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Rachel Reeves will vow to lead most ‘pro-growth’ Treasury in UK history 2024-05-27 22:31:00+00:00 - Rachel Reeves will pledge on Tuesday to lead the most “pro-growth” Treasury in UK history if Labour wins the general election. Addressing business leaders, the shadow chancellor is poised to claim her party would “return to the centre ground of politics” by striking a balance between workers’ needs and business interests. She is also expected to say she is committed to delivering economic stability so that “families and businesses can plan for the future” without the risk of “a repeat of the mini-budget”. Labour will instead “offer a government that is pro-worker and pro-business, in the knowledge that each depends upon the success of the other”. In a swipe at Rishi Sunak, Reeves will say the timing of the snap election was a damning indictment of his economic plans: “If he really believed his plan was working, he wouldn’t have called an election now.” She is expected to tell business chiefs: “The general election in five weeks’ time is a chance for the British people to pass judgment on 14 years of economic chaos and decline under the Conservatives. “Fourteen years of chaos that have seen taxes reach a 70-year high. National debt more than double. And the average mortgage holder having to pay £240 more a month after Liz Truss’s disastrous mini-budget.” Her words will strike the same tone as the Labour party leader, Keir Starmer, who said that claims from Sunak that the UK has turned the corner were “a form of disrespect in itself”. On Monday evening it was also reported that 121 business leaders have leant their support to Labour in a joint letter signed by former executives from JP Morgan, Heathrow, Aston Martin and JD Sports – as well as the Wikipedia founder, Sir Jimmy Wales, and Tom Kerridge, the chef and restauranteur . “We, as leaders and investors in British business, believe it is time for a change,” said the letter to the Times, which was also signed by the founder of the childcare company that Akshata Murty, the prime minister’s wife, previously held shares and the Iceland founder Sir Malcolm Walker, who in 2015 publicly backed the Conservatives. “For too long, our economy has been beset by instability, stagnation and a lack of long-term focus.” Reeves’s speech comes as the shadow chancellor seeks to strike a political balance between the views of businesses and trade unions. Her refusal to rule out all fire-and-rehire employment practices has drawn criticism from union leaders in recent days. The Unite union’s secretary general, Sharon Graham, said Labour’s plans – which exclude an outright ban on the practice – had “more holes than Swiss cheese”. Reeves has since said that the plans still amount to the “biggest ever extension of workplace rights that’s ever been introduced” and that fire-and-rehire would only be tolerated in extreme circumstances such as a company going bankrupt. She also faces further challenges in the coming weeks to illustrate how she can promise to keep a tight hand on the public finances while also rejuvenating ailing public services with fresh investment. Reeves has promised that Labour will not oversee a “return to austerity” as she ruled out increases to income tax or national insurance. Speaking on BBC One’s Sunday with Laura Kuenssberg, she said: “There’s not going to be a return to austerity under a Labour government. We had austerity for five years and that is part of the reason why our economy and our public services are in a mess today.” Reeves added that the party would raise money to fund its pledges by introducing VAT on private school fees, increasing tax on private equity bonuses, extending the windfall tax on energy companies’ profits, and cracking down on non-doms and tax avoidance.
Ransomware Group Claims Responsibility for Christie’s Hack 2024-05-27 22:26:44+00:00 - A hacker group called RansomHub said it was behind the cyberattack that hit the Christie’s website just days before its marquee spring sales began, forcing the auction house to resort to alternatives to online bidding. In a post on the dark web on Monday, the group claimed that it had gained access to sensitive information about the world’s wealthiest art collectors, posting only a few examples of names and birthdays. It was not immediately possible to verify RansomHub’s claims, but several cybersecurity experts said they were a known ransomware operation and that the claim was plausible. Nor was it clear if the hackers had gained access to more sensitive information, including financial data and client addresses. The group said it would release the data, posting a countdown timer that would reach zero by the end of May. At Christie’s, a spokesman said in a statement, “Our investigations determined there was unauthorized access by a third party to parts of Christie’s network.” The spokesman, Edward Lewine, said that the investigations “also determined that the group behind the incident took some limited amount of personal data relating to some of our clients.” He added, “There is no evidence that any financial or transactional records were compromised.” Hackers said that Christie’s failed to pay a ransom when one was demanded. “We attempted to come to a reasonable resolution with them but they ceased communication midway through,” the hackers wrote in their dark web post, which was reviewed by a New York Times reporter. “It is clear that if this information is posted they will incur heavy fines from GDPR as well as ruining their reputation with their clients.”
Elon Musk's xAI says it raised $6 billion to develop artificial intelligence 2024-05-27 22:03:00+00:00 - A group of investors will put up $6 billion to fund development of artificial intelligence by Elon Musk's xAI. The company said on its website Sunday that the Series B funding round will be used to take xAI's first products to market and speed up research. xAI said it has made "significant strides" during the past year in developing the technology, which will continue in the coming months. Investors in the latest round include Andreessen Horowitz, Sequoia Capital, Fidelity Management & Research, Valor Equity Partners, Vy Capital, Saudi Prince Alwaleed Bin Talal and Kingdom Holding. Musk wrote on the social media site X that before the investment, xAI had a valuation of $18 billion. The new funding should help Musk's company compete against Microsoft and OpenAI, creator of ChatGPT, in the race to develop artificial intelligence. Separately, Tesla shareholders were urged to reject Musk's $56 billion pay package by proxy advisory firm Glass Lewis, which in a Saturday report singled out the "excessive size" of the deal and its potentially negative impact on smaller shareholders . The recommendation from the influential proxy advisory company comes as Tesla is asking its shareholders to vote again on his 2018 pay package after a Delaware judge earlier this year nullified the payout, which was the biggest compensation plan in corporate America. Tesla shareholders are set to vote on the pay package on June 13. Glass Lewis also singled out Musk's "slate of extraordinarily time-consuming projects unrelated to [Tesla]" in its recommendation to vote against the pay deal. In addition to his role as Tesla's CEO, Musk is also involved in xAi, SpaceX, the Boring Company, Neuralink and X, the former Twitter. Musk announced the formation of xAI in July of last year. The company released its artificial intelligence chatbot, Grok, in November.
Stanley Goldstein, Who Helped Make CVS a Pharmacy Giant, Dies at 89 2024-05-27 21:25:44.715000+00:00 - Stanley P. Goldstein, who in the early 1960s helped start a retail chain named Consumer Value Stores, which, after shortening its name to CVS — because, he said, fewer letters meant cheaper signs — grew into the largest drugstore chain in the United States, died on Tuesday at his home in Providence, R.I. He was 89. The company, which is headquartered in Rhode Island, announced his death. Family members told The Providence Journal that the cause was cancer, diagnosed about a month ago. Mr. Goldstein was frequently described as informal and no-nonsense — much like the airy, brightly lit outlets that he, a brother and a third founder opened in 1963 to sell cut-price toothpaste, aftershave, Band-Aids and other personal care products. When he retired as chief executive in 1998, the company had more than 4,000 stores. Today, it has more than 9,000 outlets in the United States and its territories, and its revenues are larger than those of Exxon Mobil, Microsoft and Ford.
Donor fatigue persists as nations commit around $8.1 billion for conflict-hit Syrians 2024-05-27 21:08:16+00:00 - BEIRUT (AP) — International donors meeting in Brussels said Monday they will commit 7.5 billion euros ($8.1 billion) in both grants and loans to support Syrians battered by war, poverty, and hunger for the rest of this year and beyond. The pledges surpassed the modest $4.07 billion that the United Nations had appealed for, but was also a significant drop from amounts pledged last year and previously — an indication of persisting donor fatigue as the world’s attention is focused on conflicts elsewhere, including the wars in Ukraine and Sudan, and most recently Israel’s war with Hamas in Gaza. At last year’s conference, donors pledged $10.3 billion, just months after a 7.8 magnitude earthquake struck Turkey and much of northern Syria, killing over 59,000 people, including 6,000 in Syria. This year’s amount is meant both for Syrians inside the war-torn country and for some 5.7 million Syrian refugees in neighboring Turkey, Lebanon and Jordan, which struggle with economic crises of their own and have been frustrated by the ever-shrinking aid. This year’s pledged total includes 5 billion euros in grants — about 3.8 billion euros for 2024 and 1.2 billion euros for the next year and beyond — and 2.5 billion euros in loans. U.N. agencies and international aid organizations in recent years have struggled with shrinking budgets, and humanitarian officials have decried the budget cuts that have forced the downsizing of aid programs despite skyrocketing poverty. Syria’s civil war, which erupted in 2011, has killed nearly half a million people and displaced half the country’s pre-war population of of 23 million. For several years now, the conflict has remained largely frozen, along with efforts to find a viable political solution to end it. Meanwhile, millions of Syrians have been pulled into poverty, and struggle with accessing food and health care as the economy deteriorates. The conference brought back the urgency of trying to revitalize a gridlocked U.N.-led roadmap to end the conflict even as the mood in host countries turns increasingly hostile towards Syrian refugees. Officials in tiny Lebanon, which hosts almost 780,000 registered Syrian refugees and hundreds of thousands of others who are undocumented, have been demanding that refugees return to alleged “safe zones” in Syria, even before a political solution is in place to end the war. Aid organizations and most Western countries believe such places don’t exist and that conditions in Syria are not yet conducive to safe returns. In Brussels, eight EU member states who have called for the reassessment of conditions in Syria to allow refugee returns, reiterated those calls at the conference. Cyprus, which says it has been struggling to cope with surging Syrian migration, was among them, and Hungary echoed similar sentiments. Aid groups have insisted that more sustainable solutions, notably through boosting early recovery efforts to fix infrastructure and help create jobs in Syria is a crucial condition for people to go back. “The more that people that will be lacking essential services, safety, and basic commodities, the more difficult it will be to pave the way towards stability, reconciliation and returns,” Stephan Sakalian, the head of the International Committee of the Red Cross in Syria, told The Associated Press. “If we want to be able to ensure sustainable refugee returns, we have give to the people the possibility to come back voluntarily, safely, and in a sustainable environment,” he added. “Otherwise we risk seeing the reverse trend of people wanting to continue leaving Syria.”
Tesla shareholders urged to reject Elon Musk's $56 billion pay package 2024-05-27 20:23:00+00:00 - Tesla shareholders should reject CEO Elon Musk's $56 billion pay package, according to proxy advisory firm Glass Lewis, which singled out the "excessive size" of the deal and its potentially negative impact on smaller shareholders. The recommendation from the influential proxy advisory company comes as Tesla is asking its shareholders to vote again on his 2018 pay package after a Delaware judge earlier this year nullified the payout, which was the biggest compensation plan in corporate America. Tesla shareholders are set to vote on the pay package on June 13. The company didn't immediately respond to a request for comment about Glass Lewis' recommendation to vote against the pay deal. Proxy advisory firms are relied on by institutional investors to provide research and advice on how to vote during annual and special meetings on public companies' proxy proposals, which can range from executive compensation to corporate governance issues. In Tesla's case, Glass Lewis wrote in a 71-page report, shared with CBS MoneyWatch, that Tesla shareholders risk stock dilution if Musk is granted the massive stock grant, meaning that their shares could be worth less as a result. The proxy advisory firm also noted that Musk is well compensated through his current 12.9% ownership of Tesla, a stake that is valued at about $74 billion, according to the Bloomberg Billionaires Index. Musk doesn't receive a salary from Tesla, but Glass Lewis noted that his shares in the company mean that his interests are already aligned with that of the business. The value of Musk's current Tesla stake "challenges the very basis that the 2018 grant as structured and sized was even necessary," Glass Lewis wrote. Dilution occurs when a company issues additional stock, which in turn shrinks the proportional ownership stake of pre-existing shares. Under the 2018 pay deal for Musk, Tesla would issue about 304 million new shares, creating a dilution effect of about 9%, the firm said. "[T]hese concerns are exacerbated by the concentration of ownership in Mr. Musk," the report said, noting that Musk would increase his ownership stake to 22.4% if the 2018 pay package were to be approved next month. "Mr. Musk would be the Company's largest shareholder by a healthy margin." It added, "Given the impact on the holdings of other shareholders, the continued concentration of ownership around Mr. Musk warrants particular attention."
US company rejects Mexico’s criticism, buy-out offer, says president’s projects hurt the environment 2024-05-27 19:32:56+00:00 - MEXICO CITY (AP) — An American quarry company on Monday rejected the Mexican president’s campaign of criticisms and closures, as well as his offer to buy its property on the Caribbean coast. In July, President Andrés Manuel López Obrador offered to buy the American company’s Caribbean coast property for about $385 million amid a bitter, years-long dispute. Alabama-based Vulcan Materials said in a statement Monday that offer “substantially undervalues our assets.” In papers filed on the case in an international arbitration panel, Vulcan Materials valued the almost 6,000-acre (2,400 hectare) property, located just south of the resort town of Playa del Carmen, at $1.9 billion. The Mexican president has in the past threatened to expropriate the extensive property, claiming the pits it has dug to extract crushed limestone have damaged the fragile system of underground rivers and caves in the area. But Vulcan Materials rejected the charge. “Our operations have not adversely affected underground caves, cenotes or archaeological sites. In fact, we have mapped, protected and preserved these valuable resources,” the company said in a statement. Instead, the company alleged that some other quarries in the area have been operating unlawfully. “Unlike other quarrying sites that have been operating unlawfully to supply the Mayan Train, our operations were duly permitted,” the company said. The Mayan Train is a pet project of López Obrador to build a tourist train around the Yucatan peninsula. Activists, cave divers and archeologist say the project has damaged the caves, which hold some of the oldest human remains in North America. The president’s office had no immediate reaction to Vulcan’s allegations. López Obrador has said in the past that the most attractive part of the property was the company’s freight shipping dock — the only deep port on the coast’s mainland — which he plans to turn into a dock for cruise ships. He says he wants to turn the rest of the property into a natural reserve. “The Mexican government is using these political threats and false allegations to try to justify converting our property into a “naturally protected area,” which could — ironically — be used not to protect the environment but for commercial tourism purposes and naval operations, including cruise ship activity”, the company said. López Obrador said he also wants to use the flooded pits that the company dug out of hundreds of acres of the limestone soil as “swimming pools” or an “ecotourism” area that would be operated as a concession by a private operator. The huge pits are inhabited by crocodiles, which are a protected species in Mexico. The company’s dock at Punta Venado is the only one in the area that can handle cement, crushed stone and other shipments for the Maya Train. The 950-mile (1,500-kilometer) Maya Train line is meant to run in a rough loop around the Yucatan Peninsula, connecting beach resorts and archaeological sites. López Obrador touts the train as a way to bring some of Cancun’s tourism income to inland communities that haven’t shared in the wealth. But there are no credible feasibility studies showing tourists would want to use the train.
The Delivery Business Shows Why Unions Are Struggling to Expand 2024-05-27 19:00:10+00:00 - Last year, two unions representing workers at three large automakers and UPS negotiated new labor contracts that included big raises and other gains. Leaders of the unions — the United Automobile Workers and the Teamsters — hoped the wins would help them organize workers across their industry. The U.A.W. won one vote to unionize a Volkswagen factory in Tennessee last month and lost one this month at two Mercedes-Benz plants in Alabama. The Teamsters have made even less progress at UPS’s big nonunion rivals in the delivery business, Amazon and FedEx. Polling shows that public support for unions is the highest it has been in decades. But labor experts said structural forces would make it hard for labor groups to increase their membership, which is the lowest it has been as a percentage of the total work force in decades. Unions also face stiff opposition from many employers and conservative political leaders. The Teamsters provide an instructive case study. Many of the workers doing deliveries for Amazon and FedEx work for contractors, typically small and medium-size businesses that can be hard to organize. And delivery workers employed directly by FedEx in its Express business are governed by a labor law that requires unions to organize all similar workers at the company nationally at once — a tougher standard than the one that applies to organizing employees at automakers, UPS and other employers.
2 rules for drinking at a networking event: It's not cocktail hour, it's 'relationship building hour,' Harvard career advisor says 2024-05-27 18:56:00+00:00 - Networking events can be intimidating. You have to be professional but personable, come off as confident but not schmoozy. Walking this line can be challenging and you might find yourself turning to an open bar to quell some of your nerves. Imbibing isn't outright bad, but, as anyone who has had one too many drinks knows, there are some instances when alcohol can hinder your social skills instead of help. Your goal at networking events is to convey you are "competent, committed and compatible," says Gorick Ng, a Harvard career adviser and author of "The Unspoken Rules." "It may be called 'cocktail hour,' but it's really 'relationship building hour,'" he says. "It's your chance to walk up to a stranger and turn them into an acquaintance or ally." Here is the right way to use an open bar at a networking event, according career experts.
Want the best sunscreens this Memorial Day? The FDA is blocking you. 2024-05-27 18:38:03+00:00 - Americans visiting beaches in France, Spain or Italy often do something that’s illegal back home: They purchase and use European sunscreens for better protection against sunburn and skin cancer. Many dermatologists argue that American sunscreens are far behind the scientific frontier, and they worry that the Food and Drug Administration’s decadeslong delay in approving new sunscreens for purchase in the U.S. is contributing to rising rates of skin cancer. Americans visiting beaches in France, Spain or Italy often do something that’s illegal back home: They purchase and use European sunscreens. In the European Union, sunscreens are regulated as cosmetics, which means greater flexibility in approving active ingredients. In the U.S., sunscreens are regulated as drugs, which means getting new ingredients approved is an expensive and time-consuming process. Because they’re treated as cosmetics, European-made sunscreens can draw on a wider variety of ingredients that protect better and are also less oily, less chalky and last longer. Does the FDA’s lengthier and more demanding approval process mean U.S. sunscreens are safer than their European counterparts? Not at all. In fact, American sunscreens may be less safe. Sunscreens protect by blocking ultraviolet rays from penetrating the skin. Ultraviolet B (UVB) rays, with their shorter wavelength, primarily affect the outer skin layer and are the main cause of sunburn. In contrast, ultraviolet A (UVA) rays have a longer wavelength, penetrate more deeply into the skin and contribute to wrinkling, aging and the development of melanoma, the deadliest form of skin cancer. In many ways, UVA rays are more dangerous than UVB rays because they are more insidious. UVB rays hit when the sun is bright, and because they burn they come with a natural warning. UVA rays, though, can pass through clouds and cause skin cancer without generating obvious skin damage. The problem is that American sunscreens work better against UVB rays than against the more dangerous UVA rays. That is, they’re better at preventing sunburn than skin cancer. In fact, many U.S. sunscreens would fail European standards for UVA protection. Precisely because European sunscreens can draw on more ingredients, they can protect better against UVA rays. Thus, instead of being safer, U.S. sunscreens may be riskier. European sunscreens are also more pleasant to apply, and because they work better with makeup they are probably used more often as part of a skin care regimen, which may reduce the prevalence of skin cancer. Once again, the United States’ slower and seemingly more risk-averse approach actually increases risk. Dangerous precaution should be a familiar story. During the Covid pandemic, Europe approved rapid-antigen tests much more quickly than the U.S. did. As a result, the U.S. floundered for months while infected people unknowingly spread disease. By one careful estimate, over 100,000 lives could have been saved had rapid tests been available in the U.S. sooner. American sunscreens work better against UVB rays than against the more dangerous UVA rays. That is, they’re better at preventing sunburn than skin cancer. Americans have also seen their options for treating colds diminished in recent years. In September 2023, an FDA advisory committee concluded that phenylephrine doesn’t work to clear nasal congestion. The FDA is probably correct, but it’s frustrating that options that do work are not available in the U.S. even though they are available in Europe. Ambroxol is an excellent decongestant available nearly everywhere in the world as a generic. It has been in wide use since 1979 and is regarded as both safe and effective. But it’s not available in the U.S. because getting through the FDA process is too costly. In 2013, then-FDA Commissioner Margaret A. Hamburg told lawmakers that sorting out the sunscreen issue was “one of the highest priorities.” Yet, it still hasn’t been done. Americans have been without good sunscreen and cough medicine for too long. There is a simple solution to these problems. If a medical drug or device has been approved by another developed country, a country that the World Health Organization recognizes as a stringent regulatory authority, then it ought to be fast-tracked for approval in the U.S. The logic of peer approval is simple: If it’s good enough for the Germans, then it’s good enough for us! Americans traveling in Europe do not hesitate to use European sunscreens, rapid tests or cough medicine, because they know the European Medicines Agency is a careful regulator, at least on par with the FDA. But if Americans in Europe don’t hesitate to use European-approved pharmaceuticals, then why are these same pharmaceuticals banned for Americans in America? As someone who has studied and often critiqued the FDA for many years, I also know the FDA can be timely and efficient. Europe has sometimes made some better choices, but at times so has the FDA. A peer-approval system would work both ways. Europe would also take into account FDA decisions. Peer-approval is more about spreading the burden of review and speeding up good decisions than it is about castigating the FDA. Peer approval is working in other regulatory fields. A German driver’s license, for example, is recognized as legitimate — i.e., there’s no need to take another driving test — in most U.S. states and vice versa. And the FDA does recognize some peers. When it comes to food regulation, for example, the FDA recognizes the Canadian Food Inspection Agency as a peer. Peer approval means that food imports from and exports to Canada can be sped through regulatory paperwork, bringing benefits to both Canadians and Americans. The FDA’s overly cautious approach on sunscreens is a lesson in how precaution can be dangerous. Peer approval has bipartisan support in Congress. Politicians as far apart as Sen. Ted Cruz, R-Texas, and Rep. Alexandria Ocasio-Cortez, D-N.Y., have indicated support for fast-tracking approval in the U.S. for at least some drugs and devices already approved in other developed countries — a rare moment of wise bipartisan agreement. In short, the FDA’s overly cautious approach on sunscreens is a lesson in how precaution can be dangerous. By adopting a peer-approval system, we can prevent deadly delays and provide Americans with better sunscreens, effective rapid tests and superior cold medicines. This approach, supported by both sides of the political aisle, can modernize our regulations and ensure that Americans have timely access to the best health products. It’s time to move forward and turn caution into action for the sake of public health and for less risky time in the sun.
Trying to tame AI: Seoul summit flags hurdles to regulation 2024-05-27 17:41:00+00:00 - The Bletchley Park artificial intelligence summit in 2023 was a landmark event in AI regulation simply by virtue of its existence. Between the event’s announcement and its first day, the mainstream conversation had changed from a tone of light bafflement to a general agreement that AI regulation may be worth discussing. However, the task for its follow-up, held at a research park on the outskirts of Seoul this week, is harder: can the UK and South Korea show that governments are moving from talking about AI regulation to actually delivering it? At the end of the Seoul summit, the big achievement the UK was touting was the creation of a global network of AI safety institutes, building on the British trailblazers founded after the last meeting. The technology secretary, Michelle Donelan, attributed the new institutes to the “Bletchley effect” in action, and announced plans to lead a system whereby regulators in the US, Canada, Britain, France, Japan, Korea, Australia, Singapore and the EU share information about AI models, harms and safety incidents. View image in fullscreen Michelle Donelan, the UK technology minister, said the emerging global network of safety institutes was down to progress made at the Bletchley Park summit last year. Photograph: Lee Jin-man/AP “Two years ago, governments were being briefed about AI almost entirely by the private sector and academics, but they had no capacity themselves to really develop their own base of evidence,” said Jack Clark, the co-founder and head of policy at the AI lab Anthropic. In Seoul, “we heard from the UK safety institute: they’ve done tests on a range of models, including Anthropic’s, and they had anonymised results for a range of misuses. They also discussed how they built their own jailbreaking attacks, to break the safety systems on all of these models.” That success, Clark