Atotium News - Business Aggregate - 2024-11-22

November 23, 2024 at 5:29 AM UTC

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Title: Nvidia beats earnings expectations as investors eye demand for Blackwell AI chips
URL: https://apnews.com/article/nvidia-ai-earnings-report-adc942aa0e0c5d1a550b7bad486b942a
Summary: Nvidia has reported a significant increase in its third-quarter profit and sales, with revenue reaching $35.08 billion, driven by sustained demand for its AI-specific computer chips. Earnings were $19.31 billion, surpassing Wall Street expectations. However, Nvidia's stock dipped slightly despite a strong quarterly performance. The company anticipates fourth-quarter revenue to reach approximately $37.5 billion, reflecting continued growth expectations. Analysts are focused on Nvidia's Blackwell graphics processor, a next-generation AI chip expected to experience demand exceeding supply for several quarters. Nvidia is widely recognized as a leader in AI technology, with substantial market value and plans to meet surging Blackwell demand. The company's stock has seen significant appreciation, supporting its status as a prominent figure in the AI revolution.

Title: 'I have no money': Thousands of Americans see their savings vanish in Synapse fintech crisis
URL: https://www.cnbc.com/amp/2024/11/22/synapse-bankruptcy-thousands-of-americans-see-their-savings-vanish.html
Summary: The article outlines a financial crisis involving Synapse, a company acting as an intermediary between fintech startups and small banks like Evolve Bank. Synapse's bankruptcy led to the disappearance of up to $96 million in customer funds, affecting thousands of Americans who trusted fintech solutions for their banking needs. Customers believed their funds were FDIC-insured through Synapse's bank partners but are now finding discrepancies in their accounts, with some unable to recover their savings. Efforts to locate the missing funds are stalled due to lack of coordination among the banks involved and insufficient resources to conduct a full reconciliation. Affected individuals, including members of a group called Fight For Our Funds, are advocating for regulatory action. However, financial regulators like the FDIC and Federal Reserve have yet to offer assistance, and the recovery process is mired in legal and organizational challenges

Title: Your Junk Is Needed for the New Electric Era
URL: https://www.wsj.com/finance/commodities-futures/your-junk-is-needed-for-the-new-electric-era-504a7e8f
Summary: The demand for copper is soaring as the world shifts towards renewable energy and digital technologies. To meet this demand, mining companies like Glencore are increasingly turning to recycled sources, mining old electronics, vehicles, and other scrap. With copper being infinitely recyclable, scrap offers a crucial resource to balance supply and demand in the market. Glencore and other companies are investing heavily to expand North American recycling facilities, aiming to nearly double the proportion of recycled copper by 2050. The process involves collecting and processing scrap, ensuring it's fit for recycling into fresh copper slabs to fuel the electric and data age.

Title: Why Robinhood is spending $300 million to buy a wealth management platform
URL: https://finance.yahoo.com/news/why-robinhood-spending-300-million-154859907.html
Summary: Robinhood, known for catering to millennial and Gen Z investors, is acquiring TradePMR, a wealth management platform for registered investment advisors, for $300 million. This move aims to address the evolving investment needs of its aging user base by providing fiduciary financial advice through a referral network with TradePMR's advisors. The acquisition is strategic in light of an expected $84 trillion wealth transfer over the coming decades, positioning Robinhood to compete with firms like Charles Schwab by offering comprehensive financial services. This deal is anticipated to close in the first half of 2025, pending regulatory approval.

