""', 'I must go to pick in the orchard because it\'s very important for the next season,"" Poshko says. ""', 'If I don\'t pick this fruit, the next season will be a very poor one.""', ""He says he is losing a lot of money because he can't pick the avocados - around 2m shekels ($530,000; £430,000) this season, he says."", 'Although they provide a living for thousands of people, agriculture and tourism account for relatively small parts of both the Israeli or Palestinian economies.', 'So what does the wider picture show?', ""Last week ratings agency S&P Global cut Israel's long-term ratings (to A-plus from AA-minus) reflecting a loss of market confidence after increased tensions between Israel and Iran and concerns the war in Gaza could spread across the wider Middle East."", 'That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023.', 'Many Israelis though say the country\'s renowned high-tech and start-up sector is proving to be more ""war-proof"" than expected.', 'The coastal city of Tel Aviv is only 54km from Jerusalem.', ""More pertinently, perhaps, it's less than 70km from Gaza."", ""At times, you'd be forgiven for forgetting - however momentarily - that Israel is embroiled in its longest war since independence in 1948."", 'Families make the most of the early summer sun to play in the surf, couples eat lunch in the many open-air beach restaurants and young people strum away on guitars on the green spaces between the coastal road and the Mediterranean.', 'The backdrop is a city that is economically active and physically growing fast. ""', 'They joke that Israel\'s national bird should be the crane - the mechanical kind!""', 'says Jon Medved, founder and CEO of the online global venture investment platform Our Crowd.', 'An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups… We\'re having one of the best years we\'ve ever had.', 'People who are engaged with Israel are not disengaging.""', 'Medved insists that, despite everything, Israel is still the ""start-up nation"" and a good option for would-be investors. ""', 'There are 400 multinational corporations that have operations here.', 'Not a single multinational, has closed its operation in Israel since the war.""', ""To an extent, Elise Brezis agrees with Mr Medved's assessment."", 'The economics professor at Bar-Ilan University near Tel Aviv acknowledges that despite the last quarter\'s GDP figures, Israel\'s economy remains ""remarkably resilient"". ""', 'When it comes to tourism, yes, we have a reduction in exports.', 'But we had also reduction in imports,"" says Brezis. ""', 'So in fact, the balance of payments is still okay.', 'That\'s what is so problematic is that from the data, you don\'t really feel that there is such a terrible situation in Israel.""', 'But Prof Brezis detects a wider malaise in Israeli society that isn\'t reflected in economic data. ""', ""Israel's economy might be robust, but Israeli society is not robust right now."", ""It's like looking at a person and saying, 'Wow, his salary is high,' [...] but in fact he's depressed."", ""And he's thinking, 'What will I do with my life?' -"", 'That\'s exactly Israel today.""', 'If the outlook in Israel is mixed, then across the separation barrier that divides Jerusalem and Bethlehem the view from the Palestinian side is overwhelmingly bleak.', 'Tourism is especially important to the economies of towns like Bethlehem in the occupied West Bank.', 'While some people are still heading to Jerusalem\'s sites, in the place where Christians believe Jesus was born tourism ""stopped immediately"" after 7 October last year, says Dr Samir Hazboun, chairman of Bethlehem\'s Chamber of Commerce and Industry.', ""That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war."", 'There\'s huge dependence and reliance on Israel\'s economy here - but Israel virtually closed off the landlocked West Bank after 7 October and this has had a disastrous impact on the life and work of many Palestinians, Dr Hazboun says. ""', 'The Bethlehem governorate right now is closed,"" he says. ""', 'There are around 43 gates [in the Israeli security barrier] but only three are open.', 'So with between 16,000 and 20,000 Palestinian workers from our area working in Israel, immediately, they lost their income.""', 'The chamber of commerce says that the revenues from local Palestinians working in Israel amounted to 22bn shekels ($5.8bn) annually. ""', 'You can imagine the impact on the economy,"" says Dr Hazboun, who is particularly concerned for the prospects for younger Palestinians the longer the war continues and more the Israeli and West Bank economies decouple. ""', 'The younger generation now are jobless, they are not working.', 'Many of them are talented people,"" he laments. ""', ""In June I'm expecting around 30,000 new graduates from the Palestinian universities."", 'What they will do?', 'In Gaza itself the economy has been completely destroyed by six months of war.', ""Israel's relentless aerial bombardment and ground operations have killed 34,183 people, mostly women and children, according to the Hamas-run health ministry."", 'Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal.']",-0.0504824617095796,"Unlike in some parts of Israel, where there is optimism around being able to ride out the storm and continue attracting investors, in the West Bank and Gaza there is little hope things will return to any kind of normal.","That's when Hamas attacked Israeli communities near Gaza, killing about 1,200 people, mainly civilians, taking about 250 hostages and sparking the current war.",-0.2119207361648822,"An engaging character with an overwhelmingly upbeat view of his world, Medved tells me that, ""in the first quarter of this year, almost $2bn was invested in Israeli start-ups… We're having one of the best years we've ever had.",That loss of confidence was also reflected in falling Israeli GDP - the total value of goods and services produced in the economy - which decreased by 5.7% in the last quarter of 2023.,2024-04-24
-How TikTok’s Chinese parent company will rely on an American right to keep the app alive,https://edition.cnn.com/2024/04/24/media/tiktok-bytedance-american-right/index.html,"
-  Updated
-        10:12 PM EDT, Wed April 24, 2024
-    ","TikTok’s expected legal challenge to a law signed Wednesday by President Joe Biden forcing the popular app’s parent company to spin off its US operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases.
-    
-            The new law gives TikTok’s parent company ByteDance nine months to sell the short-form video app or face a ban in the US, where it claims some 170 million users and has raised national security concerns over its ability to potentially gather data on and influence Americans.
-    
-            But in an ironic twist, ByteDance, which is based in China where the ruling Communist Party has cracked down on free speech and dissent, will be relying on this very American right to protect its business interest.
-    
-            “We are confident and we will keep fighting for your rights in the courts. The facts and the Constitution are on our side and we expect to prevail,” TikTok chief executive Shou Chew said in a video posted on the app in response to the new law.
-    
-            In recent months, the company has foreshowed it plans to challenge the law on First Amendment grounds. In the run up to the law’s passage, TikTok encouraged its millions of users to call members of Congress to protest the bill, arguing it would infringe on “their Constitutional right to free expression.”
-    
-            Last year, a federal judge halted a first-of-its-kind statewide ban on TikTok in Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”
-    
-            Although the details of TikTok’s legal case are not yet public, legal scholars say the government only has a very narrow argument to stand on to force the sale.
-    
-            “At stake here is not TikTok’s interests, but the interests of the millions of Americans who use the platform,” Ramya Krishnan, a senior staff attorney at the Knight First Amendment Institute at Columbia University, told CNN. “So whatever rights TikTok has or does not have, it is indisputable that Americans have a right to access and use social media and media of their choosing.”
-    
-            To overcome that right, the government’s strongest argument is based on national security, said Nate Persily, Stanford law professor and Founding Co-Director of the Stanford Cyber Policy Center.
-    
-            “If the company is acquiring data on the US population that can be used by the Chinese government in a way that threatens American national security, that of course is a compelling state interest that could overwhelm of what might be the first amendment rights of the users or the platform,” Persily said.
-    
-            “I think that’s a pretty solid argument, actually. I mean, is it even technically feasible to wall off their data gathering operations in the US, given that they it feeds back into the algorithm globally right now,” Persily added.
-    
-            FBI Director Christopher Wray said earlier this week that TikTok is “a national security concern” because “it is beholden to the Chinese government.”
-    
-            “It has to do with the data, the recommendation algorithm, and the software,” Wray said in an NBC News interview. “The data, we’re talking about the ability to control or collect data on millions and millions of users, and to use it for all sorts of influence operations, like driving their AI efforts which are not remotely constrained by the rule of law.”
-    
-            TikTok says it has never provided data to the Chinese government and has “invested billions of dollars to keep US data safe and our platform free from outside influence and manipulation.”
-    
-            But legal experts say potential influence operations on TikTok, such as suppressing content on the app, is not a persuasive argument that will stand up in court. (TikTok has denied it suppresses content).
-    
-            “It’s less persuasive to say that the reason you’re going to ban the foreign platform is because you’re afraid of the messages that it communicates,” Persily said.
-    
-            Krishnan said even the national security argument will not withstand legal scrutiny because the Chinese government could easily purchase the same data on Americans through the open market.
-    
-            “[The government is] not going to be able to satisfy that burden here, not only because much of this information is information that China could obtain through other means, but because the government could much more effectively protect American privacy by passing a comprehensive data privacy law,” she said.
-    
-            TikTok’s looming legal challenge will be one of several that could eventually reach the US Supreme Court that could completely redefine online speech. Other high-profile cases that will determine whether social media companies can moderate content on their platforms are also likely to be decided this year.
-    
-            “The rules for online speech are being written by the Supreme Court this year,” Persily said.",CNN,24/04/2024,"['TikTok’s expected legal challenge to a law signed Wednesday by President Joe Bidenforcing the popular app’s parent company to spin offitsUS operations could be a seminal moment in First Amendment law in what is shaping up to be a year of defining cases.', 'The new law gives TikTok’sparent company ByteDance nine months to sell the short-form video app or face a ban in the US, where it claims some 170 million users and has raised national security concerns over its ability to potentially gather data on and influence Americans.', 'Butin an ironic twist, ByteDance,which is based in China where the ruling Communist Party has cracked down on free speech and dissent, will be relying on this very American right to protect its business interest.', '“We are confident and we will keep fighting for your rights in the courts.', 'The facts and the Constitution are on our side and we expect to prevail,” TikTokchief executiveShou Chew said in a videoposted on the app in response to the new law.', 'In recent months, the company has foreshowed it plans to challenge the law on First Amendment grounds.', 'In the run up to the law’s passage, TikTok encouraged its millions of users to call members of Congress to protest the bill, arguing it would infringe on “their Constitutional right to free expression.”', 'Last year, a federal judge halted a first-of-its-kind statewide ban on TikTokin Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”', 'Although the details of TikTok’s legal case are not yet public, legal scholars say the government only has a very narrow argument to stand on to force the sale.', '“At stake here is not TikTok’s interests, but the interests of the millions of Americans who use the platform,” Ramya Krishnan, a senior staff attorney at the Knight First Amendment Instituteat Columbia University, told CNN. “', 'So whatever rights TikTok has or does not have, it is indisputable that Americans have a right to access and use social media and media of their choosing.”', 'To overcome that right, the government’s strongestargument is based on national security,saidNate Persily, Stanford law professor andFounding Co-Director of the Stanford Cyber Policy Center.', '“If the company is acquiring data on the US population that can be used by the Chinese government in a way that threatens American national security, that of course is a compelling state interest that could overwhelm of what might be the first amendment rights of the users or the platform,” Persily said.', '“I think that’s a pretty solid argument, actually.', 'I mean, is it even technically feasible to wall off their data gathering operations in the US, given that they it feeds back into the algorithm globally right now,” Persily added.', 'FBI Director Christopher Wraysaid earlier this weekthatTikTok is “a national security concern” because “it is beholden to the Chinese government.”', '“It has to do with the data, the recommendation algorithm, and the software,”Wray said in an NBC News interview.', '“The data, we’re talking about the ability to control or collect data on millions and millions of users, and to use it for all sorts of influence operations, like driving their AI efforts which are not remotely constrained by the rule of law.”', 'TikTok says it has never provided data to the Chinese government and has “invested billions of dollars to keep US data safe and our platform free from outside influence and manipulation.”', 'But legal experts saypotentialinfluence operations on TikTok, such as suppressing contenton the app, is not a persuasive argument that will stand up in court. (', 'TikTok has denied it suppresses content).', '“It’s less persuasive to say that the reason you’re going to ban the foreign platform is because you’re afraid of the messages that it communicates,” Persily said.', 'Krishnan said even the national security argument will notwithstand legal scrutinybecause the Chinese government could easily purchase the same data on Americans through the open market.', '“[The government is] not going to be able to satisfy that burden here, not only because much of this information is information that China could obtain through other means, but because the government could much more effectively protect American privacy by passing a comprehensive data privacy law,” she said.', 'TikTok’sloominglegal challenge will be one of severalthat could eventually reachthe US Supreme Court that could completely redefine online speech.', 'Otherhigh-profile casesthat will determine whethersocial media companiescan moderate content on their platforms are also likely to be decided this year.', '“The rules for online speech are being written by the Supreme Court this year,” Persily said.']",0.2236054094656963,"“[The government is] not going to be able to satisfy that burden here, not only because much of this information is information that China could obtain through other means, but because the government could much more effectively protect American privacy by passing a comprehensive data privacy law,” she said.","Last year, a federal judge halted a first-of-its-kind statewide ban on TikTokin Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”",0.0164237171411514,“We are confident and we will keep fighting for your rights in the courts.,"Last year, a federal judge halted a first-of-its-kind statewide ban on TikTokin Montana, stating the law had “both harmed [TikTok’s] First Amendment rights and cut off a stream of income on which many rely.”",2024-04-24
-Your ultimate guide to the American Express Membership Rewards program,https://edition.cnn.com/cnn-underscored/travel/american-express-membership-rewards-guide,"
-  Updated
-        1:03 PM EDT, Mon April 1, 2024
-    ","American Express Membership Rewards® are among the most valuable travel rewards points out there. That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.
-    
-            In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.
-    
-            Having Membership Rewards points gives you options, and that’s always a good thing. If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.
-    
-            You can earn Membership Rewards points in various ways. Some require little effort, while others involve a heavier lift. It’s a good idea to take advantage of all the options out there in order to maximize your earnings. Here’s a look at how to earn Membership Rewards most efficiently.
-    
-            The primary way to earn Amex points is through credit cards that earn Membership Rewards. Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.
-    
-            These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card. With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance. Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.
-    
-            Keep in mind, too, that many of these cards carry an annual fee:
-    
-            All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.
-    
-            Similarly, American Express offers a suite of business credit cards.
-    
-            All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.
-    
-            Keep in mind that several of these cards also carry an annual fee:
-    
-            Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses. If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).
-    
-            If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel. Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.
-    
-            When applying for American Express cards, be sure to take note of the application rules. For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days. Before applying for a credit card, it’s important to do your research.
-    
-            As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer. One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.
-    
-             Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings. That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.
-    
-            Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder. Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.
-    
-            If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.
-    
-            American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card. You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.
-    
-            To find out your card’s current referral bonus, head over to the Amex referral site. You’ll see referral bonuses based on your card. Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card. You can also copy the referral link on the page and share that with your friends and family directly.
-    
-            Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family. Keep in mind there is a limit to how many friends you can refer in a year.
-    
-            Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards. For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.
-    
-            As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection. In general, booking travel through American Express pays off in more ways than one.
-    
-            Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers. With Amex Offers, card holders can earn statement credits or bonus points at select retailers. In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.
-    
-            To find and take advantage of Amex Offers, you’ll need to log in to your account. From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page. Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer. From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase. Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.
-    
-            Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards. It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.
-    
-            If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards. Simply log into your account and follow these steps:
-    
-            After this, rewards get transferred to your Membership Rewards account quarterly.
-    
-            Now, for the fun part! Once you’ve earned Membership Rewards points, it’s time to put them to good use. Amex gives you several options to redeem points, but the best option is travel. You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.
-    
-            Here’s a closer look at your options and how they work.
-    
-            American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners. The best way to redeem Membership Rewards for maximum value is through airline transfers. But keep in mind that not all airline loyalty programs are equal.
-    
-            Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.
-    
-            If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.
-    
-            It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels. So, at times, you can get more points in return than the standard transfer rate listed above. Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.
-    
-            By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.
-    
-            Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.
-    
-            Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you. But, some redemptions are better than others — particularly when it comes to award sweet spots.
-    
-            Some examples of these sweet spot awards using your Amex Membership Rewards points include the following:
-    
-            Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners. But that may not always make sense for all card holders — and it’s not your only option.
-    
-            If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions. This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.
-    
-            Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value. If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.
-    
-            You’ll get slightly more value by redeeming your Membership Rewards for travel bookings. By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings. Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.
-    
-            If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value. However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.
-    
-            Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points. However, that’s not always the case for everyone. You may want to save a few dollars here or there on a purchase you’re making online. Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.
-    
-            When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them. The value you can get ranges from about 0.6 cents each to about 2 cents each. Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.
-    
-            Amex offers 0.6 cents per point in value when you use points for statement credits. Meanwhile, travel bookings will get you a somewhat higher 1 cent per point. The highest value comes from transferring points to airline and hotel partners, as detailed above. Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.
-    
-            American Express Membership Rewards points are some of the most versatile and valuable out there. By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more. Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.
-    
-            Click here for rates and fees of the Amex Platinum card.Click here for rates and fees of the Amex Gold card.Click here for rates and fees of the Amex Business Platinum card.Click here for rates and fees of the Amex Business Gold card.Click here for rates and fees of the Amex Blue Business Plus card.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,01/04/2024,"['American Express Membership Rewards® are among the most valuable travel rewards points out there.', 'That’s primarily because they fall into the category of “transferable rewards,” meaning you’re not tied down to a single airline or hotel program with which you can redeem them.', 'In other words, you’re not just earning points that can transfer to Delta SkyMiles, but they can also transfer to any of the other 16 airlines in the Membership Rewards portfolio.', 'Having Membership Rewards points gives you options, and that’s always a good thing.', 'If you’re ready to give your rewards portfolio a boost, here’s everything you need to know about earning and redeeming Amex Membership Rewards.', 'You can earn Membership Rewards points in various ways.', 'Some require little effort, while others involve a heavier lift.', 'It’s a good idea to take advantage of all the options out there in order to maximize your earnings.', 'Here’s a look at how to earn Membership Rewards most efficiently.', 'The primary way to earn Amex points is through credit cards that earn Membership Rewards.', 'Amex has an extensive lineup of personal and business cards offering generous welcome bonuses and recurring benefits to help you earn maximum points.', 'These include well-known cards like The Platinum Card® from American Express and the American Express® Gold Card.', 'With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.', 'Here’s a look at the current welcome bonus offers on personal credit cards that earn Membership Rewards.', 'Keep in mind, too, that many of these cards carry an annual fee:  All information about the Amex EveryDay Credit Card, Amex EveryDay Preferred Credit Card and the American Express Green Card has been collected independently by CNN Underscored.', 'Similarly, American Express offers a suite of business credit cards.', 'All information about the Business Green Rewards Card from American Express has been collected independently by CNN Underscored.', 'Keep in mind that several of these cards also carry an annual fee:  Beyond the welcome bonus offers available, American Express makes it easy to earn Membership Rewards through category bonuses.', 'If you spend a lot on groceries, it may be worth considering the Amex Gold card to earn 4 points per dollar spent at US supermarkets (on up to $25,000 in purchases per year).', 'If you travel often, the Amex Platinum card is a great option for earning 5 points per dollar spent on eligible bookings made directly with an airline or with Amex Travel.', 'Plus, you’ll have access to airport lounges, like American Express Centurion Lounges and Delta Sky Clubs, among others.', 'When applying for American Express cards, be sure to take note of the application rules.', 'For example, you can’t earn an Amex welcome bonus more than once (with a few exceptions), and you generally won’t be approved for more than two cards every 90 days.', 'Before applying for a credit card, it’s important to do your research.', 'As mentioned before, American Express makes it manageable to earn bonus points long after the welcome bonus offer.', 'One of those ways is by adding an authorized user to your Amex card, which will occasionally earn you bonus points.', 'Aside from the special promotions where Amex will offer you bonus points for adding an authorized user, doing so can also help you double up your point earnings.', 'That’s because you’ll not only earn points per dollar spent on your purchases, but you’ll also earn rewards on the authorized user’s purchases.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'Choose carefully who you add to your account, and you can earn extra Amex points without lifting a finger.', 'If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.', 'American Express offers bonuses to current card holders when you refer someone and they are approved for an eligible card.', 'You can earn up to 20,000 points per successful approval, though the exact bonus varies by card.', 'To find out your card’s current referral bonus, head over to the Amex referral site.', 'You’ll see referral bonuses based on your card.', 'Simply enter your friend’s name and email address for each card you want to refer and they’ll get an email, inviting them to apply for the card.', 'You can also copy the referral link on the page and share that with your friends and family directly.', 'Referrals are a lucrative way to earn Amex Membership Rewards points for recommending credit cards to your friends and family.', 'Keep in mind there is a limit to how many friends you can refer in a year.', 'Booking travel with American Express is rewarding, too — you can earn bonus points on your credit card, plus you can often get additional perks and rewards.', 'For example, with the Amex Platinum, you’ll get 5 points per dollar spent on hotels booked through Amex Travel.', 'As an added incentive, you’ll receive perks like free breakfast for two, room upgrades when available and hotel credits to use at the spa or onsite restaurant just by booking with Fine Hotels & Resorts or the Hotel Collection.', 'In general, booking travel through American Express pays off in more ways than one.', 'Card holders can also utilize one of the most underrated benefits of having an Amex card: Amex Offers.', 'With Amex Offers, card holders can earn statement credits or bonus points at select retailers.', 'In other words, it’s the perfect opportunity to save some cash or earn bonus points for purchases you were already planning on making.', 'To find and take advantage of Amex Offers, you’ll need to log in to your account.', 'From there, scroll to the bottom of the page to the Amex Offers & Benefits section of the page.', 'Be sure to click “View All” to load all of your eligible offers, and also be sure to select “Add to Card” in order to activate your Amex Offer.', 'From there, you’ll be eligible to earn the bonus points or cash savings that come as part of each Amex Offer — so long as you use the registered card to make your purchase.', 'Amex Offers are a massive perk of Amex cards that can save you money or earn you bonus points on purchases you were already planning to make.', 'Thanks to a partnership with American Express, you can turn your Rakuten cash back rewards into Membership Rewards.', 'It’s a great way to earn Membership Rewards points on regular purchases, without much added effort.', 'If you already have a Rakuten account, you can easily switch your earning preference to Membership Rewards.', 'Simply log into your account and follow these steps:  After this, rewards get transferred to your Membership Rewards account quarterly.', 'Now, for the fun part!', 'Once you’ve earned Membership Rewards points, it’s time to put them to good use.', 'Amex gives you several options to redeem points, but the best option is travel.', 'You can choose between statement credits for travel bookings or transferring them to airline or hotel partners.', 'Here’s a closer look at your options and how they work.', 'American Express has 20 airline and hotel transfer partners — in other words, the Amex points you’ve earned can be transferred to any of the 20 hotel and airline partners.', 'The best way to redeem Membership Rewards for maximum value is through airline transfers.', 'But keep in mind that not all airline loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'With each of the partners, you’ll need to link your accounts, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re looking to transfer your Amex Membership Rewards points, these are the 20 airline and hotel partner options, as well as the transfer rate.', 'It’s worth noting that Amex occasionally runs transfer promotions for certain airlines or hotels.', 'So, at times, you can get more points in return than the standard transfer rate listed above.', 'Bonuses like these can increase the value of your points by enabling you to book sought-after award tickets for substantially less.', 'By transferring Amex Membership Rewards points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming points and miles, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, British Airways and American Airlines are both members of the Oneworld alliance, meaning you can transfer your Amex Membership Rewards points to British Airways Executive Club and redeem for flights operated by American Airlines.', 'Because of the vast number of airline transfer partners, your options are virtually endless for where your Membership Rewards points can take you.', 'But, some redemptions are better than others — particularly when it comes to award sweet spots.', 'Some examples of these sweet spot awards using your Amex Membership Rewards points include the following:  Generally speaking, you’ll get the most value out of your Amex Membership Rewards points by transferring them to airline partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'If figuring out transfer partner options and award charts sounds daunting, you can also use your Membership Rewards for fixed redemptions.', 'This includes using points for statement credits, travel bookings via Amex Travel, charitable donations, online shopping and gift cards.', 'Using points for statement credits toward qualifying purchases isn’t a great use of your points because you’ll only get 0.6 cents per point in value.', 'If you’re looking to maximize the value of your Amex points, this isn’t the best route to take.', 'You’ll get slightly more value by redeeming your Membership Rewards for travel bookings.', 'By doing so, you’ll get 1 cent per point toward airfare and 0.7 cents per point toward car rentals, hotels, cruises and vacation bookings.', 'Business Platinum card holders also get a 35% rebate when redeeming points for flight bookings through Amex Travel.', 'If you choose to redeem your points for gift cards, you’ll get 1 cent per point in value.', 'However, if you use Pay With Points (valid with Amazon, Best Buy, Boxed, Dell and GrubHub and others), you’ll get a value of just 0.5 cents to 1 cent each (depending on the Amex card) — one of the lowest-value options out there.', 'Generally speaking, you should try to extract as much value as possible out of your Amex Membership Rewards points.', 'However, that’s not always the case for everyone.', 'You may want to save a few dollars here or there on a purchase you’re making online.', 'Ultimately, we love Membership Rewards points so much because you have the option to use them however you like — whether for travel, Amazon purchases, gift cards and more.', 'When it comes to the worth of your Membership Rewards points, it ultimately comes down to how you use them.', 'The value you can get ranges from about 0.6 cents each to about 2 cents each.', 'Frequent flyer website The Points Guy values Amex Membership Rewards points at 2 cents apiece.', 'Amex offers 0.6 cents per point in value when you use points for statement credits.', 'Meanwhile, travel bookings will get you a somewhat higher 1 cent per point.', 'The highest value comes from transferring points to airline and hotel partners, as detailed above.', 'Convert your points to airline miles and you can get 2 cents or more in value on premium award redemptions.', 'American Express Membership Rewards points are some of the most versatile and valuable out there.', 'By earning them, you give yourself the option to save money on travel, buying gift cards, Amazon purchases and so much more.', 'Ultimately, it’s the flexibility that makes having an Amex credit card so rewarding.', 'Click here for rates and fees of the Amex Platinum card.', 'Click here for rates and fees of the Amex Gold card.', 'Click here for rates and fees of the Amex Business Platinum card.', 'Click here for rates and fees of the Amex Business Gold card.', 'Click here for rates and fees of the Amex Blue Business Plus card.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.5246481979610982,"If you’ve picked up an American Express credit card, earned the welcome bonus offer and think others would enjoy doing the same, you can get rewarded for spreading the word to family and friends.",But keep in mind that not all airline loyalty programs are equal.,0.9622429311275482,"With a single welcome bonus offer, you can give a pretty substantial boost to your Membership Rewards points balance.",,2024-04-24
-Notorious far-right blog The Gateway Pundit declares bankruptcy over 2020 election-related lawsuits,https://edition.cnn.com/2024/04/24/media/gateway-pundit-declares-bankruptcy/index.html,"
-  Published
-        5:48 PM EDT, Wed April 24, 2024
-    ","The Gateway Pundit, the notorious far-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election.
-    
-            The move comes as the staunchly pro-Donald Trump website, which promoted the false notion that the 2020 election was stolen by President Joe Biden and his allies, faces multiple lawsuits over its bogus claims.
-    
-            One of the lawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing stories that falsely accused them of election fraud, which the pair said prompted a wave of harassment and threats of violence. The judge has rejected several attempts to throw out the case, which is currently in the discovery phase ahead of a potential trial.
-    
-            Another lawsuit, filed by a former Dominion Voting Systems executive, accuses the outlet of defamation. The Gateway Pundit denies wrongdoing in both cases.
-    
-            Over the years, The Gateway Pundit has become infamous for its publishing of hyper-partisan blog posts, many of which advance dangerous lies and conspiracy theories. Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.
-    
-            In a Wednesday statement, Hoft said the outlet had filed for Chapter 11 bankruptcy protection “as a result of the progressive liberal lawfare attacks” and was “not an admission of fault or culpability.” He described the move as a “common tool for reorganization and to consolidate litigation when attacks are coming from all sides.”
-    
-            “It allows [The Gateway Pundit] to consolidate this lawfare in one court for ultimate resolution,” Hoft said.
-    
-            Hoft indicated that the website would continue publishing as the litigation plays out in court, proclaiming the outlet “will not be deterred.”
-    
-            In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial.
-    
-            The Gateway Pundit is one of several right-wing media outlets grappling with the fallout stemming from its promotion of 2020 election lies. Fox News paid a record $787 million to settle a monster defamation lawsuit brought by Dominion Voting Systems, an election technology company. And the right-wing network still faces a similar lawsuit from Smartmatic, another election company.
-    
-            Meanwhile, the far-right channel One America News recently settled a lawsuit with Smartmatic. And the right-wing cable outlet Newsmax faces lawsuits from both Smartmatic and Dominion.",CNN,24/04/2024,"['The Gateway Pundit,the notoriousfar-right blog and prolific publisher of conspiracy theories, said Wednesday that it had filed for bankruptcy protection as it grapples with litigation related to its coverage of the 2020 election.', 'The move comes as thestaunchlypro-Donald Trump website, which promoted the false notion that the 2020 election was stolen by President Joe Biden and his allies, faces multiple lawsuits over itsbogus claims.', 'One ofthelawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing storiesthatfalsely accusedthem of election fraud, whichthe pairsaid prompted a wave of harassment and threats of violence.', 'The judge has rejected several attempts to throw out the case, which is currently in the discovery phase ahead of a potential trial.', 'Another lawsuit, filed by a former Dominion Voting Systems executive, accuses the outlet of defamation.', 'The Gateway Pundit denies wrongdoing in both cases.', 'Over the years, The Gateway Pundit has becomeinfamousfor its publishing of hyper-partisan blog posts, many of which advance dangerous lies and conspiracy theories.', 'Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.', 'In a Wednesday statement, Hoft said the outlet had filed for Chapter 11 bankruptcy protection “as a result of the progressive liberal lawfare attacks” and was “not an admission of fault or culpability.”', 'He described the move as a “common tool for reorganization and to consolidate litigation when attacks are coming from all sides.”', '“It allows[The Gateway Pundit]to consolidate this lawfare in one court for ultimate resolution,” Hoft said.', 'Hoft indicated that the website would continue publishing as the litigation plays out in court,proclaimingthe outlet “will not be deterred.”', 'In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial.', 'The Gateway Pundit is one of several right-wing media outlets grappling with the fallout stemming from its promotion of 2020 election lies.', 'Fox News paid a record $787 million to settle a monster defamation lawsuitbrought byDominion Voting Systems, an election technology company.', 'And the right-wing network still faces a similar lawsuit from Smartmatic, another election company.', 'Meanwhile, the far-right channel One America News recently settled a lawsuit with Smartmatic.', 'And the right-wingcableoutlet Newsmax faces lawsuits from both Smartmatic and Dominion.']",-0.3091190448950477,"Founder Jim Hoft, a supporter of Trump and MAGA loyalist, has used the website to promote the Republican frontrunner, while disparaging his opponents.","One ofthelawsuits, filed by two former Georgia election workers, Ruby Freeman and Wandrea “Shaye” Moss, accuses The Gateway Pundit of publishing storiesthatfalsely accusedthem of election fraud, whichthe pairsaid prompted a wave of harassment and threats of violence.",-0.2213330098560878,"Fox News paid a record $787 million to settle a monster defamation lawsuitbrought byDominion Voting Systems, an election technology company.","In a filing in federal bankruptcy court, the outlet’s parent company said it currently has between $500,000 and $1 million in assets — putting it on perilous footing if it were to face a large damages award in a defamation trial.",2024-04-24
-Jamie Dimon fears for the future of the free world and US debt,https://edition.cnn.com/2024/04/24/investing/premarket-stocks-trading/index.html,"
-  Published
-        7:42 AM EDT, Wed April 24, 2024
-    ","A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link.
-    
-            JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world.
-    
-            “The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday.
-    
-            Dimon pointed to the Ukraine war, where “300,000 Russian troops invaded a democratic nation on the border of NATO and threatened nuclear blackmail,” as an example of the unprecedented global climate. “You also have the terrorist activity in Israel, which is now a little bit of a powder keg in the Middle East,” he added.
-    
-            All of this conflict, he said, is affecting “oil, gas, trade and military relationships.”
-    
-            On top of that, he said, the US-China relationship has become even more complex because of their different positions on the war in Ukraine.
-    
-            “The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. “If this doesn’t go the right way, you could easily see a world that goes into more chaos as people realign their allies and relationships.”
-    
-            Dimon said on Tuesday that he was surprised things haven’t gotten worse for oil and gas prices.
-    
-            A recent increase in gas prices is reversing as the Middle East fears gradually unwind. The national average for a gallon of regular fell by a penny to $3.66 a gallon Wednesday, according to AAA. That’s still 13 cents higher than a month ago, but it’s flat from a year ago.
-    
-            “It doesn’t take a lot to send oil and gas prices back up to $120,” he said. US oil currently sits around $83 per barrel.
-    
-            But the current geopolitical landscape, said Dimon, is far more important than the current state of the economy.
-    
-            “I don’t even like talking about them in the same breath,” he said. “One of them is about the future of the free world and one is about something we’re all used to, like the weather.”
-    
-            If Russia does win in Ukraine, said Dimon, NATO — the North Atlantic Treaty Organization founded in 1949 to guarantee the freedom and security of its member states through political and military means — would be tested.
-    
-            “That’s really dangerous,” he said.
-    
-            This is not the first time Dimon has warned that the world is on the brink of a massive realignment.
-    
-            In his annual letter to shareholders earlier this month Dimon rang the alarm, warning that geopolitical worries should come before any economic concerns.
-    
-            A growing deficit: Dimon also expressed concern about the growing US deficit and debt on Tuesday.
-    
-            The country’s national debt is now over $34.5 trillion, or about $103,000 for every American. That means the country spends nearly $2.4 billion in interest each day.
-    
-            Federal Reserve Chair Jerome Powell noted earlier this year that “the US is on an unsustainable fiscal path… the debt is growing faster than the economy.”
-    
-            The US now spends more on debt service than on national defense and security.
-    
-            Historian Niall Ferguson has also warned that empires often collapse when the costs of servicing their debt exceed the costs of national security. “Any great power that’s spending more on debt service than defense is probably not going to be great for much longer,” he said in a recent interview.
-    
-            Dimon, who joked that he would like to be president only if he didn’t have to campaign, referenced Ferguson’s remarks on Tuesday, adding that he worried that excessive government borrowing would keep inflation higher for longer.
-    
-            Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year, reports my colleague Chris Isidore.
-    
-            The company reported a 9% drop in total revenue, which also missed analyst estimates. And its profit margin declined by 2 percentage points.
-    
-            But Tesla heartened some investors by announcing it plans to move ahead with a lower priced model, which it said will go into production in the second half of 2025.
-    
-            Tesla did not give much in the way of details about this new, lower-priced model it is promising, such as a target price or its production volumes. And CEO Elon Musk and Tesla have a history of not living up to timelines on vehicle launches. But the promise that it is still moving ahead with a lower-priced model was assuring news in the wake of reports that it would drop plans for the vehicle altogether.
-    
-            The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. Such a ban could affect tens of millions of workers, reports my colleague Jeanne Sahadi.
-    
-            President Joe Biden soon after the announcement said, “The FTC is cracking down on ‘non-compete agreements,’ contracts that employers use to prevent their workers from changing jobs even if that job will pay a few dollars more, or provide better working conditions. Workers ought to have the right to choose who they want to work for.”
-    
-            The FTC’s decision was the result of a 3-to-2 vote among its five commissioners. The two commissioners who dissented from the majority said they believed the rule to be “unlawful” and “won’t survive legal challenge.” The US Chamber of Commerce has already said it will sue the FTC as early as this week for what it views as the agency exceeding its administrative authority.
-    
-            The FTC estimates that 30 million people – one in five US workers – are bound by a noncompete clause in their current jobs. And for most of them, the agency asserts, such a clause restricts them from freely switching jobs, lowers wages, stifles innovation, blocks entrepreneurs from starting new businesses and undermines fair competition.",CNN,24/04/2024,"['A version of this story first appeared in CNN Business’ Before the Bell newsletter.', 'Not a subscriber?', 'You can sign upright here.', 'You can listen to an audio version of the newsletter by clicking the same link.', 'JPMorgan Chase CEO Jamie Dimon is worried about the future of the free world.', '“The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday.', 'Dimon pointed to the Ukraine war, where “300,000 Russian troops invaded a democratic nation on the border of NATO and threatened nuclear blackmail,” as an example of the unprecedented global climate. “', 'You also have the terrorist activity in Israel, which is now a little bit of apowder keg in the Middle East,” he added.', 'All of this conflict, he said, is affecting “oil, gas, trade and military relationships.”', 'On top of that, he said, the US-China relationship has become even more complex because of their different positions on the war in Ukraine.', '“The world order that formed after WWII, Bretton Woods, WTO [the World Trade Organization], and the UN is kind of being challenged,” he said. “', 'If this doesn’t go the right way, you could easily see a world that goes into more chaos as people realign their allies and relationships.”', 'Dimon said on Tuesday that he was surprised things haven’t gotten worse for oil and gas prices.', 'A recent increase in gas prices is reversing as the Middle East fears gradually unwind.', 'The national average for a gallon of regular fell by a penny to $3.66 a gallon Wednesday, according to AAA.', 'That’s still 13 cents higher than a month ago, but it’s flat from a year ago.', '“It doesn’t take a lot to send oil and gas prices back up to $120,” he said.', 'US oil currently sits around $83 per barrel.', 'But the current geopolitical landscape, said Dimon, is far more important than the current state of the economy.', '“I don’t even like talking about them in the same breath,” he said. “', 'One of them is about the future of the free world and one is about something we’re all used to, like the weather.”', 'If Russia does win in Ukraine, said Dimon, NATO — the North Atlantic Treaty Organization founded in 1949to guarantee the freedom and security of its member states through political and military means — would be tested.', '“That’s really dangerous,” he said.', 'This is not the first time Dimon has warned that the world is on the brink of a massive realignment.', 'In his annual letter to shareholders earlier this month Dimon rang the alarm, warning that geopolitical worries should come before any economic concerns.', 'A growing deficit: Dimon also expressed concern about the growing US deficit and debt on Tuesday.', 'The country’s national debt is now over $34.5 trillion, or about $103,000 for every American.', 'That means the country spends nearly $2.4 billion in interest each day.', 'Federal Reserve Chair Jerome Powell noted earlier this year that “the US is on an unsustainable fiscal path… the debt is growing faster than the economy.”', 'The US now spends more on debt service than on national defense and security.', 'Historian Niall Ferguson has also warned that empires often collapse when the costs of servicing their debt exceed the costs of national security. “', 'Any great power that’s spending more on debt service than defense is probably not going to be great for much longer,” he said in a recent interview.', 'Dimon, who joked that he would like to be president only if he didn’t have to campaign, referenced Ferguson’s remarks on Tuesday, adding that he worried that excessive government borrowing would keep inflation higher for longer.', 'Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year, reports my colleague Chris Isidore.', 'The company reported a 9% drop in total revenue, which also missed analyst estimates.', 'And its profit margin declined by 2 percentage points.', 'But Tesla heartened some investors by announcing it plans to move ahead with a lower priced model, which it said will go into production in the second half of 2025.', 'Tesla did not give much in the way of details about this new, lower-priced model it is promising, such as a target price or its production volumes.', 'And CEO Elon Musk and Tesla have a history of not living up to timelines on vehicle launches.', 'But the promise that it is still moving ahead with a lower-priced model was assuring news in the wake of reports that it would drop plans for the vehicle altogether.', 'The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses.', 'Such a ban could affect tens of millions of workers, reports my colleague Jeanne Sahadi.', 'President Joe Biden soon after the announcement said, “The FTC is cracking down on ‘non-compete agreements,’ contracts that employers use to prevent their workers from changing jobs even if that job will pay a few dollars more, or provide better working conditions.', 'Workers ought to have the right to choose who they want to work for.”', 'The FTC’s decision was the result of a 3-to-2 vote among its five commissioners.', 'The two commissioners who dissented from the majority saidthey believed the rule to be “unlawful” and “won’t survive legal challenge.”', 'The US Chamber of Commerce has already said it will sue the FTC as early as this week for what it views as the agencyexceeding its administrative authority.', 'The FTC estimates that 30 million people – one in five US workers – are bound by a noncompete clause in their current jobs.', 'And for most of them, the agency asserts, such a clause restricts them from freely switching jobs, lowers wages, stifles innovation, blocks entrepreneurs from starting new businesses and undermines fair competition.']",-0.034113441118125,"If Russia does win in Ukraine, said Dimon, NATO — the North Atlantic Treaty Organization founded in 1949to guarantee the freedom and security of its member states through political and military means — would be tested.","“The geopolitical situation is probably the most complicated and dangerous since World War II,” Dimon said during a talk at the Economic Club of New York on Tuesday.",-0.5649945625552425,"But Tesla heartened some investors by announcing it plans to move ahead with a lower priced model, which it said will go into production in the second half of 2025.","Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year, reports my colleague Chris Isidore.",2024-04-24
-UK miner Anglo American says it got buyout proposal from BHP,https://www.bbc.co.uk/news/articles/czrxm4pljlwo,2024-04-25T02:10:41.618Z,"UK-based mining giant Anglo American says it has been approached by larger rival BHP about a potential multi-billion dollar takeover offer. Anglo American told the BBC that the proposal is currently being reviewed by its board of directors but did not reveal the value of the offer. BHP did not immediately respond to a request for comment from the BBC. If the deal goes ahead it would be one of the mining industry's biggest mergers in years. Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - has a stock market value of around £29bn. Australian-based BHP is the world’s largest publicly listed mining company with a  market valuation of about A$229bn ($149bn; £119.5bn). The move comes a year after BHP bought copper producer Oz Minerals for A$9.6bn ($6.2bn; £5bn). If finalised, the deal would increase BHP's access to copper, through Anglo American's operations in South America. The price of copper has risen on the global markets by more than 15% this year. Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""Anglo American's existing footprint in the copper industry is ultimately what lured a mining giant such as BHP,"" Tim Waterer, chief market analyst at financial services firm KCM Trade told the BBC. Anglo American's share price has fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added. BHP's proposal makes any offer conditional on Anglo American giving up its stake in platinum and iron ore operations in South Africa. Under the UK's merger and acquisition rules, BHP has until 22 May to make a formal offer for Anglo American. ",BBC,25/04/2024,"['UK-based mining giant Anglo American says it has been approached by larger rival BHP about a potential multi-billion dollar takeover offer.', 'Anglo American told the BBC that the proposal is currently being reviewed by its board of directors but did not reveal the value of the offer.', 'BHP did not immediately respond to a request for comment from the BBC.', ""If the deal goes ahead it would be one of the mining industry's biggest mergers in years."", 'Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - has a stock market value of around £29bn.', 'Australian-based BHP is the world’s largest publicly listed mining company with a market valuation of about A$229bn ($149bn; £119.5bn).', 'The move comes a year after BHP bought copper producer Oz Minerals for A$9.6bn ($6.2bn; £5bn).', ""If finalised, the deal would increase BHP's access to copper, through Anglo American's operations in South America."", 'The price of copper has risen on the global markets by more than 15% this year.', 'Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""', 'Anglo American\'s existing footprint in the copper industry is ultimately what lured a mining giant such as BHP,"" Tim Waterer, chief market analyst at financial services firm KCM Trade told the BBC.', ""Anglo American's share price has fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added."", ""BHP's proposal makes any offer conditional on Anglo American giving up its stake in platinum and iron ore operations in South Africa."", ""Under the UK's merger and acquisition rules, BHP has until 22 May to make a formal offer for Anglo American.""]",0.1310630099933753,"Anglo American - which operates mines in countries like Chile, South Africa, Brazil and Australia - has a stock market value of around £29bn.",Anglo American told the BBC that the proposal is currently being reviewed by its board of directors but did not reveal the value of the offer.,0.6018389105796814,"Prices have jumped due to the metal being in high demand as the shift to clean energy accelerates. ""","Anglo American's share price has fallen by almost 10% in the last year, which could have helped make it an even more attractive takeover target, Mr Waterer added.",2024-04-24
-Do women-only co-working spaces have a future?,https://www.bbc.co.uk/news/business-68733573,2024-04-23T23:25:42.000Z,"Women-only business networking and co-working clubs like Chief in London and The Co-Working Space in Nottingham have recently closed their doors. The concept gained a lot of traction around the height of the MeToo movement. Some women find the idea a step backwards, but for others these clubs are a way to level the playing field. The idea of men-only ""gentlemen's clubs"" is well established, with centuries-old places like White's and The Garrick Club in London. But women-only ones have been on the rise too over the past decade, often with a twist - they focus on the idea of co-working. Co-working spaces are big, open-plan offices with hot desks and nice amenities where people can come and work on a membership basis. They have grown in popularity as remote working has become easier.  Women-only co-working spaces hit the headlines about eight years ago thanks to The Wing in the US. It was founded in New York by Audrey Gelman, former press secretary to Hillary Clinton, against the backdrop of the MeToo movement and Donald Trump's rise to power. It raised millions in funding, with a promise of female empowerment.  But then it suffered a spectacular fall during the pandemic. There was a staff revolt, with allegations of mistreatment and racism. Its pricing model led to accusations of social exclusivity. It was also hit by legal challenges for sexual discrimination over its core women-only membership policy. The self-proclaimed ""female utopia"" abruptly closed all of its spaces in the summer of 2022, including a branch in London. Despite the demise of The Wing, other women-only co-working spaces are still operating. There are about 50 in Europe, including several in the UK. One such place is The Hearth, in north London. Bonnie Lister Parsons, founder of SOS Dance Global, a digital platform that teaches women how to dance, is a regular. So why is she a member? It's been challenging growing her business as a woman, she explains, as only about 2% of venture capital funding goes to female-led companies. ""When you are operating in a world with a lot of headwinds, being in an all-female space is refreshing - and joyful,"" she says. She also says she wasn't impressed by her tour of the co-working space WeWork, where they were keen to boast about the free beer on tap: ""For the guy showing me round it was a massive selling point. I know not all women dislike beer, but personally, I couldn't care less.""  Audrey Gelman, founder of The Wing, used to argue that rival co-working spaces had ""pumps for beer, but not for breast milk"".  The Hearth is designed to feel like ""your dream home"", according to its founder Oi Leng Lui. The walls and furnishings are relaxing, pastel colours and an aromatic smell is pumped into the space where women hot desk. There is even a wellness room. Susie Campbell, a business adviser and coach, is another regular. ""I used to work in the City for many years - a very male-dominated environment,"" she explains. ""The air conditioning was always down too low... there's something just really safe here and a sense of community."" There are a handful of other women-only co-working spaces in the UK, including Egg in Edinburgh and Maven in Winchester, a former bridal shop which the owner decided to convert.  Zoe Ellis-Moore is the founder of Spaces to Places, which advises companies on how to find the best flexible office space. Women-only co-working spaces should be seen as part of a wider trend of people wanting to work flexibly in ""tribes"", she says. ""We've seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies."" Start-ups and freelancers want to work flexibly, but with a community of like-minded people, she points out, and women-only spaces represent a tribe, just like these. In 2017, the New York City Commission on Human Rights launched an investigation into The Wing over the issue of gender discrimination and the following year, a man filed a lawsuit against The Wing in Washington DC after he was refused admission.   The Wing adapted its membership rules to say that anyone could join, as long as they were committed to its mission of supporting women.  Other women-only spaces in the US followed suit.  The Coven in Minnesota started in 2018 as a women-only space after a successful crowdfunding campaign and now has four spaces. It has 1,000 members but men now make up about 20% of that figure. ""We were hearing from members that they wanted to invite more of their male friends into the space,"" says Erin Farrell, co-founder of The Coven, ""which led us to think, when we talk about physical and psychological safety, how tied to gender is that?""  Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.  Those that choose to join tend to be ""allies and accomplices"", she adds, and the clubs' amenities and programme of events remain women-focused. So where does this leave women-only spaces in the UK? ""Equality legislation in the UK [enshrined in the Equality Act] generally protects against discrimination based on gender in the supply of services,"" according to Sarah Evans, partner at Constantine Law, which specialises in employment and discrimination law, ""but there are exceptions, including for associations, groups and private clubs.""  ""Criteria apply, but women-only co-working groups, with the aim of supporting and facilitating women doing business together, are highly unlikely to fall foul of anti-discrimination laws,"" she says. The other pressing question is, are these spaces empowering women in the long term? Some workplace experts are not convinced. ""While women-only spaces can provide temporary relief from conflict, judgement, assumptions, and distractions,"" says Blaire Palmer, leadership consultant and author of Punks in Suits, ""it is vital that we all learn how to challenge each other and develop the skills to bring our unique perspective to our work.  ""Women-only spaces are useful for exploring, in a safer environment, the challenges of being a woman in what is still not a level playing field, but they should never become a place to hide permanently."" However, others think that women-only work clubs are counterproductive. ""Women-only co-working spaces are a step backwards,"" according to Anne Kirby, who set up The Candy Factory co-working space in Pennsylvania. ""Yes, women have unique challenges and are at a disadvantage in the business world, but how does removing yourself from real life get you anywhere? How can we expect men to understand the need for respect and equality if we subtract them from our daily work lives? ""We're working to disrupt the 'good ol' boys club' mentality; why create the same thing for women?""  Back downstairs at The Hearth, a lunch-and-learn workshop is taking place. The women who were working away on their laptops are now sitting in a square listening to a talk by Elena Megan, a self-discovery and mindset coach.  An audience member shares a story that perhaps explains the attraction of a women-only co-working space like this for some. She says she has always struggled to network with men because she feels they do not treat her like an equal professional.  The other members nod and murmur in agreement. ",BBC,23/04/2024,"['Women-only business networking and co-working clubs like Chief in London and The Co-Working Space in Nottingham have recently closed their doors.', 'The concept gained a lot of traction around the height of the MeToo movement.', 'Some women find the idea a step backwards, but for others these clubs are a way to level the playing field.', 'The idea of men-only ""gentlemen\'s clubs"" is well established, with centuries-old places like White\'s and The Garrick Club in London.', 'But women-only ones have been on the rise too over the past decade, often with a twist - they focus on the idea of co-working.', 'Co-working spaces are big, open-plan offices with hot desks and nice amenities where people can come and work on a membership basis.', 'They have grown in popularity as remote working has become easier.', 'Women-only co-working spaces hit the headlines about eight years ago thanks to The Wing in the US.', ""It was founded in New York by Audrey Gelman, former press secretary to Hillary Clinton, against the backdrop of the MeToo movement and Donald Trump's rise to power."", 'It raised millions in funding, with a promise of female empowerment.', 'But then it suffered a spectacular fall during the pandemic.', 'There was a staff revolt, with allegations of mistreatment and racism.', 'Its pricing model led to accusations of social exclusivity.', 'It was also hit by legal challenges for sexual discrimination over its core women-only membership policy.', 'The self-proclaimed ""female utopia"" abruptly closed all of its spaces in the summer of 2022, including a branch in London.', 'Despite the demise of The Wing, other women-only co-working spaces are still operating.', 'There are about 50 in Europe, including several in the UK.', 'One such place is The Hearth, in north London.', 'Bonnie Lister Parsons, founder of SOS Dance Global, a digital platform that teaches women how to dance, is a regular.', 'So why is she a member?', 'It\'s been challenging growing her business as a woman, she explains, as only about 2% of venture capital funding goes to female-led companies. ""', 'When you are operating in a world with a lot of headwinds, being in an all-female space is refreshing - and joyful,"" she says.', 'She also says she wasn\'t impressed by her tour of the co-working space WeWork, where they were keen to boast about the free beer on tap: ""For the guy showing me round it was a massive selling point.', 'I know not all women dislike beer, but personally, I couldn\'t care less.""', 'Audrey Gelman, founder of The Wing, used to argue that rival co-working spaces had ""pumps for beer, but not for breast milk"".', 'The Hearth is designed to feel like ""your dream home"", according to its founder Oi Leng Lui.', 'The walls and furnishings are relaxing, pastel colours and an aromatic smell is pumped into the space where women hot desk.', 'There is even a wellness room.', 'Susie Campbell, a business adviser and coach, is another regular. ""', 'I used to work in the City for many years - a very male-dominated environment,"" she explains. ""', 'The air conditioning was always down too low... there\'s something just really safe here and a sense of community.""', 'There are a handful of other women-only co-working spaces in the UK, including Egg in Edinburgh and Maven in Winchester, a former bridal shop which the owner decided to convert.', 'Zoe Ellis-Moore is the founder of Spaces to Places, which advises companies on how to find the best flexible office space.', 'Women-only co-working spaces should be seen as part of a wider trend of people wanting to work flexibly in ""tribes"", she says. ""', 'We\'ve seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies.""', 'Start-ups and freelancers want to work flexibly, but with a community of like-minded people, she points out, and women-only spaces represent a tribe, just like these.', 'In 2017, the New York City Commission on Human Rights launched an investigation into The Wing over the issue of gender discrimination and the following year, a man filed a lawsuit against The Wing in Washington DC after he was refused admission.', 'The Wing adapted its membership rules to say that anyone could join, as long as they were committed to its mission of supporting women.', 'Other women-only spaces in the US followed suit.', 'The Coven in Minnesota started in 2018 as a women-only space after a successful crowdfunding campaign and now has four spaces.', 'It has 1,000 members but men now make up about 20% of that figure. ""', 'We were hearing from members that they wanted to invite more of their male friends into the space,"" says Erin Farrell, co-founder of The Coven, ""which led us to think, when we talk about physical and psychological safety, how tied to gender is that?""', 'Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.', 'Those that choose to join tend to be ""allies and accomplices"", she adds, and the clubs\' amenities and programme of events remain women-focused.', 'So where does this leave women-only spaces in the UK? ""', 'Equality legislation in the UK [enshrined in the Equality Act] generally protects against discrimination based on gender in the supply of services,"" according to Sarah Evans, partner at Constantine Law, which specialises in employment and discrimination law, ""but there are exceptions, including for associations, groups and private clubs."" ""', 'Criteria apply, but women-only co-working groups, with the aim of supporting and facilitating women doing business together, are highly unlikely to fall foul of anti-discrimination laws,"" she says.', 'The other pressing question is, are these spaces empowering women in the long term?', 'Some workplace experts are not convinced. ""', 'While women-only spaces can provide temporary relief from conflict, judgement, assumptions, and distractions,"" says Blaire Palmer, leadership consultant and author of Punks in Suits, ""it is vital that we all learn how to challenge each other and develop the skills to bring our unique perspective to our work. ""', 'Women-only spaces are useful for exploring, in a safer environment, the challenges of being a woman in what is still not a level playing field, but they should never become a place to hide permanently.""', 'However, others think that women-only work clubs are counterproductive. ""', 'Women-only co-working spaces are a step backwards,"" according to Anne Kirby, who set up The Candy Factory co-working space in Pennsylvania. ""', 'Yes, women have unique challenges and are at a disadvantage in the business world, but how does removing yourself from real life get you anywhere?', 'How can we expect men to understand the need for respect and equality if we subtract them from our daily work lives? ""', 'We\'re working to disrupt the \'goodol\' boys club\' mentality; why create the same thing for women?""', 'Back downstairs at The Hearth, a lunch-and-learn workshop is taking place.', 'The women who were working away on their laptops are now sitting in a square listening to a talk by Elena Megan, a self-discovery and mindset coach.', 'An audience member shares a story that perhaps explains the attraction of a women-only co-working space like this for some.', 'She says she has always struggled to network with men because she feels they do not treat her like an equal professional.', 'The other members nod and murmur in agreement.']",0.226144467537617,"Ms Farrell says they were aware of the legal challenges that The Wing was facing, but their own language never excluded men, it was always just women-focused, so accepting men was not a significant issue.",She says she has always struggled to network with men because she feels they do not treat her like an equal professional.,-0.0436989710881159,"We've seen a huge growth in these niche areas,"" she says, ""like spaces for tech start-ups or flexible catering spaces for hospitality companies.""",But then it suffered a spectacular fall during the pandemic.,2024-04-24
-Apple announces its annual developers conference is set for June 10,https://edition.cnn.com/2024/03/26/tech/apple-annual-developers-conference-june-10/index.html,"
-  Updated
-        2:20 PM EDT, Tue March 26, 2024
-    ","Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.
-    
-            The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.
-    
-            Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts. The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.
-    
-            As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space. A partnership with Google would catapult Apple into the growing AI arms race.
-    
-            Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1. A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.
-    
-            In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.",CNN,26/03/2024,"['Apple announced its annual Worldwide Developer Conference will kick off on June 10, when the company is expected to show off its latest AI advancements.', 'The conference, which is widely anticipated each year as a major showcase for Apple software news, will run Monday, June 10 through Friday, June 14.', 'Although last year’s WWDC focused on the unveiling of the Vision Pro mixed reality headset, which launched in stores in February, this year is expected to turn to Apple’s AI efforts.', 'The company is reportedly interested in licensing and building Google’s Gemini AI engine, which includes chatbots and other AI tools, into upcoming iPhones and its iOS 18 features.', 'As more tech companies pour billions of dollars into the development and rollout of artificial intelligence, Apple has largely been left out of the conversation, with many other tech companies making big strides in the space.', 'A partnership with Google would catapult Apple into the growing AI arms race.', 'Apple researchers also recently said they’ve developed a family of multimodal models — which refers to an AI system that can interpret and generate different types of data, such as text and images at the same time — called MM1.', 'A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.', 'In a press release on Tuesday, the company said WWDC 2024 will also share software updates coming to the iPhone, iPad, Mac, Apple Watch, Apple TV and Vision Pro headset.']",0.3259092919755588,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,0.9975101351737976,A report from those researchers said those new methods boast “superior abilities” and can offer advanced reasoning and in-context learning to respond to text and images.,,2024-04-24
-Post Office boss Nick Read obsessed with pay says ex-HR chief,https://www.bbc.co.uk/news/business-68883821,2024-04-23T20:13:38.000Z,"Post Office boss Nick Read was ""obsessed with his pay"" and made threats to resign over the issue, the firm's former HR director has claimed. When Jane Davies didn't manage to get him a pay increase above 5%, Mr Read started a ""deliberate campaign to defame and ostracise"" her, she said. But the Post Office said a report last week had ""fully exonerated"" Mr Read. It added that claims made by Ms Davies and ex-chair Henry Staunton had been ""discredited"". The revelations are the latest in an ongoing disagreement between Ms Davies and Mr Staunton on one hand, and the Post Office and the government on the other. They are separate from the Post Office Horizon scandal, but the dispute was made public in hearings about compensation for sub-postmasters. Last week, Mr Read was cleared of all misconduct allegations following an investigation carried out by an external barrister, the results of which have not been published.  Mr Staunton revealed the existence of the investigation during a Business and Trade committee hearing on 27 February. He claimed that Nick Read had considered leaving his role on several occasions and was unhappy with his pay. At the time the Post Office said that Mr Read had never tendered his resignation. But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay. Mr Read had a request for a pay increase in November 2022 turned down by then business secretary Grant Shapps, after two similar requests ""backed up in each case by threats to resign"" were turned down in the preceding year. ""I noted a board member saying to me: 'Nick had cried wolf at least 3 times',"" Ms Davies wrote. She said there were more than 30 email or Microsoft Teams exchanges in December and January 2023 concerning Mr Read's pay, one of which asked ""can the business afford to be rudderless""? In January 2023 Mr Read was ""prepared to submit a formal grievance and or make a claim for constructive dismissal"" after leaving, Ms Davies said. Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out of the Horizon scandal and declining revenues. His salary for 2022-23 stood at £573,000, including bonuses. The year before, he earned £816,000, of which £415,000 was salary and the rest bonus. This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry. In the year 2020-21, he did not get a bonus, and was paid £415,000. Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower. However, the average award for FTSE 100 bosses stands at £3.81m per year. Ms Davies said Mr Read was ""obsessed with his pay, to such an extent that it was a huge distraction from me establishing myself in my new position and performing the duties that were set out in my job description"". She said he was offered a 5% pay rise but found it ""insulting"". ""As a result, he regarded me a failure for not getting the remuneration increase,"" she said. ""What followed was a deliberate campaign to defame and ostracise me,"" she said. She added that a bullying complaint had been made about Mr Read, not Mr Staunton. Ms Davies also accused the Post Office of ""dragging their heels"" and ""misinterpreting"" her complaint which became the basis of the misconduct investigation into Mr Read. She said the Post Office had tried to present her complaint as being about other people, including Henry Staunton, when it was actually ""concerned with Nick Read, and Nick Read alone"". ""The fact the POL [Post Office] has ignored my attempts to set the record straight and persisted with its own distorted interpretation (and has indeed privately warned me using the word ""misrepresentation"" in this context) does not give me confidence in the integrity of this investigation"", Ms Davies said.  She added that ""it feels to me that POL have deliberately widened the scope of their investigation to suit another agenda"". Ms Davies added she was not issued with the terms of reference for the investigation despite giving it her full cooperation and travelling hundreds of miles to meet with the investigator. A letter to the committee from Mr Staunton was also published on Tuesday in which he said the complaint by Ms Davies had been ""directed at Nick Read and Nick Read alone"", rather than Mr Staunton. However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"". Following the conclusion of her investigation last week, barrister Marianne Tutin of Devereux Chambers said she was able to approach her inquiry independently in a ""fair, thorough and proportionate"" manner.  ""I was...not placed under any pressure as to what to investigate, or not to investigate, or what findings of fact or recommendations should, or should not, be made,"" she said. Jane Davies has declined to comment.  ",BBC,23/04/2024,"['Post Office boss Nick Read was ""obsessed with his pay"" and made threats to resign over the issue, the firm\'s former HR director has claimed.', 'When Jane Davies didn\'t manage to get him a pay increase above 5%, Mr Read started a ""deliberate campaign to defame and ostracise"" her, she said.', 'But the Post Office said a report last week had ""fully exonerated"" Mr Read.', 'It added that claims made by Ms Davies and ex-chair Henry Staunton had been ""discredited"".', 'The revelations are the latest in an ongoing disagreement between Ms Davies and Mr Staunton on one hand, and the Post Office and the government on the other.', 'They are separate from the Post Office Horizon scandal, but the dispute was made public in hearings about compensation for sub-postmasters.', 'Last week, Mr Read was cleared of all misconduct allegations following an investigation carried out by an external barrister, the results of which have not been published.', 'Mr Staunton revealed the existence of the investigation during a Business and Trade committee hearing on 27 February.', 'He claimed that Nick Read had considered leaving his role on several occasions and was unhappy with his pay.', 'At the time the Post Office said that Mr Read had never tendered his resignation.', 'But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay.', 'Mr Read had a request for a pay increase in November 2022 turned down by then business secretary Grant Shapps, after two similar requests ""backed up in each case by threats to resign"" were turned down in the preceding year. ""', 'I noted a board member saying to me: \'Nick had cried wolf at least 3 times\',"" Ms Davies wrote.', 'She said there were more than 30 email or Microsoft Teams exchanges in December and January 2023 concerning Mr Read\'s pay, one of which asked ""can the business afford to be rudderless""?', 'In January 2023 Mr Read was ""prepared to submit a formal grievance and or make a claim for constructive dismissal"" after leaving, Ms Davies said.', 'Nick Read became chief executive of the Post Office in 2019 as the organisation dealt with the fall-out of the Horizon scandal and declining revenues.', 'His salary for 2022-23 stood at £573,000, including bonuses.', 'The year before, he earned £816,000, of which £415,000 was salary and the rest bonus.', ""This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry."", 'In the year 2020-21, he did not get a bonus, and was paid £415,000.', 'Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.', 'However, the average award for FTSE 100 bosses stands at £3.81m per year.', 'Ms Davies said Mr Read was ""obsessed with his pay, to such an extent that it was a huge distraction from me establishing myself in my new position and performing the duties that were set out in my job description"".', 'She said he was offered a 5% pay rise but found it ""insulting"". ""', 'As a result, he regarded me a failure for not getting the remuneration increase,"" she said. ""', 'What followed was a deliberate campaign to defame and ostracise me,"" she said.', 'She added that a bullying complaint had been made about Mr Read, not Mr Staunton.', 'Ms Davies also accused the Post Office of ""dragging their heels"" and ""misinterpreting"" her complaint which became the basis of the misconduct investigation into Mr Read.', 'She said the Post Office had tried to present her complaint as being about other people, including Henry Staunton, when it was actually ""concerned with Nick Read, and Nick Read alone"". ""', 'The fact the POL [Post Office] has ignored my attempts to set the record straight and persisted with its own distorted interpretation (and has indeed privately warned me using the word ""misrepresentation"" in this context) does not give me confidence in the integrity of this investigation"", Ms Davies said.', 'She added that ""it feels to me that POL have deliberately widened the scope of their investigation to suit another agenda"".', 'Ms Davies added she was not issued with the terms of reference for the investigation despite giving it her full cooperation and travelling hundreds of miles to meet with the investigator.', 'A letter to the committee from Mr Staunton was also published on Tuesday in which he said the complaint by Ms Davies had been ""directed at Nick Read and Nick Read alone"", rather than Mr Staunton.', 'However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"".', 'Following the conclusion of her investigation last week, barrister Marianne Tutin of Devereux Chambers said she was able to approach her inquiry independently in a ""fair, thorough and proportionate"" manner. ""', 'I was...not placed under any pressure as to what to investigate, or not to investigate, or what findings of fact or recommendations should, or should not, be made,"" she said.', 'Jane Davies has declined to comment.']",-0.1599557913312917,"This reflects the fact he agreed to repay a £54,500 portion of his bonus that was linked to the Post Office's participation in the official inquiry.","But in a letter to the committee published on Tuesday, Ms Davies said Mr Read had made repeated threats to resign over his pay.",-0.525249604667936,"However, the Post Office said a ""highly reputable"" barrister had ""produced an extensive, robust, and impartial report that fully exonerated Nick Read of all the misconduct allegations levelled against him, and in so doing discredited many of the claims raised in these letters"".","Even without being doubled, this salary looks high compared with the annual median UK wage of £34,963, while the average takings for sub-postmasters is lower.",2024-04-24
-How to make high interest rates work for your hard-earned savings,https://edition.cnn.com/2024/03/20/success/interest-rates-savings-cash/index.html,"
-  Published
-        3:00 PM EDT, Wed March 20, 2024
-    ","The Federal Reserve’s benchmark interest rate remains at a 23-year high. That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.
-    
-            That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).
-    
-            But with the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.
-    
-            That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.
-    
-            However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing. There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “If one of those fits into your financial plans, it’s best to act soon.”
-    
-            So, consider the following options when deciding where to park your hard-earned savings.
-    
-            The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate. That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.
-    
-            By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts. Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.
-    
-            Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.
-    
-            While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.
-    
-            As with any bank savings rate, high-yield savings account rates can change overnight, and the bank may not alert you when it lowers it. So make sure to check your monthly statement.
-    
-            Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.
-    
-            You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity. That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.
-    
-            As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.
-    
-            If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.
-    
-            To get the greatest benefit from a CD, you have to leave the money invested for a fixed period. You can always access your principal sooner if you need to, but there may be early withdrawal penalties.
-    
-            As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%. CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.
-    
-            Say you invest $10,000 in a one-year CD with a 5.36% APY. At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator. If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest. The same investment in a five-year CD at 5.15% would earn $2,854.
-    
-            “It makes sense to go long with CDs. To hedge your bets, include terms from one to five years. Starting a CD ladder will provide this mix,” Tumin said.
-    
-            If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.
-    
-            For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs. Or, at Bank of America, you can get up to 4.75% on a 7-month CD.
-    
-            But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.
-    
-            If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.
-    
-            Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.
-    
-            But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments. As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.
-    
-            Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC. But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.
-    
-            Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.
-    
-            Three- and six-month bills had yields of 5.39% and 5.33% respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08% respectively, according to rates posted on Schwab.com for a $25,000 investment. Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.
-    
-            If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov. But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.
-    
-            And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said. An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%. Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.
-    
-            When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.
-    
-            What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?” Smith said.
-    
-            That means balancing your desire for great yield with a need and desire for ease of access without penalty. Translation: Don’t chase yield for yield’s sake.
-    
-            Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “Most of the time convenience is really important. Give up the 0.1%,” he advised.",CNN,20/03/2024,"['The Federal Reserve’s benchmark interest rate remains at a 23-year high.', 'That’s thanks to the central bank’s decision Wednesday to once again hold it steady, as it has done at the policy-making committee’s past five meetings.', 'That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).', 'Butwith the Fed signaling that no rate cuts are likely until summer, it also means anyone with savings still has at least a few more months to make hay of their stash.', 'That’s because you can still get inflation-beating interest rates that will grow any money you have set aside for emergencies, vacations, down payments or any other goal in your sights over the next several years.', 'However, that won’t happen if you just let it sit in a traditional checking or savings account that yields next to nothing.', 'There are more lucrative, low-risk options out there, with rates that are still at or near their peaks. “', 'But perhaps not for much longer,” said Ted Rossman, senior analyst at Bankrate. “', 'If one of those fits into your financial plans, it’s best to act soon.”', 'So, consider the following options when deciding where to park your hard-earned savings.', 'The average annual percentage yield on bank savings accounts was just 0.52% as of March 13, according to Bankrate.', 'That average is kept low by the biggest brick-and-mortar banks like JPMorgan Chase and Bank of America, which still are offering a paltry 0.01%.', 'By contrast, there are still FDIC-insured online banks offering inflation-beating rates of between 4.35% and 5.35% on their high-yield savings accounts.', 'Generally speaking, these are the best vehicles in which to keep your emergency funds for quick, easy access.', 'Choosing between an account that pays 0.52% and one that pays 5.35% can mean forfeiting hundreds of dollars in interest. “', 'If you put $10,000 in a savings account, that’s a difference of $496 in interest earnings over the course of the year, assuming monthly compounding,” Rossman said.', 'While the rates on high-yield savings accounts have gone down a bit in recent months, “widespread cuts in online savings account rates are unlikely until the first Fed rate cut is near,” said Ken Tumin, founder of DepositAccounts.com.', 'As with any bank savings rate, high-yield savings accountratescan change overnight, and the bank may not alert you when it lowers it.', 'So make sure to check your monthly statement.', 'Another high-return, low-risk investment that is great for money you likely won’t need to tap for a few months or even a couple of years is a certificate of deposit.', 'You can get the best returns on CDs through a brokerage such as Schwab, E*Trade or Fidelity.', 'That’s because you can comparison shop for CDs from any number of FDIC-insured banks and will not have to set up individual accounts with each institution.', 'As of March 13, the average rate on a one-year CD was 1.95%, but some banks are offering as much are 5.4%.', 'If you can get a one-year CD at, say, 5.4%, you will make $540 on a $10,000 investment.', 'To get the greatest benefit from a CD, you have to leave the money invested for a fixed period.', 'You can always access your principal sooner if you need to, but there may be early withdrawal penalties.', 'As of March 20, CDs listed on Schwab.com with durations from three months up to three years were all yielding between 5.2% and 5.51%.', 'CD rates on durations between four and 10 years ranged from 4.40% to 5.15%.', 'Say you invest $10,000 in a one-year CD with a 5.36%APY.', 'At the end of that period, you’d get your principal back plus $536 in interest when the CD matures, according to Bankrate’s CD calculator.', 'If you chose a two-year CD at 5.25%, you’d bank an extra $1,078, assuming compounding interest.', 'The same investment in a five-year CD at 5.15% would earn $2,854.', '“It makes sense to go long with CDs.', 'To hedge your bets, include terms from one to five years.', 'Starting a CD ladder will provide this mix,” Tumin said.', 'If you don’t go through a brokerage you may get a reasonable deal from your primary bank, Tumin said.', 'For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.', 'Or, at Bank of America, you can get up to 4.75% on a 7-month CD.', 'But Tumin cautions that with any big bank CD you should take your money out at the end of the term, otherwise your bank may automatically renew it and lock you in to a much lower-yielding CD.', 'If you don’t want to set up an online savings account at another bank, your own bank may offer you a money market deposit account that pays a higher yield than your regular checking or savings accounts.', 'Money market accounts may have higher minimum deposit requirements than a regular savings account, but they are more liquid than a fixed-term certificate of deposit or Treasury bill, meaning they give you access to your money more quickly while still potentially giving you some of the highest yields available, said Doug Ornstein, senior manager for integrated solutions at TIAA Wealth Management.', 'But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.', 'As of March 19, they had an average 7-day yield of 5.14%, according to the Crane Money Fund Index, which tracks the top 100 taxable money market funds.', 'Unlike money market deposit accounts, money market mutual funds are not insured by the FDIC.', 'But if you invest in a money market fund through a brokerage, your overall account is likely to be insured through the Securities Investor Protection Corp, which offers protection in the event your brokerage ever goes under.', 'Another option for money you can leave untouched anywhere from several months to a few years is to buy short-term Treasury bills and medium-term notes, which are backed by the full faith and credit of the United States.', 'Three- and six-month bills had yields of 5.39% and 5.33%respectively on March 20 before the Fed’s meeting ended, while nine-month and one-year bills were offering 5.19% and 5.08%respectively, according to rates posted on Schwab.com for a $25,000 investment.', 'Rates on Treasury notes with durations from two years to 10 years ranged between 4.29% and 4.72%.', 'If you’re someone who manages your portfolio like a hawk, you may feel comfortable buying T-bills on your own from TreasuryDirect.gov.', 'But if you don’t, it might be easier just to buy new issues through your brokerage account or invest in a short-term bond index fund or ETF, said Andy Smith, executive director of financial planning at Edelman Financial Engines.', 'And if you’re looking at money that will be needed in three to five years, you might consider a diversified fund of highly rated government and corporate bonds, Ornstein said.', 'An 18-month AAA-rated corporate bond, for instance, was yielding 4.82% this week, while the three-year was at 4.49%.', 'Meanwhile, three-year AAA-rated municipal bonds (which are issued by local governments) had a rate of 3.98%, according to Schwab.com.', 'When deciding on the best accounts and investments for your specific goals and peace of mind, it may pay to consult a fee-only fiduciary adviser — meaning, someone who doesn’t get paid a commission to sell you a particular investment.', 'What you’ll always want to do is build in flexibility for yourself so you can easily access cash, regardless of your timeline for key goals. “', 'What happens if something changes and you need that down payment a lot sooner — or your parents need medical care fast?”', 'Smith said.', 'That means balancing your desire for great yield with a need and desire for ease of access without penalty.', 'Translation: Don’t chase yield for yield’s sake.', 'Think of it this way, Ornstein said: Unless you have huge sums to invest or are an institutional investor, the difference between getting a 5.1% yield versus 5% is negligible, and in fact it could even cost you more if there are penalties for taking your money out early. “', 'Most of the time convenience is really important.', 'Give up the 0.1%,” he advised.']",0.1607169988950149,That means balancing your desire for great yield with a need and desire for ease of access without penalty.,"But don’t confuse money market accounts with money market mutual funds, which invest in short-term, low-risk debt instruments.",0.3840319812297821,"For example, he noted, Wells Fargo is still offering up to 5.01% on both 4-month and 7-month CDs.","That decision may be disappointing to some investors, homebuyers and those with a lot of credit card debt, since movement in the Fed’s overnight lending rate influences rates — directly or indirectly — on consumer financial products (e.g., credit cards, bank loans and mortgages).",2024-04-24
-"Judge approves multimillion-dollar Realtor settlement, upending the way Americans buy and sell homes",https://edition.cnn.com/2024/04/24/homes/nar-settlement-broker-commissions-approval/index.html,"
-  Updated
-        4:27 PM EDT, Wed April 24, 2024
-    ","A federal judge gave a green light to the National Association of Realtors’ settlement, paving the way for an overhaul of the way people buy and sell their homes in the United States.
-    
-            On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a Missouri court. A final approval hearing is set for November 26.
-    
-            Housing experts say the settlement may effectively demolish the current real estate business model. Under the current system, home sellers pay the full commission, usually 5% or 6%, which is generally shared between the agent representing the seller and an agent representing the buyer. Critics say this practice inflates housing prices.
-    
-            In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”
-    
-            “It has always been NAR’s goal to resolve this litigation in a way that preserves consumer choice and protects our members to the greatest extent possible,” the spokesperson said. “This proposed settlement achieves both of those goals and provides a path for us to move forward and continue our work to preserve, protect, and advance the right to real property for all.”