said, had left him “mildly more optimistic” than he was in the year leading up to Bletchley. But the power of the new safety institutes is limited to observation and reporting, running the risk that they are forced to simply sit by and watch as AI harms run rampant. Even so, Clark argued, “there is tremendous power in embarrassing people and embarrassing companies”. “You can be a safety institute, and you can just test publicly available models. And if you find really inconvenient things about them, you can publish that – same as what happens in academia today. What you see is that companies take very significant actions in response to that. No one likes being in last place on the leaderboard.” View image in fullscreen Jack Clark, the co-founder and head of policy at Anthropic, said the toothless safety institutes have ‘tremendous power’ to embarrass firms. Photograph: Anthony Wallace/AFP/Getty Images Even the act of observing itself can change things. The EU and US safety institutes, for instance, have set “compute” thresholds, seeking to define who comes under the gaze of their safety institutes by how much computing power they corral to build their “frontier” models. In turn, those thresholds have started to become a stark dividing line: it is better to be marginally under the threshold and avoid the faff of working with a regulator than to be marginally over and create a lot of extra work, one founder said. In the US, that limit is high enough that only the most well-heeled companies can afford to break it, but the EU’s lower limit has brought hundreds of companies under its institute’s aegis. Nonetheless, IBM’s chief privacy and trust officer, Christina Montgomery, said: “Compute thresholds are still a thing, because it’s a very clear line. It is very hard to come up with what the other capacities are. But that’s going to change and evolve quickly, and it should, because given all the new techniques that are popping up around how to tune and train models, it doesn’t matter how large the model is.” Instead, she suggested, governments will start to focus on other aspects of AI systems, such as the number of users that are exposed to the model. View image in fullscreen Andrew Ng, the former boss of Google Brain, argued for the applications of AI to be targeted by regulation, rather than the AI systems themselves. Photograph: Anthony Wallace/AFP/Getty Images The Seoul summit also exposed a more fundamental divide: should regulation target AI at all, or should it focus only on the uses of AI technologies? Former Google Brain boss Andrew Ng made the case for the latter, arguing that regulating AI makes as much sense as regulating “electric motors”: “It’s very difficult to say, ‘How do we make an electric motor safe?’ without just building very very small electric motors.” Ng’s point was echoed by Janil Puthucheary, the Singaporean senior minister for communications, information and health. “Largely, the use of AI today is not unregulated. And the public is not unprotected,” he said. “If you are applying AI within the healthcare sector, all the regulatory tools of the healthcare sector have to be brought to bear to the risks. If it was then applied in the aviation industry, we already have a mechanism and a platform to regulate that risk.” But the focus on applications rather than the underlying AI systems risks missing what some think of as the greatest AI safety issue of all: the chance that a “superintelligent” AI system could lead to the end of civilisation. The Massachusetts Institute of Technology professor Max Tegmark compared the release of GPT-4 to the “Fermi moment”, the creation of the first nuclear reactor, which all but guaranteed an atomic bomb wouldn’t be far behind, and said the similar risk of powerful AI systems needed to remain at front of mind. Donelan defended the shift in focus. “One of the key pillars today is inclusivity, which can mean many things, but it should also mean inclusivity of all the potential risks,” she said. “That is something that we are constantly trying for.” For Clark, that came as cold comfort. “I would just say that the more things you tried to do, the less likely it is that you’re going to succeed at them,” he said. “If you end up with a kitchen-sink approach, then you’re going to really dilute the ability to get anything done.”
Two-time NBA champion Bill Walton dead at 71 2024-05-27 17:36:00+00:00 - Two-time NBA champion Bill Walton, who dominated the hard court during a 13-year pro basketball career and later excelled as a broadcaster who both delighted and dismayed sports fans with his sometimes zany color commentary, died after a "prolonged battle with cancer," the league announced Monday. Walton, who was 71, was with his family when he died, NBA spokesperson Mark Broussard said in a statement. Bill Walton at a game between the Los Angeles Clippers and the Phoenix Suns in Los Angeles on April 20, 2023. Allen Berezovsky / Getty Images file "Bill Walton was truly one of a kind," NBA Commissioner Adam Silver said in a statement. "As a Hall of Fame player, he redefined the center position." Walton led the Portland Trail Blazers to an NBA championship in 1977 and won a second NBA title as a member of the Boston Celtics in 1986. And after a 13-year career on the hardwood, Walton "translated his infectious enthusiasm and love for the game to broadcasting, where he delivered insightful and colorful commentary which entertained generations of basketball fans," Silver said. Born Nov. 5, 1952, in La Mesa, California, Walton was a 6-11 high school basketball phenom before he went to play for coach John Wooden and the UCLA Bruins. There, Walton won three consecutive National College Player of the Year awards from 1972 to 1974 and helped lead the Bruins to NCAA championships in 1972 and 1973. Walton was selected for the 1972 U.S. Olympic basketball team but opted not to play. Off the court, Walton became one of the most polarizing athletes in the country with his outspoken opposition to the Vietnam War, the Nixon administration and the FBI. He was even arrested at a war protest during his junior year. Walton also broke the mold for what a college athlete should look like with his shock of flame red hair and flannel shirts. He declared himself a vegetarian, practiced meditation and became a lifelong fan of The Grateful Dead. “Your generation has screwed up the world,” he said in a statement after his arrest. “My generation is trying to straighten it out. Money doesn’t mean anything to me. It can’t buy happiness, and I just want to be happy.” Being happy to Walton meant pursuing an NBA career. Selected as the first overall pick in the 1974 NBA draft, he led the Trail Blazers to a championship three years later and also won the NBA Finals Most Valuable Player award. In 1978, Walton won the NBA's Most Valuable Player award. But starting in high school and for the rest of his career, Walton was dogged by foot and leg injuries that forced him to play through the pain. He missed three seasons because of injuries that required some three dozen operations to correct. At age 34, Walton retired after having played just 10 games of the 1986-87 season. In his autobiography, he wrote that his biggest regret was playing hurt. “I didn’t let pain be my guide,” Walton wrote. “I didn’t say, ‘If it hurt a lot, don’t play.'" But he was not done with basketball. A stutterer, Walton overcame his speech impediment to become one of the country's best-known — and sometimes controversial — basketball commentators. Walton called games for NBC, ABC, CBS, Fox, ESPN, Turner Sports and, most recently, ESPN broadcasts of Pac-12 basketball. In 2001, he received an Emmy for best live sports television broadcast. Along the way, he built a collection of outlandish quips, some of which were compiled online by an outfit called Awful Announcing. "Come on, that was no foul," Walton once declared midgame. "It may be a violation of all the basic rules of human decency, but it’s not a foul." Walton once likened a player to a mosquito. “If you ever think you’re too small to make a difference, you’ve never spent a night in bed with a mosquito or you’ve never played basketball against Taylor from Utah — No. 11 in your program, No. 1 in your heart.” Walton could also go over the top with praise. For example: “John Stockton is one of the true marvels, not just of basketball or in America, but in the history of Western civilization!” While doing a live broadcast of another college game in 2015, Walton posed a head-scratching question: "Have you ever been milked?" He is survived by his second wife, Lori, and his sons from his first marriage: Adam, Luke, Nate and Chris, according to the NBA.