Title: Deficit Threat Drives Bond Yields Higher
URL: https://www.wsj.com/finance/investing/deficit-threat-drives-bond-yields-higher-6a043d44
Summary: The expectation of a rising federal budget deficit is pushing bond yields higher as investors prepare for a worsening fiscal situation post-election. A recent $69 billion auction of 2-year Treasury notes saw weak demand, contributing to a broader bond market selloff. The situation is exacerbated by the prospect of increased deficits, particularly if Republicans control the White House and Congress, which could lead to tax cuts. Analysts predict that the fiscal year 2025 deficit could hit $2 trillion. The Treasury is expected to maintain large debt sales, with potential increases in 2025, amid ongoing debates about borrowing strategies and their market impact

Title: Xcel Energy unveils $45B capital plan as data center pipeline nears 9 GW
URL: https://finance.yahoo.com/news/xcel-energy-unveils-45b-capital-090000617.html
Summary: Xcel Energy announced a $45 billion capital investment plan over the next five years, focusing on clean energy, customer electrification, load growth, and reliability. This investment includes significant upgrades to transmission and distribution systems, scheduled to claim 63% of the total funding. While data centers contribute to half of Xcel's expected sales growth, other growth areas include the electrification of oil and gas production and electric vehicle adoption. Xcel anticipates completing only 25% of its data center projects soon, reflecting a broader industry challenge to expand transmission and generation infrastructure rapidly. This plan does not cover an additional $10 billion in potential investments or the recently announced large-scale projects in the Upper Midwest and Colorado. Xcel aims to lower electricity costs for customers by efficiently integrating large energy consumers like data centers and EVs into its system.

Title: Amazon reports boost in quarterly profits, exceeds revenue estimates as it invests in AI
URL: https://financialpost.com/pmn/amazon-reports-boost-in-quarterly-profits-exceeds-revenue-estimates-as-it-invests-in-ai
Summary: Amazon announced a significant increase in quarterly profits, surpassing revenue expectations with $158.9 billion in revenue, compared to the anticipated $157.28 billion. The company's net income for the quarter ending September 30 was $15.3 billion, above the $12.21 billion predicted by analysts. Boosted by robust sales from its Prime Day event, Amazonu2019s core online retail business contributed $61.41 billion in revenue. Additionally, Amazon Web Services grew by 19%, aligning with Amazonu2019s increased investment in AI and technological infrastructure. These outcomes follow Amazon's previous quarter where it missed revenue estimates. The tech giant is investing extensively in AI, nuclear energy, and partnerships, despite facing regulatory scrutiny. For the upcoming fourth quarter, Amazon forecasts revenues between $181.5 billion and $188.5 billion, preparing optimistically for the holiday shopping season.

Title: Techstars revives Boulder accelerator, with a twist
URL: https://www.bizjournals.com/denver/news/2024/10/29/techstars-boulder-accelerator-program-founders.html
Summary: Techstars has announced the revival of its Boulder accelerator program under a new initiative called Techstars Colorado, eight months after moving its headquarters to New York City. CEO David Cohen, along with Techstars veterans Nicole Glaros and Natty Zola, aims to create a community-centric accelerator that combines local ownership with access to global resources. The program, expected to launch as early as this summer, will focus on strengthening Colorado's startup ecosystem, with a managing partner soon to be appointed and a search underway for a physical location to host the hub. This marks a return to Techstars' roots, which began in Boulder in 2007

