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Nvidia becomes world’s most valuable company amid AI boom 2024-06-18 21:26:00+00:00 - Nvidia became the world’s most valuable company on Tuesday, overtaking tech heavyweight Microsoft, as its chips continue to play a central role in a race to dominate the market for artificial intelligence. Shares of the chipmaker climbed 3.5% to $135.58, lifting its market capitalization to $3.34tn, just days after overtaking the iPhone maker Apple to become the second most valuable company. Nvidia’s rise has taken it from a company best known for producing video game chips into a global powerhouse. Its profits have surged amid the tech industry’s immense shift towards artificial intelligence, which has left major companies seeking out Nvidia’s products to serve as a backbone of this technology. The company’s growth has outpaced other household names in the tech industry including Google and Apple, and has fueled a wave of investment and market speculation. Nvidia’s latest climb boosted Wall Street to a fresh record high. The S&P 500 rose 0.3% to finish Tuesday at 5,487.03. The stock has surged about 180% so far this year, compared with a rise of about 19% in Microsoft shares, with demand for its top-of-the-line processors outpacing supply. Tech giants Microsoft, Meta Platforms and Google-owner Alphabet are racing to build out their AI computing capabilities and dominate the emerging technology. The surge in shares pushed the stock to a record high, adding more than $103bn to Nvidia’s market capitalization on Tuesday. Increasing the appeal for its highly valued stock among individual investors, Nvidia recently split its stock 10-for-one, effective 7 June. “A stock split can reduce the price per share, making it more affordable for individual investors to buy. With Nvidia doing a 10:1 stock split, retail investors are the real winners here,” said Sam North, market analyst at investment platform eToro. Nvidia’s chips power many of the AI industry’s marquee tools, including OpenAI’s ChatGPT chatbot. The company’s rising stock price and increased prominence within the industry have made its earnings reports and announcements into destination events for Silicon Valley investors. Increased demand for its chips have also made the price per unit rise to about $30,000 and seen the company’s revenue surge. skip past newsletter promotion Sign up to Business Today Free daily newsletter Get set for the working day – we'll point you to all the business news and analysis you need every morning Enter your email address Sign up Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Newsletters may contain info about charities, online ads, and content funded by outside parties. For more information see our Privacy Policy . We use Google reCaptcha to protect our website and the Google Privacy Policy and Terms of Service apply. after newsletter promotion As Nvidia’s power within tech has grown, it has also vaulted 61-year-old CEO Jensen Huang into the same rarified position as other industry titans and made him one of the world’s richest men. Over the past year-and-a-half, his net worth has increased a staggering $93bn, making him worth more than $100bn in total. The company’s market value expanded from $1tn to $2tn in just nine months in February, while taking just over three months to hit $3tn in June. Reuters contributed reporting

'Bridgerton' introduced Lady Danbury's brother, but he's not in the books — here's what to know about Lord Marcus Anderson and his future on the show 2024-06-18 21:20:17+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Access your favorite topics in a personalized feed while you're on the go. download the app Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Warning: There are major spoilers ahead for season three of "Bridgerton." Season three of "Bridgerton" delivers plenty of romance — not just for Colin Bridgerton and Penelope Featherington, but also for other members of the ton. Season three premiered on Netflix in May and concluded on Thursday. Among the returning faces were a handful of new characters, including Lord Marcus Anderson (Daniel Francis), the brother of Lady Agatha Danbury (Adjoa Andoh). This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Here's everything to know about Lord Anderson and his blossoming romance with another "Bridgerton" character, which seems likely to continue into season four. Advertisement Lord Marcus Anderson doesn't exist in Julia Quinn's 'Bridgerton' novels Daniel Francis as Lord Anderson, Adjoa Andoh as Lady Danbury, and Ruth Gemmell as Lady Violet Bridgerton in season three, episode four of "Bridgerton." Liam Daniel/Netflix In Quinn's romance novels, Lady Danbury doesn't have a brother. Like newcomer Lord Debling (Sam Phillips), Lord Anderson is an original character created specifically for the TV series. When filming for season three began in 2022, Lord Anderson was described as "a charismatic presence who lights up any room he enters, attracting the notice of certain matriarchs in the town — and the ire of others." Some fans suspected that he'd be a potential suitor for Penelope, but when promotional materials for season three were released, it became clear that his storyline would be intertwined with Lady Danbury and Lady Violet Bridgerton (Ruth Gemmell). In one teaser, Lord Anderson and Lady Bridgerton were seen exchanging glances — with the matriarch biting her lip — as Lady Danbury observed with dissatisfaction. Advertisement Fans who watched the "Bridgerton" spinoff series "Queen Charlotte" will recall Violet telling Lady Danbury that she was considering opening herself up to romance again. So, it made sense that Violet's season three storyline would involve the possibility of love. Lord Anderson and Lady Violet Bridgerton have a slow-burn flirtation in 'Bridgerton' season 3 Daniel Francis as Lord Marcus Anderson and Ruth Gemmell as Lady Violet Bridgerton on season three of "Bridgerton." Netflix Marcus and Violet first meet outside the Hawkins' Innovations Ball of 1815 during episode three, as he helps her pick her glove off the ground. Marcus approaches her later that night at the ball and Lady Danbury interrupts to reveal that he's her brother who's just visiting town. Even though Violet and Lady Danbury have been friends for years, Violet isn't aware that she has a brother. Related stories Marcus isn't seen again until episode four, when he dines with Lady Danbury. When asked why he returned to London, Marcus says that his lack of company — and ladies — at his country estate brought him back to town. Marcus and Violet talk at another ball, where he tells her that he hasn't been to Mayfair since the early days of marriage. When Marcus asks how she passes time in the city, Violet says that she and Lady Danbury enjoy meddling in the lives of the young people. She adds that Lady Danbury "molds society to her will." This is surprising to Marcus, who says that they're becoming "reacquainted," hinting at some tension between him and his sister. Advertisement Adjoa Andoh as Lady Agatha Danbury and Daniel Francis as Lord Marcus Anderson on season three of "Bridgerton." Netflix As Marcus and Violet observe Francesca Bridgerton (Hannah Dodd) on the dance floor, they talk about their past relationships. Marcus says that his marriage wasn't a love match or even passionate at the onset, but he became fond of her and they were happy until her death. Violet then mentions that she had a love match with her late husband, Edmund Bridgerton. In response, Marcus says he's envious, but hopeful of finding a love match in his "second act." Lady Danbury leaves the party early but is stopped by Marcus, who asks her to put her molding skills to use in his quest for love. Lady Danbury dismisses him, saying that she's not interested in aiding his raking. But he claims he has pure intentions. Season 3 ends on a promising note for Marcus and Violet Daniel Francis as Lord Anderson, Adjoa Andoh as Lady Danbury, and Ruth Gemmell as Lady Violet Bridgerton in season three, episode four of "Bridgerton." Liam Daniel/Netflix During season three, part two, Marcus pursues Violet as Lady Danbury tries to intervene and set him up with other eligible women in the ton. Lady Danbury's hostility toward her brother isn't explained until episode six, when it's revealed that he prevented her from escaping town and took away her chance at freedom the night before her wedding to Lord Danbury. Advertisement Lady Danbury and Marcus hash out their childhood grievance during episode seven, with Marcus explaining that he snitched on her to their father because he thought he was protecting her from the dangers of the outside world. He said that he was always in awe of Lady Danbury's courage but was also afraid of her — hence why he never told her any of this before. Lady Danbury, in response, explains that her life has been so full of joy lately, and she was concerned that he'd take it away from her. In the season three finale, Violet asks for Lady Danbury's blessing to see where her feelings for Marcus take her. Lady Danbury tells her that they're adults who are free to do as they please, but if the relationship sours, she's taking Violet's side over her brother's. Violet and Marcus are then seen having their first dance together at the Dankworth-Finch ball as Lady Danbury smiles at them in support. Advertisement With a fourth season already in the works, showrunner Jess Brownell teased that fans haven't seen the last of Violet and Marcus' blossoming romance. "I love that relationship," she told Entertainment Weekly. "I love what a slow burn it is. For Violet, who hasn't dipped her toes in the dating pool for so long, she needs a very slow burn." Season three of "Bridgerton" is streaming on Netflix.