Best Buy is the most impersonated company by scammers, FTC says 2024-05-27 16:57:00+00:00 - Here's how to protect yourself against scammers, according to Pennsylvania State Police Here's how to protect yourself against scammers, according to Pennsylvania State Police 01:55 If someone reaches out purporting to be a member of Geek Squad's tech support team, they could be an imposter trying to take your money. Electronics retailer Best Buy and its Geek Squad tech help arm was the most impersonated brand in 2023, according to a new report from the Federal Trade Commission (FTC). Amazon and PayPal were the second and third most frequently impersonated companies, the agency said. Scammers dupe customers through multiple channels, including phone, email and social media, swindling them out of more than $1 billion a year. In 2023, consumers submitted roughly 52,000 complaints about scammers pretending to be representatives from Best Buy or Geek Squad, according to the FTC. One way they contacted consumers was through email. "For example, phony Geek Squad emails tell you that a computer service you never signed up for is about to renew – to the tune of several hundred dollars," the FTC said in a statement last week. In all, consumers reported losing $15 million to Best Buy and Geek Squad-related scams in 2023. "Our customers' safety is incredibly important to us. While scams are becoming increasingly sophisticated, we have a team of experts and a number of resources dedicated to help prevent fraud and educate consumers, including how to spot warning signs and protect themselves," Best Buy said in a statement to CBS MoneyWatch. Best Buy also urged customers to report suspected scams by calling the company's support line. While the greatest number of complaints were related to Best Buy and Geek Squad, customers lost even more money to scammers impersonating Microsoft and Publishers Clearing House. They reported losing a combined $109 million to Microsoft and Publishers Clearing House-related scams, according to the FTC. Scammers also commonly impersonated Amazon, PayPal, NortonLifeLock, Apple, Comcast Xfinity, Bank of America and Wells Fargo. Consumers said they were most often targeted by email and phone, but that they also received a number of phony online shopping solicitations on social media platforms, including Facebook and Instagram. Avoiding scams The FTC offered these tips for consumers to protect their wallets against scammers. Stop and think before you pay someone you don't know, especially if they're creating a false sense of urgency. "Anyone who's rushing you into sending money, buying gift cards, or investing in cryptocurrency is almost certainly a scammer," the FTC states on its website. Don't click on links in unexpected messages, and don't trust caller ID. Instead, contact the company through contact information available on its website. Legitimate businesses will never demand payment through gift card, cryptocurrency, money transfer or a payment app. Be wary of anyone who demands payment in these forms.
Concerts ruined by selfish people using their phones 2024-05-27 16:54:00+00:00 - Your editorial about mobile phones in concert halls reminded me of the very strong stance taken by Keith Jarrett, the American jazz and classical pianist, who insisted that no photography was allowed during any of his performances (The Guardian view on phones in concert halls: what engages some enrages others, 19 May). This was expressed before the concert by the promoters and by Jarrett’s manager. Sadly, on many occasions, a flash from a phone in the audience would happen and subsequently either the concert would come to an abrupt end or there would be a lengthy delay before the performance would resume. The wishes of the musician were not respected. I can appreciate the appeal, especially among a younger audience, of wanting to capture a memorable moment, but for me it’s all about putting phones away and being very much present in the music. Bren Pointer London After 50 years and several hundred gigs and concerts, in 2022 we decided to retire from going to concerts and gigs. We grew tired of people spoiling what should be an enjoyable experience with the use of cameraphones. You pay good money to see artists on stage, which is then ruined by selfish people raising their screens in your line of vision. Why watch something on a tiny screen when you can live in the moment? Our best memories of gigs are in our heads, starting with James Taylor in 1971. Some venues make an effort to stop this selfish behaviour, but many don’t. It is time that more artists made a stand to stop so-called music fans recording their performances (as the opera singer Ian Bostridge did). If they did, we might return to concerts and gigging. We miss it. Barry and Joy Norman Drighlington, West Yorkshire Concerts and operas are given by musicians who have spent a great deal of time developing the skills and understanding that ensure their performances are revealing and memorable. The idea that audiences should be allowed to disturb their performances with the latest technology is utterly unacceptable. What next? Dancing and laughter at a funeral? Meirion Bowen London Call me a fuddy-duddy if you like, but I shall never accept the use of phones during a performance in a concert hall or theatre. As for those people who can’t be parted from their screens until the conductor raises his baton, they truly set my teeth on edge. Nowadays, when I look down on the stalls from my seat in our local concert hall, where once I saw fellow concertgoers about to share a divine experience with me, all I notice is a sea of blue. This was once a very special moment, when I could feel an absolute affinity with my neighbours. Nowadays, and moreover ever since Covid, I am more likely to feel alienated. How sad. Joan Lewis St Etienne de Gourgas, France
‘Furiosa’ sneaks past ‘Garfield’ to claim No. 1 spot over Memorial Day holiday weekend 2024-05-27 16:46:42+00:00 - Furiosa won the holiday box office over Garfield by a hair. It was a close race, but the wasteland warrior of “ Furiosa: A Mad Max Saga ” came out slightly ahead of the plump orange cat with an estimated $32 million in ticket sales over the four-day weekend according to studio estimates Monday. “ The Garfield Movie,” a Sony release, earned $31.1 million in its first four days. The dust won’t officially settle on the showdown until Tuesday when final numbers are reported, but for now at least Warner Bros. has the No. 1 movie in the country. Including international showings, its running global earnings are at $64.8 million. But victory is a long way off for the $168 million production starring Anya Taylor-Joy and Chris Hemsworth. George Miller’s prequel stormed theaters riding on great reviews and was expected to have at least a slightly stronger debut. For Sony, the launch of the more modestly budgeted “The Garfield Movie” is a win even without the bragging rights of being in first place. The animated film featuring the voice of Chris Pratt is likely to have a long life at the box office the summer holiday beginning for school age children. With its early international release, “The Garfield Movie” has already earned over $91.1 million against its $60 million production budget. But this weekend has also been a sobering one for Hollywood as one of the worst Memorial Day weekend box office showings in decades, excluding 2020 when theaters were closed. Ticket sales are down 22% from 2023 and the gap may just get bigger as the summer goes on. Remember, at this point last year “Barbenheimer” hadn’t even happened. Estimated ticket sales for Friday through Monday at U.S. and Canadian theaters, according to Comscore. Final domestic figures will be released Tuesday. 1. “Furiosa: A Mad Max Saga,” $32 million. 2. “The Garfield Movie,” $31.1 million. 3. “IF,” $21 million. 4. “Kingdom of the Planet of the Apes,” $17.2 million. 5. “The Fall Guy,” $7.7 million. 6. “The Strangers: Chapter 1,” $6.9 million. 7. “Sight,” $3.6 million. 8. “Challengers,” $1.8 million. 9. “Back to Black,” $1.4 million. 10. “Babes,” $1.2 million.