-    
-            Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws.
-    
-            Under the terms of settlement, which was announced in March, sellers’ agents will no longer be required to offer commissions to buyers’ agents.
-    
-            While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they will become competitive and negotiable.
-    
-            However, some in the real estate field warn that the change could raise costs for homebuyers, who are already shelling out a large chunk of money for what is often the largest purchase of their lives. If sellers are no longer paying buyers’ agents, homebuyers may be on the hook to pay their broker directly.
-    
-            The NAR said changes are slated to take effect in late July, but the mere prospect of the rule change has already caused some Americans to change the way they buy and sell homes. One home seller in Minnesota, Matt Hanley, told CNN last month that when he lists his home this spring, he plans to offer a 0% commission to the buyer’s agent, effectively forcing a potential buyer to negotiate their agents’ commission on their own.
-    
-            “Why wait for the settlement? This is common knowledge now,” Hanley said. “I’m going to try to be at the start of this bell curve.”",CNN,24/04/2024,"['A federal judge gave a green light to the National Association of Realtors’ settlement, paving the way for an overhaul of the way people buy and sell their homes in the United States.', 'On Tuesday, Judge Stephen Bough granted preliminary approval to the $418 million antitrust settlement in a Missouri court.', 'A final approval hearing is set for November 26.', 'Housing experts say the settlement may effectively demolish the current real estate business model.', 'Under the current system, home sellers pay the full commission, usually 5% or 6%, which is generally shared between the agent representing the seller and an agent representing the buyer.', 'Critics say this practice inflates housing prices.', 'In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”', '“It has always been NAR’s goal to resolve this litigation in a way that preserves consumer choice and protects our members to the greatest extent possible,” the spokesperson said. “', 'This proposed settlement achieves both of those goals and provides a path for us to move forward and continue our work to preserve, protect, and advance the right to real property for all.”', 'Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws.', 'Under the terms of settlement, which was announced in March, sellers’ agents will no longer be required to offer commissions to buyers’ agents.', 'While the settlement does not explicitly spell the end of the traditional 6% commission, split between the seller’s agent and the buyer’s agent, commissions are expected to fall because they will become competitive and negotiable.', 'However, some in the real estate field warn that the change could raise costs for homebuyers, who are already shelling out a large chunk of money for what is often the largest purchase of their lives.', 'If sellers are no longer paying buyers’ agents, homebuyers may be on the hook to pay their broker directly.', 'The NAR said changes are slated to take effect in late July, but the mere prospect of the rule change has already caused some Americans to change the way they buy and sell homes.', 'One home seller in Minnesota, Matt Hanley, told CNN last month that when he lists his home this spring, he plans to offer a 0% commission to the buyer’s agent, effectively forcing a potential buyer to negotiate their agents’ commission on their own.', '“Why wait for the settlement?', 'This is common knowledge now,” Hanley said. “', 'I’m going to try to be at the start of this bell curve.”']",0.1951286047167594,"In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”","Groups of home sellers brought lawsuits against the NAR for its standard commission structure, saying it was a violation of antitrust laws.",0.0231446206569671,"In a statement to CNN, an NAR spokesperson said it was “pleased that the Court has preliminarily approved the settlement because it is in the best interests of all parties and class members.”","However, some in the real estate field warn that the change could raise costs for homebuyers, who are already shelling out a large chunk of money for what is often the largest purchase of their lives.",2024-04-24
-Meta shares sink after it reveals spending plans,https://www.bbc.co.uk/news/articles/cl40v5x483yo,2024-04-24T21:10:00.133Z,"Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings. The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI). Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024. Meta has been updating its ad-buying products with AI tools to boost earnings growth. It has also been introducing more AI features on its social media platforms such as chat assistants. The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn. Its shares fell despite it beating expectations on its earnings. First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn. Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were ""aggressive"". She said Meta's ""substantial investment"" in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money ""in a time when digital advertising uncertainty remains rife"". More than 50 countries are due to have elections this year, she said, ""which hugely increases uncertainty"" and can spook advertisers. She added that Meta's ""fortunes are probably also being bolstered by TikTok’s uncertain future in the US"". Meta's rival has said it will fight an ""unconstitutional"" law that could result in TikTok being sold or banned in the US. President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US. Ms Lund-Yates said that ""looking further ahead, the biggest risk [for Meta] remains regulatory"". Last year, Meta was fined €1.2bn (£1bn) by Ireland's data authorities for mishandling people's data when transferring it between Europe and the US. And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation. Ms Lund-Yates added that the firm has ""more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment"". ",BBC,24/04/2024,"['Shares in US tech giant Meta have sunk in US after-hours trading despite better-than-expected earnings.', 'The Facebook and Instagram owner said expenses would be higher this year as it spends heavily on artificial intelligence (AI).', 'Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.', 'Meta has been updating its ad-buying products with AI tools to boost earnings growth.', 'It has also been introducing more AI features on its social media platforms such as chat assistants.', 'The firm said it now expected to spend between $35bn and $40bn, (£28bn-32bn) in 2024, up from an earlier prediction of $30-$37bn.', 'Its shares fell despite it beating expectations on its earnings.', 'First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.', 'Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown, said its spending plans were ""aggressive"".', 'She said Meta\'s ""substantial investment"" in AI has helped it get people to spend time on its platforms, so advertisers are willing to spend more money ""in a time when digital advertising uncertainty remains rife"".', 'More than 50 countries are due to have elections this year, she said, ""which hugely increases uncertainty"" and can spook advertisers.', 'She added that Meta\'s ""fortunes are probably also being bolstered by TikTok’s uncertain future in the US"".', 'Meta\'s rival has said it will fight an ""unconstitutional"" law that could result in TikTok being sold or banned in the US.', ""President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to sell off the app or it will be blocked in the US."", 'Ms Lund-Yates said that ""looking further ahead, the biggest risk [for Meta] remains regulatory"".', ""Last year, Meta was fined €1.2bn (£1bn) by Ireland's data authorities for mishandling people's data when transferring it between Europe and the US."", 'And in February of this year, Meta chief executive Mark Zuckerberg faced blistering criticism from US lawmakers and was pushed to apologise to families of victims of child sexual exploitation.', 'Ms Lund-Yates added that the firm has ""more than enough resources to throw at legal challenges, but that doesn’t rule out the risks of ups and downs in market sentiment"".']",-0.054383100336459,Meta has been updating its ad-buying products with AI tools to boost earnings growth.,"Meta's rival has said it will fight an ""unconstitutional"" law that could result in TikTok being sold or banned in the US.",-0.0777276020783644,"First quarter revenue rose 27% to $36.46bn, while analysts had expected earnings of $36.16bn.",Its shares fell more than 15% after it said it expected to spend billions of dollars more than it had previously predicted in 2024.,2024-04-24
-Bilt’s March Rent Day promotion: Vote for your favorite benefit with the Bilt Bracket,https://edition.cnn.com/cnn-underscored/travel/bilt-rent-day-promotion,"
-  Updated
-        10:57 AM EST, Mon February 26, 2024
-    ","The relatively new Bilt Mastercard® (see rates and fees) has been incredibly popular since its inception. With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.
-    
-            And in addition to their strong program, Bilt Rewards — the loyalty program behind the Bilt Mastercard — also offers some favorable promotions throughout the year, with the most popular known as Rent Day.
-    
-            With Bilt’s Rent Day promotion — which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month. Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.
-    
-            Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one. Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.
-    
-            A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit. Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round. The last standing offer will then be the Rent Day benefit on March 1.
-    
-            And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).
-    
-            Let’s take a closer look at how this bracket will work and the Rent Day offer options.
-    
-            For four days straight — between Feb. 26 and Feb. 29 — Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com. There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.
-    
-            The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.
-    
-            However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer, giving select members two bonus opportunities on Rent Day.
-    
-            With 16 different offers, some are significantly better than others. Although, the best offer for you might truly depend on how you engage in the Bilt program. Check the Bilt app or website to see the full list of promotions you can vote on.
-    
-            For me, the offers that allow me to earn bonus points on specific purchases — such as bonus points at Bilt Dining restaurants — will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.
-    
-            Voting is incredible quick and can easily be completed alongside your morning coffee. Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.
-    
-            On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games. Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.
-    
-            You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority. This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m.
-    
-            Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).
-    
-            So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase. And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar. But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).
-    
-            Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions. Let’s see which bonus offer wins this month.
-    
-            Learn more and apply now for the Bilt Mastercard.
-    
-            Find out which cards CNN Underscored Money chose as the best credit cards currently available.",CNN,26/02/2024,"['The relatively new Bilt Mastercard® (seerates and fees) has been incredibly popular since its inception.', 'With a top-notch loyalty program and the opportunity to earn points on rent with absolutely no transaction fees (up to 100,000 points per calendar year), it’s no surprise to see the card flourish over the past few years.', 'And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.', 'With Bilt’s Rent Day promotion —which runs the first of every month — all card members have the opportunity to earn double points on all purchases (excluding rent) as well as take advantage of their unique offer for the month.', 'Bilt typically announces their promotions just a few days prior to Rent Day, and it’s something you’ll want to pay attention to.', 'Bilt Rewards just released the March 1st edition of its monthly Rent Day promotion, and it is a unique one.', 'Instead of Bilt announcing a single offer, all members will have the opportunity to have a say in the winning pick.', 'A play off the March Madness bracket, the Bilt Bracket will run between now and Feb. 29, during which you can vote daily to help decide the Rent Day benefit.', 'Various offers will go head-to-head, and like all brackets, the winner will proceed to the next round.', 'The last standing offer will then be the Rent Day benefit on March 1.', 'And similar to most other Rent Day promotions, the winning offer is only valid on the first day of the month (March 1, 2024, in this case).', 'Let’s take a closer look at how this bracket will work and the Rent Day offer options.', 'For four days straight —between Feb. 26 and Feb. 29 —Bilt members can vote for their favorite Rent Day benefit within the Bilt app or BiltRewards.com.', 'There are 16 total offers to start with and the winners from each day will then proceed to the next round of the bracket.', 'The last standing offer after the Feb. 29th vote will end up being the Rent Day benefit for all members to take advantage of on March 1.', 'However, those with Gold or Platinum status with Bilt, will also receive the runner-up offer,giving select members two bonus opportunities on Rent Day.', 'With 16 different offers, some are significantly better than others.', 'Although, the best offer for you might truly depend on how you engage in the Bilt program.', 'Check the Bilt app or website to see the full list of promotions you can vote on.', 'For me, the offers that allow me to earn bonus points on specific purchases —such as bonus points at Bilt Dining restaurants —will be my top pick, but others might prefer the opportunity get bonus points by redeeming their Bilt points on rent, for example.', 'Voting is incredible quick and can easily be completed alongside your morning coffee.', 'Once you vote, you’ll also be given some insight on the winners with the percentage of members that picked each option thus far.', 'On March 1st, Bilt members will also have the opportunity to redeem Bilt points for an exclusive game ticket and experience to the NCAA Men’s Sweet 16, Elite Eight and Final Four games.', 'Tickets start at 15,000 Bilt points each for games taking place in Dallas, Detroit, Boston, Los Angeles and Phoenix.', 'You’ll be able to snag a ticket starting at 12 p.m. EST on March 1, but those with higher Bilt status will receive priority.', 'This is because those with Platinum status will have first access at 12 p.m. EST, Gold status members at 12:30 p.m. EST, Silver status members at 1 p.m. and everyone else at 1:30 p.m.  Every month on Rent Day, Bilt also gives members with the Bilt Mastercard a chance to earn double points on all purchases (excluding rent).', 'So, if you have a new restaurant you want to check out, flights to book or any other purchases to make, it could be worth waiting until March 1 to earn more points on your purchase.', 'And if you’re dining at a restaurant that participates in Bilt Dining, you can increase your earnings up to a whopping 11 points per dollar.', 'But remember, to earn Bilt points, you must use the card five times each statement period (see Rewards & Benefits).', 'Bilt’s monthly Rent Day promotions are a great opportunity to maximize your points as well as jump on unique promotions.', 'Let’s see which bonus offer wins this month.', 'Learn more and apply now for the Bilt Mastercard.', 'Find out which cards CNN Underscored Money chose as the best credit cardscurrently available.']",0.5132379666371525,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,0.9566517621278764,"And in addition to their strong program, Bilt Rewards —the loyalty program behind the Bilt Mastercard —also offers some favorable promotions throughout the year, with the most popular known as Rent Day.",,2024-04-24
-Microsoft stock hits all-time high after hiring former OpenAI CEO Sam Altman,https://edition.cnn.com/2023/11/20/investing/microsoft-stock-record-high-altman-openai/index.html,"
-  Updated
-        4:19 PM EST, Mon November 20, 2023
-    ","Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.
-    
-            Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.
-    
-            That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup. Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.
-    
-            Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.
-    
-            Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing. Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.
-    
-            Microsoft shares are up about 56% for the year. The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.
-    
-            Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.
-    
-            “We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.
-    
-            Other members of the “Magnificent Seven” saw a boost on Monday. Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.",CNN,20/11/2023,"['Microsoft stock reached a record high on Monday after the company said that Sam Altman, former chief executive of OpenAI, will join the company to head its artificial intelligence innovation leg.', 'Shares of the tech behemoth rose 2.1% to an all-time high close of $377.44 on Monday, beating the previous record of $376.17.', 'That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.', 'Microsoft is the artificial intelligence firm’s biggest stakeholder, with a $13 billion investment in the company.', 'Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.', 'Altman’s hiring ended days of speculation that the former chief executive could return to the firm after his dramatic firing.', 'Emmett Shear, former CEO of Amazon-owned streaming service Twitch, will replace OpenAI chief technology officer Mira Murati as interim chief executive.', 'Microsoft shares are up about 56% for the year.', 'The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.', 'Dan Ives, tech analyst at Wedbush Securities, reiterated his $425 price target for Microsoft’s stock following Altman’s and Brockman’s hires.', '“We view Microsoft now even in a stronger position from an AI perspective with Altman and Brockman” at the company, Ives wrote in a note on Monday.', 'Other members of the “Magnificent Seven” saw a boost on Monday.', 'Nvidia shares gained 2.3% to end the trading session at $504.20 ahead of its earnings due on Tuesday, notching a record-high close for the chipmaker.']",0.3148943375907157,"The stock is one of the “Magnificent Seven” that have powered the lion’s share of the market’s returns this year, boosted by Wall Street’s bet that artificial intelligence is the next big thing in tech.","Greg Brockman, who co-founded OpenAI and quit after Altman’s firing, is also joining Microsoft.",0.7688216765721639,Microsoft shares are up about 56% for the year.,"That comes after shares of Microsoft fell 1.7% on Friday, when Sam Altman was ousted from his position at OpenAI in a boardroom coup.",2024-04-24
-"NBC hires former RNC chair Ronna McDaniel, who has demonized the press and refused to acknowledge Biden was fairly elected",https://edition.cnn.com/2024/03/22/media/ronna-mcdaniel-nbc/index.html,"
-  Published
-        1:53 PM EDT, Fri March 22, 2024
-    ","NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedly attacked the network and its journalists, assailed the news media as “fake news” and promoted false claims around the 2020 vote, as an on-air commentator ahead of the 2024 presidential election.
-    
-            “It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memo to staff.
-    
-            McDaniel exited the RNC earlier this month after leading the organization since 2016.
-    
-            During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.
-    
-            McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.” At times, she even targeted NBC News and MSNBC with dishonest attacks.
-    
-            In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”
-    
-            “How can NBC let him keep his job when he’s made his bias so clear?” McDaniel asked.
-    
-            McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role. In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”
-    
-            An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.
-    
-            In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.
-    
-            McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.”
-    
-            The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.” The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in a detailed fact check posted online.
-    
-            In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.
-    
-            “I think saying that there were problems with 2020 is very real. I don’t think that’s election denying,” McDaniel told Wallace. “I’m from Wayne County. We had a woman send a note saying I’m being told to backdate ballots. We had to look into that. That’s deeply concerning. When you have friends who are poll-watching and being kicked out, that’s deeply concerning. We have every right to look at that.”
-    
-            In the interview, Wallace pressed McDaniel if she believed Biden legitimately won the election.
-    
-            “I think there were lots of problems with 2020. Ultimately, he won the election but there were lots of problems with the 2020 election,” she said. “But I don’t think he won it fair. I don’t. I’m not going to say that.”
-    
-            NBC’s hiring of McDaniel, however, plays into a recent trend at the network’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.
-    
-            Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on air without scrutiny.
-    
-            MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do. Star host Rachel Maddow, who has said carrying Trump’s lies on the air is dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”",CNN,22/03/2024,"['NBC News on Friday announced that it had hired Ronna McDaniel, the former Republican National Committee chair who has repeatedlyattacked the network and its journalists,assailed thenewsmedia as “fake news” and promoted false claims around the 2020vote,as an on-air commentatorahead of the 2024 presidential election.', '“It couldn’t be a more important moment to have a voice like Ronna’s on the team,” Carrie Budoff Brown, senior vice president of politics at NBC News, said in a memoto staff.', 'McDaniel exited the RNC earlier this month after leading the organization since 2016.', 'During her time as chair, McDaniel repeatedly attacked the press, which has become increasingly popular in Republican circles over the last several years as Donald Trump demonizes journalists and news institutions.', 'McDaniel echoed many such attacks, labeling the press as “fake news” and calling the media “corrupt.���', 'At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.', 'In 2019, for instance, McDaniel accused Richard Engel, NBC News’ chief foreign correspondent, of “actively cheering for an economic downturn.”', '“How can NBC let him keep his job when he’s made his bias so clear?”', 'McDaniel asked.', 'McDaniel has a lengthier history attacking the progressive cable news channel MSNBC, which she will appear on in her new role.', 'In recent years, she has repeatedly attacked the channel for “spreading lies” and blasted those she described as the network’s “primetime propagandists.”', 'An NBC spokesperson did not respond to requests for comment about her attacks on the news media and NBC.', 'In her role as RNC chief, McDaniel also fanned the flames of election denialism after the 2020 presidential contest.', 'McDaniel was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'The Michigan Department of State’s office condemned her claims of supposed voter fraud in the wake of the election, stating they had “no merit.', '”The state’s “elections were conducted fairly, effectively and transparently and are an accurate reflection of the will of Michigan voters,” it said in adetailed fact checkposted online.', 'In an interview with CNN’s Chris Wallace last year, McDaniel defended her claims of voting “irregularity” in the election.', '“I think saying that there were problems with 2020 is very real.', 'I don’t think that’s election denying,” McDaniel told Wallace. “', 'I’m from Wayne County.', 'We had a woman send a note saying I’m being told to backdate ballots.', 'We had to look into that.', 'That’s deeply concerning.', 'When you have friends who are poll-watching and being kicked out, that’s deeply concerning.', 'We have every right to look at that.”', 'In the interview,Wallace pressed McDaniel if she believed Biden legitimately won the election.', '“I think there were lots of problems with 2020.', 'Ultimately, he won the electionbut there were lots of problems with the 2020 election,” she said. “', 'But I don’t think he won it fair.', 'I don’t.', 'I’m not going to say that.”', 'NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.', 'Earlier this month, CNBC hosted Trump for a lengthy phone interview in which the network’s anchors allowed him to peddle lies and conspiracy theories on airwithout scrutiny.', 'MSNBC has even started carrying Trump’s remarks live on television, a practice that the network boasted for years it would not do.', 'Star host Rachel Maddow, who has said carrying Trump’s lieson the airis dangerous, even objected to the network broadcasting a recent speech from the presumptive Republican nominee, calling it “irresponsible.”']",-0.069193576701305,But I don’t think he won it fair.,"At times, she even targeted NBC Newsand MSNBCwith dishonest attacks.",-0.2803101042906443,"NBC’s hiring of McDaniel, however, plays into a recent trend at thenetwork’s outlets, which has seemingly softened its stance on Trump as he inches toward the Republican nomination for president.",“I think there were lots of problems with 2020.,2024-04-24
-3 ways Apple’s monopoly lawsuit could change the iPhone experience for fans,https://edition.cnn.com/2024/03/26/tech/apples-iphone-changes-lawsuit/index.html,"
-  Published
-        6:30 AM EDT, Tue March 26, 2024
-    ","When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market. The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.
-    
-            That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.
-    
-            But the Biden administration believes Apple took that too far. On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market. In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.
-    
-            The company denied the lawsuit’s allegations and said it plans to fight them. Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”
-    
-            But if successful, the lawsuit could ripple across Apple’s products and services. Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users:
-    
-            If found liable, the company could be forced to change a number of things.
-    
-            One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before. The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.
-    
-             According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.
-    
-            “An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said. “What Apple fears most is becoming irrelevant to its customers.”
-    
-            At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage. And the concept hasn’t been welcomed much in the US anyway.
-    
-            The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.
-    
-            Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.
-    
-            The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy. It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.
-    
-            In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap. Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year. RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.
-    
-            The change followed pressure from both regulators and competitors to more seamlessly work across operating systems. The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms. The US government could require the same.
-    
-            Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+. The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.
-    
-            Chatterjee said making this change would have both positives and negatives.
-    
-            “The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.
-    
-            The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services. Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.
-    
-            The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating. Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.
-    
-            David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation. But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.
-    
-            “If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.
-    
-            Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use. Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.
-    
-            “The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.
-    
-            But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”",CNN,26/03/2024,"['When Apple launched its first Mac computer in 1984, with its iconic Mac smiley-face “hello” greeting, it wanted to differentiate itself in the fledgling PC market.', 'The Mac was approachable with its friendly, innovative design – Apple’s way of setting the Mac apart in the confusing PC landscape.', 'That consumer-friendly mantra still exists today, with Apple carefully curating an easy-breezy yet controlled user experience across its products, including the billions of iPhones used around the world.', 'But the Biden administration believes Apple took that too far.', 'On Thursday, the Department of Justice sued Apple for illegally monopolizing the smartphone market.', 'In a press conference, the government provided a long list of how Apple has allegedly squashed competition with restrictive app store terms, high fees and its “walled-garden” approach, restricting how third-party companies interact with its brands and services.', 'The company denied the lawsuit’s allegations and said it plans to fight them.', 'Apple added that the lawsuit could empower the government “to take a heavy hand in designing people’s technology.”', 'But if successful, the lawsuit could ripple across Apple’s products and services.', 'Although the suit could take years to play out, here’s a closer look what it may eventually mean for iPhone users:  If found liable, the company could be forced to change a number of things.', 'One such change is how iPhone users could get greater access to “super apps” that have been largely restricted before.', 'The term refers to one-stop-shop apps that allow for messaging, ordering food, payment processing and other capabilities all within one platform.', 'According to Dipanjan Chatterjee, a principal analyst at market research firm Forrester, super apps most threaten Apple’s preeminence in the lives of its customers.', '“An offering like WeChat, dubbed China’s everything app, can provide an alternative to the Apple ecosystem for people to communicate, bank, share memories, talk to businesses and more,” he said.', '“What Apple fears most is becoming irrelevant to its customers.”', 'At the same time, super apps like WeChat are created by larger companies and could, therefore, put some smaller companies at a disadvantage.', 'And the concept hasn’t been welcomed much in the US anyway.', 'The US government, however, could argue that lack of interest may be due to Apple’s high share of the smartphone market and its resistance to offer super apps in its store, Chatterjee said.', 'Apple may also be required to offer more support for cross-platform messaging, an issue the company previously said it’s already working on.', 'The company lets iPhone users send high-quality photos and videos to one another, but similar texts to Android phones are slower and grainy.', 'It also maintains those messages in green bubbles, creating a kind of class divide, critics argue.', 'In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.', 'Apple’s move to add support for the standard called RCS (rich communication services) is intended to roll out later this year.', 'RCS is considered the replacement to alternatives such as SMS, or short messaging service, and can work over both Wi-Fi and mobile data.', 'The change followed pressure from both regulators and competitors to more seamlessly work across operating systems.', 'The European Union’s Digital Markets Act, for example, requires companies to make their key services interoperable between platforms.', 'The US government could require the same.', 'Another likely change is how hardware from other companies, such as smartwatches, will interact with the Apple range of devices and software, including the iPhone and Apple’s services like Fitness+.', 'The company has also required Apple Watch users to own iOS devices as a way to keep them locked into its existing ecosystem.', 'Chatterjee said making this change would have both positives and negatives.', '“The net result would reside somewhere along the spectrum of access to more and cheaper options but also the devaluation of the customer experience that is so highly prized by Apple’s customers,” he said.', 'The Biden administration has also taken issue with Apple’s lack of support for mobile cloud services.', 'Loosening this could allow users to access games and other cloud-based apps without having to pay for pricey hardware.', 'The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.', 'Although the Biden administration will have to prove these harms, some critics say any potential changes Apple could make will negatively impact the user experience.', 'David McQueen, a research director at ABI Research, said he recognizes that the content and applications market should be open, and Apple needs to avoid monopolistic advantages that can restrict competition, push up prices or block innovation.', 'But Apple’s success stems in part to its tight grip on its products and services, keeping things intuitive and seamless.', '“If Apple is forced to comply, it could potentially spell the end to the provision of this consistent and unified user experience, although by the same token, consumers will be open to a greater choice of apps and services, helping more developers and providers,” McQueen said.', 'Chatterjee noted some people are drawn to the Apple family of products precisely because of the carefully managed ecosystem’s ease of use.', 'Apple may have to work that much harder to preserve the integrity of its experience, but any changes probably won’t be enough to make customers to leave and go elsewhere.', '“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.', 'But he added those currently outside of the Apple ecosystem will likely benefit by “plugging in opportunistically without having to go all in with Apple.”']",0.2470050112228104,"In November, the company said it will add new features, such as read receipts, typing indicators, better support for group chats and higher quality media sharing of images and videos, across platforms to help close the gap.",The company denied the lawsuit’s allegations and said it plans to fight them.,-0.151834687590599,"“The vast majority of Apple customers would probably be happier with some more choice and lower prices as long as it did not hamper their levels of customer experience, which is threatened by the less control Apple has over the experience,” Chatterjee said.","The DOJ lawsuit claims Apple’s behavior has illegally hindered competition, kept its customers locked into its products and prevented other companies from innovating.",2024-04-24
-"Elon Musk postpones India visit, citing Tesla obligations",https://edition.cnn.com/2024/04/20/business/elon-musk-postpones-india-visit-intl-hnk/index.html,"
-  Published
-        2:40 AM EDT, Sat April 20, 2024
-    ","Elon Musk has postponed his planned trip to India, citing “very heavy” obligations at Tesla.
-    
-            The Tesla CEO was due to arrive in India next week for a visit that was expected to include a meeting with Prime Minister Narendra Modi and confirmation that Tesla will build a factory in the world’s most populous country.
-    
-            “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk posted on X on Saturday.
-    
-            Musk posted last week on X that he was “looking forward” to meeting Modi.
-    
-            He was also planning to meet leaders of Indian space tech startups during his visit, including Pawan Chandana, co-founder of Skyroot Aerospace, which launched India’s first privately developed rocket in 2022. Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter.
-    
-            Currently the world’s fourth-richest man, Musk was expected to announce an investment of $2 billion to $3 billion in India, mainly for building the new Tesla factory, Reuters  and the Financial Times reported, citing anonymous sources.
-    
-            His trip was originally scheduled just days after India commenced the world’s largest democratic election. An estimated 960 million people in the country of 1.4 billion are eligible to vote in the poll, which started on Friday and will take more than a month to complete. Modi is widely expected to clinch a rare third consecutive five-year term as prime minister.",CNN,20/04/2024,"['Elon Musk has postponed his planned trip to India, citing “very heavy” obligations at Tesla.', 'The Tesla CEO was due to arrive in India next week for a visit that was expected to include a meeting with Prime Minister Narendra Modi and confirmation that Tesla will build a factory in the world’s most populous country.', '“Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk posted on X on Saturday.', 'Musk posted last week on X that he was “looking forward” to meeting Modi.', 'He was also planning to meet leaders of Indian space tech startups during his visit, including Pawan Chandana, co-founder of SkyrootAerospace, which launchedIndia’s first privately developedrocket in 2022.', 'Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter.', 'Currently theworld’s fourth-richest man, Musk was expected to announce an investment of $2 billion to $3 billion in India, mainly for building the new Tesla factory, Reuters and the Financial Timesreported, citing anonymous sources.', 'His trip was originally scheduled just days after India commenced theworld’s largest democratic election.', 'An estimated 960 million people in the country of 1.4 billion are eligible to vote in the poll, which started on Friday and will take more than a month to complete.', 'Modi is widely expected to clinch a rare third consecutive five-year term as prime minister.']",0.0039807225057892,"Currently theworld’s fourth-richest man, Musk was expected to announce an investment of $2 billion to $3 billion in India, mainly for building the new Tesla factory, Reuters and the Financial Timesreported, citing anonymous sources.","“Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk posted on X on Saturday.",0.2771327098210652,Modi is widely expected to clinch a rare third consecutive five-year term as prime minister.,"Elon Musk has postponed his planned trip to India, citing “very heavy” obligations at Tesla.",2024-04-24
-Train strikes announced for May Bank Holiday week,https://www.bbc.co.uk/news/business-68874928,2024-04-22T11:52:12.000Z,"Rail passengers are being warned of disruption during the week of the May Bank Holiday after drivers announced more strikes and an overtime ban. Staff at 16 train companies will take part in rolling one-day walkouts between 7 and 9 May over pay and working conditions. An overtime ban will also take place between 6 and 11 May.  Passengers are advised to check before they travel, with the action likely to lead to delays and cancellations. The Bank Holiday falls on 6 May this year.  Aslef, the train drivers' union, said it is seeking better pay for its members and claimed drivers are being asked to sacrifice working conditions in exchange for a wage increase. Drivers from several train companies will strike on different days. A spokesperson for the Rail Delivery Group, the body that negotiates on behalf of the rail companies, said: ""This wholly unnecessary strike action called by the Aslef leadership will sadly disrupt customers and businesses once again, while further damaging the railway at a time when taxpayers are continuing to contribute an extra £54m a week just to keep services running. ""We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn't taking more than its fair share from taxpayers."" Mick Whelan, Aslef's general secretary, said: ""It is now a year since we sat in a room with the train companies - and a year since we rejected the risible offer they made and which they admitted, privately, was designed to be rejected."" Little progress has been made in solving the row between Aslef and the rail companies since the union first started striking in July 2022.  The most recent pay deal was rejected almost a year ago in April 2023. The offer included 4% pay rises for two years in a row, on condition that drivers would accept industry-wide changes to training, and negotiate changes to work patterns at individual operators. The last series of train strikes took place during the first and second weeks of April. However, a London Underground drivers' strike scheduled for Monday 8 April and Saturday 4 May was called off. A spokesperson for Aslef said at the time that ""key issues"" had been ""successfully resolved"" in the London Underground dispute ""without the need for strikes"". The train drivers' dispute is stuck on repeat. And passengers are left in the middle of a standoff with no current end in sight. Each time a new strike is announced, the government insists the offer which Aslef's committee rejected a year ago should be put to members in a vote.  Ministers and the industry group which does the negotiating say any deal has to be fair to be taxpayers, who put billions in subsidies into the railway every year.  Aslef argues those proposals, especially with strings attached to a pay rise, were never going to be acceptable to its members. It thinks a better offer should be put forward.  The government wants to cut costs and the industry argues proposed changes would also increase reliability. But from Aslef's perspective, members are being asked to give up too much by way of terms and conditions, for the pay rise that's on offer.  Train drivers have kept voting for more industrial action. So, the strikes keep coming.  It is difficult to see a resolution coming before the general election. And whoever's in government after that, it's not clear what they would do differently to end the dispute. ",BBC,22/04/2024,"['Rail passengers are being warned of disruption during the week of the May Bank Holiday after drivers announced more strikes and an overtime ban.', 'Staff at 16 train companies will take part in rolling one-day walkouts between 7 and 9 May over pay and working conditions.', 'An overtime ban will also take place between 6 and 11 May.', 'Passengers are advised to check before they travel, with the action likely to lead to delays and cancellations.', 'The Bank Holiday falls on 6 May this year.', ""Aslef, the train drivers' union, said it is seeking better pay for its members and claimed drivers are being asked to sacrifice working conditions in exchange for a wage increase."", 'Drivers from several train companies will strike on different days.', 'A spokesperson for the Rail Delivery Group, the body that negotiates on behalf of the rail companies, said: ""This wholly unnecessary strike action called by the Aslef leadership will sadly disrupt customers and businesses once again, while further damaging the railway at a time when taxpayers are continuing to contribute an extra £54m a week just to keep services running. ""', 'We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn\'t taking more than its fair share from taxpayers.""', 'Mick Whelan, Aslef\'s general secretary, said: ""It is now a year since we sat in a room with the train companies - and a year since we rejected the risible offer they made and which they admitted, privately, was designed to be rejected.""', 'Little progress has been made in solving the row between Aslef and the rail companies since the union first started striking in July 2022.', 'The most recent pay deal was rejected almost a year ago in April 2023.', 'The offer included 4% pay rises for two years in a row, on condition that drivers would accept industry-wide changes to training, and negotiate changes to work patterns at individual operators.', 'The last series of train strikes took place during the first and second weeks of April.', ""However, a London Underground drivers' strike scheduled for Monday 8 April and Saturday 4 May was called off."", 'A spokesperson for Aslef said at the time that ""key issues"" had been ""successfully resolved"" in the London Underground dispute ""without the need for strikes"".', ""The train drivers' dispute is stuck on repeat."", 'And passengers are left in the middle of a standoff with no current end in sight.', ""Each time a new strike is announced, the government insists the offer which Aslef's committee rejected a year ago should be put to members in a vote."", 'Ministers and the industry group which does the negotiating say any deal has to be fair to be taxpayers, who put billions in subsidies into the railway every year.', 'Aslef argues those proposals, especially with strings attached to a pay rise, were never going to be acceptable to its members.', 'It thinks a better offer should be put forward.', 'The government wants to cut costs and the industry argues proposed changes would also increase reliability.', ""But from Aslef's perspective, members are being asked to give up too much by way of terms and conditions, for the pay rise that's on offer."", 'Train drivers have kept voting for more industrial action.', 'So, the strikes keep coming.', 'It is difficult to see a resolution coming before the general election.', ""And whoever's in government after that, it's not clear what they would do differently to end the dispute.""]",-0.1527995177908832,"We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn't taking more than its fair share from taxpayers.""",Rail passengers are being warned of disruption during the week of the May Bank Holiday after drivers announced more strikes and an overtime ban.,-0.0512210401621731,"We continue to seek a fair agreement with the Aslef leadership which both rewards our people, gives our customers more reliable services and makes sure the railway isn't taking more than its fair share from taxpayers.""","A spokesperson for the Rail Delivery Group, the body that negotiates on behalf of the rail companies, said: ""This wholly unnecessary strike action called by the Aslef leadership will sadly disrupt customers and businesses once again, while further damaging the railway at a time when taxpayers are continuing to contribute an extra £54m a week just to keep services running. """,2024-04-24
-Homeowner pain as major banks lift mortgage rates,https://www.bbc.co.uk/news/business-68874847,2024-04-22T15:48:07.000Z,"Some of the UK's biggest banks are raising mortgage rates as expectations of when the Bank of England will cut interest rates are pushed back. Barclays, HSBC and NatWest are all increasing some costs on fixed-rate mortgage deals from Tuesday.  Mortgage rates have risen over the past few weeks as views have changed on when the Bank might cut borrowing costs. The Bank is now not expected to cut its benchmark rate as early or as often as previously thought. The announcement from Barclays, which is lifting rates for the second time in the space of seven days, will see a 0.1% increase across a range of its mortgage products.  NatWest said it would raise some of its two and five-year ""switcher"" deals for existing customers by 0.1%. HSBC added it was increasing some of its rates on Tuesday, but did not give details of the increases. Building societies are also raising fees. Leeds Building Society said it was increasing the fixed rate on selected products by up to 0.2% for both new and existing customers. The Co-op said it was putting up the rates on some of its fixed deals by up to 0.41% from Monday but cutting the rate by 0.07% on others.  According to financial information service Moneyfacts, the average two-year fixed mortgage rate is 5.82%, while the average five-year fixed rate is 5.40%. Broker Justin Moy from EHF Mortgages said a 0.1% increase would not make a big impact on those with small mortgages, but warned homeowners with larger loans - £300,000 or more - would notice a difference.  ""With Barclays, they've had two nibbles, 0.2% last Thursday and then 0.1% tomorrow [Tuesday], that's 0.3% overall. For someone borrowing £300,000 that's an increase of £4,500 over five years,"" he told the BBC.  The rises would cause ""loads of aggravation"" for borrowers and brokers, Mr Moy said. ""It starts a panic off because customers see rates going up,"" he added. Lenders are lifting rates as they respond to changing predictions about the future direction of the Bank of England's benchmark rate, which dictates borrowing costs and currently stands at 5.25%. The fall in the rate of inflation over the past few months had led many analysts to predict the Bank would begin cutting the rate from June. However, recent data on inflation - which measures the pace at which prices are rising - has shown it is not falling as quickly as expected.  The latest inflation figure showed prices rose by 3.2% in the year to March, which was down from 3.4% the month before but still slightly higher than expected. Events in the US have also been affecting markets. US inflation has also not fallen as quickly as predicted, pushing back expectations about when the central bank there, the Federal Reserve, will begin cutting rates. The possibility of a delay to US interest rate cuts has affected markets globally, and is another factor feeding through to higher mortgage costs. Last week, Chancellor Jeremy Hunt, told reporters at the International Monetary Fund Spring Meeting that ""what happens in the US has a knock-on impact in the UK"". Are you affected by the issues raised in this story? Share your experiences by emailing haveyoursay@bbc.co.uk. Please include a contact number if you are willing to speak to a BBC journalist. You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk. Please include your name, age and location with any submission.  ",BBC,22/04/2024,"[""Some of the UK's biggest banks are raising mortgage rates as expectations of when the Bank of England will cut interest rates are pushed back."", 'Barclays, HSBC and NatWest are all increasing some costs on fixed-rate mortgage deals from Tuesday.', 'Mortgage rates have risen over the past few weeks as views have changed on when the Bank might cut borrowing costs.', 'The Bank is now not expected to cut its benchmark rate as early or as often as previously thought.', 'The announcement from Barclays, which is lifting rates for the second time in the space of seven days, will see a 0.1% increase across a range of its mortgage products.', 'NatWest said it would raise some of its two and five-year ""switcher"" deals for existing customers by 0.1%.', 'HSBC added it was increasing some of its rates on Tuesday, but did not give details of the increases.', 'Building societies are also raising fees.', 'Leeds Building Society said it was increasing the fixed rate on selected products by up to 0.2% for both new and existing customers.', 'The Co-op said it was putting up the rates on some of its fixed deals by up to 0.41% from Monday but cutting the rate by 0.07% on others.', 'According to financial information service Moneyfacts, the average two-year fixed mortgage rate is 5.82%, while the average five-year fixed rate is 5.40%.', 'Broker Justin Moy from EHF Mortgages said a 0.1% increase would not make a big impact on those with small mortgages, but warned homeowners with larger loans - £300,000 or more - would notice a difference. ""', ""With Barclays, they've had two nibbles, 0.2% last Thursday and then 0.1% tomorrow [Tuesday], that's 0.3% overall."", 'For someone borrowing £300,000 that\'s an increase of £4,500 over five years,"" he told the BBC.', 'The rises would cause ""loads of aggravation"" for borrowers and brokers, Mr Moy said. ""', 'It starts a panic off because customers see rates going up,"" he added.', ""Lenders are lifting rates as they respond to changing predictions about the future direction of the Bank of England's benchmark rate, which dictates borrowing costs and currently stands at 5.25%."", 'The fall in the rate of inflation over the past few months had led many analysts to predict the Bank would begin cutting the rate from June.', 'However, recent data on inflation - which measures the pace at which prices are rising - has shown it is not falling as quickly as expected.', 'The latest inflation figure showed prices rose by 3.2% in the year to March, which was down from 3.4% the month before but still slightly higher than expected.', 'Events in the US have also been affecting markets.', 'US inflation has also not fallen as quickly as predicted, pushing back expectations about when the central bank there, the Federal Reserve, will begin cutting rates.', 'The possibility of a delay to US interest rate cuts has affected markets globally, and is another factor feeding through to higher mortgage costs.', 'Last week, Chancellor Jeremy Hunt, told reporters at the International Monetary Fund Spring Meeting that ""what happens in the US has a knock-on impact in the UK"".', 'Are you affected by the issues raised in this story?', 'Share your experiences by emailing haveyoursay@bbc.co.uk.', 'Please include a contact number if you are willing to speak to a BBC journalist.', ""You can also get in touch in the following ways: If you are reading this page and can't see the form you will need to visit the mobile version of the BBC website to submit your question or comment or you can email us at HaveYourSay@bbc.co.uk."", 'Please include your name, age and location with any submission.']",0.0191598667885643,Please include a contact number if you are willing to speak to a BBC journalist.,"It starts a panic off because customers see rates going up,"" he added.",0.0214926070637173,"NatWest said it would raise some of its two and five-year ""switcher"" deals for existing customers by 0.1%.",The fall in the rate of inflation over the past few months had led many analysts to predict the Bank would begin cutting the rate from June.,2024-04-24
-Rishi Sunak's five promises: What progress has he made?,https://www.bbc.co.uk/news/65647308,2023-07-04T00:44:37.000Z,"On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities.  ""I fully expect you to hold my government and I to account on delivering those goals,"" he said. What progress has he made? The government's top priority was halving inflation - the increase in prices over time - by the end of 2023.  Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023.  The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods. The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge. The government has never publicly said what measure should be used to assess if it had met the prime minister's pledge to ""grow the economy"", despite repeated requests. In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September). That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession. Overall the economy grew by only 0.1% in the whole of 2023. Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals. On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth. He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy. I don't think any of us were expecting the economy to actually grow last year."" The pledge to grow the economy was made more difficult by the government's promise to halve inflation. The Bank of England put up interest rates 14 times to stop prices rising so quickly. However, this also reduced spending, and slowed economic growth.  When governments talk about reducing debt, it almost always mean as a proportion of GDP. The idea is that debt is coming down if it is growing more slowly than the economy. In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out. The latest figures for February showed that government debt stood at 97.1% of the size of the economy. That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"".   But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29). In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29. But it is going to be tight and will involve challenging spending restraint for some government departments.  When will we know? The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024.  Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly."" His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems. The overall number of waits for non-emergency treatment in England was 7.5 million in February.  Recent changes to the way that the waiting list is calculated mean we cannot say whether it was higher or lower than in January. The figure had fallen for the previous four months. It is now about 200,000 down from September, but about 300,000 higher than it was when Mr Sunak came to office. The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have."" He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact."" Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000. When will we know?: Monthly waiting list figures are published about six weeks after the end of each month.  The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022. The prime minister proposed to do this through new legislation. The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally. The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.  In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring Rwanda a safe country.  The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024. In April 2024, it was bouncing between the Lords and the Commons as amendments were made by peers and rejected by MPs. Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"". In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year.  So far in 2024, 6,265 people have been detected, which is up a quarter from the same period last year. When will we know? Figures on arrivals in small boats are collected daily.  CORRECTION 22 APRIL: The waiting list section was changed to reflect methodological changes in February 2024 data as well as incomplete data from September 2023. What do you want BBC Verify to investigate? ",BBC,04/07/2023,"['On 4 January 2023, Prime Minister Rishi Sunak set out his five priorities. ""', 'I fully expect you to hold my government and I to account on delivering those goals,"" he said.', 'What progress has he made?', ""The government's top priority was halving inflation - the increase in prices over time - by the end of 2023."", 'Inflation was at 10.7% in the three-month period between October and December 2022, so the aim was to reduce inflation to 5.3% or lower in the last three months of 2023.', 'The government is using a measure called the Consumer Prices Index (CPI), which tracks the price of a typical basket of goods.', 'The CPI for the last three months of 2023 was 4.2%, comfortably below half the rate it was the year before - so the government has met this pledge.', 'The government has never publicly said what measure should be used to assess if it had met the prime minister\'s pledge to ""grow the economy"", despite repeated requests.', 'In some private briefings to journalists, sources said it would be if the economy was bigger in the three-month period of October to December 2023 than in the previous quarter (July-September).', 'That was not achieved - the economy shrank 0.3% in the last three months of the year, sending it into recession.', 'Overall the economy grew by only 0.1% in the whole of 2023.', 'Growth in the economy is measured using GDP (or Gross Domestic Product), a measure of all the activity of companies, governments and individuals.', 'On 28 March 2024, Chancellor Jeremy Hunt was asked if the government had failed in its pledge to create growth.', 'He said that the promise had been to halve inflation but that the prime minister: ""then said we would grow the economy.', 'I don\'t think any of us were expecting the economy to actually grow last year.""', ""The pledge to grow the economy was made more difficult by the government's promise to halve inflation."", 'The Bank of England put up interest rates 14 times to stop prices rising so quickly.', 'However, this also reduced spending, and slowed economic growth.', 'When governments talk about reducing debt, it almost always mean as a proportion of GDP.', 'The idea is that debt is coming down if it is growing more slowly than the economy.', 'In December, the statistics regulator criticised the prime minister for saying debt was falling when it was actually rising, as BBC Verify also pointed out.', 'The latest figures for February showed that government debt stood at 97.1% of the size of the economy.', 'That was 2.3 percentage points higher than February 2023 and, as the Office for National Statistics pointed out, ""remains at levels last seen in the early 1960s"".', 'But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).', 'In the Budget in March, Jeremy Hunt claimed to be on track to meet that pledge because the Office for Budget Responsibility (OBR) predicted a fall in 2028-29.', 'But it is going to be tight and will involve challenging spending restraint for some government departments.', 'When will we know?', 'The next debt forecasts will be published at the next fiscal event, probably in the autumn of 2024.', 'Mr Sunak said: ""NHS waiting lists will fall and people will get the care they need more quickly.""', 'His pledge only refers to waiting lists in England, because Scotland, Wales and Northern Ireland manage their own health systems.', 'The overall number of waits for non-emergency treatment in England was 7.5 million in February.', 'Recent changes to the way that the waiting list is calculated mean we cannot say whether it was higher or lower than in January.', 'The figure had fallen for the previous four months.', 'It is now about 200,000 down from September, but about 300,000 higher than it was when Mr Sunak came to office.', 'The prime minister was asked in an interview on TalkTV on 5 February 2024 whether his government had failed to achieve his pledge, Mr Sunak said: ""Yes, we have.""', 'He highlighted the level of NHS spending and said: ""All these things mean the NHS is doing more than it ever has but industrial action has had an impact.""', 'Research by the Health Foundation think tank suggested that industrial action by consultants and junior doctors had lengthened the waiting list by around 210,000.', 'When will we know?:', 'Monthly waiting list figures are published about six weeks after the end of each month.', 'The final priority was to ""stop the boats"" which bring people across the English Channel, after 45,755 migrants crossed over from France that way in 2022.', 'The prime minister proposed to do this through new legislation.', 'The government finally passed its Illegal Migration Bill on 17 July, giving the home secretary a legal duty to detain and remove anyone entering the UK illegally.', 'The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.', 'In response, the government signed a new treaty with Rwanda and proposed new UK laws declaring Rwanda a safe country.', 'The new legislation passed through the House of Commons and moved to the House of Lords at the end of January 2024.', 'In April 2024, it was bouncing between the Lords and the Commons as amendments were made by peers and rejected by MPs.', 'Mr Sunak has said that his plan to tackle small boat crossings is ""starting to work"".', 'In the whole of 2023, 29,437 people were detected crossing the English Channel, according to the Home Office, which is down more than a third from the previous year.', 'So far in 2024, 6,265 people have been detected, which is up a quarter from the same period last year.', 'When will we know?', 'Figures on arrivals in small boats are collected daily.', 'CORRECTION 22 APRIL: The waiting list section was changed to reflect methodological changes in February 2024 data as well as incomplete data from September 2023.', 'What do you want BBC Verify to investigate?']",-0.0387863985104186,The plan included sending some asylum seekers to Rwanda but this was blocked by the Supreme Court.,But the government pledge was not about how much debt is now - it was that debt would be forecast to come down in five years (2028-29).,-0.0305155897140502,"So far in 2024, 6,265 people have been detected, which is up a quarter from the same period last year.",The figure had fallen for the previous four months.,2024-04-24
-UK borrowing casts doubt on pre-election tax cut prospects,https://www.bbc.co.uk/news/business-68874849,2024-04-23T06:30:18.000Z,"Higher than expected government borrowing has reduced the scope for pre-election tax cuts, analysts say. Government borrowing - the difference between spending and tax income - was £120.7bn in the year to March, the Office for National Statistics said. While this was lower than the previous year, it was £6.6bn more than the government's forecaster had predicted. The government cut National Insurance in March and there has been talk it could trim taxes again in the autumn.  However, Ruth Gregory, deputy chief UK economist at Capital Economics, said: ""If the chancellor was hoping March's figures would provide more scope for tax cuts at a fiscal event later this year, he will have been disappointed."" In addition to the higher borrowing, she noted that government interest payments could be larger than expected given that interest rates are no longer forecast to fall as quickly as previously hoped. This would reduce the headroom for the government to meet its self-imposed spending rules.  Cara Pacitti, senior economist at the Resolution Foundation, the think tank focused on lower income households, said that the latest figures suggested there were ""no signs of extra wriggle room"" for any pre-election Budget.  The government's independent forecasting body, the Office for Budget Responsibility (OBR), had predicted that borrowing over the year would be £114.1bn. A general election has to be held before the end of January 2025, and there has been speculation the government will try to cut taxes again later this year before voters head to the polling stations. Last week, Chancellor Jeremy Hunt told the Financial Times that he would like to cut taxes in the autumn ""if we can"". The chancellor reduced National Insurance by 2p in the pound in the spring Budget following a 2p cut announced in last year's Autumn Statement. The OBR estimated that each cut will cost the government nearly £10bn. Rob Wood, chief UK economist at Pantheon Macroeconomics, said he still expected the chancellor to cut taxes again before an election. However, he added that the next government would ""face a tricky choice between raising taxes to fix creaking public services or holding the line on the chancellor's recent tax cuts"". ""We suspect whoever the next government is will end up pushing through at least some tax rises to balance the books."" Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""But with public sector income up £66bn, overall, the deficit still fell,"" she said. The ONS also noted that these are the initial estimates of public sector finances for last financial year, and figures will be revised over the coming months. Borrowing in March alone was £11.9bn, which was £4.7bn less than a year earlier but still higher than analysts had expected. Total debt - which is the overall amount of money owed by the government that has built up over years - was £2.7 trillion at the end of March.  That is the equivalent of 98.3% of the size of the UK's economy as measured by gross domestic product (GDP), remaining at levels last seen in the early 1960s, the ONS said. A Treasury spokesman said: ""Debt increased in recent years because we rightly protected millions of jobs during Covid and paid half of people's energy bills after Putin's invasion of Ukraine sent bills skyrocketing."" He added that the government ""must stick to the plan to get debt falling"". Liberal Democrat Treasury spokesperson Sarah Olney MP said: ""Years of Conservative chaos has left Britain with spiralling taxes and mortgages, all whilst borrowing remains out of control. This is another damning blow for the Conservative government's economic credibility."" ",BBC,23/04/2024,"['Higher than expected government borrowing has reduced the scope for pre-election tax cuts, analysts say.', 'Government borrowing - the difference between spending and tax income - was £120.7bn in the year to March, the Office for National Statistics said.', ""While this was lower than the previous year, it was £6.6bn more than the government's forecaster had predicted."", 'The government cut National Insurance in March and there has been talk it could trim taxes again in the autumn.', 'However, Ruth Gregory, deputy chief UK economist at Capital Economics, said: ""If the chancellor was hoping March\'s figures would provide more scope for tax cuts at a fiscal event later this year, he will have been disappointed.""', 'In addition to the higher borrowing, she noted that government interest payments could be larger than expected given that interest rates are no longer forecast to fall as quickly as previously hoped.', 'This would reduce the headroom for the government to meet its self-imposed spending rules.', 'Cara Pacitti, senior economist at the Resolution Foundation, the think tank focused on lower income households, said that the latest figures suggested there were ""no signs of extra wriggle room"" for any pre-election Budget.', ""The government's independent forecasting body, the Office for Budget Responsibility (OBR), had predicted that borrowing over the year would be £114.1bn."", 'A general election has to be held before the end of January 2025, and there has been speculation the government will try to cut taxes again later this year before voters head to the polling stations.', 'Last week, Chancellor Jeremy Hunt told the Financial Times that he would like to cut taxes in the autumn ""if we can"".', ""The chancellor reduced National Insurance by 2p in the pound in the spring Budget following a 2p cut announced in last year's Autumn Statement."", 'The OBR estimated that each cut will cost the government nearly £10bn.', 'Rob Wood, chief UK economist at Pantheon Macroeconomics, said he still expected the chancellor to cut taxes again before an election.', 'However, he added that the next government would ""face a tricky choice between raising taxes to fix creaking public services or holding the line on the chancellor\'s recent tax cuts"". ""', 'We suspect whoever the next government is will end up pushing through at least some tax rises to balance the books.""', 'Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""', 'But with public sector income up £66bn, overall, the deficit still fell,"" she said.', 'The ONS also noted that these are the initial estimates of public sector finances for last financial year, and figures will be revised over the coming months.', 'Borrowing in March alone was £11.9bn, which was £4.7bn less than a year earlier but still higher than analysts had expected.', 'Total debt - which is the overall amount of money owed by the government that has built up over years - was £2.7 trillion at the end of March.', ""That is the equivalent of 98.3% of the size of the UK's economy as measured by gross domestic product (GDP), remaining at levels last seen in the early 1960s, the ONS said."", 'A Treasury spokesman said: ""Debt increased in recent years because we rightly protected millions of jobs during Covid and paid half of people\'s energy bills after Putin\'s invasion of Ukraine sent bills skyrocketing.""', 'He added that the government ""must stick to the plan to get debt falling"".', 'Liberal Democrat Treasury spokesperson Sarah Olney MP said: ""Years of Conservative chaos has left Britain with spiralling taxes and mortgages, all whilst borrowing remains out of control.', 'This is another damning blow for the Conservative government\'s economic credibility.""']",-0.1578781836081239,"Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""","Rob Wood, chief UK economist at Pantheon Macroeconomics, said he still expected the chancellor to cut taxes again before an election.",-0.1157142929732799,"Jessica Barnaby, ONS deputy director for public sector finances, said that over the past year government spending was up by about £58bn ""with increased spending on public services and benefits outstripping large reductions in interest payable and energy support scheme costs"". ""","While this was lower than the previous year, it was £6.6bn more than the government's forecaster had predicted.",2024-04-24
-Why a deluge of Chinese-made drugs is hard to curb,https://www.bbc.co.uk/news/business-68669244,2024-04-18T22:57:01.000Z,"When Sammy left her village in Sichuan province to attend university in northern China more than a decade ago, she was following a well-trodden rite of passage.  The English language graduate was the first person in her family to go to university. She had a passion for foreign languages and dreamed of becoming a teacher. She had never heard of synthetic opioids before.  After graduating, Sammy found work at a chemicals company in the Chinese city of Shijiazhuang, selling what she thought were chemicals to clients around the world. She would practice English every day speaking to her customers online, and earn a commission for each sale she made. Her dreams of becoming a teacher quickly faded. ""Maybe others are just like me… At the start we don't know what we are selling, but when we find out we have fallen in love with the work,"" she said. ""This work can make money,"" she adds. Sammy [not her real name] is an unlikely drug trafficker. She is one of what international law enforcement agencies estimate could be thousands of online sales representatives, working for illicit Chinese pharmaceutical and chemical companies producing and smuggling illegal laboratory made drugs.  The US government has long accused China of flooding the country with deadly drugs like fentanyl, a synthetic opioid up to 50 times stronger than heroin, claims the Chinese government denies. The US says Chinese-made opioids are fuelling the worst drug crisis in the country's history. In 2022 more than 70,000 Americans died from fentanyl overdoses. According to a report published by the US select committee on the Chinese Communist Party, the Chinese government provides subsidies to companies openly trafficking illicit synthetic drugs. The report found tens of thousands of posts online advertising illegal drugs and pre-cursors. The study claims that ""wholly state owned"" companies are involved in the trafficking of drugs. The Chinese government has consistently denied knowledge of the illegal drug trade. Many like Sammy fall into the drug trade seemingly by accident, initially unaware of the products they are peddling online and their deadly consequences. But others are more aware of what they are selling.  Each morning Sara [not her real name] posts photos and videos across her social media platforms advertising drugs; synthetic cannabinoids, precursors for MDMA, and nitazenes, a synthetic opioid considered up to 50 times more potent than even fentanyl. ""We have many customers in Britain and have cooperated with them many times,"" boasts Sara, an international trade graduate, now working for an online platform.  When challenged, she is not drawn into a moral discussion about selling drugs. She claims she never asks customers how they use what she sells.   The UK National Crime and Agency (NCA) believes drug dealers are mixing the synthetic opioid with street drugs such as heroin. According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.  The BBC has found hundreds of adverts for nitazenes online. Suppliers contacted claim to send shipments through courier services, mislabelling deliveries and hiding drugs in fake packaging. The BBC has also seen courier tracking numbers provided by online sales representative in China claiming to have made successful deliveries across the UK. Sara entered the business after university. She thought she was selling chemicals.  She has worked in the industry for two and a half years. ""I know most of the products,"" she says. ""My boss has been running this company for more than seven years, and he knows lots of customers and freight forwarders. If the product is detained, he will lose the most. So he will try his best to make the product reach you smoothly,"" she adds. In March, the UK government classified 15 synthetic opioids as Class A drugs. Under the Misuse of Drugs act anyone caught supplying or producing the drugs could face up to life in prison. Those caught in possession face seven years.   According to the United Nations Office on Drugs and Crime (UNODC), China has between 40,000 and 100,000 pharmaceutical companies. ""China has long had one of the most significant pharmaceutical industries in Asia, as well as one of the largest chemical industries. And we've seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""While both industries are regulated, the challenge is significant given the sheer scale, and at the same time there are a number of ways to move products. Parcel post, air freight and shipping containers are all moving globally in high volumes,"" he said. Mr Douglas says that synthetic drugs are disrupting the traditional drug trade. Outside of China, synthetic drugs offer opportunities for both traditional crime organisations and upstarts able to buy directly from producers half a world away.  ""Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable. They're attractive to traffickers."" That was confirmed in my conversations with sales people working for Chinese pharmaceutical firms. ""First of all, our packaging is completely secret, no one knows what it is until you open it, and second, we will change the name of the package and will not reveal any name about the product,"" says Sara. ""We will get the logistics order number when we send the package, we will track the situation of the package at any time, and any anomalies can be known and solved in time,"" she adds. According to Europol, the European police agency, China is the world's biggest manufacturer and distributor of synthetic, lab-made drugs. Some mimic the effects of traditional drugs like cannabis or cocaine. Chemists synthesise new drugs in order to stay one step ahead of the law. ""It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce.  ""I have not seen such a professionalism and a corporate element in this anywhere else in the world. Criminal activity was a type of social mobility."" In 2020, researchers from TraCCC studied over 350 English language websites advertising the synthetic opioid fentanyl. ""From all the adverts that we found, nearly 40% of them were from corporate registries, and the largest hub of that was in Wuhan,"" says Dr Shelly. The sales people contacted by the BBC see the drug trade as simply another aspect of e-commerce. When challenged over selling drugs that damage lives, one described herself as a ""middleman."" ""Somebody needs it, somebody makes it, and I am just a middleman who lets customers know that I have it and what they do with it, I don't care,"" she says. ""Then I figured out I just need to make money. I don't know and don't care. Everyone has their own needs."" The woman boasts of clients from Canada to Croatia. She provided photos of recent drugs shipments complete with labels showing a UK address. ""I didn't know at first until I went online and translated the product into Chinese,"" she says via a message punctuated with a teary emoji.  Another seller says: ""This industry is easy, and you can get higher wages, which attracts a large number of young people"". Natalie [not her real name], focuses on fentanyl. ""We buy from over 10 different labs and have a large selection. I have a professional shipping agent who packaged goods so has a very high delivery success rate to the UK."" Meanwhile, another supplier claimed to be able to smuggle drugs into the UK hidden in dog food packaging.  ""You don't need to worry about the packaging. We guarantee you safe delivery.""  ""We ship in large quantities all over the world every day. Please trust our professional team. We guarantee 100% safe transportation.""  In 2019, the Chinese government banned all forms of fentanyl and its analogues. In January 2024, China and the US launched a joint operation to curb the production of the synthetic opioid fentanyl. ""As long as market demand remains high in some parts of the world then that demand will be met in one way or another,"" said Mr Douglas from the UNODC.  ",BBC,18/04/2024,"['When Sammy left her village in Sichuan province to attend university in northern China more than a decade ago, she was following a well-trodden rite of passage.', 'The English language graduate was the first person in her family to go to university.', 'She had a passion for foreign languages and dreamed of becoming a teacher.', 'She had never heard of synthetic opioids before.', 'After graduating, Sammy found work at a chemicals company in the Chinese city of Shijiazhuang, selling what she thought were chemicals to clients around the world.', 'She would practice English every day speaking to her customers online, and earn a commission for each sale she made.', 'Her dreams of becoming a teacher quickly faded. ""', 'Maybe others are just like me… At the start we don\'t know what we are selling, but when we find out we have fallen in love with the work,"" she said. ""', 'This work can make money,"" she adds.', 'Sammy [not her real name] is an unlikely drug trafficker.', 'She is one of what international law enforcement agencies estimate could be thousands of online sales representatives, working for illicit Chinese pharmaceutical and chemical companies producing and smuggling illegal laboratory made drugs.', 'The US government has long accused China of flooding the country with deadly drugs like fentanyl, a synthetic opioid up to 50 times stronger than heroin, claims the Chinese government denies.', ""The US says Chinese-made opioids are fuelling the worst drug crisis in the country's history."", 'In 2022 more than 70,000 Americans died from fentanyl overdoses.', 'According to a report published by the US select committee on the Chinese Communist Party, the Chinese government provides subsidies to companies openly trafficking illicit synthetic drugs.', 'The report found tens of thousands of posts online advertising illegal drugs and pre-cursors.', 'The study claims that ""wholly state owned"" companies are involved in the trafficking of drugs.', 'The Chinese government has consistently denied knowledge of the illegal drug trade.', 'Many like Sammy fall into the drug trade seemingly by accident, initially unaware of the products they are peddling online and their deadly consequences.', 'But others are more aware of what they are selling.', 'Each morning Sara [not her real name] posts photos and videos across her social media platforms advertising drugs; synthetic cannabinoids, precursors for MDMA, and nitazenes, a synthetic opioid considered up to 50 times more potent than even fentanyl. ""', 'We have many customers in Britain and have cooperated with them many times,"" boasts Sara, an international trade graduate, now working for an online platform.', 'When challenged, she is not drawn into a moral discussion about selling drugs.', 'She claims she never asks customers how they use what she sells.', 'The UK National Crime and Agency (NCA) believes drug dealers are mixing the synthetic opioid with street drugs such as heroin.', 'According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.', 'The BBC has found hundreds of adverts for nitazenes online.', 'Suppliers contacted claim to send shipments through courier services, mislabelling deliveries and hiding drugs in fake packaging.', 'The BBC has also seen courier tracking numbers provided by online sales representative in China claiming to have made successful deliveries across the UK.', 'Sara entered the business after university.', 'She thought she was selling chemicals.', 'She has worked in the industry for two and a half years. ""', 'I know most of the products,"" she says. ""', 'My boss has been running this company for more than seven years, and he knows lots of customers and freight forwarders.', 'If the product is detained, he will lose the most.', 'So he will try his best to make the product reach you smoothly,"" she adds.', 'In March, the UK government classified 15 synthetic opioids as Class A drugs.', 'Under the Misuse of Drugs act anyone caught supplying or producing the drugs could face up to life in prison.', 'Those caught in possession face seven years.', 'According to the United Nations Office on Drugs and Crime (UNODC), China has between 40,000 and 100,000 pharmaceutical companies. ""', 'China has long had one of the most significant pharmaceutical industries in Asia, as well as one of the largest chemical industries.', 'And we\'ve seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""', 'While both industries are regulated, the challenge is significant given the sheer scale, and at the same time there are a number of ways to move products.', 'Parcel post, air freight and shipping containers are all moving globally in high volumes,"" he said.', 'Mr Douglas says that synthetic drugs are disrupting the traditional drug trade.', 'Outside of China, synthetic drugs offer opportunities for both traditional crime organisations and upstarts able to buy directly from producers half a world away. ""', 'Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable.', 'They\'re attractive to traffickers.""', 'That was confirmed in my conversations with sales people working for Chinese pharmaceutical firms. ""', 'First of all, our packaging is completely secret, no one knows what it is until you open it, and second, we will change the name of the package and will not reveal any name about the product,"" says Sara. ""', 'We will get the logistics order number when we send the package, we will track the situation of the package at any time, and any anomalies can be known and solved in time,"" she adds.', ""According to Europol, the European police agency, China is the world's biggest manufacturer and distributor of synthetic, lab-made drugs."", 'Some mimic the effects of traditional drugs like cannabis or cocaine.', 'Chemists synthesise new drugs in order to stay one step ahead of the law. ""', 'It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce. ""', 'I have not seen such a professionalism and a corporate element in this anywhere else in the world.', 'Criminal activity was a type of social mobility.""', 'In 2020, researchers from TraCCC studied over 350 English language websites advertising the synthetic opioid fentanyl. ""', 'From all the adverts that we found, nearly 40% of them were from corporate registries, and the largest hub of that was in Wuhan,"" says Dr Shelly.', 'The sales people contacted by the BBC see the drug trade as simply another aspect of e-commerce.', 'When challenged over selling drugs that damage lives, one described herself as a ""middleman."" ""', 'Somebody needs it, somebody makes it, and I am just a middleman who lets customers know that I have it and what they do with it, I don\'t care,"" she says. ""', 'Then I figured out I just need to make money.', ""I don't know and don't care."", 'Everyone has their own needs.""', 'The woman boasts of clients from Canada to Croatia.', 'She provided photos of recent drugs shipments complete with labels showing a UK address. ""', 'I didn\'t know at first until I went online and translated the product into Chinese,"" she says via a message punctuated with a teary emoji.', 'Another seller says: ""This industry is easy, and you can get higher wages, which attracts a large number of young people"".', 'Natalie [not her real name], focuses on fentanyl. ""', 'We buy from over 10 different labs and have a large selection.', 'I have a professional shipping agent who packaged goods so has a very high delivery success rate to the UK.""', 'Meanwhile, another supplier claimed to be able to smuggle drugs into the UK hidden in dog food packaging. ""', ""You don't need to worry about the packaging."", 'We guarantee you safe delivery."" ""', 'We ship in large quantities all over the world every day.', 'Please trust our professional team.', 'We guarantee 100% safe transportation.""', 'In 2019, the Chinese government banned all forms of fentanyl and its analogues.', 'In January 2024, China and the US launched a joint operation to curb the production of the synthetic opioid fentanyl. ""', 'As long as market demand remains high in some parts of the world then that demand will be met in one way or another,"" said Mr Douglas from the UNODC.']",-0.0146332805685231,"Synthetics like fentanyl have several advantages over traditional drugs - compact, easily shippable, pre-existing demand, replaceable.","It is criminal entrepreneurship, but in a legitimate framework which is really unique,"" says Dr Louise Shelley the director of the Terrorism, Transnational Crime and Corruption Center (TraCCC) at George Mason University, and author of Dark Commerce. """,0.3921927426542554,"And we've seen industry growth in other countries of the region,"" said Jeremy Douglas in late 2023, the then regional representative of the UNODC . ""","According to the NCA, there have been more than 100 deaths linked to nitazenes over the past nine months, leading health professionals to warn the UK may be facing a drug-related crisis.",2024-04-24
-How fraudsters are getting fake articles onto Facebook,https://www.bbc.co.uk/news/business-68843985,2024-04-24T23:08:44.000Z,"I have been really busy recently, writing articles about famous people. I've done interviews with the likes of Zoe Ball, Jeremy Clarkson and Chris Tarrant. There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies. And if this all sounds a bit unbelievable, that's because it is - I hadn't done a single one of these interviews, nor written any of the articles. And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind. Instead, the fake stories were all AI-generated scams that appeared on Facebook news feeds in a BBC template, and with my byline. The fraudsters behind them hope that people will click through to the full article, and from there be tempted to invest in a fake investment scheme being promoted on the page. I was curious as to how these scam posts were getting onto Facebook in the first place, so I contacted Tony Gee, a senior consultant at cybersecurity firm Penn Test Partners. After examining the URL, or web address, of one scam page he said it was most likely a paid-for Facebook advert. Mr Gee said he could tell that because the URL had a unique value that Facebook adds to allow it to track outbound clicks. I put this finding to Facebook's owner Meta, who said: ""We don't allow fraudulent activity on our platforms, and have removed the ads brought to our attention."" But how are the scammers able to get the fake ads onto Facebook news feeds in the first place? How can they get past Facebook's automated detection systems? Prof Alan Woodward, a computer scientist at the University of Surrey, says the criminals appear to be using tools that very quickly redirect users to another web page. So when the advert is first placed with Facebook, the link goes through to a harmless page, one that doesn't try to con you out of your cash. But then once this has been approved by Facebook, the fraudsters then put on a redirect that instantly takes people somewhere else - to a web page that very much wants to maliciously dent your bank account. ""If you control a website then it is relatively easy to include a redirect command, such that before someone's browser has had a chance to show them the original webpage, their browser is sent to an alternative one,"" says Prof Woodward. He adds that the fraudsters can quickly and easily keep changing the destination of the redirect. ""As soon as you are able to obfuscate the true nature of a URL, that is manna for scammers,"" he says. This is a type of online fraud called ""cloaking"", whereby malicious adverts are able to get past a social media firm's review stage because the fraudsters have hidden their intensions. Meta says it is using what it has learnt about this technique to improve its automated detection systems. Read more stories on artificial intelligence Margaret (not her real name) is a retiree who lives in Buckinghamshire. She was recently conned out of £250 when she fell victim to fake advert on Instagram, which is also owned by Meta. She had been tempted to click on a link to a fictitious ITV article in which presenter Robert Peston (or rather, a scammer pretending it was him), chats about an investment opportunity he had come across. Margaret who trusts Mr Peston and the ITV brand decided to invest. In addition to paying the £250, Margaret sent off pictures of her passport, and both sides of her credit card. She immediately started getting phone calls. ""It was someone with an American accent welcoming me and saying my money was already making money,"" she tells me. The phone calls kept coming, as did a torrent of emails. Margaret became suspicious, particularly when they started asking her about her income and savings, and when she intended to invest more money. ""I contacted my bank and was refunded but it didn't stop the scammers."" Margaret still receives daily calls, and even started getting them from someone purporting to be from the US National Security Agency promising to help her investigate the scam. ""My own mental health is being impacted and I believe I am at risk, in particular identity theft and indeed potential monetary theft,"" she says. ""They are so mega persistent, and are dangerous pests."" It is an issue that UK consumer watchdog Which? has been looking into. ""Malicious advertisers may mask web links or impersonate trusted brands such as the BBC to evade online platforms' reporting systems, and people often don't know they're looking at a scam or a deepfake until it's too late,"" says Rocio Concha, its director of policy and advocacy. ""It should not fall on consumers to protect themselves from this fraudulent content online. Ofcom must use its powers under the Online Safety Act  [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers."" Ofcom said in a statement that tackling fraud ""is a priority"" for the regulator. ""The UK's new online safety laws will be an important part of making it harder for fraudsters to operate,"" it added. ""Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it."" Nicolas Corry is managing director at financial investigation firm Skadi. He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. ""These companies are making vast amounts of profits, and exposing people to fraud,"" he adds. ""And then it's the finance companies that pay for this, or the victims themselves."" Mr Corry says social media firms should be more rigorously checking each advert, and its links, before they allow them to go up.  ",BBC,24/04/2024,"['I have been really busy recently, writing articles about famous people.', ""I've done interviews with the likes of Zoe Ball, Jeremy Clarkson and Chris Tarrant."", 'There has been a common theme to these stories, and it is all about how each celebrity made vast sums of money from an online investment opportunity in crypto currencies.', ""And if this all sounds a bit unbelievable, that's because it is - I hadn't done a single one of these interviews, nor written any of the articles."", 'And none of the famous people involved, or me, would dream of endorsing crypto investments of any kind.', 'Instead, the fake stories were all AI-generated scams that appeared on Facebook news feeds in a BBC template, and with my byline.', 'The fraudsters behind them hope that people will click through to the full article, and from there be tempted to invest in a fake investment scheme being promoted on the page.', 'I was curious as to how these scam posts were getting onto Facebook in the first place, so I contacted Tony Gee, a senior consultant at cybersecurity firm Penn Test Partners.', 'After examining the URL, or web address, of one scam page he said it was most likely a paid-for Facebook advert.', 'Mr Gee said he could tell that because the URL had a unique value that Facebook adds to allow it to track outbound clicks.', 'I put this finding to Facebook\'s owner Meta, who said: ""We don\'t allow fraudulent activity on our platforms, and have removed the ads brought to our attention.""', 'But how are the scammers able to get the fake ads onto Facebook news feeds in the first place?', ""How can they get past Facebook's automated detection systems?"", 'Prof Alan Woodward, a computer scientist at the University of Surrey, says the criminals appear to be using tools that very quickly redirect users to another web page.', ""So when the advert is first placed with Facebook, the link goes through to a harmless page, one that doesn't try to con you out of your cash."", 'But then once this has been approved by Facebook, the fraudsters then put on a redirect that instantly takes people somewhere else - to a web page that very much wants to maliciously dent your bank account. ""', 'If you control a website then it is relatively easy to include a redirect command, such that before someone\'s browser has had a chance to show them the original webpage, their browser is sent to an alternative one,"" says Prof Woodward.', 'He adds that the fraudsters can quickly and easily keep changing the destination of the redirect. ""', 'As soon as you are able to obfuscate the true nature of a URL, that is manna for scammers,"" he says.', 'This is a type of online fraud called ""cloaking"", whereby malicious adverts are able to get past a social media firm\'s review stage because the fraudsters have hidden their intensions.', 'Meta says it is using what it has learnt about this technique to improve its automated detection systems.', 'Read more stories on artificial intelligence Margaret (not her real name) is a retiree who lives in Buckinghamshire.', 'She was recently conned out of £250 when she fell victim to fake advert on Instagram, which is also owned by Meta.', 'She had been tempted to click on a link to a fictitious ITV article in which presenter Robert Peston (or rather, a scammer pretending it was him), chats about an investment opportunity he had come across.', 'Margaret who trusts Mr Peston and the ITV brand decided to invest.', 'In addition to paying the £250, Margaret sent off pictures of her passport, and both sides of her credit card.', 'She immediately started getting phone calls. ""', 'It was someone with an American accent welcoming me and saying my money was already making money,"" she tells me.', 'The phone calls kept coming, as did a torrent of emails.', 'Margaret became suspicious, particularly when they started asking her about her income and savings, and when she intended to invest more money. ""', 'I contacted my bank and was refunded but it didn\'t stop the scammers.""', 'Margaret still receives daily calls, and even started getting them from someone purporting to be from the US National Security Agency promising to help her investigate the scam. ""', 'My own mental health is being impacted and I believe I am at risk, in particular identity theft and indeed potential monetary theft,"" she says. ""', 'They are so mega persistent, and are dangerous pests.""', 'It is an issue that UK consumer watchdog Which?', 'has been looking into. ""', 'Malicious advertisers may mask web links or impersonate trusted brands such as the BBC to evade online platforms\' reporting systems, and people often don\'t know they\'re looking at a scam or a deepfake until it\'s too late,"" says Rocio Concha, its director of policy and advocacy. ""', 'It should not fall on consumers to protect themselves from this fraudulent content online.', 'Ofcom must use its powers under the Online Safety Act [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers.""', 'Ofcom said in a statement that tackling fraud ""is a priority"" for the regulator. ""', 'The UK\'s new online safety laws will be an important part of making it harder for fraudsters to operate,"" it added. ""', 'Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it.""', 'Nicolas Corry is managing director at financial investigation firm Skadi.', 'He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. ""', 'These companies are making vast amounts of profits, and exposing people to fraud,"" he adds. ""', 'And then it\'s the finance companies that pay for this, or the victims themselves.""', 'Mr Corry says social media firms should be more rigorously checking each advert, and its links, before they allow them to go up.']",-0.0567924797953978,"Ofcom must use its powers under the Online Safety Act [which was passed late last year] to ensure that online platforms are verifying the legitimacy of their advertisers to prevent scammers reaching consumers.""","Under the new laws, online services will be required to assess the risk of their users being harmed by illegal content on their platforms - including fraud, take appropriate steps to protect their users, and remove illegal content when they identify it or are told about it.""",-0.0352201461791992,Meta says it is using what it has learnt about this technique to improve its automated detection systems.,"He says he was ""troubled"" by the amount of causal fraud occurring on Facebook and other social media sites. """,2024-04-24
-What is Bitcoin? Key cryptocurrency terms and what they mean,https://www.bbc.co.uk/news/world-us-canada-63963079,2022-12-13T23:07:08.000Z,"After Bitcoin's price banked a new all time high in March, the sticky subject of cryptocurrencies is back in the spotlight.  And while crypto market-moving events such as Bitcoin ""halving"" or the launch of ""spot ETFs"" may be familiar to crypto fans, their meaning is less obvious to many. But worry not. If you're hearing these for the first time, or just need a refresher, here are a few key words and what they mean. While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin. But what actually is it? Bitcoin is a cryptocurrency, which is to say a type of digital currency. Unlike traditional currencies - the dollar or pound, for example - Bitcoin is not controlled by centralised financial institutions. This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile - rising and falling in value at the whim of Bitcoin buyers and sellers.   Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high. But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched. The blockchain, the system that underpins Bitcoin, is sustained by rewarding so-called ""miners"" - whose job it is to validate transactions - by paying them with the cryptocurrency. However, unlike some other digital currencies, there is not an infinite supply of bitcoins. The amount that can be mined is capped at 21 million, and most are already in circulation.  So roughly every four years - or when the Bitcoin blockchain reaches a certain size - the number of bitcoins rewarded to those who successfully validate transactions is cut in half. The most recent Bitcoin ""halving"" (or ""halvening"") event took place on 20 April 2024, reducing the reward for miners from 6.25 bitcoins to 3.125. This ensures Bitcoin's supply is drawn out for longer while demand, in theory, goes up over time. But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers. Blockchain is the technology underpinning all cryptocurrencies, and many related products like non fungible tokens (NFTs). In essence, it is a virtual spreadsheet on which all the buying and selling of crypto is recorded. They are arranged in blocks linked together in a giant chain - hence the name.  Every cryptocurrency transaction is individually recorded onto the blockchain by a huge network of volunteers verifying its authenticity by using computer programmes.  The incentive to do this for Bitcoin's network is that the first person to validate transactions is rewarded in Bitcoin. This potentially lucrative process, known as mining, is also controversial because of the incredible amount of energy used as people the world over race to be the first to successfully update the blockchain. A crypto exchange is the digital platform where investors can buy, sell and trade cryptocurrencies. Similar to traditional investing, a crypto exchange acts as a brokerage where people can transfer traditional money, like pounds or dollars, from their banks into cryptocurrencies like Bitcoin or Ethereum. Most transactions are accompanied by fees. A crypto wallet is a place where investors hold their cryptocurrency. It stores the virtual assets much like a traditional wallet holds cash. There are two types, a hot wallet and a cold wallet. Hot wallets are connected to the internet, and thus more accessible for quick transfers and easy access. Cold wallets are physical devices like specially designed USBs that store crypto offline typically for safer and longer term storage. Ethereum is used to describe both the second largest cryptocurrency after Bitcoin, represented by the Ether token, and the blockchain underpinning it. This supports an array of different applications and digital assets, such as non-fungible tokens.  It functions in a similar way to Bitcoin and other cryptocurrencies, but in 2022 switched to a greener operating system requiring less computers and energy. ETFs are portfolios that let investors bet on multiple assets without having to buy any themselves. Traded on stock exchanges like shares, their value depends on how the overall portfolio performs in real time. They can comprise a combination of gold and silver bullion, for example, or a mix of shares in both technology and insurance companies. A spot Bitcoin ETF buys the cryptocurrency directly, ""on the spot"", at its current price, throughout the day. While some ETFs already contained Bitcoin indirectly, the US approved several spot Bitcoin ETFs in January 2024. This allowed new investors, such as investment management firms like Blackrock and Fidelity, to enter the speculative world of Bitcoin without having to worry about digital wallets or navigating crypto exchanges. ",BBC,13/12/2022,"[""After Bitcoin's price banked a new all time high in March, the sticky subject of cryptocurrencies is back in the spotlight."", 'And while crypto market-moving events such as Bitcoin ""halving"" or the launch of ""spot ETFs"" may be familiar to crypto fans, their meaning is less obvious to many.', 'But worry not.', ""If you're hearing these for the first time, or just need a refresher, here are a few key words and what they mean."", 'While many may struggle with the finer points of crypto, pretty much everyone has heard of its most famous product: Bitcoin.', 'But what actually is it?', 'Bitcoin is a cryptocurrency, which is to say a type of digital currency.', 'Unlike traditional currencies - the dollar or pound, for example - Bitcoin is not controlled by centralised financial institutions.', 'This makes it popular for people who think decentralisation can bring financial freedom, but it also makes it extremely volatile - rising and falling in value at the whim of Bitcoin buyers and sellers.', 'Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high.', 'But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched.', 'The blockchain, the system that underpins Bitcoin, is sustained by rewarding so-called ""miners"" - whose job it is to validate transactions - by paying them with the cryptocurrency.', 'However, unlike some other digital currencies, there is not an infinite supply of bitcoins.', 'The amount that can be mined is capped at 21 million, and most are already in circulation.', 'So roughly every four years - or when the Bitcoin blockchain reaches a certain size - the number of bitcoins rewarded to those who successfully validate transactions is cut in half.', 'The most recent Bitcoin ""halving"" (or ""halvening"") event took place on 20 April 2024, reducing the reward for miners from 6.25 bitcoins to 3.125.', ""This ensures Bitcoin's supply is drawn out for longer while demand, in theory, goes up over time."", 'But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers.', 'Blockchain is the technology underpinning all cryptocurrencies, and many related products like non fungible tokens (NFTs).', 'In essence, it is a virtual spreadsheet on which all the buying and selling of crypto is recorded.', 'They are arranged in blocks linked together in a giant chain - hence the name.', 'Every cryptocurrency transaction is individually recorded onto the blockchain by a huge network of volunteers verifying its authenticity by using computer programmes.', ""The incentive to do this for Bitcoin's network is that the first person to validate transactions is rewarded in Bitcoin."", 'This potentially lucrative process, known as mining, is also controversial because of the incredible amount of energy used as people the world over race to be the first to successfully update the blockchain.', 'A crypto exchange is the digital platform where investors can buy, sell and trade cryptocurrencies.', 'Similar to traditional investing, a crypto exchange acts as a brokerage where people can transfer traditional money, like pounds or dollars, from their banks into cryptocurrencies like Bitcoin or Ethereum.', 'Most transactions are accompanied by fees.', 'A crypto wallet is a place where investors hold their cryptocurrency.', 'It stores the virtual assets much like a traditional wallet holds cash.', 'There are two types, a hot wallet and a cold wallet.', 'Hot wallets are connected to the internet, and thus more accessible for quick transfers and easy access.', 'Cold wallets are physical devices like specially designed USBs that store crypto offline typically for safer and longer term storage.', 'Ethereum is used to describe both the second largest cryptocurrency after Bitcoin, represented by the Ether token, and the blockchain underpinning it.', 'This supports an array of different applications and digital assets, such as non-fungible tokens.', 'It functions in a similar way to Bitcoin and other cryptocurrencies, but in 2022 switched to a greener operating system requiring less computers and energy.', 'ETFs are portfolios that let investors bet on multiple assets without having to buy any themselves.', 'Traded on stock exchanges like shares, their value depends on how the overall portfolio performs in real time.', 'They can comprise a combination of gold and silver bullion, for example, or a mix of shares in both technology and insurance companies.', 'A spot Bitcoin ETF buys the cryptocurrency directly, ""on the spot"", at its current price, throughout the day.', 'While some ETFs already contained Bitcoin indirectly, the US approved several spot Bitcoin ETFs in January 2024.', 'This allowed new investors, such as investment management firms like Blackrock and Fidelity, to enter the speculative world of Bitcoin without having to worry about digital wallets or navigating crypto exchanges.']",0.2672071279961822,"But with fewer rewards for miners, it can also lead some to consider whether it is financially worthwhile for them to continue the costly operation of running their powerful computers.",But worry not.,-0.0973098344273037,"Throughout February and March 2024, its price rose rapidly and it briefly reached a new record high.",But its value can plummet just as quickly as it spikes - a pattern which has been repeated multiple times since the cryptocurrency was launched.,2024-04-24
-Even in peaceful countries be ready for a siren blast,https://www.bbc.co.uk/news/business-68761255,2024-04-11T23:13:02.000Z,"I was halfway through my morning run when I heard it. The sound of the apocalypse. An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT. I glanced at the sky. But nobody else nearby seemed to be taking any notice. My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out. It was the same at the supermarket on the way home. The din of the siren was audible across East Belfast, and yet, life continued as normal.  The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour. It is a fire alarm and has to be so loud partly because of the large size of the facility in question. This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids. Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories. Just in case. ""That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""You need to get people's attention."" He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits. It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions.  These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free. He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades. In the UK, there are air raid-style sirens in a number of locations. Notably, at the Royal Navy base in Portsmouth. This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.  A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored. There are no plans to change the emergency alarm system."" Some siren locations are, perhaps, less obvious. Take The State Hospital, a psychiatric hospital in Carstairs, Scotland. Its siren system was sounded, for example, when two murderers escaped in the 1970s. Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message. Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems. Take Hampton Water Treatment Works in West London - even it has a siren.  In Bradford, there is a siren at a large chemical plant owned by Solenis. In information sent to locals, the company explains why an accident might be harmful. A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries."" Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"". More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products. It too has a siren system in place to warn people in the event of a chemical emergency . These are just some examples. There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren. One siren aficionado has even marked the locations of these systems on an online map.  The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour. But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard. H&W confirms that this was not the case. The incident raises the question: Would people react appropriately during a real emergency? People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management.  ""So [they] are familiar - 'Hey, I know this sound, it's not a scary sound, it's an action sound - I need to do something',"" she explains. Failing to activate a siren during an emergency could also be harmful. Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023. Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response.  ""We need a series of pieces of information or else it's difficult to prompt people to act,"" she says. The range of situations that might require a siren around the world are extremely varied. Sentry Siren, for instance, recently shipped five of its units to Iceland. They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months. And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems. Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat."" Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise. But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements. The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood. Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency. These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally. Most of the time, thankfully, there's no emergency. There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts. Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn't you use all the tools available to you?"" ",BBC,11/04/2024,"['I was halfway through my morning run when I heard it.', 'The sound of the apocalypse.', 'An air raid-style siren, slowly wailing up and down in pitch, was blaring over Belfast at 0830 GMT.', 'I glanced at the sky.', 'But nobody else nearby seemed to be taking any notice.', ""My wife, who had her earphones in, hadn't heard the noise at all until I pointed it out."", 'It was the same at the supermarket on the way home.', 'The din of the siren was audible across East Belfast, and yet, life continued as normal.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel storage facility in Belfast Harbour.', 'It is a fire alarm and has to be so loud partly because of the large size of the facility in question.', 'This kind of siren, so strongly associated in Britain with World War Two, is actually more than a century old, and has been used for all kinds of emergencies - not just Luftwaffe bombing raids.', 'Other sounds and tones are sometimes deployed for outdoor alerts, but that lazily wavering siren that is so strange and chilling is still in place at multiple sites around the country - from military bases to chemical factories.', 'Just in case. ""', 'That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""', 'You need to get people\'s attention.""', 'He explains that the sound is produced by a fast rotating fan inside a flat cylindrical housing, the outer rim of which is perforated with slits.', ""It's the forcing of air through these slits, at oscillating speeds, that creates the extremely loud wail in all directions."", 'These days, this sound can be replicated by a digital recording played through loudspeakers but Mr Kerr argues that mechanical wailing sirens, which have been manufactured since at least 1905, are proven, reliable and nearly maintenance-free.', 'He says some sirens made by his firm, previously known as Sterling Siren Fire Alarm Company, have been in place for many decades.', 'In the UK, there are air raid-style sirens in a number of locations.', 'Notably, at the Royal Navy base in Portsmouth.', 'This siren, which is tested regularly, would be used to warn members of the public about an accident with the nuclear-powered submarines that are stationed there.', 'A spokesman for the Ministry of Defence says that there are also outdoor warning alarms at naval bases on the River Clyde in Scotland and Devonport in Plymouth: ""The sirens are regularly maintained and monitored.', 'There are no plans to change the emergency alarm system.""', 'Some siren locations are, perhaps, less obvious.', 'Take The State Hospital, a psychiatric hospital in Carstairs, Scotland.', 'Its siren system was sounded, for example, when two murderers escaped in the 1970s.', 'Broadmoor used to have a siren but this was decommissioned in 2019 and, if a dangerous individual were to escape the hospital now, an alert would be sent to locals in the form of an email or text message.', 'Industrial sites that handle significant quantities of hazardous materials are also legally required to have outdoor warning systems.', 'Take Hampton Water Treatment Works in West London - even it has a siren.', 'In Bradford, there is a siren at a large chemical plant owned by Solenis.', 'In information sent to locals, the company explains why an accident might be harmful.', 'A toxic cloud could form or, for example: ""A release of a flammable vapour, with subsequent ignition, may result in an explosion with the potential for damage both within the Solenis site, and outside its boundaries.""', 'Advice from the company explains that, if people hear the siren when it is not due to be tested, they should shelter in their homes, close all windows and curtains, block incoming draughts, switch on the radio and ""stay calm and rest"".', 'More technology of business In Huddersfield, chemical company Syngenta makes insecticides and other agricultural products.', 'It too has a siren system in place to warn people in the event of a chemical emergency .', 'These are just some examples.', 'There are dozens of outdoor warning sirens around the UK and many, though not all, use the familiar wailing pattern of a traditional air raid-style siren.', 'One siren aficionado has even marked the locations of these systems on an online map.', 'The bizarre Belfast siren was, the BBC understands, associated with a fuel processing facility in Belfast Harbour.', ""But online rumours had claimed the noise signalled the movement of cranes at Belfast's famous Harland & Wolff (H&W) shipyard."", 'H&W confirms that this was not the case.', 'The incident raises the question: Would people react appropriately during a real emergency?', 'People must be informed about what sirens in their area might be used for says Andrea Davis, president and chief executive of The Resiliency Initiative, a US firm that advises communities on emergency management. ""', 'So [they] are familiar - \'Hey, I know this sound, it\'s not a scary sound, it\'s an action sound - I need to do something\',"" she explains.', 'Failing to activate a siren during an emergency could also be harmful.', 'Mrs Davis criticises officials in Hawaii for not using outdoor sirens when a devastating wildfire hit Maui in August 2023.', 'Erica Kuligowski, a social scientist at RMIT University in Australia, who has studied the efficacy of emergency warning systems agrees that sirens must be packaged with additional information that makes it clear what the warning is about, and what people should do in response. ""', 'We need a series of pieces of information or else it\'s difficult to prompt people to act,"" she says.', 'The range of situations that might require a siren around the world are extremely varied.', 'Sentry Siren, for instance, recently shipped five of its units to Iceland.', ""They'll be used to alert people to volcanic activity, which has caused significant disruption in Iceland in recent months."", ""And Monika Pavlik, international business manager at Telegrafia, a Slovakia-based siren manufacturer, says her firm's devices have been deployed in Ukraine where they are used as contemporary air raid warning systems."", 'Countries neighbouring Ukraine, fearful of Russian aggression, are increasingly interested in such sirens, she adds: ""It is a constant threat.""', 'Telegrafia specialises in sirens that use digital recordings rather than mechanical components for producing noise.', 'But this means the devices can blast verbal information across an area or turn text into explanatory spoken word announcements.', ""The company's sirens, which are installed in 93 countries around the world, can also be triggered automatically - for example by sensors detecting a flood."", 'Or, a government could set off connected sirens across an entire country in the event of a nationwide emergency.', 'These days, sirens tend to make the news as false alarms, or when tests of siren systems are reported locally.', ""Most of the time, thankfully, there's no emergency."", ""There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts."", 'Despite the rise of alternative technologies such as mobile phone alerts, there is still huge demand for traditional outdoor warning sirens, says Mr Kerr of Sentry Siren: ""Why wouldn\'t you use all the tools available to you?""']",-0.1702984417179804,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. ""","There's always a risk that people will ignore these audible warnings when something really has gone wrong, however, which is why taking multiple steps to inform the public about an unfolding disaster or accident is so important, say experts.",0.2383095145225525,"That wail pattern does a great job,"" says Evan Kerr, VP of operations at Sentry Siren, a US firm that still makes mechanical sirens. """,Failing to activate a siren during an emergency could also be harmful.,2024-04-24
-"US Grand Prix organizers promised a star performer. Now, with a superstar in the works, it’s offering to buy back tickets",https://edition.cnn.com/2024/04/20/business/us-grand-prix-performer-buy-back-tickets/index.html,"
-  Published
-        3:00 AM EDT, Sat April 20, 2024
-    ","This year’s musical performer at the Formula 1 United States Grand Prix in Austin, Texas, is so big, Circuit of the Americas (COTA) is offering to buy “early bird” tickets back from buyers and pay ticket holders an extra $50.