The US Air Force's next-gen stealth fighter faces an uncertain future amid modernization cost woes 2024-06-18 21:20:01+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. America's next stealth fighter, slated to replace the F-22 Raptor by the close of this decade, may no longer be a sure thing as Air Force officials struggle to balance the ledger amid a long list of high-profile modernization programs. This new fighter, being developed within the Next Generation Air Dominance (NGAD) program, has long been touted as the centerpiece of a new "family of systems" meant to fly alongside a constellation of AI-enabled drone wingmen. Yet recent remarks from Air Force officials suggest those wingmen have a more certain place within America's future airpower apparatus than the NGAD fighter itself. When asked directly about the future of the NGAD program, which was supposed to have a contract announced this year, Air Force Chief of Staff Gen. David Allvin made it clear that the 6th generation fighter's future may be far from certain. "The deliberations are still underway, there's been no decision made. We're looking at a lot of very difficult options that we have to consider," Allvin told reporters last week. Advertisement In what could mark an even more dramatic shift away from the status quo, Air Force officials have also hinted at a potential return to a fighter development model proposed by Air Force Acquisition Chief Will Roper back in 2019, in which smaller batches of fighters would be designed to operate with shorter lifespans, allowing for rapid design and technology changes as the threat landscape evolves. This concept was dubbed the " digital century series " approach at the time, thanks to its emphasis on modern all-digital aircraft design and its similarities to the rapidly changing fighter designs of the 1950s and '60s — ranging from the North American F-100 Super Sabre to the Convair F-106 Delta Dart. Most modern fighter designs, like Lockheed Martin's F-35, for example, are meant to fly for a half-century or more, with long service lives seen as justification for their massive developmental budgets. Nevertheless, the F-35's model comes with at least two significant drawbacks. Two F-35B Lightning II aircraft from the F-35 Integrated Test Force (ITF) successfully landed onboard HMS Queen Elizabeth, marking the beginning of the second phase of Development Testing (DT-2) of first-of-class flying trials (FOCFT). RELEASED / U.S. Navy Photograph by Liz Wolter The first is technological, as purchasing a new fighter today that can remain dominant into the 2070s is all but impossible without adapting to or adopting a variety of new technologies along the way. Being married to a single air superiority fighter design until what could conceivably fly until the close of this century, the Air Force may not be able to rapidly adjust to counter new threats as they emerge. "We cannot pursue a lot of eggs in one basket and then find that the threat has advanced," Allvin explained. Advertisement The second drawback is economic, with lifespan sustainment representing a huge portion of a fighter program's overall cost. To use the F-35 as an example again, its overall program cost is now estimated to exceed $2 trillion over the jet's lifetime, but some $1.6 trillion of that — a whopping 80% of the total cost — comes from maintenance and sustainment over its decadeslong lifespan. Roper's Digital Century Series model aimed to curtail these costs by instead leaning into agile software development, digital engineering, and open-system modular architecture to allow the Air Force and its prime contractors to rapidly develop and field new fighter designs with enough regularity to limit the lifespan of each to just a decade or two. This would allow the Air Force to continuously field the most advanced airpower assets on the planet while also eliminating the most expensive (later) years of the sustainment cycle. "'Built to last' is a tremendous 20th-century bumper sticker, and the assumption then was, whatever you had was relevant as long as it lasts," Allvin said. "I'm not sure that's true anymore." Related stories There are indeed several good reasons to transition to a model that could produce a new fighter design every decade or two. Not only would such a model mean cutting out the most expensive decades of a fighter's lifespan, but it would also allow for the rapid adoption of emerging technologies in the steady flow of new fighters maturing toward service. That steady flow of new designs could be a boon unto itself, as it could potentially make fighter designs a truly competitive industry once again. Advertisement Today, there are really only three American firms left in the fighter business, all of whom trade largely on other types of military and commercial technologies across their portfolio, as fighter contracts have been few and far between in the modern era. With Lockheed Martin's Skunk Works winning both 1991's Advanced Tactical Fighter competition and 2001's Joint Strike Fighter Competition, it's been 49 years since any company other than Lockheed Martin has won the right to field a new clean-sheet fighter. The Lockheed Martin logo is displayed near a company-made drone during an exhibit. Isaac Brekken/Getty Images But the Digital Century Series model would see new fighter designs being fielded every five to 10 years, which would mean the development cycle for the next new fighter would likely begin almost immediately after a contract is awarded for the current one. This could create the necessary incentive for a wider variety of firms to compete in the fighter design space, and that competition could be made even greater by separating design and production contracts into separate awards. This could allow newer or smaller firms that lack the production infrastructure required to mass produce new stealth fighters to compete in the design space, with production contracts potentially still awarded to long-standing primes like Lockheed Martin, Boeing, or Northrop Grumman. But, there are also some glaring issues with the Air Force potentially reverting to Roper's concept for fighter production this late in the game for NGAD, which has been in active development since 2014. "We've already built and flown a full-scale flight demonstrator in the real world, and we broke records in doing it," Roper told Defense News at the Air Force Association's Air, Space and Cyber Conference in 2020. "We are ready to go and build the next-generation aircraft in a way that has never happened before." Advertisement These aircraft designs, as well as the more powerful and efficient engines being developed to power them, have continued to mature since, with Northrop Grumman bowing out of the competition in early 2024 and Lockheed Martin and Boeing seemingly competing for the contract award. This could spell a significant cost problem: With this effort maturing for about a decade now, transitioning away from a traditional fighter acquisition model at this stage would force a revision of the designs in testing to embrace lower costs and shorter operational lifespans — which is why Air Force Secretary Frank Kendall described such a change as "far too expensive" in 2022 when the concept of the Digital Century Series lost favor. Air Force Secretary Frank Kendall. Tom Williams/Getty Images The Air Force now appears to be coming around to Roper's way of thinking but now must weigh the costs of changing the requirements of a program that's already seen well over a billion dollars and several years' worth of investment. The stakes of these deliberations are already high, but they're made even higher because of the tight timetable created by what some might call short-sighted decision-making around the branch's last air superiority fighter program, the F-22 Raptor. Despite first taking flight in 1997, the F-22 Raptor is still broadly considered to be the most capable air superiority fighter on the planet thanks to an awe-inspiring combination of stealth, sensor fusion, and good old-fashioned power. But, because the F-22 entered service after the collapse of the Soviet Union and well before Xi Jinping's rise to power, its production run was cut short after just 186 airframes were produced, only around 150 of which were combat coded (or equipped with all the necessary systems for combat). With much of its production infrastructure then cannibalized by the F-35 program, it became all but impossible to produce more Raptors. With each F-22 airframe rated for around 6,000 flight hours, these aircraft can undergo expensive service-life extension programs, but eventually, they will simply wear out. And without a new air superiority fighter in production to replace them, the US runs the risk of leaving the air superiority mission gapped for some time as the new Digital Century Series fighters take shape. Advertisement USAF However, Allvin's comments may have come with something of an ulterior motive. With competition for the NGAD contract underway and the Air Force clearly recognizing how the future of fighter acquisitions may be in flux, these statements may be a means of placing public pressure on Lockheed and Boeing to revise their proposals, particularly in terms of cost. In other words, the Air Force may intend to transition toward the Digital Century Series acquisition model moving forward but may be using the public groundwork for that transition to create negotiating leverage with Lockheed Martin and Boeing today. It's also possible that the Air Force has made these announcements to sound the alarm among the lawmaker class, which could potentially bolster the branch's buying power in the 2026 National Defense Authorization Act to ensure NGAD continues unfettered despite the Air Force's pressing need to also fund the production of new B-21 Raider stealth bombers and the already well-over-budget Sentinel ICBM meant to replace America's aging Minuteman III missiles. Whether or not either of the above two possibilities is the case won't likely be clear until well after the NGAD contract — in whatever form it may ultimately manifest — has been awarded. But while the future of the NGAD fighter itself may now be in question, the AI-enabled drones meant to fly alongside it, being developed within the Collaborative Combat Aircraft (CCA) program, seem to be progressing at full steam ahead, with Allvin pointing to similar 10-year acquisition timelines for new CCA drones as well. Advertisement This would similarly allow the branch to rapidly field new technologies and capabilities as they emerge while keeping costs relatively low for each iteration of these drones — with modular systems shared across platforms to keep prices down. These drones are already expected to fly alongside the forthcoming Block 4 F-35 and could certainly end up accompanying other modernized-but-older jets like the F-22 and F-15EX a bit further down the road. The question, however, will soon become whether it makes more sense to extend the lifespan of the F-22 long enough to compensate for delays in fielding its replacement or fielding a new high-end fighter that might not have what it takes to remain competitive into the 2070s. Regardless of which path the Air Force ultimately chooses, that choice will only get pricier the longer the branch waits to decide. READ MORE FROM SANDBOXX NEWS

