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TikTok CEO Shou Chew dodged questions Thursday about whether tactics by parent company ByteDance used to “spy” on American journalists could be used to target more Americans. House Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers of Washington questioned Chew on reporting by Forbes that staff at ByteDance used TikTok data last year to surveil journalists who were covering the company, gaining access to their IP addresses to track whether they had been in proximity to ByteDance employees. “TikTok spied on American journalists. Can you say with 100% certainty that neither ByteDance, nor TikTok employees, can target other Americans with similar surveillance?” TikTok CEO: “I disagree with the characterization that it was ‘spying.'” pic.twitter.com/EjWPzuvcec — RNC Research (@RNCResearch) March 23, 2023 “TikTok spied on American journalists. Can you say with 100% certainty that neither ByteDance, nor TikTok employees, can target other Americans with … [Read more...] about TikTok CEO Dodges On Whether Company Will Cease ‘Spying’ On Americans

A recall of New Orleans Democratic Mayor LaToya Cantrell has failed due to a large number of petition signatures being deemed invalid, according to The Associated Press. Most of the petition’s 67,000 signatures were deemed invalid by the registrar, leaving the petition short by roughly 18,000 signatures to recall the mayor, the AP reported . Democratic Gov. John Bel Edwards declared that just 27,243 were valid, while the petition would need 44,975 to become effective. “Now, with the divisiveness of the failed recall campaign officially behind us, we must heal and recommit ourselves to working collaboratively to continue the progress we’ve made towards reducing crime, increasing public safety, building a more sustainable and resilient city and creating economic and job opportunities that benefit all of our people,” Cantrell said in a statement provided to the Daily Caller News Foundation. The signatures could have been declared invalid for many reasons, like being … [Read more...] about Petition Fails To Recall Mayor Of Crime-Stricken Blue City After Majority Of Signatures Deemed Invalid

Last season’s record revenue for Major League Baseball translates into all-time-high valuations for its teams. By Mike Ozanian and Justin Teitelbaum T he eroding economics of regional sports networks made little difference: Major League Baseball teams are still hot assets. Before Arte Moreno pulled the plug on selling his Los Angeles Angels in January, he would have gotten at least $2.7 billion, or $280 million more than the MLB record $2.42 billion that Steve Cohen paid for the New York Mets in 2020, according to people familiar with the sale process. The average MLB team value is up 12% this year, to $2.32 billion. During the 2022 season, revenue (net of stadium debt service) increased 7.8%, to an all-time high of $10.3 billion. The top-line gain was driven by a 64% increase in ticket revenue (including postseason and spring training), to $2.4 billion (the 2021 season started with nearly all ballparks under capacity restrictions) and a 35% increase in … [Read more...] about Baseball’s Most Valuable Teams 2023: Price Tags Are Up 12% Despite Regional TV Woes

Share to Twitter Share to Linkedin Topline Goldman Sachs revealed that the company is using generative AI tools to aid its software developers in writing and testing code, just weeks after reports of major U.S. banks—including Goldman—restricting staffers’ use of ChatGPT. Key Facts The bank’s use of generative AI was only a “proof of concept,” Marco Argenti, Goldman’s chief information officer told CNBC Tuesday. The AI tool has been used by the company’s software developers to write “as much as 40%” of code in some cases, the report said. The tool does not intend to fully replace human coders, but rather make them “more productive,” Argenti said. Argenti did not disclose which generative AI tool is being used by the investment bank Key Background Last month, the Telegraph and Bloomberg reported that JPMorgan Chase had restricted the use of ChatGPT by its staff. The reports suggested that the ban wasn’t a result of any … [Read more...] about Goldman Is Reportedly Using AI To Write Code As Banks Crack Down On ChatGPT Use

Share to Twitter Share to Linkedin Topline Mortgage rates tumbled last week to their lowest level in over a month, according to data released Wednesday morning by the Mortgage Bankers Association, as waning confidence in the U.S. banking system provides a reprieve to home buyers. Key Facts The average 30-year fixed mortgage rate slipped from 6.71% to 6.48% last week, falling to its lowest level since mid-February and its largest percentage decline since November. Mortgage applications rose 3% last week, according to the survey, as buyers take advantage of rapidly declining home prices. That followed a wild stretch for the banking sector – headlined by the failures of Silicon Valley Bank and Signature Bank, the nation’s second and third-biggest such failures ever – causing investors to pack into safer assets such as government bonds. Yields for 10-year U.S. Treasury notes sank 70 basis points to 3.4% in the two-week period … [Read more...] about Housing Market: Mortgage Rates Sink To 5-Week Low Amid Bank Havoc