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Atotium News - Business Aggregate - 2024-11-17Title: Bosses Are Calling Workers Back to the Office. That’s Good News for Landlords. URL: https://www.wsj.com/real-estate/commercial/back-to-office-workers-landlords-e5e15663 Summary: Companies are increasingly requiring employees to return to the office, reversing the trend of remote work during the pandemic. As a result, the office market is showing signs of stabilization, with investor interest growing in office properties, especially those with amenities. Despite the challenges of high vacancy rates and obsolete spaces, the amount of occupied office space remains steady. Some companies, like Amazon and Dell, are mandating five-day office attendance, shifting power back to managers as the white-collar workforce growth slows. The stabilization, however, doesn't equate to a full recovery due to ongoing defaults and expected space reductions when leases mature. Yet, certain markets are thriving with expansion from financial and AI firms. Enhanced office amenities are drawing employees back, boosting investor confidence and leading to significant financing deals, notably the refinancing of Rockefeller Center by Tishman Speyer. Title: Deficit Threat Drives Bond Yields Higher URL: https://www.wsj.com/finance/investing/deficit-threat-drives-bond-yields-higher-6a043d44 Summary: The article discusses how concerns over a rising federal budget deficit are causing a significant increase in bond yields, especially following a recent lackluster auction of government bonds. Investors anticipate sustained high deficits regardless of the upcoming election outcome, though they expect the deficit to expand most under a Republican victory due to potential tax cuts. The Treasury Department is likely to maintain its high level of debt sales, with potential for further increases. As longer-term Treasury yields rise in reaction to increased bond supply fears, analysts are watching upcoming Treasury borrowing announcements for signals on future auction plans. The fiscal year 2025 deficit projection stands near $2 trillion, with election results potentially affecting future fiscal conditions. Title: Your Billy Bookcase Should Have Multiple Lives, Says IKEA Sustainability Chief URL: https://www.wsj.com/articles/your-billy-bookcase-should-have-multiple-lives-says-ikea-sustainability-chief-f30b24e8 Summary: IKEA's sustainability efforts, led by Ingka Group's Chief Sustainability Officer Karen Pflug, focus on achieving net-zero emissions by 2050 without carbon offsets. A key initiative is the testing of Ikea Preowned, a platform in Madrid and Oslo for buying and selling secondhand IKEA furniture, which they hope to expand globally. The company aims to use renewable or recycled materials across its products while promoting circularity, encouraging customers to extend product lifecycles. Efforts include the provision of spare parts and a peer-to-peer marketplace, reflecting IKEA's commitment to sustainability without compromising product quality. Title: Used EVs Sell for Bargain Prices Now, Putting Owners and Dealers in a Bind URL: https://www.wsj.com/business/autos/used-evs-sell-for-bargain-prices-now-putting-owners-and-dealers-in-a-bind-a44e1718 Summary: The value of used electric vehicles (EVs) has dropped significantly, contrasting with the stable broader used-car market. This decline follows price cuts on new EVs, particularly led by Tesla, aimed at boosting sales but negatively impacting used EV values. Previously, in-demand models like the Tesla Model 3 and Model Y have seen a 25% price drop. Factors contributing to this dip include the influx of off-loaded Teslas from rental company Hertz and competitive lease deals on new models. The plummeting prices present challenges for current owners who find themselves owing more than their cars are worth and potential long-term concerns for the industry as leasing rises sharply. Title: Retail giant buys properties near DIA for $91M URL: https://www.bizjournals.com/denver/news/2024/09/30/amazon-aurora-porteos-dia-ambrose-property-group.html Summary: Amazon has acquired a warehouse and additional land in Aurora, Colorado, near Denver International Airport, for over $91 million. The purchases include a 625,000-square-foot building within a larger industrial development known as DIA Logistics Park, and a separate parcel of vacant land. These acquisitions expand Amazon's footprint in the region, benefitting from a location that already hosts several of the company's facilities. Title: The US retirement system gets a C+ in global study URL: https://finance.yahoo.com/news/the-us-retirement-system-gets-a-c-in-global-study-230119976.html Summary: The US retirement system received a C+ in the 16th annual Mercer CFA Institute Global Pension Index, placing 29th out of 48 countries. The evaluation highlighted concerns regarding pension funding and insufficient private retirement savings, exacerbated by declining birth rates and increasing life expectancy. The US scored a C+ for adequacy and Cs for sustainability and integrity. The report suggests incorporating automatic enrollment and contribution escalation to improve the system, taking cues from countries like the Netherlands, which have successful retirement systems. The Secure 2.0 Act, which mandates automatic enrollment and escalation for new retirement plans starting in 2025, could help address some of these issues.