Here's How Biden's New Policy Will Keep 500,000 Migrants in the US 2024-06-18 21:18:59+00:00 - Joe Biden announced his policy shielding 500,000 immigrants from deportation on the 12th anniversary of the DACA program. The protection is for migrants who are married to US citizens. This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Amazon hit with $5.9 million fine for violating California labor law 2024-06-18 21:16:00+00:00 - California's labor regulator on Tuesday said it fined Amazon nearly $6 million for violating a state law aimed at curtailing the use of onerous warehouse productivity quotas. The California Labor Commissioner's Office said it investigated two Amazon facilities in Moreno Valley and Redlands, both located east of Los Angeles, and found 59,017 violations of the state's Warehouse Quotas law, officials said. Productivity quotas have become a common source of consternation among Amazon workers. The Warehouse Quotas law went into effect in 2022 and requires employers to disclose productivity quotas to employees and government agencies, as well as any discipline workers may face for not meeting them. The law also prohibits employers from requiring warehouse employees to meet unsafe quotas preventing them from taking state-mandated meal and rest breaks or using the bathroom. Amazon "failed to provide written notice of quotas," the Labor Commissioner's office said Tuesday. The company argued it doesn't need quotas because it uses a "peer-to-peer evaluation system," officials said. "The peer-to-peer system that Amazon was using in these two warehouses is exactly the kind of system that the Warehouse Quotas law was put in place to prevent," Labor Commissioner Lilia Garcia-Brower said in a statement. Amazon has in recent years faced scrutiny over how it treats its warehouse and delivery employees. Regulators and critics have specifically zeroed in on the pace of work, arguing that the speed requirements put workers at greater risk of injury. Washington safety regulators in 2022 fined Amazon for "willfully" violating workplace safety laws by requiring employees to work at such a fast pace that it put them at higher risk of musculoskeletal disorders or problems such as sprains and strains often caused by repetitive tasks. The Labor Department's Occupational Safety and Health Administration has also cited Amazon numerous times for safety violations. Amazon has said it would appeal all the citations. States including New York, Washington and Minnesota have passed similar regulations, and a federal bill was introduced last month by Sen. Ed Markey, D-Mass. Amazon, the second-largest private employer in the U.S., has previously said it doesn't use fixed quotas. Rather, the company said, it relies on "performance expectations" that factor in multiple indicators, such as how certain teams at a site are performing. It's also disputed allegations that employees don't get enough breaks. Amazon has also defended its safety record. The company said in March that its injury rates have improved, and it announced plans to invest more than $750 million in safety initiatives this year. Maureen Lynch Vogel, an Amazon spokesperson, said the company disagrees with the allegations and has filed an appeal. "The truth is, we don't have fixed quotas," she wrote in an email. "At Amazon, individual performance is evaluated over a long period of time, in relation to how the entire site's team is performing. Employees can – and are encouraged to – review their performance whenever they wish. They can always talk to a manager if they're having trouble finding the information." WATCH: Amazon's worker safety hazards come under fire from regulators and the DOJ

Federal Trade Commission refers complaint about TikTok’s adherence to child privacy law to the DOJ 2024-06-18 21:13:53+00:00 - The Federal Trade Commission has referred a complaint against TikTok and its parent company, ByteDance, to the Department of Justice. The FTC said in a statement Tuesday that it investigated the two companies and “uncovered reason to believe” they are “violating or are about to violate” the Children’s Online Privacy Protection Act, a federal law which requires kid-oriented apps and websites to get parental consent before collecting personal information of children under 13. The agency also cited potential violations of the FTC Act, the law that outlines its enforcement responsibilities. A person familiar with the matter told The Associated Press in March that the agency was looking into whether TikTok violated a prohibition against “unfair and deceptive” business practices by denying that individuals in China had access to U.S. user data. TikTok spokesperson Alex Haurek said the company has been working with the FTC for more than a year to address its concerns and was “disappointed the agency is pursuing litigation instead of continuing to work with us on a reasonable solution.” “We strongly disagree with the FTC’s allegations, many of which relate to past events and practices that are factually inaccurate or have been addressed,” Haurek said in a statement. The FTC said its investigation began in connection with a compliance review of a 2019 settlement between the agency and Musical.y, the TikTok predecessor that was acquired by ByteDance in 2017. Under the settlement, Musical.y agreed to pay $5.7 million to resolve allegations that the company violated the children’s privacy law. The agency said that while it does not typically publicize complaints that are referred to the DOJ, it determined doing so this time was “in the public interest.” Citing national security concerns, U.S. lawmakers passed a law in April that requires TikTok to be sold to an approved buyer or face a nationwide ban. TikTok and Beijing-based ByteDance have sued to overturn the law, which President Joe Biden signed.

Katy Perry's comeback single is already being criticized — and it's not even out yet 2024-06-18 21:08:57+00:00 - Katy Perry announced her new single, "Woman's World," will be released on July 11. Perry also shared a short snippet of the song on TikTok, teasing a female empowerment theme. The production and lyrics have already been criticized as "dated" and "cliché" on social media. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Advertisement Katy Perry's new song won't be released until next month, but the pop star's much-hyped comeback may already be in jeopardy. On Monday, Perry unveiled the cover art and title for her forthcoming single, "Woman's World," out July 11, which will serve as the lead single for Perry's seventh album. "Get ready to pop off," Perry wrote. The as-yet-unnamed album will be Perry's first full-length release since 2020's "Smile," which drew an underwhelming response from critics and fans alike. (Business Insider's music team gave the album a score of 4.6 out of 10.)

AI skills can help you land a job or promotion faster—especially for Gen Z, says new research 2024-06-18 21:06:00+00:00 - Artificial intelligence might replace some jobs but it can also give you a competitive edge in the workplace. Nearly all executives — 96% — feel an urgency to incorporate AI into their business operations, according to a March 2024 Slack Workforce Lab survey of more than 10,000 professionals. But if you feel conflicted about this new technology, you're not alone. Researchers can't seem to agree on if, and how, workers are using AI: Some reports claim that professionals are excited about and experimenting with AI, while others say most adults have not tried using AI tools on the job or do not trust them. Regardless of where you stand on AI, people who don't learn to use it risk losing career opportunities to those who do, new research from Microsoft and LinkedIn found. AI skills could rival job experience in hiring decisions — and not just in tech Close to 70% of leaders say they won't hire someone without AI skills and would rather hire a less experienced candidate with AI skills than a more experienced person without them, according to the report, which surveyed more than 30,000 people in 31 countries. "Learning basic AI skills — such as prompt engineering, machine learning or data literacy — is the best insurance to shortcut your competitiveness against people who might have more experience," Aneesh Raman, a vice president and workforce expert at LinkedIn, tells CNBC Make It. Some companies including Google and Amazon have announced investments in teaching their workforce AI skills, but such initiatives aren't the norm: Only 25% of companies are planning to offer training on generative AI tools like ChatGPT and Microsoft Copilot, Microsoft and LinkedIn found. There are dozens of free online courses people can use to learn AI skills offered by companies like IBM and Google and Ivy League institutions like Harvard University and the University of Pennsylvania. The hype around AI is far from peaking — it's just starting to build, according to Colette Stallbaumer, general manager of Microsoft Copilot and co-founder of Microsoft WorkLab. Of course, Microsoft is betting big on AI. In May, the tech giant announced it will invest $3.3 billion over the next four years to build new cloud and AI infrastructure. "Less than two years after generative AI burst onto the scene, we're seeing this technology being woven into the fabric of work across a wide range of industries," Stallbaumer says. "This is happening at a pivotal time where the pressure, volume and pace of work from the Covid-19 pandemic has hardly let up. Employees are overwhelmed and turning to AI for help." Generative AI tools in particular have seen a surge in workplace adoption, with usage doubling in the last six months, Microsoft and LinkedIn report. It's not just programmers and engineers experimenting with these tools: Architects, project managers and administrative assistants are among the professionals looking to build their AI aptitude the most. Non-tech industries including health care, finance and marketing are adopting AI technologies at a rapid clip to streamline business operations and boost productivity, Stallbaumer adds, creating high demand and new job opportunities for professionals skilled in these tools. Gen Zers could use AI to accelerate their careers

Freedom Caucus chairman locked in tight primary versus Trump-backed challenger 2024-06-18 21:02:00+00:00 - GOP Rep. Bob Good, the chairman of the House Freedom Caucus, was locked in a close primary fight Tuesday night against a challenger backed by powerful Republicans including former President Donald Trump and former Speaker Kevin McCarthy. Just a few hundred votes separated state Sen. John McGuire in the lead and Good close behind him in Virginia’s deep-red 5th District as of late Tuesday night. If the margin stays within 1 percentage point, the losing candidate can request a recount within 10 days after the election results are certified, according to Virginia state law. Good is at risk of becoming the first sitting lawmaker to lose to a primary challenger this year. In a post on X on Wednesday, Good said that the race "remains too close to call" but — with provisional and mail-in ballots still being counted — his campaign still believes there is a path to victory. He appeared to allude to the possibility of a recount and said the process could take “weeks” to declare a winner. “We are in a period where the law provides a process for evaluating the accuracy of all the vote totals from election day to ensure everyone can have full confidence in the certified results,” Good said on X. “We believe we can still prevail.” Good drew McCarthy’s ire as is one of eight Republicans who voted to oust him last year. McGuire vastly outspent Good on the airwaves and outside groups aligned with McCarthy also outspent the Virginia congressman’s allies, according to the ad tracking firm AdImpact. “This is the Kevin McCarthy revenge tour,” Good told NBC News on Friday at an event in Goochland, Va. “He has devoted his life apparently to trying to exact some revenge on those he holds responsible for him not being Speaker, except himself,” Good later added. “But the people of the 5th District are not going to be bought.” McGuire also had the most coveted endorsement in GOP primaries: Trump. McGuire thanked Trump Tuesday night as he declared victory, despite the race remaining very close. “This is a time where we need to come together because we still have a lot of work to do. I’m your Republican nominee but I’m not going to take it lightly,” Good said at his election night party, according to a livestream of his election night speech from ABC13. McGuire said Trump is “a huge part of our win and I will not forget that.” The challenger couched things a little more in a statement from his campaign: "There are still a few votes left to count, but it’s clear that all paths end with a victory." The former president endorsed McGuire three weeks before Tuesday’s primary, making a veiled reference to Good backing Florida Gov. Ron DeSantis in the presidential primary. Good’s subsequent endorsement of Trump wasn’t enough to put him in the former president’s good graces. After backing McGuire, Trump appeared in a TV ad and held a tele-rally for McGuire on Monday night, telling supporters, “John is running against Bob Good, who is not good. Despite his name, he’s very bad for Virginia.” McGuire, a former Navy SEAL whose campaign slogan was, “We can do better than Good,” told NBC News at a community concert in Powhatan on Friday that Trump’s endorsement was helpful in the race. “I’ve had many people say ‘I don’t know anything about you, never met you before, but if Trump’s endorsing you, I’ve got you,’” McGuire said. “I believe with all that Trump has been through he has earned the right to call the shots and pick his team.” But Good is no stranger to running against a Trump-backed candidate. In 2020, Good defeated then-Rep. Denver Riggleman at a party convention, conducted via a drive-through amid the coronavirus pandemic. Oklahoma GOP Rep. Tom Cole was also on defense Tuesday but saw off his chief primary opponent, businessman Paul Bondar, who spent millions of dollars of his own money on the race. Cole, who chairs the powerful House Appropriations Committee, got a boost from Trump in the race and recently told NBC News that Trump’s endorsement was “enormously helpful” as he faced the most competitive and expensive primary since he was first elected in 2002. Bondar loaned his campaign $5.1 million of his own money, launching ads that accused Cole of losing touch with the 4th District and spending too much time in the nation’s capital. Bondar also said Cole was not sufficiently conservative, pointing to Cole’s support for government spending and aid to Ukraine. Cole and his allies blanketed the airwaves with ads accusing Bondar of actually being a Texan. Bondar does own property in Oklahoma, outside of the 4th District, but he did vote in Texas’ primaries in March. Elsewhere in Virginia on Tuesday, Republican voters chose Navy veteran Hung Cao to take on Democratic Sen. Tim Kaine in November, NBC News projects. Cao, who had Trump’s endorsement in the race, led the Republican field in fundraising and defeated two other GOP contenders. Cao ran unsuccessfully for Congress in 2022, losing to Democratic Rep. Jennifer Wexton by nearly 7 points. He is in for a tough race against Kaine, who is running for a third term in a state that has sent Democrats to the Senate in recent years. Biden won the state by 10 points in 2020 and Kaine won a second term in 2018 by 17 points. In the House, Democrats are also picking a candidate to take on Republican Rep. Jen Kiggans in the 2nd District, and both parties are picking their nominees in the open 7th and 10th Districts. Retired Army Col. Yevgeny “Eugene” Vindman is projected to win the Democratic nomination in the 7th District, giving Democrats a high-profile candidate with military experience and strong fundraising chops, He hopes to hold the seat for Democrats in the fall despite the decision by Democratic Rep. Abigail Spanberger, another strong fundraiser with a national security background, to run for governor. Vindman gained national notoriety during Trump’s first impeachment trial, when he and his brother raised concerns, from their perch on the National Security Council, about Trump’s phone conversation with the Ukrainian president in 2019. Despite being a first-time candidate, he was far-and-away the best fundraiser in the race, and got a boost from outside groups on the airwaves as he ran against more experienced local politicians. He’ll face off against Derrick Anderson, a former Green Beret, who bested former Navy SEAL Cameron Hamilton in a clash between the establishment and insurgent wings of the party. Anderson was backed by a super PAC tied to McCarthy and Republican megadonors, as well as House Speaker Mike Johnson. In the 10th District, state Sen. Suhas Subramanyam is projected to win the crowded and expensive Democratic primary in Virginia’s 10th District, where Democratic Rep. Jennifer Wexton is not seeking re-election after being diagnosed with a rare and serious condition called progressive supranuclear palsy. Subramanyam won Wexton’s endorsement, which helped him separate himself from a crowded field of well-funded Democrats that included state Del. Dan Helmer, former state Assembly Speaker Eileen Filler-Corn and former Defense Department official Krystle Kaul. He’ll be in the driver’s seat to hold the district for Democrats in the fall, as Democrats have performed well recently in this suburban-Washington D.C. district, and will face off against Republican businessman and lawyer Mike Clancy. Kiggans will face Democrat Missy Cotter Smasal, a military veteran who had been backed by Virginia’s every Democratic House member from Virginia. This is a swing district that’s likely to be competitive in the fall, but Kiggans has a significant fundraising edge and defeated a Democratic incumbent there to win the seat in 2022. Georgia also held its primary runoffs in races where no candidate won a majority of the primary vote back in March. In the Democratic-leaning 2nd District, activist Chuck Hand, who pleaded guilty to a misdemeanor offense in connection with the attack on Jan. 6, 2021, lost a runoff for the Republican nomination. And Trump’s former White House political director, Brian Jack, is projected to win his GOP primary runoff against state Sen. Mike Dugan. The Republican will be the heavy favorite to win in November to replace retiring GOP Rep. Drew Ferguson.

