Author: Press Room

OpenAI has disbanded its team focused on the long-term risks of artificial intelligence just one year after the company announced the group, a person familiar with the situation confirmed to CNBC on Friday.The person, who spoke on condition of anonymity, said some of the team members are being reassigned to multiple other teams within the company.The news comes days after both team leaders, OpenAI co-founder Ilya Sutskever and Jan Leike, announced their departures from the Microsoft-backed startup. Leike on Friday wrote that OpenAI’s “safety culture and processes have taken a backseat to shiny products.”OpenAI did not immediately provide a comment to…

Shareholders of embattled airplane maker Boeing approved a pay package of nearly $33 million for outgoing CEO Dave Calhoun at the company’s annual general meeting on Friday. That’s the highest package ever paid to the company’s CEO and a 45% increase from the $22.6 million he received for 2022. The vast majority of the bump comes from a giant stock bonus granted on top of his more-than-a-million-dollar salary. Calhoun, who has led Boeing since 2020, announced in March that he will leave the company by the end of the year. The shareholder vote on Friday was made to approve Calhoun’s 2023…

Last updated: May 17, 2024 13:41 EDT | 2 min read Tigran Gambaryan, the Binance executive detained in Nigeria, was denied bail on his 40th birthday, according to a court hearing in Abuja on Friday.According to Nigerian media outlet Punch News, Judge Emeka Nwite ordered the crypto exchange’s Head of Compliance to stay in prison, citing his potential to jump bail if granted.Nigerian Binance Executive Tigran Gambaryan Denied Bail, Wife Speaks OutGambaryan was originally detained alongside Binance’s Regional Manager for Africa, Nadeem Anjarwalla, in late February before being charged with money laundering and tax evasion.Anjarwalla later fled on foot and…

In a few weeks, the investment banking industry’s youngest ranks — summer analysts — will descend upon financial firms for one of the biggest trials of their young lives.Snagging a summer internship at a leading investment bank is not just a fun summer job — it’s often the starting point for a career on Wall Street. How interns perform, therefore, can be extremely consequential.”This is a 10-week extended job interview,” Steve Sibley, a professor at Indiana University’s Kelley School of Business, explained in a 2023 interview. “It’s a 10-week test drive or trial run for the bank with you as…

Elon Musk is wading into a war with Brazil over orders from the country’s supreme court to ban certain X accounts that helped spread election misinformation.While the country deals with a debate about balancing free speech with significant threats to its democracy, Musk’s outsize voice — which is emboldening an antidemocratic wing of the far-right — isn’t helping, a civil-liberties expert told Business Insider.Musk posted on Saturday that he’d oppose an order from Alexandre de Moraes, a top judge on Brazil’s supreme court, to ban an unknown number of X accounts related to Brazil’s far right after an official X…

Copa Holdings, S.A. (NYSE:CPA) Q1 2024 Earnings Conference Call May 16, 2024 11:00 AM ET Company Participants Daniel Tapia – Director, IRPedro Heilbron – CEOJosé Montero – CFO Conference Call Participants Savi Syth – Raymond JamesDuane Pfennigwerth – EvercoreRogerio Araujo – Bank of AmericaHelane Becker – TD CowenAlberto Valerio – UBSMichael Linenberg – Deutsche BankPablo Monsivais – Copa BarclaysJay Singh – Citi Operator Ladies and gentlemen, thank you for standing by. Welcome to the Copa Holdings First Quarter Earnings Call. During the presentation, all participants will be in a listen-only mode. Afterwards, we’ll conduct a question-and-answer session. [Operator Instructions] As…

Unlock the US Election Countdown newsletter for freeThe stories that matter on money and politics in the race for the White HouseJoe Biden has blocked the release of audio recordings of his interviews with the special counsel who sparked a political firestorm in February by casting the US president as an “elderly man with a poor memory”.In a letter to House Republican lawmakers on Thursday, the White House said that the president was asserting executive privilege over the recordings, which were made as the special counsel investigated Biden’s handling of classified documents. House Republicans had subpoenaed the tapes and threatened…

Robert F. Kennedy Jr.’s running mate, Nicole Shanahan, says their campaign supports federal limits restricting abortion access “between 15 and 18 weeks” of gestation, the latest statement on the issue after the campaign walked back recent comments made by Kennedy in opposition to government limits on abortion. Shanahan said in an interview on the “Cartier Family” podcast released Wednesday that the Kennedy campaign “very much supports limits” on abortion access, explaining that the independent presidential candidate arrived at the position after conversations with both abortion rights advocates and anti-abortion supporters on his campaign. “The campaign stance right now is very…

A new challenge is emerging in the U.S. retirement landscape. While many people now understand the importance of saving for retirement, there is limited guidance on transitioning from saving during working years to spending in retirement years. According to a recent McKinsey retirement report, only 19% of pre-retirees are likely to be fully financially secure, highlighting the magnitude of this challenge. Over the past decade, according to Carulli, U.S. retirement account balances have grown to $23 trillion. Despite the asset growth, many individuals feel unprepared and lack the necessary assets and financial knowledge as they approach retirement. This gap presents…

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own. The interest rate on a 15-year fixed-rate mortgage is 6.500% as of April 25, which is unchanged from yesterday. Additionally, the interest rate on a 30-year fixed-rate mortgage is 7.500%, which is also unchanged from yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying…