Top FTX exec gets 7.5-year prison sentence
CEO North America
by CEO Admin
23h ago
Ryan Salame, formerly the head of FTX’s subsidiary in the Bahamas, was sentenced to seven and a half years in prison on Tuesday. He’s the first employee under founder Sam Bankman-Fried—who is serving a 25-year sentence for fraud and conspiracy—to get prison time. Salame, who will surrender himself on August 29, pleaded guilty in 2023 to violating a campaign finance law and a charge of operating an unlicensed money transmitting business. Three other senior executives from the collapsed cryptocurrency exchange have also pleaded guilty to crimes. Prosecutors in the case asked for a sentencing of ..read more
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T-Mobile spend $4.4B to acquire majority of U.S. Cellular
CEO North America
by CEO Admin
23h ago
In an effort to improve wireless connection in underserved, rural parts of America, T-Mobile announced that it will purchase almost all of U.S. Cellular’s operations, including its wireless customers, stores and about 30% of spectrum assets, in a $4.4 billion deal. Although U.S. Cellular will still own its towers, T-Mobile will lease space on at least 2,100 more towers. The deal, which is expected to close in mid-2025, will provide more coverage and capacity for both company’s customers, said Mike Sievert, T-Mobile CEO, in a statement. It’s hoped the consolidation will offer additional choices ..read more
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CEO: AI won’t take your creative job
CEO North America
by CEO Admin
23h ago
Despite the skyrocketing growth of artificial intelligence companies and tools, one CEO is certain: AI won’t take your job. That’s the opinion of Netflix CEO Ted Sarandos, who said in an interview with The New York Times that AI is a natural advancement of what’s already happening in the creative industry. He doesn’t believe that AI could write a better screenplay or replace an actor’s great performance. Instead, he predicts that “writers, directors, editors will use AI as a tool to do their jobs better and to do things more efficiently and more effectively.” In the interview, Sarandos also mu ..read more
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OpenAI launches safety and security team
CEO North America
by CEO Admin
23h ago
OpenAI, the developer of ChatGPT, said Tuesday that it has created a new safety and security committee headed by senior executives, including Sam Altman, after dissolving its prior oversight board earlier this month. The news comes on the heels of the announcement that OpenAI has begun training its “next frontier model.” The committee, which also includes board of directors members Bret Taylor, Adam D’Angelo and Nicole Seligman, will make recommendations to the board as a whole about “critical safety and security decisions for OpenAI projects and operations,” according to the company. During t ..read more
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Consumer confidence improves for the first time in four months
CEO North America
by CEO Admin
23h ago
After three straight months of decline, The Conference Board’s Consumer Confidence Index inched upward for the month, increasing to 102 compared with 97.5 in April. This is the first increase since January. The strong job market is partially responsible for the climb, said Chief Economist Dana Peterson in a release. Unemployment is currently under 4%, employers continue to create jobs, and the number of jobs available exceeds those who are unemployed and seeking work. Survey participants also feel optimistic about the stock market, with nearly half expecting stock prices to go up over the next ..read more
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UN weather org predicts busy hurricane season
CEO North America
by CEO Admin
2d ago
The 2024 hurricane season is going to be a busy one, said the World Meteorological Organization, while also emphasizing that early warnings for the storms are crucial to save lives. The U.S. National Oceanic and Atmosphere Administration expects between 17 to 25 named storms, with eight to 13 of those growing into hurricanes. The past eight years of the Atlantic hurricane season, running from June to November, has seen higher than average activity. “High ocean heat content and the anticipated development of La Nina event are expected to fuel a very, very, very active hurricane season this year ..read more
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Movies have worst Memorial Day weekend since 1995
CEO North America
by CEO Admin
2d ago
The U.S. box office for Memorial Day weekend is estimated to reach just $128.3 million, the lowest sales since $117.1 million in 1995. Last year’s Memorial Day box office hit just under $205 million, while the 2013 record, driven by “Fast & Furious 6,” reached $314.3 million. “There’s no way to sugarcoat it, the numbers that are coming out this weekend are nothing to write home about,” Paul Degarabedian, senior media analyst with Comscore, said in a CNN interview. The top movie, “Furiosa: A Mad Max Saga,” is expected to bring in $32 million in sales. Memorial Day typically heralds in a bus ..read more
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Musk’s AI startup now valued at $24B
CEO North America
by CEO Admin
2d ago
xAI, a startup from Tesla owner Elon Musk, reached a post-money valuation of $24 billion after raising $6 billion in series B funding. Investors in the company included Andreessen Horowitz, Saudi Prince Alwaleed Bin Talal and Sequoia Capital. Prior to the funding round, xAI’s pre-money valuation was $18, according to Musk, who founded the business in July 2023. “There will be more to announce in the coming weeks,” he said in an X post. The startup plans to use the money to bring its first products to market, as well as accelerate research and development of future technologies and build advanc ..read more
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Trump presidency would be ‘bearish’ for bond markets
CEO North America
by CEO Admin
2d ago
Donald Trump’s reelection would be the more “bearish” option for bond markets, bond investor Bill Gross told The Financial Times, and his second presidency would push deficits higher. Gross’s opinion goes against one of Trump’s key campaign points, which is that he is a better option for the U.S. economy and financial markets. “Trump is the more bearish of the candidates simply because his programs advocate continued tax cuts and more expensive things,” Gross explained. He added that Biden’s administration has spent more money than it’s accrued from taxes, but Trump’s second presidency would b ..read more
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Top food trends from the 2024 National Restaurant Show
CEO North America
by CEO Admin
6d ago
The National Restaurant Show returned to Chicago’s McCormick Place Convention Center from May 18 to 21, bringing the latest innovations and trends in food, drink, technology, sustainability and more. When it came to food trends, options ran the gamut from a bevy of Korean foods to culinary mashups such as cheeseburger ravioli. Hot honey has been on the scene for a while, but other forms of savory honeys were on display at the show, such as a Za’taar- and garlic-spiked honey from Grlk Savory Honey. Cherry-flavored food items, such as cherry-aki ketchup from Kraft-Heinz and a cherry-rose coffee ..read more
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