-    
-            Similar to a music festival, the Grand Prix has artists perform before the race. That’s usually all pretty standard, but whoever is chosen is so high-profile that many fans believe COTA can turn a bigger profit by reselling tickets at higher prices than the initial $299 fee.
-    
-            The identity of the musical guest, meanwhile, remains a mystery.
-    
-            “Taylor (Swift) was here a few years ago, and I’ll say this is the biggest we’ve had since then,” COTA founding partner Bobby Epstein told CNN on Friday.
-    
-            Britney Spears, Bruno Mars and Billy Joel are just some of the stars who have performed at the Grand Prix in Austin.
-    
-            COTA will announce the entertainment lineup on April 29, and early bird buyers have until May 6 to sell back their ticket for $350.
-    
-            But fans commenting on the official COTA page call the company scalpers for their own event’s tickets. Others say they could resell their tickets through a third party themselves for a much higher profit than $50. 
-    
-            “I don’t think anyone’s going to want to sell their tickets (once the lineup is announced),” Epstein said. After the backlash, Epstein told CNN that he expects COTA to raise the price of the buyback.
-    
-            “It just illustrates that (early bird buyers) got a really good value on their purchase and hopefully, they’ll be there for us again in the future,” Epstein said.
-    
-            The offer was for any general admission three-day weekend grounds pass.
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-            Epstein said COTA sold more than 10,000 early bird general admission ground passes. He suggested the limited number of general admission tickets that will be released after the announcement of the artist will still be priced below $400. Last year’s general admission price was around $475.
-    
-            The Grand Prix runs from October 18-20.
-    
-            General admission seating is among the most basic options for a race known for its glitz and glamour. Private air-conditioned suites and club seats run into the thousands.
-    
-            “It’s not about buying back your ticket and making a profit on it at all,” Epstein said. “It was about just demonstrating the value that we see in our tickets and that we appreciate that those buyers saw.”",CNN,20/04/2024,"['This year’s musical performer at the Formula 1 United States Grand Prix in Austin, Texas, is so big, Circuit of the Americas (COTA) is offering to buy “early bird” tickets back from buyers and pay ticket holders an extra $50.', 'Similar to a music festival, the Grand Prix has artists perform before the race.', 'That’s usually all pretty standard, but whoever is chosen is so high-profile that many fans believe COTA can turn a bigger profit by reselling tickets at higher prices than the initial $299 fee.', 'The identity of the musical guest, meanwhile, remains a mystery.', '“Taylor (Swift) was here a few years ago, and I’ll say this is the biggest we’ve had since then,” COTA founding partner Bobby Epstein told CNN on Friday.', 'Britney Spears, Bruno Mars and Billy Joel are just some of the stars who have performed at the Grand Prix in Austin.', 'COTA will announce the entertainment lineup on April 29, and early bird buyers have until May 6 to sell back their ticket for $350.', 'But fans commenting on the official COTA page call the company scalpers for their own event’s tickets.', 'Others say they could resell their tickets through a third party themselves for a much higher profit than $50.', '“I don’t think anyone’s going to want to sell their tickets (once the lineup is announced),” Epstein said.', 'After the backlash, Epstein told CNN that he expects COTA to raise the price of the buyback.', '“It just illustrates that (early bird buyers) got a really good value on their purchase and hopefully, they’ll be there for us again in the future,” Epstein said.', 'The offer was for any general admission three-day weekend grounds pass.', 'Epstein said COTA sold more than 10,000 early bird general admission ground passes.', 'He suggested the limited number of general admission tickets that will be released after the announcement of the artist will still be priced below $400.', 'Last year’s general admission price was around $475.', 'The Grand Prix runs from October 18-20.', 'General admission seating is among the most basic options for a race known for its glitz and glamour.', 'Private air-conditioned suites and club seats run into the thousands.', '“It’s not about buying back your ticket and making a profit on it at all,” Epstein said. “', 'It was about just demonstrating the value that we see in our tickets and that we appreciate that those buyers saw.”']",0.3175449694451401,"“It just illustrates that (early bird buyers) got a really good value on their purchase and hopefully, they’ll be there for us again in the future,” Epstein said.",He suggested the limited number of general admission tickets that will be released after the announcement of the artist will still be priced below $400.,0.9857966899871826,"“It just illustrates that (early bird buyers) got a really good value on their purchase and hopefully, they’ll be there for us again in the future,” Epstein said.",,2024-04-24
-"Meet the private doctor to the wealthy — at $40,000 a year",https://www.cnbc.com/2024/04/22/meet-the-private-doctor-to-the-wealthy-at-40000-a-year.html,2024-04-22T18:26:03+0000,"A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.When people ask Dr. Jordan Shlain to describe his medical practice, he says simply: ""It's a family office for your health.""""Family offices typically have a goal of preserving wealth,"" he said. ""Our goal is preserving your health. After the age of 24 you're a depreciating asset health-wise. So we aim to decrease the slope of the curve for as long as possible.""As depressing as that sounds for patients, Shlain's strategy is paying off as a business model. His company, Private Medical, is at the forefront of a new type of health care for the ultra-wealthy that has taken concierge medicine to a whole new level. Rather than simply offering on-call doctors and faster visits, Private Medical has pioneered a highly personalized, all-in-one service that's more akin to the most sophisticated family offices for investments.Like family offices, Private Medical has an in-house team to manage a family's entire health portfolio – from fitness and dietary tracking to longevity research, surgeries and medical emergencies. It now serves more than 1,000 wealthy families, with offices in California — San Francisco, Silicon Valley, Santa Monica and Beverly Hills — New York and Miami, and more offices on the way.Private Medical's team of 135 physicians, nurses, clinical staff, pharmacists and medical support professionals provides 24/7 on-call service, including home and office visits when needed. Private Medical doesn't advertise and gets most of its business through referrals. It prefers to call patients ""members.""Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18. The annual fees cover the cost of visits, tests and procedures in the office, but not hospitalization.The rise of family office-style medical practices – some of which are charging up to $60,000 a year for membership – reflects the surge in wealth among families worth $100 million or more and growing demand for hyper-personalized, data-driven health care from an aging class of billionaires and millionaires.The market for concierge and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, to nearly $11 billion a year, according to Precedence Research.Shlain says insurance companies, overloaded doctors and inflated prices have turned the health-care system into what he calls a ""sick care system."" Private Medical, for those who can afford it, aims to be proactive, running frequents tests and diagnostics on patients, constantly updating them with new research and science, and getting detailed information about a patient's lifestyle, habits, family lives and work lives, Shlain said.Shlain, whose father was a laparoscopic surgeon and whose mother had a Ph.D. in psychology, started out doing house calls for the Mandarin Oriental hotel in San Francisco. He took a ""crash course"" in high-end hospitality from top hotel concierges and realized health care should be more like five-star hotel service than an impersonal system of long wait times and error-filled diagnoses.  ""I will know everything about you to help you make the best decisions in your life,"" he said. ""I'm 70% doctor, 15% psychologist, 10% rabbi and 1% friend.""Private Medical's job is often to protect its patients from the broader medical system, Shlain said. One of his patients, a 38-year-old entrepreneur and big donor to a major hospital, was admitted for a bowel obstruction. The hospital CEO and chief of surgery rushed to start performing surgery. Shlain pushed back and recommended waiting a day or two. The patient recovered on his own while in the hospital ""and walked out without surgery,"" Shlain said.Shlain also creates personalized medical kits for patients to take with them when traveling or working. When one patient scratched his cornea playing beach volleyball in the Bahamas, the patient was able to treat his eye with a prescription in his medical kit rather than searching for a hospital on one of the nearby islands.Like most services for the ultra-wealthy, the main benefit of Private Medical is access. Shlain has spent over 20 years developing relationships with more than 4,000 specialists in various medical and scientific fields to connect patients with the right person for their specific needs.With roots in Silicon Valley and many tech clients, Private Medical is also connected to biotech startups doing cutting-edge research and exploring new treatments. Shlain said Private Medical conducts due diligence on four or five new companies a month to keep pace with fast-changing science and research.When one patient was diagnosed with severe depression, Shlain worked with a new ""precision psychiatric"" group at Stanford that does an MRI of the brain and uses connectomes (a map of the neural connections in the brain) to determine which medication was best for treatment.""He got the right medication, and now he's better,"" Shlain said.Private Medical also prides itself on its technology, developed with some of the top CEOs and entrepreneurs in Silicon Valley. Its platform helps both doctors and patients easily access data, manage appointments and workflows.Two big areas for his wealthy patients are longevity and sleep. With longevity, Shlain said there's no magic bullet or diet or medication to roll back time, even for billionaires. The real goal, he said is to ""enable you to live with your physical and mental faculties intact for as long as possible with the fewest high-quality interactions with the health-care system as possible.""""Your good outcome is our income,"" he said.Sign up to receive future editions of CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,22/04/2024,"[""A version of this article first appeared in CNBC's Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer."", 'Sign upto receive future editions, straight to your inbox.', 'When people ask Dr. Jordan Shlain to describe his medical practice, he says simply: ""It\'s a family office for your health.', '""""Family offices typically have a goal of preserving wealth,"" he said. ""', 'Our goal is preserving your health.', ""After the age of 24 you're a depreciating asset health-wise."", 'So we aim to decrease the slope of the curve for as long as possible.', '""As depressing as that sounds for patients, Shlain\'s strategy is paying off as a business model.', 'His company, Private Medical, is at the forefront of a new type of health care for the ultra-wealthy that has taken concierge medicine to a whole new level.', ""Rather than simply offering on-call doctors and faster visits, Private Medical has pioneered a highly personalized, all-in-one service that's more akin to the most sophisticated family offices for investments."", ""Like family offices, Private Medical has an in-house team to manage a family's entire health portfolio – from fitness and dietary tracking to longevity research, surgeries and medical emergencies."", 'It now serves more than 1,000 wealthy families, with offices in California — San Francisco, Silicon Valley, Santa Monica and Beverly Hills — New York and Miami, and more offices on the way.', ""Private Medical's team of 135 physicians, nurses, clinical staff, pharmacists and medical support professionals provides 24/7 on-call service, including home and office visits when needed."", ""Private Medical doesn't advertise and gets most of its business through referrals."", 'It prefers to call patients ""members.', '""Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18.', 'The annual fees cover the cost of visits, tests and procedures in the office, but not hospitalization.', 'The rise of family office-style medical practices – some of which are charging up to $60,000 a year for membership – reflects the surge in wealth among families worth $100 million or more and growing demand for hyper-personalized, data-driven health care from an aging class of billionaires and millionaires.', 'The market for concierge and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, to nearly $11 billion a year, according to Precedence Research.', 'Shlain says insurance companies, overloaded doctors and inflated prices have turned the health-care system into what he calls a ""sick care system.""', ""Private Medical, for those who can afford it, aims to be proactive, running frequents tests and diagnostics on patients, constantly updating them with new research and science, and getting detailed information about a patient's lifestyle, habits, family lives and work lives, Shlain said."", 'Shlain, whose father was a laparoscopic surgeon and whose mother had a Ph.D. in psychology, started out doing house calls for the Mandarin Oriental hotel in San Francisco.', 'He took a ""crash course"" in high-end hospitality from top hotel concierges and realized health care should be more like five-star hotel service than an impersonal system of long wait times and error-filled diagnoses. ""', 'I will know everything about you to help you make the best decisions in your life,"" he said. ""', ""I'm 70% doctor, 15% psychologist, 10% rabbi and 1% friend."", '""Private Medical\'s job is often to protect its patients from the broader medical system, Shlain said.', 'One of his patients, a 38-year-old entrepreneur and big donor to a major hospital, was admitted for a bowel obstruction.', 'The hospital CEO and chief of surgery rushed to start performing surgery.', 'Shlain pushed back and recommended waiting a day or two.', 'The patient recovered on his own while in the hospital ""and walked out without surgery,"" Shlain said.', 'Shlain also creates personalized medical kits for patients to take with them when traveling or working.', 'When one patient scratched his cornea playing beach volleyball in the Bahamas, the patient was able to treat his eye with a prescription in his medical kit rather than searching for a hospital on one of the nearby islands.', 'Like most services for the ultra-wealthy, the main benefit of Private Medical is access.', 'Shlain has spent over 20 years developing relationships with more than 4,000 specialists in various medical and scientific fields to connect patients with the right person for their specific needs.', 'With roots in Silicon Valley and many tech clients, Private Medical is also connected to biotech startups doing cutting-edge research and exploring new treatments.', 'Shlain said Private Medical conducts due diligence on four or five new companies a month to keep pace with fast-changing science and research.', 'When one patient was diagnosed with severe depression, Shlain worked with a new ""precision psychiatric"" group at Stanford that does an MRI of the brain and uses connectomes (a map of the neural connections in the brain) to determine which medication was best for treatment.', '""He got the right medication, and now he\'s better,"" Shlain said.', 'Private Medical also prides itself on its technology, developed with some of the top CEOs and entrepreneurs in Silicon Valley.', 'Its platform helps both doctors and patients easily access data, manage appointments and workflows.', 'Two big areas for his wealthy patients are longevity and sleep.', ""With longevity, Shlain said there's no magic bullet or diet or medication to roll back time, even for billionaires."", 'The real goal, he said is to ""enable you to live with your physical and mental faculties intact for as long as possible with the fewest high-quality interactions with the health-care system as possible.', '""""Your good outcome is our income,"" he said.', ""Sign up to receive future editions of CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.256889720637067,"The rise of family office-style medical practices – some of which are charging up to $60,000 a year for membership – reflects the surge in wealth among families worth $100 million or more and growing demand for hyper-personalized, data-driven health care from an aging class of billionaires and millionaires.","""Shlain declined to give specifics on price, but clients of Private Medical say it charges $40,000 a year for each adult patient and $25,000 per patient under the age of 18.",0.6652970016002655,"The market for concierge and personalized medical services for the wealthy is expected to grow by more than 50% by 2032, to nearly $11 billion a year, according to Precedence Research.","Shlain says insurance companies, overloaded doctors and inflated prices have turned the health-care system into what he calls a ""sick care system.""",2024-04-24
-Netflix forces Wall Street to focus on profit and revenue with decision to stop reporting subscriber numbers in 2025,https://www.cnbc.com/2024/04/18/netflix-earnings-what-subscriber-reporting-change-means.html,2024-04-18T22:29:05+0000,"The best way to get investors to stop focusing on something is to stop telling them at all.Netflix said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025.This is a significant change for the company and for the so-called ""streaming wars,"" which have largely been defined by a race for customers. Netflix wants investors to judge the company by the same metrics executives view as ""our best proxy for customer satisfaction,"" the company said in its quarterly shareholder letter.Namely: revenue, operating margin, free cash flow — and the amount of time spent on Netflix.It's also a signal Netflix's second wave of subscriber growth may be ending. The company announced it added 9.3 million subscribers in its first quarter as its global password-sharing crackdown and introduction of a less expensive advertising tier took hold. (The ad tier costs $6.99 per month in the U.S. as opposed to its $15.49 standard plan).Subscriber growth in the second quarter will be lower than in the first quarter due to ""seasonality,"" the company said in the letter. That may be the start of a longer period of slowing subscriber additions, as most freeloading password sharers are now paying customers.ARM, which Netflix defines as ""streaming revenue divided by the average number of streaming paid memberships divided by the number of months in the period,"" rose just 1% year over year in the quarter.Netflix shares fell 4% in after-hours trading, in part because of a weaker full-year revenue growth outlook than some analysts estimated. Netflix forecast revenue growth of 16% in the second quarter but just 13% to 15% for the full year.Investors typically don't like less transparency. It's particularly notable Netflix is cutting back on granular membership information, which the company used to pride itself on — including offering regional breakdowns that were more specific than all of its competitors. Apple and Amazon have never offered quarterly subscriber information for its streaming services.Still, forcing Wall Street to focus on revenue and profit, rather than user growth, is also evidence of Netflix's maturity as a company. For more than a decade, the streamer has been viewed as a disruptor to legacy media.Now, about five years into ""the streaming wars,"" Netflix is the dominant incumbent.""In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,"" Netflix said in its shareholder letter. ""But now we're generating very substantial profit and free cash flow (FCF). We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth.""""In addition, as we've evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,"" the company added.Netflix has the luxury of focusing on profit, revenue and free cash flow because the company's finances are far healthier than most legacy media companies. For example, year-over-year revenue climbed 15%.Operating income grew by 54%, and operating margin rose by 7 percentage points to 28%. These gains far outpace companies such as Warner Bros. Discovery, Disney, Paramount Global and Comcast's NBCUniversal, which have money-losing (or barely profitable) streaming services and declining traditional TV businesses.That calls into question whether other media companies will follow Netflix's lead and stop reporting subscriber numbers for their streaming services. Many of the legacy media companies haven't started their password-sharing crackdowns like Netflix. That may mean they have more growth to come, which investors would likely want to see.""We've evolved and we're going to continue to evolve,"" said Netflix co-CEO Greg Peters during the company's earnings call. ""It means that the historical math we used to do is increasingly less accurate"" in assessing the state of the business, he added.Disclosure: Comcast NBCUniversal is the parent company of CNBC.WATCH: Netflix's quarterly subs performance 'really impressive,' says Evercore's Mark Mahaney",CNBC,18/04/2024,"['The best way to get investors to stop focusing on something is to stop telling them at all.', 'Netflix said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025.This is a significant change for the company and for the so-called ""streaming wars,"" which have largely been defined by a race for customers.', 'Netflix wants investors to judge the company by the same metrics executives view as ""our best proxy for customer satisfaction,"" the company said in its quarterly shareholder letter.', 'Namely: revenue, operating margin, free cash flow — and the amount of time spent on Netflix.', ""It's also a signal Netflix's second wave of subscriber growth may be ending."", 'The company announced it added 9.3 million subscribers in its first quarter as its global password-sharing crackdown and introduction of a less expensive advertising tier took hold. (', 'The ad tier costs $6.99 per month in the U.S. as opposed to its $15.49 standard plan).Subscriber growth in the second quarter will be lower than in the first quarter due to ""seasonality,"" the company said in the letter.', 'That may be the start of a longer period of slowing subscriber additions, as most freeloading password sharers are now paying customers.', 'ARM, which Netflix defines as ""streaming revenue divided by the average number of streaming paid memberships divided by the number of months in the period,"" rose just 1% year over year in the quarter.', 'Netflix shares fell 4% in after-hours trading, in part because of a weaker full-year revenue growth outlook than some analysts estimated.', 'Netflix forecast revenue growth of 16% in the second quarter but just 13% to 15% for the full year.', ""Investors typically don't like less transparency."", ""It's particularly notable Netflix is cutting back on granular membership information, which the company used to pride itself on — including offering regional breakdowns that were more specific than all of its competitors."", 'Apple and Amazon have never offered quarterly subscriber information for its streaming services.', ""Still, forcing Wall Street to focus on revenue and profit, rather than user growth, is also evidence of Netflix's maturity as a company."", 'For more than a decade, the streamer has been viewed as a disruptor to legacy media.', 'Now, about five years into ""the streaming wars,"" Netflix is the dominant incumbent.', '""In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,"" Netflix said in its shareholder letter. ""', ""But now we're generating very substantial profit and free cash flow (FCF)."", 'We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth.', '""""In addition, as we\'ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,"" the company added.', ""Netflix has the luxury of focusing on profit, revenue and free cash flow because the company's finances are far healthier than most legacy media companies."", 'For example, year-over-year revenue climbed 15%.Operating income grew by 54%, and operating margin rose by 7 percentage points to 28%.', ""These gains far outpace companies such as Warner Bros. Discovery, Disney, Paramount Global and Comcast's NBCUniversal, which have money-losing (or barely profitable) streaming services and declining traditional TV businesses."", ""That calls into question whether other media companies will follow Netflix's lead and stop reporting subscriber numbers for their streaming services."", ""Many of the legacy media companies haven't started their password-sharing crackdowns like Netflix."", 'That may mean they have more growth to come, which investors would likely want to see.', '""We\'ve evolved and we\'re going to continue to evolve,"" said Netflix co-CEO Greg Peters during the company\'s earnings call. ""', 'It means that the historical math we used to do is increasingly less accurate"" in assessing the state of the business, he added.', ""Disclosure: Comcast NBCUniversal is the parent company of CNBC.WATCH: Netflix's quarterly subs performance 'really impressive,' says Evercore's Mark Mahaney""]",0.2570863710378828,But now we're generating very substantial profit and free cash flow (FCF).,"Netflix said Thursday it will no longer report quarterly membership numbers and average revenue per membership starting in the first quarter of 2025.This is a significant change for the company and for the so-called ""streaming wars,"" which have largely been defined by a race for customers.",0.3758318811655045,"For example, year-over-year revenue climbed 15%.Operating income grew by 54%, and operating margin rose by 7 percentage points to 28%.","Netflix shares fell 4% in after-hours trading, in part because of a weaker full-year revenue growth outlook than some analysts estimated.",2024-04-24
-Procter & Gamble sales disappoint as price hikes slow down,https://www.cnbc.com/2024/04/19/procter-gamble-pg-q3-2024-earnings.html,2024-04-19T14:08:07+0000,"Procter & Gamble on Friday reported mixed quarterly results as it struggles to bring back shoppers after two years of hiking prices across its portfolio, from Tide detergent to Charmin toilet paper.The company's prices were up 3% compared with the year-ago period, although CFO Andre Schulten said on a media call that P&G didn't institute any nationwide price hikes during the quarter.Despite its disappointing sales, the consumer giant raised its full-year outlook for earnings growth.Shares of the company fell more than 1% in morning trading.Here's what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:P&G reported fiscal third-quarter net income attributable to the company of $3.75 billion, or $1.52 per share, up from $3.4 billion, or $1.37 per share, a year earlier.Net sales rose 1% to $20.2 billion. Organic sales, which strip out acquisitions, divestitures and foreign currency, increased 3% in the quarter.But the company's quarterly volume was flat for the second consecutive quarter. In October, executives said they anticipated returning to volume growth in fiscal 2024. Three quarters in, the company hasn't yet lured back many of the customers it scared away with its price hikes over the last two years.However, three of P&G's divisions reported volume growth for the quarter. Its beauty segment, which includes Olay and Pantene, saw volume rise 1%, fueled by innovation in personal care. The company's grooming business, home to its Gillette and Venus razors, reported volume growth of 2%. And fabric and home care, which includes Febreze and Swiffer, saw 1% volume growth.But P&G's health care and baby, feminine and family care divisions saw volume drop further. The company blamed its higher prices and a weaker cold and flu season for the declines.Geography also played a role in the company's lackluster sales. China, the company's second-largest market, is still seeing softer demand for products like its pricey SK-II skin care. Schulten also said that some markets, particularly in the Middle East, have seen retailers pull back on promotions amid geopolitical tensions tied to the war in Gaza.""The impact is visible but limited, and we expect it to lessen, obviously, hopefully as these tensions ease over time,"" he said.In the U.S., P&G's largest market, the company's volume grew 3%. Schulten said the U.S. consumer isn't trading down or changing shopping behavior.""Consumers don't want to take a gamble when it comes to the type of performance ... they know ultimately the price for trading down,"" he said.For the full year, P&G is now expecting core net earnings per share growth of 10% to 11%, up from its prior range of 8% to 9%. The company also raised its projection for unadjusted earnings growth to a range of 1% to 2%, up from its previous forecast of down 1% to flat. P&G maintained its outlook of 2% to 4% sales growth in 2024.P&G also now expects a $900 million benefit from favorable commodity costs, up from its previous outlook of $800 million. That's a reversal from the last two fiscal years, when commodity costs weighed on the company, leading to price hikes.Correction: P&G's net sales rose 1% to $20.2 billion. An earlier version misstated a figure.",CNBC,19/04/2024,"['Procter & Gambleon Friday reported mixed quarterly results as it struggles to bring back shoppers after two years of hiking prices across its portfolio, from Tide detergent to Charmin toilet paper.', ""The company's prices were up 3% compared with the year-ago period, although CFO Andre Schulten said on a media call that P&G didn't institute any nationwide price hikes during the quarter."", 'Despite its disappointing sales, the consumer giant raised its full-year outlook for earnings growth.', 'Shares of the company fell more than 1% in morning trading.', ""Here's what P&G reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:P&G reported fiscal third-quarter net income attributable to the company of $3.75 billion, or $1.52 per share, up from $3.4 billion, or $1.37 per share, a year earlier."", 'Net salesrose 1% to $20.2 billion.', 'Organic sales, which strip out acquisitions, divestitures and foreign currency, increased 3% in the quarter.', ""But the company's quarterly volume was flat for the second consecutive quarter."", 'In October, executives said they anticipated returning to volume growth in fiscal 2024.', ""Three quarters in, the company hasn't yet lured back many of the customers it scared away with its price hikes over the last two years."", ""However, three of P&G's divisions reported volume growth for the quarter."", 'Its beauty segment, which includes Olay and Pantene, saw volume rise 1%, fueled by innovation in personal care.', ""The company's grooming business, home to its Gillette and Venus razors, reported volume growth of 2%."", 'And fabric and home care, which includes Febreze and Swiffer, saw 1% volume growth.', ""But P&G's health care and baby, feminine and family care divisions saw volume drop further."", 'The company blamed its higher prices and a weaker cold and flu season for the declines.', ""Geography also played a role in the company's lackluster sales."", ""China, the company's second-largest market, is still seeing softer demand for products like its pricey SK-II skin care."", 'Schulten also said that some markets, particularly in the Middle East, have seen retailers pull back on promotions amid geopolitical tensions tied to the war in Gaza.', '""The impact is visible but limited, and we expect it to lessen, obviously, hopefully as these tensions ease over time,"" he said.', ""In the U.S., P&G's largest market, the company's volume grew 3%."", ""Schulten said the U.S. consumer isn't trading down or changing shopping behavior."", '""Consumers don\'t want to take a gamble when it comes to the type of performance ... they know ultimately the price for trading down,"" he said.', 'For the full year, P&G is now expecting core net earnings per share growth of 10% to 11%, up from its prior range of 8% to 9%.', 'The company also raised its projection for unadjusted earnings growth to a range of 1% to 2%, up from its previous forecast of down 1% to flat.', 'P&G maintained its outlook of 2% to 4% sales growth in 2024.P&G also now expects a $900 million benefit from favorable commodity costs, up from its previous outlook of $800 million.', ""That's a reversal from the last two fiscal years, when commodity costs weighed on the company, leading to price hikes."", ""Correction: P&G's net salesrose 1% to $20.2 billion."", 'An earlier version misstated a figure.']",0.2040791072013871,"Its beauty segment, which includes Olay and Pantene, saw volume rise 1%, fueled by innovation in personal care.",The company blamed its higher prices and a weaker cold and flu season for the declines.,0.3764318136068491,"Organic sales, which strip out acquisitions, divestitures and foreign currency, increased 3% in the quarter.",But the company's quarterly volume was flat for the second consecutive quarter.,2024-04-24
-Starbucks resumes bargaining with union after two sides thaw relationship,https://www.cnbc.com/2024/04/24/starbucks-resumes-bargaining-with-workers-united-union.html,2024-04-24T16:49:44+0000,"In this articleStarbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.The two sides' return to the bargaining table follows their February announcement that they found a ""constructive path forward"" during mediation discussions related to litigation over the union's use of Starbucks' branding. It marked a major pivot for Starbucks, which had spent the previous two years battling Workers United and the broader movement to unionize its cafes.Roughly 500 company-owned Starbucks in the U.S. have voted to unionize under Workers United since the first elections in December 2021, according to a tally from the National Labor Relations Board, as of Monday. But none of those locations, which make up a small fraction of total U.S. footprint, have come close to a collective bargaining agreement.Starbucks and the union, which is affiliated with the Service Employees International Union, have previously met to bargain, but those talks quickly ended in stalemate. Both sides have accused the other of sabotaging the talks.Starbucks had previously insisted on face-to-face negotiations, with no representatives appearing via Zoom. The union has accused Starbucks of using that excuse as a stalling tactic. This time around, about 150 union representatives will appear in person to bargain, while several hundred more will weigh in remotely outside of the face-to-face meetings.Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents. Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith. After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations. The NLRB has 19 pending petitions to decertify. Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.The company said it has also been negotiating with other unions that represent its cafes, such as the International Brotherhood of Teamsters, which is bargaining for a store outside of Pittsburgh.The resumption of contract negotiations comes a day after another significant moment for both Starbucks and unions. On Tuesday, the company appeared before the Supreme Court to appeal a lower court's approval of an injunction sought by the NLRB to reinstate seven fired workers at a Memphis cafe.Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does. Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor. The court is expected to release its decision this summer.Starbucks could share more about the union negotiations during its quarterly earnings call. The coffee giant is expected to report its results on Tuesday.",CNBC,24/04/2024,"['In this articleStarbucks and the union that represents its baristas will resume contract negotiations on Wednesday, ending an extended stalemate.', 'The two sides\' return to the bargaining table follows their February announcement that they founda ""constructive path forward"" during mediation discussions related to litigation over the union\'s use of Starbucks\' branding.', 'It marked a major pivot for Starbucks, which had spent the previous two years battling Workers United and the broader movement to unionize its cafes.', 'Roughly 500 company-owned Starbucks in the U.S. have voted to unionize under Workers United since the first elections in December 2021, according to a tally from the National Labor Relations Board, as of Monday.', 'But none of those locations, which make up a small fraction of total U.S. footprint, have come close to a collective bargaining agreement.', 'Starbucks and the union, which is affiliated with the Service Employees International Union, have previously met to bargain, but those talks quickly ended in stalemate.', 'Both sides have accused the other of sabotaging the talks.', 'Starbucks had previously insisted on face-to-face negotiations, with no representatives appearing via Zoom.', 'The union has accused Starbucks of using that excuse as a stalling tactic.', 'This time around, about 150 union representatives will appear in person to bargain, while several hundred more will weigh in remotely outside of the face-to-face meetings.', 'Store agreements will be negotiated and ratified separately, but the union might make proposals that could affect all of the Starbucks workers it represents.', 'Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.', 'Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.', 'After a year, workers who lose faith in the union can petition to decertify, putting a ticking clock on negotiations.', 'The NLRB has 19 pending petitions to decertify.', 'Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.', 'The company said it has also been negotiating with other unions that represent its cafes, such as the International Brotherhood of Teamsters, which is bargaining for a store outside of Pittsburgh.', 'The resumption of contract negotiations comes a day after another significant moment for both Starbucks and unions.', ""On Tuesday, the company appeared before the Supreme Court to appeal a lower court's approval of an injunction sought by the NLRB to reinstate seven fired workers at a Memphis cafe."", 'Starbucks argued that other agencies seeking injunctions have a higher threshold to receive one than the labor board does.', ""Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor."", 'The court is expected to release its decision this summer.', 'Starbucks could share more about the union negotiations during its quarterly earnings call.', 'The coffee giant is expected to report its results on Tuesday.']",0.0722775234451613,"Labor laws do not require that the employer and union reach a collective bargaining agreement, only that both bargain in good faith.","Citing unfair labor practices by Starbucks, the labor board has denied 18 other petitions to decertify.",-0.1644300669431686,"Workers United has broadly pushed for higher wages and more consistent scheduling, among a range of other priorities.",Experts have said that the Supreme Court's eventual ruling could weaken the NLRB — and organized labor.,2024-04-24
-"PepsiCo earnings beat estimates but product recalls, weaker lower-income consumer hurt U.S. sales",https://www.cnbc.com/2024/04/23/pepsico-pep-q1-2024-earnings.html,2024-04-23T15:48:06+0000,"In this articlePepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts' expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks.Shares of the company fell more than 2% in morning trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier.Excluding items, Pepsi earned $1.61 per share.Net sales rose 2.3% to $18.25 billion. The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter.But the company's volume is still under pressure. Pepsi, along with many of its rivals, has seen its volume fall in response to higher prices for its Gatorade, Fritos and other products in its portfolio.The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume. The metric strips out pricing and currency changes to reflect demand.A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem. The company issued the first recall for potential salmonella contamination in December, then widened it in January. The North American Quaker Food division reported that its volume cratered 22% in the quarter. The Quaker Foods recall dented Pepsi's organic volume by roughly 1%.Pepsi will officially close a Quaker Oats plant tied to the recalls in June, although production there has already ceased. Pepsi said the company has resumed limited production of certain products affected by the recalls.Pepsi's other North American divisions also reported weaker volume. Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.Frito-Lay North America's effective net pricing was up 3% in the quarter, while Pepsi's domestic beverages unit's prices rose 6%.In the U.S., lower-income consumers are still trying to stretch their paychecks, Pepsi CEO Ramon Laguarta told analysts on the company's conference call. Pepsi is trying to target the demographic and keep them as customers, particularly for its snacks like Cheetos.Outside of the U.S., demand was stronger. Its Asia-Pacific, Australia, New Zealand and China region reported 12% volume growth for snacks. Chinese consumers are cautious and saving more money, but they're still buying more Pepsi products, according to Laguarta. Even in Europe, which has also struggled with higher grocery prices, beverage volume increased 7% and snack volume rose 2%.Pepsi also reiterated its 2024 outlook. For the full year, the company is expecting organic revenue will rise at least 4% and core constant currency earnings per share will climb at least 8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. ""We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases.""",CNBC,23/04/2024,"[""In this articlePepsiCo on Tuesday reported quarterlyearningsand revenue that beat analysts' expectations, despite weaker U.S. demand caused by Quaker Oats recalls and backlash to higher prices for its drinks and snacks."", 'Shares of the company fell more than 2% in morning trading.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier."", 'Excluding items, Pepsi earned $1.61 per share.', 'Net salesrose2.3% to $18.25 billion.', ""The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter."", ""But the company's volume is still under pressure."", 'Pepsi, along with many of its rivals, has seen its volume fall in response to higher prices for its Gatorade, Fritos and other products in its portfolio.', ""The company's food division saw its volume decrease 0.5%, while its beverage segment reported flat volume."", 'The metric strips out pricing and currency changes to reflect demand.', ""A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem."", 'The company issued the first recall for potential salmonella contamination in December, then widened it in January.', 'The North American Quaker Food division reported that its volume cratered 22% in the quarter.', ""The Quaker Foods recall dented Pepsi's organic volume by roughly 1%.Pepsi will officially close a Quaker Oats plant tied to the recalls in June, although production there has already ceased."", 'Pepsi said the company has resumed limited production of certain products affected by the recalls.', ""Pepsi's other North American divisions also reported weaker volume."", 'Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.', ""Frito-Lay North America's effective net pricing was up 3% in the quarter, while Pepsi's domestic beverages unit's prices rose 6%.In the U.S., lower-income consumers are still trying to stretch their paychecks, Pepsi CEO Ramon Laguarta told analysts on the company's conference call."", 'Pepsi is trying to target the demographic and keep them as customers, particularly for its snacks like Cheetos.', 'Outside of the U.S., demand was stronger.', 'Its Asia-Pacific, Australia, New Zealand and China region reported 12% volume growth for snacks.', ""Chinese consumers are cautious and saving more money, but they're still buying more Pepsi products, according to Laguarta."", 'Even in Europe, which has also struggled with higher grocery prices, beverage volume increased 7% and snack volume rose 2%.Pepsi also reiterated its 2024 outlook.', 'For the full year, the company is expecting organic revenuewill riseat least 4% and core constant currency earnings per sharewill climb at least8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. ""', 'We also continue to expect that consumers will remain watchful with their budgets and choiceful with their purchases.""']",0.0676508517705506,"For the full year, the company is expecting organic revenuewill riseat least 4% and core constant currency earnings per sharewill climb at least8%.""As we look ahead, we continue to expect a normalization and moderation in category growth rates versus the last few years,"" Pepsi executives said in prepared remarks. """,A recall of many Quaker Foods cereals and bars only worsened Pepsi's volume problem.,0.0850448608398437,"The company's organic revenue, which excludes acquisitions, divestitures and foreign exchange, increased 2.7% in the quarter.","Volume in its beverage unit fell 5% in the quarter, while Frito-Lay North America reported a 2% decline in its volume.",2024-04-24
-Disney technology executive Aaron LaBerge to leave company for personal reasons,https://www.cnbc.com/2024/04/22/disney-cto-aaron-laberge-to-leave-company-for-personal-reasons.html,2024-04-22T18:03:15+0000,"Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo.LaBerge is taking a job as CTO of PENN Entertainment, which operates ESPN Bet, the sports media company's licensed online sportsbook. He'll be responsible for driving technology strategy as a top executive in the company's interactive division. LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said.LaBerge has been a key figure in developing Disney's streaming services and, more recently, integrating advertising into Disney+. He's also led efforts to unify Hulu and Disney+ within one streaming application, which debuted last month.At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. Discovery and Fox, and ESPN's flagship streaming service that will launch in 2025.His departure adds to a growing list of veteran Disney executives who have left the company in recent years. They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.""We want to thank Aaron for the contributions he has made and the leadership he has provided at Disney over his 20 years,"" said ESPN Chairman Jimmy Pitaro and Disney Entertainment co-Chairmen Dana Walden and Alan Bergman in an internal note to employees. ""It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be a key partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.""A search for LaBerge's successor is already underway, according to a person familiar with the matter, who asked to remain anonymous because the transition plan is private. Chris Lawson, currently Disney's executive vice president of content operations and one of LaBerge's direct reports, will take over LaBerge's job on an interim basis when he departs.LaBerge first joined Disney in the late 1990s as part of the company's takeover of Starwave, a Paul Allen-founded company that partnered with ESPN before Disney fully acquired it it in 1998.WATCH: Three stock lunch: Alphabet, Disney and Salesforce",CNBC,22/04/2024,"['Aaron LaBerge, the chief technology officer for Disney Entertainment and ESPN, is leaving the company, according to an internal memo.', ""LaBerge is taking a job as CTO of PENN Entertainment, which operates ESPN Bet, the sports media company's licensed online sportsbook."", ""He'll be responsible for driving technology strategy as a top executive in the company's interactive division."", 'LaBerge is leaving for personal reasons related to his family and will stay on at Disney until June, the memo said.', ""LaBerge has been a key figure in developing Disney's streaming services and, more recently, integrating advertising into Disney+."", ""He's also led efforts to unify Hulu and Disney+ within one streaming application, which debuted last month."", ""At ESPN, LaBerge has been a central figure behind the company's streaming services, including ESPN+, the upcoming sports streaming application co-owned by Disney, Warner Bros. Discovery and Fox, and ESPN's flagship streaming service that will launch in 2025.His departure adds to a growing list of veteran Disney executives who have left the company in recent years."", 'They include former CEO Bob Chapek, former head of streaming Kevin Mayer, ex-finance chief Christine McCarthy, former Walt Disney Studios Chairman Alan Horn, former Disney general counsel Alan Braverman, ex-head of communications Zenia Mucha, and former president of Walt Disney Pictures, Sean Bailey.', '""We wantto thank Aaron for the contributions he has made and the leadership he has provided at Disney over his 20 years,"" said ESPN Chairman Jimmy Pitaro and Disney Entertainment co-Chairmen Dana Walden and Alan Bergman in an internal note to employees. ""', 'It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.', '""A search for LaBerge\'s successor is already underway, according to a person familiar with the matter, who asked to remain anonymous because the transition plan is private.', ""Chris Lawson, currently Disney's executive vice president of content operations and one of LaBerge's direct reports, will take over LaBerge's job on an interim basis when he departs."", ""LaBerge first joined Disney in the late 1990s as part of the company's takeover of Starwave, a Paul Allen-founded company that partnered with ESPN before Disney fully acquired it it in 1998.WATCH: Three stock lunch: Alphabet, Disney and Salesforce""]",0.2673360788282376,"It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.",,0.9995514750480652,"It is a silver lining that he will continue to help Disney and ESPN win, as he transitions to a role at PENN Entertainment — where he will be akey partner in the continued growth and success of ESPN BET (and the rest of their Interactive business).""According to his biography, LaBerge has been responsible for ""helping set the vision and strategic leadership for how the Company uses technology to enable storytelling and innovation, drive its business, and create amazing consumer experiences with entertainment and sports content.",,2024-04-24
-Oil and gold prices ease as Iran downplays attack,https://www.bbc.co.uk/news/articles/c2vwl91qe6do,2024-04-19T03:41:52.149Z,"Oil and gold prices have eased after Iranian authorities appeared to downplay reports of an attack from Israel. Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack. Gold briefly came close to a record high before settling below $2,400 an ounce. There are concerns a worsening conflict in the Middle East could disrupt oil supplies. Investors have been closely watching Israel’s reaction to Iran's direct drone and missile attack last weekend. Oil prices had jumped by as much as 3.5% initially. But Brent then fell back to roughly $87 a barrel after Iranian state media claimed that there was ""no damage"" in Isfahan province where there had been reports of explosions.  Sharp and sustained rises in oil prices risk fuelling inflation. Countries are heavily reliant on the commodity, which is used to produce fuels such as petrol and diesel. Fuel and energy prices have been a major driver behind the higher cost of living worldwide in the past couple of years. Randeep Somel, fund manager at M&G Investment Management, told the BBC's Today programme: ""The concern for markets would mainly be the inflationary one, that this would actually add to inflation."" While the pace of inflation has been slowing, in the UK it is still above the Bank of England's 2% target and some economists have forecast that a cut to interest rates may not happen until summer or later on in the year.   ""In the UK, the inflation rates is still around 3.2% - still someway off the target – and it is becoming a bit of a concern for policy makers,"" said Mr Somel. ""It is good to see that this hasn’t escalated any further and that hopefully the disruption to markets is short-lived.” The price of Brent is far below the heights reached after Russia invaded Ukraine in February 2022 when a number of major economies imposed sanctions on the oil-producing nation. Oil hit $125 a barrel in the weeks that followed, leading to a sustained period of higher household energy bills. The gold price often rises at times of uncertainty as it is seen as a safe investment. The heightened tension in the Middle East has led to concerns about whether shipping through the Strait of Hormuz between Oman and Iran will be affected. It is a crucial shipping route, as about 20% of the world's total oil supply passes through it. Members of the oil producers' cartel Opec - Saudi Arabia, Iran, the UAE, Kuwait and Iraq - send most of the oil they export through the strait. Iran is the seventh largest oil producer in the world, according to the US Energy Information Administration, and the third-largest member of Opec. The initial spike in oil prices was ""a knee-jerk reaction to fears of a renewed escalation of warfare between Israel and Iran,"" said energy market expert Vandana Hari of Vanda Insights. ""What the latest events underscore is the heightened fragility and volatility in the Mid East situation,"" she added. Stock markets were mixed as investors reacted to the latest events.  In the US, the Dow Jones Industrial Average was roughly 0.5% higher in mid-day trade, while the S&P 500 fell 0.5% and the Nasdaq was down 1.3%. In the UK, the FTSE 100 share index closed 0.2% higher while the FTSE 250 ended down 0.3%. In Asia, Japan's Nikkei 225 index fell 2.7%, while Hong Kong's Hang Seng dropped 0.9%.   ",BBC,19/04/2024,"['Oil and gold prices have eased after Iranian authorities appeared to downplay reports of an attack from Israel.', 'Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack.', 'Gold briefly came close to a record high before settling below $2,400 an ounce.', 'There are concerns a worsening conflict in the Middle East could disrupt oil supplies.', ""Investors have been closely watching Israel’s reaction to Iran's direct drone and missile attack last weekend."", 'Oil prices had jumped by as much as 3.5% initially.', 'But Brent then fell back to roughly $87 a barrel after Iranian state media claimed that there was ""no damage"" in Isfahan province where there had been reports of explosions.', 'Sharp and sustained rises in oil prices risk fuelling inflation.', 'Countries are heavily reliant on the commodity, which is used to produce fuels such as petrol and diesel.', 'Fuel and energy prices have been a major driver behind the higher cost of living worldwide in the past couple of years.', 'Randeep Somel, fund manager at M&G Investment Management, told the BBC\'s Today programme: ""The concern for markets would mainly be the inflationary one, that this would actually add to inflation.""', 'While the pace of inflation has been slowing, in the UK it is still above the Bank of England\'s 2% target and some economists have forecast that a cut to interest rates may not happen until summer or later on in the year. ""', 'In the UK, the inflation rates is still around 3.2% - still someway off the target – and it is becoming a bit of a concern for policy makers,"" said Mr Somel. ""', 'It is good to see that this hasn’t escalated any further and that hopefully the disruption to markets is short-lived.”', 'The price of Brent is far below the heights reached after Russia invaded Ukraine in February 2022 when a number of major economies imposed sanctions on the oil-producing nation.', 'Oil hit $125 a barrel in the weeks that followed, leading to a sustained period of higher household energy bills.', 'The gold price often rises at times of uncertainty as it is seen as a safe investment.', 'The heightened tension in the Middle East has led to concerns about whether shipping through the Strait of Hormuz between Oman and Iran will be affected.', ""It is a crucial shipping route, as about 20% of the world's total oil supply passes through it."", ""Members of the oil producers' cartel Opec - Saudi Arabia, Iran, the UAE, Kuwait and Iraq - send most of the oil they export through the strait."", 'Iran is the seventh largest oil producer in the world, according to the US Energy Information Administration, and the third-largest member of Opec.', 'The initial spike in oil prices was ""a knee-jerk reaction to fears of a renewed escalation of warfare between Israel and Iran,"" said energy market expert Vandana Hari of Vanda Insights. ""', 'What the latest events underscore is the heightened fragility and volatility in the Mid East situation,"" she added.', 'Stock markets were mixed as investors reacted to the latest events.', 'In the US, the Dow Jones Industrial Average was roughly 0.5% higher in mid-day trade, while the S&P 500 fell 0.5% and the Nasdaq was down 1.3%.', 'In the UK, the FTSE 100 share index closed 0.2% higher while the FTSE 250 ended down 0.3%.', ""In Asia, Japan's Nikkei 225 index fell 2.7%, while Hong Kong's Hang Seng dropped 0.9%.""]",-0.0808273015102537,It is good to see that this hasn’t escalated any further and that hopefully the disruption to markets is short-lived.”,"But Brent then fell back to roughly $87 a barrel after Iranian state media claimed that there was ""no damage"" in Isfahan province where there had been reports of explosions.",-0.5883180839674813,Oil prices had jumped by as much as 3.5% initially.,"Brent crude, the international benchmark, fell after jumping briefly to over $90 a barrel after reports emerged of an attack.",2024-04-24
-The challenge of upgrading iconic steel windows,https://www.bbc.co.uk/news/business-68777865,2024-04-15T23:11:05.000Z,"Every winter, architect Kevin Adams would perform his early morning ritual of devotion. Cloth in hand, he'd head to the stylish Crittall windows in the East London flat where he once lived - because these windows, though stylish, were also sopping wet. ""You'd know to expect it - you wipe it down, you open the window as soon as you can, you don't let it puddle or rot the sills,"" he says of the moisture that used to form on the single-glazing and thin steel frames of his windows when the weather was cold. ""I put up with it because I loved them. We do all kinds of things for love, don't we?"" Not everyone who has lived with vintage steel-framed windows feels so affectionate towards them, however. Crittall Windows became synonymous both with modernism - and condensation, which can lead to serious problems such as mould, says Mr Adams, a teaching fellow at the Edinburgh College of Art.  While many consider such windows iconic and a key part of British architectural heritage, given today's high energy prices and rising awareness around the dangers of mould, efficient windows have become essential. Crittall, like all other companies in the glazing industry, has had to stay relevant to survive. The firm, now based in Witham, Essex, has been manufacturing steel-framed windows since the 1880s. The frames Crittall developed could be mass produced, then simply cut and welded to fit an array of standard window sizes. The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. ""Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains. Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through. Workers appreciated this - but so did the wealthy, who wanted light, airy homes. A large, art deco country house built by Walter Crittall in the 1930s was listed for sale last year at £1.65m.  On the Crittall factory floor today, there is a machine that dates to the 1920s. It is still used occasionally for gently bending steel frame sections into curved pieces, says managing director Russell Ager: ""It's an incredible piece of kit."" But the company has moved on in many other ways, he stresses, and nearby machines in the building are now state-of-the-art. ""We've done so much work to improve the thermal performance of the products,"" adds Mr Ager. Today you can get double and even triple-glazed Crittall windows. And crucially, the steel frames are now made with a thermal break, a glass fibre section of insulation within the frame that prevents heat escaping through its structure. The lack of a thermal break is what made the older frames so prone to becoming cold when the weather outside was chilly. Cold glass and steel encourage moisture in the indoor air to condense. The latest Crittall windows can achieve a U-value - a measure of their insulating performance - as low as 0.8, which is better than standard double-glazed windows. They are heftier than the vintage versions but Crittall has retained the classic look of relatively skinny metal frames and rectangular or square panes of glass. TikTok and Instagram accounts focusing on home décor often feature windows such as this, though Crittall has many competitors now that make similar-looking products, admits Mr Ager. According to Mr Adams, in the post-war era, there weren't many other firms operating in the same market as Crittall in the UK. But that has changed. Many companies, including KJM Group and Velfac offer aluminium alternatives. And there are other steel window makers out there, too, such as Fabco. ""Most consumers… buy our product because they love the look of it,"" says Mr Ager. Business, at the moment, is good. During the early stage of the Covid-19 pandemic, Crittall's sales to residential customers seeking to improve their properties spiked by 30%. And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager. More technology of business Dated heritage installations reaching the end of their life present another opportunity. Crittall recently replaced 100-year-old windows that the firm had made for a building in Central London with new, energy efficient versions of the same products. This kind of upgrade is not accessible to all, however, because of the relatively high cost of contemporary glazing, notes Claire Bennie, director of Municipal, a housing design and development consultancy. ""Every year we have a chat about it at our AGM and everyone is afraid of taking the plunge,"" she says, referring to residents' meetings at the block of 1930s flats in London where she lives. The old Crittall windows in the property give the building ""elegance"", says Ms Bennie but also makes them ""freezing"". Her own flat's windows are not prone to condensation - but only because they are so draughty that they stay well-ventilated, she explains.  It will be increasingly difficult to justify the installation of new metal-framed windows in the future because of the embodied carbon in materials such as steel, says Ms Bennie. To reduce emissions and tackle climate change, sustainable timber building products ought to become more and more prominent, she argues. Mr Ager says Crittall windows are made with 100% recycled steel and the company is working to make its products and operations as sustainable as possible. Other challenges facing the company in the coming years, include the possibility that building regulations in England will change, so as to demand extremely energy efficient windows in new build properties. Stricter standards could mean a need to make the frames thicker still and even better insulated, says Mr Ager: ""The frames would almost become unrecognisable. It would be a big issue for anybody that makes a metal frame."" Sustainability is paramount, stresses Ms Bennie, but she does say the ergonomic design of Crittall windows is hard to beat. The windows are often easy to open into a position where you can reach outside and clean them yourself, for instance. And the classic balcony doors made by the firm fold back neatly so as not to take up precious space outside. ""I wish modern window manufacturers would take a lesson from Crittall,"" she says, ""In how to make windows liveable and a pleasure to use.""  ",BBC,15/04/2024,"['Every winter, architect Kevin Adams would perform his early morning ritual of devotion.', 'Cloth in hand, he\'d head to the stylish Crittall windows in the East London flat where he once lived - because these windows, though stylish, were also sopping wet. ""', 'You\'d know to expect it - you wipe it down, you open the window as soon as you can, you don\'t let it puddle or rot the sills,"" he says of the moisture that used to form on the single-glazing and thin steel frames of his windows when the weather was cold. ""', 'I put up with it because I loved them.', 'We do all kinds of things for love, don\'t we?""', 'Not everyone who has lived with vintage steel-framed windows feels so affectionate towards them, however.', 'Crittall Windows became synonymous both with modernism - and condensation, which can lead to serious problems such as mould, says Mr Adams, a teaching fellow at the Edinburgh College of Art.', ""While many consider such windows iconic and a key part of British architectural heritage, given today's high energy prices and rising awareness around the dangers of mould, efficient windows have become essential."", 'Crittall, like all other companies in the glazing industry, has had to stay relevant to survive.', 'The firm, now based in Witham, Essex, has been manufacturing steel-framed windows since the 1880s.', 'The frames Crittall developed could be mass produced, then simply cut and welded to fit an array of standard window sizes.', 'The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. ""', 'Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains.', 'Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through.', 'Workers appreciated this - but so did the wealthy, who wanted light, airy homes.', 'A large, art deco country house built by Walter Crittall in the 1930s was listed for sale last year at £1.65m. On the Crittall factory floor today, there is a machine that dates to the 1920s.', 'It is still used occasionally for gently bending steel frame sections into curved pieces, says managing director Russell Ager: ""It\'s an incredible piece of kit.""', 'But the company has moved on in many other ways, he stresses, and nearby machines in the building are now state-of-the-art. ""', 'We\'ve done so much work to improve the thermal performance of the products,"" adds Mr Ager.', 'Today you can get double and even triple-glazed Crittall windows.', 'And crucially, the steel frames are now made with a thermal break, a glass fibre section of insulation within the frame that prevents heat escaping through its structure.', 'The lack of a thermal break is what made the older frames so prone to becoming cold when the weather outside was chilly.', 'Cold glass and steel encourage moisture in the indoor air to condense.', 'The latest Crittall windows can achieve a U-value - a measure of their insulating performance - as low as 0.8, which is better than standard double-glazed windows.', 'They are heftier than the vintage versions but Crittall has retained the classic look of relatively skinny metal frames and rectangular or square panes of glass.', 'TikTok and Instagram accounts focusing on home décor often feature windows such as this, though Crittall has many competitors now that make similar-looking products, admits Mr Ager.', ""According to Mr Adams, in the post-war era, there weren't many other firms operating in the same market as Crittall in the UK."", 'But that has changed.', 'Many companies, including KJM Group and Velfac offer aluminium alternatives.', 'And there are other steel window makers out there, too, such as Fabco. ""', 'Most consumers… buy our product because they love the look of it,"" says Mr Ager.', 'Business, at the moment, is good.', ""During the early stage of the Covid-19 pandemic, Crittall's sales to residential customers seeking to improve their properties spiked by 30%."", ""And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager."", 'More technology of business Dated heritage installations reaching the end of their life present another opportunity.', 'Crittall recently replaced 100-year-old windows that the firm had made for a building in Central London with new, energy efficient versions of the same products.', 'This kind of upgrade is not accessible to all, however, because of the relatively high cost of contemporary glazing, notes Claire Bennie, director of Municipal, a housing design and development consultancy. ""', 'Every year we have a chat about it at our AGM and everyone is afraid of taking the plunge,"" she says, referring to residents\' meetings at the block of 1930s flats in London where she lives.', 'The old Crittall windows in the property give the building ""elegance"", says Ms Bennie but also makes them ""freezing"".', ""Her own flat's windows are not prone to condensation - but only because they are so draughty that they stay well-ventilated, she explains."", 'It will be increasingly difficult to justify the installation of new metal-framed windows in the future because of the embodied carbon in materials such as steel, says Ms Bennie.', 'To reduce emissions and tackle climate change, sustainable timber building products ought to become more and more prominent, she argues.', 'Mr Ager says Crittall windows are made with 100% recycled steel and the company is working to make its products and operations as sustainable as possible.', 'Other challenges facing the company in the coming years, include the possibility that building regulations in England will change, so as to demand extremely energy efficient windows in new build properties.', 'Stricter standards could mean a need to make the frames thicker still and even better insulated, says Mr Ager: ""The frames would almost become unrecognisable.', 'It would be a big issue for anybody that makes a metal frame.""', 'Sustainability is paramount, stresses Ms Bennie, but she does say the ergonomic design of Crittall windows is hard to beat.', 'The windows are often easy to open into a position where you can reach outside and clean them yourself, for instance.', 'And the classic balcony doors made by the firm fold back neatly so as not to take up precious space outside. ""', 'I wish modern window manufacturers would take a lesson from Crittall,"" she says, ""In how to make windows liveable and a pleasure to use.""']",0.2012343859627007,"Factories and warehouses often benefitted from metal-framed windows - lightweight but strong steel meant the frames could be extra thin, allowing more room for glass, which let natural light flood through.","The style was popular in both commercial and residential buildings during the 1920s and 1930s but also after World War Two, says Adams. """,0.3039323623691286,"And while this was then followed by a decrease, currently the firm's orders in 2024 are up 20% on last year already, says Mr Ager.","Perfect for a post-war economy that was mass building without much money and with a shortage of materials,"" he explains.",2024-04-24
-Australian PM calls Elon Musk an 'arrogant billionaire' in row over attack footage,https://www.bbc.co.uk/news/world-australia-68878967,2024-04-23T03:42:53.000Z,"Australia's leader has called Elon Musk an ""arrogant billionaire"" in an escalating feud over X's reluctance to remove footage of a church stabbing. On Monday, an Australian court ordered Mr Musk's social media firm - formerly called Twitter - to hide videos of last week's attack in Sydney.  X previously said it would comply ""pending a legal challenge"". Prime Minister Anthony Albanese's criticism followed Mr Musk using a meme to accuse his government of censorship.  On Tuesday, Mr Albanese told ABC News that Mr Musk ""thinks he's above the law but also above common decency"". Last week Australia's eSafety Commissioner, an independent regulator, threatened X and other social media companies with hefty fines if they did not remove videos of the stabbing at the Assyrian Christ the Good Shepherd church, which police have called a terror attack. X agreed to geo-block the videos in Australia but has argued against restricting access for its global users.  ""I find it extraordinary that X chose not to comply and are trying to argue their case,"" Mr Albanese told a press briefing.  In a subsequent series of online posts, Mr Musk wrote: ""I'd like to take a moment to thank the PM for informing the public that this platform is the only truthful one."" Another depicted a Wizard of Oz-style path to ""freedom"" leading to an X logo.  Earlier, he also criticised eSafety Commissioner Julie Inman Grant personally, describing her as the ""Australian censorship commissar"".  Mr Albanese defended Ms Inman Grant, saying she was protecting Australians. ""Social media needs to have social responsibility with it. Mr Musk is not showing any,"" he said.  The platform will have 24 hours to comply with Monday evening's injunction, with a further hearing into the matter expected in the coming days.  X and the eSafety Commissioner are already involved in legal proceedings over the platform's alleged failure to provide information over how it tracks and removes child abuse material online.  ",BBC,23/04/2024,"['Australia\'s leader has called Elon Musk an ""arrogant billionaire"" in an escalating feud over X\'s reluctance to remove footage of a church stabbing.', ""On Monday, an Australian court ordered Mr Musk's social media firm - formerly called Twitter - to hide videos of last week's attack in Sydney."", 'X previously said it would comply ""pending a legal challenge"".', ""Prime Minister Anthony Albanese's criticism followed Mr Musk using a meme to accuse his government of censorship."", 'On Tuesday, Mr Albanese told ABC News that Mr Musk ""thinks he\'s above the law but also above common decency"".', ""Last week Australia's eSafety Commissioner, an independent regulator, threatened X and other social media companies with hefty fines if they did not remove videos of the stabbing at the Assyrian Christ the Good Shepherd church, which police have called a terror attack."", 'X agreed to geo-block the videos in Australia but has argued against restricting access for its global users. ""', 'I find it extraordinary that X chose not to comply and are trying to argue their case,"" Mr Albanese told a press briefing.', 'In a subsequent series of online posts, Mr Musk wrote: ""I\'d like to take a moment to thank the PM for informing the public that this platform is the only truthful one.""', 'Another depicted a Wizard of Oz-style path to ""freedom"" leading to an X logo.', 'Earlier, he also criticised eSafety Commissioner Julie Inman Grant personally, describing her as the ""Australian censorship commissar"".', 'Mr Albanese defended Ms Inman Grant, saying she was protecting Australians. ""', 'Social media needs to have social responsibility with it.', 'Mr Musk is not showing any,"" he said.', ""The platform will have 24 hours to comply with Monday evening's injunction, with a further hearing into the matter expected in the coming days."", ""X and the eSafety Commissioner are already involved in legal proceedings over the platform's alleged failure to provide information over how it tracks and removes child abuse material online.""]",-0.1686113864252902,"In a subsequent series of online posts, Mr Musk wrote: ""I'd like to take a moment to thank the PM for informing the public that this platform is the only truthful one.""","X agreed to geo-block the videos in Australia but has argued against restricting access for its global users. """,-0.9855695366859436,,"Last week Australia's eSafety Commissioner, an independent regulator, threatened X and other social media companies with hefty fines if they did not remove videos of the stabbing at the Assyrian Christ the Good Shepherd church, which police have called a terror attack.",2024-04-24
-A brutal elimination round is reshaping the world’s biggest market for electric cars,https://edition.cnn.com/2024/04/24/business/china-ev-industry-competition-analysis-intl-hnk/index.html,"
-  Published
-        11:05 PM EDT, Wed April 24, 2024
-    ","A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV).
