In a tweet late Friday night, Elon Musk, the CTO of social media platform X, threatened to file a lawsuit against Media Matters and others for what he called a “fraudulent attack” on their company. This came after a report last week from Media Matters for America (MMFA) showed ads for mainstream brands on X…
Legendary value investor Jeremy Grantham has launched his firm’s first active ETF called the GMO U.S. Quality ETF. He has put GMO partner Tom Hancock in charge of it. According to Hancock, interest in active ETFs has increased in recent years, especially among institutional clients, due to tax advantages and ease of trading. The new…
Bridgewater Founder Ray Dalio Warns U.S. Debt Nearing ‘Inflection Point’ In a recent appearance on CNBC’s “Squawk Box,” Ray Dalio, the founder of Bridgewater Associates, issued a warning about the escalating U.S. government debt. Dalio emphasized that the mounting debt could lead to bigger economic, political, and social problems for the country. The U.S. currently…
Republican Rep. George Santos of New York is facing expulsion from Congress after a damning report found evidence of campaign fraud and theft. The House Ethics Committee chairman, Michael Guest, filed a resolution to expel Santos, stating that the evidence uncovered during the investigation is grounds for punishment in the form of expulsion. The resolution…
Inflation rates are cooling, which has led to an increase in optimism for rate cuts and a rise in stock market performance in November. Goldman Sachs has projected an 8% climb for the S&P 500 in 2024, attributing this to pre-2008 conditions returning. The general consensus is that the Federal Reserve is nearing the end…
OpenAI Fires CEO Sam Altman In a sudden turn of events, Sam Altman has been fired as CEO of OpenAI, the developer of AI chatbot ChatGPT. The company’s board cited a loss of confidence in Altman’s leadership abilities as the reason for his dismissal. Chief Technology Officer Mira Murati will serve as the interim CEO,…
Boston Fed President Susan Collins: More rate hikes may be needed despite recent inflation signs Boston Federal Reserve President Susan Collins cautioned that despite recent positive signs on inflation, more interest rate hikes could still be necessary. In an interview with CNBC, Collins emphasized the importance of appreciating the good news but also staying the…
Investors look forward to Federal Reserve rate cuts next year, but experts warn that it could signal a slowing economy. Amid falling inflation and the Fed’s reluctance to increase its benchmark rate further, investors are increasingly anticipating a reduction in interest rates in 2024. According to the CME FedWatch tool, markets are pricing in a…
AI Startup Executive Resigns Amid Dispute Over Use of Copyrighted Works Ed Newton-Rex, the head of audio at Stability AI, made a dramatic exit from the AI startup this week, following a dispute over the use of copyrighted material to train the company’s AI models. Newton-Rex opposed Stability’s position that it should be able to…
Amazon announces layoffs in India and around the world, with “several hundred employees” from its Alexa division being impacted. The e-commerce giant is focusing on artificial intelligence (AI) and will consult with affected employees to communicate the decision. The layoffs are part of a shift in priorities to better align with customer needs, according to…