Atotium News - Business Aggregate - 2024-11-18Title: 401(k) Managed Accounts Are an Underutilized Resource URL: https://www.aaii.com/journal/article/233462-401k-managed-accounts-are-an-underutilized-resource Summary: A study conducted by Cerulli Associates, sponsored by Edelman Financial Engines, reveals the benefits and underutilization of 401(k) managed accounts among retirement plan participants. The study found that participants in managed account programs are nearly three times more confident in their retirement investing strategy. Despite these benefits, only 8% of participants use managed accounts, with a majority unable to correctly define them. The researchers suggest that improved communication and framing these accounts as employee benefits, along with promoting human advisor interactions, could increase adoption rates and enhance the financial well-being of 401(k) participants. Title: Using Bond Ladders and Income Annuities for Retirement Income URL: https://www.aaii.com/journal/article/13928-using-bond-ladders-and-income-annuities-for-retirement-income Summary: The article by Aaron Brask discusses two financial tools—bond ladders and income annuities—that retirees can use to generate stable cash flows and manage risks associated with retirement. It critiques the conventional total-return investing strategy, emphasizing that fixed-income investments like bonds can offer less risky, stable cash flows when held to maturity. Bond ladders are recommended for their simplicity and passive income features, while income annuities are highlighted for their ability to pool longevity risks across individuals, thereby enabling more efficient retirement funding. The article also addresses misconceptions around annuities, detailing their competitiveness and benefits in securing guaranteed lifetime income. Overall, both tools provide retirees with options to structure effective retirement income strategies while minimizing market volatility and actuarial risks. Title: So You Have Decided to Buy Bonds. Here Are Six Charts Showing Your Options. URL: https://www.wsj.com/finance/investing/so-you-have-decided-to-buy-bonds-here-are-six-charts-showing-your-options-d55078fa Summary: The article explores various options for investors considering bonds in the current economic climate. With Treasury bonds becoming more expensive and offering limited potential for capital gains, shifting strategies is advised. Long-term Treasurys have historically delivered better returns during easing cycles, despite risks of price fluctuations. For those looking into corporate debt, although investment-grade bonds offer marginal spreads over Treasurys, opportunities exist, particularly in consumer noncyclical sectors with higher yields. CLOs, mortgage-backed securities, and emerging-market debt present additional options, each with unique risk profiles and benefits. Additionally, dividend-paying equities can serve as a bond proxy, blending income with a level of risk more akin to bonds, a strategy that has delivered competitive returns historically even amid market volatility post-pandemic. Title: IBM Releases AI Models for Businesses URL: https://finance.yahoo.com/news/ibm-releases-ai-models-businesses-040820671.html Summary: IBM unveiled its latest "Granite 3.0" AI models, designed for business use, aiming to tap into the growing market for generative AI technology. By offering these models as open-source, IBM stands apart from competitors like Microsoft which charge for model access. IBM provides a paid service called Watsonx to help businesses run customized models in their data centers. Some Granite models are available for commercial use on Watsonx and Nvidia's software tools. The models were developed using Nvidia's H100 GPUs. Title: Angel Investing Isn't What It Used to Be URL: https://www.wsj.com/articles/angel-investing-isnt-what-it-used-to-be-e643c862 Summary: This article discusses how the landscape of angel investing has changed over the years, primarily due to the increased involvement of venture capital firms at early stages of investments. Angel investing, once a domain for individual investors supporting nascent startups, is now less appealing as venture firms, tech giants, and new entrants like hedge funds compete heavily in this space. This competition has driven up valuations and round sizes, making it tough for angels to secure prime deals. The value of angel deals in the U.S. has sharply decreased over recent years. Many angels are becoming limited partners in venture funds to diversify, while those with strong credentials and network connections still find opportunities. The rise of accelerator programs has also shifted the dynamics, offering startups institutional capital that diminishes their reliance on angel investors. Title: Treasuries Plunge Like It's 1995 as Traders See Soft Landing URL: https://finance.yahoo.com/news/treasuries-plunge-1995-traders-see-154428389.html Summary: The US Treasury market is experiencing its biggest selloff since 1995, as two-year yields have increased by 34 basis points following the Federal Reserve's first rate cut since 2020. This trend reflects a reduced probability of recession and strong economic data, prompting speculation that the Fed might slow its pace of rate cuts. Rising yields are influenced by the resilient US economy and financial markets' impact on the Fed's rate-cutting options. Additionally, market volatility and political concerns about potential Republican control of the government further contribute to rising yields. The market activity mirrors a similar situation in 1995 when then-Fed Chair Alan Greenspan achieved an economic soft landing.