-    
-            Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to become global players. BYD, for example, is now vying with Tesla for leadership of the battery electric vehicle market.
-    
-            But all of the country’s more than 200 EV manufacturers are now grappling with huge oversupply, and experts predict many smaller companies will not survive the fiercely-competitive environment.
-    
-            From a brutal price war to slowing sales in a weakening economy, the challenges unfolding in China have also forced some global automakers to retreat. And, it doesn’t help that the enthusiasm for EVs is waning in other markets around the world.
-    
-            “China’s EV industry is only going to go from strength to strength as a whole, but not every player today will see the finish line,” said Mark Rainford, an automotive industry commentator based in Shanghai who hosts the YouTube channel “Inside China Auto.”
-    
-            Even Chinese officials have said that carmakers will need a cast iron stomach to pull through the next few months.
-    
-            “Competition in the new energy vehicle (NEV) industry will be extremely fierce in 2024,” the National Development and Reform Commission (NDRC), the country’s top economic planner, said on Monday.
-    
-            More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association. These include once-popular EV brands, such as WM Motor, Byton, Aiways, and Levdeo.
-    
-            Some global automakers have also had to restructure their businesses or shut down operations. In October, Mitsubishi Motors announced it would end production of its cars at its joint venture in China. Honda (HMC), Hyundai and Ford (F) have also taken steps, including layoffs and factory sales, to cut costs, according to stock exchange filings and state media reports.
-    
-            By 2030, China could have fewer than five major EV players, Richard Yu, CEO of Huawei’s consumer business division, predicted last June. Huawei has formed partnerships with several automakers to produce EVs.
-    
-            So what makes the industry so difficult for both local and foreign players, and what’s ahead for EV makers in the world’s second largest economy?
-    
-            Aggressive price cuts are a major headache.
-    
-            The price war kicked off in October 2022, when Tesla (TSLA) slashed prices for its Model 3 and Model Y cars in China by as much as 9%. Three months later, it discounted its cars again, triggering a wave of price cuts that engulfed the country’s auto industry in 2023, including gasoline car producers.
-    
-            The pressure just became even more intense.
-    
-            Just this week, Tesla once again cut the starting prices of four models sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932). Xpeng and Li Auto, China’s fastest growing car brands, immediately followed suit, offering steep discounts or tens of millions of dollars in subsidies to attract buyers.
-    
-            “The price war is likely to rage on further into this year, though it’s hard to imagine prices can come down much further than they already have,” said Rainford.
-    
-            The deals available to Chinese car buyers are now very attractive, but some brands will not be able to sustain these discounts forever, he said.
-    
-            “They’re going to need deep pockets and smart marketing to take enough business,” he added.
-    
-            The price cuts have squeezed profitability. In 2023, the average profit margin for China’s auto industry slid to 5%, the lowest level in at least a decade, according to data from the China Association of Auto Manufacturers (CAAM).
-    
-            Overcrowding is another major issue plaguing China’s EV industry.
-    
-            The NDRC expects more than 110 new NEV models to be launched this year, adding to a flood of EVs hitting the market.
-    
-            For 2024, BYD, Huawei’s Aito and Li Auto alone are planning to increase deliveries by 2.3 million vehicles, the NDRC said. But the total market demand is forecast to increase by only 2.1 million cars.
-    
-            “The market will be in a state of oversupply for a long time,” it added.
-    
-            And now, more companies are joining the overcrowded field.
-    
-            Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan. CEO Lei Jun said he wants to take on Tesla and Porsche with the new premium car that comes with a starting price of just 215,900 yuan ($29,794).
-    
-            Last November, Meizu, another smartphone maker, announced it would partner with Geely Auto and launch its first EV, Meizu DreamCar MX, in 2024.
-    
-            The same month, Huawei launched its first electric sedan, the Luxeed S7, co-developed with Chery Auto with a view to taking on Tesla’s Model S.
-    
-            The CAAM has forecast the country’s total passenger cars sales will be around 26.8 million vehicles for 2024. But the combined sales targets by major manufacturers have so far reached nearly 30 million units.
-    
-            That oversupply means companies need to speed up sales, including by boosting exports — at the risk of raising tensions with key trading partners. Failure to do so may cause cash flow problems and plunge the manufacturers into crisis.
-    
-            And the battle may get harder for foreign players. 
-    
-            Tesla was briefly dethroned by BYD as the world’s bestselling EV brand in the fourth quarter of last year. BYD’s entry-level model sells in China for the equivalent of just below $10,000. In contrast, Tesla’s Model 3, its cheapest model, currently costs at least 231,900 yuan ($32,002) after the latest price cut.
-    
-            “The quality of the products now, combined with the unparalleled levels of automation and innovation going into Chinese cars, means it’s the traditional foreign players who will be feeling the pressure rising as more Chinese brands display their wares in international markets,” Rainford said.
-    
-            As competition becomes more intense, many carmakers will perish in the coming months, according to China’s EV company CEOs.
-    
-            “Entering 2024, the knockout round of China’s auto industry will begin in an all-round way, and the industry will enter a period of consolidation, with a complete reshuffle,” said Gan Jiayue, chief executive officer of Geely Auto, at the company’s earnings conference in March.
-    
-            Wang Chuanfu, chairman of BYD, also predicted in March that a “brutal elimination round” is coming.
-    
-            “China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing. “Companies must form economies of scale and brand advantages as soon as possible.”
-    
-            Further consolidation of the industry means more small-to-medium-sized companies could be wiped out, industry insiders predict.
-    
-            According to Yin Tongyue, chairman of Chery Auto, EV makers are entering a “life and death race.” He added last month that his company would roll out 39 new pure electric and hybrid models in 2024 and 2025 to gain a top position in the EV market.
-    
-            But for those that survive, the future isn’t entirely bleak.
-    
-            In 2024, the market share of electric cars could reach up to 45% in China, underpinned by competition among manufacturers, falling battery and car prices and ongoing policy support, according to the International Energy Agency.",CNN,24/04/2024,"['A “life and death race” has begun to unfold in the world’s largest market for electric vehicles (EV).', 'Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to become global players.', 'BYD, for example, is now vying with Tesla for leadership of the battery electric vehicle market.', 'But all of the country’s more than 200 EV manufacturers are now grappling with huge oversupply, and experts predict many smaller companies will not survive the fiercely-competitive environment.', 'From a brutal price war to slowing sales in a weakening economy, the challenges unfolding in China have also forced some global automakers to retreat.', 'And, it doesn’t help that the enthusiasm for EVs is waning in other markets around the world.', '“China’s EV industry is only going to go from strength to strength as a whole, but not every player today will see the finish line,” said Mark Rainford, an automotive industry commentator based in Shanghai who hosts the YouTube channel “Inside China Auto.”', 'Even Chinese officials have said that carmakers will need a cast iron stomach to pull through the next few months.', '“Competition in the new energy vehicle (NEV) industry will be extremely fierce in 2024,” the National Development and Reform Commission (NDRC), the country’s top economic planner, said on Monday.', 'More than a dozen passenger carmakers disappeared from the market last year, according to statistics from the China Passenger Car Association.', 'These include once-popular EV brands, such as WM Motor, Byton, Aiways, and Levdeo.', 'Some global automakers have also had to restructure their businesses or shut down operations.', 'In October, Mitsubishi Motors announced it would end production of its cars at its joint venture in China.', 'Honda (HMC), Hyundai and Ford (F) have also taken steps, including layoffs and factory sales, to cut costs, according to stock exchange filings and state media reports.', 'By 2030, China could have fewer than five major EV players, Richard Yu, CEO of Huawei’s consumer business division, predicted last June.', 'Huawei has formed partnerships with several automakers to produce EVs.', 'So what makes the industry so difficult for both local and foreign players, and what’s ahead for EV makers in the world’s second largest economy?', 'Aggressive price cuts are a major headache.', 'The price war kicked off in October 2022, when Tesla (TSLA) slashed prices for its Model 3 and Model Y cars in China by as much as 9%.', 'Three months later, it discounted its cars again, triggering a wave of price cuts that engulfed the country’s auto industry in 2023, including gasoline car producers.', 'The pressure just became even more intense.', 'Just this week, Tesla once again cut the starting prices of fourmodels sold in mainland China, its largest overseas market, by 14,000 yuan ($1,932).', 'Xpeng and Li Auto, China’s fastest growing car brands, immediately followed suit, offering steep discounts or tens of millions of dollars in subsidies to attract buyers.', '“The price war is likely to rage on further into this year, though it’s hard to imagine prices can come down much further than they already have,” said Rainford.', 'The deals available to Chinese car buyers are now very attractive, but some brands will not be able to sustain these discounts forever, he said.', '“They’re going to need deep pockets and smart marketing to take enough business,” he added.', 'The price cuts have squeezed profitability.', 'In 2023, the average profit margin for China’s auto industry slid to 5%, the lowest level in at least a decade, according to data from the China Association of Auto Manufacturers (CAAM).', 'Overcrowding is another major issue plaguing China’s EV industry.', 'The NDRC expects more than 110 new NEV models to be launched this year, adding to a flood of EVs hitting the market.', 'For 2024, BYD, Huawei’s Aito and Li Auto alone are planning to increase deliveries by 2.3 million vehicles, the NDRC said.', 'But the total market demand is forecast to increase by only 2.1 million cars.', '“The market will be in a state of oversupply for a long time,” it added.', 'And now, more companies are joining the overcrowded field.', 'Last month, Xiaomi, a Chinese smartphone brand, launched its electric car, the SU7 sedan.', 'CEO Lei Jun said he wants to take on Tesla and Porsche with the new premium car that comes with a starting price of just 215,900 yuan ($29,794).', 'Last November, Meizu, another smartphone maker, announced it would partner with Geely Auto and launch its first EV, Meizu DreamCar MX, in 2024.', 'The same month, Huawei launched its first electric sedan, the Luxeed S7, co-developed with Chery Auto with a view to taking on Tesla’s Model S.  The CAAM has forecast the country’s total passenger cars sales will be around 26.8 million vehicles for 2024.', 'But the combined sales targets by major manufacturers have so far reached nearly 30 million units.', 'That oversupply means companies need to speed up sales, including by boosting exports — at the risk of raising tensions with key trading partners.', 'Failure to do so may cause cash flow problems and plunge the manufacturers into crisis.', 'And the battle may get harder for foreign players.', 'Tesla wasbriefly dethroned by BYDas the world’s bestselling EV brand in the fourth quarter of last year.', 'BYD’s entry-level model sells in China for the equivalent of just below $10,000.', 'In contrast, Tesla’s Model 3, its cheapest model, currently costs at least 231,900 yuan ($32,002) after the latest price cut.', '“The quality of the products now, combined with the unparalleled levels of automation and innovation going into Chinese cars, means it’s the traditional foreign players who will be feeling the pressure rising as more Chinese brands display their wares in international markets,” Rainford said.', 'As competition becomes more intense, many carmakers will perish in the coming months, according to China’s EV company CEOs.', '“Entering 2024, the knockout round of China’s auto industry will begin in an all-round way, and the industry will enter a period of consolidation, with a complete reshuffle,” said Gan Jiayue, chief executive officer of Geely Auto, at the company’s earnings conference in March.', 'Wang Chuanfu, chairman of BYD, also predicted in March that a “brutal elimination round” is coming.', '“China’s EV industry has entered a stage of cyclical adjustment after two decades of growth,” he said at a forum in Beijing. “', 'Companies must form economies of scale and brand advantages as soon as possible.”', 'Further consolidation of the industry means more small-to-medium-sized companies could be wiped out, industry insiders predict.', 'According to Yin Tongyue, chairman of Chery Auto, EV makers are entering a “life and death race.”', 'He added last month that his company would roll out 39 new pure electric and hybrid models in 2024 and 2025 to gain a top position in the EV market.', 'But for those that survive, the future isn’t entirely bleak.', 'In 2024, the market share of electric cars could reach up to 45% in China, underpinned by competition among manufacturers, falling battery and car prices and ongoing policy support, according to the International Energy Agency.']",-0.0012676710398993,"Chinese EV makers showing off their newest models at Auto China, which kicks off in Beijing on Thursday, have enjoyed generous support from the government for years, with some growing rapidly to become global players.","From a brutal price war to slowing sales in a weakening economy, the challenges unfolding in China have also forced some global automakers to retreat.",-0.1663396229615082,He added last month that his company would roll out 39 new pure electric and hybrid models in 2024 and 2025 to gain a top position in the EV market.,"In 2023, the average profit margin for China’s auto industry slid to 5%, the lowest level in at least a decade, according to data from the China Association of Auto Manufacturers (CAAM).",2024-04-24
-Bubble tea: China chain Chabaidao plunges in Hong Kong debut,https://www.bbc.co.uk/news/articles/cv208e2d141o,2024-04-23T05:47:25.747Z,"Shares in Chinese bubble tea chain Sichuan Baicha Baidao, which is also known as Chabaidao, have fallen by more than 26% in their first day of trading on the Hong Kong Stock Exchange. Chabaidao's market debut was the Asian financial hub's largest initial public offering (IPO) so far this year. The poor performance underscores the difficulties the city is facing in attracting investment. Chabaidao, which means 100 varieties of tea, is China’s third-biggest fresh tea drinks chain by retail sales. The Chengdu-based company raised about $330m (£267m) in the IPO even as the offering was met with tepid interest from investors. The firm said it plans to use about half the money to upgrade its operations and strengthen its supply chain. Rival bubble tea firms Mixue, Guming and Auntea Jenny have also said they are planning to sell shares in Hong Kong. However, Chabaidao's weak debut highlights the challenges faced by authorities as they attempt to revive confidence in the city's stock market. Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China. Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades. The city's benchmark Hang Seng share index has lost over 16% of its value in the last year. Last week, China’s securities regulator said it will support share offerings in Hong Kong. The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub. ",BBC,23/04/2024,"['Shares in Chinese bubble tea chain Sichuan Baicha Baidao, which is also known as Chabaidao, have fallen by more than 26% in their first day of trading on the Hong Kong Stock Exchange.', ""Chabaidao's market debut was the Asian financial hub's largest initial public offering (IPO) so far this year."", 'The poor performance underscores the difficulties the city is facing in attracting investment.', 'Chabaidao, which means 100 varieties of tea, is China’s third-biggest fresh tea drinks chain by retail sales.', 'The Chengdu-based company raised about $330m (£267m) in the IPO even as the offering was met with tepid interest from investors.', 'The firm said it plans to use about half the money to upgrade its operations and strengthen its supply chain.', 'Rival bubble tea firms Mixue, Guming and Auntea Jenny have also said they are planning to sell shares in Hong Kong.', ""However, Chabaidao's weak debut highlights the challenges faced by authorities as they attempt to revive confidence in the city's stock market."", ""Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China."", 'Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.', ""The city's benchmark Hang Seng share index has lost over 16% of its value in the last year."", 'Last week, China’s securities regulator said it will support share offerings in Hong Kong.', ""The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub.""]",0.2742914355646294,Investors are concerned about Hong Kong's recovery from the pandemic and its national security legislation as well as slowing economic growth in China.,"Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.",-0.5467110541131761,The watchdog also plans to relax regulations rules on stock trading links between the city and the mainland as it tries to boost Hong Kong's position as an international financial hub.,"Last year, the amount of money raised by IPOs in Hong Kong slumped to the lowest level in two decades.",2024-04-24
-Spotify turns up volume to make record profits,https://www.bbc.co.uk/news/business-68884501,2024-04-23T23:18:55.000Z,"Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff.  The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.  But its quarterly gross profit came at the expense of missing its forecast for monthly active users. Last year it cut 17% of its workforce in a move to clamp down on costs. Spotify's CEO Daniel Ek said last December about 1,500 jobs would be axed as part of ""substantial action to rightsize our costs"" so that the company could meet its objectives.  But the tech company has been on a mission expand worldwide and reach a billion users by 2030.  On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences.  ""We are going to add back some marketing spend over the year,"" Mr Ek said. ""Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much."" Much of Spotify's profits were driven by its podcast business. Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.  It invested over a billion euros to build up its podcast business, including spending hundreds of millions for popular shows such as the ""The Joe Rogan Experience"". ""It [podcasting] was a drag last year. Now it is another profit centre for us,"" Mr Ek said. The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn.  Spotify has raised prices to boost revenue and experimented with different subscription plans. The streaming service would also provide a music-only tier for ""those consumers that only care about the music side"", the firm's CEO said.  Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter. It aims to have 631 million midway through the year.  However, the number of premium subscribers rose by 14% in the first quarter to 239 million, in line with estimates. Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday. Since it launched in 2006, Spotify has invested a huge amount of money growing the business, and in securing exclusive content.  Podcasts created by Michelle and Barack Obama, as well as the Duke and Duchess of Sussex, have all featured on the platform. The deal with Harry and Meghan cost a reported $25m (£19.7m) and saw just 12 episodes delivered over two-and-a-half years before the deal ended last June. ",BBC,23/04/2024,"['Music streaming giant Spotify has announced record profits of over €1bn (£860m) after a year of cutting costs and laying off staff.', 'The Swedish company has been growing its user base for years, offering subscribers access to podcasts and audiobooks.', 'But its quarterly gross profit came at the expense of missing its forecast for monthly active users.', 'Last year it cut 17% of its workforce in a move to clamp down on costs.', 'Spotify\'s CEO Daniel Ek said last December about 1,500 jobs would be axed as part of ""substantial action to rightsize our costs"" so that the company could meet its objectives.', 'But the tech company has been on a mission expand worldwide and reach a billion users by 2030.', 'On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. ""', 'We are going to add back some marketing spend over the year,"" Mr Ek said. ""', 'Because we want to keep on having the growth and we saw that in some territories, we may have pulled back a little bit too much.""', ""Much of Spotify's profits were driven by its podcast business."", 'Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.', 'It invested over a billion euros to build up its podcast business, including spending hundreds of millions for popular shows such as the ""The Joe Rogan Experience"". ""', 'It [podcasting] was a drag last year.', 'Now it is another profit centre for us,"" Mr Ek said.', ""The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn."", 'Spotify has raised prices to boost revenue and experimented with different subscription plans.', 'The streaming service would also provide a music-only tier for ""those consumers that only care about the music side"", the firm\'s CEO said.', 'Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter.', 'It aims to have 631 million midway through the year.', 'However, the number of premium subscribers rose by 14% in the first quarter to 239 million, in line with estimates.', 'Spotify shares, which initially fell on the quarter results, reversed course to rise 8% in premarket trading on Tuesday.', 'Since it launched in 2006, Spotify has invested a huge amount of money growing the business, and in securing exclusive content.', 'Podcasts created by Michelle and Barack Obama, as well as the Duke and Duchess of Sussex, have all featured on the platform.', 'The deal with Harry and Meghan cost a reported $25m (£19.7m) and saw just 12 episodes delivered over two-and-a-half years before the deal ended last June.']",0.1906110485978383,"On Tuesday it announced that mission would start again in earnest, with money being spent to win over new audiences. ""","Gross margins rose to 27.6% in the quarter, up from 25.2% a year earlier.",0.2569666728377342,"The company's quarterly revenue rose 20% to €3.64bn, beating estimates of €3.61bn.","Spotify currently has 615 million users, a shade down on its own forecast of 618 million for the quarter.",2024-04-24
-Chipotle posts big earnings beat as diners shake off higher prices,https://www.cnbc.com/2024/04/24/chipotle-mexican-grill-cmg-q1-2024-earnings.html,2024-04-24T22:10:02+0000,"In this articleChipotle Mexican Grill on Wednesday reported quarterly earnings and revenue that beat analysts' expectations, fueled by higher traffic to its restaurants.The stock rose 4% in extended trading.Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Chipotle reported first-quarter net income of $359.3 million, or $13.01 per share, up from $291.6 million, or $10.50 per share, a year earlier.Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.Net sales climbed 14.1% to $2.7 billion.The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%. Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%.In February, Chief Financial Officer Jack Hartung told analysts that ""unusually cold weather"" hurt January sales. But demand rebounded in the rest of the quarter to offset the sluggish first month.Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices. The company once again raised its prices in October, citing inflation. Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.CEO Brian Niccol said the company saw traffic growth across income groups during the quarter. He credited the chain's value perception among diners. Previously, executives have also emphasized that most of its customers come from higher-income brackets.Earlier this month, Chipotle raised prices in California roughly 7% to offset the state's higher minimum wage for fast-food workers, but the company does not have plans for any more hikes, Niccol said on CNBC's ""Closing Bell"" on Wednesday.Chipotle has also been focusing on making its burritos and bowls more quickly, improving the industry metric known as throughput. Niccol said throughput reached its highest level in four years during the first quarter.The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.For the full year, Chipotle now anticipates same-store sales will grow by a mid-to-high single-digit percentage, up from its prior range of a mid-single-digit increase. The company reiterated its forecast of 285 to 315 new locations in 2024.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history. The company is seeking shareholder approval at its annual meeting on June 6. If investors vote ""yes,"" the stock will start trading on a post-split basis on June 26.",CNBC,24/04/2024,"[""In this articleChipotle Mexican Grill on Wednesday reported quarterlyearningsand revenue that beat analysts' expectations, fueled by higher traffic to its restaurants."", 'The stock rose 4% in extended trading.', ""Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Chipotle reported first-quarter net income of $359.3 million, or $13.01 per share, up from $291.6 million, or $10.50 per share, a year earlier."", 'Excluding a 36-cent hit from increases to its legal reserves, the burrito chain earned $13.37 per share.', 'Net salesclimbed14.1% to $2.7 billion.', ""The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%."", 'Chipotle said traffic increased 5.4% from the year-ago period, while the average check was up just 1.6%.In February, Chief Financial Officer Jack Hartung told analysts that ""unusually cold weather"" hurt January sales.', 'But demand rebounded in the rest of the quarter to offset the sluggish first month.', 'Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices.', 'The company once again raised its prices in October, citing inflation.', 'Others in the restaurant industry have turned to limited-time offers and deals to appeal to customers, particularly those with lower incomes.', 'CEO Brian Niccol said the company saw traffic growth across income groups during the quarter.', ""He credited the chain's value perception among diners."", 'Previously, executives have also emphasized that most of its customers come from higher-income brackets.', 'Earlier this month, Chipotle raised prices in California roughly 7% to offset the state\'s higher minimum wage for fast-food workers, but the company does not have plans for any more hikes, Niccol said on CNBC\'s ""Closing Bell"" on Wednesday.', 'Chipotle has also been focusing on making its burritos and bowls more quickly, improving the industry metric known as throughput.', 'Niccol said throughput reached its highest level in four years during the first quarter.', 'The chain added 47 new locations to its footprint during the first quarter, inching closer to its long-term goal of doubling its total number of restaurants to reach 7,000 stores.', 'For the full year, Chipotle now anticipates same-store sales will grow by a mid-to-high single-digit percentage, up from its prior range of a mid-single-digit increase.', ""The company reiterated its forecast of 285 to 315 new locations in 2024.In March, Chipotle's board approved a 50-for-1 stock split, one of the largest in the New York Stock Exchange's history."", 'The company is seeking shareholder approval at its annual meeting on June 6.', 'If investors vote ""yes,"" the stock will start trading on a post-split basis on June 26.']",0.1267962532755779,He credited the chain's value perception among diners.,But demand rebounded in the rest of the quarter to offset the sluggish first month.,0.852291489348692,"The company's same-store sales rose 7%, topping StreetAccount estimates of 5.2%.",Chipotle has become the rare restaurant chain to report rising transactions despite higher menu prices.,2024-04-24
-FTC sues to block Coach parent Tapestry's acquisition of Capri Holdings,https://www.cnbc.com/2024/04/22/ftc-sues-to-block-tapestry-acquisition-of-capri-holdings.html,2024-04-22T21:58:59+0000,"The U.S. Federal Trade Commission on Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry.The move by regulators brings at least a temporary halt to a deal that would marry two major names in American luxury retail and put six fashion brands under a single company: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors. With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton.In a news release, the FTC said the combined company would harm shoppers and employees. It said Tapestry and Capri ""currently compete on everything from clothing to eyewear to shoes.""""With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,"" Henry Liu, director of the FTC's Bureau of Competition, said in the release. ""This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions.""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.""In a statement, the company said it must win the business of consumers who increasingly shop across brands, channels and price points.""The bottom line is that Tapestry and Capri face competitive pressures from both lower- and higher-priced products,"" it said. ""In bringing this case, the FTC has chosen to ignore the reality of today's dynamic and expanding $200 billion global luxury industry.""Capri echoed that argument in its own statement, saying consumers ""have hundreds of handbag choices at every price point across all channels, and barriers to entry are low.""Tapestry and Capri both said they will fight for the transaction in court, with Tapestry saying it will work ""expeditiously to close the transaction in calendar year 2024.""Tapestry announced the proposed acquisition in August. The deal had been expected to close in 2024. It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.When Tapestry unveiled the deal, CEO Joanne Crevoiserat told CNBC that the combined companies would be able to reach more customers across the globe. Together, the two companies would have over $12 billion in annual revenue and a presence in more than 75 countries.Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending. Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers.Led by Crevoiserat, Tapestry has raised the profile of Coach's brand, attracted younger shoppers, and tried to lean on fashion and loyalty, rather than deep discounts, to drive higher sales and profits. The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter.As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.",CNBC,22/04/2024,"[""The U.S. Federal Trade Commissionon Monday sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade's parent company, Tapestry."", ""The move by regulators brings at least a temporary halt to a deal that would marry two major names in American luxury retail and put six fashion brands under a single company: Tapestry's Coach, Kate Spade and Stuart Weitzman and Capri's Versace, Jimmy Choo and Michael Kors."", ""With the transaction, the luxury brands could be poised to better compete with European luxury names, such as Burberry and LVMH's Louis Vuitton."", 'In a news release, the FTC said the combined company would harm shoppers and employees.', 'It said Tapestry and Capri ""currently compete on everything from clothing to eyewear to shoes.', '""""With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry,"" Henry Liu, director of the FTC\'s Bureau of Competition, said in the release. ""', 'This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions.', '""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.', '""In a statement, the company said it must win the business of consumers who increasingly shop across brands, channels and price points.', '""The bottom line is that Tapestry and Capri face competitive pressures from both lower- and higher-priced products,"" it said. ""', ""In bringing this case, the FTC has chosen to ignore the reality of today's dynamic and expanding $200 billion global luxury industry."", '""Capri echoed that argument in its own statement, saying consumers ""have hundreds of handbag choices at every price point across all channels, and barriers to entry are low.', '""Tapestry and Capri both said they will fight for the transaction in court, with Tapestry saying it will work ""expeditiously to close the transaction in calendar year 2024.""Tapestry announced the proposed acquisition in August.', 'The deal had been expected to close in 2024.', 'It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.', 'When Tapestry unveiled the deal, CEO Joanne Crevoiserat told CNBC that the combined companies would be able to reach more customers across the globe.', 'Together, the two companies would have over $12 billion in annual revenue and a presence in more than 75 countries.', 'Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending.', 'Yet Capri, in particular, has been more vulnerable because of its heavier reliance than Tapestry on department stores and other wholesale retailers.', ""Led by Crevoiserat, Tapestry has raised the profile of Coach's brand, attracted younger shoppers, and tried to lean on fashion and loyalty, rather than deep discounts, to drive higher sales and profits."", ""The vast majority of Tapestry's sales are through its own website and stores, with wholesale accounting for only about 10% of sales globally in the most recently reported fiscal quarter."", ""As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.""]",-0.0241006633612018,"It had already secured approval from regulators in Europe and Japan, according to a financial filing by the company earlier this month, but was still waiting for the approval of U.S. officials — the only regulator still outstanding.","""Tapestry argued the federal agency ""fundamentally misunderstands both the marketplace and the way in which consumers shop.",0.033528881413596,"As of Monday's close, shares of Tapestry are up nearly 10% so far this year compared with the stock of Capri, which has fallen about 24% over the same period.","Both Tapestry and Capri have been under pressure, as consumers continue to be choosier with discretionary spending.",2024-04-24
-VW workers in Tennessee vote to join UAW in historic win for Detroit union,https://www.cnbc.com/2024/04/19/vw-workers-in-tennessee-vote-to-join-uaw-in-historic-win-for-union.html,2024-04-20T03:21:25+0000,"Volkswagen workers in Chattanooga, Tennessee, have overwhelmingly voted to join the United Auto Workers — marking a major milestone for the union and its first successful organizing drive of an automaker outside of Detroit's Big Three.Union organizing passed with 73% of the vote, or 2,628 workers, in support for the UAW, according to the National Labor Relations Board, which oversaw the election. A total of roughly 3,620, or about 84%, of the 4,326 eligible VW workers voted in the election, the NLRB said. Seven ballots were challenged and three others were voided.""In a historic victory, an overwhelming majority of Volkswagen workers in Chattanooga, Tennessee, have voted to join the UAW,"" the union said in a release Friday night before official results were released by the NLRB. ""While votes continue to be tallied, the outcome is clear: Volkswagen workers in Chattanooga are the first Southern autoworkers outside of the Big Three to win their union.""The NLRB still must certify the result, but barring any unexpected issues or challenges, the company is required to bargain in good faith with the union. The talks can be direct or go first through a mediator.The sides have five business days to file objections to the election, according to the NLRB. If no objections are filed, the result will be certified.VW confirmed the UAW's win in a release Friday night but offered little additional comment.""We will await certification of the results by the NLRB,"" the company said. ""Volkswagen thanks its Chattanooga workers for voting in this election.""UAW leaders and supporters are expected to use the win as a launching point for the union's unprecedented organizing campaign of 13 automakers in the U.S. following major contract wins last year with General Motors, Ford Motor and Chrysler parent Stellantis.President Joe Biden, who has heavily supported organized labor and the UAW, congratulated the union on its ""historic vote.""""Across the country, union members have logged major wins and large raises, including auto workers, actors, port workers, Teamsters, writers, warehouse and health care workers, and more. Together, these union wins have helped raise wages and demonstrate once again that the middle-class built America and that unions are still building and expanding the middle class for all workers,"" Biden said in a statement.UAW President Shawn Fain and others saw this week's vote as the union's best shot at organizing the VW plant following the strikes and record contracts at the Detroit automakers. Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.The successful organizing drive comes days after six Republican governors of Southern states, including Tennessee Gov. Bill Lee, released a joint statement condemning the UAW's push to organize in their states.""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. These jobs have become part of the fabric of the automotive manufacturing industry. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" the statement said.The UAW previously failed to organize the Volkswagen plant in 2014 and 2019 as it faced greater outside political pressure and worker opposition. Workers rejected union membership by just 833 to 776 votes five years ago.The union will now set its sights on negotiating with VW. It will also look to an anticipated organizing vote of Mercedes-Benz workers at an SUV plant in Vance, Alabama.Workers at the facility earlier this month filed NLRB paperwork for a formal election to join the UAW. The vote for 5,200 workers will occur from May 13 through May 17, the NLRB announced Thursday.""The first thing you need to do to win is to believe that you can win,"" Fain told Mercedes-Benz workers last month. ""That this job can be better. That your life can be better. And that those things are worth fighting for. That is why we stand up. That's why you're here today. Because deep down, you believe it's possible.""Fain previously vowed to move beyond the Big Three and expand to the ""Big Five or Big Six"" by the time its four-and-a-half-year contracts with the Detroit automakers expire in 2028.",CNBC,20/04/2024,"[""Volkswagen workers in Chattanooga, Tennessee, have overwhelmingly voted to join the United Auto Workers — marking a major milestone for the union and its first successful organizing drive of an automaker outside of Detroit's Big Three."", 'Union organizing passed with 73% of the vote, or 2,628 workers, in support for the UAW, according to the National Labor Relations Board, which oversaw the election.', 'A total of roughly 3,620, or about 84%, of the 4,326 eligible VW workers voted in the election, the NLRB said.', 'Seven ballots were challenged and three others were voided.', '""In a historic victory, an overwhelming majority of Volkswagen workers in Chattanooga, Tennessee, have voted to join the UAW,"" the union said in a release Friday night before official results were released by the NLRB. ""', 'While votes continue to be tallied, the outcome is clear: Volkswagen workers in Chattanooga are the first Southern autoworkers outside of the Big Three to win their union.', '""The NLRB still must certify the result, but barring any unexpected issues or challenges, the company is required to bargain in good faith with the union.', 'The talks can be direct or go first through a mediator.', 'The sides have five business days to file objections to the election, according to the NLRB.', 'If no objections are filed, the result will be certified.', ""VW confirmed the UAW's win in a release Friday night but offered little additional comment."", '""We will await certification of the results by the NLRB,"" the company said. ""', 'Volkswagen thanks its Chattanooga workers for voting in this election.', '""UAW leaders and supporters are expected to use the win as a launching point for the union\'s unprecedented organizing campaign of 13 automakers in the U.S. following major contract wins last year with General Motors, Ford Motor and Chrysler parent Stellantis.', 'President Joe Biden, who has heavily supported organized labor and the UAW, congratulated the union on its ""historic vote.', '""""Across the country, union members have logged major wins and large raises, including auto workers, actors, port workers, Teamsters, writers, warehouse and health care workers, and more.', 'Together, these union wins have helped raise wages and demonstrate once again that the middle-class built America and that unions are still building and expanding the middle class for all workers,"" Biden said in a statement.', ""UAW President Shawn Fain and others saw this week's vote as the union's best shot at organizing the VW plant following the strikes and record contracts at the Detroit automakers."", 'Those agreements included significant wage increase, reinstatement of cost-of-living adjustments and other benefits.', ""The successful organizing drive comes days after six Republican governors of Southern states, including Tennessee Gov. Bill Lee, released a joint statement condemning the UAW's push to organize in their states."", '""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states.', 'These jobs have become part of the fabric of the automotive manufacturing industry.', 'Unionization would certainly put our states\' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" the statement said.', 'The UAW previously failed to organize the Volkswagen plant in 2014 and 2019 as it faced greater outside political pressure and worker opposition.', 'Workers rejected union membership by just 833 to 776 votes five years ago.', 'The union will now set its sights on negotiating with VW.', 'It will also look to an anticipated organizing vote of Mercedes-Benz workers at an SUV plant in Vance, Alabama.', 'Workers at the facility earlier this month filed NLRB paperwork for a formal election to join the UAW.', 'The vote for 5,200 workers will occur from May 13 through May 17, the NLRB announced Thursday.', '""The first thing you need to do to win is to believe that you can win,"" Fain told Mercedes-Benz workers last month. ""', 'That this job can be better.', 'That your life can be better.', 'And that those things are worth fighting for.', 'That is why we stand up.', ""That's why you're here today."", ""Because deep down, you believe it's possible."", '""Fain previously vowed to move beyond the Big Three and expand to the ""Big Five or Big Six"" by the time its four-and-a-half-year contracts with the Detroit automakers expire in 2028.']",0.2548423087657414,"""UAW leaders and supporters are expected to use the win as a launching point for the union's unprecedented organizing campaign of 13 automakers in the U.S. following major contract wins last year with General Motors, Ford Motor and Chrysler parent Stellantis.",Workers rejected union membership by just 833 to 776 votes five years ago.,0.6916145728184626,"""""Across the country, union members have logged major wins and large raises, including auto workers, actors, port workers, Teamsters, writers, warehouse and health care workers, and more.","Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" the statement said.",2024-04-24
-Luxury real estate prices just hit an all-time record,https://www.cnbc.com/2024/04/22/luxury-real-estate-prices-hit-an-all-time-record.html,2024-04-22T18:44:27+0000,"In this articleReal estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin. Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.Real estate experts and brokers chalk up the divergence to interest rates and supply. With mortgage rates now above 7% for a 30-year fixed loan, most homebuyers are finding prices out of reach. Affluent and wealthy buyers, however, are snapping up homes with cash, making them less vulnerable to high rates.Nearly half of all luxury homes, defined by Redfin as homes in the top 5% of their metro area by value, were bought with all cash in the quarter, according to Redfin. That is the highest share in at least a decade. In Manhattan, all-cash deals hit a record 68% of all sales, according to Miller Samuel.The flood of cash is also driving up prices at the top. Median luxury-home prices soared nearly 9% in the quarter, roughly twice the increase seen in the broader market, according to Redfin. The median price of luxury homes hit an all-time record of $1,225,000 during the period.""People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,"" said David Palmer, a Redfin agent in Seattle, where the median-priced luxury home sells for $2.7 million. ""They're ready to buy with more optimism and less apprehension.""The luxury market is also benefiting from more supply of homes for sale. Since wealthy sellers are more likely to buy with cash, they are not as worried about trading out of a low-rate mortgage like most homeowners. That has freed up the upper end of listings, creating more inventory and driving more sales.The number of luxury homes for sale jumped 13% in the first quarter, compared to a 3% decline for the rest of the housing market, according to Redfin. While overall luxury inventory remains ""well below"" pre-pandemic levels, the number of luxury listings that came online during the first quarter jumped 19%, the report said.""Prices continue to increase for high-end homes, so homeowners feel it's a good time to cash in on their equity,"" Palmer said.Still, not all luxury markets are booming, and the strongest price growth is in areas not typically known for luxury homes. According to Redfin, the market with the fastest luxury price growth was Providence, Rhode Island, with prices up 16%, followed by New Brunswick, New Jersey, where prices were up 15%. New York City saw the biggest price decline, down 10%.When it comes to overall sales of luxury homes, Seattle posted the strongest growth of any metro area, with sales up 37%. Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.Luxury homes sold the fastest in Seattle, with a median days on the market of nine days, followed by Oakland, California, and San Jose, California.Subscribe to CNBC's Inside Wealth newsletter with Robert Frank.",CNBC,22/04/2024,"['In this articleReal estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.', 'Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.', 'Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.', 'Real estate experts and brokers chalk up the divergence to interest rates and supply.', 'With mortgage rates now above 7% for a 30-year fixed loan, most homebuyers are finding prices out of reach.', 'Affluent and wealthy buyers, however, are snapping up homes with cash, making them less vulnerable to high rates.', 'Nearly half of all luxury homes, defined by Redfin as homes in the top 5% of their metro area by value, were bought with all cash in the quarter, according to Redfin.', 'That is the highest share in at least a decade.', 'In Manhattan, all-cash deals hit a record 68% of all sales, according to Miller Samuel.', 'The flood of cash is also driving up prices at the top.', 'Median luxury-home prices soared nearly 9% in the quarter, roughly twice the increase seen in the broader market, according to Redfin.', 'The median price of luxury homes hit an all-time record of $1,225,000 during the period.', '""People with the means to buy high-end homes are jumping in now because they feel confident prices will continue to rise,"" said David Palmer, a Redfin agent in Seattle, where the median-priced luxury home sells for $2.7 million. ""', ""They're ready to buy with more optimism and less apprehension."", '""The luxury market is also benefiting from more supply of homes for sale.', 'Since wealthy sellers are more likely to buy with cash, they are not as worried about trading out of a low-rate mortgage like most homeowners.', 'That has freed up the upper end of listings, creating more inventory and driving more sales.', 'The number of luxury homes for sale jumped 13% in the first quarter, compared to a 3% decline for the rest of the housing market, according to Redfin.', 'While overall luxury inventory remains ""well below"" pre-pandemic levels, the number of luxury listings that came online during the first quarter jumped 19%, the report said.', '""Prices continue to increase for high-end homes, so homeowners feel it\'s a good time to cash in on their equity,"" Palmer said.', 'Still, not all luxury markets are booming, and the strongest price growth is in areas not typically known for luxury homes.', 'According to Redfin, the market with the fastest luxury price growth was Providence, Rhode Island, with prices up 16%, followed by New Brunswick, New Jersey, where prices were up 15%.', 'New York City saw the biggest price decline, down 10%.When it comes to overall sales of luxury homes, Seattle posted the strongest growth of any metro area, with sales up 37%.', 'Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.', 'Luxury homes sold the fastest in Seattle, with a median days on the market of nine days, followed by Oakland, California, and San Jose, California.', ""Subscribe to CNBC'sInside Wealthnewsletter with Robert Frank.""]",0.2935726734738048,"Yet, luxury real estate sales increased more than 2%, posting their best year-over-year gains in three years, according to Redfin.","In this articleReal estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher rates and low inventory.",0.7137443707102821,"Austin, Texas ranked second with sales up 26%, followed by San Francisco with a 24% increase.","Overall real estate sales fell 4% nationwide in the first quarter, according to Redfin.",2024-04-24
-It’s back: Targeted Amex card holders can get up to 30% off at Amazon,https://edition.cnn.com/cnn-underscored/deals/amazon-amex-discount-promotion,"
-  
-        11:21 AM EST, Wed February 14, 2024
-    ","Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities. While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon. Right now, you may be eligible for an Amazon promotion where you can save big on Amazon purchases by redeeming as little as one Amex point.
-    
-            Targeted American Express card members can save as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout. However, your offer may be higher or lower.
-    
-            This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings. That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.
-    
-            With many Amazon discounted offers, scoring the deal can be a little complicated. But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping at Amazon.
-    
-            To start, you must have an American Express card that earns Membership Rewards points. Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work. But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.
-    
-            Next, you’ll need to link your Amazon and American Express accounts. Add your American Express card as a payment method in your Amazon account, if you haven’t already. Then look for the option to enroll in “Shop with Points” under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.
-    
-            Once your accounts are connected, you’ll need to activate the offer by clicking on this link. Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them. When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.
-    
-            But even if you’re not targeted, don’t give up hope. If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.
-    
-            If you’re eligible, activate the offer by clicking on the “Activate now” button — the enrollment page will indicate your particular discount. You can then shop at Amazon as you normally would, though only products sold and shipped by Amazon are eligible for these discounts. Additionally, Amazon gift cards are excluded, though other third-party retailer gift cards sold by Amazon might be eligible.
-    
-            But wait! There’s one more step. When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method. Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.
-    
-            When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents. That’s not the best value you can get for Amex points. Frequent flyer website The Points Guy values Membership Rewards points as high as 2 cents each when redeemed for travel.
-    
-            However, it’s important to note that you don’t have to pay for your entire Amazon purchase with points to get these discounts. In fact, you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order. However, some accounts might see that you need to redeem slightly more points — 714 to be exact — to receive the savings, so make sure to check the terms of your exact offer.
-    
-            To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change, Amazon may automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.
-    
-            Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order. The discount will apply on every order you place through June 30 until you hit the total maximum in savings — which will depend on your particular offer.
-    
-            Let’s take a look at some examples of how you can apply this discount to your upcoming Amazon purchases, even if you don’t need anything from Amazon right at the moment.
-    
-            With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings. An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.
-    
-            Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99. But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.
-    
-            Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.
-    
-            Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available. You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.
-    
-            Amazon has been eagerly offers some lucrative promotions over the last few years, so keep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.
-    
-            Also, make sure you read our guide to the best credit cards for Amazon to be sure you’re using the right card when you buy at Amazon.
-    
-            Looking for a travel credit card? Find out which cards CNN Underscored Money chose as the best travel credit cards currently available.",CNN,14/02/2024,"['Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.', 'While that’s true, there’s another lesser-known use for them — redeeming them for purchases at Amazon.', 'Right now, you may be eligible for anAmazonpromotion where you can save big on Amazon purchases by redeeming as little as one Amex point.', 'Targeted American Express card members cansave as much as 30% on their next Amazon purchase, for up to $30 in savings when you use Amex points to pay for at least a portion of your purchase at checkout.', 'However, your offer may be higher or lower.', 'This offer is set to expire on June 30, 2024, so even if you aren’t in the market to shop at Amazon right now, you have some time to take advantage of the savings.', 'That said, Amazon also states it will deactivate the offer after 24,167 customers have redeemed it.', 'With many Amazon discounted offers, scoring the deal can be a little complicated.', 'But we’re going to take you through it step by step to make sure you’re getting as much of a discount as possible when you’re shopping atAmazon.', 'To start, you must have an American Express card that earns Membership Rewards points.', 'Amex cards that earn other types of rewards, such as cash back or airline miles, won’t work.', 'But there are plenty of Amex cards that earn Membership Rewards points — a small sampling of them is at the end of this story.', 'Next, you’ll need tolink your Amazon and American Express accounts.', 'Add your American Express card as a payment method in your Amazon account, if you haven’t already.', 'Then look for the option toenroll in “Shop with Points”under the “Your Account” tab, and click the “Enroll” button for the Amex card you just added.', 'Once your accounts are connected, you’ll need to activate the offer byclicking on this link.', 'Remember, this is a targeted promotion, so not everyone will be eligible for it — you could be targeted for any one of the offers or none of them.', 'When you click on the link, if you see a message that you’re not eligible, then you’re unfortunately not targeted for this particular promotion.', 'But even if you’re not targeted, don’t give up hope.', 'If you just enrolled in “Shop with Points,” you may need to wait 24 hours for Amazon’s records to refresh before knowing if you’re targeted, so check back in a day or so.', 'If you’re eligible, activate the offer byclicking on the “Activate now” button— the enrollment page will indicate your particular discount.', 'You can thenshop at Amazonas you normally would, though only products sold and shipped by Amazon are eligible for these discounts.', 'Additionally, Amazon gift cards are excluded, though otherthird-party retailer gift cardssold by Amazon might be eligible.', 'But wait!', 'There’s one more step.', 'When you’re ready to check out, you’ll want to make sure to select your linked American Express card as your payment method.', 'Then you’ll need to use at least 1 point to pay for your purchase for the discount to apply.', 'When paying with Amex Membership Rewards points at Amazon, 1 point equals 0.7 cents.', 'That’s not the best value you can get for Amex points.', 'Frequent flyer websiteThe Points Guyvalues Membership Rewards points as high as 2 cents each when redeemed for travel.', 'However, it’s important to note that you don’t have to pay for your entireAmazonpurchase with points to get these discounts.', 'In fact,you can use just 1 point and pay for the rest with your Amex card, and you’ll still see the discount applied to your order.', 'However, some accounts might see that you need to redeem slightly more points —714 to be exact —to receive the savings, so make sure to check the terms of your exact offer.', 'To pay with the minimum number of points required, enter $0.01 in the points section at checkout, which will apply just 1 point to your payment, You can use any number of points you want, but if you don’t make this change,Amazonmay automatically apply the maximum number of points to cover the entire purchase, so you’ll want to make sure to update the amount before you place the order.', 'Once you’ve applied at least 1 point to your payment, you’ll see the discount added to your order.', 'The discount will apply on every order you place through June 30 until you hit the total maximum in savings —which will depend on your particular offer.', 'Let’s take a look at some examples of how you can apply this discount to your upcomingAmazonpurchases, even if you don’t need anything from Amazon right at the moment.', 'With airlines having regular delays and cancellations over the last year, placing an Apple AirTag on your luggage can be a great way to track the location of your belongings.', 'An Apple AirTag 4 Pack is currently priced at $78.99 before taxes and shipping, but if you’re targeted for the 30% off American Express offer, that’ll bring the pack down to $55.30, or around $13.83 per AirTag before tax.', 'Or, if you’re hoping to pick up a set of new Apple AirPods Pro 2, right now Amazon is selling them for $189.99.', 'But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.', 'Even if you aren’t eligible for any of these particular Amex promotions, offers like this typically resurface many times throughout the year, so keep on checking back.', 'Amazon often runs similar promotions for other credit cards, so check out our guides to discounts for Chase and Discover card holders to see what’s available.', 'You might also find that even if you aren’t eligible now for one of these offers, you could magically become targeted in a few weeks, so keep on checking the link to see if you’ve been granted access.', 'Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.', 'Also, make sure you read our guide to thebest credit cards for Amazonto be sure you’re using the right card when you buy at Amazon.', 'Looking for a travel credit card?', 'Find out which cardsCNN Underscored Moneychose as thebest travel credit cardscurrently available.']",0.2766683229921542,Most American Express card members typically think of their Amex points as opportunities for amazing travel opportunities.,That’s not the best value you can get for Amex points.,-0.0578339397907257,"Amazon has been eagerly offers some lucrative promotions over the last few years, sokeep your credit card accounts linked to your Amazon account, and if you’re targeted for any of these offers, make sure you use them before they expire at the end of the year.",But you can knock that down even further to as low as $159.99 before taxes if you’re targeted for this offer.,2024-04-24
-Top soccer clubs are using an AI-powered app to scout future stars,https://edition.cnn.com/2024/03/01/tech/aiscout-app-soccer-scouting-spc-intl/index.html,"
-  Published
-        7:14 AM EST, Fri March 1, 2024
-    ","A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.
-    
-            Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills. It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.
-    
-            Performances are automatically scored by artificial intelligence (AI) technology. The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.
-    
-            The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.
-    
-            “We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.
-    
-            “To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”
-    
-            It already appears to be working for some. Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019. After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club. He signed a contract with EPL team Bournemouth in 2021.
-    
-            Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.
-    
-            Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.
-    
-            Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform. Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.
-    
-            The use of smart technology in sport continues to expand, including AI commentary tools and wearable tech for elite athletes. The global market for sports analytics, valued at $2.7 billion in 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.
-    
-            Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry? For Felton-Thomas, new technologies can co-exist with traditional methods.
-    
-            “It’s more about evolution than revolution,” Felton-Thomas explained.
-    
-            “We can’t tell you when that player’s actually in that match, how does he deal with adversity? What happens when he’s 2-0 down? What happens when someone’s shouting at him? What happens when he’s just made a massive mistake?”
-    
-            “We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”
-    
-            While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years. Further ahead, it may branch out beyond sports.
-    
-            “You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.",CNN,01/03/2024,"['A London-based technology company is looking to “democratize” talent-identification and scouting in soccer using a mobile app.', 'Free to download and available globally, the aiScout app allows aspiring soccer stars to enter virtual trials for professional clubs by uploading self-recorded footage of themselves completing a series of drills.', 'It offers 75 exercises, designed to test a range of skills, with videos showing users how to complete them.', 'Performances are automatically scored by artificial intelligence (AI) technology.', 'The data can then be accessed by clubs, allowing their scouts to peruse scores for viable talent, honing their search with a variety of filters; from age and gender to position on the pitch.', 'The app currently has two English Premier League (EPL) partners, Chelsea and Burnley, and clubs can tailor their in-app trials to meet specific needs and set their own benchmarks by having their academy players complete the same drills.', '“We’re putting that data up front to make better use of [the scouts’] time,” said Richard Felton-Thomas, chief operating officer of ai.io, the company behind the app.', '“To say [to scouts], ‘Go over to this place today because there’s three players in that game that are all actually beating your Chelsea standard’ — that’s going to be the best use of your time.’”', 'It already appears to be working for some.', 'Ben Greenwood had never had a trial with a professional club until he downloaded the app in 2019.', 'After uploading footage of himself, the 17-year-old landed a trial with Chelsea, becoming the first user of the app to get a trial with a pro club.', 'He signed a contractwith EPL team Bournemouthin 2021.', 'Having beta-tested in with players spanning 125 countries, Greenwood among them, 135 players have been trialed or signed by pro clubs or national teams through the app — which fully launched in September 2023 — according to Felton-Thomas.', 'Just over 100,000 players make up the current database, but with over 100 clubs lined up to join Chelsea and Burnley, as well as a multi-year partnership with Major League Soccer in the US announced last May, Felton-Thomas projects user numbers to surge into the millions as the operation ramps up this year.', 'Felton-Thomas said the “lion’s share” of its income comes from charging clubs a license fee to run the platform.', 'Annual fees vary depending on the size of the club and the tools they require, ranging from six figures for “tier one” sides like Chelsea, to thousands of pounds for clubs lower down the footballing pyramid.', 'The use of smart technology in sport continues to expand, includingAI commentary tools and wearable tech for elite athletes.', 'The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.', 'Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?', 'For Felton-Thomas, new technologies can co-exist with traditional methods.', '“It’s more about evolution than revolution,” Felton-Thomas explained.', '“We can’t tell you when that player’s actually in that match, how does he deal with adversity?', 'What happens when he’s 2-0 down?', 'What happens when someone’s shouting at him?', 'What happens when he’s just made a massive mistake?”', '“We’ve got the ability to just augment real people to do their jobs better and faster, which then gives an opportunity to the player through the AI, but you’re still actually just connecting them to the human on the other side, which is the club and the scout.”', 'While football remains ai.io’s primary focus, the company is looking into opportunities in other sports to launch in the coming years.', 'Further ahead, it may branch out beyond sports.', '“You think about the notion that you can be at home and analyze your movements, and how this could spin into health care, physical assessments for military disciplines and emergency services,” Felton-Thomas told CNN.']",0.2022322827681825,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.","“We can’t tell you when that player’s actually in that match, how does he deal with adversity?",0.6922526359558105,"The global market for sports analytics, valued at$2.7 billionin 2023, is projected to grow 22% by the end of the decade, according to market research firm Grand View Research.",Should soccer talent scouts be concerned about being edged out by the arrival of AI in their industry?,2024-04-24
-Your complete guide to earning and redeeming points in the Citi ThankYou Rewards program,https://edition.cnn.com/cnn-underscored/travel/citi-thankyou-points-rewards,"
-  Updated
-        12:10 PM EST, Wed January 10, 2024
-    ","The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®. Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot. In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.
-    
-            When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings. And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.
-    
-            If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.
-    
-            You can earn Citi ThankYou points in numerous ways. The easiest is through credit card sign-up bonuses, which range depending on the card. But that’s not the only way to earn points in this program. Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.
-    
-            Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards. The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards and cash back cards. However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.
-    
-            Citi has two cards that earn ThankYou points directly. These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.
-    
-            As mentioned, there are also a number of other traditional cash back credit cards in the Citi portfolio that allow you to boost your earnings. They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything — 1% when you buy, 1% when you pay. By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.
-    
-            Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense. You’ll enhance your point earning across the board without additional annual fees.
-    
-            By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.
-    
-            Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases. First, you’ll sometimes get bonus points just for adding someone to your account. Citi frequently sends out authorized user bonuses to targeted card holders. These bonuses are typically around 2,500 bonus points but can vary.
-    
-            Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card. Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as an authorized user on your account. Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.
-    
-            If you’d like to earn even more ThankYou points, you can do so with a checking account. That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account. With these accounts, you can earn up to 1,600 points per month on everyday banking activities. The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities. Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.
-    
-            Sharing points is a great way to consolidate existing points with a significant other or family member. Citi ThankYou is one of the few programs that allows members to share points free of charge. The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.
-    
-            It’s worth noting that shared points expire 90 days after receipt. So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them. Also, note that you can’t send or receive more than 100,000 points per calendar year.
-    
-            Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them. And thankfully, Citi offers many different ways for you to redeem your ThankYou points. You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.
-    
-            Here’s a look at your Citi ThankYou travel redemption options and how they work.
-    
-            Transferring points will get you the most value from your Citi ThankYou points. Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary. You can redeem them for stays at all-inclusive resorts,��international business-class tickets, domestic award flights and more. But keep in mind that not all airline and hotel loyalty programs are equal.
-    
-            Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are. Like with the Chase Ultimate Rewards program, Capital One miles and American Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.
-    
-            If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.
-    
-            By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket. As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.
-    
-            Keep in mind that the most obvious airline choice may not always be your best option. Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs. For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.
-    
-            Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel. That being said, Citi’s airline partners offer several sweet spot awards. These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile. Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following:
-    
-            Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners. But that may not always make sense for all card holders — and it’s not your only option.
-    
-            Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal. That’s significantly less than the value you’ll get from transfer partner redemptions. While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible. If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.
-    
-            Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point. This is ideal for folks who would rather leverage points for daily expenses than travel bookings. While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.
-    
-            For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense. Here are some additional ways you can redeem your ThankYou points:
-    
-            Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value. However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option. Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.
-    
-            Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy. The exact amount varies depending on the cabin and destination you’re flying to. Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights. While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.
-    
-            Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.
-    
-            Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals. Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value. Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.
-    
-            Looking for a new travel credit card? Check out CNN Underscored’s list of the best credit cards currently available.
-    
-            Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
-    
-            Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.",CNN,10/01/2024,"['The Citi ThankYou Rewards program has evolved over the past decade and is now a formidable competitor with established programs like American Express Membership Rewards® and Chase Ultimate Rewards®.', 'Citi’s got a relatively small portfolio of quality credit cards and a rewarding program to boot.', 'In fact, its credit cards offer some of the most generous category bonuses in exchange for reasonable annual fees.', 'When it comes to redeeming your hard-earned points, Citi has an impressive transfer partner list that makes it possible to maximize your rewards for travel bookings.', 'And if you don’t want to learn the ins and outs of various loyalty programs, Citi also gives you the option to use points for statement credits and direct travel bookings.', 'If you’re curious about how the Citi ThankYou program works, here’s everything you need to know about how to get the most out of the program for travel.', 'You can earn Citi ThankYou points in numerous ways.', 'The easiest is through credit card sign-up bonuses, which range depending on the card.', 'But that’s not the only way to earn points in this program.', 'Between checking account bonuses and authorized user incentives, there are many ways to earn ThankYou points beyond credit cards.', 'Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.', 'The issuer’s credit cards are generally split into two categories: traditional ThankYou points-earning cards andcash back cards.', 'However, recently, Citi made a change to its program that now sees its cash back credit cards earning ThankYou Rewards points, which can also be redeemed for traditional cash back.', 'Citi has two cards that earn ThankYou points directly.', 'These cards are ideal for maximizing rewards on everyday purchases, with the Citi Premier® Card and Citi Rewards+® Card specifically offering significant bonuses in those everyday categories.', 'As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.', 'They can be incredibly valuable, considering the Citi® Double Cash Card earns 2% on everything —1% when you buy, 1% when you pay.', 'By adding this card to your wallet, you’ll earn a minimum of 2 ThankYou points per dollar spent on all purchases that aren’t eligible for the bonus categories on the Citi Premier or Rewards+ cards.', 'Considering Citi’s cash back cards have no annual fees, adding one to your wallet could make a lot of sense.', 'You’ll enhance your point earning across the board without additional annual fees.', 'By combining the Citi cards you have in your wallet, you can maximize your earnings and ensure you continue to work your way toward your next redemption.', 'Adding an authorized user can help you earn more Citi points in two ways: bonus points for adding someone and for all of their purchases.', 'First, you’ll sometimes get bonus points just for adding someone to your account.', 'Citi frequently sends out authorized user bonuses to targeted card holders.', 'These bonuses are typically around 2,500 bonus points but can vary.', 'Secondly, you’ll earn Citi ThankYou points based on all the spending your authorized user puts on their card.', 'Of course, you’ll only want to consider adding a member of your household or someone you trust to pay you back as anauthorized useron your account.', 'Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.', 'If you’d like to earn even more ThankYou points, you can do so with a checking account.', 'That’s because Citi offers several checking accounts that earn ThankYou points as a benefit: The Citigold, Citi Priority, Citi Private Bank and Citibank Account.', 'With these accounts, you can earn up to 1,600 points per month on everyday banking activities.', 'The exact number of ThankYou points you’ll earn depends on your account type and qualifying activities.', 'Generally, Citigold, Citi Priority and Citi Private Bank accounts earn the most points.', 'Sharing points is a great way to consolidate existing points with a significant other or family member.', 'Citi ThankYou is one of the few programs that allows members to share points free of charge.', 'The only stipulation is that you can only share points with someone who has a Citi ThankYou card, and Citi Custom Cash card holders are not eligible.', 'It’s worth noting that shared points expire 90 days after receipt.', 'So you shouldn’t transfer points unless you or the person you’re sending them to has an immediate use for them.', 'Also, note that you can’t send or receive more than 100,000 points per calendar year.', 'Once you’ve earned a slew of Citi ThankYou points comes the fun part of redeeming them.', 'And thankfully, Citi offers many different ways for you to redeem your ThankYou points.', 'You’ll get the most bang for your buck by redeeming points for travel, though that’s certainly not the only option.', 'Here’s a look at your Citi ThankYou travel redemption options and how they work.', 'Transferring points will get you the most value from your Citi ThankYou points.', 'Citi has 18 airline and hotel partners, most of which you can transfer points to at a 1-to-1 ratio — however, that ratio can vary.', 'You can redeem them for stays atall-inclusive resorts,international business-class tickets, domestic award flights and more.', 'But keep in mind that not all airline and hotel loyalty programs are equal.', 'Ultimately, you’ll want to research which program will offer you the most in return, depending on what your travel plans are.', 'Like with the Chase Ultimate Rewards program, Capital One miles andAmerican Express Membership Rewards program, you’ll need to link your accounts with each of the transfer partners, and you’ll also need to search for award availability with the airline of your choice before transferring any points.', 'If you’re interested in transferring your Citi ThankYou points to a travel partner, these are your 18 options as well as the transfer rate.', 'By transferring Citi ThankYou points to partner airlines, you unlock the ability to travel for next to nothing — in most cases when redeeming travel rewards, you’ll just have to pay the taxes and fees on a ticket.', 'As a result, points and miles open up the door for flying experiences that would otherwise be out of reach.', 'Keep in mind that the most obvious airline choice may not always be your best option.', 'Airlines typically have extensive alliance networks, allowing you to redeem points for partner airlines through their respective programs.', 'For example, Delta Air Lines and Air France/KLM are both members of the SkyTeam alliance, meaning you can transfer your Citi ThankYou points to Flying Blue and redeem for flights operated by Delta Air Lines.', 'Citi’s airline partners will get you the most value for your points, especially if you redeem them for business- and first-class travel.', 'That being said, Citi’s airline partners offer several sweet spot awards.', 'These heavily discounted awards will save you points on travel and make earning ThankYou points worthwhile.', 'Some of these sweet spots awards that will get you maximum value for your ThankYou points include the following:  Generally speaking, you’ll get the most value out of your Citi ThankYou points by transferring them to airline or hotel partners.', 'But that may not always make sense for all card holders — and it’s not your only option.', 'Citi ThankYou points are worth 1 cent each when you use them to book travel through the Citi ThankYou portal.', 'That’s significantly less than the value you’ll get from transfer partner redemptions.', 'While transferring points is the best way to maximize your ThankYou points, doing so isn’t always possible.', 'If that’s the case — or if you’re not interested in researching award availability — redeeming at a fixed value for travel via the ThankYou portal is a decent option.', 'Citi offers several fixed redemption options where you’ll redeem your points at 1 cent per point.', 'This is ideal for folks who would rather leverage points for daily expenses than travel bookings.', 'While redeeming points this way isn’t advisable, as you won’t get as much value out of each point, you should use them however they suit you best.', 'For example, if you have no travel plans in the foreseeable future but mounting expenses at home, then redeeming your ThankYou points for mortgage or student loan payments might make sense.', 'Here are some additional ways you can redeem your ThankYou points:  Generally speaking, if you’re looking to get the most value out of your Citi ThankYou points, your worst option is when redeeming for a fixed value.', 'However, if you’re willing to sacrifice the value of your points and instead want to save some cash, it could be a solid option.', 'Ultimately, every card holder’s goals for their points will be different, but it’s good that you have options with ThankYou points.', 'Citi ThankYou points are worth about 1.7 cents each when you redeem them for travel through transfer partners, according to frequent flyer website The Points Guy.', 'The exact amount varies depending on the cabin and destination you’re flying to.', 'Generally speaking, you’ll get the most value by redeeming points for international business- and first-class flights.', 'While 1.7 cents per point isn’t guaranteed for all redemptions, it’s a number you should aim for if you want to redeem ThankYou points for maximum value.', 'Aside from travel redemptions, you can use ThankYou points for mortgage payments, student loans, statement credits or charitable contributions, and they’re worth 1 cent apiece.', 'Citi ThankYou points are an incredibly valuable currency and can help you meet your most aspirational travel goals.', 'Whether you’re using points for domestic or international travel, Citi’s wide selection of transfer partners offers terrific redemption value.', 'Between a good credit card selection, top-notch travel partners and flexibility in use, Citi ThankYou points are definitely worth adding to your points portfolio.', 'Looking for a new travel credit card?', 'Check out CNN Underscored’s list of thebest credit cardscurrently available.', 'Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.', 'Note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.']",0.4187524857201869,"Citi has a small but mighty credit card lineup, offering generous welcome bonuses and ongoing rewards.","Authorized users can make charges on the credit card they’ve been added to but have no liability when it comes to paying the bill — that onus falls on you, the primary card holder.",0.8707016060749689,"As mentioned, there are also a number of other traditionalcash back credit cardsin the Citi portfolio that allow you to boost your earnings.",That’s significantly less than the value you’ll get from transfer partner redemptions.,2024-04-24
-EU raids offices of Chinese security equipment maker in subsidy probe,https://edition.cnn.com/2024/04/24/business/eu-china-subsidies-raids/index.html,"
-  Published
-        9:12 AM EDT, Wed April 24, 2024
-    ","European Union officials have raided the offices of a Chinese company as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners.
-    
-            The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies. It did not name the company.
-    
-            “The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website.
-    
-            The China Chamber of Commerce to the EU said Wednesday that it had been informed that a Chinese company was the target of the investigation.
-    
-            The Chinese lobby group, whose members include Chinese state-owned and private firms, expressed its “strong dissatisfaction” about the raids, which it said had been conducted at offices in Poland and the Netherlands “without prior notice and without solid evidence.”
-    
-            “The European side manifested its intention to weaponize the Foreign Subsidies Regulation as a tool to suppress lawfully operating Chinese companies in Europe,” it said in a statement.
-    
-            In response, a spokesperson for the European Commission told CNN that officials carry out unannounced inspections on the basis of “substantiated indications” that the company in question may have been granted “distortive foreign subsidies benefitting its activities in the EU.”
-    
-            “An inspection is an investigative step which never pre-judges the outcome of the commission’s investigation,” the spokesperson added.
-    
-            The raids — the first under the EU’s new powers against excessive foreign subsidies — follow investigations launched recently by the bloc into China’s state support for its wind turbine firms and for Chinese companies bidding for a solar farm contract in Romania.
-    
-            The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.
-    
-            Tuesday’s raids also came on the same day the president of the European Commission said the Group of Seven developed economies was starting work to tackle imports resulting from “structural overproduction” elsewhere, “an overproduction that is achieved to a large extent by subsidies, massive subsidies.”
-    
-            “We have to be very vigilant that our producers are not at risk to be forced out of the market,” Ursula von der Leyen said in a speech.
-    
-            Although she did not mention China, there is growing evidence of tensions between the world’s biggest manufacturer and its major trading partners, including the EU, relating to an oversupply of cheap Chinese goods in foreign markets.
-    
-            “We are engaging with our G7 partners on this topic, given that it is a shared concern,” an EU official told CNN Wednesday, adding that the issue would be discussed at the G7 leaders summit in Puglia, Italy, in June.
-    
-            China’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.
-    
-            On a visit to China earlier this month, US Treasury Secretary Janet Yellen warned of the risk to jobs and businesses in the United States and elsewhere posed by overproduction of certain goods in the world’s second-largest economy. Her message was clear: China’s surging exports of electric vehicles, solar panels and batteries must be reined in.
-    
-            These fears were echoed by G7 foreign ministers at a meeting in Italy last week. “We are concerned that China’s non-market policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience,” they said in a statement.
-    
-            Beijing, for its part, sees exports as a key measure to revive China’s slowing economy. It is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies.",CNN,24/04/2024,"['European Union officials have raided the offices of a Chinese company as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners.', 'The European Commission said Tuesday that it carried out “unannounced inspections” at the premises of a company making and selling security equipment in Europe, which it suspects may have benefited unduly from state subsidies.', 'It did not name the company.', '“The commission has indications that the inspected company may have received foreign subsidies that could distort the (EU’s) internal market,” the EU’s executive body said in a statement on its website.', 'The China Chamber of Commerce to the EU said Wednesday that it had been informed that a Chinese company was the target of the investigation.', 'The Chinese lobby group, whose members include Chinese state-owned and private firms, expressed its “strong dissatisfaction” about the raids, which it said had been conducted at offices in Poland and the Netherlands “without prior notice and without solid evidence.”', '“The European side manifested its intention to weaponize the Foreign Subsidies Regulation as a tool to suppress lawfully operating Chinese companies in Europe,” it said in a statement.', 'In response, a spokesperson for the European Commission told CNN that officials carry out unannounced inspections on the basis of “substantiated indications” that the company in question may have been granted “distortive foreign subsidies benefitting its activities in the EU.”', '“An inspection is an investigative step which never pre-judges the outcome of the commission’s investigation,” the spokesperson added.', 'The raids — the first under the EU’s new powers against excessive foreign subsidies — follow investigations launched recently by the bloc into China’s state support for its wind turbine firms and for Chinese companies bidding for a solar farm contractin Romania.', 'The Foreign Subsidies Regulation, which came into force last July, is aimed at addressing market distortions caused by subsidies from foreign governments and ensuring that EU companies are competing on a level playing field.', 'Tuesday’s raids also came on the same day the president of the European Commission said the Group of Seven developed economies was starting work to tackle imports resulting from “structural overproduction” elsewhere, “an overproduction that is achieved to a large extent by subsidies, massive subsidies.”', '“We have to be very vigilant that our producers are not at risk to be forced out of the market,” Ursula von der Leyen said in a speech.', 'Although she did not mention China, there is growing evidence of tensions between the world’s biggest manufacturer and its major trading partners, including the EU, relating to an oversupply of cheap Chinese goods in foreign markets.', '“We are engaging with our G7 partners on this topic, given that it is a shared concern,” an EU official told CNN Wednesday, adding that the issue would be discussed at the G7 leaders summit in Puglia, Italy, in June.', 'China’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.', 'On a visit to China earlier this month, US Treasury Secretary Janet Yellen warned of the risk to jobs and businesses in the United States and elsewhere posed by overproduction of certain goods in the world’s second-largest economy.', 'Her message was clear: China’s surging exports of electric vehicles, solar panels and batteries must be reined in.', 'These fears were echoed by G7 foreign ministers at a meeting in Italy last week. “', 'We are concerned that China’s non-market policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience,” they said in a statement.', 'Beijing, for its part, sees exports as a key measure to revive China’s slowing economy.', 'It is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies.']",0.0860362788064386,It is increasingly focusing on higher-value exports in industries that Europe and the United States see as strategically important as they seek to green their economies.,"European Union officials have raided the offices of a Chinese company as part of a probe into subsidies, exposing rising tensions between the bloc and one of its biggest trading partners.",-0.4903053566813469,China’s global trade surplus in goods has soared in recent years and is now approaching $1 trillion.,"We are concerned that China’s non-market policies and practices are leading to harmful overcapacity that undermines our workers, industries, and economic resilience,” they said in a statement.",2024-04-24
-FTSE 100 stock index closes at new all-time high,https://www.bbc.co.uk/news/business-68877506,2024-04-22T16:43:23.000Z,"The FTSE 100 stock index of the UK's biggest publicly-listed companies has reached a new record closing price.  The fresh all-time high was driven by a weaker pound and easing tensions in the Middle East. The index closed on Monday at 8,023.87 points to mark the new record, surpassing its previous high of 8,012.53 in February last year. It was up 1.62% at its close, with retailers M&S, Tesco, Sainsbury's and Ocado among the big risers of the day. Shares have benefitted from a weaker pound because the index on the London Stock Exchange has many firms with big footprints overseas.  A weak pound makes goods they export cheaper for foreign buyers and helps inflate the value of business done elsewhere. Rachel Winter, wealth manager at Killik & Co, said: ""The FTSE contains a large number of big international companies that earn their revenue in dollars and report their profits in sterling. ""The strength of the dollar is due to sticky inflation in the US, which means that US interest rates will remain higher for longer."" The pound was down 0.2% at $1.234 as a result, representing sterling's lowest point against the US currency for around five months. Axel Rudolph, senior market analyst at IG, said the ""de-escalation in the Middle East"" also played its part to propel the FTSE 100 to its new record.  The index has been steadily ticking upwards in recent weeks on hopes the Bank of England will cut interest rates as inflation falls steadily back down to the central bank's 2% target rate. By making borrowing less expensive, lower interest rates discourage saving and can increase borrowing for home purchases and business investments, helping to breathe life back into the economy. It would be the first cut since March 2020. Dan Coatsworth, investment analyst at AJ Bell, said: ""The Bank of England is now expected to start cutting rates before the US Federal Reserve sharpens its knife and that's led to divergent fortunes for the respective currencies."" He added that the ""favourite items on the menu to fill portfolios"" included Marks & Spencer, which was the recipient of a positive broker note, alongside Next and Sainsbury's. ""All three saw their ratings lifted from 'hold' to 'buy' as part of a review of the broader retail sector,"" he said. ",BBC,22/04/2024,"[""The FTSE 100 stock index of the UK's biggest publicly-listed companies has reached a new record closing price."", 'The fresh all-time high was driven by a weaker pound and easing tensions in the Middle East.', 'The index closed on Monday at 8,023.87 points to mark the new record, surpassing its previous high of 8,012.53 in February last year.', ""It was up 1.62% at its close, with retailers M&S, Tesco, Sainsbury's and Ocado among the big risers of the day."", 'Shares have benefitted from a weaker pound because the index on the London Stock Exchange has many firms with big footprints overseas.', 'A weak pound makes goods they export cheaper for foreign buyers and helps inflate the value of business done elsewhere.', 'Rachel Winter, wealth manager at Killik & Co, said: ""The FTSE contains a large number of big international companies that earn their revenue in dollars and report their profits in sterling. ""', 'The strength of the dollar is due to sticky inflation in the US, which means that US interest rates will remain higher for longer.""', ""The pound was down 0.2% at $1.234 as a result, representing sterling's lowest point against the US currency for around five months."", 'Axel Rudolph, senior market analyst at IG, said the ""de-escalation in the Middle East"" also played its part to propel the FTSE 100 to its new record.', ""The index has been steadily ticking upwards in recent weeks on hopes the Bank of England will cut interest rates as inflation falls steadily back down to the central bank's 2% target rate."", 'By making borrowing less expensive, lower interest rates discourage saving and can increase borrowing for home purchases and business investments, helping to breathe life back into the economy.', 'It would be the first cut since March 2020.', 'Dan Coatsworth, investment analyst at AJ Bell, said: ""The Bank of England is now expected to start cutting rates before the US Federal Reserve sharpens its knife and that\'s led to divergent fortunes for the respective currencies.""', 'He added that the ""favourite items on the menu to fill portfolios"" included Marks & Spencer, which was the recipient of a positive broker note, alongside Next and Sainsbury\'s. ""', 'All three saw their ratings lifted from \'hold\' to \'buy\' as part of a review of the broader retail sector,"" he said.']",0.2087708204931099,"Rachel Winter, wealth manager at Killik & Co, said: ""The FTSE contains a large number of big international companies that earn their revenue in dollars and report their profits in sterling. ""","The pound was down 0.2% at $1.234 as a result, representing sterling's lowest point against the US currency for around five months.",0.7135799314294543,"It was up 1.62% at its close, with retailers M&S, Tesco, Sainsbury's and Ocado among the big risers of the day.","The pound was down 0.2% at $1.234 as a result, representing sterling's lowest point against the US currency for around five months.",2024-04-24
-"Express files for bankruptcy, plans to close nearly 100 stores as investor group looks to save the brand",https://www.cnbc.com/2024/04/22/express-files-for-bankruptcy-plans-to-close-nearly-100-stores.html,2024-04-22T21:47:14+0000,"In this articleLongtime mall retailer Express filed for Chapter 11 bankruptcy protection in Delaware federal court on Monday, but a group of investors led by brand management firm WHP Global is looking to save the company by acquiring it. Express, whose portfolio includes its namesake banner, Bonobos and UpWest, said it will close 95 of its eponymous shops and all of its UpWest doors. As of last January, the company had 553 total stores, according to company securities filings. It's not clear how many of those were UpWest stores, but the brand's website shows that it has 10 locations.Closing sales are expected to begin Tuesday. The company said hours for remaining stores won't change and it will continue to accept orders and returns as usual.In a news release, Express said it filed for bankruptcy to ""facilitate"" a sale process of most of its retail stores and operations to the investor group, which includes WHP, Simon Property Group and Brookfield Properties. It received a nonbinding letter of intent from the investors to buy the assets, and has also secured $35 million in new financing from some of its existing lenders, subject to court approval. ""The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company's stakeholders,"" Express said. Express also secured $49 million in cash from the IRS related to the CARES Act – a critical influx of liquidity that the company had been waiting on to shore up its balance sheet. ""We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,"" CEO Stewart Glendinning said in a statement. ""We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives,"" he added.The business casual apparel brand, founded in 1980 by Les Wexner's Limited Brands, has seen sales plummet over the last few years as debt and costly mall leases dragged down its business. In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.Earlier this month, CNBC reported that Express was struggling to pay its vendors on time, indicating it was in financial distress and struggling to manage cash flows. When retailers can't pay their vendors, suppliers sometimes tighten payment terms or refuse to fulfill orders, which can further pressure a company's liquidity.Last spring, Express acquired Bonobos' operating assets and related liabilities for $25 million from Walmart in a joint deal with WHP. The deal came as Express' ""core business was weak, and cash was tight,"" GlobalData managing director Neil Saunders said in a Monday note.Still, its biggest problem was declining revenue, which has fallen by about 10% since 2019, Saunders said. ""This stands in marked contrast to an apparel sector that has grown strongly over the same period. This has put the company under a lot of financial strain and has resulted in some significant losses. None of this is sustainable which is one of the reasons for bankruptcy,"" said Saunders.  ""The woes at Express are not all of its own making,"" he said. ""The formal and smart casual market for both men and women has softened over recent years because of a rise from working from home and the casualization of fashion. This puts Express firmly on the wrong side of trends and, in our view, the chain made too little effort to adapt.""Bankruptcy will provide some key relief to Express and help it get back on stronger footing as it works to implement its turnaround strategy. It'll allow the retailer to get out of costly and burdensome leases, many of which are in struggling malls, and has made the company more attractive to buyers. Powerhouse law firm Kirkland & Ellis, which led Bed Bath & Beyond and many other failed retailers through their bankruptcies, is serving as Express' legal counsel. Moelis & Co. has been tapped as its investment banker and M3 Partners has signed on as its financial advisor.",CNBC,22/04/2024,"['In this articleLongtime mall retailer Express filed for Chapter 11 bankruptcy protection in Delaware federal court on Monday, but a group of investors led by brand management firm WHP Global is looking to save the company by acquiring it.', 'Express, whose portfolio includes its namesake banner, Bonobos and UpWest, said it will close 95 of its eponymous shops and all of its UpWest doors.', 'As of last January, the company had 553 total stores, according to company securities filings.', ""It's not clear how many of those were UpWest stores, but the brand's website shows that it has 10 locations."", 'Closing sales are expected to begin Tuesday.', ""The company said hours for remaining stores won't change and it will continue to accept orders and returns as usual."", 'In a news release, Express said it filed for bankruptcy to ""facilitate"" a sale process of most of itsretail stores and operations to the investor group, which includes WHP, Simon Property Group and Brookfield Properties.', 'It received a nonbinding letter of intent from the investors to buy the assets, and has also secured $35 million in new financing from some of its existing lenders, subject to court approval.', '""The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company\'s stakeholders,"" Express said.', 'Express also secured $49 million in cash from the IRS related to the CARES Act – a critical influx of liquidity that the company had been waiting on to shore up its balance sheet.', '""We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,"" CEO Stewart Glendinning said in a statement.', '""We are taking an important step that will strengthen our financial position and enable Express to continue advancing our business initiatives,"" he added.', ""The business casual apparel brand, founded in 1980 by Les Wexner's Limited Brands, has seen sales plummet over the last few years as debt and costly mall leases dragged down its business."", 'In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.Earlier this month, CNBC reported that Express was struggling to pay its vendors on time, indicating it was in financial distress and struggling to manage cash flows.', ""When retailers can't pay their vendors, suppliers sometimes tighten payment terms or refuse to fulfill orders, which can further pressure a company's liquidity."", ""Last spring, Express acquired Bonobos' operating assets and related liabilities for $25 million from Walmart in a joint deal with WHP."", 'The deal came as Express\' ""core business was weak, and cash was tight,"" GlobalData managing director Neil Saunders said in a Monday note.', 'Still, its biggest problem was declining revenue, which has fallen by about 10% since 2019, Saunders said.', '""This stands in marked contrast to an apparel sector that has grown strongly over the same period.', 'This has put the company under a lot of financial strain and has resulted in some significant losses.', 'None of this is sustainable which is one of the reasons for bankruptcy,"" said Saunders.', '""The woes at Express are not all of its own making,"" he said. ""', 'The formal and smart casual market for both men and women has softened over recent years because of a rise from working from home and the casualization of fashion.', 'This puts Express firmly on the wrong side of trends and, in our view, the chain made too little effort to adapt.', '""Bankruptcy will provide some key relief to Express and help it get back on stronger footing as it works to implement its turnaround strategy.', ""It'll allow the retailer to get out of costly and burdensome leases, many of which are in struggling malls, and has made the company more attractive to buyers."", ""Powerhouse law firm Kirkland & Ellis, which led Bed Bath & Beyond and many other failed retailers through their bankruptcies, is serving as Express' legal counsel."", 'Moelis & Co. has been tapped as its investment banker and M3 Partners has signed on as its financial advisor.']",0.0656388570655413,"""The proposed transaction will provide Express with additional financial resources, better position the business for profitable growth and maximize value for the Company's stakeholders,"" Express said.","In a court filing, Express said that it had $1.3 billion in total assets and $1.2 billion in total debts as of March 2.Earlier this month, CNBC reported that Express was struggling to pay its vendors on time, indicating it was in financial distress and struggling to manage cash flows.",0.0611145741799298,"""We continue to make meaningful progress refining our product assortments, driving demand, connecting with customers and strengthening our operations,"" CEO Stewart Glendinning said in a statement.","The business casual apparel brand, founded in 1980 by Les Wexner's Limited Brands, has seen sales plummet over the last few years as debt and costly mall leases dragged down its business.",2024-04-24
-General Motors raises 2024 guidance after big first-quarter earnings beat,https://www.cnbc.com/2024/04/23/general-motors-gm-earnings-q1-2024.html,2024-04-23T20:07:30+0000,"In this articleDETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street's top- and bottom-line expectations for the first quarter.The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter. The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.GM shares jumped more than 4% Tuesday following the report. Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:GM said revenue during the first three months of this year was up 7.6% from roughly $40 billion a year earlier. Its net income during the first quarter rose about 26% to $2.95 billion.The automaker's net income attributable to stockholders, which excludes some dividend payouts, was up 24.4% to $2.98 billion, or $2.56 per share, from the first quarter of 2023 when the company reported net income attributable to stockholders of about $2.4 billion, or $1.69 a share. The automaker's adjusted earnings before interest and taxes were $3.87 billion, or $2.62 per share, during the first quarter. GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said.  The division increased adjusted earnings during the quarter to $3.84 billion, up 7.4% from a year earlier.Steady vehicle pricing and increased retail sales in North America also helped GM achieve a 10.6% adjusted profit margin in the region for the period – above its previously announced 8% to 10% range for the year.GM CFO Paul Jacobson said prices for the automaker's vehicles were roughly flat to slightly lower due to vehicle mix during the quarter, but not down as much as the 2% to 2.5% decline the company anticipated for the year.""Our consumer has been remarkably resilient in this period of higher interest rates,"" Jacobson told reporters during a briefing. ""We think in this environment that we can continue to perform.""GM's financing arm reported adjusted earnings of $737 million during the first quarter, down 4.4% from a year earlier.The company's North America results helped to offset losses of $106 million in China and $10 million in other international markets during the first three months of the year.When asked Tuesday about potentially exiting the Chinese market, GM CEO Mary Barra said during the company's earnings call the automaker ""remains committed"" to the region.The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand.Jacobson, however, noted GM's loss in China was ""slightly better"" than the company had previously forecast.GM specifically noted that sales of its highly profitable pickups remain strong, while production of its all-electric vehicles continues to ramp up following bottlenecks in production, particularly with battery modules.""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.Jacobson said the company still plans to produce between 200,000 and 300,000 EVs during 2024.While North America continues to be strong for the automaker, vehicle inventory levels in the U.S. are rising. The company ended the first quarter with a 63 days' supply of vehicles – above the automaker's previous guidance of 50 days to 60 days.Jacobson said the company is watching those levels but is not too concerned about the number of vehicles ahead of a spring and summer selling season that includes some factory shutdowns for retooling.""We actually feel pretty good about where we are,"" he said. ""It's something that obviously we're watching. But right now, no signs of any softness that we can see.""Regarding GM's embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.Barra said the automaker is evaluating how to the fund Cruise, of which GM owns more than 80%, moving forward, including potentially accepting additional outside investments.Correction: This story has to been updated to correct that General Motors plans to produce between 200,000 and 300,000 EVs during 2024.",CNBC,23/04/2024,"[""In this articleDETROIT — General Motors on Tuesday raised its 2024 guidance after beating Wall Street's top- and bottom-line expectations for the first quarter."", 'The automaker said it was boosting its forecast after strong North American operations offset losses elsewhere during the first quarter.', 'The company now expects adjusted earnings of $12.5 billion to $14.5 billion, or $9 to $10 a share, up from a previous range of $12 billion to $14 billion, or $8.50 to $9.50 a share.', 'GM also raised expectations for adjusted automotive free cash flow to a range of $8.5 billion to $10.5 billion, up from an earlier forecast of $8 billion to $10 billion.', 'GM shares jumped more than 4% Tuesday following the report.', ""Here's how the company performed in the first quarter, compared with average estimates compiled by LSEG:GM said revenue during the first three months of this year was up 7.6% from roughly $40 billion a year earlier."", 'Its net income during the first quarter rose about 26% to $2.95 billion.', ""The automaker's net income attributable to stockholders, which excludes some dividend payouts, was up 24.4% to $2.98 billion, or $2.56 per share, from the first quarter of 2023 when the company reported net income attributable to stockholders of about $2.4 billion, or $1.69 a share."", ""The automaker's adjusted earnings before interest and taxes were $3.87 billion, or $2.62 per share, during the first quarter."", ""GM's North American operations, driven by truck sales, were largely responsible for the company's first-quarter beat and guidance raise, the automaker said."", 'The division increased adjusted earnings during the quarter to $3.84 billion, up 7.4% from a year earlier.', 'Steady vehicle pricing and increased retail sales in North America also helped GM achieve a 10.6% adjusted profit margin in the region for the period – above its previously announced 8% to 10% range for the year.', ""GM CFO Paul Jacobson said prices for the automaker's vehicles were roughly flat to slightly lower due to vehicle mix during the quarter, but not down as much as the 2% to 2.5% decline the company anticipated for the year."", '""Our consumer has been remarkably resilient in this period of higher interest rates,"" Jacobson told reporters during a briefing. ""', 'We think in this environment that we can continue to perform.', '""GM\'s financing arm reported adjusted earnings of $737 million during the first quarter, down 4.4% from a year earlier.', ""The company's North America results helped to offset losses of $106 million in China and $10 million in other international markets during the first three months of the year."", 'When asked Tuesday about potentially exiting the Chinese market, GM CEO Mary Barra said during the company\'s earnings call the automaker ""remains committed"" to the region.', ""The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand."", 'Jacobson, however, noted GM\'s loss in China was ""slightly better"" than the company had previously forecast.', 'GM specifically noted that sales of its highly profitable pickups remain strong, while production of its all-electric vehicles continues to ramp up following bottlenecks in production, particularly with battery modules.', '""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.', 'Jacobson said the company still plans to produce between 200,000 and 300,000 EVs during 2024.While North America continues to be strong for the automaker, vehicle inventory levels in the U.S. are rising.', ""The company ended the first quarter with a 63 days' supply of vehicles – above the automaker's previous guidance of 50 days to 60 days."", 'Jacobson said the company is watching those levels but is not too concerned about the number of vehicles ahead of a spring and summer selling season that includes some factory shutdowns for retooling.', '""We actually feel pretty good about where we are,"" he said. ""', ""It's something that obviously we're watching."", 'But right now, no signs of any softness that we can see.', '""Regarding GM\'s embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.', 'Barra said the automaker is evaluating how to the fund Cruise, of which GM owns more than 80%, moving forward, including potentially accepting additional outside investments.', 'Correction: This story has to been updated to correct that General Motors plans to produce between 200,000 and 300,000 EVs during 2024.']",0.204808735023361,"""As we continue to strengthen our [internal combustion engine] portfolio, scale EVs and reinvest in the business, we are very focused on capital efficiency, enhancing profitability and free cash flow, and we will continue to take steps to create shareholder value,"" Barra said in a letter to shareholders.","""Regarding GM's embattled Cruise autonomous vehicle unit, Jacobson said Tuesday the company expects to spend $1.7 billion on the operations this year as it relaunches operations following an October accident involving a pedestrian.",0.8176416863094677,Its net income during the first quarter rose about 26% to $2.95 billion.,"The question, which would have been unfathomable just a few years ago, comes after GM China's earnings fell from billions of dollars annually during the mid-2010s to the quarterly loss amid increased competition and shifting consumer demand.",2024-04-24
-FAA will require more rest time for air traffic controllers amid fatigue concerns,https://www.cnbc.com/2024/04/19/faa-will-require-more-rest-time-for-air-traffic-controllers.html,2024-04-19T16:37:14+0000,"The head of the Federal Aviation Administration on Friday said the agency will increase the required amount of rest time for air traffic controllers in response to concerns over fatigue amid a staffing shortage.The changes, which would take effect within 90 days, would require controllers to have at least 10 hours of rest between shifts, up from nine hours, and 12 hours of rest before an overnight shift.""In my first few months at the helm of the FAA, I toured air traffic control facilities around the country — and heard concerns about schedules that do not always allow controllers to get enough rest,"" FAA Administrator Mike Whitaker said in a statement. ""With the safety of our controllers and national airspace always top of mind for FAA, I took this very seriously — and we're taking action.""The changes come as pressure on the FAA grows to improve air travel safety amid a spate of close calls at airports, as well as mechanical problems at some airlines and production problems at Boeing.A shortfall of air traffic controllers, made worse by a pause in hiring during the Covid-19 pandemic, has led to forced overtime and packed schedules for staff at some facilities. The agency hired 1,500 controllers last year and plans to hire 1,800 this year. Air traffic controllers in the U.S. are required to retire at age 56.The announcement came alongside an FAA-ordered report on air traffic controller fatigue, which recommended the new rest requirements.",CNBC,19/04/2024,"['The head of the Federal Aviation Administration on Friday said the agency will increase the required amount of rest time for air traffic controllers in response to concerns over fatigue amid a staffing shortage.', 'The changes, which would take effect within 90 days, would require controllers to have at least 10 hours of rest between shifts, up from nine hours, and 12 hours of rest before an overnight shift.', '""In my first few months at the helm of the FAA, I toured air traffic control facilities around the country — and heard concerns about schedules that do not always allow controllers to get enough rest,"" FAA Administrator Mike Whitaker said in a statement. ""', ""With the safety of our controllers and national airspace always top of mind for FAA, I took this very seriously — and we're taking action."", '""The changes come as pressure on the FAA grows to improve air travel safety amid a spate of close calls at airports, as well as mechanical problems at some airlines and production problems at Boeing.', 'A shortfall of air traffic controllers, made worse by a pause in hiring during the Covid-19 pandemic, has led to forced overtime and packed schedules for staff at some facilities.', 'The agency hired 1,500 controllers last year and plans to hire 1,800 this year.', 'Air traffic controllers in the U.S. are required to retire at age 56.The announcement came alongside an FAA-ordered report on air traffic controller fatigue, which recommended the new rest requirements.']",-0.0863789544275864,"With the safety of our controllers and national airspace always top of mind for FAA, I took this very seriously — and we're taking action.","A shortfall of air traffic controllers, made worse by a pause in hiring during the Covid-19 pandemic, has led to forced overtime and packed schedules for staff at some facilities.",0.0004630982875823,"""The changes come as pressure on the FAA grows to improve air travel safety amid a spate of close calls at airports, as well as mechanical problems at some airlines and production problems at Boeing.","A shortfall of air traffic controllers, made worse by a pause in hiring during the Covid-19 pandemic, has led to forced overtime and packed schedules for staff at some facilities.",2024-04-24
-"Drone startup Zipline hits 1 million deliveries, looks to restaurants as it continues to grow",https://www.cnbc.com/2024/04/19/autonomous-drone-startup-zipline-hits-1-million-deliveries.html,2024-04-19T17:40:36+0000,"Autonomous delivery drone startup Zipline said Friday that it hit its 1 millionth delivery to customers and that it's eyeing restaurant partnerships in its next phase of growth.The San Francisco-based startup designs, builds and operates autonomous delivery drones, working with clients that range from more than 4,700 hospitals, including the Cleveland Clinic, to major brands such as Walmart and GNC. It's raised more than $500 million so far from investors including Sequoia Capital, a16z and Google Ventures. Zipline is also a CNBC Disruptor 50 company.The company said its zero-emission drones have now flown more than 70 million autonomous commercial miles across four continents and delivered more than 10 million products.The milestone 1 millionth delivery carried two bags of IV fluid from a Zipline distribution center in Ghana to a local health facility.As the company continues to expand, it will bring on Panera Bread in Seattle, Memorial Hermann Health System in Houston, and Jet's Pizza in Detroit.Zipline CEO Keller Rinaudo Cliffton told CNBC that 70% of the company's deliveries have happened in the past two years and, in the future, the goal is to do 1 million deliveries a day.""The three areas where the incentive really makes the most sense today are health care, quick commerce and food, and those are the three main markets that we focus on,"" Rinaudo Cliffton said. ""Our goal is to work with really the best brands or the best institutions in each of those markets.""The push into restaurant partnerships marks an ""obvious transition"" he said, due to the continuing growth in interest in instant food delivery. Zipline already delivers food from Walmart to customers.""We need to start using vehicles that are light, fast, autonomous and zero-emission,"" Rinaudo Cliffton said. ""Delivering in this way is 10 times as fast, it's less expensive … and relative to the traditional delivery apps that most restaurants will be working with, we triple the service radius, which means you actually [get] 10 times the number of customers who are reachable via instant delivery.""Zipline deliveries for some Panera locations in Seattle are expected to begin next year, the Panera franchisee's Chief Operating Officer Ron Bellamy told CNBC. Delivery continues to grow for its business, even in an inflationary environment, he said. Costs with Zipline are anticipated to be on par with what third-party delivery is now, he added, with the hope of that cost lowering over time. ""I'm encouraged about it, not just even in terms of what I can do for the business, but as a consumer, I think at the end of the day, if it is economical, and it delivers a better overall experience, then the consumer will speak,"" Bellamy said.",CNBC,19/04/2024,"[""Autonomous delivery drone startup Zipline said Friday that it hit its 1 millionth delivery to customers and that it's eyeing restaurant partnerships in its next phase of growth."", 'The San Francisco-based startup designs, builds and operates autonomous delivery drones, working with clients that range from more than 4,700 hospitals, including the Cleveland Clinic, to major brands such as Walmart and GNC.', ""It's raised more than $500 million so far from investors including Sequoia Capital, a16z and Google Ventures."", 'Zipline is also a CNBC Disruptor 50 company.', 'The company said its zero-emission drones have now flown more than 70 million autonomous commercial miles across four continents and delivered more than 10 million products.', 'The milestone 1 millionth delivery carried two bags of IV fluid from a Zipline distribution center in Ghana to a local health facility.', ""As the company continues to expand, it will bring on Panera Bread in Seattle, Memorial Hermann Health System in Houston, and Jet's Pizza in Detroit."", ""Zipline CEO Keller Rinaudo Cliffton told CNBC that 70% of the company's deliveries have happened in the past two years and, in the future, the goal is to do 1 million deliveries a day."", '""The three areas where the incentive really makes the most sense today are health care, quick commerce and food, and those are the three main markets that we focus on,"" Rinaudo Cliffton said. ""', 'Our goal is to work with really the best brands or the best institutions in each of those markets.', '""The push into restaurant partnerships marks an ""obvious transition"" he said, due to the continuing growth in interest in instant food delivery.', 'Zipline already delivers food from Walmart to customers.', '""We need to start using vehicles that are light, fast, autonomous and zero-emission,"" Rinaudo Cliffton said. ""', ""Delivering in this way is 10 times as fast, it's less expensive … and relative to the traditional delivery apps that most restaurants will be working with, we triple the service radius, which means you actually [get] 10 times the number of customers who are reachable via instant delivery."", '""Zipline deliveries for some Panera locations in Seattle are expected to begin next year, the Panera franchisee\'s Chief Operating Officer Ron Bellamy told CNBC.', 'Delivery continues to grow for its business, even in an inflationary environment, he said.', 'Costs with Zipline are anticipated to be on par with what third-party delivery is now, he added, with the hope of that cost lowering over time.', '""I\'m encouraged about it, not just even in terms of what I can do for the business, but as a consumer, I think at the end of the day, if it is economical, and it delivers a better overall experience, then the consumer will speak,"" Bellamy said.']",0.2362280955730237,Our goal is to work with really the best brands or the best institutions in each of those markets.,,0.9074269618306842,"Delivery continues to grow for its business, even in an inflationary environment, he said.",,2024-04-24
-"NBC cut ties with Ronna McDaniel after extraordinary pressure, but its problems aren’t over",https://edition.cnn.com/2024/03/27/media/nbc-ronna-mcdaniel-problems-are-not-over/index.html,"
-  Updated
-        8:16 AM EDT, Wed March 27, 2024
-    ","Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role. But for the leadership at NBC Universal News Group, those were 80 painful hours.
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-            On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”
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-            “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”
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-            Conde had no real choice. The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel. The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.
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-            “What a sh*t show!” a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.
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-            In his note, Conde said he took “full responsibility” for McDaniel’s hire. But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.” Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.
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-            Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent. As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”
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-            “Has Cesar lost the room?” wondered a third media executive.
-    
-            While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess. Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.
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-            “These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.
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-            Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong. Good. Let NBC be for Democrats only.”
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-            Of course, that narrative is intellectually dishonest. The objection to McDaniel from both within and outside of NBCU was not that she is a Republican. It wasn’t even that she was a Trump-supporting Republican. No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote. And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.
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-            Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come. As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.
-    
-            NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter. The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told. Instead, McDaniel learned of her ouster in press reports.
-    
-            While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars. Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.
-    
-            “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,27/03/2024,"['Only 80 hours elapsed between NBC News announcing Ronna McDaniel as a paid contributor and the network ousting her from that very role.', 'But for the leadership at NBC Universal News Group, those were 80painful hours.', 'On Tuesday evening, following another full day in which the media rumor mill churned at warp speed, NBCU News Group boss Cesar Conde sent staff a memo, notifying his troops that he had reversed his decision to welcome the former Republican National Committee chair to “the team.”', '“After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor,” Conde said, adding that he wanted to “personally apologize to our team members who felt we let them down.”', 'Conde had no real choice.', 'The embattled NBCU boss, who I’m told dealt with the crisis from an unknown location outside of 30 Rock, was facing an unprecedented rebellion from his most high-profile stars, who one by one went on the air and excoriated leadership’s decision to hire McDaniel.', 'The only aspect of Conde’s note that was surprising was the fact that it came 48 hours late, allowing what started off as a crisis to fester and balloon into one of the worst corporate public relations calamities in recent memory.', '“What a sh*t show!”', 'a media executive exclaimed to me Tuesday shortly after Conde relieved McDaniel of her NBC News credentials.', 'In his note, Conde said he took “full responsibility” for McDaniel’s hire.', 'But, he also did point the finger, telling staffers that hiring her was “a collective recommendation by some members of our leadership team.”', 'Indeed, multiple people familiar with the matter have told me that the infighting among NBC executives over who was at fault for the disaster has reached a fever pitch, with various factions of the NBCU News Group assigning blame to others.', 'Regardless of who is to blame, the entire affair made clear who is actually in control of the company — and it’s not Conde & Co. Despite the NBCU C-suite digging their heels in the sand as they resisted dumping McDaniel for days, they were ultimately forced to succumb to pressure from their talent.', 'As a second media executive commented to me, it is now “very clear who is in charge” after the “weak leadership was put on full display.”', '“Has Cesar lost the room?”', 'wondered a third media executive.', 'While the Peacock family argues over who was really at fault, the company is facing a fresh public relations mess.', 'Led by Donald Trump, right-wing personalities are already assailing the network as being overrun with intolerant woke leftists.', '“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.', 'Ari Fleischer, who served as press secretary under President George W. Bush, wrote on X: “What NBC is saying is if you’re for Trump, you don’t belong.', 'Good.', 'Let NBC be for Democrats only.”', 'Of course, that narrative is intellectually dishonest.', 'The objection to McDaniel from both within and outside of NBCU was not that she is a Republican.', 'It wasn’t even that she was a Trump-supporting Republican.', 'No, the objection stemmed from the fact that McDaniel was an active participant in the plot to subvert the 2020 vote.', 'And, in addition to that disgraceful history, she had a lengthy track record smearing NBC News and MSNBC.', 'Nevertheless, NBCU will now have to contend with such dishonest attacks being leveled by the right, which will follow them in the days, months, and even years to come.', 'As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.', 'NBCU will also have to grapple with McDaniel, who spent the last 24 hours or so interviewing lawyers as she gears up for a possible legal fight with the network, according to a person familiar with the matter.', 'The rift between McDaniel and NBCU had grown to such an extent by Tuesday that she was not informed by network brass that she had been dismissed, I’m told.', 'Instead, McDaniel learned of her ouster in press reports.', 'While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.', 'Shortly after Conde sent out his memo, Rachel Maddow appeared on Joy Reid’s show, where the two lauded Conde for reversing course.', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0743400881523301,"“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “","“These Radical Left Lunatics are CRAZY and the top people at NBC ARE WEAK,” Trump raged on his Truth Social platform.",-0.3914040706374428,"While NBCU is being beaten up on the right, the company’s leadership was quickly praised by its journalists and top stars.","As unfair as it may be, they will certainly damage the network’s brand in Republican circles — a place it had gone through great pains to appeal to.",2024-04-24
-Ford tops first-quarter earnings estimates as commercial unit offsets EV losses,https://www.cnbc.com/2024/04/24/ford-f-earnings-q1-2024.html,2024-04-24T21:50:43+0000,"In this articleDETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter, offsetting losses of its electric vehicles.The company maintained its 2024 earnings guidance of adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion. It slightly lowered capital expenditure expectations and raised its adjusted free cash flow outlook for the year.The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion. Its forecast for capital expenditures is now $8 billion to $9 billion, narrower than the $8 billion to $9.5 billion range it originally estimated.Ford Chief Financial Officer John Lawler on Wednesday described the quarter as ""solid,"" with the company tracking to the higher end of its previously announced guidance.While the automaker beat earnings estimates, it slightly missed on automotive revenue. Here are the results for Ford's first quarter, compared with Wall Street expectations, according to LSEG:Ford's overall revenue for the first quarter, including its credit business, increased about 3% year over year to $42.78 billion.Net income for the period was $1.33 billion, or 33 cents per share, compared with $1.76 billion, or 44 cents, a year earlier. Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.Ford's traditional business, known as Ford Blue, reported adjusted earnings that were down 66% compared to a year earlier to $905 million. Its Ford Pro commercial business earned $3.01 billion, up 120% from the first quarter of last year. Ford's Model e electric vehicle unit posted a $1.32 billion loss from January through March.The notable decline in Ford Blue was related to the launch of the company's refreshed F-150 pickup, which it held shipments of during most of the quarter to address undisclosed quality issues.Ford CEO Jim Farley said the company avoided ""about 12 recalls"" thanks to the additional quality checks during the stop-shipment, helping to lower warranty costs for the company.""What we're going to see long-term is less recalls and lower warranty costs because of this new process,"" Farley said Wednesday during the company's first-quarter earnings call. ""I'm really proud of the team's progress and quality and we have so much more to do.""Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings. The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.Ford previously said it assembled 144,000 of the F-150 full-size and Ranger midsize pickups during the first quarter of the year. Those vehicles began shipping to dealers and customers earlier this month. Roughly 92% of the pickups built were F-150s.As part of its 2024 guidance, first released in February, Ford said it expected its EV business to lose between $5 billion and $5.5 billion this year. Ford Blue earnings were expected to be roughly flat at $7 billion to $7.5 billion for 2024, while Ford Pro was expected to come in around $8 billion to $9 billion for the full year.Lawler said Ford remains on track this year to take $2 billion in costs out of the business through reductions in things such as materials, freight and manufacturing. He said much of those savings will occur during the second half of the year.Ford's first-quarter earnings come a day after its crosstown rival General Motors reported strong first-quarter results and raised its full-year guidance.— CNBC's Michael Bloom contributed to this report.",CNBC,24/04/2024,"[""In this articleDETROIT — Sales of Ford Motor trucks and other commercial vehicles led the automaker to beat Wall Street's earnings estimates for the first quarter, offsetting losses of its electric vehicles."", 'The company maintained its 2024 earnings guidance of adjusted earnings before interest and taxes, or EBIT, of between $10 billion and $12 billion.', 'It slightly lowered capital expenditure expectations and raised its adjusted free cash flow outlook for the year.', 'The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion.', 'Its forecast for capital expenditures is now $8 billion to $9 billion, narrower than the $8 billion to $9.5 billion range it originally estimated.', 'Ford Chief Financial Officer John Lawler on Wednesday described the quarter as ""solid,"" with the company tracking to the higher end of its previously announced guidance.', 'While the automaker beat earnings estimates, it slightly missed on automotive revenue.', ""Here are the results for Ford's first quarter, compared with Wall Street expectations, according to LSEG:Ford's overall revenue for the first quarter, including its credit business, increased about 3% year over year to $42.78 billion."", 'Net income for the period was $1.33 billion, or 33 cents per share, compared with $1.76 billion, or 44 cents, a year earlier.', 'Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.', ""Ford's traditional business, known as Ford Blue, reported adjusted earnings that were down 66% compared to a year earlier to $905 million."", 'Its Ford Pro commercial business earned $3.01 billion, up 120% from the first quarter of last year.', ""Ford's Model e electric vehicle unit posted a $1.32 billion loss from January through March."", ""The notable decline in Ford Blue was related to the launch of the company's refreshed F-150 pickup, which it held shipments of during most of the quarter to address undisclosed quality issues."", 'Ford CEO Jim Farley said the company avoided ""about 12 recalls"" thanks to the additional quality checks during the stop-shipment, helping to lower warranty costs for the company.', '""What we\'re going to see long-term is less recalls and lower warranty costs because of this new process,"" Farley said Wednesday during the company\'s first-quarter earnings call. ""', ""I'm really proud of the team's progress and quality and we have so much more to do."", '""Ford has faced years of inflated warranty costs, including $1.9 billion in 2023, which have affected its earnings.', 'The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.', 'Ford previously said it assembled 144,000 of the F-150 full-size and Ranger midsize pickups during the first quarter of the year.', 'Those vehicles began shipping to dealers and customers earlier this month.', 'Roughly 92% ofthe pickups builtwere F-150s.', 'As part of its 2024 guidance, first released in February, Ford said it expected its EV business to lose between $5 billion and $5.5 billion this year.', 'Ford Blue earnings were expected to be roughly flat at $7 billion to $7.5 billion for 2024, while Ford Pro was expected to come in around $8 billion to $9 billion for the full year.', 'Lawler said Ford remains on track this year to take $2 billion in costs out of the business through reductions in things such as materials, freight and manufacturing.', 'He said much of those savings will occur during the second half of the year.', ""Ford's first-quarter earnings come a day after its crosstown rival General Motors reported strong first-quarter results and raised its full-year guidance.—"", ""CNBC's Michael Bloom contributed to this report.""]",0.0596242489508853,I'm really proud of the team's progress and quality and we have so much more to do.,"The company last year said it has a $7 billion to $8 billion annual disadvantage compared to traditional rivals due to production costs, quality issues and other operational inefficiencies.",0.0452342525772426,"The automaker now expects to generate adjusted free cash flow of $6.5 billion to $7.5 billion, up from a previous outlook of $6 billion to $7 billion.","Adjusted EBIT declined 18% year over year to $2.76 billion, or 49 cents per share.",2024-04-24
-Ex-JetBlue CEO Robin Hayes to run Airbus North America,https://www.cnbc.com/2024/04/22/ex-jetblue-ceo-robin-hayes-to-run-airbus-north-america-.html,2024-04-22T16:26:34+0000,"Former JetBlue Airways CEO Robin Hayes will run Airbus' North America arm, replacing Jeffrey Knittel, the airplane maker said Monday.Hayes left JetBlue in February after the airline's planned acquisition of Spirit Airlines fell apart following a federal judge's decision to block the deal in an antitrust lawsuit brought by the Justice Department.Hayes, a longtime airline executive who has also held senior leadership roles at British Airways, will start in June. He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama. It has customers including Delta Air Lines, his former employer JetBlue and the carrier's acquisition target Spirit.When Hayes announced his departure from JetBlue in January, he said, ""Extraordinary challenges and pressure of this job have taken their toll, and on the advice of my doctor and after talking to my wife, it's time I put more focus on my health and well-being.""",CNBC,22/04/2024,"[""Former JetBlue Airways CEO Robin Hayes will run Airbus' North America arm, replacing Jeffrey Knittel, the airplane maker said Monday."", ""Hayes left JetBlue in February after the airline's planned acquisition of Spirit Airlines fell apart following a federal judge's decision to block the deal in an antitrust lawsuit brought by the Justice Department."", 'Hayes, a longtime airline executive who has also held senior leadership roles at British Airways, will start in June.', ""He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama."", ""It has customers including Delta Air Lines, his former employer JetBlue and the carrier's acquisition target Spirit."", 'When Hayes announced his departure from JetBlue in January, he said, ""Extraordinary challenges and pressure of this job have taken their toll, and on the advice of my doctor and after talking to my wife, it\'s time I put more focus on my health and well-being.""']",0.0511094918673705,"It has customers including Delta Air Lines, his former employer JetBlue and the carrier's acquisition target Spirit.",,0.0022987723350524,"He will be managing Airbus' business in the region, where it has expanded production of narrow-body jets in Mobile, Alabama.","When Hayes announced his departure from JetBlue in January, he said, ""Extraordinary challenges and pressure of this job have taken their toll, and on the advice of my doctor and after talking to my wife, it's time I put more focus on my health and well-being.""",2024-04-24
-NBC News ousts Ronna McDaniel after network’s anchors launch unprecedented on-air rebellion,https://edition.cnn.com/2024/03/26/media/nbc-news-ousts-ronna-mcdaniel/index.html,"
-  Updated
-        7:44 PM EDT, Tue March 26, 2024
-    ","NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.
-    
-            “There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”
-    
-            “I want to personally apologize to our team members who felt we let them down,” Conde continued. “While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”
-    
-            Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN. Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.
-    
-            The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.
-    
-            McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.
-    
-            As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead. McDaniel told the officials, regarding the certification: “Do not sign it. … We will get you attorneys.”
-    
-            In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.
-    
-            NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists. The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network. Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.
-    
-            Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”
-    
-            “There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.
-    
-            The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”
-    
-            “To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,” Brzezinski said. “We hope NBC will reconsider its decision. It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”
-    
-            Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.
-    
-            “NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.
-    
-            Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.” Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.
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-            “We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.
-    
-            “And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “Someone who is still trying to convince Americans that this election stuff doesn’t really work. That this last election wasn’t a real result. That American elections are fraudulent.“
-    
-            The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring. MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.
-    
-            In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”
-    
-            “I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “That leadership was willing to change on this, I’m grateful to them.”",CNN,26/03/2024,"['NBC News on Tuesday ousted former Republican National Committee chair Ronna McDaniel, just days after her hiring as a paid political analyst sparked intense backlash from the network’s top television anchors over McDaniel’s role in subverting the 2020 election and attacks on the press.', '“There is no doubt that the last several days have been difficult for the News Group,” NBCUniversal News Group President Cesar Conde said in a memo to staff. “', 'After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor.”', '“I want to personally apologize to our team members who felt we let them down,” Conde continued. “', 'While this was a collective recommendation by some members of our leadership team, I approved it and take full responsibility for it.”', 'Ahead of the network’s decision, McDaniel spent the day Tuesday interviewing attorneys in preparation for a potential legal battle with NBC, a person familiar with the matter told CNN.', 'Creative Artists Agency, the talent agency that brokered McDaniel’s deal with NBC, also parted ways with her, the person said.', 'The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.', 'McDaniel, who recently stepped down from the RNC under pressure from former President Donald Trump, was involved in attempts to overturn the results of the 2020 election.', 'As head of the RNC, she was involved in a phone call in 2020 to pressure Michigan county officials not to certify the vote from the Detroit area, where Joe Biden had a commanding lead.', 'McDanieltold the officials, regarding the certification: “Do not sign it. …', 'We will get you attorneys.”', 'In the years since, McDaniel continued to claim that the election had “problems” and that Biden did not legitimately win the election, fanning the flames of election denialism.', 'NBC’s announcement Friday that it had hired McDaniel was quickly met with alarm by the network’s journalists.', 'The revolt spilled into public view on Sunday when McDaniel appeared on “Meet the Press” with moderator Kristen Welker in her first interview since she was hired by the network.', 'Welker disclosed that the interview had been scheduled to take place prior to NBC announcing McDaniel would become a paid contributor for the network, stating that she had no involvement in her hiring.', 'Following the interview, Chuck Todd, NBC News’ chief political analyst, delivered a stinging on-air criticism of NBC executives for their decision to hire McDaniel, telling Welker, “I think our bosses owe you an apology for putting you in this situation.”', '“There’s a reason a lot of journalists at NBC News are uncomfortable with this,” Todd said, explaining that under McDaniel, the RNC engaged in “gaslighting” and “character assassination” when dealing with the news media.', 'The following day, MSNBC hosts Mika Brzezinski and Joe Scarborough joined Todd in protesting the decision on their program “Morning Joe.”', '“To be clear, we believe NBC News should seek out conservative Republican voices to provide balance in their election coverage, but it should be conservative Republicans, not a person who used her position of power to be an anti-democracy election denier,”Brzezinski said. “', 'We hope NBC will reconsider its decision.', 'It goes without saying that she will not be a guest on ‘Morning Joe’ in her capacity as a paid contributor.”', 'Nicolle Wallace, host of MSNBC’s “Deadline: White House,” later joined in the rebuke, saying on her program that the network’s decision to hire McDaniel was nothing short of a potential threat to democracy.', '“NBC News is, either wittingly or unwittingly, teaching election deniers that what they can do stretches well beyond appearing on our air and interviews to peddle lies about the sanctity and integrity of our elections,” Wallace told viewers.', 'Rachel Maddow — the network’s biggest star — later devoted the first half-hour of her prime-time program to the controversy, saying the decision to hire McDaniel was “inexplicable.”', 'Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.', '“We do not take it personally when we get attacked, when they say they want to put us on trial and execute us for treason,” she said.', '“And so I want to associate myself with all my colleagues at MSNBC and NBC News who have voiced loud and principled objections to our company for putting on the payroll someone who hasn’t just attacked us as journalists, but someone who is part of an ongoing project to get rid of our system of government,” she said of McDaniel. “', 'Someone who is still trying to convince Americans that this election stuff doesn’t really work.', 'That this last election wasn’t a real result.', 'That American elections are fraudulent.“', 'The on-air revolt ensnared NBC’s top leaders, including NBCUniversal News Group chair Cesar Conde, NBC News president Rebecca Blumenstein and senior vice president of politics Carrie Budoff Brown, who were responsible for McDaniel’s hiring.', 'MSNBC president Rashida Jones also did not object to the decision, people familiar with the matter said.', 'In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”', '“I think it is a show of strength and a show of respect for the people who work at this company and make us who we are,” Maddow said. “', 'That leadership was willing to change on this, I’m grateful to them.”']",-0.0710578434549836,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”","Maddow took issue with McDaniel’s long track record of demonizing the news media, labeling the press as “fake news,” and launching ugly attacks on NBC News journalists and MSNBC hosts.",-0.4204912036657333,"In the wake of Conde’s announcement to sever ties with McDaniel, MSNBC host Joy Reid and Maddow addressed the reversal on the network’s air, praising the move as “bold” and “strong.”",The reversal comes after journalists and anchors at both NBC and its cable news sibling MSNBC publicly denounced the decision to hire McDaniel as a paid analyst in a stunning and unprecedented on-air rebuke of network brass that has embarrassed the Peacock Network.,2024-04-24
-"Nordstrom family tries again to take department store private, forms special committee",https://www.cnbc.com/2024/04/18/nordstrom-family-tries-again-to-take-department-store-private.html,2024-04-18T21:30:00+0000,"The Nordstrom family is once again considering taking the department store private and has formed a special committee to evaluate bids, it announced on Thursday. CEO Erik Nordstrom and president Pete Nordstrom recently told the company's board of directors that it's interested in pursuing a take private deal for the 123-year-old department store, Nordstrom said in a news release. As a result, the board formed a special committee of independent and disinterested directors who will evaluate proposals from the two Nordstrom brothers and any others from outside parties. The company said that Nordstrom's board ""is committed to enhancing shareholder value"" and the committee will determine if any potential bids are in the best interest of the company and its owners. The department store warned that there's no assurance a deal will happen or be approved. In 2017, private-equity firm Leonard Green & Partners came close to taking the company private but the deal ultimately fell apart. At the time, management was hoping going private would allow it to make the investments it needed to help it adapt to a shifting retail landscape without the constant scrutiny that comes with a public company. The announcement comes as department stores face an uncertain future and grapple with declining sales. Many of the brands that have long relied on department stores to drive their revenue are now focusing on their own stores and websites and are less interested in working with wholesalers. Nordstrom's interest in going private was first reported by Reuters last month. Shares rose about 2% in extended trading after the news was announced and are up about 1.5% year to date, as of Thursday's close.",CNBC,18/04/2024,"['The Nordstrom family is once again considering taking the department store private and has formed a special committee to evaluate bids, it announced on Thursday.', ""CEO Erik Nordstrom and president Pete Nordstrom recently told the company's board of directors that it's interested in pursuing a take private deal for the 123-year-old department store, Nordstrom said in a news release."", 'As a result, the board formed a special committee of independent and disinterested directors who will evaluate proposals from the two Nordstrom brothers and any others from outside parties.', 'The company said that Nordstrom\'s board ""is committed to enhancing shareholder value"" and the committee will determine if any potential bids are in the best interest of the company and its owners.', ""The department store warned that there's no assurance a deal will happen or be approved."", 'In 2017, private-equity firm Leonard Green & Partners came close to taking the company private but the deal ultimately fell apart.', 'At the time, management was hoping going private would allow it to make the investments it needed to help it adapt to a shifting retail landscape without the constant scrutiny that comes with a public company.', 'The announcement comes as department stores face an uncertain future and grapple with declining sales.', 'Many of the brands that have long relied on department stores to drive their revenue are now focusing on their own stores and websites and are less interested in working with wholesalers.', ""Nordstrom's interest in going private was first reported by Reuters last month."", ""Shares rose about 2% in extended trading after the news was announced and are up about 1.5% year to date, as of Thursday's close.""]",0.3758359480957013,"The company said that Nordstrom's board ""is committed to enhancing shareholder value"" and the committee will determine if any potential bids are in the best interest of the company and its owners.",The announcement comes as department stores face an uncertain future and grapple with declining sales.,0.0440314312775929,"Shares rose about 2% in extended trading after the news was announced and are up about 1.5% year to date, as of Thursday's close.",The announcement comes as department stores face an uncertain future and grapple with declining sales.,2024-04-24
-Boeing expects slower production increase of 787 Dreamliner because of parts shortages,https://www.cnbc.com/2024/04/22/boeing-expects-slower-production-increase-of-787-dreamliner.html,2024-04-22T21:24:55+0000,"In this articleBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of ""a few key parts.""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.Stocker said Boeing is still facing supplier shortages.""To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries,"" he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand.Boeing was producing about five 787 Dreamliners per month as of late last year and said in January it aimed to get up to 10 a month as early as next year.Boeing is set to report quarterly results and will likely detail its production plans before the market opens on Wednesday.",CNBC,22/04/2024,"['In this articleBoeing told employees on Monday that it expects a slower increase in production and deliveries of new 787 Dreamliner planes because of supplier shortages of ""a few key parts.', '""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.', 'The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing\'s South Carolina 787 plant.', 'Stocker said Boeing is still facing supplier shortages.', '""To that end, we have shared with our customers that we expect a slower increase in our rate of production and deliveries,"" he wrote in the memo, reported earlier by Reuters, adding that the company still plans to increase the rate steadily because of high demand.', 'Boeing was producing about five 787 Dreamliners per month as of late last year and said in January it aimed to get up to 10 a month as early as next year.', 'Boeing is set to report quarterly results and will likely detail its production plans before the market opens on Wednesday.']",0.1277970121336743,"The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.","""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.",0.1885810613632202,"The company had separately been trying to boost output of 787 Dreamliners after quality problems suspended deliveries for nearly two years, ending in mid-2022.""We continue to take steps to improve the overall health of our production system, putting into action your ideas for improving safety, first-pass quality, training, performing more work in sequence and ensuring our teams have the necessary resources to excel,"" said Scott Stocker, 787 vice president and general manager, in a memo to staff at Boeing's South Carolina 787 plant.","""Boeing has already slowed down deliveries and output of its 737 Max planes in the aftermath of a near catastrophe in January when a door plug blew out from one of the jetliners mid-flight.",2024-04-24
-Tiktok vows to fight 'unconstitutional' US ban,https://www.bbc.co.uk/news/articles/c87zp82247yo,2024-04-24T01:50:59.548Z,"TikTok says it will challenge in court an ""unconstitutional"" law that could result in it being sold or banned in the United States. President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to divest the app or it will be blocked in the US. The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. ""We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew. ""The facts, and the Constitution, are on our side... rest assured, we aren't going anywhere."" In a video posted on the platform, he lambasted the bill and called for people to share their stories of how TikTok had improved their lives. ""Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said. In a separate statement TikTok added that it believed ""the facts and the law"" were ""clearly"" on its side. ""The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said. The measure was passed as part of a package of four bills which also included military aid for Ukraine, Israel, Taiwan and other US partners in the Indo-Pacific region. It had widespread support from lawmakers, with 79 Senators voting for it and 18 against. ""For years we've allowed the Chinese Communist party to control one of the most popular apps in America... that was dangerously short-sighted,"" said Senator Marco Rubio, the top Republican on the Intelligence Committee. ""A new law is going to require its Chinese owner to sell the app. This is a good move for America,"" he added. TikTok has said ByteDance ""is not an agent of China or any other country"". ByteDance insists it is not a Chinese firm, pointing to the global investment firms that own 60% of it.  Experts have told the BBC the bill is ""a big deal"" but have warned it faces multiple hurdles. It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process. In November, a U.S. federal judge in Montana blocked an effort to ban TikTok within the state. The popularity of the app with young Americans could also be problematic. “About two in three young people in the US have a TikTok account,"" said Andrew Przybylski, professor of human behaviour and technology at Oxford University. “The primary challenge is going to be on freedom of speech and freedom of expression. ""The UN Charter on the Rights of the Child is quite specific: young people have a right to information and a right to play, so I think it can be challenged on those grounds.” Jennifer Huddleston from the Cato institute, in Washington, said any sale might be delayed because of the “considerable” regulatory scrutiny it would attract. ""Nine months is a rather quick timeframe for this size of a transaction - it's something that is likely to have further regulatory scrutiny even without the requirements in this proposal,"" she said. ""The question remains - what does it mean to even sell TikTok in the US, is that truly possible, and what would a buyer look like?"" Exactly who would be able to buy and operate it is also a big question - the price would likely be in the tens of billions of dollars, meaning there would be few potential buyers. Brooke Erin Duffy, associate professor of communication at Cornell University, said TikTok users in the US had been bracing themselves for a ban ""for quite some time"". ""The Senate decision injects a heightened level of uncertainty into the livelihoods of countless content creators, influencers, and small business owners,"" she said. If it is not sold in time, the app could be blocked in the country - the US says this is because it is concerned TikTok could be used to spy on Americans, or to spread propaganda. TikTok gathers similar kinds of data to other apps, but the US is concerned this data could fall into the hands of the Chinese government - claims the company has always contested. Elsewhere, the firm has agreed to suspend its TikTok Lite rewards programme, which pays users to spend time on the app in France and Spain. European Commissioner Thierry Breton said the feature was ""toxic and addictive"", particularly when used by children, and threatened to block it unless action was taken. The EU said its investigation into the feature would continue. ",BBC,24/04/2024,"['TikTok says it will challenge in court an ""unconstitutional"" law that could result in it being sold or banned in the United States.', ""President Biden has signed into law a bill which gives the social media platform's Chinese owner, ByteDance, nine months to divest the app or it will be blocked in the US."", 'The law has been introduced because of concerns TikTok might share user data with the Chinese government - claims it has always denied. ""', 'We are confident and we will keep fighting for your rights in the courts,"" said TikTok boss Shou Zi Chew. ""', 'The facts, and the Constitution, are on our side... rest assured, we aren\'t going anywhere.""', 'In a video posted on the platform, he lambasted the bill and called for people to share their stories of how TikTok had improved their lives. ""', 'Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said.', 'In a separate statement TikTok added that it believed ""the facts and the law"" were ""clearly"" on its side. ""', 'The fact is, we have invested billions of dollars to keep U.S. data safe and our platform free from outside influence and manipulation,"" it said.', 'The measure was passed as part of a package of four bills which also included military aid for Ukraine, Israel, Taiwan and other US partners in the Indo-Pacific region.', 'It had widespread support from lawmakers, with 79 Senators voting for it and 18 against. ""', 'For years we\'ve allowed the Chinese Communist party to control one of the most popular apps in America... that was dangerously short-sighted,"" said Senator Marco Rubio, the top Republican on the Intelligence Committee. ""', 'A new law is going to require its Chinese owner to sell the app.', 'This is a good move for America,"" he added.', 'TikTok has said ByteDance ""is not an agent of China or any other country"".', 'ByteDance insists it is not a Chinese firm, pointing to the global investment firms that own 60% of it.', 'Experts have told the BBC the bill is ""a big deal"" but have warned it faces multiple hurdles.', 'It could take several years before the app is blocked as legal action, likely all the way to the Supreme Court, would delay the process.', 'In November, a U.S. federal judge in Montana blocked an effort to ban TikTok within the state.', 'The popularity of the app with young Americans could also be problematic. “', 'About two in three young people in the US have a TikTok account,"" said Andrew Przybylski, professor of human behaviour and technology at Oxford University. “', 'The primary challenge is going to be on freedom of speech and freedom of expression. ""', 'The UN Charter on the Rights of the Child is quite specific: young people have a right to information and a right to play, so I think it can be challenged on those grounds.”', 'Jennifer Huddleston from the Cato institute, in Washington, said any sale might be delayed because of the “considerable” regulatory scrutiny it would attract. ""', 'Nine months is a rather quick timeframe for this size of a transaction - it\'s something that is likely to have further regulatory scrutiny even without the requirements in this proposal,"" she said. ""', 'The question remains - what does it mean to even sell TikTok in the US, is that truly possible, and what would a buyer look like?""', 'Exactly who would be able to buy and operate it is also a big question - the price would likely be in the tens of billions of dollars, meaning there would be few potential buyers.', 'Brooke Erin Duffy, associate professor of communication at Cornell University, said TikTok users in the US had been bracing themselves for a ban ""for quite some time"". ""', 'The Senate decision injects a heightened level of uncertainty into the livelihoods of countless content creators, influencers, and small business owners,"" she said.', 'If it is not sold in time, the app could be blocked in the country - the US says this is because it is concerned TikTok could be used to spy on Americans, or to spread propaganda.', 'TikTok gathers similar kinds of data to other apps, but the US is concerned this data could fall into the hands of the Chinese government - claims the company has always contested.', 'Elsewhere, the firm has agreed to suspend its TikTok Lite rewards programme, which pays users to spend time on the app in France and Spain.', 'European Commissioner Thierry Breton said the feature was ""toxic and addictive"", particularly when used by children, and threatened to block it unless action was taken.', 'The EU said its investigation into the feature would continue.']",0.0616827327069505,"The primary challenge is going to be on freedom of speech and freedom of expression. ""","Make no mistake, this is a ban - a ban on TikTok, and a ban on you, and your voice,"" he said.",-0.2037454201624943,"This is a good move for America,"" he added.",The popularity of the app with young Americans could also be problematic. “,2024-04-24
-Coach: US sues to block its parent merger with Michael Kors owner,https://www.bbc.co.uk/news/articles/cglv3xgmkgyo,2024-04-23T01:41:31.034Z,"The US competition watchdog has sued to block fashion accessory giant Tapestry's $8.5bn (£6.9bn) takeover of rival Capri. Tapestry owns handbag makers including Coach and Kate Spade, while Capri's brands include Michael Kors. The US Federal Trade Commission (FTC) said if allowed, ""the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands"". In response Tapestry said ""the FTC fundamentally misunderstands both the marketplace and the way in which consumers shop"". Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits. Coach and Kate Spade are known for what their parent firm calls ""accessible luxury"" handbags - quality leather and craftsmanship products at affordable prices. Tapestry offered to buy Capri in August, hoping to create a US fashion giant that could compete against bigger European rivals such as Chanel, Hermes and Louis Vuitton parent LVMH. The FTC requested more information on the deal in November. Announcing its decision to take legal action, the FTC said the deal would give Tapestry a dominant share of the market. Tapestry said in a statement that ""in bringing this case, the FTC has chosen to ignore the reality of today’s dynamic and expanding $200 billion global luxury industry"". Capri, which also owns Versace and Jimmy Choo, said ""this transaction will not limit, reduce, or constrain competition"" as the two firms ""operate in the fiercely competitive and highly fragmented global luxury industry"". It is unusual for the US regulator to try to block a high-end fashion merger. But in December, authorities issued new merger guidelines to encourage fair, open and competitive markets. By using a new tactic under the guidelines, the FTC has argued that the merger of Tapestry and Capri would directly affect hourly workers who may lose out on higher wages due to reduced competition for employees. Earlier this month, the companies received regulatory clearance for the deal from the European Union and Japan. The two companies need to close the deal by 10 August. ",BBC,23/04/2024,"[""The US competition watchdog has sued to block fashion accessory giant Tapestry's $8.5bn (£6.9bn) takeover of rival Capri."", ""Tapestry owns handbag makers including Coach and Kate Spade, while Capri's brands include Michael Kors."", 'The US Federal Trade Commission (FTC) said if allowed, ""the deal would eliminate direct head-to-head competition between Tapestry’s and Capri’s brands"".', 'In response Tapestry said ""the FTC fundamentally misunderstands both the marketplace and the way in which consumers shop"".', 'Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits.', 'Coach and Kate Spade are known for what their parent firm calls ""accessible luxury"" handbags - quality leather and craftsmanship products at affordable prices.', 'Tapestry offered to buy Capri in August, hoping to create a US fashion giant that could compete against bigger European rivals such as Chanel, Hermes and Louis Vuitton parent LVMH.', 'The FTC requested more information on the deal in November.', 'Announcing its decision to take legal action, the FTC said the deal would give Tapestry a dominant share of the market.', 'Tapestry said in a statement that ""in bringing this case, the FTC has chosen to ignore the reality of today’s dynamic and expanding $200 billion global luxury industry"".', 'Capri, which also owns Versace and Jimmy Choo, said ""this transaction will not limit, reduce, or constrain competition"" as the two firms ""operate in the fiercely competitive and highly fragmented global luxury industry"".', 'It is unusual for the US regulator to try to block a high-end fashion merger.', 'But in December, authorities issued new merger guidelines to encourage fair, open and competitive markets.', 'By using a new tactic under the guidelines, the FTC has argued that the merger of Tapestry and Capri would directly affect hourly workers who may lose out on higher wages due to reduced competition for employees.', 'Earlier this month, the companies received regulatory clearance for the deal from the European Union and Japan.', 'The two companies need to close the deal by 10 August.']",0.0165597813779234,"But in December, authorities issued new merger guidelines to encourage fair, open and competitive markets.","By using a new tactic under the guidelines, the FTC has argued that the merger of Tapestry and Capri would directly affect hourly workers who may lose out on higher wages due to reduced competition for employees.",0.0556884109973907,"Earlier this month, the companies received regulatory clearance for the deal from the European Union and Japan.","Together, the firms employ about 33,000 staff globally but the FTC argued the deal could reduce wages and their benefits.",2024-04-24
-"Boeing reports better-than-feared quarter, says supply chain is stabilizing amid 737 Max crisis",https://www.cnbc.com/2024/04/24/boeing-ba-earnings-q1-2024.html,2024-04-24T19:00:54+0000,"In this articleBoeing on Wednesday reported a better-than-expected quarter but continued to burn cash as it tries to stabilize production following a near-catastrophic door blowout on a 737 Max earlier this year.Boeing burned through $3.9 billion in the first quarter, beating a previous company forecast and Wall Street analysts' expectations for a cash burn of as much as $4.5 billion for the three-month period.""Near term, yes, we are in a tough moment,"" CEO Dave Calhoun, who announced in March that he would step down by year-end, said in a note to employees Wednesday. ""Lower deliveries can be difficult for our customers and for our financials. But safety and quality must and will come above all else. We are absolutely committed to doing everything we can to make certain our regulators, customers, employees, and the flying public are 100 percent confident in Boeing.""Boeing has been hamstrung in ramping up production, especially of its bestselling 737 Max planes, and instead has lowered output. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing production. The FAA also said it found numerous issues of noncompliance along Boeing's supply chain and on Feb. 28, gave Boeing 90 days to come up with a quality control improvement plan.Calhoun reiterated Wednesday that the company's 737 Max production has dropped below 38 Max jets per month and the company said the rate would stay there for at least through the first half of the year. Deliveries have slowed sharply this quarter. Boeing earlier this week told staff that it expects slower production increases and deliveries of its 787 Dreamliners because of parts shortages.Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes.The company will have a ""sizable use of cash"" in the second quarter too, said CFO Brian West on an earnings call Wednesday.Ratings agency Moody's on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. ""As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.""Boeing lost $355 million in the first quarter, or 56 cents a share, down from a $425 million, or 69 cent per-share, loss a year earlier. Excluding one-time items, including pension costs, The company lost $388 million, or $1.13 a share.Revenue fell 8% to $16.57 million, slightly ahead of analysts' estimates.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Calhoun on Wednesday stood by the company's goal of $10 billion in annual free cash flow in the 2025-2026 period, but said hitting that target would likely be delayed by about six months.""I believe it, I just do,"" Calhoun said of the $10 billion goal.Boeing has been scrambling to reduce what is known as ""traveled work,"" when manufacturing steps occur out of order because of defects. Calhoun told CNBC in an interview Wednesday that the company's fuselage maker Spirit AeroSystems will ""only ship a conforming fuselage.""Boeing has been in talks to buy back Spirit, which it spun off almost 20 years ago. The Wichita, Kansas-based company also supplies Airbus, and conversations around how to address non-Boeing customers are key to an acquisition deal.Calhoun said it is ""more than likely"" that the companies reach a deal during the second quarter.""Spirit, in working with its other customers, is taking actions to ensure that all of those relationships are what they need to be,"" he told CNBC. ""We're going to be patient and let them get their job done with their respective customers and we'll get a deal done.""— CNBC's Phil Lebeau contributed to this report.",CNBC,24/04/2024,"['In this articleBoeing on Wednesday reported a better-than-expected quarter but continued to burn cash as it tries to stabilize production following a near-catastrophic door blowout on a 737 Max earlier this year.', ""Boeing burned through $3.9 billion in the first quarter, beating a previous company forecast and Wall Street analysts' expectations for a cash burn of as much as $4.5 billion for the three-month period."", '""Near term, yes, we are in a tough moment,"" CEO Dave Calhoun, who announced in March that he would step down by year-end, said in a note to employees Wednesday. ""', 'Lower deliveries can be difficult for our customers and for our financials.', 'But safety and quality must and will come above all else.', 'We are absolutely committed to doing everything we can to make certain our regulators, customers, employees, and the flying public are 100 percent confident in Boeing.', '""Boeing has been hamstrung in ramping up production, especially of its bestselling 737 Max planes, and instead has lowered output.', 'After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing production.', ""The FAA also said it found numerous issues of noncompliance along Boeing's supply chain and on Feb. 28, gave Boeing 90 days to come up with a quality control improvement plan."", ""Calhoun reiterated Wednesday that the company's 737 Max production has dropped below 38 Max jets per month and the companysaid the rate would stay there for at least through the first half of the year."", 'Deliveries have slowed sharply this quarter.', 'Boeing earlier this week told staff that it expects slower production increases and deliveries of its 787 Dreamliners because of parts shortages.', ""Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes."", 'The company will have a ""sizable use of cash"" in the second quarter too, said CFO Brian West on an earnings call Wednesday.', 'Ratings agency Moody\'s on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. ""', ""As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve."", '""Boeing lost $355 million in the first quarter, or 56 cents a share, down from a $425 million, or 69 cent per-share, loss a year earlier.', 'Excluding one-time items, including pension costs, The company lost $388 million, or $1.13 a share.', ""Revenue fell 8% to $16.57 million, slightly ahead of analysts' estimates."", ""Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:Calhoun on Wednesday stood by the company's goal of $10 billion in annual free cash flow in the 2025-2026 period, but said hitting that target would likely be delayed by about six months."", '""I believe it, I just do,"" Calhoun said of the $10 billion goal.', 'Boeing has been scrambling to reduce what is known as ""traveled work,"" when manufacturing steps occur out of order because of defects.', 'Calhoun told CNBC in an interview Wednesday that the company\'s fuselage maker Spirit AeroSystems will ""only ship a conforming fuselage.', '""Boeing has been in talks to buy back Spirit, which it spun off almost 20 years ago.', 'The Wichita, Kansas-based company also supplies Airbus, and conversations around how to address non-Boeing customers are key to an acquisition deal.', 'Calhoun said it is ""more than likely"" that the companies reach a deal during the second quarter.', '""Spirit, in working with its other customers, is taking actions to ensure that all of those relationships are what they need to be,"" he told CNBC. ""', 'We\'re going to be patient and let them get their job done with their respective customers and we\'ll get a deal done.""—', ""CNBC's Phil Lebeau contributed to this report.""]",0.0101127055458851,"As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.","Ratings agency Moody's on Wednesday downgraded Boeing, citing its cash shortfall and said Boeing will have to issue more debt to pay more than $4 billion due in 2025.""We are using this period, as difficult as it is, to deliberately slow the system, stabilize the supply chain, fortify our factory operations and position Boeing to deliver with the predictability and quality our customers demand for the long term,"" Calhoun said. """,-0.3083933472633361,"As these efforts begin to take hold, we're seeing early signs of more predictable, stable and efficient cycle times in our 737 factory, and expect this will continue to slowly improve.","Boeing's all-important commercial airplane unit revenue dropped 31% to $4.65 billion in the quarter compared with last year, with negative margins widening to 24.6% from 9.2%, including the impact of $443 million in compensation to Boeing customers because of the Jan. 5 accident and temporary grounding of the planes.",2024-04-24
-Biden just signed a potential TikTok ban into law. Here’s what happens next,https://edition.cnn.com/2024/04/23/tech/congress-tiktok-ban-what-next/index.html,"
-  Updated
-        11:23 AM EDT, Wed April 24, 2024
-    ","President Joe Biden signed a bill Wednesday that could lead to a nationwide TikTok ban, escalating a massive threat to the company’s US operations.
-    
-            Congress had passed the bill this week as part of a wide-ranging foreign aid package meant to support Israel and Ukraine. It was approved by the House on Saturday, and by the Senate on Tuesday. The legislation poses the most serious risk to TikTok since US officials began raising concerns about the app in 2020. Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely.
-    
-            Here’s what we know and how it could affect you.
-    
-            The bill that Biden signed gives TikTok’s Chinese parent, ByteDance, 270 days to sell TikTok. Failure to do so would lead to significant consequences: TikTok would be prohibited from US app stores and from “internet hosting services” that support it.
-    
-            That would effectively restrict new downloads of the app and interaction with its content. Biden’s decision to sign the bill on Wednesday puts the deadline for a sale at January 19, 2025. Under the legislation, however, Biden could extend the deadline another 90 days if he determines the company’s made progress toward a sale, giving TikTok potentially up to a year before facing a ban.
-    
-            TikTok is threatening legal action to oppose the law. In a video posted to TikTok, company CEO Shou Chew told users, “Rest assured: we aren’t going anywhere.”
-    
-            “We are confident and we will keep fighting for your rights in the courts,” he added. “The facts and the Constitution are on our side and we expect to prevail.”
-    
-            In a statement, a TikTok spokesperson called the law “unconstitutional” and said it “would devastate” the platform’s 170 million US users and 7 million businesses that operate on the app.
-    
-            A similar TikTok bill had been passed by the House in March, but it stalled in the Senate. In a procedural move, House Republicans this month attached a revised TikTok bill to the foreign aid package in hopes of forcing the Senate to vote on the TikTok legislation. Bundling the bill with the foreign aid — a top US priority — fast-tracked the TikTok bill and made it more likely to pass.
-    
-            If TikTok can’t separate from ByteDance by the deadline, then US TikTok users could hypothetically be cut off by mid-January. But that is still a big “if.” So for now, TikTok fans can continue using the app as before, though they might begin to see more creators — or the company itself — speaking out in the app to oppose the legislation.
-    
-            TikTok promised to take the US government to court if Biden signed the bill. In a memo on Saturday, a top TikTok executive wrote to employees that this would be the “beginning, not the end” of a long process to challenge what the company calls unconstitutional legislation that censors Americans’ speech rights and that would harm small businesses that depend on the app. In March, Chew vowed to continue fighting, “including (by) exercising our legal rights.”
-    
-            First Amendment experts say a bill that has the ultimate effect of censoring TikTok users could be shot down by the courts.
-    
-            “Longstanding Supreme Court precedent protects Americans’ First Amendment right to access information, ideas, and media from abroad,” said Nadine Farid Johnson, policy director of the Knight First Amendment Institute at Columbia University. “By banning TikTok, the bill would infringe on this right, and with no real pay-off. China and other foreign adversaries could still purchase Americans’ sensitive data from data brokers on the open market.”
-    
-            A court challenge could lead to the measure being temporarily blocked while the litigation plays out, likely over multiple years. But if a court declines to grant a temporary injunction, TikTok could have to scramble to comply with the law.
-    
-            The trouble is that TikTok’s parent is subject to Chinese law, and the Chinese government is on record opposing a sale.
-    
-            In recent years, China has implemented export controls governing algorithms, a policy that would seem to cover the incredibly successful algorithm that powers TikTok’s recommendation engine.
-    
-            If the Chinese government doesn’t want to let ByteDance relinquish TikTok’s algorithm, the thinking goes, it could block the sale outright. Alternatively, it may allow TikTok to be sold but without the lucrative algorithm that forms the basis for its popularity.