Retailers roll out summer deals for inflation-weary consumers. Here's where. 2024-05-27 16:32:00+00:00 - Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather. Major retailers are stepping up discounts heading into the summer months, hoping to entice inflation-weary shoppers into opening their wallets. Target, Walmart and other chains have rolled out price cuts — some permanent, others temporary — with the stated aim of giving their customers some relief. The reductions, which mostly involve groceries, are getting introduced as inflation showed its first sign of easing this year but not enough for consumers who are struggling to pay for basic necessities as well as rent and car insurance. The latest quarterly earnings reported by retailers Walmart, Macy's and Ralph Lauren showed consumers have continued to spend at their stores. However, multiple CEOs, including the heads of McDonald's, Starbucks and home improvement retailer Home Depot, have observed a decline in sales as people are becoming more price-conscious and choosy. A January poll by consulting firm Revenue Management Solutions found that about 25% of people who make under $50,000 were cutting back on fast food, pointing to cost as a concern. "Retailers recognize that unless they pull out some stops on pricing, they are going to have difficulty holding on to the customers they got," Neil Saunders, managing director of consulting and data analysis firm GlobalData, said. "The consumer really has had enough of inflation, and they're starting to take action in terms of where they shop, how they shop, the amount they buy." For now, companies appear to be looking toward rewards points programs, discounts and mobile apps in an effort to keep customers loyal. But McDonald's CEO Chris Kempczinski acknowledged the impact of rising prices last month in an earnings call. "Consumers continue to be even more discriminating with every dollar that they spend as they face elevated prices in their day-to-day spending, which is putting pressure on the industry," Kempczinski said. "[I]t's imperative that we continue to keep affordability at the forefront for our customers." Home Depot's sales continued to soften in the first quarter as Americans are pulling back on large home remodeling projects, like bathrooms and kitchens, and that is hitting Home Depot, said Saunders. Sales at the nation's largest home improvement retailer slipped 2.3% to $36.42 billion for the period ended April 28, just shy of the $36.65 billion that analysts polled by Zacks Investment Research expected. It was the third consecutive quarter of declining sales for the retailers, which saw sales skyrocket during the pandemic. "Overall, Home Depot remains a formidable business. The current challenges are all caused by a period of churn in the consumer economy rather than by any missteps the company has made. Even so, we think the year ahead will be one of continued reset," he said. Price war taking hold While discounts are an everyday tool in retail, Saunders said these price cuts mark the first big "price war" since inflation started taking hold. Higher-income shoppers looking to save money have helped Walmart maintain strong sales in recent quarters. But earlier this month, the nation's largest retailer expanded its price rollbacks — temporary discounts that can last a few months — to nearly 7,000 grocery items, a 45% increase. Items include a 28-ounce can of Bush's baked beans marked down to $2.22, from $2.48, and a 24-pack of 12-ounce Diet Coke priced at $12.78 from $14.28. Company executives said the Bentonville, Arkansas-based retailer is seeing evidence that more people are eating at home versus eating out. Walmart believes its discounts will help the business over the remainder of the year. "We're going to lead on price, and we're going to manage our (profit) margins, and we're going to be the Walmart that we've always been," CEO Doug McMillon told analysts earlier this month. Not to be outdone by its closest competitor, Target last week cut prices on 1,500 items and said it planned to make price cuts on another 3,500 this summer. The initiative primarily applies to food, beverage and essential household items. For example, Clorox scented wipes that previously cost $5.79 are on shelves for $4.99. Huggies Baby Wipes, which were priced at $1.19, now cost 99 cents. Low-cost supermarket chain Aldi said earlier this month that it was cutting prices on 250 products, including favorites for barbecues and picnics, as part of a promotion set to last through Labor Day. Fast-food promos McDonald's plans to introduce a limited-time $5 meal deal in the U.S. next month to counter slowing sales and customers' frustration with high prices. Burger King recently announced it is planning to offer its own $5 value promotion ahead of McDonald's. Other fast-food chains offering new promos include Wendy's, which recently announced a new breakfast combo of potatoes plus an egg sandwich for $3. Arko Corp., a large operator of convenience stores in rural areas and small towns, is launching its most aggressive deals in terms of their depth in roughly 20 years for both members of its free loyalty program and other customers, according to Arie Kotler, the company's chairman, president and CEO. For example, members of Arko's free loyalty program who buy two 12-packs of Pepsi beverages get a free pizza. The promotions kicked off May 15 and are due to end September 3. Kotler said he focused on essential items that people use to feed their families after observing that the cumulative effects of higher gas prices and inflation in other areas had customers hold back compared to a year ago. "Over the past two quarters, we have seen the trend of consumers cutting back, consumers coming less often, and consumers reducing their purchases," he said. Other retailers In the non-food category, crafts chain Michaels last month reduced prices of frequently purchased items like paint, markers and artist canvases. The price reductions ranged from 15% to up to 40%. Michaels said the cuts are intended to be permanent. Many retailers said their goal was to offer some relief for shoppers. But Michaels said its new discounts brought prices for some things down to where they were in 2019. "Our intention with these cuts is to ensure we're delivering value to the customer," The Michaels Companies said. "We see it as an investment in customer loyalty more than anything else." Target said it was difficult to compare what its price-reduced products cost now to a specific time frame since inflation levels are different for each item and the reductions varied by item. The retailer this month said it's slashing prices on 5,000 different items, as consumers feel pressure to maximize their budgets. Discounted goods include fruit, milk, meat, peanut butter, pet food, paper towels and more. Food prices soar The Bureau of Labor Statistics, which tracks consumer prices, said the average price of a two-liter bottle of soda in April was $2.27. That compares with $1.53 in the same month five years ago. A pound of white bread cost an average of $2 last month but $1.29 in April 2019. One pound of ground chuck that averaged $5.28 in April cost $3.91 five years ago. U.S. consumer confidence deteriorated for the third straight month in April as Americans continued to fret about their short-term financial futures, according to the latest report released late last month from the Conference Board, a business research group. With shoppers focusing more on bargains, particularly online, retailers are trying to get customers back to their stores. Target this month posted its fourth consecutive quarterly decline in comparable sales — those from stores or digital channels operating at least 12 months..