Atotium News - Business Aggregate - 2024-12-09Dividend Stocks Are Primed for a Comeback in 2025 https://www.wsj.com/finance/stocks/dividend-stocks-2025-payoff-1d0a4521 With tech stocks becoming expensive and bonds less appealing due to falling interest rates, investors are eyeing dividend-paying stocks for potential returns in 2025. Companies like JPMorgan Chase and Merck may perform well next year, fueled by the stability and steady earnings they offer. Despite a widening performance gap between the S&P 500 and dividend stocks this year, some analysts predict a dividend comeback, bolstered by expectations of a 10% increase in dividends by S&P 500 companies in 2025. Even tech giants like Meta Platforms and Alphabet are now offering dividends. While some big dividend payers have lagged due to rising interest rates, renewed interest in these stocks comes as companies begin returning cash to shareholders. Analysts suggest that evolving economic policies and investor demand for cash may further enhance the appeal of dividend stocks. Chipmaker Marvell is now more valuable than Intel amid AI boom https://www.techspot.com/news/105879-small-chipmaker-marvell-now-more-valuable-than-intel.html Marvell Technology, a chipmaker based in Santa Clara, California, recently saw its market capitalization surge to $98.22 billion, surpassing Intel's $90.23 billion, driven by strong Q3 results and an optimistic outlook for Q4. The company's revenue for Q3 2025 rose 7% year-over-year to $1.52 billion, fueled by high demand from the AI sector. Marvell's product range includes semiconductor solutions for computing, networking, security, and storage, with a focus on data centers and cloud operators. In contrast, Intel faces challenges with its CEO Pat Gelsinger's resignation, a stock price drop of nearly 70% from its peak, staff layoffs, and losing its spot in the Dow Jones Industrial Average to Nvidia. Russell 2000's strong November could bode well for future gains https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-hold-just-shy-of-record-highs/card/russell-2000-s-strong-november-could-bode-well-for-future-gains-du9Xhvk6BrAafKlVyOGF The Russell 2000 index experienced a significant rise in November, seeing an increase of about 10.8%. Historical trends suggest that when the index achieves a monthly gain of 10% or more, it typically continues to perform well over the following six months and year. Investment analyst Bret Kenwell highlighted that favorable statistics, alongside robust U.S. economic conditions, decreasing interest rates, and solid earnings growth, all contribute to a positive outlook for small-cap stocks. Additionally, recent increases in 10-year Treasury yields have not significantly impacted small-cap investor sentiment. Google Fiber opens Colorado headquarters in Lakewood https://coloradocommunitymedia.com/2024/12/04/google-fiber-opens-colorado-headquarters-in-lakewood/#:~:text=Google%20Fiber%20recently%20opened%20its,metro%20area%2C%20state%20and%20region. Google Fiber has opened its Colorado headquarters in Lakewood s Belmar Plaza, enhancing the city's digital and economic development. This office will manage the installation and operation of Google Fiber s network across the metro area, state, and region. Lakewood Mayor Wendi Strom highlighted the economic benefits and job creation this move brings, aligning with the city s goal to be a desirable place to live and work. Alberto Garcia, Google Fiber s community affairs manager, expressed excitement about settling in Lakewood, the first city in Colorado to receive the Google Fiber network. The headquarters features Colorado-themed decor and contributes to the tech landscape in Denver. After a 2019 voter-approved measure allowed the city to offer telecommunications services, Lakewood partnered with Google Fiber in 2022, with the first neighborhood receiving service in September 2024. The expansion continues as additional neighborhoods are connected. Google Fiber aims to provide high-speed internet access, which Mayor Strom believes will encourage economic growth by improving connectivity.