-    
-            Can TikTok still succeed without its algorithm? That would be the difficult question facing the company in the event of a forced sale. Without the secret sauce that has propelled the app to 170 million US users, the app could be as good as dead.",CNN,24/04/2024,"['President Joe Biden signed a bill Wednesday that could lead to a nationwide TikTok ban, escalating a massive threat to the company’s US operations.', 'Congress had passed the bill this week as part of a wide-ranging foreign aid package meant to support Israel and Ukraine.', 'It was approved by the House on Saturday, and by the Senate on Tuesday.', 'The legislation poses the most serious risk to TikTok since US officials began raising concerns about the app in 2020.', 'Under what is now US law, TikTok is forced to find a new owner within months or be banned from the United States entirely.', 'Here’s what we know and how it could affect you.', 'The bill that Biden signed gives TikTok’s Chinese parent, ByteDance, 270 days to sell TikTok.', 'Failure to do so would lead to significant consequences: TikTok would be prohibited from US app stores and from “internet hosting services” that support it.', 'That would effectively restrict new downloads of the app and interaction with its content.', 'Biden’s decision to sign the bill on Wednesday puts the deadline for a sale at January 19, 2025.', 'Under the legislation, however, Biden could extend the deadline another 90 days if he determines the company’s made progress toward a sale, giving TikTok potentially up to a year before facing a ban.', 'TikTok is threatening legal action to oppose the law.', 'In a video posted to TikTok, company CEO Shou Chew told users, “Rest assured: we aren’t going anywhere.”', '“We are confident and we will keep fighting for your rights in the courts,” he added. “', 'The facts and the Constitution are on our side and we expect to prevail.”', 'In a statement, a TikTok spokesperson called the law “unconstitutional” and said it “would devastate” the platform’s 170 million US users and 7 million businesses that operate on the app.', 'A similar TikTok bill had been passed by the House in March, but it stalled in the Senate.', 'In a procedural move, House Republicans this month attached a revised TikTok bill to the foreign aid package in hopes of forcing the Senate to vote on the TikTok legislation.', 'Bundling the bill with the foreign aid — a top US priority — fast-tracked the TikTok bill and made it more likely to pass.', 'If TikTok can’t separate from ByteDance by the deadline, then US TikTok users could hypothetically be cut off by mid-January.', 'But that is still a big “if.”', 'So for now, TikTok fans can continue using the app as before, though they might begin to see more creators — or the company itself —speaking outin the app to oppose the legislation.', 'TikTok promised to take the US government to court if Biden signed the bill.', 'In a memo on Saturday, a top TikTok executive wrote to employees that this would be the “beginning, not the end” of a long process to challenge what the company calls unconstitutional legislation that censors Americans’ speech rights and that would harm small businesses that depend on the app.', 'In March, Chewvowedto continue fighting, “including (by) exercising our legal rights.”', 'First Amendment experts say a bill that has the ultimate effect of censoring TikTok userscould be shot downby the courts.', '“Longstanding Supreme Court precedent protects Americans’ First Amendment right to access information, ideas, and media from abroad,” said Nadine Farid Johnson, policy director of the Knight First Amendment Institute at Columbia University. “', 'By banning TikTok, the bill would infringe on this right, and with no real pay-off.', 'China and other foreign adversaries could still purchase Americans’ sensitive data from data brokers on the open market.”', 'A court challenge could lead to the measure being temporarily blocked while the litigation plays out, likely over multiple years.', 'But if a court declines to grant a temporary injunction, TikTok could have to scramble to comply with the law.', 'The trouble is that TikTok’s parent is subject to Chinese law, and the Chinese government is on record opposing a sale.', 'In recent years, China has implementedexport controls governing algorithms, a policy that would seem to cover the incredibly successful algorithm that powers TikTok’s recommendation engine.', 'If the Chinese government doesn’t want to let ByteDance relinquish TikTok’s algorithm, the thinking goes, it could block the sale outright.', 'Alternatively, it may allow TikTok to be sold but without the lucrative algorithm that forms the basis for its popularity.', 'Can TikTok still succeed without its algorithm?', 'That would be the difficult question facing the company in the event of a forced sale.', 'Without the secret sauce that has propelled the app to 170 million US users, the app could be as good as dead.']",-0.0251071517489989,"“Longstanding Supreme Court precedent protects Americans’ First Amendment right to access information, ideas, and media from abroad,” said Nadine Farid Johnson, policy director of the Knight First Amendment Institute at Columbia University. “","President Joe Biden signed a bill Wednesday that could lead to a nationwide TikTok ban, escalating a massive threat to the company’s US operations.",-0.5897641529639562,Bundling the bill with the foreign aid — a top US priority — fast-tracked the TikTok bill and made it more likely to pass.,"In a statement, a TikTok spokesperson called the law “unconstitutional” and said it “would devastate” the platform’s 170 million US users and 7 million businesses that operate on the app.",2024-04-24
-"Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending",https://www.cnbc.com/2024/04/23/walmart-backed-fintech-one-introduces-buy-now-pay-later.html,2024-04-23T15:51:01+0000,"In this articleWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer's more than 4,600 U.S. stores, CNBC has learned.The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider of installment loans for Walmart customers since 2019. It's a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks.It also likely signals that a battle is brewing in the store aisles and ecommerce portals of America's largest retailer. At stake is the role of a wide spectrum of players, from fintech firms to card companies and established banks.One's push into lending is the clearest sign yet of its ambition to become a financial superapp, a mobile one-stop shop for saving, spending and borrowing money.Since it burst onto the scene in 2021, luring Goldman Sachs veteran Omer Ismail as CEO, the fintech startup has intrigued and threatened a financial landscape dominated by banks — and poached talent from more established lenders and payments firms.But the company, based out of a cramped Manhattan WeWork space, has operated mostly in stealth mode while developing its early products, including a debit account released in 2022.Now, One is going head-to-head with some of Walmart's existing partners like Affirm who helped the retail giant generate $648 billion in revenue last year.On a recent visit by CNBC to a New Jersey Walmart location, ads for both One and Affirm vied for attention among the Apple products and Android smartphones in the store's electronics section.Offerings from both One and Affirm were available at checkout, and loans from either provider were available for purchases starting at around $100 and costing as much as several thousand dollars at an annual interest rate of between 10% to 36%, according to their respective websites.Electronics, jewelry, power tools and automotive accessories are eligible for the loans, while groceries, alcohol and weapons are not.Buy now, pay later has gained popularity with consumers for everyday items as well as larger purchases. From January through March of this year, BNPL drove $19.2 billion in online spending, according to Adobe Analytics. That's a 12% year-over-year increase.Walmart and One declined to comment for this article.One's expanding role at Walmart raises the possibility that the company could force Affirm, Capital One and other third parties out of some of the most coveted partnerships in American retail, according to industry experts.""I have to imagine the goal is to have all this stuff, whether it's a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart's physical footprint,"" said Jason Mikula, a consultant formerly employed at Goldman's consumer division.Affirm declined to comment about its Walmart partnership. Shares of Affirm climbed 2% Tuesday, rebounding after falling more than 8% in premarket activity.For Walmart, One is part of its broader effort to develop new revenue sources beyond its retail stores in areas including finance and health care, following rival Amazon's playbook with cloud computing and streaming, among other segments. Walmart's newer businesses have higher margins than retail and are a part of its plan to grow profits faster than sales.In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.When it comes to finance, One is just Walmart's latest attempt to break into the banking business. Starting in the 1990s, Walmart made repeated efforts to enter the industry through direct ownership of a banking arm, each time getting blocked by lawmakers and industry groups concerned that a ""Bank of Walmart"" would crush small lenders and squeeze big ones.To sidestep those concerns, Walmart adopted a more arms-length approach this time around. For One, the retailer created a joint venture with investment firm firm Ribbit Capital — known for backing fintech firms including Robinhood, Credit Karma and Affirm — and staffed the business with executives from across finance.Walmart has not disclosed the size of its investment in One.The startup has said that it makes decisions independent of Walmart, though its board includes Walmart U.S. CEO, John Furner, and its finance chief, John David Rainey.One doesn't have a banking license, but partners with Coastal Community Bank for the debit card and installment loans.After its failed early attempts in banking, Walmart pursued a partnership strategy, teaming up with a constellation of providers, including Capital One, Synchrony, MoneyGram, Green Dot, and more recently, Affirm. Leaning on partners, the retailer opened thousands of physical MoneyCenter locations within its stores to offer check cashing, sending and receiving payments, and tax services.But Walmart and One executives have made no secret of their ambition to become a major player in financial services by leapfrogging existing players with a clean-slate effort.One's no-fee approach is especially relevant to low- and middle-income Americans who are ""underserved financially,"" Rainey, a former PayPal executive, noted during a December conference.""We see a lot of that customer demographic, so I think it gives us the ability to participate in this space in maybe a way that others don't,"" Rainey said. ""We can digitize a lot of the services that we do physically today. One is the platform for that.""One could generate roughly $1.6 billion in annual revenue from debit cards and lending in the near term, and more than $4 billion if it expands into investing and other areas, according to Morgan Stanley.Walmart can use its scale to grow One in other ways. It is the largest private employer in the U.S. with about 1.6 million employees, and it already offers its workers early access to wages if they sign up for a corporate version of One.There are signs that One is making a deeper push into lending beyond installment loans.Walmart recently prevailed in a legal dispute with Capital One, allowing the retailer to end its credit-card partnership years ahead of schedule. Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.The lawsuit led to speculation that Walmart intends to have One take over management of the retailer's co-branded and store cards. In fact, in legal filings Capital One itself alleged that Walmart's rationale was less about servicing complaints and more about moving transactions to a company it owns.""Upon information and belief, Walmart intends to offer its branded credit cards through One in the future,"" Capital One said last year in response to Walmart's suit. ""With One, Walmart is positioning itself to compete directly with Capital One to provide credit and payment products to Walmart customers.""Capital One said last month that it could appeal the decision. The company declined to comment further.Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.""One has obtained lending licenses that allow it to operate in nearly every U.S. state, according to filings and its website. The company's app tells users that credit building and credit score monitoring services are coming soon.And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive.Fintech players including Block's Cash App, PayPal and Chime dominate account growth among people who switch bank accounts and have made inroads with Walmart's core demographic. The three services made up 60% of digital player signups last year, according to data and consultancy firm Curinos.But One has the advantage of being majority owned by a company whose customers make more than 200 million visits a week.It can offer them enticements including 3% cashback on Walmart purchases and a savings account that pays 5% interest annually, far higher than most banks, according to customer emails from One.Those terms keep customers spending and saving within the Walmart ecosystem and helps the retailer better understand them, Morgan Stanley analysts said in a 2022 research note.""One has access to Walmart's sizable and sticky customer base, the largest in retail,"" the analysts wrote. ""This captive and underserved customer base gives One a leg up vs. other fintechs.""",CNBC,23/04/2024,"[""In this articleWalmart's majority-owned fintech startup One has begun offering buy now, pay later loans for big-ticket items at some of the retailer's more than 4,600 U.S. stores, CNBC has learned."", 'The move puts One in direct competition with Affirm, the BNPL leader and exclusive provider ofinstallment loans for Walmart customers since 2019.', ""It's a relationship that the Bentonville, Arkansas, retailer expanded recently, introducing Affirm as a payment option at Walmart self-checkout kiosks."", ""It also likely signals that a battle is brewing in the store aisles and ecommerce portals of America's largest retailer."", 'At stake is the role of a wide spectrum of players, from fintech firms to card companies and established banks.', ""One's push into lending is the clearest sign yet of its ambition to become a financial superapp, a mobile one-stop shop for saving, spending and borrowing money."", 'Since it burst onto the scene in 2021, luring Goldman Sachs veteran Omer Ismail as CEO, the fintech startup has intrigued and threatened a financial landscape dominated by banks — and poached talent from more established lenders and payments firms.', ""But the company, based out of a cramped Manhattan WeWork space, has operated mostly in stealth mode while developing its early products, including a debit account released in 2022.Now, One is going head-to-head with some of Walmart's existing partners like Affirm who helped the retail giant generate $648 billion in revenue last year."", ""On a recent visit by CNBC to a New Jersey Walmart location, ads for both One and Affirm vied for attention among the Apple products and Android smartphones in the store's electronics section."", 'Offerings from both One and Affirm were available at checkout, and loans from either provider were available for purchases starting at around $100 and costing as much as several thousand dollars at an annual interest rate of between 10% to 36%, according to their respective websites.', 'Electronics, jewelry, power tools and automotive accessories are eligible for the loans, while groceries, alcohol and weapons are not.', 'Buy now, pay later has gained popularity with consumers for everyday items as well as larger purchases.', 'From January through March of this year, BNPL drove $19.2 billion in online spending, according to Adobe Analytics.', ""That's a 12% year-over-year increase."", 'Walmart and One declined to comment for this article.', ""One's expanding role at Walmart raises the possibility that the company could force Affirm, Capital One and other third parties out of some of the most coveted partnerships in American retail, according to industry experts."", '""I have to imagine the goal is to have all this stuff, whether it\'s a credit card, buy now, pay later loans or remittances, to have it all unified in an app under a single brand, delivered online and through Walmart\'s physical footprint,"" said Jason Mikula, a consultant formerly employed at Goldman\'s consumer division.', 'Affirm declined to comment about its Walmart partnership.', 'Shares of Affirm climbed 2% Tuesday, rebounding after falling more than 8% in premarket activity.', ""For Walmart, One is part of its broader effort to develop new revenue sources beyond its retail stores in areas including finance and health care, following rival Amazon's playbook with cloud computing and streaming, among other segments."", ""Walmart's newer businesses have higher margins than retail and are a part of its plan to grow profits faster than sales."", 'In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.', ""When it comes to finance, One is just Walmart's latest attempt to break into the banking business."", 'Starting in the 1990s, Walmart made repeated efforts to enter the industry through direct ownership of a banking arm, each time getting blocked by lawmakers and industry groups concerned that a ""Bank of Walmart"" would crush small lenders and squeeze big ones.', 'To sidestep those concerns, Walmart adopted a more arms-length approach this time around.', 'For One, the retailer created a joint venture with investment firm firm Ribbit Capital — known for backing fintech firms including Robinhood, Credit Karma and Affirm — and staffed the business with executives from across finance.', 'Walmart has not disclosed the size of its investment in One.', 'The startup has said that it makes decisions independent of Walmart, though its board includes Walmart U.S. CEO, John Furner, and its finance chief, John David Rainey.', ""One doesn't have a banking license, but partners with Coastal Community Bank for the debit card and installment loans."", 'After its failed early attempts in banking, Walmart pursued a partnership strategy, teaming up with a constellation of providers, including Capital One, Synchrony, MoneyGram, Green Dot, and more recently, Affirm.', 'Leaning on partners, the retailer opened thousands of physical MoneyCenter locations within its stores to offer check cashing, sending and receiving payments, and tax services.', 'But Walmart and One executives have made no secret of their ambition to become a major player in financial services by leapfrogging existing players with a clean-slate effort.', 'One\'s no-fee approach is especially relevant to low- and middle-income Americans who are ""underserved financially,"" Rainey, a former PayPal executive, noted during a December conference.', '""We see a lot of that customer demographic, so I think it gives us the ability to participate in this space in maybe a way that others don\'t,"" Rainey said. ""', 'We can digitize a lot of the services that we do physically today.', 'One is the platform for that.', '""One could generate roughly $1.6 billion in annual revenue from debit cards and lending in the near term, and more than $4 billion if it expands into investing and other areas, according to Morgan Stanley.', 'Walmart can use its scale to grow One in other ways.', 'It is the largest private employer in the U.S. with about 1.6 million employees, and it already offers its workers early access to wages if they sign up for a corporate version of One.', 'There are signs that One is making a deeper push into lending beyond installment loans.', 'Walmart recently prevailed in a legal dispute with Capital One, allowing the retailer to end its credit-card partnership years ahead of schedule.', 'Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.', ""The lawsuit led to speculation that Walmart intends to have One take over management of the retailer's co-branded and store cards."", ""In fact, in legal filings Capital One itself alleged that Walmart's rationale was less about servicing complaints and more about moving transactions to a company it owns."", '""Upon information and belief, Walmart intends to offer its branded credit cards through One in the future,"" Capital One said last year in response to Walmart\'s suit. ""', 'With One, Walmart is positioning itself to compete directly with Capital One to provide credit and payment products to Walmart customers.', '""Capital One said last month that it could appeal the decision.', 'The company declined to comment further.', 'Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.', '""One has obtained lending licenses that allow it to operate in nearly every U.S. state, according to filings and its website.', ""The company's app tells users that credit building and credit score monitoring services are coming soon."", ""And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive."", ""Fintech players including Block's Cash App, PayPal and Chime dominate account growth among people who switch bank accounts and have made inroads with Walmart's core demographic."", 'The three services made up 60% of digital player signups last year, according to data and consultancy firm Curinos.', 'But One has the advantage of being majority owned by a company whose customers make more than 200 million visits a week.', 'It can offer them enticements including 3% cashback on Walmart purchases and a savings account that pays 5% interest annually, far higher than most banks, according to customer emails from One.', 'Those terms keep customers spending and saving within the Walmart ecosystem and helps the retailer better understand them, Morgan Stanley analysts said in a 2022 research note.', '""One has access to Walmart\'s sizable and sticky customer base, the largest in retail,"" the analysts wrote. ""', 'This captive and underserved customer base gives One a leg up vs. other fintechs.""']",0.1047730639049195,"Meanwhile, Walmart said last year when its lawsuit became public that it would soon announce a new credit card option with ""meaningful benefits and rewards.","Walmart sued Capital One last year, alleging that its exclusive partnership with the card issuer was void after it failed to live up to contractual obligations around customer service, assertions that Capital One denied.",0.5972028147606623,"In February, Walmart said it was buying TV maker Vizio for $2.3 billion to boost its advertising business, another growth area for the retailer.","And while One's expansion threatens to supersede Walmart's existing financial partners, Walmart's efforts could also be seen as defensive.",2024-04-24
-Boom times for US green energy as federal cash flows in,https://www.bbc.co.uk/news/business-68667140,2024-04-08T23:03:36.000Z,"In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil. The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive. The second plant would add to its facility in Soperton, Georgia - the world's first commercial scale ethanol-to-SAF plant. ""We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""  Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.  The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy. With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology. The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries. Consumers can also receive tax credits, for example for buying an EV or installing a heat pump. The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years). Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects. Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.  One company to benefit so far is EV battery recycling company Ascend Elements. It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky.  ""[The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""There is a clear sense that America has become more serious about transitioning to a cleaner economy."" While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider. Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments. According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits. The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long. But experts believe it is rising. Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data. Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023. The IRA has had two main positive effects thus far, says Mr Houser.  It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.  It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF. While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser. But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA. On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections.  Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within. The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.  Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm. The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL. For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this. It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.  Yet others argue the US can't afford not to take this path. And the point of the loans program is to take risks to help unlock new solutions that scale. ""It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm. More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more. Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill.  ""The US wasn't a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm. The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year. It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030. In the UK, chancellor Jeremy Hunt has made clear he isn't interested, nor can the UK afford to copy the IRA's approach in some ""distortive global subsidy race"" and will stick to other ways of helping. The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy. A global audience will be watching as the US's clean energy juggernaut unfolds. And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut. ",BBC,08/04/2024,"['In February US company LanzaJet, which produces sustainable aviation fuel (SAF) from ethanol, announced that it intended to build a second, larger plant on US soil.', 'The Inflation Reduction Act (IRA) was a ""big influence"", says Jimmy Samartzis, its chief executive.', 'The second plant would add to its facility in Soperton, Georgia - the world\'s first commercial scale ethanol-to-SAF plant. ""', 'We have a global landscape that we are pursuing…[but] we have doubled down on building here in the United States because of the tax credits in the IRA, and because of the overall support system that the US government has put in place.""', 'Signed into law by President Biden in August 2022, the IRA, along with the so-called Bipartisan Infrastructure Law (BIL) enacted in November 2021, are intended, amongst other things, to funnel billions of federal dollars into developing clean energy.', 'The aim is to lower greenhouse gas emissions, and incentivise private investment, to encourage the growth of green industries and jobs: a new foundation for the US economy.', 'With a 10-year lifespan, and a cost originally estimated at $391bn (£310bn) but now predicted to reach over $1tn - the final figure is unknown - the IRA offers new and juicer tax credits, as well as loans and loan guarantees for the deployment of emissions reducing technology.', 'The tax credits are available to companies for either domestically producing clean energy, or domestically manufacturing the equipment needed for the energy transition, including electric vehicles (EVs) and batteries.', 'Consumers can also receive tax credits, for example for buying an EV or installing a heat pump.', 'The tax credit for SAF producers like LanzaJet is new in the IRA and, offers between $1.25 to $1.75 per gallon of SAF (though it only lasts five years).', 'Complementary is the BIL, which runs for five years and provides direct investment largely in the form of government grants for research and development and capital projects.', 'Under the BIL, about $77bn (£61bn) will go to clean energy technology projects, according to the Brookings Institution which monitors the law.', 'One company to benefit so far is EV battery recycling company Ascend Elements.', 'It has won BIL grants totalling $480m (£380m), which it is matching a similar amount in private investment to build its second commercial facility in Hopkinsville, Kentucky. ""[', 'The IRA and BIL] are massive investments… larger than the infrastructure related provisions in the New Deal,"" says Adie Tromer from the Brookings. ""', 'There is a clear sense that America has become more serious about transitioning to a cleaner economy.""', 'While rules for some tax credits are still being finalized, tens of billions in actual public spending is flowing into the economy, says Trevor Houser at the Rhodium Group, an independent research provider.', 'Rhodium, together with the Massachusetts Institute of Technology, runs the Clean Investment Monitor (CIM) to track US clean technology investments.', 'According to recently updated CIM data, in the 2023 fiscal year, the federal government invested approximately $34bn (£27bn) into clean energy, the vast majority through tax credits.', ""The extent to which the policy instruments are so far spurring not just announcements - of which there are plenty - but real extra private investment is harder to know: clean energy investment has been on a general upward trend anyway and the IRA hasn't been around long."", 'But experts believe it is rising.', 'Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.', 'Clean energy investment in the US, as a share of total private investment, rose from 3.7% in the fourth quarter of 2022 to 5% in the fourth quarter of 2023.', 'The IRA has had two main positive effects thus far, says Mr Houser.', 'It has ""supercharged"" private investment in more mature technologies which were already growing very rapidly like solar, EVs and batteries.', 'It has also, combined with the BIL, led to a ""dramatic growth"" in investment in emerging climate technologies like clean hydrogen, carbon dioxide capture and removal and SAF.', 'While the total magnitude of those investments are still relatively small compared to the more mature technologies, ""the IRA fundamentally changed the economics"" says Mr Houser.', ""But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA."", ""On the industry's mind is the fate of the laws, particularly the longer-to-run IRA, should there be a change of government in the US November elections."", 'Repealing or amending the IRA (or BIL) would require Republican control of the Presidency, Senate and House - though wholesale repeal would likely face meaningful opposition from within.', 'The rub is many of the projects that the IRA is incentivising are being or will be built in Republican states or counties.', 'Yet a Republican president alone could potentially frustrate things for example by slowing or deferring loans or grants, or amending the rules which serve the laws. ""', 'A Trump presidency would definitely chill the atmosphere and possibly more,"" says Ashur Nissan of Kaya Partners, a climate policy advice firm.', 'The Heritage Foundation, a conservative think tank and purveyor of hard-right ideas for the next conservative President, advocates repeal for both the IRA and BIL.', ""For the organization's Diana Furchtgott-Roth, a former Trump administration official, it is fiscally irresponsible for the US, with its vast deficit and debt, to be spending like this."", 'It is also time, she says, that renewable energy such as solar and wind, into which subsidies have been poured for years, stood on their own feet.', ""Yet others argue the US can't afford not to take this path."", 'And the point of the loans program is to take risks to help unlock new solutions that scale. ""', 'It would be failing if there weren\'t any so called \'failures\' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.', ""More technology of business Meanwhile, the US's approach is putting competitive pressure on Europe to do more."", 'Some European clean energy manufacturing companies are now building facilities in the US to take advantage of the tax credits that otherwise would have been built in Europe including solar panel maker Meyer Burger and electrolyser manufacturers Nel and John Cockerill. ""', 'The US wasn\'t a market for some of these companies in the past because Europe was more active,"" says Brandon Hurlbut, of Boundary Stone Partners, a clean energy advisory firm.', ""The EU's Net Zero Industrial Act (NZIA) is expected to enter into force this year."", ""It doesn't involve new money, but seeks to coordinate existing financing and introduces domestic favourability for the first time - putting in place a non-binding target for the bloc to locally manufacture 40% of its clean energy equipment needs by 2030."", 'In the UK, chancellor Jeremy Hunt has made clear he isn\'t interested, nor can the UK afford to copy the IRA\'s approach in some ""distortive global subsidy race"" and will stick to other ways of helping.', 'The Labour party recently scrapped its $28bn green investment plan seen as a stab at leaning into an IRA style policy.', ""A global audience will be watching as the US's clean energy juggernaut unfolds."", ""And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.""]",0.3325934479260706,"And if it leads others to ask what more they can do to produce clean energy products - even if just for reasons of economic opportunity - it will be good for humanity's sake, says Mr Hurlbut.","It would be failing if there weren't any so called 'failures' within it,"" says Richard Youngman, of Cleantech Group, a research and consulting firm.",0.3432436046146211,"Total clean energy investment in the US in the 2023 calendar year including from both private and government sources reached a record $239bn (£190bn), up 38% from 2022 according to the CIM data.","But the IRA is failing to reach some parts of the green economy: so far it hasn't lifted investment in more mature technologies which have been falling like wind and heat pumps, though Mr Houser notes things may have fallen further without the IRA.",2024-04-24
-Elon Musk is heading to India. He could deliver a big win for Tesla and Narendra Modi,https://edition.cnn.com/2024/04/19/cars/india-elon-musk-visit-investment-intl-hnk/index.html,"
-  Published
-        9:00 AM EDT, Fri April 19, 2024
-    ","Tesla may be close to unlocking a massive new market.
-    
-            CEO Elon Musk is due to arrive in India next week for a visit that is expected to include a meeting with Prime Minister Narendra Modi and confirmation that Tesla plans to build a factory in the world’s most populous country.
-    
-            Musk posted last week on X that he is “looking forward” to meeting Modi. The billionaire did not mention a date, but Indian media and Reuters reported, citing unnamed sources, that he is expected to meet the Indian leader next week in New Delhi.
-    
-            He is also planning to meet Indian space tech startups during his visit. Pawan Chandana, co-founder of Skyroot Aerospace, which launched India’s first privately developed rocket in 2022, told CNN he will be meeting Musk on Monday. Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter.
-    
-            Currently the world’s fourth richest man, Musk is likely to announce an investment of $2 billion to $3 billion in the South Asian country, mainly for building the new Tesla factory, Reuters and Financial Times reported, citing anonymous sources.
-    
-            A Musk-Modi meeting next week would come just days after India commenced the world’s largest democratic election. An estimated 960 million people in the country of 1.4 billion are eligible to vote in the polls, which started on Friday and will take more than a month to complete. Modi is widely expected to clinch a rare third consecutive five-year term as prime minister.
-    
-            “In the last ten years we have made significant progress in the manufacturing sector,” Modi’s Bharatiya Janata Party (BJP) said in its election manifesto this week.
-    
-            Tesla opened its first Asian factory in 2019 in Shanghai, and it now produces hundreds of thousands of cars for the vast Chinese market and for export. If the investment in India is announced, it would be a boost to Modi’s efforts to make India a major global manufacturing hub.
-    
-            “We will make Bharat a trusted global manufacturing hub through a series of programmes including simplification of regulatory processes, investment in infrastructure … bringing capital to the industry and investing in research and development,” it said. Bharat is the Sanskrit or Hindi name for India.
-    
-            The Modi government is aggressively trying to capitalize on the rethink underway among global companies on supply chains.
-    
-            Executives are trying to diversify operations beyond China, where they faced obstacles during the pandemic and are threatened by rising tension between Beijing and Washington. As a result, some of the world’s biggest companies, including Apple (AAPL) supplier Foxconn, are expanding their operations significantly in India.
-    
-            Apart from consumer electronics, Modi’s party also wants to promote manufacturing in areas including semiconductors and electric vehicles (EV).
-    
-            “We will support the growth of the automobile industry and its transition to EV manufacturing,” the manifesto said. “We will invest in establishing a nationwide EV charger infrastructure to encourage EV adoption.”
-    
-            Tesla’s entry into the world’s fastest growing major economy would be a win for Musk as well.
-    
-            Even though EVs comprise less than 1% of total vehicle sales in India, it should be an attractive destination in the coming years for Tesla, which is struggling with waning enthusiasm in major markets.
-    
-            In the United States, overall electric vehicle sales have flattened out in recent months. China, the world’s largest EV market, is also losing momentum as a result of market saturation and a slowing economy.
-    
-            According to reports earlier this month, Tesla is cutting more than 10% of its global staff of 140,000 over “cost reductions and increasing productivity.”
-    
-            The development comes just after the company reported a year-over-year decline in sales in the first three months of this year, its first such drop since the height of the pandemic four years ago.
-    
-            In the fourth quarter of 2023, Tesla briefly lost its crown as the leader in global EV sales to Chinese automaker BYD. It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales.
-    
-            While demand for EVs has softened in other economies, India aims to have 30% of all private car sales be electric by 2030.
-    
-            Last year, Musk said his company is looking to invest in India “as soon as humanly possible,” following a meeting with Modi in New York.
-    
-            The billionaire reiterated his ambitions to make it in the South Asian nation earlier this month, when he said in an X Spaces livestream interview that it is a “natural progression to provide Tesla electric vehicles in India.”
-    
-            Musk’s push into the Indian market has been in the works for years.
-    
-            In 2017, he said Tesla was planning to sell cars in India as soon as that summer. But the plan was delayed because of the company’s efforts to negotiate lower import duties with the Indian government.
-    
-            Musk tweeted in 2021 that Tesla wanted to enter India, “but import duties are the highest in the world by far of any large country.”
-    
-            Tesla had sought to slash the duties, but the Indian government wanted the company to make cars locally before considering any tax breaks.
-    
-            The Modi government has now removed some of those impediments in an effort to make India a manufacturing hub for electric vehicles.
-    
-            Last month, it announced a new policy lowering taxes on some electric cars made by global automakers, if the manufacturer invests at least half a billion dollars in the country and sets up a local plant.
-    
-            India isn’t the only Asian nation where Tesla has plans. The company is also in talks with the Thai government to build a production facility in the country.
-    
-            Tesla did not respond to a request for comment.",CNN,19/04/2024,"['Tesla may be close to unlocking a massive new market.', 'CEO Elon Musk is due to arrive in India next week for a visit that is expected to include a meeting with Prime Minister Narendra Modi and confirmation that Tesla plans to build a factory in the world’s most populous country.', 'Musk posted last week on X that he is “looking forward” to meeting Modi.', 'The billionaire did not mention a date, but Indian media and Reuters reported, citing unnamed sources, that he is expected to meet the Indian leader next week in New Delhi.', 'He is also planning to meet Indian space tech startups during his visit.', 'Pawan Chandana, co-founder of SkyrootAerospace, which launched India’s first privately developed rocket in 2022, told CNN he will be meeting Musk on Monday.', 'Apart from Tesla (TSLA), Musk is also the boss of rocket company SpaceX and X, formerly Twitter.', 'Currently the world’s fourth richest man, Musk is likely to announce an investment of $2 billion to $3 billion in the South Asian country, mainly for building the new Tesla factory, Reuters and Financial Times reported, citing anonymous sources.', 'A Musk-Modi meeting next week would come just days after India commenced theworld’s largest democratic election.', 'An estimated 960 million people in the country of 1.4 billion are eligible to vote in the polls, which started on Friday and will take more than a month to complete.', 'Modi is widely expected to clinch a rare third consecutive five-year term as prime minister.', '“In the last ten years we have made significant progress in the manufacturing sector,” Modi’s Bharatiya Janata Party (BJP) said in its election manifesto this week.', 'Tesla opened its first Asian factory in 2019 in Shanghai, and it now produces hundreds of thousands of cars for the vast Chinese market and for export.', 'If the investment in India is announced, it would be a boost to Modi’s efforts to make India a major global manufacturing hub.', '“We will make Bharat a trusted global manufacturing hub through a series of programmes including simplification of regulatory processes, investment in infrastructure … bringing capital to the industry and investing in research and development,” it said.', 'Bharat is the Sanskrit or Hindi name for India.', 'The Modi government is aggressively trying to capitalize on the rethink underway among global companies on supply chains.', 'Executives are trying to diversify operations beyond China, where they faced obstacles during the pandemic and are threatened by rising tension between Beijing and Washington.', 'As a result, some of the world’s biggest companies, including Apple (AAPL) supplier Foxconn, are expanding their operations significantly in India.', 'Apart from consumer electronics, Modi’s party also wants to promote manufacturing in areas including semiconductors and electric vehicles (EV).', '“We will support the growth of the automobile industry and its transition to EV manufacturing,” the manifesto said. “', 'We will invest in establishing a nationwide EV charger infrastructure to encourage EV adoption.”', 'Tesla’s entry into the world’s fastest growing major economy would be a win for Musk as well.', 'Even though EVs comprise less than1% of total vehicle salesin India, it should be an attractive destination in the coming years for Tesla, which is struggling with waning enthusiasm in major markets.', 'In the United States, overall electric vehicle sales have flattened out in recent months.', 'China, the world’s largest EV market, is also losing momentum as a result of market saturation and a slowing economy.', 'According to reports earlier this month, Tesla is cutting more than 10% of its global staff of 140,000 over “cost reductions and increasing productivity.”', 'The development comes just after the company reported a year-over-yeardecline in salesin the first three months of this year, its first such drop since the height of the pandemic four years ago.', 'In the fourth quarter of 2023, Tesla brieflylost its crown as the leader in global EV salesto Chinese automaker BYD.', 'It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales.', 'While demand for EVs has softened in other economies, India aims to have 30% of all private car sales be electric by 2030.', 'Last year, Musk said his company is looking to invest in India “as soon as humanly possible,” following a meeting with Modi in New York.', 'The billionaire reiterated his ambitions to make it in the South Asian nation earlier this month, when he saidin an X Spaces livestream interview thatit is a “natural progression to provide Tesla electric vehicles in India.”', 'Musk’s push into the Indian markethas been in the worksfor years.', 'In 2017, he said Tesla was planning to sell cars in India as soon as that summer.', 'But the plan wasdelayedbecause of the company’s efforts to negotiate lower import duties with the Indian government.', 'Musktweetedin 2021 that Tesla wanted to enter India, “but import duties are the highest in the world by far of any large country.”', 'Tesla had sought to slash the duties, but the Indian government wanted the company to make cars locally before considering any tax breaks.', 'The Modi government has now removed some of those impediments in an effort to make India a manufacturing hub for electric vehicles.', 'Last month, it announced anew policylowering taxes on some electric cars made by global automakers, if the manufacturer invests at least half a billion dollars in the country and sets up a local plant.', 'India isn’t the only Asian nation where Tesla has plans.', 'The company is also in talks with the Thai government to build a production facility in the country.', 'Tesla did not respond to a request for comment.']",0.0865189040205206,Tesla’s entry into the world’s fastest growing major economy would be a win for Musk as well.,"Executives are trying to diversify operations beyond China, where they faced obstacles during the pandemic and are threatened by rising tension between Beijing and Washington.",0.4419727786020799,"It recaptured the EV sales title from BYD in the first quarter, despite the drop in sales.","The development comes just after the company reported a year-over-yeardecline in salesin the first three months of this year, its first such drop since the height of the pandemic four years ago.",2024-04-24
-The Chevrolet Corvette is officially going electric,https://edition.cnn.com/2022/04/25/business/electric-hybrid-corvette/index.html,"
-  Updated
-        12:22 PM EDT, Mon April 25, 2022
-    ","General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning. 
-    
-            Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “We will offer an electrified Corvette as early as next year,” he wrote. An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered. All Corvettes produced by the company previously have been rear-wheel-drive only.
-    
-            While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.
-    
-            “Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.” It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system. Reuss has also previously hinted there would be electrified variants of the car.
-    
-            Various companies are working on electric sports cars. Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles. Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.
-    
-            Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle. Lamborghini has been working on plug-in hybrid sports cars, though.
-    
-            To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower. A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall. The previous generation of the Corvette included included a 755-horsepower ZR1 version. Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.
-    
-            Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines. Ferrari’s most powerful sports cars are hybrids, for instance.  
-    
-            GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.",CNN,25/04/2022,"['General Motors will produce a fully electric Chevrolet Corvette, GM President Mark Reuss announced in a LinkedIn post Monday morning.', 'Reuss didn’t say when the electric Corvette would come, but he hinted that a hybrid model could come relatively soon. “', 'We will offer an electrified Corvette as early as next year,” he wrote.', 'An accompanying video the company posted to Twitter showed what appeared to be a hybrid Corvette, and in another first, showed the front wheels spinning and throwing snow as if being powered.', 'All Corvettes produced by the company previously have been rear-wheel-drive only.', 'While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.', '“Electrified” is an auto industry term encompassing everything from hybrid to fully electric vehicles, and anything with an electric motor can count as “electrified.”', 'It has long been rumored that the current generation of the Corvette, the first with its gasoline engine mounted behind the seats instead of in the front, could be built with a hybrid system.', 'Reuss has also previously hinted there would be electrified variants of the car.', 'Various companies are working on electric sports cars.', 'Most all-electric vehicles in production so far have been four-door sedans and SUVs, as the need for batteries lends itself to larger and heavier vehicles.', 'Tesla’s first car, the Lotus Elise-based Tesla Roadster, was an electric sports car, but the second-generation of Tesla Roadster, originally unveiled as a prototype in 2017, has yet to go into production.', 'Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.', 'Lamborghini has been working on plug-in hybrid sports cars, though.', 'To date, the Corvette is only available in the base Stingray version with 6.2-liter V8 engine producing up to 495 horsepower.', 'A 670 horsepower Corvette Z06 with a 5.5-liter V8 was unveiled last fall.', 'The previous generation of the Corvette included included a 755-horsepower ZR1 version.', 'Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.', 'Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.', 'Ferrari’s most powerful sports cars are hybrids, for instance.', 'GM has said it plans to produce only zero-emission vehicles, meaning fully electric or powered by hydrogen fuel cells, by 2035.']",0.0521320736918344,Nothing like that has yet been announced for the current model but GM engineers have said a major reason for putting the engine in the back was to allow for better performance at extremely high horsepower levels.,"While Reuss’s post implies a hybrid Corvette will be based on the current generation of the car, it’s not clear if the all-electric version will be a variation of this car or a completely different future model.",0.3646016319592793,"Besides saving gas, hybrid systems can also be used in high-performance cars to add additional power and to provide for quicker acceleration since electric motors can provide power to the wheels more quickly than gas engines.","Some manufacturers, such as Lamborghini, have said that current battery technology doesn’t allow for a optimum sports car performance from a purely electric vehicle.",2024-04-24
-Tesla: EV giant cuts prices in major markets as sales fall,https://www.bbc.co.uk/news/articles/c1d4g8jz57yo,2024-04-22T01:32:46.738Z,"Tesla has cut its prices again in a number of major markets - including the US, China and Germany - as the electric car giant run by multi-billionaire Elon Musk faces falling sales. The move comes after it reported a sharp fall in its global vehicle deliveries in the first three months of this year. A price war has been intensifying between electric vehicle (EV) makers, with particularly fierce competition coming from Chinese firms. Tesla is due to report financial results for the first quarter of 2024 after the US market close on Tuesday. In a post on social media platform X, formerly Twitter, Mr Musk said: ""Tesla prices must change frequently in order to match production with demand."" In China, the firm cut the starting price of the revamped Model 3 in China by 14,000 yuan (£1,562) to 231,900 yuan. Prices of the Model Y, Model X and Model S vehicles in the US were reduced by $2,000 (£1,616) on Friday. There were also price cuts in many other countries in Europe, the Middle East and Africa, according Reuters, the news agency. BBC News has contacted Tesla for comment. The company triggered an EV price war over a year ago when it aggressively cut prices at the expense of profit margins. The firm has been slow to refresh its ageing models while rivals in China, such as BYD and Nio, have been rolling out cheaper models. Chinese smartphone maker Xiaomi also launched its first EV last month. Last week, Tesla announced plans to lay off more than 10% of its global workforce. Over the weekend, Mr Musk said he would postpone a planned trip to India, where he was due to meet Prime Minister Narendra Modi, due to ""very heavy Tesla obligations"". On Friday, the firm recalled thousands of its new Cybertrucks over safety concerns. It is because their accelerator pedals currently risk getting trapped by the interior trim, increasing the possibility of crashes. Tesla's shares have fallen by more than 40% since the start of this year. ",BBC,22/04/2024,"['Tesla has cut its prices again in a number of major markets - including the US, China and Germany - as the electric car giant run by multi-billionaire Elon Musk faces falling sales.', 'The move comes after it reported a sharp fall in its global vehicle deliveries in the first three months of this year.', 'A price war has been intensifying between electric vehicle (EV) makers, with particularly fierce competition coming from Chinese firms.', 'Tesla is due to report financial results for the first quarter of 2024 after the US market close on Tuesday.', 'In a post on social media platform X, formerly Twitter, Mr Musk said: ""Tesla prices must change frequently in order to match production with demand.""', 'In China, the firm cut the starting price of the revamped Model 3 in China by 14,000 yuan (£1,562) to 231,900 yuan.', 'Prices of the Model Y, Model X and Model S vehicles in the US were reduced by $2,000 (£1,616) on Friday.', 'There were also price cuts in many other countries in Europe, the Middle East and Africa, according Reuters, the news agency.', 'BBC News has contacted Tesla for comment.', 'The company triggered an EV price war over a year ago when it aggressively cut prices at the expense of profit margins.', 'The firm has been slow to refresh its ageing models while rivals in China, such as BYD and Nio, have been rolling out cheaper models.', 'Chinese smartphone maker Xiaomi also launched its first EV last month.', 'Last week, Tesla announced plans to lay off more than 10% of its global workforce.', 'Over the weekend, Mr Musk said he would postpone a planned trip to India, where he was due to meet Prime Minister Narendra Modi, due to ""very heavy Tesla obligations"".', 'On Friday, the firm recalled thousands of its new Cybertrucks over safety concerns.', 'It is because their accelerator pedals currently risk getting trapped by the interior trim, increasing the possibility of crashes.', ""Tesla's shares have fallen by more than 40% since the start of this year.""]",-0.160047840316849,"On Friday, the firm recalled thousands of its new Cybertrucks over safety concerns.","It is because their accelerator pedals currently risk getting trapped by the interior trim, increasing the possibility of crashes.",-0.8346021175384521,"In China, the firm cut the starting price of the revamped Model 3 in China by 14,000 yuan (£1,562) to 231,900 yuan.",The move comes after it reported a sharp fall in its global vehicle deliveries in the first three months of this year.,2024-04-24
-Netflix blows past earnings estimates as subscribers jump 16%,https://www.cnbc.com/2024/04/18/netflix-nflx-earnings-q1-2024.html,2024-04-18T21:48:31+0000,"In this articleLOS ANGELES — Netflix will no longer provide quarterly membership numbers or average revenue per user starting next year, the company said Thursday as it reported earnings that beat on the top and bottom lines.Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected. However, the quarter marks one of the last glimpses investors will get of the company's subscriber base going forward.""As we've noted in previous letters, we're focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction,"" the company said in its quarterly letter to shareholders. ""In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential.""Netflix said now that it is generating substantial profit and free cash flow — as well as developing new revenue streams like advertising and a password-sharing crackdown — its membership numbers are not the only factor in the company's growth. It said the metric lost significance after it started to offer multiple price points for memberships.The company said it would still announce ""major subscriber milestones as we cross them.""Netflix also noted that it expects paid net additions to be lower in the second quarter compared to the first quarter ""due to typical seasonality."" Its second-quarter revenue forecast of $9.49 billion was just shy of Wall Street's estimate of $9.54 billionShares of the company fell around 4% in extended trading.Here are Netflix's first-quarter results:Netflix reported first-quarter net income of $2.33 billion, or $5.28 per share, versus $1.30 billion, or $2.88 per share, in the prior-year period.The company posted revenue of $9.37 billion for the quarter, up from $8.16 billion in the year-ago quarter.The streaming company is navigating its transformation from targeting subscriber growth to focusing on profit, as it uses price hikes, a crackdown on password sharing and an ad-supported tier to boost revenue. Investors are looking for signs that these efforts are still boosting Netflix and seeking more details about the company's foray into video games.Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform. The company has teased that it would like to expand its live sports offerings.""We're in the very early days of developing our live programming and I would look at this as an expansion of the types of content we offer, the way we expanded to film and unscripted and animation and most recently games,"" said co-CEO Ted Sarandos during Thursday's earnings call. ""We believe that these kind of event cultural moments like the Jake Paul and Mike Tyson fight are just that kind of television, and we want to be part of winning over those moments with our members as well, so that for me is the excitement part of this.""As of Thursday morning, the company's stock was up 27% year to date and around 85% over the last 12 months.",CNBC,18/04/2024,"['In this articleLOS ANGELES — Netflix will no longer provide quarterly membership numbers or average revenue per userstarting next year, the company said Thursdayas it reportedearnings that beat on the top and bottom lines.', 'Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected.', ""However, thequarter marks one of the last glimpses investorswill get of the company's subscriberbasegoing forward."", '""As we\'ve noted in previous letters, we\'re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction,"" the company said in its quarterly letter to shareholders. ""', 'In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential.', '""Netflix said now that it is generating substantial profit and free cash flow — as well as developing new revenue streams like advertising and a password-sharing crackdown — its membership numbers are not the only factor in the company\'s growth.', 'It said the metric lost significance after it started to offer multiple price points for memberships.', 'The company said it would still announce ""major subscriber milestones as we cross them.', '""Netflix also noted that it expects paid net additions to be lower in the second quarter compared to the first quarter ""due to typical seasonality.""', ""Its second-quarter revenue forecast of $9.49 billion was just shy of Wall Street's estimate of $9.54 billionShares of the company fell around 4% in extended trading."", ""Here are Netflix's first-quarter results:Netflix reported first-quarter net income of $2.33 billion, or $5.28 per share, versus $1.30 billion, or $2.88 per share, in the prior-year period."", 'The company posted revenue of $9.37 billion for the quarter, up from $8.16 billion in the year-ago quarter.', 'The streaming company is navigating its transformation from targeting subscriber growth to focusing on profit, as it uses price hikes, a crackdown on password sharing and an ad-supported tier to boost revenue.', ""Investors are looking for signs that these efforts are still boosting Netflix and seeking more details about the company's foray into video games."", 'Netflix could also provide more insight into its partnership with TKO Group Holdings to bring WWE to the platform.', 'The company has teased that it would like to expand its live sports offerings.', '""We\'re in the very early days of developing our live programming and I would look at this as an expansion of the types of content we offer, the way we expanded to film and unscripted and animation and most recently games,"" said co-CEO Ted Sarandos during Thursday\'s earnings call. ""', 'We believe that these kind of event cultural moments like the Jake Paul and Mike Tyson fight are just that kind of television, and we want to be part of winning over those moments with our members as well, so that for me is the excitement part of this.', '""As of Thursday morning, the company\'s stock was up 27% year to date and around 85% over the last 12 months.']",0.2900729548550076,"""Netflix said now that it is generating substantial profit and free cash flow — as well as developing new revenue streams like advertising and a password-sharing crackdown — its membership numbers are not the only factor in the company's growth.","""Netflix also noted that it expects paid net additions to be lower in the second quarter compared to the first quarter ""due to typical seasonality.""",0.3740520110497108,"Total memberships rose 16% in the first quarter, reaching 269.6 million, well above the 264.2 million Wall Street had expected.","""Netflix also noted that it expects paid net additions to be lower in the second quarter compared to the first quarter ""due to typical seasonality.""",2024-04-24
-"Your movie theater may be shortchanging your drinks, a lawsuit alleges",https://edition.cnn.com/2024/04/19/business/cinemark-drink-lawsuit/index.html,"
-  Published
-        5:39 PM EDT, Fri April 19, 2024
-    ","Not even a beer at the movies is spared from shrinkflation, alleges a lawsuit against Cinemark. And one man is spearheading the fight against what he considers false advertising on his beer pour.
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-            The proposed class-action suit, filed this week in a Texas federal court, claims that the theater chain’s 24-ounce drink cups can only hold a maximum of 22 ounces, purposely misleading customers.
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-            According to the lawsuit, the lead plaintiff, Shane Waldrop, ordered a 24-ounce beer from a Texas Cinemark theater on Valentine’s Day this year and observed that the 24-ounce container did not seem large enough to hold 24 ounces of liquid. Waldrop then took the container home and measured it for himself, finding it only held 22 ounces, according to the lawsuit.
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-            “This lawsuit is another example of consumers unwittingly overpaying for a supposed benefit they are not receiving,” Jarrett Ellzey, one of Waldrop’s attorneys said in a statement to CNN. “While two ounces may seem inconsequential to the seller, the bottom line is the buyer is not getting what he’s promised by the seller.”
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-            The lawsuit claims Cinemark’s false advertising violates both state and federal laws.
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-            CNN did not independently verify the size of Cinemark’s 24-ounce cups, and Cinemark did not respond to CNN’s request for comment.
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-            Concessions are a major part of a movie theater’s business. For Cinemark’s most recent reported quarter, concession revenue climbed to $243 million, while admissions revenue was $322.2 million.
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-            Rising prices seem to have boosted that revenue: Cinemark reported concession revenue for 2023 exceeded revenue in 2019 by 3%, even though movie attendance was 25% lower.
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-            Waldrop’s lawsuit claims some of that revenue came through shortchanging customers. A 20-ounce drink at the Plano, Texas, Cinemark theater Waldrop visited costs $7.80 pre-tax, while a 24-ounce drink costs just $1 more, at $8.80.
-    
-            “The 24 oz drink should provide a deal for consumers over the 20 oz drink’s price: $0.37 per ounce vs. $0.39 per ounce,” the lawsuit said. “But due to the actual volume of 22 oz available in the “24 oz” drink, the price is $0.40 per ounce making the larger drink more expensive per ounce, which is not a deal at all.”
-    
-            During times of high inflation, some companies reduce the size of their products to cut costs rather than hiking prices. The practice, known as “shrinkflation,” has been in the spotlight recently as some packaged food brands faced accusations of quietly engaging in the practice.
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-            OREO Double Stuf Chocolate Sandwich Cookies saw a 6% decrease in size by weight from January 2019 to October 2023, according to a report from Pennsylvania Democratic Sen. Bob Casey in December, using Labor Department data.
-    
-            “Consumers are tired of not getting value for their hard-earned money while corporations get a windfall for providing an underperforming product or, as in this case, an incomplete product,” Ellzey said. “Though often misunderstood, class actions function as a device for changing business bad practices like this.”
-    
-            - CNN’s Bryan Mena contributed to reporting.",CNN,19/04/2024,"['Not even a beer at the movies is spared from shrinkflation, alleges a lawsuit against Cinemark.', 'And one man is spearheading the fight against what he considers false advertising on his beer pour.', 'The proposed class-action suit, filed this week in a Texas federal court, claims that the theater chain’s 24-ounce drink cups can only hold a maximum of 22 ounces, purposely misleading customers.', 'According to the lawsuit, the lead plaintiff, Shane Waldrop, ordered a 24-ounce beer from a Texas Cinemark theater on Valentine’s Day this year and observed that the 24-ounce container did not seem large enough to hold 24 ounces of liquid.', 'Waldrop then took the container home and measured it for himself, finding it only held 22 ounces, according to the lawsuit.', '“This lawsuit is another example of consumers unwittingly overpaying for a supposed benefit they are not receiving,” Jarrett Ellzey, one of Waldrop’s attorneys said in a statement to CNN. “', 'While two ounces may seem inconsequential to the seller, the bottom line is the buyer is not getting what he’s promised by the seller.”', 'The lawsuit claims Cinemark’s false advertising violates both state and federal laws.', 'CNN did not independently verify the size of Cinemark’s 24-ounce cups, and Cinemark did not respond to CNN’s request for comment.', 'Concessions are a major part of a movie theater’s business.', 'For Cinemark’s most recent reported quarter, concession revenue climbed to $243 million, while admissions revenue was $322.2 million.', 'Rising prices seem to have boosted that revenue: Cinemark reported concession revenue for 2023 exceeded revenue in 2019 by 3%, even though movie attendance was 25% lower.', 'Waldrop’s lawsuit claims some of that revenue came through shortchanging customers.', 'A 20-ounce drink at the Plano, Texas, Cinemark theater Waldrop visited costs $7.80 pre-tax, while a 24-ounce drink costs just $1 more, at $8.80.', '“The 24 oz drink should provide a deal for consumers over the 20 oz drink’s price: $0.37 per ounce vs. $0.39 per ounce,” the lawsuit said. “', 'But due to the actual volume of 22 oz available in the “24 oz” drink, the price is $0.40 per ounce making the larger drink more expensive per ounce, which is not a deal at all.”', 'During times of high inflation, some companies reduce the size of their products to cut costs rather than hiking prices.', 'The practice, known as “shrinkflation,” has been in the spotlight recently as some packaged food brands faced accusations of quietly engaging in the practice.', 'OREO Double Stuf Chocolate Sandwich Cookies saw a 6% decrease in size by weight from January 2019 to October 2023, according toa reportfrom Pennsylvania Democratic Sen. Bob Casey in December, using Labor Department data.', '“Consumers are tired of not getting value for their hard-earned money while corporations get a windfall for providing an underperforming product or, as in this case, an incomplete product,” Ellzey said.', '“Though often misunderstood, class actions function as a device for changing business bad practices like this.”', '- CNN’s Bryan Mena contributed to reporting.']",-0.1485274902753776,"While two ounces may seem inconsequential to the seller, the bottom line is the buyer is not getting what he’s promised by the seller.”","“Consumers are tired of not getting value for their hard-earned money while corporations get a windfall for providing an underperforming product or, as in this case, an incomplete product,” Ellzey said.",0.0026866495609283,"For Cinemark’s most recent reported quarter, concession revenue climbed to $243 million, while admissions revenue was $322.2 million.",Waldrop’s lawsuit claims some of that revenue came through shortchanging customers.,2024-04-24
-Tesla profits cut in half as demand falls,https://www.bbc.co.uk/news/articles/c72pvz18x4lo,2024-04-23T21:38:57.158Z,"Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023. It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced  thousands of job cuts. Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward. Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals. The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.   Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts' predictions of just over $22bn.  But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.  It did not reveal pricing details for the new vehicles.  However Mr Musk made clear he also grander ambitions, touting Tesla's AI credentials and plans for self-driving vehicles - even going as far as to say considering it to be just a car company was the ""wrong framework."" ""If somebody doesn't believe Tesla is going to solve autonomy I think they should not be an investor,"" he said. Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face ""technological, regulatory and operational challenges."" Some investors have called for the company to instead focus on releasing a lower price, mass-market EV. However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.  It also said its situation was not unique.  ""Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,"" it said.  Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.  Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.  The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located. However, Mr Musk sought to downplay the move.  ""Tesla has now created over 30,000 manufacturing jobs in California!"" he said in a post on his social media platform X, formerly Twitter, on Tuesday.  Another 285 jobs will be lost in New York.  Tesla's total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company's filings with US regulators.  The car firm is also facing other issues, with a struggle over Mr Musk's compensation still raging on. On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk's compensation package - once valued at $56bn - which had been rejected by a Delaware judge. The judge found Tesla's directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out. Due to the fall in Tesla's stock value, the compensation package is now estimated to be around $10bn less - but still greater than the GDP of many countries. In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas - which Mr Musk called for after the judge rejected his payday. ",BBC,23/04/2024,"['Tesla has announced its profits fell sharply in the first three months of the year to $1.13bn (£910m), compared with $2.51bn in 2023.', 'It caps a difficult period for the electric vehicle (EV) maker, which - faced with falling sales - has announced thousands of job cuts.', 'Boss Elon Musk remains bullish about its prospects, telling investors the launch of new models would be brought forward.', 'Its share price has risen but analysts say it continues to face significant challenges, including from lower-cost rivals.', 'The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.', ""Figures for the first quarter of 2024 revealed revenues of $21.3bn, down on analysts' predictions of just over $22bn."", 'But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.', 'It did not reveal pricing details for the new vehicles.', 'However Mr Musk made clear he also grander ambitions, touting Tesla\'s AI credentials and plans for self-driving vehicles - even going as far as to say considering it to be just a car company was the ""wrong framework."" ""', 'If somebody doesn\'t believe Tesla is going to solve autonomy I think they should not be an investor,"" he said.', 'Such sentiments have been questioned by analysts though, with Deutsche Bank saying driverless cars face ""technological, regulatory and operational challenges.""', 'Some investors have called for the company to instead focus on releasing a lower price, mass-market EV.', 'However, Tesla has already been on a charm offensive, trying to win over new customers by dropping its prices in a series of markets in the face of falling sales.', 'It also said its situation was not unique. ""', 'Global EV sales continue to be under pressure as many carmakers prioritize hybrids over EVs,"" it said.', 'Despite plans to bring forward new models originally planned for next year the firm is cutting its workforce.', 'Tesla said it would lose 3,332 jobs in California and 2,688 positions in Texas, starting mid-June.', ""The cuts in Texas represent 12% of Tesla's total workforce of almost 23,000 in the area where its gigafactory and headquarters are located."", 'However, Mr Musk sought to downplay the move. ""', 'Tesla has now created over 30,000 manufacturing jobs in California!""', 'he said in a post on his social media platform X, formerly Twitter, on Tuesday.', 'Another 285 jobs will be lost in New York.', ""Tesla's total workforce stood at more than 140,000 late last year, up from around 100,000 at the end of 2021, according to the company's filings with US regulators."", ""The car firm is also facing other issues, with a struggle over Mr Musk's compensation still raging on."", ""On Wednesday, Tesla asked shareholders to vote for a proposal to accept Mr Musk's compensation package - once valued at $56bn - which had been rejected by a Delaware judge."", ""The judge found Tesla's directors had breached their fiduciary duty to the firm by awarding Mr Musk the pay-out."", ""Due to the fall in Tesla's stock value, the compensation package is now estimated to be around $10bn less - but still greater than the GDP of many countries."", 'In addition, Tesla wants its shareholders to agree to the firm being moved from Delaware to Texas - which Mr Musk called for after the judge rejected his payday.']",-0.0070112090732076,But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.,The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.,-0.2766771597020766,But the decision by Tesla to bring forward the launch of new models from the second half of 2025 boosted its shares by nearly 12.5% in after-hours trading.,The company has suffered from falling demand and competition from cheaper Chinese imports which has led its stock price to collapse by 43% over 2024.,2024-04-24
-Real Bedford's owner says the town can support a Premier League club,https://www.bbc.co.uk/news/articles/c89zp045drxo,2024-04-20T05:10:01.223Z,"The Bitcoin podcast owner of a non-league football club has said a county town where it is based can ""support a team in the Premier League"". Peter McCormack, who comes from Bedford, said ""patience"" was needed to get ""Real Bedford"" into the top flight.  He took over Bedford FC in 2021 and on Tuesday secured a second successive promotion and will compete in the Southern League Division One Central next season, which is the eighth tier of the English football league pyramid. He said with plans for Universal Studios to open a theme park in the area, the town ""is only going to get bigger"".  Mr McCormack said the club was ""relentless about success"" and ""we're trying to build a club for the football league"". He said he was trying to do ""something different"" and create  an international brand.  ""We're seen as the Bitcoin club and if you're a Bitcoiner anywhere in the world you will be aware of our club,"" he said. He said because of that it has access to sponsors, including Gemini founders Cameron and Tyler Winklevoss, who have just invested $4.5m (about £3.6m) into the club, to become co-owners. ""Everything is on track... having them as co-owners is a gift to the town,"" he said. ""Our ambition is big; we want to approach this professionally, do it right and that means investing in the club."" He said it was making a profit and has two audiences - people in Bedford who ""want to support a team and are excited by the project""  The other is its US fanbase, which he said was 60-70% of the total, who are able to watch live coverage on streaming services. The club's McMullen Park ground, just off the A421 near Cardington and right next to Bedford Town's ground, is owned by Bedford Borough Council and the lease runs out in two years.  Mr McCormack said he was negotiating an extension, but the long-term plan was to move ""somewhere bigger"". On X he said: ""We're a Bedford team and will only play football in the town.""  Attendance was also increasing.  When he took over in 2021, he said 30-40 watched a game, last season the average was 180, this season it was nearer to 250 on average, but at Tuesday's game the crowd was more than 1,000. ""Bedford [Borough] has a population of 174,000 people. Burnley, in the Premier League, has a population of 90,000,"" he said. ""Add to the fact Universal is coming here, Bedford is only going to get bigger.  ""There's going to be more people here, the town can support a team in the Premier League. ""It needs financial backing and it needs a team that can make it happen. We've got the team and the financial backing - now it's just patience."" He said his goal was to get into the Football League within a decade and ""Cameron and Tyler want us in the Premier League"". Follow East of England news on Facebook, Instagram and X. Got a story? Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830 ",BBC,20/04/2024,"['The Bitcoin podcast owner of a non-league football club has said a county town where it is based can ""support a team in the Premier League"".', 'Peter McCormack, who comes from Bedford, said ""patience"" was needed to get ""Real Bedford"" into the top flight.', 'He took over Bedford FC in 2021 and on Tuesday secured a second successive promotion and will compete in the Southern League Division One Central next season, which is the eighth tier of the English football league pyramid.', 'He said with plans for Universal Studios to open a theme park in the area, the town ""is only going to get bigger"".', 'Mr McCormack said the club was ""relentless about success"" and ""we\'re trying to build a club for the football league"".', 'He said he was trying to do ""something different"" and create an international brand. ""', 'We\'re seen as the Bitcoin club and if you\'re a Bitcoiner anywhere in the world you will be aware of our club,"" he said.', 'He said because of that it has access to sponsors, including Gemini founders Cameron and Tyler Winklevoss, who have just invested $4.5m (about £3.6m) into the club, to become co-owners. ""', 'Everything is on track... having them as co-owners is a gift to the town,"" he said. ""', 'Our ambition is big; we want to approach this professionally, do it right and that means investing in the club.""', 'He said it was making a profit and has two audiences - people in Bedford who ""want to support a team and are excited by the project"" The other is its US fanbase, which he said was 60-70% of the total, who are able to watch live coverage on streaming services.', ""The club's McMullen Park ground, just off the A421 near Cardington and right next to Bedford Town's ground, is owned by Bedford Borough Council and the lease runs out in two years."", 'Mr McCormack said he was negotiating an extension, but the long-term plan was to move ""somewhere bigger"".', 'On X he said: ""We\'re a Bedford team and will only play football in the town.""', 'Attendance was also increasing.', 'When he took over in 2021, he said 30-40 watched a game, last season the average was 180, this season it was nearer to 250 on average, but at Tuesday\'s game the crowd was more than 1,000. ""', 'Bedford [Borough] has a population of 174,000 people.', 'Burnley, in the Premier League, has a population of 90,000,"" he said. ""', 'Add to the fact Universal is coming here, Bedford is only going to get bigger. ""', 'There\'s going to be more people here, the town can support a team in the Premier League. ""', 'It needs financial backing and it needs a team that can make it happen.', 'We\'ve got the team and the financial backing - now it\'s just patience.""', 'He said his goal was to get into the Football League within a decade and ""Cameron and Tyler want us in the Premier League"".', 'Follow East of England news on Facebook, Instagram and X. Got a story?', 'Email eastofenglandnews@bbc.co.uk or WhatsApp us on 0800 169 1830']",0.1703385968710653,"He said it was making a profit and has two audiences - people in Bedford who ""want to support a team and are excited by the project"" The other is its US fanbase, which he said was 60-70% of the total, who are able to watch live coverage on streaming services.",,0.983183217048645,Attendance was also increasing.,,2024-04-24
-How robots are taking over warehouse work,https://www.bbc.co.uk/news/business-68639533,2024-04-23T01:17:00.000Z,"Shoppers probably don't think much about what happens next when they place an online grocery order. But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers. At an Ocado warehouse just outside Luton, I'm in the middle of such a dance. As far as I can see, hundreds of robots whizz around a grid, fetching items for online orders. They move with dizzying speed and precision. In the early days of online shopping, when you placed an order, humans would dash around a warehouse or a store collecting your items. But for years now, Ocado has been using robots to collect and distribute products, bringing them to staff, who pack them into boxes for delivery. And Ocado is not the only firm investing in such automation. In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway's AutoStore. In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic. Back in Luton, Ocado has taken its automation process to a higher level. The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer's shop. Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end. It might seem like a trivial addition, but training a robot to recognise an item, grab it successfully and move it, is surprisingly difficult.  At Ocado around 100 engineers have spent years training the artificial intelligence (AI) to take on that task.  James Matthews, chief executive of Ocado Technology explains the AI has to interpret the information coming from its cameras.  ""What is an object? Where are the edges of that object? How would one grasp it?"" In addition the AI has to work out how to move the arm. ""How do I pick that up and accelerate in a way without flinging it across the room? How do I place it in a bag?"" he says. The Luton warehouse has 44 robotic arms, which at the moment account for 15% of the products that flow through the facility, that's about 400,000 items a week. The rest are handled by staff at picking stations.  The staff handle items that robots are not ready for yet, like wine bottles which are heavy and have curved surfaces, making them difficult to grasp. But the system is ramping up. The company is developing different attachments for the robot arms that will allow them to handle a wider variety of items. ""We're just playing it carefully and ramping slowly over time,"" says Mr Matthews. ""It's a deliberate constraint on our behalf, so we continue providing good service to people, and not crushed custard creams in every order, or worse, putting stuff on the track that goes under the wheels of one of the bots and creates an incident."" In two or three years Ocado expects the robots will account for 70% of the products.  This inevitably means fewer human staff, but the Luton warehouse still has 1,400 staff, and many of those will still be needed in the future. ""There will be some sort of curve that tends towards fewer people per building. But it's not as clear cut as, 'hey, look, we're on the verge of just not needing people'. We're a very long way from that,"" Mr Matthews says. Ocado is hoping to sell its automation technology to companies outside the grocery sector. Late last year it announced a deal with Canada's McKesson, a large pharmaceuticals distributor. ""Think about which industries have the need to move things around efficiently inside of warehouse... it's endless,"" says Mr Matthews.  More technology of business So where will the automation of warehouses end? Are we heading to human-free warehouses that can run 24 hours a day? Not so fast, says Sarah Bolton, who specialises in commercial real estate at law firm Taylor Wessing. ""It's almost prohibitively expensive, we're talking hundreds of millions of pounds to fully automate a warehouse,"" she points out.  ""So you're really only talking about the big tenants in the really big warehouses looking at full automation, just because you have to have that size to make it anywhere near financially viable."" She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into. Reliable electricity connections are also vital. ""You're reliant on new build, and there's a massive undersupply of new build warehouse stock in the UK at the minute,"" says Ms Bolton.  AutoStore is tackling some of those challenges. It has a company called Pio which is developing automation for smaller businesses. It uses much of the same technology that AutoStore supplies to big firms - robots buzzing around on a storage grid where goods are stacked vertically. However the upfront costs of Pio's system are lower, with the cost related to the volume of goods the system handles. The software is simpler and designed to integrate easily with common e-commerce systems like Shopify. ""It's a complete offering... where the upfront cost is very reduced. So it's quite affordable for these companies to get access to automation and start to get the benefits out of it. And since the technology is very flexible and scalable, you can continue to basically increase volume by adding more robots rather than more storage capacity,"" says Carlos Fernández, chief product officer at AutoStore. At the moment 10 clients are running Pio's automation system with another five customers signed up. Mr Fernández sees huge growth potential.  ""Over the coming years, there's going to be a journey of making the technology simpler and more affordable. It won't require you to be a large corporation to run complex automation projects, and you won't need to invest big amounts of capital also to start getting the benefits."" ",BBC,23/04/2024,"[""Shoppers probably don't think much about what happens next when they place an online grocery order."", 'But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers.', ""At an Ocado warehouse just outside Luton, I'm in the middle of such a dance."", 'As far as I can see, hundreds of robots whizz around a grid, fetching items for online orders.', 'They move with dizzying speed and precision.', 'In the early days of online shopping, when you placed an order, humans would dash around a warehouse or a store collecting your items.', 'But for years now, Ocado has been using robots to collect and distribute products, bringing them to staff, who pack them into boxes for delivery.', 'And Ocado is not the only firm investing in such automation.', ""In its warehouses, Asda uses a system from Swiss automation firm Swisslog and Norway's AutoStore."", 'In the US, Walmart has been automating parts of its supply chain using robotics from an American company called Symbotic.', 'Back in Luton, Ocado has taken its automation process to a higher level.', ""The robots which zoom around the grid, now bring items to robotic arms, which reach out and grab what they need for the customer's shop."", 'Bags of rice, boxes of tea, packets of crumpets are all grabbed by the arms using a suction cup on the end.', 'It might seem like a trivial addition, but training a robot to recognise an item, grab it successfully and move it, is surprisingly difficult.', 'At Ocado around 100 engineers have spent years training the artificial intelligence (AI) to take on that task.', 'James Matthews, chief executive of Ocado Technology explains the AI has to interpret the information coming from its cameras. ""', 'What is an object?', 'Where are the edges of that object?', 'How would one grasp it?""', 'In addition the AI has to work out how to move the arm. ""', 'How do I pick that up and accelerate in a way without flinging it across the room?', 'How do I place it in a bag?""', 'he says.', ""The Luton warehouse has 44 robotic arms, which at the moment account for 15% of the products that flow through the facility, that's about 400,000 items a week."", 'The rest are handled by staff at picking stations.', 'The staff handle items that robots are not ready for yet, like wine bottles which are heavy and have curved surfaces, making them difficult to grasp.', 'But the system is ramping up.', 'The company is developing different attachments for the robot arms that will allow them to handle a wider variety of items. ""', 'We\'re just playing it carefully and ramping slowly over time,"" says Mr Matthews. ""', 'It\'s a deliberate constraint on our behalf, so we continue providing good service to people, and not crushed custard creams in every order, or worse, putting stuff on the track that goes under the wheels of one of the bots and creates an incident.""', 'In two or three years Ocado expects the robots will account for 70% of the products.', 'This inevitably means fewer human staff, but the Luton warehouse still has 1,400 staff, and many of those will still be needed in the future. ""', 'There will be some sort of curve that tends towards fewer people per building.', ""But it's not as clear cut as, 'hey, look, we're on the verge of just not needing people'."", 'We\'re a very long way from that,"" Mr Matthews says.', 'Ocado is hoping to sell its automation technology to companies outside the grocery sector.', 'Late last year it announced a deal with Canada\'s McKesson, a large pharmaceuticals distributor. ""', 'Think about which industries have the need to move things around efficiently inside of warehouse... it\'s endless,"" says Mr Matthews.', 'More technology of business So where will the automation of warehouses end?', 'Are we heading to human-free warehouses that can run 24 hours a day?', 'Not so fast, says Sarah Bolton, who specialises in commercial real estate at law firm Taylor Wessing. ""', 'It\'s almost prohibitively expensive, we\'re talking hundreds of millions of pounds to fully automate a warehouse,"" she points out. ""', 'So you\'re really only talking about the big tenants in the really big warehouses looking at full automation, just because you have to have that size to make it anywhere near financially viable.""', ""She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into."", 'Reliable electricity connections are also vital. ""', 'You\'re reliant on new build, and there\'s a massive undersupply of new build warehouse stock in the UK at the minute,"" says Ms Bolton.', 'AutoStore is tackling some of those challenges.', 'It has a company called Pio which is developing automation for smaller businesses.', 'It uses much of the same technology that AutoStore supplies to big firms - robots buzzing around on a storage grid where goods are stacked vertically.', ""However the upfront costs of Pio's system are lower, with the cost related to the volume of goods the system handles."", 'The software is simpler and designed to integrate easily with common e-commerce systems like Shopify. ""', ""It's a complete offering... where the upfront cost is very reduced."", ""So it's quite affordable for these companies to get access to automation and start to get the benefits out of it."", 'And since the technology is very flexible and scalable, you can continue to basically increase volume by adding more robots rather than more storage capacity,"" says Carlos Fernández, chief product officer at AutoStore.', ""At the moment 10 clients are running Pio's automation system with another five customers signed up."", 'Mr Fernández sees huge growth potential. ""', ""Over the coming years, there's going to be a journey of making the technology simpler and more affordable."", 'It won\'t require you to be a large corporation to run complex automation projects, and you won\'t need to invest big amounts of capital also to start getting the benefits.""']",0.1068244655536913,"But it sets-off an intricate dance of software, artificial intelligence, robots, vans and workers.","She also points that automation needs modern buildings, including floors that can stand heavy weights, large spaces without support columns, so there's less for the robots to crash into.",0.649489245631478,So it's quite affordable for these companies to get access to automation and start to get the benefits out of it.,There will be some sort of curve that tends towards fewer people per building.,2024-04-24
-FTC votes to ban most employers from using noncompete clauses. But legal challenge is expected,https://edition.cnn.com/2024/04/23/success/ftc-bans-non-compete-clauses/index.html,"
-  Updated
-        5:06 PM EDT, Tue April 23, 2024
-    ","The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses. Such a ban could affect tens of millions of workers.
-    
-            President Joe Biden soon after the announcement said, “The FTC is cracking down on ‘non-compete agreements,’ contracts that employers use to prevent their workers from changing jobs even if that job will pay a few dollars more, or provide better working conditions. Workers ought to have the right to choose who they want to work for.”
-    
-            The FTC’s decision was the result of a 3-to-2 vote among its five commissioners Tuesday afternoon. The two commissioners who dissented from the majority said they believed the rule to be “unlawful” and “won’t survive legal challenge.” The US Chamber of Commerce has already said it will sue the FTC as early as this week for what it views as the agency exceeding its administrative authority.
-    
-            The FTC estimates that 30 million people – one in five US workers – are bound by a noncompete clause in their current jobs. And for most of them, the agency asserts, such a clause restricts them from freely switching jobs, lowers wages, stifles innovation, blocks entrepreneurs from starting new businesses and undermines fair competition.
-    
-            The final rule is a somewhat narrower version of the proposed rule that the agency put out for public comment in January of 2023.
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-            It will ban for-profit employers from issuing new noncompetes to anyone.
-    
-            And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register.
-    
-            The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force. Senior executives are defined as workers earning more than $151,164 annually who also are in a “policy-making position.”
-    
-            An FTC staff member presenting the final rule to the commissioners during Tuesday’s meeting characterized noncompete agreements as “exploitative and coercive” for employees other than senior executives. Typically, senior executives are more likely to have a lawyer represent them in contract negotiations and secure compensation in exchange for signing a noncompete agreement. Whereas rank-and-file employees normally don’t negotiate such agreements, which may be presented to them along with other paperwork on their first day on the job.
-    
-            The FTC contends that businesses seeking to protect their trade secrets and other confidential information can do so through the use of confidentiality clauses.
-    
-            The ban would apply nationwide, overriding state laws regarding noncompete agreements. Currently three states (California, North Dakota and Oklahoma) plus Washington, D.C., already have near-complete bans on the books, while some other states – such as Colorado, Maryland, Oregon and Rhode Island – allow them but only within certain parameters, such as limiting them to high-wage earners, said Stefanie Camfield, assistant general counsel at Engage PEO, a human resources services firm.
-    
-            The FTC estimates that its ban would boost wages and benefits by up to $488 billion over a decade.
-    
-            Employment lawyers expect there to be legal pushback from employers and business groups that may delay enforcement of the rule while it is challenged in court, and possibly prevent it from ever going into effect if those suing the FTC prevail.
-    
-            Daryl Joseffer, chief counsel of the U.S. Chamber’s Litigation Center, characterized the FTC rule banning noncompetes as an “administrative power grab.” “They’re trying to regulate a century-old business practice across the entire economy,” Joseffer said.
-    
-            If the rule is allowed to stand, it opens “a pandora’s box, where they can micromanage any aspect of the economy,” the Chamber’s chief policy officer, Neil Bradley, asserted.
-    
-            In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.
-    
-            A nationwide ban on noncompete clauses can make things easier for rank-and-file workers who want to change jobs and not fear retaliation from their former employer.
-    
-            “Having a bright line saying you can’t do it at all would be a major help to employees,” said employee-side attorney Anne Clark at Vladeck, Raskin & Clark P.C.
-    
-            But unless and until a nationwide ban goes into effect, any employee who has already signed a noncompete or is being asked to do so should understand the contours of it.
-    
-            “Understand what you’re being asked to sign. And if you don’t, ask questions,” said Amanda Wait, a partner at the law firm DLA Piper and a former lawyer with the FTC.
-    
-            You might start by checking the particulars of the law in your state governing employee agreements and what, if any prohibitions there are on employers. You might also consult with an attorney to help you interpret your noncompete, since courts may use a lot of different factors in determining whether a noncompete is unfairly restrictive, Clark said.