Russia will build Central Asia’s first nuclear power plant in an agreement with Uzbekistan 2024-05-27 16:15:52+00:00 - MOSCOW (AP) — Russia and Uzbekistan signed an accord Monday for Moscow to build a small nuclear power plant in the Central Asian country, as Russian President Vladimir Putin held talks in the Uzbek capital with Uzbekistan leader Shavkat Mirziyoyev. Mirziyoyev hailed the project as “vital” in remarks after the talks, noting that Uzbekistan has “its own large reserves of uranium.” Putin, in turn, vowed to “do everything in order to work effectively on Uzbekistan’s (nuclear energy) market.” If the agreement is implemented, the plant would become the first in Central Asia, further increasing Russia’s influence in the region. Russia’s state news agency RIA Novosti quoted the Russian state-owned energy corporation, Rosatom, as saying that the project envisions building six reactors with the total capacity of 330 megawatts. According to Russian media, the two countries were earlier discussing building a nuclear power plant of a larger capacity — of 2.4 gigawatts. Putin also promised to increase gas deliveries to Uzbekistan. The talks between Putin and Mirziyoyev took place in the Uzbek capital, Tashkent, where the Russian leader traveled on Sunday in his third foreign trip since being inaugurated for a fifth presidential term earlier this month. He first went to China, where he expressed appreciation for China’s proposals for talks to end the Ukraine conflict, and later to Belarus where Russia has deployed tactical nuclear weapons. The trips reflect the Kremlin’s ongoing effort to shore up support amid unabating tensions with the West over the conflict in Ukraine.
World’s longest-serving flight attendant dies aged 88: ‘Fly high, Bette’ 2024-05-27 16:09:00+00:00 - Bette Nash, the world’s longest-serving flight attendant, has died aged 88 after nearly 67 years of working in the skies. Nash began flying with the now-defunct Eastern Airlines in 1957 and primarily worked the shuttle flight between Washington DC and Boston so she could be home every night to care for her son, ABC reported. It was the romance and glamor of flying that initially attracted Nash to the job. “I wanted to be a flight attendant from the time I got on the first airplane – I was 16 years old,” she told CNN. “The pilot and the flight attendant walked across the hall and I thought ‘Oh my God,’ and I said that was for me.” At the start of her career, “you had to be a certain height, you had to be a certain weight. It used to be horrible,” she told WJLA. “You put on a few pounds and you had to keep weighing yourself, and then if you stayed that way, they would take ya off the payroll!” In 2022, Nash was honored with the Guinness World Record title for longest-serving flight attendant. She never officially retired from her role with American Airlines and died on 17 May in hospice care after a recent breast cancer diagnosis, according to ABC. “We mourn the passing of Bette Nash, who spent nearly seven decades warmly caring for our customers in the air,” American Airlines said in a statement on social media. “She started in 1957 and held the Guinness World Record for longest-serving flight attendant. Bette inspired generations of flight attendants. Fly high, Bette.” Nash “touched many with her warmth, dedication, and service”, the Association of Professional Flight Attendants (APFA), the union representing American Airlines flight attendants, said in its statement. “RIP, Bette. You won’t be forgotten.”
7 tips for developing digital balance, from happiness experts: 'Find that happy medium where technology is working for you' 2024-05-27 15:56:00+00:00 - Digital devices provide unlimited access to so many things, and it can be both a gift and a curse. Smartphones and laptops help us to stay connected to our loved ones through phone calls and video conferencing, Laurie Santos, a psychology professor who teaches Yale's most popular class ever, said in a recent podcast episode of "The Happiness Lab." At the same time, "research shows that our screens and apps and devices are making us less social, less present and even less happy," Santos added. During the episode, Santos spoke to Amy Blankson, a happiness expert and co-founder of the Digital Wellness Institute, about ways that people can achieve a better balance when using digital devices. Here are a few of the tips that Blankson shared.
Elon Musk’s xAI raises $6bn in bid to take on OpenAI 2024-05-27 15:50:00+00:00 - Elon Musk’s artificial intelligence company xAI has closed a $6bn (£4.7bn) investment round that will make it among the best-funded challengers to OpenAI. The startup is only a year old, but it has rapidly built its own large language model (LLM), the technology underpinning many of the recent advances in generative artificial intelligence capable of creating human-like text, pictures, video, and voices. The funding round, one of the biggest yet in the burgeoning AI field, values the company at $18bn before taking into account the $6bn investment, Musk said on X, the social network he owns. Generative AI has so far proven very expensive to develop, in part because of the need for huge amounts of computing power and energy to train LLMs. In a blogpost, xAI said: “The funds from the round will be used to take xAI’s first products to market, build advanced infrastructure, and accelerate the research and development of future technologies.” Musk relied upon several of the investors who have backed his other ventures, including the electric car company Tesla, and the takeover of the social network Twitter, which he renamed X. They included the venture capital investors Andreessen Horowitz, Sequoia Capital and Fidelity Management & Research Company, and Kingdom Holding, a Saudi investor run by Prince Alwaleed bin Talal, a member of the Saudi royal family. The rise in investor interest in AI was kicked off by OpenAI, which used an LLM to create the chatbot ChatGPT. Musk was a co-founder of OpenAI, but in March he filed a suit against OpenAI, alleging that Sam Altman and other executives had “breached the founding agreement” of the company by pursuing private commercial success instead of working to benefit humanity. OpenAI, which is working closely with the US tech company Microsoft, is facing competition from Google’s Gemini, Meta’s Llama and other startups such as the Amazon-backed Anthropic and France’s Mistral. On Monday Musk reposted xAI’s announcement on X, and wrote that the company has a “mission of understanding the universe, which requires maximally rigorous pursuit of the truth, without regard to popularity or political correctness”.