Atotium News - Business Aggregate - 2024-12-10Federal Reserve to cut rates by 25 bps on Dec. 18, pause in January- Reuters poll https://finance.yahoo.com/news/federal-cut-rates-25-bps-135054884.html The U.S. Federal Reserve is expected to cut interest rates by 25 basis points on December 18, with 90% of economists polled by Reuters predicting this move. Following this, a pause in rate changes is anticipated in late January amidst concerns over rising inflation risks. Economists attribute potential inflationary pressures to President-elect Donald Trump's proposed policies, including import tariffs and tax cuts. The job market's resilience has reinforced expectations for a rate cut, with most economists forecasting the federal funds rate to be reduced to 4.25%-4.50%. However, a majority expect the Fed to hold rates steady at its January meeting. While nearly 60% of economists predict at least three more rate cuts next year, there is no consensus on future actions. The Fed aims to reach a neutral rate that neither stimulates nor restricts the economy, recently assessed at around 2.9%. Inflation forecasts have been elevated, with concerns about inflation risks due to increased tariffs and potential trade disruptions from the incoming administration. The Fed will update its economic forecasts at the December meeting. GM exits robotaxi market, will bring Cruise operations in house https://www.cnbc.com/2024/12/10/gm-halts-funding-of-robotaxi-development-by-cruise.html General Motors (GM) has decided to end its funding for the development of robotaxis by its subsidiary Cruise. Instead, GM plans to integrate Cruise into its larger technical team to focus on developing autonomous systems for personal vehicles. This decision, announced after an investment of over $10 billion in Cruise, is attributed to the competitive robotaxi market, capital allocation priorities, and the extensive time and resources required to scale up. GM bought Cruise in 2016 and plans to increase its ownership to over 97% by early 2025. This move will also reduce Cruise's annual expenditure from about $2 billion by more than half. Cruise, which halted its driverless operations in October 2023, faced regulatory issues including a crash involving a pedestrian and internal problems that contributed to the decision. GM's departure from the robotaxi market occurs as competitors like Waymo, Tesla, and others advance their own autonomous vehicle services. Microsoft Unveils Zero-Water Data Centers to Reduce AI Climate Impact https://finance.yahoo.com/news/microsoft-unveils-zero-water-data-170002064.html Microsoft has introduced a new data center design that requires zero water for cooling its chips and servers, aimed at reducing the climate impact of its expanding data center operations. This new system employs a "closed loop" method, recycling water that is initially introduced during construction without needing fresh supplies afterward. This initiative, launched in August, is expected to save over 125 million liters of water per year per data center. While the data centers will still need fresh water for facilities like bathrooms and kitchens, this new design is part of Microsoft s effort to address the environmental demands of its growing AI services, particularly in hot and dry regions such as Arizona and Texas. Existing data centers will maintain older technologies, but new facilities in Phoenix and Mount Pleasant, Wisconsin, will adopt this zero-water design starting in 2026. Crypto Trading Frenzy Leads Analyst to Hike Price Targets for Coinbase, Robinhood Stock https://www.barrons.com/articles/crypto-coinbase-robinhood-stock-price-target-71f031b2 The article discusses a recent surge in crypto trading activity, prompting an analyst from Needham & Co., John Todaro, to raise price targets for Coinbase and Robinhood. Despite previous muted trading volumes, both platforms are experiencing increased activity. Todaro increased his target for Coinbase to $420 and for Robinhood to $52, while maintaining a Buy rating. The appointment of Donald Trump and his regulatory policy changes favoring the crypto industry are seen as beneficial for these companies. SEC leadership changes and Trump's pro-crypto stance are expected to promote new products and trading on these platforms, with Robinhood aiming to be a leader in crypto and options trading by 2027 and equities by 2029. Bitcoin has reached record highs, motivating a resurgence in trading activity after a period of relative quiet.