US pauses avocado and mango inspections in Mexico after attack 2024-06-18 21:00:00+00:00 - An attack on two employees of the US agricultural department prompted a temporary suspension of safety inspections on avocados and mangoes in Mexico, potentially disrupting a $2.4bn industry between the two countries. Ambassador Ken Salazar said in a statement that the two officials were assaulted and temporarily held by assailants while they were inspecting avocados in the Mexican state of Michoacán. The officials, who are employees of the US Department of Agriculture’s Animal and Plant Health Inspection Service (Aphis), were later released. “To guarantee the safety of our agricultural inspection teams, APHIS has suspended the avocado and mango inspections in Michoacán until these security problems have been resolved,” Salazar said. Because the United States also grows avocados, US inspectors work in Mexico to ensure exported avocados don’t carry diseases that could hurt US crops. Michoacán is Mexico’s biggest exporter of avocados. Michoacán governor Alfredo Ramírez Bedolla told Mexico’s Radio Fórmula that the inspectors had been stopped in a protest by residents of Aranza in western Michoacán on 14 June. He downplayed the situation, suggesting they were never at risk. He said that he got in touch with the US embassy the following day and that state forces were providing security for the state’s avocado producers and packers. “I hope we have good news in the coming hours,” he said, referring to a potential resumption of inspections. Mexico’s producers and packers association said in a statement on Tuesday that it was working closely with government officials from Mexico and the United States to resume avocado exports from Michoacán. It said the incident that spurred the suspension was “unconnected to the avocado industry”. The organization has previously warned that its members are a frequent target of violence and threats from organized crime groups seeking protection money, sometimes amounting to thousands of dollars per acre. There have also been reports of organized crime bringing avocados grown in other states not approved for export and trying to get them through US inspections. Bedolla told reporters Monday that Mexican authorities were in discussions with their US counterparts to quickly resolve the situation. In February 2022, the US government suspended inspections of Mexican avocados for about a week after a US plant-safety inspector in Michoacán received a threatening message. Later that year, Jalisco became the second Mexican state authorized to export avocados to the US. The new pause in inspections won’t immediately block shipments of Mexican avocados to the United States, because Jalisco is now an exporter and a lot of Michoacán avocados already are in transit. Salazar said he would travel to Michoacán next week to meet with Bedolla and the producers and packers association.

Republican senator blocks ban on bump stocks for guns brought by Democrats 2024-06-18 20:58:00+00:00 - WASHINGTON — Senate Democrats sought to pass legislation Tuesday banning bump stocks for firearms after the Supreme Court overruled a previous ban, but a single Republican objected on behalf of his party, effectively stalling the bill. Backed by Senate Majority Leader Chuck Schumer, Sen. Martin Heinrich, D-N.M., sought “unanimous consent” to pass his BUMP Act that would prohibit the devices, which modify semi-automatic weapons to fire bullets more quickly. The New Mexico senator said he’s a firearm owner who sees no purpose for bump stocks other than to facilitate mass shootings, as in Las Vegas in 2017, when a gunman killed dozens of people at a music festival and more than 500 people were injured. “The Las Vegas gunman was able to murder and injure so many so quickly because he used a deadly device known as a bump stock,” Heinrich said on the Senate floor. “There’s no legitimate use for a bump stock. Not for self-defense, not in a law enforcement context, not even in military applications as they’re less accurate than a standard fully automatic military platform. But what they are tailor-made for is a mass shooting.” But the bill was met with an objection from Sen. Pete Ricketts, R-Neb., blocking it from moving forward. The objection was backed by Senate Minority Leader Mitch McConnell and many other Republican senators, marking a turnaround after many of them championed a bump stock ban imposed by the Trump administration after the Las Vegas massacre. Ricketts labeled the bill “a gun-grabbing overreach," saying it is written vaguely and could give the Biden administration power to target “common firearm accessories, not just bump stocks.” “That’s really, really scary,” Ricketts said, calling the measure an infringement on the rights of law-abiding gun owners. He labeled it “another day in the Democrat summer of show votes,” following recent votes on protections for IVF and contraception which were also blocked by Republicans. The clash comes in the heat of an election year, when Republicans are running as staunch supporters of gun rights while President Joe Biden and Democrats call for stricter firearm laws. The move Tuesday followed a Supreme Court decision last week saying the executive branch may not use existing law to ban bump stocks, although the 6-3 ruling along ideological lines kept the door open for Congress to regulate the accessories with a new law. Unanimous consent is one mechanism for the Senate to pass legislation speedily, often used for non-controversial measures. Schumer can also bring the bump stock bill or other legislation up through the regular process, which takes more time and requires 60 votes to break a filibuster. That means at least 9 Republicans would have to support it if Democrats and independents stick together. Before the unanimous consent request, Schumer didn’t say whether he’d bring up the bill through regular channels if it stalled, imploring Republicans to “see the light” and not block it. “Many of them were extremely supportive of this when President Trump did it as a regulation,” Schumer said. “Donald Trump is hardly a friend to gun safety. But I’m just shocked that the Supreme Court will be even to the right of him.” Heinrich warned that if Congress doesn’t prohibit bump stocks, “street gangs and cartels and mass shooters” may be able to access these devices “and turn them against our communities.” He added: “This will not be the last time you hear about these devices on the floor of the Senate.”