-    
-            This story has been updated with additional information.",CNN,23/04/2024,"['The Federal Trade Commission on Tuesday voted to ban for-profit US employers from making employees sign agreements with noncompete clauses.', 'Such a ban could affect tens of millions of workers.', 'President Joe Biden soon after the announcement said, “The FTC is cracking down on ‘non-compete agreements,’ contracts that employers use to prevent their workers from changing jobs even if that job will pay a few dollars more, or provide better working conditions.', 'Workers ought to have the right to choose who they want to work for.”', 'The FTC’s decision was the result of a 3-to-2 vote among its five commissioners Tuesday afternoon.', 'The two commissioners who dissented from the majority saidthey believed the rule to be “unlawful” and “won’t survive legal challenge.”', 'The US Chamber of Commerce has already said it will sue the FTC as early as this week for what it views as the agency exceeding its administrative authority.', 'The FTC estimates that 30 million people – one in five US workers – are bound by a noncompete clause in their current jobs.', 'And for most of them, the agency asserts, such a clause restricts them from freely switching jobs, lowers wages, stifles innovation, blocks entrepreneurs from starting new businesses and undermines fair competition.', 'The final rule is a somewhat narrower version of the proposed rule that the agency put out for public comment in January of 2023.', 'It will ban for-profit employers from issuing new noncompetes to anyone.', 'And – with one exception – it makes currently existing noncompete agreements unenforceable after the rule’s effective date, which is set at 120 days from the rule’s publication in the Federal Register.', 'The rule, however, does allow currently existing noncompete agreements for senior executives to remain in force.', 'Senior executives are defined as workers earning more than $151,164 annually who also are in a “policy-making position.”', 'An FTC staff member presenting the final rule to the commissioners during Tuesday’s meeting characterized noncompete agreements as “exploitative and coercive” for employees other than senior executives.', 'Typically, senior executives are more likely to have a lawyer represent them in contract negotiations and secure compensation in exchange for signing a noncompete agreement.', 'Whereas rank-and-file employees normally don’t negotiate such agreements, which may be presented to them along with other paperwork on their first day on the job.', 'The FTC contends that businesses seeking to protect their trade secrets and other confidential information can do so through the use of confidentiality clauses.', 'The ban would apply nationwide, overriding state laws regarding noncompete agreements.', 'Currently three states (California, North Dakota and Oklahoma) plus Washington, D.C., already have near-complete bans on the books, while some other states – such as Colorado, Maryland, Oregon and Rhode Island – allow them but only within certain parameters, such as limiting them to high-wage earners, saidStefanie Camfield, assistant general counsel atEngage PEO, a human resources services firm.', 'The FTC estimates that its ban would boost wages and benefits by up to $488 billion over a decade.', 'Employment lawyers expect there to be legal pushback from employers and business groups that may delay enforcement of the rule while it is challenged in court, and possibly prevent it from ever going into effect if those suing the FTC prevail.', 'Daryl Joseffer, chief counsel of the U.S. Chamber’s Litigation Center,characterized the FTC rule banning noncompetes as an “administrative power grab.” “', 'They’re trying to regulate a century-old business practice across the entire economy,” Joseffer said.', 'If the rule is allowed to stand, it opens “a pandora’s box, where they can micromanage any aspect of the economy,” the Chamber’s chief policy officer, Neil Bradley, asserted.', 'In December of last year, New York State Governor Kathleen Hochul vetoed a bill passed by the state legislature to completely ban noncompete agreements in that state.', 'A nationwide ban on noncompete clauses can make things easier for rank-and-file workers who want to change jobs and not fear retaliation from their former employer.', '“Having a bright line saying you can’t do it at all would be a major help to employees,”said employee-side attorney Anne Clark atVladeck, Raskin & Clark P.C.  But unless and until a nationwide ban goes into effect, any employee who has already signed a noncompete or is being asked to do so should understand the contours of it.', '“Understand what you’re being asked to sign.', 'And if you don’t, ask questions,” said Amanda Wait, a partner at the law firm DLA Piper and a former lawyer with the FTC.', 'You might start by checking the particulars of the law in your state governing employee agreements and what, if any prohibitions there are on employers.', 'You might also consult with an attorney to help you interpret your noncompete, since courts may use a lot of different factors in determining whether a noncompete is unfairly restrictive, Clark said.', 'This story has been updated with additional information.']",0.0882771723727758,"Typically, senior executives are more likely to have a lawyer represent them in contract negotiations and secure compensation in exchange for signing a noncompete agreement.",Such a ban could affect tens of millions of workers.,-0.3989237709478898,The FTC estimates that its ban would boost wages and benefits by up to $488 billion over a decade.,"And for most of them, the agency asserts, such a clause restricts them from freely switching jobs, lowers wages, stifles innovation, blocks entrepreneurs from starting new businesses and undermines fair competition.",2024-04-24
-"Delta Air Lines gives staff another 5% raise, hikes starting wages to $19 an hour",https://www.cnbc.com/2024/04/22/delta-air-lines-gives-staff-another-5percent-raise-hikes-starting-wages.html,2024-04-22T16:44:57+0000,"In this articleDelta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season.The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others. It does not apply to pilots, who are unionized and ratified a contract last year for big pay increases after stagnant wages during the Covid-19 pandemic. The Association of Flight Attendants-CWA launched a unionization campaign of Delta's cabin crew in late 2019.Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022. With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.",CNBC,22/04/2024,"[""In this articleDelta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season."", 'The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others.', 'It does not apply to pilots, who are unionized and ratified a contract last year for big pay increases after stagnant wages during the Covid-19 pandemic.', ""The Association of Flight Attendants-CWA launched a unionization campaignof Delta's cabin crew in late 2019.Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022."", 'With the new raises, starting pay at Delta\'s mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.']",0.2194925260706897,"With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.",,0.9956348538398744,"With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.""With this increase in base pay and starting rates, we continue our commitment to provide Delta people with industry-leading total compensation for industry-leading performance,"" CEO Ed Bastian said in a memo to staff on Monday.",,2024-04-24
-JPMorgan Chase is caught in U.S-Russia sanctions war after overseas court orders $440 million seized from bank,https://www.cnbc.com/2024/04/24/jpmorgan-chase-is-caught-in-us-russia-sanctions-war-after-overseas-court-orders-440-million-seized-from-bank.html,2024-04-24T22:24:46+0000,"In this articleA Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.The court ordered the seizure of funds in JPMorgan's Russian accounts and ""movable and immovable property,"" including the bank's stake in a Russian subsidiary, according to a court order published Wednesday.The order came after VTB filed a suit last week in a St. Petersburg arbitration court, seeking to be made whole for funds frozen in the U.S., and asking for relief because JPMorgan has said it plans to exit Russia.The next hearing in the Russian case is July 17.JPMorgan declined to comment. VTB did not immediately respond to CNBC's request for comment.The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests. JPMorgan is the biggest U.S. bank by assets and run by veteran CEO Jamie Dimon.  Two years after Russia invaded Ukraine, the Biden administration has mounted an unprecedented set of sanctions, oil price caps and trade restrictions designed to weaken Moscow's military machine.On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million.This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.The American bank, seeking to block VTB's effort, said the Russian company broke its contractual promise to seek relief in American courts, instead finding a friendlier venue in Russia.JPMorgan said Russian courts have enabled similar efforts by Russian lenders against American or European banks at least a half dozen other times.JPMorgan said it faced ""certain and irreparable harm"" from VTB's efforts.",CNBC,24/04/2024,"['In this articleA Russian court sided with state-run lender VTB Bank in its efforts to recoup $439.5 million from JPMorgan Chase that the American lender froze in U.S. accounts after the Ukraine invasion.', 'The court ordered the seizure of funds in JPMorgan\'s Russian accounts and ""movable and immovable property,"" including the bank\'s stake in a Russian subsidiary, according to a court order published Wednesday.', 'The order came after VTB filed a suit last week in a St. Petersburg arbitration court, seeking to be made whole for funds frozen in the U.S., and asking for relief because JPMorgan has said it plans to exit Russia.', 'The next hearing in the Russian case is July 17.JPMorgan declined to comment.', ""VTB did not immediately respond to CNBC's request for comment."", 'The order was the latest example of American banks getting caught between the demands of Western sanctions regimes and overseas interests.', 'JPMorgan is the biggest U.S. bank by assets and run by veteran CEO Jamie Dimon.', ""Two years after Russia invaded Ukraine, the Biden administration has mounted an unprecedented set of sanctions, oil price caps and trade restrictions designed to weaken Moscow's military machine."", 'On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.', ""In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million."", 'This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.', ""The American bank, seeking to block VTB's effort, said the Russian company broke its contractual promise to seek relief in American courts, instead finding a friendlier venue in Russia."", 'JPMorgan said Russian courts have enabled similar efforts by Russian lenders against American or European banks at least a half dozen other times.', 'JPMorgan said it faced ""certain and irreparable harm"" from VTB\'s efforts.']",0.0204917561348164,"On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.","In its own lawsuit against VTB last week in the Southern District of New York, JPMorgan sought to block VTB's effort, noting that U.S. law prohibits the bank from releasing VTB's $439.5 million.",-0.0723157450556755,"On Wednesday, President Joe Biden signed into law a sweeping foreign aid bill that includes new powers for U.S. officials to locate and seize Russian assets in the U.S. It also boosted an ongoing American effort to convince European allies to release Russian state assets to assist Ukraine.","This leaves JPMorgan exposed to a nearly half-billion-dollar loss, for abiding by U.S. sanctions.",2024-04-24
-"How much money is the UK government borrowing, and does it matter?",https://www.bbc.co.uk/news/business-50504151,2019-11-21T15:27:10.000Z,"The government generally spends more than it raises in tax. To fill this gap it borrows money, but that has to be paid back - with interest - and that can influence wider tax and spending plans.  The government gets most of its income from taxes. For example, workers pay income tax, everyone pays VAT on certain goods, and companies pay tax on their profits. It could, in theory, cover all of its spending from taxes, and in some years that happens. But if it can't, it will cover the gap by raising taxes, cutting spending or borrowing. Higher taxes mean people have less money to spend, so businesses make less profit, which can be bad for jobs and wages. Lower profits also mean companies pay less tax. So, governments often borrow to boost the economy. They also borrow to pay for big projects - such as new railways and roads - which they hope will help the economy. The government borrows money by selling financial products called bonds. A bond is a promise to pay money in the future. Most require the borrower to make regular interest payments over the bond's lifetime.  UK government bonds - known as ""gilts"" - are normally considered very safe, with little risk the money will not be repaid. Gilts are mainly bought by financial institutions in the UK and abroad, such as pension funds, investment funds, banks and insurance companies.  The Bank of England has also bought hundreds of billions of pounds' worth of government bonds in the past to support the economy, through a process called ""quantitative easing"". The amount the government borrows varies from month to month.  For instance, when people submit tax returns in January, they often pay a large chunk of their annual tax bill in one go, so the government sees a jump in the amount of money it takes in.  So it is more helpful to look at the whole year, or the year-to-date. In the year to March, the government borrowed £120.7bn. While it was lower than the previous year, it was £6.6bn more than the government's forecaster predicted. Borrowing in March alone stood at £11.9bn, which was £4.7bn less than a year earlier. The total amount the government owes is called the national debt. It is currently about £2.7 trillion. That is roughly the same as the value of all the goods and services produced in the UK in a year, known as the gross domestic product, or GDP. That current level is more than double what was seen from the 1980s through to the financial crisis of 2008.  The combination of the financial crash and the Covid pandemic pushed the UK's debt up from those historic lows to its current level. But in relation to the size of the economy, UK debt figures are still low compared with much of the last century, and also compared with some other leading economies. The larger the national debt gets, the more interest the government has to pay.  That extra cost was not as big when the interest rates due were low through the 2010s, but it is more noticeable now that interest rates have been rising. Around a quarter of UK debt is index-linked, meaning payments are directly linked to the rate of inflation. Rising prices in the last two years have pushed up the bill for servicing debt significantly. If the government has to set aside more cash for paying its debts, it may mean it has less to spend on the public services which it borrowed to fund in the first place.  The amount of interest the government pays on national debt fluctuates, and by one measure, hit a 20-year high in early October 2023. The most significant figures tracking the cost of debt are published monthly by the Office for National Statistics (ONS). According to this data, two months in 2022 saw record levels of money set aside for debt interest: £20.2bn in June and £18bn in December.  June 2023 saw the third largest monthly amount - £13.1bn. The most recent figure for March revealed interest on government debt was £2.5bn.  Chancellor Jeremy Hunt has previously said the government will take ""difficult but responsible"" decisions on the public finances. He previously blamed the ""twin global emergencies of a pandemic and Putin's war in Ukraine"" for driving up government costs. The chancellor has set a target of getting underlying debt to fall in five years' time. In the Budget in March, the chancellor said the government was on track to meet the debt target. The government's official economic forecaster, the Office for Budget Responsibility (OBR) predicted that debt will fall as a share of the economy to 92.9% in 2028-29. Prime Minister Rishi Sunak has made reducing the national debt one of his five key promises and government finances will be a key focus in the run-up to a General Election. Some economists fear the government is borrowing too much, at too great a cost. Others argue extra borrowing helps the economy grow faster - generating more tax revenue in the long run. With measures such as a cut in National Insurance announced at the March Budget, the OBR expects borrowing to rise slightly in the next financial year, before remaining in line with previous forecasts.  It would fall below 3% of GDP by 2025-26, meeting one of the financial rules the government has decided to set itself.  But the OBR has previously warned that public debt could soar as the population ages and tax income falls. In an ageing population, the proportion of people of working age drops, meaning the government takes less in tax while paying out more in pensions.  In its latest forecasts in March, the OBR said debt, measured against the size of the economy, is still set to rise over the next four years, before falling back marginally in the fifth year. Other economists argue that big economies like the UK could borrow much more than they currently do, and the negative impact is greatly exaggerated. The deficit is the gap between the government's income and the amount it spends. When a government spends less than its income, it has what is known as a surplus.  Debt is the total amount of money owed by the government that has built up over years.  It rises when there is a deficit, and falls in those years when there is a surplus.   ",BBC,21/11/2019,"['The government generally spends more than it raises in tax.', 'To fill this gap it borrows money, but that has to be paid back - with interest - and that can influence wider tax and spending plans.', 'The government gets most of its income from taxes.', 'For example, workers pay income tax, everyone pays VAT on certain goods, and companies pay tax on their profits.', 'It could, in theory, cover all of its spending from taxes, and in some years that happens.', ""But if it can't, it will cover the gap by raising taxes, cutting spending or borrowing."", 'Higher taxes mean people have less money to spend, so businesses make less profit, which can be bad for jobs and wages.', 'Lower profits also mean companies pay less tax.', 'So, governments often borrow to boost the economy.', 'They also borrow to pay for big projects - such as new railways and roads - which they hope will help the economy.', 'The government borrows money by selling financial products called bonds.', 'A bond is a promise to pay money in the future.', ""Most require the borrower to make regular interest payments over the bond's lifetime."", 'UK government bonds - known as ""gilts"" - are normally considered very safe, with little risk the money will not be repaid.', 'Gilts are mainly bought by financial institutions in the UK and abroad, such as pension funds, investment funds, banks and insurance companies.', 'The Bank of England has also bought hundreds of billions of pounds\' worth of government bonds in the past to support the economy, through a process called ""quantitative easing"".', 'The amount the government borrows varies from month to month.', 'For instance, when people submit tax returns in January, they often pay a large chunk of their annual tax bill in one go, so the government sees a jump in the amount of money it takes in.', 'So it is more helpful to look at the whole year, or the year-to-date.', 'In the year to March, the government borrowed £120.7bn.', ""While it was lower than the previous year, it was £6.6bn more than the government's forecaster predicted."", 'Borrowing in March alone stood at £11.9bn, which was £4.7bn less than a year earlier.', 'The total amount the government owes is called the national debt.', 'It is currently about £2.7 trillion.', 'That is roughly the same as the value of all the goods and services produced in the UK in a year, known as the gross domestic product, or GDP.', 'That current level is more than double what was seen from the 1980s through to the financial crisis of 2008.', ""The combination of the financial crash and the Covid pandemic pushed the UK's debt up from those historic lows to its current level."", 'But in relation to the size of the economy, UK debt figures are still low compared with much of the last century, and also compared with some other leading economies.', 'The larger the national debt gets, the more interest the government has to pay.', 'That extra cost was not as big when the interest rates due were low through the 2010s, but it is more noticeable now that interest rates have been rising.', 'Around a quarter of UK debt is index-linked, meaning payments are directly linked to the rate of inflation.', 'Rising prices in the last two years have pushed up the bill for servicing debt significantly.', 'If the government has to set aside more cash for paying its debts, it may mean it has less to spend on the public services which it borrowed to fund in the first place.', 'The amount of interest the government pays on national debt fluctuates, and by one measure, hit a 20-year high in early October 2023.', 'The most significant figures tracking the cost of debt are published monthly by the Office for National Statistics (ONS).', 'According to this data, two months in 2022 saw record levels of money set aside for debt interest: £20.2bn in June and £18bn in December.', 'June 2023 saw the third largest monthly amount - £13.1bn.', 'The most recent figure for March revealed interest on government debt was £2.5bn.', 'Chancellor Jeremy Hunt has previously said the government will take ""difficult but responsible"" decisions on the public finances.', 'He previously blamed the ""twin global emergencies of a pandemic and Putin\'s war in Ukraine"" for driving up government costs.', ""The chancellor has set a target of getting underlying debt to fall in five years' time."", 'In the Budget in March, the chancellor said the government was on track to meet the debt target.', ""The government's official economic forecaster, the Office for Budget Responsibility (OBR) predicted that debt will fall as a share of the economy to 92.9% in 2028-29."", 'Prime Minister Rishi Sunak has made reducing the national debt one of his five key promises and government finances will be a key focus in the run-up to a General Election.', 'Some economists fear the government is borrowing too much, at too great a cost.', 'Others argue extra borrowing helps the economy grow faster - generating more tax revenue in the long run.', 'With measures such as a cut in National Insurance announced at the March Budget, the OBR expects borrowing to rise slightly in the next financial year, before remaining in line with previous forecasts.', 'It would fall below 3% of GDP by 2025-26, meeting one of the financial rules the government has decided to set itself.', 'But the OBR has previously warned that public debt could soar as the population ages and tax income falls.', 'In an ageing population, the proportion of people of working age drops, meaning the government takes less in tax while paying out more in pensions.', 'In its latest forecasts in March, the OBR said debt, measured against the size of the economy, is still set to rise over the next four years, before falling back marginally in the fifth year.', 'Other economists argue that big economies like the UK could borrow much more than they currently do, and the negative impact is greatly exaggerated.', ""The deficit is the gap between the government's income and the amount it spends."", 'When a government spends less than its income, it has what is known as a surplus.', 'Debt is the total amount of money owed by the government that has built up over years.', 'It rises when there is a deficit, and falls in those years when there is a surplus.']",-0.0570329207085568,"The Bank of England has also bought hundreds of billions of pounds' worth of government bonds in the past to support the economy, through a process called ""quantitative easing"".","He previously blamed the ""twin global emergencies of a pandemic and Putin's war in Ukraine"" for driving up government costs.",0.017290283526693,"For instance, when people submit tax returns in January, they often pay a large chunk of their annual tax bill in one go, so the government sees a jump in the amount of money it takes in.","While it was lower than the previous year, it was £6.6bn more than the government's forecaster predicted.",2024-04-24
-E.W. Scripps exploring sale of Black-culture broadcast network Bounce TV,https://www.cnbc.com/2024/04/23/ew-scripps-exploring-sale-of-black-culture-broadcast-network-bounce-tv.html,2024-04-23T20:06:23+0000,"In this articleE.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell. Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview. If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.E.W. Scripps trades for about $3.70 per share at a market valuation of roughly $315 million. The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.Symson declined to comment on the names of the bidders or the potential price for Bounce TV. People familiar with the process said a deal could happen around mid-year or the third quarter.""The number of inbounds and conversations that we have had with interested and qualified potential suitors has picked up significantly over the last year,"" Symson said. ""The earlier BET process, which was never consummated, may have opened up people's eyes to the power of Bounce.""Some advertising agencies and big brands earmark some spending specifically for minority-controlled businesses, Symson said, which can increase the value of media assets if they're sold from conglomerates to Black owners. He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators.Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications.Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content. All content is geared to African American audiences. Bounce TV's ""Johnson,"" a dramedy created by Deji LaRay, is entering its fourth season. The network is also launching a new comedy series, ""Mind Your Business,"" that premieres June 1.Ratings for Bounce TV have improved in recent years, even as legacy media has struggled. In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said. About 70% of Bounce TV's audience is over the air. The other 30% is derived through pay TV and streaming, he said.While Symson declined to give specifics about Bounce TV's finances, he said the company has doubled the network's revenue since acquiring it as part of the takeover of Katz Networks for $302 million in 2017.  Scripps operates a portfolio of more than 60 stations in more than 40 U.S. markets.",CNBC,23/04/2024,"['In this articleE.W. Scripps, one of the largest local TV broadcasters in the U.S., has hired a financial advisor to evaluate inbound interest in acquiring Bounce TV, its over-the-air network geared toward African Americans, according to Scripps CEO Adam Symson.', 'The sale process comes after Paramount Global shopped around Black entertainment company BET Media Group last year, but ultimately decided not to sell.', 'Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview.', 'If Scripps pursues a deal, it hopes to attract a price tag in the hundreds of millions, according to people familiar with the matter.', 'E.W. Scripps trades for about $3.70 per share at a market valuation of roughly $315 million.', 'The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.', 'Symson declined to comment on the names of the bidders or the potential price for Bounce TV.', 'People familiar with the process said a deal could happen around mid-year or the third quarter.', '""The number of inbounds and conversations that we have had with interested and qualified potential suitors has picked up significantly over the last year,"" Symson said. ""', ""The earlier BET process, which was never consummated, may have opened up people's eyes to the power of Bounce."", '""Some advertising agencies and big brands earmark some spending specifically for minority-controlled businesses, Symson said, which can increase the value of media assets if they\'re sold from conglomerates to Black owners.', 'He added a platform such as Bounce TV could also serve as a landing spot for a catalog of Black creators.', 'Scripps officials began telling Bounce TV employees about the inbound interest on Tuesday, according to a person familiar with the communications.', 'Bounce TV, which debuted in 2011, is a free over-the-air network that broadcasts a combination of syndicated shows, movies and original content.', 'All content is geared to African American audiences.', 'Bounce TV\'s ""Johnson,"" a dramedy created by Deji LaRay, is entering its fourth season.', 'The network is also launching a new comedy series, ""Mind Your Business,"" that premieres June 1.Ratings for Bounce TV have improved in recent years, even as legacy media has struggled.', 'In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said.', ""About 70% of Bounce TV's audience is over the air."", 'The other 30% is derived through pay TV and streaming, he said.', ""While Symson declined to give specifics about Bounce TV's finances, he said the company has doubled the network's revenue since acquiring it as part of the takeover of Katz Networks for $302 million in 2017."", 'Scripps operates a portfolio of more than 60 stations in more than 40 U.S. markets.']",0.2397046910172554,"Interested parties from that potential deal, many of them with Black leadership, have since approached Scripps with interest in owning Bounce TV, Symson said in an exclusive CNBC interview.",,0.6905460804700851,"In the first quarter, Bounce TV viewership was up 14% on linear and 9% on connected TVs, Symson said.",The stock is down more than 50% this year amid concerns over pay-TV cancellations that diminish the audience for broadcast networks.,2024-04-24
-Petrol prices on UK forecourts hit 150p a litre,https://www.bbc.co.uk/news/business-68881429,2024-04-23T11:07:19.000Z,"Petrol prices across the UK have hit an average 150.1p a litre, reaching the highest level since last November, according to the AA motoring group. Data also showed that average diesel prices rose to 158.3p a litre on Monday. Experts blamed a rise in oil prices because of tensions in the Middle East, as well as a weaker pound compared to the dollar. The AA predicted drivers would ""re-tighten their belts on other spending"". While overall inflation - which measures the pace of price rises - has eased, the cost of petrol and diesel both rose in March. ""Inflation has been heading downwards at quite some speed but petrol's rebound to 150p a litre leaves a big boulder in the road,"" said Luke Bosdet, the AA's spokesman on pump prices. Prices are based on data collected by the Competition and Markets Authority (CMA) from nearly 3,000 forecourts and analysed by market research firm Fuel Prices Online. Data showed that 28.1% of the forecourts were charging at least 150p per litre for petrol on Monday, up from 23.8% a week earlier. But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up ""may not get much worse in the short-term"". Oil prices have fallen after they spiked in the wake of Israel's retaliatory attack on Iran last week. Caroline Bain, chief commodities economist at Capital Economics, said: ""Given that there will be some lag between spot crude oil prices in financial markets and prices on the forecourt, the latest rise is perhaps not so surprising."" While Brent crude - a key benchmark for oil prices internationally - has receded from last week, it is still trading 13% higher at $87 per barrel compared to the start of the year.  Ms Bain said: ""We think that oil prices may well rise in the near-term if there is a further escalation of tensions in the Middle East, but that they will start to fall in the second half of this year."" RAC fuel spokesman Simon Williams said that drivers were ""really starting to feel pain at the pumps"" but he claimed much of that depended on the margin that retailers may decide to take. ""Higher margins always mean higher prices for drivers,"" he said. The competition watchdog cited concerns about higher retailer margins - the difference between what a retailer pay for its fuel and what it sells at - as recently as last month. In March, the CMA said that there had been a sustained increase in these margins which it found ""concerning"". It suggested that one of the key findings of a market study it published last year - that competition levels in the fuel market have weakened - was still valid. Concerns about the high price of fuel prompted the CMA to look into the sector and its study concluded that some retailers were overcharging. It found that motorists generally have to shop around themselves, keeping an eye out for the best prices while they are out and about. The government responded to the study by proposing the ""Pumpwatch"" scheme to ensure that fuel prices were updated in near real-time, so motorists can compare prices via price comparison websites, satnavs and navigation apps. A consultation on the schemeis still ongoing. ",BBC,23/04/2024,"['Petrol prices across the UK have hit an average 150.1p a litre, reaching the highest level since last November, according to the AA motoring group.', 'Data also showed that average diesel prices rose to 158.3p a litre on Monday.', 'Experts blamed a rise in oil prices because of tensions in the Middle East, as well as a weaker pound compared to the dollar.', 'The AA predicted drivers would ""re-tighten their belts on other spending"".', 'While overall inflation - which measures the pace of price rises - has eased, the cost of petrol and diesel both rose in March. ""', 'Inflation has been heading downwards at quite some speed but petrol\'s rebound to 150p a litre leaves a big boulder in the road,"" said Luke Bosdet, the AA\'s spokesman on pump prices.', 'Prices are based on data collected by the Competition and Markets Authority (CMA) from nearly 3,000 forecourts and analysed by market research firm Fuel Prices Online.', 'Data showed that 28.1% of the forecourts were charging at least 150p per litre for petrol on Monday, up from 23.8% a week earlier.', 'But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up ""may not get much worse in the short-term"".', ""Oil prices have fallen after they spiked in the wake of Israel's retaliatory attack on Iran last week."", 'Caroline Bain, chief commodities economist at Capital Economics, said: ""Given that there will be some lag between spot crude oil prices in financial markets and prices on the forecourt, the latest rise is perhaps not so surprising.""', 'While Brent crude - a key benchmark for oil prices internationally - has receded from last week, it is still trading 13% higher at $87 per barrel compared to the start of the year.', 'Ms Bain said: ""We think that oil prices may well rise in the near-term if there is a further escalation of tensions in the Middle East, but that they will start to fall in the second half of this year.""', 'RAC fuel spokesman Simon Williams said that drivers were ""really starting to feel pain at the pumps"" but he claimed much of that depended on the margin that retailers may decide to take. ""', 'Higher margins always mean higher prices for drivers,"" he said.', 'The competition watchdog cited concerns about higher retailer margins - the difference between what a retailer pay for its fuel and what it sells at - as recently as last month.', 'In March, the CMA said that there had been a sustained increase in these margins which it found ""concerning"".', 'It suggested that one of the key findings of a market study it published last year - that competition levels in the fuel market have weakened - was still valid.', 'Concerns about the high price of fuel prompted the CMA to look into the sector and its study concluded that some retailers were overcharging.', 'It found that motorists generally have to shop around themselves, keeping an eye out for the best prices while they are out and about.', 'The government responded to the study by proposing the ""Pumpwatch"" scheme to ensure that fuel prices were updated in near real-time, so motorists can compare prices via price comparison websites, satnavs and navigation apps.', 'A consultation on the schemeis still ongoing.']",-0.0446788775681815,"But Mr Bosdet predicted that fuel prices are unlikely to be elevated for long with wholesale costs easing a little in recent days, adding that filling up ""may not get much worse in the short-term"".","Caroline Bain, chief commodities economist at Capital Economics, said: ""Given that there will be some lag between spot crude oil prices in financial markets and prices on the forecourt, the latest rise is perhaps not so surprising.""",0.1335528923405541,Data also showed that average diesel prices rose to 158.3p a litre on Monday.,Oil prices have fallen after they spiked in the wake of Israel's retaliatory attack on Iran last week.,2024-04-24
-"Biogen tops profit estimates as cost cuts take hold, Alzheimer's drug Leqembi launch picks up",https://www.cnbc.com/2024/04/24/biogen-biib-earnings-q1-2024-.html,2024-04-24T14:26:32+0000,"In this articleBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected.Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July. The treatment's launch has been sluggish, but uptake appeared to accelerate towards the end of the first quarter.Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year. That blows past the $11 million analysts had expected, according to estimates compiled by FactSet. The number of patients on the therapy increased nearly 2.5 times since the end of 2023, according to Biogen. The company added that the number of new patients who started Leqembi jumped in March, making up more than 20% of the cumulative patients now on the treatment. Biogen did not provide a specific number of patients using Leqembi. But in February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi. Biogen and Eisai had previously aimed to treat 10,000 patients by March, but indicated in February that it would not meet the target.Biogen is seeing an ""awful lot of momentum"" in the Leqembi rollout and expects quarter-over-quarter growth in the number of patients, but that increase may not be linear, Viehbacher said during an earnings call Wednesday. He noted that Biogen plans to expand its U.S. marketing force by 30% to support Leqembi's launch.Bottlenecks related to Leqembi's requirements, such as twice-monthly infusions and regular brain scans, have slowed the uptake of the drug, he added.The company hopes the drug and other newly launched products will drive growth as it cuts costs and sees sales plummet for its multiple sclerosis therapies, some of which face generic competition.Shares of Biogen rose 6% on Wednesday following the results.Here's what Biogen reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The biotech company booked sales of $2.29 billion for the quarter, down 7% from the same period a year ago. It reported net income of $393.4 million, or $2.70 per share, for the first quarter, up from net income of $387.9 million, or $2.67 per share, for the same period a year ago. Adjusting for one-time items, the company reported earnings of $3.67 per share.Biogen reiterated its full-year 2024 adjusted earnings forecast of $15 to $16 per share. Analysts surveyed by LSEG had expected full-year earnings guidance of $15.49 per share. The company also reiterated its 2024 sales guidance of a low- to mid-single-digit percentage decline compared with last year.Apart from Leqembi, investors also have their eyes on other newly launched drugs. That includes Skyclarys, brought in by Biogen's acquisition of Reata Pharmaceuticals in July. That drug notched $78 million in first-quarter revenue.Analysts had expected sales of $68.8 million, according to FactSet estimates. The Food and Drug Administration cleared Skyclarys last year, making it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5. In February, European Union regulators approved Skyclarys for the treatment of Friedreich's ataxia in patients ages 16 and up. More than 1,100 patients in the U.S. and 300 in the EU are now taking Skyclarys, Biogen executives said during the earnings call on Wednesday.Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August. But the agency declined to clear the drug for major depressive disorder, which is a far larger market. Biogen said that pill, called Zurzuvae, generated first-quarter sales of $12 million. Analysts had expected just $5 million in sales of that drug, FactSet said.Meanwhile, Biogen's first-quarter revenue from multiple sclerosis products fell 4% to $1.08 billion as some of its therapies face competition from cheaper generics. The company's once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue of $254.3 million in the first quarter, down from $274.5 million from the same period a year ago. Still, that came in higher than analysts' estimate of $227.7 million, according to FactSet. Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $127.5 million in sales. That came in below analysts' estimates of $137.9 million, FactSet estimates said. Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago. Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $341.3 million in sales. That came under analysts' estimate of $415.1 million in revenue, according to FactSet. Biogen said the timing of Spinraza shipments and increased competition affected first-quarter revenue comparisons outside of the U.S.The company's biosimilar drugs booked $196.9 million in sales, up slightly from the $192.4 million reported during the year-earlier period. Analysts had expected sales of $192.5 million from those medicines.Correction: Skyclarys had $78 million in first-quarter revenue. An earlier version misstated the quarter.",CNBC,24/04/2024,"[""In this articleBiogen on Wednesday reported first-quarter profit that topped estimates as the company's cost-cutting efforts took hold and sales of its closely watched Alzheimer's drug, Leqembi, came in higher than expected."", ""Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July."", ""The treatment's launch has been sluggish, but uptake appeared to accelerate towards the end of the first quarter."", 'Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year.', 'That blows past the $11 million analysts had expected, according to estimates compiled by FactSet.', 'The number of patients on the therapy increased nearly 2.5 times since the end of 2023, according to Biogen.', 'The company added that the number of new patients who started Leqembi jumped in March, making up more than 20% of the cumulative patients now on the treatment.', 'Biogen did not provide a specific number of patients using Leqembi.', 'But in February, Biogen CEO Chris Viehbacher told reporters that there were around 2,000 patients currently on Leqembi.', 'Biogen and Eisai had previously aimed to treat 10,000 patients by March, but indicated in February that it would not meet the target.', 'Biogen is seeing an ""awful lot of momentum"" in the Leqembi rollout and expects quarter-over-quarter growth in the number of patients, but that increase may not be linear, Viehbacher said during an earnings call Wednesday.', ""He noted that Biogen plans to expand its U.S. marketing force by 30% to support Leqembi's launch."", ""Bottlenecks related to Leqembi's requirements, such as twice-monthly infusions and regular brain scans, have slowed the uptake of the drug, he added."", 'The company hopes the drug and other newly launched products will drive growth as it cuts costs and sees sales plummet for its multiple sclerosis therapies, some of which face generic competition.', 'Shares of Biogen rose 6% on Wednesday following the results.', ""Here's what Biogen reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:The biotech company booked sales of $2.29 billion for the quarter, down 7% from the same period a year ago."", 'It reported net income of $393.4 million, or $2.70 per share, for the first quarter, up from net income of $387.9 million, or $2.67 per share, for the same period a year ago.', 'Adjusting for one-time items, the company reported earnings of $3.67 per share.', 'Biogen reiterated its full-year 2024 adjusted earnings forecast of $15 to $16 per share.', 'Analysts surveyed by LSEG had expected full-year earnings guidance of $15.49 per share.', 'The company also reiterated its 2024 sales guidance of a low- to mid-single-digit percentage decline compared with last year.', 'Apart from Leqembi, investors also have their eyes on other newly launched drugs.', ""That includes Skyclarys, brought in by Biogen's acquisition of Reata Pharmaceuticals in July."", 'That drug notched $78 million in first-quarter revenue.', 'Analysts had expected sales of $68.8 million, according to FactSet estimates.', ""The Food and Drug Administration cleared Skyclarys last year, making it the first approved treatment for Friedreich's ataxia, a rare inherited degenerative disease that can impair walking and coordination in children as young as 5."", ""In February, European Union regulators approved Skyclarys for the treatment of Friedreich's ataxia in patients ages 16 and up."", 'More than 1,100 patients in the U.S. and 300 in the EU are now taking Skyclarys, Biogen executives said during the earnings call on Wednesday.', 'Biogen has also partnered with Sage Therapeutics on the first pill for postpartum depression, which won FDA approval in August.', 'But the agency declined to clear the drug for major depressive disorder, which is a far larger market.', 'Biogen said that pill, called Zurzuvae, generated first-quarter sales of $12 million.', 'Analysts had expected just $5 million in sales of that drug, FactSet said.', ""Meanwhile, Biogen's first-quarter revenue from multiple sclerosis products fell 4% to $1.08 billion as some of its therapies face competition from cheaper generics."", ""The company's once-blockbuster drug Tecfidera, which is facing competition from a generic rival, posted revenue of $254.3 million in the first quarter, down from $274.5 million from the same period a year ago."", ""Still, that came in higher than analysts' estimate of $227.7 million, according to FactSet."", 'Vumerity, an oral medication for relapsing forms of multiple sclerosis, generated $127.5 million in sales.', ""That came in below analysts' estimates of $137.9 million, FactSet estimates said."", ""Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago."", 'Spinraza, a medication used to treat a rare neuromuscular disorder called spinal muscular atrophy, recorded $341.3 million in sales.', ""That came under analysts' estimate of $415.1 million in revenue, according to FactSet."", ""Biogen said the timing of Spinraza shipments and increased competition affected first-quarter revenue comparisons outside of the U.S.The company's biosimilar drugs booked $196.9 million in sales, up slightly from the $192.4 million reported during the year-earlier period."", 'Analysts had expected sales of $192.5 million from those medicines.', 'Correction: Skyclarys had $78 million in first-quarter revenue.', 'An earlier version misstated the quarter.']",0.1486621680354227,Biogen and Eisai's Leqembi became the first drug found to slow the progression of Alzheimer's disease to win approval in the U.S. in July.,"But the agency declined to clear the drug for major depressive disorder, which is a far larger market.",0.3975433243645562,"Leqembi brought in about $19 million in sales for the quarter, up from the $10 million the drug generated last year.","Biogen's rare disease drugs recorded $423.9 million in sales, down from the $443.3 million in the same period a year ago.",2024-04-24
-What investors should know about the UAW's organizing drive of VW,https://www.cnbc.com/2024/04/22/uaw-vw-organizing-drive-what-investors-should-know.html,2024-04-22T20:21:56+0000,"In this articleDETROIT – The United Auto Workers notched a big win this weekend.Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking the Detroit union's first victory at a foreign-owned automaker plant in the South. The vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.""This is a really profound victory for the UAW and the labor movement in general,"" said Alex Hertel-Fernandez, a former Department of Labor official and an international and public affairs professor at Columbia University. ""It's also a really decisive victory.""Union organizing passed with 73% of the vote, or 2,628 workers, in support of the UAW, according to the National Labor Relations Board, which oversaw voting from Wednesday to Friday.The German automaker and union, barring any challenges to voting, are expected to move forward with bargaining over a contract for roughly 4,300 workers covered under the vote. The NLRB still needs to certify the results.Here's what investors should know about the vote and next steps for the UAW:The UAW saw the Friday vote as the union's best shot at organizing the VW plant following strikes and record contracts with General Motors, Ford Motor and Chrysler parent Stellantis in 2023.The union, led by President Shawn Fain, is using the deals with the Detroit automakers, which included record wage increases and benefits, as springboards for an unprecedented organizing drive of 13 non-union automakers in the U.S.Other than Volkswagen, the union is targeting: BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota and Volvo. The drive covers nearly 150,000 U.S. autoworkers, according to the UAW.""This is likely to be contagious,"" said Hertel-Fernandez. ""Where workers see successes in organizing or strikes, it tends to inspire further action in that industry and beyond it.""Next up for the union are 5,200 Mercedes-Benz workers at an SUV plant in Vance, Alabama. Workers at the facility earlier this month filed NLRB paperwork for a formal election that is scheduled for May 13 through May 17.""We're going to carry this fight on to Mercedes and everywhere else,"" Fain told VW workers Friday night following the historic vote. ""So, thank you all, thank you all for your fight, for your work. And let's get to it. Let's go to work. And let's win more for the working class all over this nation.""Top of the list of likely impacts from organizing efforts at VW is labor costs.UAW organizers used the record contracts with the Detroit automakers to gain support for the union in Chattanooga. UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.""But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive.GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW. Depending on contract details, labor pushes like VW and others could somewhat even that playing field.""Overall, given the substantial pay gap between UAW-unionized workers (Detroit-3) and non-unionized workers in the southern states, it can be assumed that the vote will lead to more upwards pressure on wages for VW over time,"" UBS said in an investor note.Before last year's contracts with the Detroit automakers, all-in labor costs for Ford, GM and Stellantis were between $63 and $67 an hour, according to industry experts. That compared with workers at non-domestic, or transplant, automakers such as VW at $55 an hour. Those costs included all benefits and health care costs.Still, there's no guarantee that VW – a much smaller automaker in the U.S. – will agree to the same terms as the traditional domestic automakers.Fain on Friday said ""the real fight begins now,"" referring to the expected negotiations between the union and VW.The VW vote was widely expected to be the easiest in the UAW's organizing plans, as the union had already established a presence there following votes that narrowly failed in 2019 and 2014.The margin of success in Chattanooga could bode well for UAW efforts at other automakers, according to Sharon Block, a professor at Harvard Law School and former DOL and NLRB official.""I think it's really hard to overestimate the importance of this moment and to overestimate just how strategic the UAW has been in this campaign, which I think suggests that this is not the last time that we're going to be talking about a UAW victory in an auto plant in the South,"" Block said.Though opposition during the VW vote was sparse, the most notable instance came a day before the election began, in the form of a letter from six Republican governors condemning the UAW's push to organize automotive factories in the South and warning of potential layoffs.""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states. These jobs have become part of the fabric of the automotive manufacturing industry. Unionization would certainly put our states' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" read the statement, which was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.Fewer jobs in the U.S. automotive industry also means fewer eligible workers for union membership.Membership with the UAW at the Detroit automakers has significantly fallen in recent decades, as free trade agreements allowed automakers to produce vehicles for cheaper elsewhere.UAW membership, largely made up of autoworkers but also including workers in agriculture and aerospace, peaked at 1.5 million in 1979. As of last year, the union's membership was 370,239 workers – down 3.3% from 2022 and 75% from its peak. Workers from the Detroit automakers only made up roughly 150,000 of that 2023 total.– CNBC's Michael Bloom contributed to this report.",CNBC,22/04/2024,"['In this articleDETROIT – The United Auto Workers notched a big win this weekend.', ""Volkswagen workers in Chattanooga, Tennessee, overwhelmingly voted in favor of joining the UAW late Friday – marking the Detroit union's first victory at a foreign-owned automaker plant in the South."", 'The vote could have wide-ranging impacts on other automakers, organized labor and the overall U.S. automotive industry.', '""This is a really profound victory for the UAW and the labor movement in general,"" said Alex Hertel-Fernandez, a former Department of Labor official and an international and public affairs professor at Columbia University. ""', ""It's also a really decisive victory."", '""Union organizing passed with 73% of the vote, or 2,628 workers, in support of the UAW, according to the National Labor Relations Board, which oversaw voting from Wednesday to Friday.', 'The German automaker and union, barring any challenges to voting, are expected to move forward with bargaining over a contract for roughly 4,300 workers covered under the vote.', 'The NLRB still needs to certify the results.', ""Here's what investors should know about the vote and next steps for the UAW:The UAW saw the Friday vote as the union's best shot at organizing the VW plant following strikes and record contracts with General Motors, Ford Motor and Chrysler parent Stellantis in 2023.The union, led by President Shawn Fain, is using the deals with the Detroit automakers, which included record wage increases and benefits, as springboards for an unprecedented organizing drive of 13 non-union automakers in the U.S.Other than Volkswagen, the union is targeting: BMW, Honda, Hyundai, Lucid, Mazda, Mercedes-Benz, Nissan, Rivian, Subaru, Tesla, Toyota and Volvo."", 'The drive covers nearly 150,000 U.S. autoworkers, according to the UAW.""This is likely to be contagious,"" said Hertel-Fernandez. ""', 'Where workers see successes in organizing or strikes, it tends to inspire further action in that industry and beyond it.', '""Next up for the union are 5,200 Mercedes-Benz workers at an SUV plant in Vance, Alabama.', 'Workers at the facility earlier this month filed NLRB paperwork for a formal election that is scheduled for May 13 through May 17.""We\'re going to carry this fight on to Mercedes and everywhere else,"" Fain told VW workers Friday night following the historic vote. ""', 'So, thank you all, thank you all for your fight, for your work.', ""And let's get to it."", ""Let's go to work."", ""And let's win more for the working class all over this nation."", '""Top of the list of likely impacts from organizing efforts at VW is labor costs.', 'UAW organizers used the record contracts with the Detroit automakers to gain support for the union in Chattanooga.', 'UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.', '""But for the Big Three Detroit automakers — and their shareholders — the VW organizing drive could be a positive.', 'GM, Ford and Stellantis have higher all-in labor costs than non-organized automakers such as VW.', 'Depending on contract details, labor pushes like VW and others could somewhat even that playing field.', '""Overall, given the substantial pay gap between UAW-unionized workers (Detroit-3) and non-unionized workers in the southern states, it can be assumed that the vote will lead to more upwards pressure on wages for VW over time,"" UBS said in an investor note.', ""Before last year's contracts with the Detroit automakers, all-in labor costs for Ford, GM and Stellantis were between $63 and $67 an hour, according to industry experts."", 'That compared with workers at non-domestic, or transplant, automakers such as VW at $55 an hour.', 'Those costs included all benefits and health care costs.', ""Still, there's no guarantee that VW – a much smaller automaker in the U.S. – will agree to the same terms as the traditional domestic automakers."", 'Fain on Friday said ""the real fight begins now,"" referring to the expected negotiations between the union and VW.The VW vote was widely expected to be the easiest in the UAW\'s organizing plans, as the union had already established a presence there following votes that narrowly failed in 2019 and 2014.The margin of success in Chattanooga could bode well for UAW efforts at other automakers, according to Sharon Block, a professor at Harvard Law School and former DOL and NLRB official.', '""I think it\'s really hard to overestimate the importance of this moment and to overestimate just how strategic the UAW has been in this campaign, which I think suggests that this is not the last time that we\'re going to be talking about a UAW victory in an auto plant in the South,"" Block said.', ""Though opposition during the VW vote was sparse, the most notable instance came a day before the election began, in the form of a letter from six Republican governors condemning the UAW's push to organize automotive factories in the South and warning of potential layoffs."", '""We have worked tirelessly on behalf of our constituents to bring good-paying jobs to our states.', 'These jobs have become part of the fabric of the automotive manufacturing industry.', 'Unionization would certainly put our states\' jobs in jeopardy — in fact, in this year already, all of the UAW automakers have announced layoffs,"" read the statement, which was signed by governors in Alabama, Georgia, Mississippi, South Carolina, Tennessee and Texas.', 'Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.', 'Fewer jobs in the U.S. automotive industry also means fewer eligible workers for union membership.', 'Membership with the UAW at the Detroit automakers has significantly fallen in recent decades, as free trade agreements allowed automakers to produce vehicles for cheaper elsewhere.', 'UAW membership, largely made up of autoworkers but also including workers in agriculture and aerospace, peaked at 1.5 million in 1979.', ""As of last year, the union's membership was 370,239 workers – down 3.3% from 2022 and 75% from its peak."", 'Workers from the Detroit automakers only made up roughly 150,000 of that 2023 total.–', ""CNBC's Michael Bloom contributed to this report.""]",0.1384780391661381,In this articleDETROIT – The United Auto Workers notched a big win this weekend.,"Block called the letter an ""empty threat"" and ""cynical ploy"" but noted that increased labor costs can result in fewer jobs.",0.208338725566864,In this articleDETROIT – The United Auto Workers notched a big win this weekend.,"UBS said in an investor note that VW has a relatively low operating margin in the U.S., and ""substantial pay increases could undermine the profitability outlook of the local US operations.",2024-04-24
-JetBlue shares tumble nearly 19% after airline lowers 2024 revenue outlook,https://www.cnbc.com/2024/04/23/jetblue-jblu-lowers-2024-revenue-outlook.html,2024-04-23T20:07:59+0000,"In this articleJetBlue Airways shares tumbled more than 18% Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected. New York-JetBlue forecast full-year sales would drop in the low single digits, also below Wall Street expectations, after estimating flat sales for the year in its January report.JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats. The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.""As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue's network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,"" Joanna Geraghty, who became CEO in February, said in an earnings release. ""We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again.""JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes.""It's definitely a big hinderance,"" Geraghty told CNBC of the engine issue. ""Pratt's a good partner. We're focused on trying to make progress on compensation with them. We're not where we need to be. ... But that is ultimately what is depressing our growth.""Geraghty said the airline expects lower capacity next year.In an investor presentation Tuesday, the airline said it was ""actively exploring"" more cost cuts. JetBlue earlier this year said it would defer $2.5 billion in aircraft spending until the end of the year.In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue's President, Marty St. George, who returned to the airline earlier this year.— CNBC's Phil LeBeau contributed to this report.",CNBC,23/04/2024,"['In this articleJetBlue Airways shares tumbled more than 18% Tuesday after the airline lowered its 2024 revenue forecast, a setback as it tries to return to profitability.', 'The carrier said second-quarter revenue would likely drop as much as 10.5% on the year, more than double the decline analysts polled by LSEG expected.', 'New York-JetBlue forecast full-year sales would drop in the low single digits, also below Wall Street expectations, after estimating flat sales for the year in its January report.', 'JetBlue has been on a cost-cutting spree, culling unprofitable routes, and focusing on those with steady demand and high sales for premium seats.', 'The carrier last month called off its merger agreement with budget carrier Spirit Airlines after a judge blocked that $3.8 billion deal on antitrust grounds.', 'The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.', '""As we look to the full year, significant elevated capacity in our Latin [America] region, which represents a large portion of JetBlue\'s network, will likely continue to pressure revenue and we expect a setback in our expectations for the full year,"" Joanna Geraghty, who became CEO in February, said in an earnings release. ""', 'We have full confidence that continuing to take action on our refocused standalone strategy is the right path forward to ultimately return to profitability again.', '""JetBlue is affected by a Pratt & Whitney engine recall that has grounded some of its planes.', '""It\'s definitely a big hinderance,"" Geraghty told CNBC of the engine issue. ""', ""Pratt's a good partner."", ""We're focused on trying to make progress on compensation with them."", ""We're not where we need to be. ..."", 'But that is ultimately what is depressing our growth.', '""Geraghty said the airline expects lower capacity next year.', 'In an investor presentation Tuesday, the airline said it was ""actively exploring"" more cost cuts.', 'JetBlue earlier this year said it woulddefer $2.5 billion in aircraft spendinguntil the end of the year.', 'In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.', 'Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.', 'Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue\'s President, Marty St. George, who returned to the airline earlier this year.—', ""CNBC's Phil LeBeau contributed to this report.""]",0.1087231275982441,"The outlook update Tuesday shows a growing divide between JetBlue and its larger rivals that have big international networks like Delta and United, which have forecast profits, strong revenue and record demand this summer.","In the first three months of the year, JetBlue lost $716 million, or $2.11 per share, compared with a loss of $192 million, or 58 cents a share, in the same period of 2023.Adjusting for one-time items, including break-up charges related to the failed Spirit merger, JetBlue lost $145 million, or 43 cents per share, narrower than the 52-cent adjusted loss analysts polled by LSEG expected.",-0.245643176138401,"Bright spots included strong demand in the peak travel period, domestic and Europe flights ""as well as continued outsized demand for our premium seating options,"" said JetBlue's President, Marty St. George, who returned to the airline earlier this year.—","Revenue dropped 5.1% from last year to $2.21 billion, matching LSEG revenue expectations.",2024-04-24
-Federal labor board has been much more pro-worker under Biden. Employers want courts to end that,https://edition.cnn.com/2024/04/23/business/starbucks-nlrb-supreme-court-labor-unions/index.html,"
-  Updated
-        1:06 PM EDT, Tue April 23, 2024
-    ","Starbucks and the National Labor Relations Board, the federal agency charged with protecting workers’ rights, will battle each other before the Supreme Court Tuesday, in one of numerous cases now pending in which major employers are questioning the NLRB’s powers and even its right to exist.
-    
-            The NLRB under the labor-friendly Biden administration has been overseeing a period of significantly more organizing and strike activities by the nation’s unions. Some high-profile companies are complaining that the agency is abusing its powers. The companies are asking federal courts, often with conservative, pro-business judges, to stop the agency from standing behind the more activist unions now making their lives more difficult.
-    
-            Tuesday’s Supreme Court case involves the NLRB’s powers to get employees whom it judges were wrongly fired for union activity immediately rehired, rather than forcing them to go through a long, drawn-out court process. At issue are seven employees Starbucks fired at a store in Memphis in 2022 that the union said were attempting to organize. The employees, known as the “Memphis 7,” have become a nationwide symbol for labor supporters.
-    
-            Starbucks is arguing that the NLRB’s powers are not being applied uniformly across the country because some federal courts, including the courts that reviewed the Memphis 7 case, are using what critics describe as a more lenient standard to force employers to take preliminary action. In this case, the lower courts required Starbucks to reinstate the employees it had fired.
-    
-            “The NLRB has long used the federal courts … to obtain injunctions … before the merits of an unfair labor practice case are fully evaluated,” said a statement from Starbucks. “As a company, we felt obligated to stand up for what is right, not only for our partners and our company, but also for the employers across the country who are subject to NLRB requests for injunctions in federal courts.”
-    
-            But the NLRB argues that the only way to protect workers who are improperly terminated for union activity is to allow it to go to federal court and get immediate action against the offending employer, as it successfully did in the case of the Memphis employees.
-    
-            “Injunctive relief is one of the most important tools available to the NLRB to protect workers’ statutory rights through effective enforcement of the only federal labor law in the country,” said Jennifer Abruzzo, the NLRB’s General Counsel, in a statement about the case.
-    
-            “Congress … has empowered the agency to seek this interim relief to immediately end violative conduct and restore the status quo at the workplace while the board’s administrative process proceeds,” Abruzzo said. “Without obtaining this temporary relief, the lawbreaker will fully reap the benefits of having violated workers’ rights — such as by snuffing out a nascent organizing drive — through the passage of time.”
-    
-            During arguments Tuesday, Starbucks’ attorney argued that the NLRB has too much power to get an injunction to order fired workers returned to work, without the district court getting to weigh evidence in the case itself.
-    
-            “Preliminary injunctions are extraordinary and drastic remedies,” said Lisa Blatt, a veteran Supreme Court litigator and Starbucks’ attorney in the case. “Such relief is highly inappropriate absent a clear showing.”
-    
-            Justice Ketanji Brown Jackson questioned how the NLRB could be abusing its powers, as Starbucks was arguing, given that there had been only 14 instances of the board seeking such injunctions in the last year out of the thousands of cases it considered.
-    
-            “If we’re worried about an abusive board doing things it’s not supposed to be [doing], giving undue deference, it seems like the board is pretty careful when it’s determining whether or not to even seek these injunctions since it’s only asked for it 14 times,” she said.
-    
-            But both conservative and liberal justices posed tough questions to the government, pressing the Biden administration’s attorney on why lower courts should review labor cases any differently than other controversies involving government agencies.
-    
-            “The district court is an independent check,” conservative Justice Amy Coney Barrett said. “So, it seems like it should be just doing what district courts do.”
-    
-            Justice Elena Kagan, a member of the court’s liberal wing, appeared to agree, suggesting that lower federal courts should do “what courts normally do, which is applying the law as the court finds it to a case.”
-    
-            Those questions appeared to cut against the arguments raised by the government that courts should give some special deference to the NLRB’s read on a dispute between employers and employees.
-    
-            Justice Neil Gorsuch, a conservative member of the court, pointed out that “in all sorts of alphabet soup agencies, we don’t do this. District courts apply the likelihood of success test as we generally perceive it. So why is this particular statutory regime different from so many others?”
-    
-            And Chief Justice John Roberts suggested that attorneys for both the government and Starbucks could agree, “we can dispose of this in a short opinion,” prompting laughter in the courtroom.
-    
-            The labor law that controls what happens if an employer illegally fires a worker for supporting a union doesn’t give the workers much in the way of relief. The employer could be forced to provide back pay for the time since the improper firing, but that amount would be reduced by whatever pay the worker received at a job they held in the meantime. The employer doesn’t have to pay any interest, penalty or fine, to the fired workers, their union or the agency.
-    
-            “The remedies against the employer are so pathetically weak they’re almost an invitation to violate the law,” said Cathy Creighton, an NLRB attorney during the Clinton administration and a union lawyer who now serves as the head of the Buffalo, New York office of Cornell University’s school of Industrial and Labor Relations.
-    
-            While this is the first such case to reach the Supreme Court, other cases are emerging in which some high profile employers are challenging the agency’s right to exist. The Supreme Court’s decision is expected by the end of June.
-    
-            Rocket company SpaceX filed two federal lawsuits so far this year questioning the constitutionality of the agency itself after the NLRB announced it was looking at complaints from eight former employees of the nonunion rocket company who said they were fired for writing company management begging them to publicly condemn CEO Elon Musk’s “harmful” behavior on social media.
-    
-            Three other companies — Starbucks, Amazon and Trader Joe’s — have raised similar arguments in cases still before the NLRB’s administrative law judges, although they have not taken the case to federal court as SpaceX has done and have not joined its suit.
-    
-            The constitutionality of the NLRB was upheld by the Supreme Court in 1937, two years after the agency was created during the New Deal, said Cornell’s Creighton.
-    
-            She said the Supreme Court’s rulings with the current conservative majority on some other cases involving unions makes her worried that it is poised to rule against the agency on this case. And she’s also worried that if the question of constitutionality of the NLRB were to reach the high court, it could rule against the agency as well.
-    
-            “They’re seeking to annihilate the board,” she said about the employers’ challenges to the NLRB. “I’m worried because this court is not ruled by precedent the way other courts have been. Just taking up the issue, they’re signaling they’re not particularly labor friendly.”",CNN,23/04/2024,"['Starbucks and the National Labor Relations Board, the federal agency charged with protecting workers’ rights, will battle each other before the Supreme Court Tuesday, in one of numerous cases now pending in which major employers are questioning the NLRB’s powers and even its right to exist.', 'The NLRB under the labor-friendly Biden administration has been overseeing a period of significantly more organizing and strike activities by the nation’s unions.', 'Some high-profile companies are complaining that the agency is abusing its powers.', 'The companies are asking federal courts, often with conservative, pro-business judges, to stop the agency from standing behind the more activist unions now making their lives more difficult.', 'Tuesday’s Supreme Court case involves the NLRB’s powers to get employees whom it judges were wrongly fired for union activity immediately rehired, rather than forcing them to go through a long, drawn-out court process.', 'At issue areseven employees Starbucks fired at a store in Memphis in 2022 that the union said were attempting to organize.', 'The employees, known as the “Memphis 7,” have become a nationwide symbol for labor supporters.', 'Starbucks is arguing that the NLRB’s powers are not being applied uniformly across the country because some federal courts, including the courts that reviewed the Memphis 7 case, are using what critics describe as amore lenient standard to force employers to take preliminary action.', 'In this case, the lower courts required Starbucks to reinstate the employees it had fired.', '“The NLRB has long used the federal courts … to obtain injunctions … before the merits of an unfair labor practice case are fully evaluated,” said a statement from Starbucks. “', 'As a company, we felt obligated to stand up for what is right, not only for our partners and our company, but also for the employers across the country who are subject to NLRB requests for injunctions in federal courts.”', 'But the NLRB argues that the only way to protect workers who are improperly terminated for union activity is to allow it to go to federal court and get immediate action against the offending employer, as it successfully did in the case of the Memphis employees.', '“Injunctive reliefis one of the most important tools available to the NLRB to protect workers’ statutory rights through effective enforcement of the only federal labor law in the country,” said Jennifer Abruzzo, the NLRB’s General Counsel, in a statement about the case.', '“Congress … has empowered the agency to seek this interim relief to immediately end violative conduct and restore the status quo at the workplace while the board’s administrative process proceeds,” Abruzzo said. “', 'Without obtaining this temporary relief, the lawbreaker will fully reap the benefits of having violated workers’ rights — such as by snuffing out a nascent organizing drive — through the passage of time.”', 'During arguments Tuesday, Starbucks’ attorney argued that the NLRB has too much power to get an injunction to order fired workers returned to work, without the district court getting to weigh evidence in the case itself.', '“Preliminary injunctions are extraordinary and drastic remedies,” said Lisa Blatt, a veteran Supreme Court litigator and Starbucks’ attorney in the case. “', 'Such relief is highly inappropriate absent a clear showing.”', 'Justice Ketanji Brown Jackson questioned howthe NLRBcould be abusing its powers, as Starbucks was arguing,given thatthere had been only 14 instances of the board seeking such injunctions in the last year out of the thousands of cases it considered.', '“If we’re worried about an abusive board doing things it’s not supposed to be [doing], giving undue deference, it seems like the board is pretty careful when it’s determining whether or not to even seek these injunctions since it’s only asked for it 14 times,” she said.', 'But both conservative and liberal justices posed tough questions to the government, pressing the Biden administration’s attorney on why lower courts should review labor cases any differently than other controversies involving government agencies.', '“The district court is an independent check,” conservative Justice Amy Coney Barrett said. “', 'So, it seems like it should be just doing what district courts do.”', 'Justice Elena Kagan, a member of the court’s liberal wing, appeared to agree, suggesting that lower federal courts should do “what courts normally do, which is applying the law as the court finds it to a case.”', 'Those questions appeared to cut against the arguments raised by the government that courts should give some special deference to the NLRB’s read on a dispute between employers and employees.', 'Justice Neil Gorsuch, a conservative member of the court, pointed out that “in all sorts of alphabet soup agencies, we don’t do this.', 'District courts apply the likelihood of success test as we generally perceive it.', 'So why is this particular statutory regime different from so many others?”', 'And Chief Justice John Roberts suggested that attorneys for both the government and Starbucks could agree, “we can dispose of this in a short opinion,” prompting laughter in the courtroom.', 'The labor law that controls what happens if an employer illegally fires a worker for supporting a union doesn’t give the workers much in the way of relief.', 'The employer could be forced to provide back pay for the time since the improper firing, but that amount would be reduced by whatever pay the worker received at a job they held in the meantime.', 'The employer doesn’t have to pay any interest, penalty or fine, to the fired workers, their union or the agency.', '“The remedies against the employer are so pathetically weak they’re almost an invitation to violate the law,” said Cathy Creighton, an NLRB attorney during the Clinton administration and a union lawyer who now serves as the head of the Buffalo, New York office of Cornell University’s school of Industrial and Labor Relations.', 'While this is the first such case to reach the Supreme Court, other cases are emerging in which some high profile employers are challenging the agency’s right to exist.', 'The Supreme Court’s decision is expected by the end of June.', 'Rocket company SpaceX filed two federal lawsuits so far this year questioning the constitutionality of the agency itself after the NLRB announced it was looking at complaints from eight former employees of the nonunion rocket company who said they were fired for writing company management begging them to publicly condemn CEO Elon Musk’s “harmful” behavior on social media.', 'Three other companies — Starbucks, Amazon and Trader Joe’s — have raised similar arguments in cases still before the NLRB’s administrative law judges, although they have not taken the case to federal court as SpaceX has done and have not joined its suit.', 'The constitutionality of the NLRB was upheld by the Supreme Court in 1937, two years after the agency was created during the New Deal, said Cornell’s Creighton.', 'She said the Supreme Court’s rulings with the current conservative majority on some other cases involving unions makes her worried that it is poised to rule against the agency on this case.', 'And she’s also worried that if the question of constitutionality of the NLRB were to reach the high court, it could rule against the agency as well.', '“They’re seeking to annihilate the board,” she said about the employers’ challenges to the NLRB. “', 'I’m worried because this court is not ruled by precedent the way other courts have been.', 'Just taking up the issue, they’re signaling they’re not particularly labor friendly.”']",0.0307183931533012,"And Chief Justice John Roberts suggested that attorneys for both the government and Starbucks could agree, “we can dispose of this in a short opinion,” prompting laughter in the courtroom.",Rocket company SpaceX filed two federal lawsuits so far this year questioning the constitutionality of the agency itself after the NLRB announced it was looking at complaints from eight former employees of the nonunion rocket company who said they were fired for writing company management begging them to publicly condemn CEO Elon Musk’s “harmful” behavior on social media.,-0.1780935376882553,"Without obtaining this temporary relief, the lawbreaker will fully reap the benefits of having violated workers’ rights — such as by snuffing out a nascent organizing drive — through the passage of time.”",She said the Supreme Court’s rulings with the current conservative majority on some other cases involving unions makes her worried that it is poised to rule against the agency on this case.,2024-04-24
-Why lab-grown diamond sales are surging,https://edition.cnn.com/2022/04/27/business/diamonds-manmade-demand/index.html,"
-  Published
-        7:49 AM EDT, Wed April 27, 2022
-    ","It’s proposal season, and engagements are on the rise. So are factory-made diamond sales.
-    
-            Not that you’d know the difference. Man-made diamonds look the same as naturally occurring ones. The only noticeable difference is the price tag.
-    
-            “The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.
-    
-            He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.
-    
-            Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings. 
-    
-            “The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said. Too late. “It’s actually happening.” 
-    
-            Why are consumers flocking to man-made diamonds? Cost is the most obvious reason. The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.
-    
-            “This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said. Plus, the lower cost allows couples to buy a bigger stone.
-    
-            “A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.” 
-    
-            This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.
-    
-            The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.
-    
-            Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds. Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.
-    
-            Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.
-    
-            Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.
-    
-            Although its slice is growing, the market share for man-made diamonds remains relatively small.
-    
-            Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan. 
-    
-            Some major jewelry retailers are driving the effort to take man-made diamonds mainstream. In 2021, the world’s largest jewelry company, Pandora
-            
-                (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry. 
-    
-            Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.
-    
-            Signet,
-            
-                (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.
-    
-            Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year. 
-    
-            The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand. 
-    
-            Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.
-    
-            “As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[Consumers] want to know the origins of their stones and be reassured they’re conflict-free. They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”
-    
-            Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues. It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.
-    
-            There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value. 
-    
-            So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan. Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it. 
-    
-            But the value of a ring isn’t just monetary.
-    
-            “As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “I always say, if you love it, be happy with it. An engagement ring is a symbol of commitment and enduring love.”",CNN,27/04/2022,"['It’s proposal season, and engagements are on the rise.', 'So are factory-made diamond sales.', 'Not that you’d know the difference.', 'Man-made diamonds look the same as naturally occurring ones.', 'The only noticeable difference is the price tag.', '“The result is really stunning,” said Edahn Golan, an independent diamond industry analyst.', 'He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.', 'Going back by another month, to February, the data showed the number of rings sold with lab diamonds that month surged even more, to 80% compared to a year earlier while the number fell by 13% for natural diamond engagement rings.', '“The big fear in the natural diamonds industry is that consumers will start accepting lab-grown diamonds in engagement rings,” he said.', 'Too late. “', 'It’s actually happening.”', 'Why are consumers flocking to man-made diamonds?', 'Cost is the most obvious reason.', 'The average retail price of the most popular one carat round man-made diamond for an engagement ring in March was $2,318, Golan said.', '“This is substantially less – as much as 73% cheaper – than a natural diamond of the same size, cut and clarity as the man-made diamond, which would cost $8,740,” he said.', 'Plus, the lower cost allows couples to buy a bigger stone.', '“A lab diamond is a real diamond, but maybe it took a few weeks to make it,” said Golan. “', 'Natural diamonds were formed over 800 million to three billion years and there isn’t an infinite supply of them.”', 'This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.', 'The sanctions directly target Alrosa, partly owned by the Russian government, which the US government identified as the world’s largest diamond mining company, accounting for 28% of global diamond output.', 'Man-made diamonds are also becoming popular as consumers are more aware and educated about them, said Dan Moran, a third-generation diamond expert and owner of LA-based fine jeweler Concierge Diamonds.', 'Moran said the typical buyer of man-made diamonds is typically younger than 40 and very budget conscious.', 'Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.', 'Among Millennials and Gen Z, their eco-conscious mindset and ethical concerns about natural diamond sourcing is another factor influencing their preference for non-traditional engagement rings, according to a report from wedding planning website The Knot.', 'Although its slice is growing, the market share for man-made diamonds remains relatively small.', 'Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.', 'Some major jewelry retailers are driving the effort to take man-made diamonds mainstream.', 'In 2021, the world’s largest jewelry company, Pandora  (PANDY), made a major shift by announcing it would stop using mined diamonds and would swap to lab-created diamonds in its jewelry.', 'Pandora said it’s instituting the change as part of an effort to sell sustainable jewelry, and also because consumers increasingly are asking for it.', 'Signet,  (SIG) the largest jewelry company in the United States (which owns Zales, Kay Jewelers and Jared chains) called out the popularity of lab diamond jewelry in its March earnings call with analysts.', 'Calling it a “fast-growing category” in its jewelry portfolio, Signet CEO Virginia Drosos told analysts that lab-created diamonds are among the big jewelry trends she expects this year.', 'The company said it has expanded its man-made bridal jewelry selection in both its Zales and Kay Jewelers stores in response to the increased demand.', 'Fine jewelry brand Charles and Colvard, which makes lab-created diamonds, said consumers don’t just want to look good with the jewelry they are wearing, they also want to feel good about it.', '“As the momentum for conscious consumerism grows, the surge towards lab grown diamonds isn’t surprising,” said Don O’Connell, president and CEO of Charles & Colvard. “[', 'Consumers] want to know the origins of their stones and be reassured they’re conflict-free.', 'They’re embracing the choice to purchase a piece of fine jewelry that aligns with their values.”', 'Lab-grown diamond brand VRAI said the pandemic, too, has sparked attention and action toward social and environmental issues.', 'It said consumers are being more thoughtful and reassessing their purchasing habits, as well as the companies and industries they are supporting.', 'There is, however, one important consideration for anyone buying lab-created diamonds: Man-made diamonds have little resale value.', 'So while you may not be able to tell a natural diamond from a factory made variety, someone with a trained eye can, said Golan.', 'Once a stone is identified as a factory diamond, even though you paid a lot less for it, you also won’t get much for it.', 'But the value of a ring isn’t just monetary.', '“As a professional in the industry, I am asked all the time by people about what I think about a ring they have,” said Moran, of Concierge Jewelers. “', 'I always say, if you love it, be happy with it.', 'An engagement ring is a symbol of commitment and enduring love.”']",0.3714494325159568,"He said March data showed the number of engagement rings sold that featured a manufactured diamond jumped 63% compared to last year, while the number of engagement rings sold with a natural diamond declined 25% in the same period.",Mined diamonds have a controversial history that’s tied to the use of child labor in some African diamond mines as well as sales of illegally-traded “conflict diamonds” that fund conflict in war-torn areas.,0.8542834222316742,"Currently, about 7% of the specialty diamond jewelry market is represented by man-made diamonds, up from 3% in 2020, said Golan.","This makes natural diamonds quite a bit more expensive, and prices are likely to rise as Russia’s invasion of Ukraine has tightened the supply chain for natural raw diamonds.",2024-04-24
-"Tesla’s earnings plunge, but the company promises cheaper car model",https://edition.cnn.com/2024/04/23/business/tesla-report-earnings-result/index.html,"
-  Updated
-        7:35 PM EDT, Tue April 23, 2024
-    ","Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year.
-    
-            The company reported a 9% drop in total revenue, which also missed analyst estimates. And its profit margin declined by 2 percentage points.
-    
-            But Tesla heartened some investors by announcing it plans to move ahead with a lower priced model, which it said will go into production in the second half of 2025.
-    
-            Tesla did not give much in the way of details about this new, lower-priced model it is promising, such as a target price or its production volumes. And CEO Elon Musk and Tesla have a history of not living up to timelines on vehicle launches. But the promise that it is still moving ahead with a lower-priced model was assuring news in the wake of reports that it would drop plans for the vehicle altogether.
-    
-            Musk seemed unexcited even talking about the new lower priced model, seeming to compare it to a horse-drawn carriage, and spending far more of the call with investors hyping Tesla’s promises far beyond its current or future electric vehicles. He once again cited the company’s artificial intelligence capabilities and its self-driving technology, which he predicted could be licensed to one or more rival automakers later this year. And he spoke of its plans for sentient humanoid robots, and his vision of a fleet of millions driverless “robotaxis” owned by a combination of Tesla and Tesla owners, moving passengers who will be as comfortable riding in a driverless car as they are walking onto an elevator today.
-    
-            “We really should be thought of as an AI-robotics company,” he said. “If you value Tesla as just an auto company, it’s just the wrong framework. If somebody doesn’t believe that Tesla will solve autonomy, I think they should not be an investor in the company.”
-    
-            It was a classic Musk call straight out of the earlier days of Tesla when the company was still struggling financiallly, promising paradigm shifting technological changes to get investors excited about the future.
-    
-            And to a degree, it worked, with the recently battered Tesla (TSLA) shares, which had lost 42% of their value so far this year through Tuesday’s close, rising 11% in after-market trading, despite the ugly financial performance reported for the first quarter.
-    
-            Tesla and Musk were eager to change the story around Tesla, not just away from disappointing first quarter financial results, but also from a sustained run of bad news. Earlier this month, it reported its first year-over-year decline in global sales since the pandemic and unveiled plans to cut more than 10% of its staff. It also continued its year-long series of price cuts, with the most recent coming last weekend.
-    
-            The drop in stock value has even some Tesla bulls worried about the future for the world’s most valuable automaker. But it is facing increasing competition from both established Western automakers — which are rolling out their own EV offerings — and Chinese automakers, which are offering low-priced EVs.
-    
-            In the final three months of last year, Tesla lost its title as the world’s largest EV maker to Chinese automaker BYD.
-    
-            After Reuters reported earlier this month that Tesla was dropping plans for a cheaper model, popularly referred to as the Tesla Model 2, because of competition from China, CEO Elon Musk tweeted “Reuters is lying (again),” without giving any details of the company’s plans. But in January, he did warn that Chinese automakers could ‘demolish’ rivals with low priced EVs.
-    
-            Tesla adjusted net income came in at $1.5 billion, or 45 cents a share. Analysts had been forecasting earnings per share of 49 cents. It was the smallest adjusted quarterly profit that Tesla had reported since the first quarter of 2021, when the pandemic and supply chain disruptions were still affecting results.
-    
-            The company also said it had negative cash flow of $2.5 billion, the first time it had burned through cash in a quarter since the first quarter of 2020 at the start of the pandemic.
-    
-            The company said it experienced numerous challenges in the first quarter, from the conflict in the Red Sea, which caused ships heading from Asia to Europe to take a longer path around Africa, to an arson attack at its plant in Germany and a gradual ramp up of the updated Model 3 at its plant in Fremont, California.",CNN,23/04/2024,"['Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year.', 'The company reported a 9% drop in total revenue, which also missed analyst estimates.', 'And its profit margin declined by 2 percentage points.', 'But Tesla heartened some investors by announcing it plans to move ahead with a lower priced model, which it said will go into production in the second half of 2025.', 'Tesla did not give much in the way of details about this new, lower-priced model it is promising, such as a target price or its production volumes.', 'And CEO Elon Musk and Tesla have a history of not living up to timelines on vehicle launches.', 'But the promise that it is still moving ahead with a lower-priced model was assuring news in the wake of reports that it would drop plans for the vehicle altogether.', 'Musk seemed unexcited even talking about the new lower priced model, seeming to compare it to a horse-drawn carriage, and spending far more of the call with investors hyping Tesla’s promises far beyond its current or future electric vehicles.', 'He once again cited the company’s artificial intelligence capabilities and its self-driving technology, which he predicted could be licensed to one or more rival automakers later this year.', 'And he spoke of its plans for sentient humanoid robots, and his vision of a fleet of millions driverless “robotaxis” owned by a combination of Tesla and Tesla owners, moving passengers who will be as comfortable riding in a driverless car as they are walking onto an elevator today.', '“We really should be thought of as an AI-robotics company,” he said. “', 'If you value Tesla as just an auto company, it’s just the wrong framework.', 'If somebody doesn’t believe that Tesla will solve autonomy, I think they should not be an investor in the company.”', 'It was a classic Musk call straight out of the earlier days of Tesla when the company was still struggling financiallly, promising paradigm shifting technological changes to get investors excited about the future.', 'And to a degree, it worked, with the recently battered Tesla (TSLA) shares, which had lost 42% of their value so far this year through Tuesday’s close,rising 11% in after-market trading, despite the ugly financial performance reported for the first quarter.', 'Tesla and Musk were eager to change the story around Tesla, not just away from disappointing first quarter financial results, but also from a sustained run of bad news.', 'Earlier this month, it reported its first year-over-year decline in global sales since the pandemic and unveiled plans to cut more than 10% of its staff.', 'It also continued its year-long series of price cuts, with the most recent coming last weekend.', 'The drop in stock value has even some Tesla bulls worried about the future for the world’s most valuable automaker.', 'But it is facing increasing competition from both established Western automakers — which are rolling out their own EV offerings — and Chinese automakers, which are offering low-priced EVs.', 'In the final three months of last year, Tesla lost its title as the world’s largest EV maker to Chinese automaker BYD.', 'After Reuters reported earlier this month that Tesla was dropping plans for a cheaper model, popularly referred to as the Tesla Model 2, because of competition from China, CEO Elon Musk tweeted “Reuters is lying (again),” without giving any details of the company’s plans.', 'But in January, he did warn that Chinese automakers could ‘demolish’ rivals with low priced EVs.', 'Tesla adjusted net income came in at $1.5 billion, or 45 cents a share.', 'Analysts had been forecasting earnings per share of 49 cents.', 'It was the smallest adjusted quarterly profit that Tesla had reported since the first quarter of 2021, when the pandemic and supply chain disruptions were still affecting results.', 'The company also said it had negative cash flow of $2.5 billion, the first time it had burned through cash in a quarter since the first quarter of 2020 at the start of the pandemic.', 'The company said it experienced numerous challenges in the first quarter, from the conflict in the Red Sea, which caused ships heading from Asia to Europe to take a longer path around Africa, to an arson attack at its plant in Germany and a gradual ramp up of the updated Model 3 at its plant in Fremont, California.']",-0.0139737277097273,"And he spoke of its plans for sentient humanoid robots, and his vision of a fleet of millions driverless “robotaxis” owned by a combination of Tesla and Tesla owners, moving passengers who will be as comfortable riding in a driverless car as they are walking onto an elevator today.","Tesla and Musk were eager to change the story around Tesla, not just away from disappointing first quarter financial results, but also from a sustained run of bad news.",-0.5583304398589664,"But Tesla heartened some investors by announcing it plans to move ahead with a lower priced model, which it said will go into production in the second half of 2025.","Tesla reported its first quarter adjusted earnings plunged 48%, falling short of lowered Wall Street forecasts, but it assured investors that it plans to move ahead with a cheaper model due out next year.",2024-04-24
-Hyundai is the latest brand to pause advertising on X due to antisemitism,https://edition.cnn.com/2024/04/18/business/hyundai-pause-advertising-x-antisemitism/index.html,"
-  Updated
-        9:58 AM EDT, Fri April 19, 2024
-    ","Hyundai said on Thursday it paused advertising on X, formerly known as Twitter, a day after an ad from the automaker reportedly appeared adjacent to an antisemitic and pro-Hitler post on the social media site.
-    
-            On Wednesday, user Nancy Levine Stearns posted screenshots of a paid Hyundai ad above an antisemitic post from a verified “premium” account. The account posts tweets that deny the Holocaust and perpetuate antisemitic rhetoric.
-    
-            In response to a CNN inquiry that included Stearns’ post, a spokesperson for Hyundai replied: “We have paused our ads on X and are speaking to X directly about brand safety to ensure this issue is addressed.”
-    
-            Hyundai is the latest prominent company to pause advertising on X, after its owner Elon Musk publicly embraced an antisemitic theory favored by white supremacists in 2023.
-    
-            NBC News first reported the pause.
-    
-            X has suspended the antisemitic account that was adjacent to the ad, the head of business operations at X, Joe Benarroch, said in an email to CNN. The account’s bio also had antisemitic tropes, Benarroch said.
-    
-            However, as of Friday morning, the user’s account was still up. X temporarily suspended the account Thursday night because the user’s bio contained antisemitic tropes, but the user returned to the platform, writing in the bio, “Twitter forced me to delete my bio because it stated: END JEWISH SUPREMACY”. The account is under review.
-    
-            Benarroch said Hyundai has been running a Corporate level account on X, focused on climate change ads aimed at reaching policy makers. He said the company’s ad agency did not activate Brand Safety settings, and the campaign took place without X’s direct sales team. X’s Brand Safety settings allow advertisers to make sure their ads aren’t running alongside posts that companies might find distasteful.
-    
-            “As a result one ad ran adjacent to a post – that X has since acted on and even suspended the account,” Benarroch said in an email to CNN.
-    
-            But many of these accounts still exist, according to NBC News. An analysis from the outlet this week found 150 verified premium accounts that have “posted or amplified pro-Nazi content.”
-    
-            X News called the report “gotcha articles” and claimed NBC did not disclose the full extent of its research to the site.
-    
-            Musk in November 2023 agreed with a post on X that claimed that Jewish communities push “hatred against Whites,” calling it the “actual truth.”
-    
-            Musk apologized for the post later that month but told advertisers who halted their spending on X over concerns about antisemitic content to “go f**k” themselves.