Share to Twitter Share to Linkedin Topline Republicans decrying Manhattan District Attorney Alvin Bragg’s investigation into former President Donald Trump as a politically motivated stunt have sought to exploit the Democratic prosecutor’s links to billionaire George Soros, who for years has been the subject of conspiracies that tie his philanthropic ventures to issues demonized by the right. Key Facts GOP lawmakers, including Florida Gov. Ron DeSantis, Rep. Elise Stefanik (R-N.Y.) and Sen. J.D. Vance (R-Ohio), are among the Republicans who have claimed that Bragg took millions of dollars from Soros, while criticizing Bragg’s investigation into hush-money payments made on Trump’s behalf during the 2016 presidential election. Trump has also mentioned Soros in criticizing Bragg’s investigation, calling him “a highly controversial, George Soros backed District Attorney” and claiming he “received in EXCESS OF ONE MILLION DOLLARS” from Soros in a series … [Read more...] about GOP Leans Into George Soros Conspiracies In Targeting Manhattan DA Alvin Bragg

Share to Twitter Share to Linkedin Topline The Manhattan district attorney is reportedly toying with what experts have called an untested legal theory in potentially bringing charges against former President Donald Trump—adding to the unprecedented nature of a case that could mark the first-ever indictment of a former president. Key Facts The primary charge prosecutors are considering is whether Trump falsified business records when the Trump Organization reimbursed his former lawyer and fixer Michael Cohen for payments made to adult film star Stormy Daniels during his 2016 campaign for the presidency in exchange for her silence about her alleged 2006 affair with Trump, according to multiple reports . Prosecutors must prove that Trump orchestrated the payments, but legal experts have said his lawyers could argue that Cohen made the deal on Trump’s behalf and without his knowledge (though Cohen has explicitly, and repeatedly, said he did so … [Read more...] about Breaking Down The Case Against Trump: New York Prosecutors Must Prove Complex Legal Theory—And It Could Be Risky

Share to Twitter Share to Linkedin Not only is Pink Floyd's 1973 progressive rock album, The Dark Side of the Moon , iconic, but so is its simple yet striking cover art: a triangular prism set against a black background with a ray of light refracting through it. Though the band's name and the record's title do not appear on the front cover, the design is universally recognizable and synonymous with Pink Floyd—so much so that it has since appeared on apparel, posters, mugs, magnets, beach towels, patches, buttons, a British postage stamp , and even the sides of vehicles . In essence, The Dark Side of the Moon design has become the band's unofficial visual trademark. The distinctive cover art was conceived by the British graphic design company Hipgnosis , founded in the late 1960s by Storm Thorgerson and Aubrey Powell, which has long worked on Pink Floyd albums. In the five decades since the release of The Dark Side of the Moon ( which is marking … [Read more...] about Pink Floyd Graphic Designer On ‘The Dark Side Of The Moon’ Cover Turning 50

Share to Twitter Share to Linkedin When you unshackle 1.4 billion consumers who have been penned up at home for three years, it’s reasonable to expect some fireworks. For the residents of Mainland China, life under “zero COVID” policies was a dreary round of rolling travel restrictions and lockdowns – as if the United States was permanently stuck on a skipping record of the Spring of 2020. While most of the population was able to find a way to get back to work eventually, the everyday routines of travel, dining out, and visiting friends and family were severely curtailed. Wallets stayed snapped shut. Since China executed its “COVID pivot” in late December 2022, economists have been scrutinizing the data to see if the country will be able to achieve its goal of 5% growth in 2023. If achieved, China will serve as an engine to help developed economies avoid tipping into recession. This is particularly relevant in the new era of higher interest rates, … [Read more...] about Why China’s COVID Comeback Is Still In The Early Innings, With Upside Ahead

Share to Twitter Share to Linkedin Walgreens Boots Alliance (NASDAQ: WBA) is scheduled to report its fiscal Q2 2023 results on Tuesday, March 28. We expect the company to post revenue and earnings slightly below the street expectations, partly due to fewer Covid-19 vaccine administrations vs. the prior year quarter. That said, the company expects strong growth for its international business in Q2. Although we expect the company to post a downbeat Q2, we believe its stock has more room for growth, as discussed below. Our interactive dashboard analysis on Walgreens Earnings Preview has additional details (1) Revenues expected to be below the consensus estimates Trefis estimates Walgreens’ Q2 2023 revenues to be around $33.2 billion, slightly below the $33.4 billion consensus estimate. This compares with the $33.8 billion revenue the company garnered in the prior-year quarter. The company should benefit from growth in the international … [Read more...] about What To Expect From Walgreens’ Q2?