FTC refers TikTok complaint to Justice Department 2024-06-18 20:46:00+00:00 - The Federal Trade Commission said Tuesday that it's referred its complaint against TikTok and Chinese parent ByteDance to the U.S. Department of Justice. The FTC began its investigation following a 2019 settlement with Musical.ly, the predecessor to TikTok, that was related to violations of the Children's Online Privacy Protection Act (COPPA). The FTC was probing to see if TikTok violated a federal law that prohibits "unfair and deceptive" business practices. The regulator said it's transferring the case to the DOJ because the investigation "uncovered reason to believe named defendants are violating or are about to violate the law." "Although the Commission does not typically make public the fact that it has referred a complaint, we have determined that doing so here is in the public interest and that a proceeding is in the public interest," the FTC said. At a Senate hearing in January, TikTok CEO Shou Zi Chew said the company employs around 40,000 people in its trust and safety operations, but added that he didn't know how many minors were users of the social media platform. A TikTok spokesperson said it's been working with the FTC on the matter for over a year and is "disappointed" the agency decided to pursue litigation. "We strongly disagree with the FTC's allegations, many of which relate to past events and practices that are factually inaccurate or have been addressed," the spokesperson said. "We're proud of and remain deeply committed to the work we've done to protect children and we will continue to update and improve our product. We offer an age-appropriate experience with stringent safeguards, proactively remove suspected underage users, and have voluntarily launched safety features such as default screentime limits, family pairing, and privacy by default for minors under 16." The company faces other challenges in the U.S. In May, TikTok sued the U.S. government after President Joe Biden signed legislation that gives ByteDance nine months to find a buyer and a three month extension if a deal is in progress. In the absence of a deal, the short-form video app could be banned. TikTok said the bill violates the First Amendment, and that divestiture is "simply not possible: not commercially, not technologically, not legally," according to a legal filing. — CNBC's Lora Kolodny contributed to this report.

California governor wants to restrict smartphone usage in schools 2024-06-18 20:45:51+00:00 - SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom announced Tuesday that he wants to restrict students’ usage of smartphones during the school day, citing the mental health risks of social media. The announcement, which was first reported by Politico, comes a day after U.S. Surgeon General Vivek Murthy called on Congress to require warning labels on social media platforms and their effects on young people. Newsom said he plans to build on a law he signed in 2019 that authorized school districts to limit or ban the use of smartphones by students while at school or under the supervision of a school employee. “As the Surgeon General affirmed, social media is harming the mental health of our youth,” the Democratic governor said in a statement. “I look forward to working with the Legislature to restrict the use of smartphones during the school day. When children and teens are in school, they should be focused on their studies — not their screens.” Newsom’s office did not provide further details on the proposal. But the California School Boards Association said any regulations over student smartphone use should be left up to school districts, not the state. “We support legislation which empowers school leaders to make policy decisions at a local level that reflect their community’s concerns and what’s necessary to support their students,” spokesperson Troy Flint said. Newsom’s announcement comes amid growing debate across the country over how to address the impacts of social media and smartphone usage, particularly on young people. Some teens have pledged to stay off social media to improve their mental health and to help them focus on schoolwork and extracurricular activities. In Florida, Republican Gov. Ron DeSantis earlier this year signed one of the most restrictive bans in the nation on children’s use of social media. The New York state Legislature passed a bill earlier this month that would allow parents to block their kids from getting social media posts suggested to them by the platform’s algorithm. In California, a proposal to fine social media platforms for addicting children has failed to become law in recent years. But a bill by state Sen. Nancy Skinner, a Democrat representing Berkeley, that would ban online platforms from providing addictive feeds to minors passed the state Senate in May and is set for a committee hearing in the Assembly next month. The Los Angeles Unified School District board voted Tuesday for the district to develop policies banning students’ use of cell phones throughout the school day, with some exceptions. Board Member Nick Melvoin, who was a teacher and visits school campuses regularly, said he’s been “struck” by how “students are glued to their cell phones, not unlike adults.” “When I talk to teachers and students and parents and principals, I also hear the same, which is that more and more time is being spent on policing student phone use,” he said at the meeting. “There’s not coherent enforcement, and they’re looking for some support from the board and from the district.” State Sen. Henry Stern, a Democrat representing part of the Los Angeles area, introduced a bill this year to expand school districts’ authority to limit students’ social media usage at schools. Stern said he’d be willing to pull his bill, which already passed the Senate, if lawmakers and Newsom can come up with a better solution. Stern said he texted Newsom to thank him after the governor’s announcement. “It’s just too hard for every teacher, every school, or every parent to have to figure this out on their own,” Stern said. “There’s some times where government just has to step in and make some bigger rules of the road.” ___ Austin is a corps member for The Associated Press/Report for America Statehouse News Initiative. Report for America is a nonprofit national service program that places journalists in local newsrooms to report on undercovered issues. Follow Austin on the social platform X: @sophieadanna

The Most Faked Seafoods in the World, Including Salmon and Lobster 2024-06-18 20:45:41+00:00 - Seafood is one of the most commonly fraudulent foods we come in contact with, according to the ocean-conservation nonprofit Oceana. Your red snapper could actually be a tilapia fillet. That wild-caught salmon? It could be farm-raised. Crab, lobster, and scallops have also been victims of fraudulent swaps — and some of the substitutions could be harmful to human health. But there are also entire criminal rings smuggling seafood across the world. They often fish illegally and have been involved in human trafficking. Why is it so hard to catch bad actors in seafood supply chains? And how can we make sure we're getting the seafood that's on the label? This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. Have an account? Log in .