-    
-            After visiting Auschwitz in January, he said X has less antisemitic content than other social media platforms, but conceded that he wasn’t aware until recently that antisemitism was a pervasive problem in the United States.
-    
-            CNN’s Clare Duffy contributed to this report.",CNN,19/04/2024,"['Hyundai said on Thursday it paused advertising on X, formerly known as Twitter, a day after an ad from the automaker reportedly appeared adjacent to an antisemitic and pro-Hitler post on the social media site.', 'On Wednesday, user Nancy Levine Stearns posted screenshots of a paid Hyundai ad above an antisemitic post from a verified “premium” account.', 'The account posts tweets that deny the Holocaust and perpetuate antisemitic rhetoric.', 'In response to a CNN inquiry that included Stearns’ post, a spokesperson for Hyundai replied: “We have paused our ads on X and are speaking to X directly about brand safety to ensure this issue is addressed.”', 'Hyundai is the latest prominent company to pause advertising on X, after its owner Elon Musk publicly embraced an antisemitic theory favored by white supremacists in 2023.', 'NBC News first reported the pause.', 'X has suspended the antisemitic account that was adjacent to the ad, the head of business operations at X, Joe Benarroch, said in an email to CNN.', 'The account’s bio also had antisemitic tropes, Benarroch said.', 'However, as of Friday morning, the user’s account was still up.', 'X temporarily suspended the account Thursday night because the user’s bio contained antisemitic tropes, but the user returned to the platform, writing in the bio, “Twitter forced me to delete my bio because it stated: END JEWISH SUPREMACY”.', 'The account is under review.', 'Benarroch said Hyundai has been running a Corporate level account on X, focused on climate change ads aimed at reaching policy makers.', 'He said the company’s ad agency did not activate Brand Safety settings, and the campaign took place without X’s direct sales team.', 'X’s Brand Safety settings allow advertisers to make sure their ads aren’t running alongside posts that companies might find distasteful.', '“As a result one ad ran adjacent toa post –that X has since acted on and even suspended the account,” Benarroch said in an email to CNN.', 'But many of these accounts still exist, according to NBC News.', 'An analysis from the outlet this week found 150 verified premium accounts that have “posted or amplified pro-Nazi content.”', 'X News called the report “gotcha articles” and claimed NBC did not disclose the full extent of its research to the site.', 'Musk inNovember 2023 agreed with a poston X that claimed that Jewish communities push “hatred against Whites,” calling it the “actual truth.”', 'Musk apologized for the post later that month but told advertisers who halted their spending on X over concerns about antisemitic content to “go f**k” themselves.', 'After visiting Auschwitz in January, he said X has less antisemitic content than other social media platforms, but conceded that he wasn’t aware until recently that antisemitism was a pervasive problem in the United States.', 'CNN’s Clare Duffy contributed to this report.']",0.0091008882906011,X’s Brand Safety settings allow advertisers to make sure their ads aren’t running alongside posts that companies might find distasteful.,"X temporarily suspended the account Thursday night because the user’s bio contained antisemitic tropes, but the user returned to the platform, writing in the bio, “Twitter forced me to delete my bio because it stated: END JEWISH SUPREMACY”.",-0.9424608051776886,,"Hyundai is the latest prominent company to pause advertising on X, after its owner Elon Musk publicly embraced an antisemitic theory favored by white supremacists in 2023.",2024-04-24
-Ford just reported a massive loss on every electric vehicle it sold,https://edition.cnn.com/2024/04/24/business/ford-earnings-ev-losses/index.html,"
-  Updated
-        5:45 PM EDT, Wed April 24, 2024
-    ","Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.
-    
-            Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years. But it is the only traditional automaker to break out results of its retail EV sales. And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.
-    
-            The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier. And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry. That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.
-    
-            A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler. He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.”
-    
-            In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.
-    
-            Model e doesn’t handle all of the company’s electric vehicle sales. Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers. And Ford said it had strong demands for electric vehicle sales in that unit, including an order for 9,250 E-Transit vans from the US Postal Service, which are to be delivered through the end of this year, and an order for more than 1,000 of its F-150 Lightning pickups and Mustang Mach-E SUVs from Ecolab, a global sustainability company.
-    
-            Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.
-    
-            Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion. The number of vehicles sold by Ford Pro was up 21% to 409,000.
-    
-            But Ford Blue, which handles sales of gasoline-powered cars to consumers, reported that sales fell 11% to 626,000, and revenue dropped 13% to $21 billion. That resulted in EBIT in those traditional sales falling by nearly two-thirds to $905 million.
-    
-            Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.
-    
-            Ford rival General Motors reported earlier this week that it remains on track to have its North American EV business turn profitable in the second half of this year, while Stellantis, which makes cars and trucks in North America under the Jeep, Ram, Dodge and Chrysler brands, said its European EV business was already profitable last year.
-    
-            On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.",CNN,24/04/2024,"['Ford’s electric vehicle unit reported that losses soared in the first quarter to $1.3 billion, or $132,000 for each of the 10,000 vehicles it sold in the first three months of the year, helping to drag down earnings for the company overall.', 'Ford, like most automakers, has announced plans to shift from traditional gas-powered vehicles to EVs in coming years.', 'But it is the only traditional automaker to break out results of its retail EV sales.', 'And the results it reported Wednesday show another sign of the profit pressures on the EV business at Ford and other automakers.', 'The EV unit, which Ford calls Model e, sold 10,000 vehicles in the quarter, down 20% from the number it sold a year earlier.', 'And its revenue plunged 84% to about $100 million, which Ford attributed mostly to price cuts for EVs across the industry.', 'That resulted in the $1.3 billion loss before interest and taxes (EBIT), and the massive per-vehicle loss in the Model e unit.', 'A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler.', 'He said while Ford has removed about $5,000 in cost on each Mustang Mach-E, “revenue is dropping faster than we can take out the cost.”', 'In 2023, Ford Model e reported a full-year EBIT loss of $4.7 billion on sales of 116,000 EVs, or an average of $40,525 per vehicle, just more than a third of the first quarter loss.', 'Model e doesn’t handle all of the company’s electric vehicle sales.', 'Some are also sold in its Ford Pro unit, which handles fleet sales to businesses and government buyers.', 'And Ford said it had strong demands for electric vehicle sales in that unit, including an order for 9,250 E-Transit vans from the US Postal Service, which are to be delivered through the end of this year, and an order for more than 1,000 of its F-150 Lightning pickups and Mustang Mach-E SUVs from Ecolab, a global sustainability company.', 'Despite the EV losses, Ford CEO Jim Farley said in a call with investors the company is making changes in its EV business, and that the company’s planned next generation of EVs will allow it to be profitable on that business in the near future.', 'Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion.', 'The number of vehicles sold by Ford Pro was up 21% to 409,000.', 'But Ford Blue, which handles sales of gasoline-powered cars to consumers, reported that sales fell 11% to 626,000, and revenue dropped 13% to $21 billion.', 'That resulted in EBIT in those traditional sales falling by nearly two-thirds to $905 million.', 'Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.', 'Ford rival General Motors reported earlier this week that it remains on track to have its North American EV business turn profitable in the second half of this year, while Stellantis, which makes cars and trucks in North America under the Jeep, Ram, Dodge and Chrysler brands, said its European EV business was already profitable last year.', 'On Tuesday Tesla, the world’s largest EV maker, reported that its adjusted earnings plunged 48% in the first quarter as revenue fell 9%, after it reported the first year-over-year drop in sales since the pandemic.']",0.068254623341883,"Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.",A price war among EVs for about a year and a half has made profitability very difficult said Ford CFO John Lawler.,-0.2931972707019132,"Ford Pro, which primarily sells traditional internal combustion vehicles, was the primary profit driver for Ford in the quarter, posting EBIT of $3 billion, or more than double what it made a year ago, as revenue from the unit rose 36% to $18 billion.","Together Ford Blue and Ford Pro produced roughly the same level of profits as a year earlier, but the increased losses at the Model e unit meant that Ford’s overall net income fell 20% to $1.3 billion, while its adjusted earnings per share fell to 49 cents, down 21% from a year earlier, but slightly better than analyst forecasts of 44 cents a share.",2024-04-24
-Banning TikTok would hit China’s tech ambitions and deepen the global digital divide,https://edition.cnn.com/2024/04/24/tech/tiktok-ban-bytedance-split-the-world-further-intl-hnk/index.html,"
-  Updated
-        9:24 AM EDT, Wed April 24, 2024
-    ","TikTok is facing an existential crisis in America. If its Chinese owner fails to sell the app in the next year or so, it could be banned in its biggest market.
-    
-            Not only would that deal another huge blow to China’s tech ambitions, it would further deepen the divide between two digital worlds centered around the rival economic superpowers.
-    
-            Congress on Tuesday approved legislation that could compel ByteDance to sell TikTok or face a national ban. President Joe Biden is expected to sign the bill into law on Wednesday; TikTok has already said it will challenge the law in court.
-    
-            Beijing has previously said it strongly opposes a forced sale of TikTok, and it has revised its export control rules to give it the power to block a sale on national security grounds. That leaves few options for ByteDance to secure the future of TikTok in the US, its biggest market with 170 million users.
-    
-            “A forced sale of TikTok in the US amounts to a downgrade of the app, as the Chinese government won’t approve the sale of its algorithms,” said Alex Capri, a research fellow at the Hinrich Foundation and a lecturer at the National University of Singapore’s Business School.
-    
-            “If TikTok is forced to stop operating in the US, ByteDance’s prospects in other mostly liberal democracies will come under further scrutiny,” he said.
-    
-            If the Chinese government won’t let ByteDance relinquish TikTok’s algorithm, it could block the sale outright. Alternatively, it may allow TikTok to be sold without the lucrative algorithm that forms the basis for its popularity.
-    
-            A US ban, or a less powerful version of TikTok, would be a windfall
-    
-             for YouTube, Google, Instagram and other TikTok competitors, as many of its customers may jump ship, Capri said. And it would be a major hit to the global ambitions of ByteDance.
-    
-            “It [a TikTok ban] would be the end of ByteDance’s global expansion, as it would be a sign that the Chinese state values the algorithm’s security more than ByteDance’s financial prosperity and global expansion,” said Richard Windsor, tech industry analyst and founder of Radio Free Mobile, a research company based in the US.
-    
-            “The implications are that the ideological struggle being fought in the technology industry will become more intense.”
-    
-            A ban on TikTok is also likely to accelerate a shift that is splitting the world’s tech landscape into two blocs, one centered on the US, the other embracing tech from China, according to Capri.
-    
-            “The move against TikTok in the US is another step towards not only a bifurcated platform economy between Chinese apps and Western apps, but also, more broadly, the bifurcation of entire the global tech landscape,” he said.
-    
-            “This includes everything from who owns and operates data centers, to space-based internet satellites, to undersea cables and, of course semiconductors.”
-    
-            In that sense, the TikTok ban has its silver lining for Beijing.
-    
-            “A ban in the US will spark renewed efforts to spread China’s digital footprint in Southeast Asia, and other mostly developing markets world wide,” Capri said.
-    
-            The TikTok legislation was included in a wide-ranging foreign aid package meant to support Israel, Ukraine and Taiwan.
-    
-            Once President Biden signs it into law, ByteDance will have up to a year to complete the sale or face an effective ban for the platform.
-    
-            US officials and legislators have long expressed concerns about TikTok’s potential national security risks, including that it could share data with the Chinese government, or manipulate content displayed on the platform. But TikTok has rejected the claims.
-    
-            “The new divestiture bill is the result of a concerted lobbying effort by Silicon Valley venture capitalists associated with US technology companies that stand to benefit from the China threat narrative proponents of the bill have been pushing, ” said Paul Triolo, partner for China and Technology Policy Lead at Albright Stonebridge Group.
-    
-            In general, Chinese companies and apps operating the US are facing growing challenges, he said.
-    
-            Biden administration officials are beefing up a new office at the Commerce Department to enforce provisions of a Trump-era rule on protecting US information technology supply chains that covers connected apps and could be used to push for further restrictions.
-    
-            “It seems unlikely that Congress would single out another Chinese company like TikTok for a specific bill, but the Commerce IT supply chain rule could be used in the future to limit the ability of Chinese companies and apps to have access to portions of the US market,” Triolo said.
-    
-            China’s Commerce Ministry has pledged to take all “necessary measures” to protect its interests, shortly after the House of Representatives passed an earlier version of the TikTok bill last month. But it didn’t elaborate.
-    
-            On Wednesday, Wang Wenbin, a spokesperson for the Foreign Ministry said in response to a question from CNN’s Marc Stewart: “On the TikTok matter, we have stated our position clearly, and I have nothing to add today.”
-    
-            Most American social networking apps have already been barred in China. Beijing currently blocks most US social media platforms — including Google, YouTube, X, Instagram, WhatsApp and Facebook — because they refuse to follow the Chinese government’s rules on data collection and the type of content shared.
-    
-            Triolo doesn’t expect Beijing to react “strongly” to the US ban on TikTok, though.
-    
-            “While Beijing is already on record as opposing any forced divestiture of TikTok US from Bytedance, its primary concern would be the transfer of technology involved,” he said. “In general, Beijing cares much less about a social media company than about US technology controls.”
-    
-            “Beijing will be much more likely to retaliate strongly to new US export controls, and is not likely to respond in kind to the US effort to ban Tiktok US if it eventually happens,” he added.
-    
-            Beijing recently ordered Apple (AAPL) to remove social messaging apps WhatsApp, Signal, and Telegram from the firm’s China app store. But it has not followed up with major crackdowns on virtual private networks, which many tech savvy Chinese use to communicate with friends abroad via these messaging apps.
-    
-            “The move was likely timed to show that China will continue to block access to some apps it considers to be a national security threat, though the blocked apps have far fewer users in China than the 170 million or so users of TikTok in the US,” Triolo said.
-    
-            — CNN’s Wayne Chang and Marc Stewart contributed reporting.",CNN,24/04/2024,"['TikTok is facing an existential crisis in America.', 'If its Chinese owner fails to sell the app in the next year or so, it could be banned in its biggest market.', 'Not only would that deal another huge blow to China’s tech ambitions, it would further deepen the divide between two digital worlds centered around the rival economic superpowers.', 'Congress on Tuesday approved legislation that could compel ByteDance to sell TikTok or face a national ban.', 'President Joe Biden is expected to sign the bill into law on Wednesday; TikTok has already said it will challenge the law in court.', 'Beijing has previously said it strongly opposes a forced sale of TikTok, and it has revised its export control rules to give it the power to block a sale on national security grounds.', 'That leaves few options for ByteDance to secure the future of TikTok in the US, its biggest market with 170 million users.', '“A forced sale of TikTok in the US amounts to a downgrade of the app, as the Chinese government won’t approve the sale of its algorithms,” said Alex Capri, a research fellow at the Hinrich Foundation and a lecturer at the National University of Singapore’s Business School.', '“If TikTok is forced to stop operating in the US, ByteDance’s prospects in other mostly liberal democracies will come under further scrutiny,” he said.', 'If the Chinese government won’t let ByteDance relinquish TikTok’s algorithm, it could block the sale outright.', 'Alternatively, it may allow TikTok to be sold without the lucrative algorithm that forms the basis for its popularity.', 'A US ban, or a less powerful version of TikTok, would be a windfall  for YouTube, Google, Instagram and other TikTok competitors, as many of its customers may jump ship, Capri said.', 'And it would be a major hit to the global ambitions of ByteDance.', '“It [a TikTok ban] would be the end of ByteDance’s global expansion, as it would be a sign that the Chinese state values the algorithm’s security more than ByteDance’s financial prosperity and global expansion,” said Richard Windsor, tech industry analyst and founder of Radio Free Mobile, a research company based in the US.', '“The implications are that the ideological struggle being fought in the technology industry will become more intense.”', 'A ban on TikTok is also likely to accelerate a shift that is splitting the world’s tech landscape into two blocs, one centered on the US, the other embracing tech from China, according to Capri.', '“The move against TikTok in the US is another step towards not only a bifurcated platform economy between Chinese apps and Western apps, but also, more broadly, the bifurcation of entire the global tech landscape,” he said.', '“This includes everything from who owns and operates data centers, to space-based internet satellites, to undersea cables and, of course semiconductors.”', 'In that sense, the TikTok ban has its silver lining for Beijing.', '“A ban in the US will spark renewed efforts to spread China’s digital footprint in Southeast Asia, and other mostly developing markets world wide,” Capri said.', 'The TikTok legislation was included in a wide-ranging foreign aid package meant to support Israel, Ukraine and Taiwan.', 'Once President Biden signs it into law, ByteDance will have up to a year to complete the sale or face an effective ban for the platform.', 'US officials and legislators have long expressed concerns about TikTok’s potential national security risks, including that it could share data with the Chinese government, or manipulate content displayed on the platform.', 'But TikTok has rejected the claims.', '“The new divestiture bill is the result of a concerted lobbying effort by Silicon Valley venture capitalists associated with US technology companies that stand to benefit from the China threat narrative proponents of the bill have been pushing, ” said Paul Triolo, partner for China and Technology Policy Lead at Albright Stonebridge Group.', 'In general, Chinese companies and apps operating the US are facing growing challenges, he said.', 'Biden administration officials are beefing up a new office at the Commerce Department to enforce provisions of a Trump-era rule on protecting US information technology supply chains that covers connected apps and could be used to push for further restrictions.', '“It seems unlikely that Congress would single out another Chinese company like TikTok for a specific bill, but the Commerce IT supply chain rule could be used in the future to limit the ability of Chinese companies and apps to have access to portions of the US market,” Triolo said.', 'China’s Commerce Ministry has pledged to take all “necessary measures” to protect its interests, shortly after the House of Representatives passed an earlier version of the TikTok bill last month.', 'But it didn’t elaborate.', 'On Wednesday, Wang Wenbin, a spokesperson for the Foreign Ministry said in response to a question from CNN’s Marc Stewart: “On the TikTok matter, we have stated our position clearly, and I have nothing to add today.”', 'Most American social networking apps have already been barred in China.', 'Beijing currently blocks most US social media platforms — including Google, YouTube, X, Instagram, WhatsApp and Facebook — because they refuse to follow the Chinese government’s rules on data collection and the type of content shared.', 'Triolo doesn’t expect Beijing to react “strongly” to the US ban on TikTok, though.', '“While Beijing is already on record as opposing any forced divestiture of TikTok US from Bytedance, its primary concern would be the transfer of technology involved,” he said. “', 'In general, Beijing cares much less about a social media company than about US technology controls.”', '“Beijing will be much more likely to retaliate strongly to new US export controls, and is not likely to respond in kind to the US effort to ban Tiktok US if it eventually happens,” he added.', 'Beijing recently ordered Apple (AAPL) to remove social messaging apps WhatsApp, Signal, and Telegram from the firm’s China app store.', 'But it has not followed up with major crackdowns on virtual private networks, which many tech savvy Chinese use to communicate with friends abroad via these messaging apps.', '“The move was likely timed to show that China will continue to block access to some apps it considers to be a national security threat, though the blocked apps have far fewer users in China than the 170 million or so users of TikTok in the US,” Triolo said.', '— CNN’s Wayne Chang and Marc Stewart contributed reporting.']",-0.0572599555987398,"But it has not followed up with major crackdowns on virtual private networks, which many tech savvy Chinese use to communicate with friends abroad via these messaging apps.","“The move was likely timed to show that China will continue to block access to some apps it considers to be a national security threat, though the blocked apps have far fewer users in China than the 170 million or so users of TikTok in the US,” Triolo said.",-0.1384766384174949,"“A ban in the US will spark renewed efforts to spread China’s digital footprint in Southeast Asia, and other mostly developing markets world wide,” Capri said.",And it would be a major hit to the global ambitions of ByteDance.,2024-04-24
-Switzerland says UBS may need more cash. The bank is fuming,https://edition.cnn.com/2024/04/24/investing/ubs-switzerland-too-big-to-fail/index.html,"
-  Updated
-        11:49 AM EDT, Wed April 24, 2024
-    ","A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever having to bail out a major bank.
-    
-            Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center.
-    
-            Speaking at the bank’s annual shareholder meeting Wednesday, UBS chairman Colm Kelleher said he was “seriously concerned” about current discussions that could force the bank to hold much more cash and other liquid assets. “Additional capital is the wrong remedy,” he said.
-    
-            “There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse. UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis.
-    
-            The deal has proved controversial in Switzerland, which is now home to a bank with assets almost double the size of its annual economic output.
-    
-            Kelleher argued the deal “reinforced Switzerland’s position as a leader in wealth management.”
-    
-            He emphasized that UBS was “not too big to fail” and was “one of the best-capitalized banks in Europe,” with financial resources to absorb losses in excess of $200 billion.
-    
-            “Trust cannot be regulated. It was not too-low capital requirements that forced Credit Suisse into the historic weekend rescue,” he added.
-    
-            The regulatory proposals, unveiled earlier this month, give analysts and shareholders reason to reconsider the potential benefits that UBS will derive from the biggest banking deal in history. Shares in the lender closed almost 3% lower in Zurich Wednesday.
-    
-            The stock has tumbled 10% since the Swiss government published its recommendations as part of a report on banking sector stability, trimming some of the extraordinary gains notched since the deal was announced a year ago.
-    
-            Asked whether the proposed measures would require UBS to hold additional capital of between 15 billion and 25 billion Swiss francs ($16.4 billion-$27.3 billion), Swiss finance minister Karin Keller-Keller Sutter told the country’s Tages-Anzeiger newspaper this month that such estimates were “plausible.”
-    
-            The Swiss government will publish more detailed proposals in the first quarter of next year.
-    
-            In a note Tuesday, Anke Reingen, a banking analyst at RBC Capital Markets, wrote that UBS shareholders’ concerns were “justified.”
-    
-            Investors are anxious because, in general, the more capital a bank has to hold in reserve the less it can return to shareholders or deploy to boost earnings.
-    
-            UBS is enjoying a lofty market valuation, with its shares up almost 40% over the past year. But that leaves the stock more vulnerable to declines as a result of “execution risk in the Credit Suisse integration,” suggested Citi analyst Andrew Coombs. He added that the new regulatory proposals injected “greater uncertainty” over the stock’s value.
-    
-            Kelleher on Wednesday again highlighted the merits of the deal, while acknowledging that there was still “a long way to go” to make it a success.
-    
-            He noted that the transaction added client assets equivalent to seven to 10 years of organic growth and “cements” UBS’s status as the “pre-eminent global wealth manager.”
-    
-            “However, to maintain this competitive edge, it is imperative that our regulatory policies ensure a level playing field,” he added. “In other words, Switzerland’s regulation must remain broadly aligned with global standards.”
-    
-            Kelleher also defended UBS CEO Sergio Ermotti’s pay package for 2023, which drew considerable criticism from shareholders. “He arguably has the toughest job in the financial services industry globally and he has delivered,” he said.
-    
-            Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023, making him the highest-paid bank CEO in Europe, according to Reuters.",CNN,24/04/2024,"['A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever having to bail out a major bank.', 'Now, the giant Swiss lender is hitting back, saying its finances are robust and warning that the proposal could harm Switzerland’s standing as a global financial center.', 'Speaking at the bank’s annual shareholder meeting Wednesday, UBS chairman Colm Kelleher said he was “seriously concerned” about current discussions that could force the bank to hold much more cash and other liquid assets. “', 'Additional capital is the wrong remedy,” he said.', '“There can be no regulatory solution for a broken business model,” he continued, referring to Credit Suisse.', 'UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis.', 'The deal has proved controversial in Switzerland, which is now home to a bank with assets almost double the size of its annual economic output.', 'Kelleher argued the deal “reinforced Switzerland’s position as a leader in wealth management.”', 'He emphasized that UBS was “not too big to fail” and was “one of the best-capitalized banks in Europe,” with financial resources to absorb losses in excess of $200 billion.', '“Trust cannot be regulated.', 'It was not too-low capital requirements that forced Credit Suisse into the historic weekend rescue,” he added.', 'The regulatory proposals, unveiled earlier this month, give analysts and shareholders reason to reconsider the potential benefits that UBS will derive from the biggest banking deal in history.', 'Shares in the lender closed almost 3% lower in Zurich Wednesday.', 'The stock has tumbled 10% since the Swiss government published its recommendations as part of a report on banking sector stability, trimming some of the extraordinary gains notched since the deal was announced a year ago.', 'Asked whether the proposed measures would require UBS to hold additional capital of between 15 billion and 25 billion Swiss francs ($16.4 billion-$27.3 billion), Swiss finance minister Karin Keller-Keller Sutter told the country’s Tages-Anzeiger newspaper this month that such estimates were “plausible.”', 'The Swiss government will publish more detailed proposals in the first quarter of next year.', 'In a note Tuesday, Anke Reingen, a banking analyst at RBC Capital Markets, wrote that UBS shareholders’ concerns were “justified.”', 'Investors are anxious because, in general, the more capital a bank has to hold in reserve the less it can return to shareholders or deploy to boost earnings.', 'UBS is enjoying a lofty market valuation, with its shares up almost 40% over the past year.', 'But that leaves the stock more vulnerable to declines as a result of “execution risk in the Credit Suisse integration,” suggested Citi analyst Andrew Coombs.', 'He added that the new regulatory proposals injected “greater uncertainty” over the stock’s value.', 'Kelleher on Wednesday again highlighted the merits of the deal, while acknowledging that there was still “a long way to go” to make it a success.', 'He noted that the transaction added client assets equivalent to seven to 10 years of organic growth and “cements” UBS’s status as the “pre-eminent global wealth manager.”', '“However, to maintain this competitive edge, it is imperative that our regulatory policies ensure a level playing field,” he added. “', 'In other words, Switzerland’s regulation must remain broadly aligned with global standards.”', 'Kelleher also defended UBS CEO Sergio Ermotti’s pay package for 2023, which drew considerable criticism from shareholders. “', 'He arguably has the toughest job in the financial services industry globally and he has delivered,” he said.', 'Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023, making him the highest-paid bank CEO in Europe, according to Reuters.']",0.0870259020335376,He noted that the transaction added client assets equivalent to seven to 10 years of organic growth and “cements” UBS’s status as the “pre-eminent global wealth manager.”,UBS bought its stricken rival last March in a government-orchestrated rescue aimed at preventing a global financial crisis.,0.0854817283780951,"UBS is enjoying a lofty market valuation, with its shares up almost 40% over the past year.","But that leaves the stock more vulnerable to declines as a result of “execution risk in the Credit Suisse integration,” suggested Citi analyst Andrew Coombs.",2024-04-24
-Judge’s stern rebuke of Elon Musk’s X gives researchers fresh hope,https://edition.cnn.com/2024/03/26/tech/judges-stern-rebuke-of-elon-musks-x-gives-researchers-fresh-hope/index.html,"
-  Published
-        1:17 PM EDT, Tue March 26, 2024
-    ","A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.
-    
-            On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.
-    
-            Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers. Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.
-    
-            Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.
-    
-            The CCDH case — in the US District Court for the Northern District of California — has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.
-    
-            And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.
-    
-            “This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.
-    
-            “Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.
-    
-            X said it plans to appeal Breyer’s decision.
-    
-            In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively. None of those threats ever amounted to real lawsuits.
-    
-            He did, however, sue the progressive media watchdog Media Matters over its analysis highlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers. Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X.
-    
-            This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone. Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.
-    
-            The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”
-    
-            As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation. The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.
-    
-            “They have every reason to do it,” Carusone said of the AGs’ investigations. “They get the political benefits, they get the attention. There doesn’t seem to be any cost to them yet. And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”
-    
-            A representative for X did not immediately respond to a request for comment about Carusone’s claims.
-    
-            Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022. Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics. But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.
-    
-            Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year — were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.
-    
-            The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.
-    
-            Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.
-    
-            “We need independent research to have any real measure of what’s going on at X/Twitter. Musk is only ever going to release data that makes his company look good,” Karpf said. “These platforms are too big and too vital to the spread of information to be left unmonitored.”
-    
-            “This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”
-    
-            Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.
-    
-            “The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.
-    
-            Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”",CNN,26/03/2024,"['A federal judge’s decision this week reprimanding Elon Musk’s X will have reverberating effects on efforts to hold influential online platforms accountable, legal experts and advocacy groups say.', 'On Monday, District Judge Charles Breyer dismissed and excoriated a lawsuit by X against online watchdog group Center for Countering Digital Hate as an attempt to silence the non-profit group for sounding alarms about hate speech on the platform.', 'Breyer wrote in Monday’s order that the lawsuit was “unabashedly” about “punishing” reports written by CCDH, which X had accused of campaigning to drive away its advertisers.', 'Breyer held that the reports were “unquestionably” protected by the group’s free speech rights.', 'Now, that decision could embolden other research groups and Musk critics who have faced legal threats from the billionaire.', 'The CCDH case — in the US District Court for the Northern District of California —has been widely viewed as a bellwether for research and accountability on X, where Musk has restored the accounts of previously banned White supremacists and spreaders of misinformation and where Musk himself has amplified various conspiracy theories.', 'And CCDH is not the only organization that has faced attacks by self-proclaimed “free speech absolutist” Musk after criticizing or raising concerns about his platform.', '“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.', '“Society needs reliable and ethical research into social media platforms, and often that research relies on being able to study publicly available posts,” Abdo said.', 'X said it plans to appeal Breyer’s decision.', 'In his first year as owner of X, formerly known as Twitter, Musk threatened legal action against the Anti-Defamation League for defamation, as well as against Microsoft and Meta for allegedly improper data and trade secret access, respectively.', 'None of those threats ever amounted to real lawsuits.', 'He did, however, sue the progressive media watchdog Media Matters over itsanalysishighlighting antisemitic and pro-Nazi content on X, alleging that the group’s testing methodology was not representative of how real users experience the site and that the report was designed to drive away advertisers.', 'Legal experts have described that case as “weak” on the merits and as a “bogus” attempt to chill criticism of X.  This week’s court decision may be only a temporary setback in Musk’s wider plan to stifle criticism, said Media Matters CEO Angelo Carusone.', 'Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.', 'The states of Texas and Missouri each announced probes into Media Matters following X’s lawsuit against the group, to which Musk responded, “Great!”', 'As recently as Monday, Missouri Attorney General Andrew Bailey filed a petition in state court seeking to compel Media Matters’ cooperation with his investigation.', 'The filing came a week after he appeared with Musk in a live event on X — which Carusone said shows how Musk hopes to deputize the power of government to silence his critics.', '“They have every reason to do it,” Carusone said of the AGs’ investigations. “', 'They get the political benefits, they get the attention.', 'There doesn’t seem to be any cost to them yet.', 'And if they are successful at developing this new playbook, this new terrain, legally, then it’s going to pave the way for them to just use this tool and tactic over and over and over again.”', 'A representative for X did not immediately respond to a request for comment about Carusone’s claims.', 'Researchers from non-profits and academic institutions have had a harder time studying X since Musk’s takeover in 2022.', 'Academics need large samples of posts, shares, likes and other data to study social media trends in mis- and disinformation, public health, elections and other key topics.', 'But one of Musk’s first changes at X was to put access to platform data behind a steep paywall.', 'Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.', 'The change may have forced some researchers to rely more heavily on first-person observational data to draw conclusions about user behavior on X. Groups like CCDH have also used automated “scraping” of publicly viewable content from X rather than paying the company for data directly, a tactic that helped give rise to X’s initial lawsuit.', 'Efforts by X and other social media companies to limit research transparency makes them less accountable to the public at best and, at worst, could mask malicious behavior, said David Karpf, an associate professor in the School of Media and Public Affairs at George Washington University.', '“We need independent research to have any real measure of what’s going on at X/Twitter.', 'Musk is only ever going to release data that makes his company look good,” Karpf said. “', 'These platforms are too big and too vital to the spread of information to be left unmonitored.”', '“This is an election year,” Karpf added, “and the platforms are taking steps to make it harder to monitor how their services are used for malignant ends.”', 'Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.', '“The guardrails for democracy are hanging by a thread and we have dwindling insights into platform practices as researchers face lawsuits, congressional subpoenas and other scare tactics,” said Nora Benavidez, senior counsel and director of digital rights at Free Press.', 'Ultimately, Benavidez called the ruling “a reminder that platform accountability is essential and will inevitably prevail when up against bullies like Musk who try to silence us.”']",0.0427064270235155,"Musk’s new playbook, Carusone said, enlists the help of sympathetic Republican attorneys general to investigate independent reporting organizations and tie them up in legal proceedings.","“This is an important decision that sees Elon Musk’s lawsuit for what it is — an effort to punish his critics for constitutionally protected speech and to deter researchers from studying his platform,” said Alex Abdo, litigation director of the Knight First Amendment Institute at Columbia University, which had filed a friend-of-the-court brief in the case arguing that private companies should not be allowed to use breach of contract claims to punish criticism.",-0.3806276832308088,"Free Press, another media accountability organization that has been critical of Musk’s leadership of X and which called for advertisers to pause their spending on the platform shortly after his takeover, also celebrated Breyer’s ruling as potentially removing at least one hurdle that watchdog organizations face.","Researchers and civil society groups said the new subscription fees — costing up to $2.5 million a year —were “outrageously expensive” and made it impossible to do their work, reducing transparency of a critical platform.",2024-04-24
-Netflix is trying to prove to the world that it’s all grown up,https://edition.cnn.com/2024/04/19/media/netflix-subscription-numbers/index.html,"
-  Updated
-        9:24 AM EDT, Fri April 19, 2024
-    ","Editor’s Note: A version of this article first appeared in the “Reliable Sources” newsletter. Sign up for the daily digest chronicling the evolving media landscape here.
-    
-            In the early stages of life, a key metric is growth. As children age, their parents measure precisely how much they are flourishing in size, using charts to keep close eyes on and document the journey.
-    
-            But when children mature into young adults, physical growth is no longer the barometer used to judge progress. Other metrics come into play.
-    
-            Netflix is trying to persuade Wall Street that it is now all grown up. After squeezing out millions of additional subscribers via its password sharing crackdown and through the introduction of cheaper advertiser-supported plans, the streamer knows that its growth spurts are coming to an end — and now it wants investors to stop obsessing over those pesky membership numbers and instead focus on other metrics.
-    
-            “In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” Netflix told shareholders Thursday as it reported quarterly earnings. “But now we’re generating very substantial profit and free cash flow. We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth.”
-    
-            To that end, Netflix said that it will no longer report quarterly subscriber numbers, starting in 2025. Alas, the metric that Wall Street has forever judged Netflix on — the metric that prompted legacy media companies to burn endless piles of cash in their bids to compete with the streamer — will be retired. It’s going the way of the woolly mammoth, Netflix said. Goodbye!
-    
-            The decision to shut off transparency on the metric represents a significant turning point in the streaming revolution. For years, Netflix has prided itself on being extraordinarily transparent. Now it is aiming to hold its cards closer to its chest. And given that streaming giant is the trendsetter in the space, one could expect that other media companies will be inspired by the company’s move and also opt to cease reporting such data.
-    
-            To be fair, what Netflix is saying isn’t necessarily off base either. As the company shifts its business model away from subscriptions and toward advertising and other revenue streams, it makes sense to consider how much time users are spending on the service. The more content a user consumes on Netflix, the more likely they are to continue paying for the service, and the more money Netflix then makes from that single subscriber (particularly if they are in an advertiser-supported tier).
-    
-            “We’re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction,” Netflix underscored in its letter to shareholders.
-    
-            Regardless, less transparency in an already opaque industry is not ideal. The walled garden of streaming already lacks the same detailed viewership data that Nielsen collects on linear television broadcasters. Now, visibility into the streaming world will get even dimmer. Instead, Netflix said it will “announce major subscriber milestones” as it crosses them. But that’s a very general statement and it is unclear what the company defines as a milestone.
-    
-            The announcement from Netflix managed to overshadow its otherwise stellar quarter. The company handily beat exceptions and added a staggering 9.3 million subscribers, meaning it now boasts nearly 270 million in total. Netflix also beat analyst expectations on both earnings and revenue.
-    
-            But it wasn’t all good news. Netflix forecasted its subscriber growth to be lower in quarter two, chalking it up to “typical seasonality.” That led the stock to slide nearly 5% in after-hours trading.
-    
-            Whether “typical seasonality” is solely to blame, or whether the streamer is simply starting to hit a ceiling, is hard to tell. Perhaps it is a mix of both. Whatever the cause, the stock sliding on the less-than-ideal outlook is a prime example of why Netflix wants Wall Street to stop focusing on its subscriber numbers. And, in one year’s time, investors won’t have a choice.",CNN,19/04/2024,"['Editor’s Note:A version of this article first appeared in the “Reliable Sources” newsletter.', 'Sign up for the daily digest chronicling the evolving media landscape here.', 'In the early stages of life, a key metric is growth.', 'As children age, their parents measure precisely how much they are flourishing in size, using charts to keep close eyes on and document the journey.', 'But when children mature into young adults, physical growth is no longer the barometer used to judge progress.', 'Other metrics come into play.', 'Netflixis trying to persuadeWall Streetthat it is now all grown up.', 'After squeezing out millions of additional subscribers via its password sharing crackdown and through the introduction of cheaper advertiser-supported plans, the streamer knows that its growth spurts are coming to an end — and now it wants investors to stop obsessing over those pesky membership numbers and instead focus on other metrics.', '“In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” Netflix told shareholders Thursday as it reported quarterly earnings. “', 'But now we’re generating very substantial profit and free cash flow.', 'We are also developing new revenue streams like advertising and our extra member feature, so memberships are just one component of our growth.”', 'To that end, Netflix said that it will no longer report quarterly subscriber numbers, starting in 2025.', 'Alas, the metric that Wall Street has forever judged Netflix on — the metric that prompted legacy media companies to burn endless piles of cash in their bids to compete with the streamer — will be retired.', 'It’s going the way of the woolly mammoth, Netflix said.', 'Goodbye!', 'The decision to shut off transparency on the metric represents a significant turning point in the streaming revolution.', 'For years, Netflix has prided itself on beingextraordinarily transparent.', 'Now it is aiming to hold its cards closer to its chest.', 'And given that streaming giant is the trendsetter in the space, one could expect that other media companies will be inspired by the company’s move and also opt to cease reporting such data.', 'To be fair, what Netflix is saying isn’t necessarily off base either.', 'As the company shifts its business model away from subscriptions and toward advertising and other revenue streams, it makes sense to consider how much time users are spending on the service.', 'The more content a user consumes on Netflix, the more likely they are to continue paying for the service, and the more money Netflix then makes from that single subscriber (particularly if they are in an advertiser-supported tier).', '“We’re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction,” Netflix underscored in its letter to shareholders.', 'Regardless, less transparency in an already opaque industry is not ideal.', 'The walled garden of streaming already lacks the same detailed viewership data thatNielsencollects on linear television broadcasters.', 'Now, visibility into the streaming world will get even dimmer.', 'Instead, Netflix said it will “announce major subscriber milestones” as it crosses them.', 'But that’s a very general statement and it is unclear what the company defines as a milestone.', 'The announcement from Netflix managed to overshadow its otherwise stellar quarter.', 'The company handily beat exceptions and added a staggering 9.3 million subscribers, meaning it now boasts nearly 270 million in total.', 'Netflix also beat analyst expectations on both earnings and revenue.', 'But it wasn’t all good news.', 'Netflix forecasted its subscriber growth to be lower in quarter two, chalking it up to “typical seasonality.”', 'That led the stock to slide nearly 5% in after-hours trading.', 'Whether “typical seasonality” is solely to blame, or whether the streamer is simply starting to hit a ceiling, is hard to tell.', 'Perhaps it is a mix of both.', 'Whatever the cause, the stock sliding on the less-than-ideal outlook is a prime example of why Netflix wants Wall Street to stop focusing on its subscriber numbers.', 'And, in one year’s time, investors won’t have a choice.']",0.1476009021644336,"“We’re focused on revenue and operating margin as our primary financial metrics — and engagement (i.e. time spent) as our best proxy for customer satisfaction,” Netflix underscored in its letter to shareholders.","Whether “typical seasonality” is solely to blame, or whether the streamer is simply starting to hit a ceiling, is hard to tell.",0.1610322208965525,"The company handily beat exceptions and added a staggering 9.3 million subscribers, meaning it now boasts nearly 270 million in total.","Netflix forecasted its subscriber growth to be lower in quarter two, chalking it up to “typical seasonality.”",2024-04-24
-Australia is taking on ‘arrogant billionaire’ Elon Musk over violent images on X,https://edition.cnn.com/2024/04/24/media/australia-elon-musk-x-sydney-church-stabbing-hnk-intl/index.html,"
-  Updated
-        7:30 AM EDT, Wed April 24, 2024
-    ","In one camp is a tech billionaire with more than 181 million followers on his own social network. In the other, political leaders representing a country of just 26 million people.
-    
-            Insults have been hurled for days by both sides in an increasingly bare-knuckled fight between X owner Elon Musk and the Australian government that’s playing out both online and in the Federal Court.
-    
-            At issue is the right of X to publish a video showing the moment a 16-year-old allegedly stabbed a bishop in an Orthodox Christian Church in Sydney earlier this month.
-    
-            Australian authorities say the clips threw fuel on a riot that erupted outside the church after the attack and shouldn’t be available for general viewing on a global platform, where it could be used to radicalize potential offenders.
-    
-            The country’s e-safety commissioner ordered social media giants to take it down.
-    
-            Most complied, but X didn’t go far enough, according to the commissioner.
-    
-            Australia wants X to remove the video completely, not just hide it from Australian users who could circumvent a local ban by using virtual private networks.
-    
-            X says that’s an assault on free speech.
-    
-            “Our concern is that if ANY country is allowed to censor content for ALL countries, which is what the Australian ‘eSafety Commissar’ is demanding, then what is to stop any country from controlling the entire Internet? Musk posted on X.
-    
-            Australian Prime Minister Anthony Albanese on Tuesday labelled Musk an “arrogant billionaire who thinks he’s above the law, but also above common decency.”
-    
-            After deleting her X account and urging other politicians to do the same, Jacqui Lambie, a straight-talking senator and former soldier from Tasmania, posted an image of herself on Facebook dressed in army fatigues with a message to Musk to “put his big boy pants on and do the right thing.”
-    
-            The post dropped around midnight in the United States, and as of writing, the X boss hadn’t responded. Though her previous calls on national television for Musk to be jailed resulted in him branding her “an enemy of the people of Australia.”
-    
-            X did not reply to a request for comment.
-    
-            On Wednesday, more than a week after the attack, the video was still available to view on the X account of the Australian Jewish Association (AJA). President David Adler told CNN he hadn’t been asked to take it down, either by X or Australia’s e-safety commissioner.
-    
-            Adler said the AJA received an email from X saying Australian authorities had contacted the company with a takedown request, noting the video “violates the law(s) of Australia.”
-    
-            According to the email, seen by CNN, X said: “We want you to have an opportunity to evaluate the request and, if you wish, take appropriate action to protect your interests.”
-    
-            The AJA hasn’t taken the video down, because Adler believes it’s important for people to see.
-    
-            “The reason we did that is because security issues are of critical interest to the Jewish community,” said Adler. “Politicians are not adequately taking the risks of extremism seriously enough. And one of the benefits of showing exactly what happened is a public awakening. Politicians often won’t act without public pressure and there needs to be a bit of an awakening about the risk.”
-    
-            CNN contacted the eSafety office for comment about the AJA’s decision not to remove the video.
-    
-            On Wednesday, the risks of extremism became apparent with a series of raids at 13 locations in Sydney by the Joint Counter Terrorism Team related to the church attack.
-    
-            Seven youths, age 15 to 17, were arrested and five were helping police with their inquiries, Australian Federal Police (AFP) Deputy Commissioner Krissy Barrett told a news conference.
-    
-            “We identified links between the alleged offender and a network of associates and peers who we believe shared a similar violent extremist ideology,” she said. “At this time, we have no evidence of specific locations, times or targets of a violent act.”
-    
-            The arrests came as the heads of the AFP and Australia’s Security Intelligence Organisation (ASIO) gave a joint address to the National Press Club warning that the risks are extreme — and urging social media companies to work with police against forces seeking to radicalize children.
-    
-            “Some of our children and other vulnerable people are being bewitched online by a cauldron of extremist poison on the open and dark web. And that’s one serious problem. The other is that the very nature of social media allows that extremist poison to spray across the globe almost instantaneously,” said AFP Commissioner Reece Kershaw.
-    
-            Musk’s refusal to take down the videos resulted in Australia’s e-safety commissioner taking legal action on X to act or risk fines of up to 782,500 Australian dollars ($508,000) for each day of non-compliance.
-    
-            On Wednesday, the parties were back in the Federal Court in Sydney, where X lawyer Marcus Hoyne made clear that the social media platform hadn’t changed its position and would fight what he called the commissioner’s attempted reach over an “exorbitant jurisdiction.”
-    
-            He said X would file an affidavit from Bishop Mar Mari Emmanuel, the cleric who was stabbed multiple times during the church attack, “stating that he is strongly of the view that the material should be available.”
-    
-            Christ The Good Shepherd Church, where the attack happened, declined to comment when contacted by CNN.
-    
-            Joanne Gray, a lecturer in digital cultures at the University of Sydney, said the e-safety commissioner’s attempt to extend the takedown orders beyond Australia’s borders was not an overreach.
-    
-            “There’s a long history of platforms working with policymakers and civil society and different groups to moderate content, and Musk’s position is a deviation from that,” she told CNN.
-    
-            Gray said taking down harmful material in the jurisdiction where it was published typically limits its spread and any potential harm caused, though conceded the system isn’t perfect.
-    
-            Gray said Musk was trying to apply his stated belief in free speech absolutism to Australia, not to set a precedent for other platforms to follow.
-    
-            “It’s extremely problematic that any individual has control over a communication platform that has the potential to reach a global audience in a way that is unaccountable,” she said.
-    
-            Musk’s fight with the Australian government is one of many the billionaire is waging against authorities he accuses of imposing limits on free speech.
-    
-            Since Musk bought X, formerly known as Twitter, in 2022, he has stripped back its content moderation and reinstated some previously blocked accounts, earning him strong support from loyal followers.
-    
-            In a statement Wednesday, Australia’s eSafety commissioner said the takedown request wasn’t designed to stifle discussion about the church attack.
-    
-            “The removal notice given to X Corp does not relate to commentary, public debate or other posts about this event, even those which may link to extreme violent content. It only concerns the video of the violent stabbing attack,” it said.
-    
-            Musk’s supporters have applauded the billionaire’s stance in Australia and taken aim at his critics.
-    
-            Lambie’s office confirmed there had been an increase in the trolling of her Facebook account, and Wednesday’s post was closed for comments in order to discourage more.
-    
-            The court granted a further injunction requiring X to hide the violent material until May 10, when all parties will return to court.",CNN,24/04/2024,"['In one camp is a tech billionaire with more than 181 million followers on his own social network.', 'In the other, political leaders representing a country of just 26 million people.', 'Insults have been hurled for days by both sides in an increasingly bare-knuckled fight between X owner Elon Musk and the Australian government that’s playing out both online and in the Federal Court.', 'At issue is the right of X to publish a video showing the moment a 16-year-old allegedly stabbed a bishop in an Orthodox Christian Church in Sydney earlier this month.', 'Australian authorities say the clips threw fuel on a riot that erupted outside the church after the attack and shouldn’t be available for general viewing on a global platform, where it could be used to radicalize potential offenders.', 'The country’s e-safety commissioner ordered social media giants to take it down.', 'Most complied, but X didn’t go far enough, according to the commissioner.', 'Australia wants X to remove the video completely, not just hide it from Australian users who could circumvent a local ban by using virtual private networks.', 'X says that’s an assault on free speech.', '“Our concern is that if ANY country is allowed to censor content for ALL countries, which is what the Australian ‘eSafety Commissar’ is demanding, then what is to stop any country from controlling the entire Internet?', 'Musk posted on X.  Australian Prime Minister Anthony Albanese on Tuesday labelled Musk an “arrogant billionaire who thinks he’s above the law, but also above common decency.”', 'After deleting her X account and urging other politicians to do the same, Jacqui Lambie, a straight-talking senator and former soldier from Tasmania, posted an image of herself on Facebook dressed in army fatigues with a message to Musk to “put his big boy pants on and do the right thing.”', 'The post dropped around midnight in the United States, and as of writing, the X boss hadn’t responded.', 'Though her previous calls on national television for Musk to be jailed resulted in him branding her “an enemy of the people of Australia.”', 'X did not reply to a request for comment.', 'On Wednesday, more than a week after the attack, the video was still available to view on the X account of theAustralian Jewish Association (AJA).', 'President David Adler told CNN he hadn’t been asked to take it down, either by X or Australia’s e-safety commissioner.', 'Adler said the AJA received an email from X saying Australian authorities had contacted the company with a takedown request, noting the video “violates the law(s) of Australia.”', 'According to the email, seen by CNN, X said: “We want you to have an opportunity to evaluate the request and, if you wish, take appropriate action to protect your interests.”', 'The AJA hasn’t taken the video down, because Adler believes it’s important for people to see.', '“The reason we did that is because security issues are of critical interest to the Jewish community,” said Adler. “', 'Politicians are not adequately taking the risks of extremism seriously enough.', 'And one of the benefits of showing exactly what happened is a public awakening.', 'Politicians often won’t act without public pressure and there needs to be a bit of an awakening about the risk.”', 'CNN contacted the eSafety office for comment about the AJA’s decision not to remove the video.', 'On Wednesday, the risks of extremism became apparent with a series of raids at 13 locations in Sydney by the Joint Counter Terrorism Team related to the church attack.', 'Seven youths, age 15 to 17, were arrested and five were helping police with their inquiries, Australian Federal Police (AFP) Deputy Commissioner Krissy Barrett told a news conference.', '“We identified links between the alleged offender and a network of associates and peers who we believe shared a similar violent extremist ideology,” she said. “', 'At this time, we have no evidence of specific locations, times or targets of a violent act.”', 'The arrests came as the heads of the AFP and Australia’s Security Intelligence Organisation (ASIO) gave a joint address to the National Press Club warning that the risks are extreme — and urging social media companies to work with police against forces seeking to radicalize children.', '“Some of our children and other vulnerable people are being bewitched online by a cauldron of extremist poison on the open and dark web.', 'And that’s one serious problem.', 'The other is that the very nature of social media allows that extremist poison to spray across the globe almost instantaneously,” said AFP Commissioner Reece Kershaw.', 'Musk’s refusal to take down the videos resulted in Australia’s e-safety commissioner taking legal action on X to act or risk fines of up to 782,500 Australian dollars ($508,000) for each day of non-compliance.', 'On Wednesday, the parties were back in the Federal Court in Sydney, where X lawyer Marcus Hoynemade clear that the social media platform hadn’t changed its position and would fight what he called the commissioner’s attempted reach over an “exorbitant jurisdiction.”', 'He said X would file an affidavit from Bishop Mar Mari Emmanuel, the cleric who was stabbed multiple times during the church attack, “stating that he is strongly of the view that the material should be available.”', 'Christ The Good Shepherd Church, where the attack happened, declined to comment when contacted by CNN.', 'Joanne Gray, a lecturer in digital cultures at the University of Sydney, said the e-safety commissioner’s attempt to extend the takedown orders beyond Australia’s borders was not an overreach.', '“There’s a long history of platforms working with policymakers and civil society and different groups to moderate content, and Musk’s position is a deviation from that,” she told CNN.', 'Gray said taking down harmful material in the jurisdiction where it was published typically limits its spread and any potential harm caused, though conceded the system isn’t perfect.', 'Gray said Musk was trying to apply his stated belief in free speech absolutism to Australia, not to set a precedent for other platforms to follow.', '“It’s extremely problematic that any individual has control over a communication platform that has the potential to reach a global audience in a way that is unaccountable,” she said.', 'Musk’s fight with the Australian government is one of many the billionaire is waging against authorities he accuses of imposing limits on free speech.', 'Since Musk bought X, formerly known as Twitter, in 2022, he has stripped back its content moderation and reinstated some previously blocked accounts, earning him strong support from loyal followers.', 'In a statement Wednesday, Australia’s eSafety commissioner said the takedown request wasn’t designed to stifle discussion about the church attack.', '“The removal notice given to X Corp does not relate to commentary, public debate or other posts about this event, even those which may link to extreme violent content.', 'It only concerns the video of the violent stabbing attack,” it said.', 'Musk’s supporters have applauded the billionaire’s stance in Australia and taken aim at his critics.', 'Lambie’s office confirmed there had been an increase in the trolling of her Facebook account, and Wednesday’s post was closed for comments in order to discourage more.', 'The court granted a further injunction requiring X to hide the violent material until May 10, when all parties will return to court.']",-0.149550412767953,"According to the email, seen by CNN, X said: “We want you to have an opportunity to evaluate the request and, if you wish, take appropriate action to protect your interests.”","On Wednesday, the risks of extremism became apparent with a series of raids at 13 locations in Sydney by the Joint Counter Terrorism Team related to the church attack.",-0.1259015032223292,"Since Musk bought X, formerly known as Twitter, in 2022, he has stripped back its content moderation and reinstated some previously blocked accounts, earning him strong support from loyal followers.","Musk’s refusal to take down the videos resulted in Australia’s e-safety commissioner taking legal action on X to act or risk fines of up to 782,500 Australian dollars ($508,000) for each day of non-compliance.",2024-04-24
-Boeing to pay $443 million to airlines for Max 9 grounding as losses and problems mount,https://edition.cnn.com/2024/04/24/business/boeing-losses/index.html,"
-  Updated
-        3:10 PM EDT, Wed April 24, 2024
-    ","Boeing reported a slightly smaller loss in the first quarter compared to the same time a year ago, but said fixing the problems that got attention after the Alaska Air incident will push back its financial recovery and cost it $443 million in compensation to its airline customers.
-    
-            Boeing reported a core operating loss of $388 million, or $1.13 a share, from the $440 million it lost on that basis a year earlier. That was significantly less than analysts’ forecast of $1.63 a share in the quarter. But the improvement came from outside its key commercial airplanes unit, where losses from operations nearly doubled to $1.1 billion.
-    
-            Revenue tumbled $1.4 billion, or 8% to $16.6 billion, as the problems at the airplane maker resulted in a sharp drop in deliveries of jets to its airline customers. The company gets most of its money from sales of commercial planes only upon deliveries to customers.
-    
-            The slightly better than expected financial results don’t make up for a company struggling with questions from Congress, regulators and the traveling public about the quality and safety of its aircraft. It is not only scrambling to repair its badly damaged reputation but also to satisfy airline customers being hurt by not receiving the aircraft they had been promised. Boeing said it is taking the necessary steps to fix the quality issues. But those fixes will continue to cause additional losses and missed delivery targets in the months ahead.
-    
-            Boeing said it would produce fewer 737 Max jets than it originally planned for the rest of this year as it tries to fix problems on its assembly lines. Production of its larger 787 Dreamliner will also be limited by supplier issues, it said.
-    
-            “We will take the time necessary to strengthen our quality and safety management systems, and this work will position us for a stronger and more stable future,” said CEO Dave Calhoun, who announced during the quarter his plans to leave his post by the end of the year.
-    
-            The company said the results were hurt by the compensation to airline customers for the three-week grounding of the 737 Max 9 jets, following a January 5 incident in which a door plug blew off of an Alaska Airlines flight leaving a gaping hole in the side of the plane shortly after take-off.
-    
-            Alaska Air and United Airlines, the two carriers with the most 737 Max 9 planes in their fleets, have already announced they had reached compensation agreements with Boeing.
-    
-            The incident has sparked a series of investigations into Boeing by the National Transportation Safety Board, the Federal Aviation Administration and the Justice Department, the latter of which could expose the company to criminal liability. It also focused attention on the safety and quality of its aircraft, and its way of treating employees who raise concerns about those issues, including congressional hearings.
-    
-            Boeing has said it has made a new commitment to improving its quality and safety issues and that it wants employees with concerns to bring them forward.
-    
-            Calhoun said he’s confident that Boeing will be able to make the changes it needs to return to profitability for the first time since 2018, but he said the changes it will be making will delay the timeline to be profitable once again.
-    
-            “While this effort will slow our recovery timing, we are now seeing proof points that give us confidence that we’ll begin to stabilize and improve performance moving forward,” he said on the company’s investors call.
-    
-            The company would not give any guidance for how much money it will lose this year or exactly when it expects to be profitable. Calhoun said the company is confident with its goal of producing positive cash flow of $10 billion a year, although he said it is now looking to do that later in the 2025 to 2026 window it had set as its goal.
-    
-            “We are absolutely committed to doing everything that we can to make certain our regulators, our customers, and most importantly, our employees and the public are 100% confident in Boeing,” he said. “It is important that our people and our stakeholders understand how promising Boeing’s future looks. Demand across our portfolio remains incredibly strong. Our people are world class. There’s a lot of work in front of us, but I’m proud of our team and remain fully confident in our future.”
-    
-            But credit rating agency Moody’s doesn’t have as much confidence in Boeing’s outlook for turning things around. It downgraded the company’s credit rating to Baa2, just one step above junk bond status, and it gave it a negative outlook, suggesting another downgrade could be on the horizon.
-    
-            Moody’s said it believes “the headwinds buffeting commercial airplanes will now persist at least through 2026.” And it said that the company’s projected annual cash flow will fall short of the $4.3 billion of debt coming due in 2025 and also the $8.0 billion coming due in 2026, and that Boeing will therefore have to issue new debt to fund those shortfalls.
-    
-            Shares of Boeing (BA), which had lost 35% so far this year through Tuesday’s close, were down another 3% in afternoon trading following the investors call, after being up more than 3% in early trading on the smaller-than-forecast loss.
-    
-            Boeing has had a string of losses and problems with its planes’ quality dating back at least five years. Two fatal crashes of the 737 Max in late 2018 and early 2019 that killed 346 people were tied to a design flaw in the plane and led to a 20-month grounding of Boeing’s best-selling model. It had subsequent problems with the quality of jets once the 737 Max was returned to service.
-    
-            All told the company has reported core operating losses of $31.9 billion since the start of the grounding in 2019.
-    
-            But it reported a record month for orders in December, capping what had been one of its best years ever in terms of commercial jet sales. Deliveries also reached a five-year high, and it even reported a rare core operating profit of $90 million for the fourth quarter of 2023. It also announced plans to increase production of the 737 Max throughout 2024 in order to return to sustained profitability.
-    
-            But by the time it reported those better results for 2023, the incident aboard the Alaska Air flight had already occurred, dashing hopes that it was about to put its financial problems behind it.
-    
-            While the NTSB has not determined who specifically is at fault for the accident, a preliminary investigation has found that the jet left a Boeing factory missing the four bolts needed to hold the door plug in place.
-    
-            This story has been updated to reflect additional reporting and context.",CNN,24/04/2024,"['Boeing reported a slightly smaller loss in the first quarter compared to the same time a year ago, but said fixing the problems that got attention after the Alaska Air incident will push back its financial recovery and cost it $443 million in compensation to its airline customers.', 'Boeing reported a core operating loss of $388 million, or$1.13 a share, from the $440 million it lost on that basis a year earlier.', 'That was significantly less than analysts’ forecast of $1.63 a share in the quarter.', 'But the improvement came from outside its key commercial airplanes unit, where losses from operations nearly doubled to $1.1 billion.', 'Revenue tumbled $1.4 billion, or 8% to $16.6 billion, as the problems at the airplane maker resulted in a sharp drop in deliveries of jets to its airline customers.', 'The company gets most of its money from sales of commercial planes only upon deliveries to customers.', 'The slightly better than expected financial results don’t make up for a company struggling with questions from Congress, regulators and the traveling public about the quality and safety of its aircraft.', 'It is not only scrambling to repair its badly damaged reputation but also to satisfy airline customers being hurt by not receiving the aircraft they had been promised.', 'Boeing said it is taking the necessary steps to fix the quality issues.', 'But those fixes will continue to cause additional losses and missed delivery targets in the months ahead.', 'Boeing said it would produce fewer 737 Max jets than it originally planned for the rest of this year as it tries to fix problems on its assembly lines.', 'Production of its larger 787 Dreamliner will also be limited by supplier issues, it said.', '“We will take the time necessary to strengthen our quality and safety management systems, and this work will position us for a stronger and more stable future,” said CEO Dave Calhoun, who announced during the quarter his plans to leave his post by the end of the year.', 'The company said the results were hurt by the compensation to airline customers for the three-week grounding of the 737 Max 9 jets, following a January 5 incident in which a door plug blew off of an Alaska Airlines flight leaving a gaping hole in the side of the plane shortly after take-off.', 'Alaska Air and United Airlines, the two carriers with the most 737 Max 9 planes in their fleets, have already announced they had reached compensation agreements with Boeing.', 'The incident has sparked a series of investigations into Boeing by the National Transportation Safety Board, the Federal Aviation Administration and the Justice Department, the latter of whichcould expose the company to criminal liability.', 'It also focused attention on the safety and quality of its aircraft, and its way of treating employees who raise concerns about those issues, including congressional hearings.', 'Boeing has said it has made a new commitment to improving its quality and safety issues and that it wants employees with concerns to bring them forward.', 'Calhoun said he’s confident that Boeing will be able to make the changes it needs to return to profitability for the first time since 2018, but he said the changes it will be making will delay the timeline to be profitable once again.', '“While this effort will slow our recovery timing, we are now seeing proof points that give us confidence that we’ll begin to stabilize and improve performance moving forward,” he said on the company’s investors call.', 'The company would not give any guidance for how much money it will lose this year or exactly when it expects to be profitable.', 'Calhoun said the company is confident with its goal of producing positive cash flow of $10 billion a year, although he said it is now looking to do that later in the 2025 to 2026 window it had set as its goal.', '“We are absolutely committed to doing everything that we can to make certain our regulators, our customers, and most importantly, our employees and the public are 100% confident in Boeing,” he said. “', 'It is important that our people and our stakeholders understand how promising Boeing’s future looks.', 'Demand across our portfolio remains incredibly strong.', 'Our people are world class.', 'There’s a lot of work in front of us, but I’m proud of our team and remain fully confident in our future.”', 'But credit rating agency Moody’s doesn’t have as much confidence in Boeing’s outlook for turning things around.', 'It downgraded the company’s credit rating to Baa2, just one step above junk bond status, and it gave it a negative outlook, suggesting another downgrade could be on the horizon.', 'Moody’s said it believes “the headwinds buffeting commercial airplanes will now persist at least through 2026.”', 'And it said that the company’s projected annual cash flow will fall short of the $4.3 billion of debt coming due in 2025 and also the $8.0 billion coming due in 2026, and that Boeing will therefore have to issue new debt to fund those shortfalls.', 'Shares of Boeing (BA), which had lost 35% so far this year through Tuesday’s close, were down another 3% in afternoon trading following the investors call, after being up more than 3% in early trading on the smaller-than-forecast loss.', 'Boeing has had a string of losses and problems with its planes’ quality dating back at least five years.', 'Two fatal crashes of the 737 Max in late 2018 and early 2019 that killed 346 people were tied to a design flaw in the plane and led to a 20-month grounding of Boeing’s best-selling model.', 'It had subsequent problems with the quality of jets once the 737 Max was returned to service.', 'All told the company has reported core operating losses of $31.9 billion since the start of the grounding in 2019.', 'But it reported a record month for orders in December, capping what had been one of its best years ever in terms of commercial jet sales.', 'Deliveries also reached a five-year high, and it even reported a rare core operating profit of $90 million for the fourth quarter of 2023.', 'It also announced plans to increase production of the 737 Max throughout 2024 in order to return to sustained profitability.', 'But by the time it reported those better results for 2023, the incident aboard the Alaska Air flight had already occurred, dashing hopes that it was about to put its financial problems behind it.', 'While the NTSB has not determined who specifically is at fault for the accident, a preliminary investigation has found that the jet left a Boeing factory missing the four bolts needed to hold the door plug in place.', 'This story has been updated to reflect additional reporting and context.']",0.0908351697030392,"There’s a lot of work in front of us, but I’m proud of our team and remain fully confident in our future.”","While the NTSB has not determined who specifically is at fault for the accident, a preliminary investigation has found that the jet left a Boeing factory missing the four bolts needed to hold the door plug in place.",-0.0024194962838116,It also announced plans to increase production of the 737 Max throughout 2024 in order to return to sustained profitability.,"Revenue tumbled $1.4 billion, or 8% to $16.6 billion, as the problems at the airplane maker resulted in a sharp drop in deliveries of jets to its airline customers.",2024-04-24
-Tesla recalls Cybertruck due to accelerator pedal that can stick,https://edition.cnn.com/2024/04/19/business/tesla-cybertruck-recall/index.html,"
-  Updated
-        9:02 AM EDT, Fri April 19, 2024
-    ","Tesla has been ordered to recall nearly 4,000 of its Cybertrucks due to an accelerator pedal that can stick in place when pressed down.
-    
-            The cause, according to the regulator: soap.
-    
-            “An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.
-    
-            Tesla has yet to detail how many of the futuristic looking Cybertrucks it has produced. But it has said that it would be slow ramping up production of the vehicle, which had its first deliveries in late November.
-    
-            The NHTSA said the recall affects “all Model Year (‘MY’) 2024 Cybertruck vehicles manufactured from November 13, 2023, to April 4, 2024.”
-    
-            That means the 3,878 trucks being recalled are likely many, if not all, of the trucks now on US roads.
-    
-            Documents from the National Highway Traffic Safety Administration about the recall say that “when high force is applied to the pad on the accelerator pedal, the pad may dislodge, which may cause the pedal to become trapped in the interior trim above the pedal.”
-    
-            The safety regulator said workers assembling the trucks at Tesla’s factory near Austin, Texas, improperly used soap to aid in the component assembly of the pad onto the accelerator pedal.
-    
-            The accelerator sticking issue was first raised in social media and online discussion group posts.
-    
-            On Monday, NHTSA told CNN it had reached out to Tesla requesting more information on the issue.
-    
-            Telsa did not immediately respond to a request for comment. The company this month told employees it would lay off roughly 10% of its global workforce.
-    
-            Unlike many Tesla recalls, this one cannot be fixed with a simple over-the-air software update. Tesla will have to have owners respond to letters and bring the Cybertrucks into its service centers for a repair at no charge.",CNN,19/04/2024,"['Tesla has been ordered to recall nearly 4,000 of its Cybertrucks due to an accelerator pedal that can stick in place when pressed down.', 'The cause, according to the regulator: soap.', '“An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal.', 'Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.', 'Tesla has yet to detail how many of the futuristic looking Cybertrucks it has produced.', 'But it has said that it would be slow ramping up production of the vehicle, which had its first deliveries in late November.', 'The NHTSA said the recall affects “all Model Year (‘MY’) 2024 Cybertruck vehicles manufactured from November 13, 2023, to April 4, 2024.”', 'That means the 3,878 trucks being recalled are likely many, if not all, of the trucks now on US roads.', 'Documents from the National Highway Traffic Safety Administration about the recall say that “when high force is applied to the pad on the accelerator pedal, the pad may dislodge, which may cause the pedal to become trapped in the interior trim above the pedal.”', 'The safety regulator said workers assembling the trucks at Tesla’s factory near Austin, Texas, improperly used soap to aid in the component assembly of the pad onto the accelerator pedal.', 'The accelerator sticking issue was first raised in social media and online discussion group posts.', 'On Monday, NHTSA told CNN it had reached out to Tesla requesting more information on the issue.', 'Telsa did not immediately respond to a request for comment.', 'The company this month told employees it would lay off roughly 10% of its global workforce.', 'Unlike many Tesla recalls, this one cannot be fixed with a simple over-the-air software update.', 'Tesla will have to have owners respond to letters and bring the Cybertrucks into its service centers for a repair at no charge.']",-0.0165502887718699,"The safety regulator said workers assembling the trucks at Tesla’s factory near Austin, Texas, improperly used soap to aid in the component assembly of the pad onto the accelerator pedal.",“An unapproved change introduced lubricant (soap) to aid in the component assembly of the pad onto the accelerator pedal.,-0.9255235493183136,,"Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.",2024-04-24
-OpenAI’s wild week. How the Sam Altman story unfolded,https://edition.cnn.com/2023/11/22/tech/openai-sam-altman-chaos-explained-intl-hnk/index.html,"
-  Updated
-        3:32 PM EST, Wed November 22, 2023
-    ","In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.
-    
-            Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps the most visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move. Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.
-    
-            The series of extraordinary events unfolded just days after OpenAI held its first-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.
-    
-            If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.
-    
-            Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientist Ilya Sutskever, during which Altman was fired and told that the news would soon be made public.
-    
-            Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.
-    
-            Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board. The board said Mira Murati, the company’s chief technology officer, would become interim CEO.
-    
-            OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.
-    
-            Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”
-    
-            Brockman promptly quit. “Please don’t spend any time being concerned. We will be fine,” Brockman said in a Friday post on X. “Greater things coming soon.”
-    
-            A key factor in the CEO’s firing was tension between Altman, who favored developing AI more aggressively, and members of the OpenAI board, who wanted to move more cautiously, according to CNN contributor Kara Swisher, who spoke to sources knowledgeable about the unfolding events.
-    
-            Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.
-    
-            OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.
-    
-            By Sunday afternoon, Altman was back at OpenAI’s headquarters — this time with a guest badge — to negotiate his potential return. Microsoft CEO Satya Nadella reportedly mediated the discussion. A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.
-    
-            But those talks broke down.
-    
-            As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group. At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch. Murati would return to her role as OpenAI’s chief technology officer.
-    
-            In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity. He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.
-    
-            But OpenAI employees were not convinced. More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman. They also threatened to follow the co-founders to Microsoft if their demands were not met.
-    
-            Altman posted on X, saying, “we have more unity and commitment and focus than ever before. we are all going to work together some way or other, and i’m so excited. one team, one mission.”
-    
-            The drama was far from over. The Verge reported Monday afternoon that Altman and Brockman could still return to OpenAI if the board members who fired him resign.
-    
-            And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.
-    
-            “Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”
-    
-            Altman was reinstated late Tuesday as OpenAI’s CEO, the company said on X.
-    
-            “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce. Former Treasury Secretary Larry Summers will also join the board, alongside existing director, Quora CEO Adam D’Angelo.
-    
-            “We are collaborating to figure out the details,” it said.
-    
-            In his own post on X, formerly Twitter, Altman wrote that he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.
-    
-            It’s unclear how Shear will be affected by Altman’s return. Posting on X, Shear wrote: “I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”
-    
-            Brockman is also returning to OpenAI, according to his post on X.
-    
-            Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found. And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.
-    
-            “We are encouraged by the changes to the OpenAI board,” Nadella said on X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”",CNN,22/11/2023,"['In a year of wild tech stories that has seen Elon Musk transform Twitter, cryptocurrency exchange FTX collapse and Silicon Valley Bank implode, this week’s whiplash-inducing turmoil at OpenAI is among the most captivating.', 'Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.', 'Less than five days later, he’s back as the company’s CEO, now with a board that is, in theory, more supportive of his vision.', 'The series of extraordinary events unfolded just days after OpenAI held itsfirst-ever developer conference, where it laid out new, commercialized versions of its technology, including the option to customize its ChatGPT AI chatbot.', 'If you’re just catching up, here’s what you missed from a week so incredible you’d be forgiven for thinking the script could have been written by an early version of OpenAI’s ChatGPT.', 'Around 3 p.m. ET, Altman joined a Google Meet call with most of OpenAI’s board that had been convened by fellow co-founder and OpenAI chief scientistIlya Sutskever, during which Altman was fired and told that the news would soon be made public.', 'Within the next half hour, the board also informed Greg Brockman, another co-founder and OpenAI president, that he would be removed from the board.', 'Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.', 'The board said Mira Murati, the company’s chief technology officer, would become interim CEO.', 'OpenAI’s strategic partners, including its biggest financial backer Microsoft, were also reportedly informed of Altman’s ouster just minutes before the board’s announcement.', 'Hours after being fired, Altman posted on X that he “loved working with such talented people” and that he would have “more to say about what’s next later.”', 'Brockman promptly quit. “', 'Please don’t spend any time being concerned.', 'We will be fine,” Brockmansaid in a Friday poston X. “Greater things coming soon.”', 'A key factor in the CEO’s firing wastension between Altman, who favored developing AImore aggressively, and members of the OpenAI board, who wanted to move more cautiously,according to CNN contributor Kara Swisher,who spoke to sources knowledgeable about the unfolding events.', 'Within 24 hours of Altman being fired, reports emerged that he and other ex-OpenAI loyalists were mulling plans for their own venture.', 'OpenAI’s board was also reportedly having second thoughts and considering asking the ousted CEO to return.', 'By Sunday afternoon, Altman wasback at OpenAI’s headquarters— this time with a guest badge — to negotiate his potential return.', 'Microsoft CEO Satya Nadella reportedly mediated the discussion.', 'A 5 p.m. PT deadline was reportedly set for the board to agree to Altman’s demands, including adding a seat for Microsoft, and reinstating him as CEO.', 'But those talks broke down.', 'As Sunday turned into Monday, Nadella tweeted that Altman, along with Brockman, would join Microsoft to run a new AI research group.', 'At OpenAI, the group found a new interim CEO: Emmett Shear, the former CEO of Amazon’s streaming service, Twitch.', 'Murati would return to her role as OpenAI’s chief technology officer.', 'In a post on X early Monday, Shear, who left his role at Twitch in March, described the chance to join OpenAI as “a once-in-a-lifetime” opportunity.', 'He added that the company would hire an independent investigator to report on what happened in the lead-up to Altman’s firing.', 'But OpenAI employees were not convinced.', 'More than 500 staffers signed an open letter calling on the company’s board to resign and reinstate Altman and Brockman.', 'They also threatened to follow the co-founders to Microsoft if their demands were not met.', 'Altman posted on X, saying, “we have more unity and commitment and focus than ever before.', 'we are all going to work together some way or other, and i’m so excited.', 'one team, one mission.”', 'The drama was far from over.', 'The Verge reported Monday afternoonthat Altman and Brockman could still return to OpenAI if the board members who fired him resign.', 'And Nadella, speaking to CNBC, said he was “open to both options” when asked whether Altman would actually join Microsoft.', '“Look, that is for the OpenAI board and management and the employees to choose,” Nadella said. “', 'We chose to explicitly partner with OpenAI and we want to continue to do so, and obviously, that depends on the people of OpenAI staying there or coming to Microsoft.”', 'Altmanwas reinstated late Tuesday as OpenAI’s CEO, the company said on X.  “We have reached an agreement in principle for Sam Altman to return to OpenAI as CEO with a new initial board,” the company said, adding that the board will be chaired by Bret Taylor, a former co-CEO of Salesforce.', 'Former Treasury SecretaryLarry Summers will also join the board, alongside existing director, Quora CEOAdam D’Angelo.', '“We are collaborating to figure out the details,” it said.', 'In his own post on X, formerly Twitter, Altmanwrotethat he is “looking forward” to returning to OpenAI and building on the firm’s “strong partnership” with Microsoft.', 'It’s unclear how Shear will be affected by Altman’s return.', 'Posting on X, Shear wrote:“I am deeply pleased by this result, after (some) 72 very intense hours of work … I’m glad to have been a part of the solution.”', 'Brockman is also returning to OpenAI, according to hispost on X.  Ultimately, Microsoft and Altman appear to be the big winners from the dust-up: Altman will continue leading the firm he helped to found.', 'And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.', '“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”']",0.062777217389235,"“We are encouraged by the changes to the OpenAI board,” Nadellasaidon X. “We believe this is a first essential step on a path to more stable, well-informed, and effective governance.”","Around 3:30 p.m. ET, OpenAI publicly announced that it had fired Altman over concerns that he was not always truthful with the board.",0.549453833273479,And Microsoft has wrested more control over the company it has backed with billions to bolster its ambitions in developing AI.,"Sam Altman — the leader of one of the world’s most influential AI companies, OpenAI, and perhaps themost visible figure in the fledgling industry — was fired Friday night by the startup’s directors in a surprise move.",2024-04-24