Jim Jordan's war on disinformation experts is working as planned 2024-06-18 20:44:37+00:00 - Happy Tuesday! Here’s your Tuesday Tech Drop, the week’s top stories at the intersection of politics and the wide world of technology, which includes everything from digital news to music and video games. Disinfo dangers on the rise? The conservative movement’s war on efforts to protect Americans from disinformation campaigns by intimidating experts who specialize in identifying disinformation appears to be working. Led at the congressional level by Republican Rep. Jim Jordan, right-wingers opposed to anti-disinformation efforts have seen a streak of success in recent weeks. At the start of this month, Sen. Mark Warner, D-Va., said the United States is less prepared to fight election interference today than it was four years ago, in part because of U.S. lawmakers’ willingness to traffic in disinformation themselves. And last week, Stanford University announced it’s shuttering the Stanford Internet Observatory, which had come under fire from right-wingers, including Jordan, for its reports on misinformation. Elsewhere, media watchdog Media Matters laid off several members of its staff in late May, a move linked in part to defending itself against a defamation lawsuit filed by billionaire Elon Musk, who owns X (the outlet has called the suit "frivolous" and said that it stands behind its reporting). Read more at Platformer. 'Cheapfakes' galore Writer Brian Beutler offers an obvious but necessary explanation for Republicans’ use of dubiously edited videos, sometimes known as “cheapfakes,” that are designed to make President Joe Biden look feeble or disoriented: Republicans would not be doing this if they were confident in their candidate or his campaign. Read more at Beutler's newsletter. Same, Obama Former President Barack Obama recently chatted with a group of social media content creators about the Biden administration and the 2024 election. I found his criticisms of the present state of the news media and social media extremely relatable to me as a critic of both. He told the group of young creators to use their powers for good, saying “we live in a cynical time,” that he understands why some people have turned away from political pundits, and that he mostly watches sports because a lot of the political discourse is “slash and burn.” Read more at The Hill. Film fears New York Times columnist Michelle Goldberg published an article about the challenge of getting U.S. distribution that faces “The Apprentice,” the new film about Donald Trump's early years in New York real estate. Goldberg’s post points particularly to Trump’s personal vendettas as president and suggests that U.S. film distributors are fearful of retribution from Trump if he’s elected again. Read more at The New York Times. Shark drones “Shark drones” sounds like the premise of a film tucked away on a streaming platform you forgot you’ve been paying for, but it’s real. New York Gov. Kathy Hochul touted the use of drones as a safety measure to prevent shark attacks on Long Island. These drones, which have also been deployed in Australia, show how emerging tech — particularly artificial intelligence tools — can be used to improve public safety. No labels… yet U.S. Surgeon General Vivek Murthy thinks Congress should pass a bill requiring social media companies to include warning labels, similar to those on tobacco products, on social media platforms. In a New York Times op-ed, Murthy said a label is one of several things lawmakers can and should do to promote awareness about social media’s potentially harmful effects, which experts have been discussing for years. I happen to agree that we need a cultural shift toward greater scrutiny of social media platforms. A warning label could be a helpful step. Read Murthy's op-ed here. The Holy See on AI Speaking at the G7 summit of nations, Pope Francis addressed the rising popularity of artificial intelligence and encouraged nations to ensure it remains focused on humanity. “We need to ensure and safeguard a space for proper human control over the choices made by artificial intelligence programs: Human dignity itself depends on it,” the Pope said. The Vatican’s journey into the ethics of A.I. continues. Read more at the Associated Press. Is ICE’s app effective? Critics of SmartLINK, an app used by Immigration and Customs Enforcement to track undocumented immigrants seeking asylum, have highlighted its invasiveness. Now a new CBS News report suggests that ICE can’t say with certainty how necessary or effective the SmartLINK app is at ensuring undocumented people comply with the asylum process, if only because migrants are already highly incentivized to comply with the requirements. One expert told CBS, "Expanding access to legal representation and other kinds of legal support could serve the same purpose." Read CBS News' report here.

Gen X stands to gain the most wealth from the $84 trillion wealth transfer 2024-06-18 20:41:00+00:00 - Generation X may be the biggest beneficiary from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study. While millennials and members of Generation Z are expecting the biggest inheritances in the coming years as baby boomers pass down their fortunes, Gen Xers will likely get the largest windfalls in the near term. According to Wealth-X, the average age of individuals in North America set to inherit fortunes from parents worth $5 million or more is 46.1 years old. The average age of children expected to receive the most substantial inheritances — from parents worth $30 million or more — is 47.6, according to the study. The study defines members of Gen X as being between the ages of 44 and 59 today, and millennials as between the ages of 28 and 43. The findings cast a spotlight on the large wealth potential for Generation X, which has been largely overlooked in the discussion of young inheritors. Wealth management firms and private banks have largely been focused on potential clients in their 20s and 30s as they wait for trillions to be passed down by families. More than half of millennials are expecting an inheritance of at least $350,000, according to Alliant Credit Union. The Wealth-X report suggests that wealth management firms, luxury companies and real estate firms targeting the next generation of wealthy clients should also start considering Generation X. “Much is often made in the media of millennial and Generation Z heirs but, in fact, Generation X will be first in line to inherit from their wealthy parent(s),” according to the report. The report said that for now, millennials and Gen Z “are more likely to receive sums as grandchildren, which will often be less substantial.” Inheritances will be extremely concentrated at the top. In the next 10 years, 1.2 million individuals worth $5 million or more will pass down a total of more than $31 trillion in wealth, according to the report. Of that amount, nearly two-thirds, 64%, will be from the ultra-wealthy, defined as those worth $30 million or more. In other words, nearly $20 trillion will be passed down from 155,000 people in that upper echelon of wealth. The super-wealthy, or those worth $100 million or more, will account for nearly half the $31 trillion total being handed down. Billionaires will pass down about $5 trillion, according to the report. Inheritors will have different values and priorities from previous generations, which wealth managers, luxury firms and philanthropies need to adapt to. The next generation of investors are more tech influenced, more focused on the environment and social justice and more global, according to the report. “New technologies, the clean-energy transition and ‘impact investing’ will be a focus of many heirs’ ambitions, which may not necessarily align with a family’s existing business structures or the legacy plans of those transferring their fortunes,” the report said.

Senate Republicans derail effort to recreate ban on bump stocks 2024-06-18 20:37:41+00:00 - Bump stock devices were relatively obscure to the American public, right up until 2017, when a gunman in Las Vegas was able to use a bump stock to kill several dozen people and injure several hundred more in one of the worst mass shootings in our history. The public quickly came to realize that bump stocks are an after-market accessory gun owners can attach to semi-automatic rifles to make them fire faster. The Trump administration acted unilaterally to ban the devices in the aftermath of the Las Vegas slayings, but Republican-appointed Supreme Court justices struck down that policy last week. The New York Times’ David Firestone described the ruling as “one of the most astonishingly dangerous decisions ever issued by the court, and it will almost surely result in a loss of American lives in another mass shooting.” Slate’s Mark Joseph Stern added that Justice Clarence Thomas’ ruling was “indefensible“ on the merits. The high court’s decision, however, left the door open to congressional action. In fact, lawmakers had — and still have — the option of simply recreating the Trump administration’s ban and codifying it in federal law. Democratic Sen. Martin Heinrich of New Mexico tried to do exactly that today. Politico reported: Senate Republicans scuttled an attempt from Sen. Martin Heinrich (D-N.M.) to block sales of bump stocks, a firearm accessory allowing semi-automatic rifles to be fired like fully automatic machine guns, after Sen. Pete Ricketts (R-Neb.) objected. Senate Minority Leader Mitch McConnell told reporters earlier that his caucus would not allow the legislation to advance, and the GOP followed through accordingly. Note, there is no final vote tally because Heinrich tried to advance the bill through unanimous consent — a procedural move designed to help quickly advance uncontroversial measures. As a result, it only took one member to object and derail the legislation, and in this case, the bill had a lot more than one opponent. At this point, I imagine many readers are saying, “Well, wasn’t this the obvious outcome? Republicans oppose practically all measures to prevent gun violence, so it hardly comes as a surprise that GOP senators would balk today.” But it’s not quite that simple. In October 2017, less than a week after the deadly massacre at the Mandalay Bay hotel, there was bipartisan support for taking action on bump stocks. A group of GOP senators — a nine-member contingent that included future Senate Minority Whip John Thune and vice presidential contender Tim Scott — pressed the Trump administration’s ATF to pursue a ban in the interest of public safety. They were not excoriated for this break with far-right orthodoxy. For that matter, when the Trump administration agreed with the concerns and created a bump stock ban, conservatives did not condemn the White House or characterize this as an outrageous assault on the Second Amendment. In other words, there’s no reason to reflexively see this as a partisan dispute. If Republicans were on board with a bump stock ban in 2017, they can back the same ban in 2024. “What today’s bill does is return things to the status quo set by Donald Trump, saying bump stocks are dangerous and should be prohibited,” Senate Majority Leader Chuck Schumer said on the floor this morning. “Senate Republicans by and large supported Donald Trump’s ban on bump stocks back then, so they should support this bill today.” The New York Democrat concluded, “If Republicans get in the way today, if they decide to side with the gun lobby instead of parents and teachers and law enforcement, they are asking for another tragedy to strike sooner or later.” A few hours later, the GOP balked. "This will not be the last time you hear about these devices on the floor of the Senate," Heinrich said as the debate came to an end.

EV charging company says Fisker 'abandoned its contract' — so it's yanking promo credits from Fisker customers 2024-06-18 20:33:37+00:00 - By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Fisker filed for bankruptcy on Monday and Ocean owners are already beginning to feel the pinch. EV charging company ChargePoint notified some Fisker Ocean owners that the company had rescinded their promotional charging credits on Tuesday morning. The company said in an email to owners who had received charging credits through Fisker that Henrik Fisker's company had "abandoned its contract with ChargePoint." This story is available exclusively to Business Insider subscribers. Become an Insider and start reading now. "It has done so without paying for any of the promotional charging offers given out to its customers, including the one you redeemed to your ChargePoint account," the email reads, according to a screenshot viewed by Business Insider. "ChargePoint has done everything in our control to reach Fisker and find a way to take care of its drivers, however they have abandoned all communication without resolving payment." Related stories As a result, ChargePoint said in the email that it would have to relinquish any charging credits on the owners' accounts, but Ocean owners would not have to pay for any credits they had already used via Fisker's promo codes. Advertisement ChargePoint customer service confirmed the email when contacted by Business Insider. A spokesperson for Fisker declined to comment. A ChargePoint electrical vehicle charger next to a Tesla. Getty/Patrick T. Fallon Fisker had given some of its customers ChargePoint credits or credits that could be used to subsidize their charging needs to mitigate long repair waits or delivery issues, several owners and two former employees told BI. Fisker first announced a partnership with ChargePoint ahead of the SUV's release in 2023. The company had also said it would offer owners of the Ocean One, a special version of the SUV that was limited to 5,000 cars, a $1,000 ChargePoint credit. ChargePoint is not the first company to accuse Fisker of stiffing them. Last month, an engineering company sued Fisker seeking $13 million in damages, alleging the company failed to meet the terms of its agreement. At the time, a Fisker spokesperson said the lawsuit was "without merit." The charging credits are just one of many problems Fisker Ocean owners might face in the coming months. Business Insider previously reported that owners were concerned their cars might become unusable if Fisker were to go under. The company told BI last week that it has delivered about 7,000 cars to date. Advertisement Do you work at an EV company or have a tip? Reach out to the reporter via a non-work email and device at gkay@businessinsider.com or 248-894-6012

S&P 500 climbs to another record close Tuesday as Nvidia's market cap tops Microsoft 2024-06-18 20:33:00+00:00 - The S&P 500 rose to a fresh record as artificial intelligence darling Nvidia continued its march to new highs, topping Microsoft as the most valuable public company. The broad market index added 0.25% to close at 5,487.03, while the Nasdaq Composite inched up 0.03% to end at 17,862.23. The tech-heavy index also closed at a record. The Dow Jones Industrial Average rose 56.76 points, or 0.15%, to settle at 38,834.86. “You see investors trying to ride this train as long as they can with Nvidia and the usual suspects, but now you also got those second-tier names” participating, said Mahoney Asset Management’s Ken Mahoney. “Money isn’t leaving the market, but I do sense a rotation out of the leaders for this quarter.” Nvidia jumped 3.5% to surpass Microsoft as the most valuable public company, and continue its milestone run after topping a $3 trillion market cap and breezing past Apple in value earlier this month. The chipmaker has surged 174% since the start of the year as enthusiasm for AI shows no signs of dwindling. Some semiconductor stocks also rose in sympathy, with Qualcomm and Taiwan Semiconductor up 2.2% and 1.4%, respectively. Micron Technology gained 3.8%. The sector also caught a bid from declining Treasury yields on the heels of weaker-than-expected retail sales report that spurred hopes for some economic slowing and Federal Reserve rate cut rates. “Without the consumer, this bull market is going to stall out, so investors need to see more consumer spending and not a material slowdown, which this report could be indicating,” said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance. Tuesday’s moves follow a positive session on Wall Street that propelled the S&P 500 and Nasdaq to all-time highs and record closing levels.

California fines Amazon nearly $6M, alleging illegal work quotas at 2 warehouses 2024-06-18 20:27:52+00:00 - LOS ANGELES (AP) — California has fined Amazon a total of $5.9 million, alleging the e-commerce giant worked warehouse employees so hard that it put their safety at risk, officials said Tuesday. The two citations issued in May by the California Labor Commissioner’s Office said Amazon.com Services LLC ran afoul of the state’s Warehouse Quota Law at facilities in Riverside and San Bernardino counties, east of Los Angeles. The law, which took effect in 2022, “requires warehouse employers to provide employees written notice of any quotas they must follow, including the number of tasks they need to perform per hour and any discipline that could come” from not meeting the requirements, the labor commissioner’s office said in a statement. Amazon was fined $1.2 million at a warehouse in Redlands and $4.7 million at another in nearby Moreno Valley. The company said Tuesday that it disagrees with the allegations and has appealed the citations. “The truth is, we don’t have fixed quotas. At Amazon, individual performance is evaluated over a long period of time, in relation to how the entire site’s team is performing,” company spokesperson Maureen Lynch Vogel said in a statement. “Employees can — and are encouraged to — review their performance whenever they wish. They can always talk to a manager if they’re having trouble finding the information.” The citations allege that Amazon failed to provide written notice of quotas. Labor Commissioner Lilia García-Brower said Amazon engaged in “exactly the kind of system” that the quotas law was put in place to prevent. “Undisclosed quotas expose workers to increased pressure to work faster and can lead to higher injury rates and other violations by forcing workers to skip breaks,” she said in a statement. The agency began investigating in 2022 after employees at the two Southern California facilities reported that they were subject to unfair quota practices, said the Warehouse Worker Resource Center, a nonprofit that advocates for improving working conditions. Similar legislation has been enacted in Minnesota, New York, Oregon and Washington, the resource center said. In May, U.S. Sen. Edward Markey, a Democrat from Massachusetts, introduced a federal version of the warehouse worker protection act in Congress.