Atotium News - Business Aggregate - 2024-12-03Title: How Amazon Aims to Feed Whole Foods\u2019 Growth With Mini City Stores URL: https://www.inc.com/bruce-crumley/how-amazon-aims-to-feed-whole-foods-growth-with-mini-city-stores/91034239 Summary: Amazon is expanding Whole Foods by introducing small format Daily Shop locations in urban neighborhoods to cater to metropolitan consumers who prefer convenient, quick shopping for fresh produce and prepared meals. These smaller stores are easier and cheaper to set up and operate, serving a previously unmet need for local, frequent shopping. With reduced costs and higher quality offerings, Amazon is attempting to attract affluent customers who might otherwise shop at larger, more distant grocery stores. Concurrently, the strategy reflects a broader retail trend as companies like Walmart and Publix also experiment with smaller urban stores. Despite the hurdles faced by similar past ventures, early success in NYC and plans for new locations signal potential growth in this model. Title: GM to sell its stake in Michigan battery plant to LG Energy Solution URL: https://www.reuters.com/markets/deals/gm-sell-its-stake-michigan-battery-plant-lg-energy-solution-2024-12-02/ Summary: General Motors (GM) has announced plans to sell its stake in a joint venture battery plant in Lansing, Michigan, to its partner LG Energy Solution, as part of a strategy to streamline its electric vehicle initiatives. Despite this sale, GM retains its stake in the Ultium Cells joint venture for battery plants in Ohio and Tennessee. The Lansing plant, nearing completion and with about 100 employees, will cater to a new, undisclosed customer. This move comes amid broader uncertainties in the EV sector, including potential changes to consumer tax credits under the upcoming administration. GM is reassessing its EV production plans, having adjusted forecasts and delayed production schedules due to market conditions. Concurrently, GM is extending its battery technology collaboration with LG Energy Solution and has entered a new agreement with Samsung SDI to build a prismatic cell factory in Indiana, aiming to reduce EV costs and weight. Title: Private-Equity Funds Are Taking Out Loans They Don\u2019t Really Need URL: https://www.wsj.com/finance/investing/private-equity-funds-are-taking-out-loans-they-dont-really-need-3a390290?st=H1gLRH Summary: Private-equity funds have increasingly turned to net asset value (NAV) loans, borrowing against their portfolios as interest rates rise and asset sales become challenging. These loans have grown significantly, raising concerns about debt levels and potential conflicts of interest. While NAV loans can support portfolio companies, they may also enable general partners to send returns to investors prematurely, boosting short-term performance at the risk of overall portfolio stability. Critics argue that borrowing practices could disadvantage end-investors, and there is a call for greater transparency and caution as the private equity sector adapts to using NAV loans. Title: Proposed law aims to help Americans save more for retirement\u2014but could end up hurting Gen Z, millennial workers URL: https://www.cnbc.com/amp/2024/11/26/retirement-savings-for-americans-act-what-it-would-mean-for-young-people.html Summary: The Retirement Savings for Americans Act (RSAA), a bipartisan proposal introduced in 2023, aims to create a federal workplace retirement account for workers, offering automatic enrollment and tax advantages. While intended to improve retirement saving access, the plan could reduce long-term wealth for Gen Z and millennial workers by lowering contribution rates compared to current private workplace plans. Research from Morningstar suggests many might forgo personal IRA contributions if defaulted into the federal plan, potentially decreasing retirement savings by up to 12% for millennials and 20% for Gen Z. Automation and proactive contribution increases are recommended strategies to counteract potential savings inertia.

Atotium News - Business Aggregate - 2024-12-02Accolade Partners Continues its Leadership in Blockchain Investing, Closes its Third Blockchain Focused Fund of Funds https://www.accoladepartners.com/press-release-11202024 Summary: Accolade Partners has closed its third blockchain-focused fund of funds, Accolade Blockchain III, with $202 million in total commitments. The firm, an early leader in blockchain investments, manages $1.3 billion in blockchain-focused assets. This latest fund aims to support seed and early-stage blockchain managers, along with investments in secondary opportunities and GP stakes. Founded in 2000, Accolade manages $6.1 billion across venture capital, private equity, and blockchain strategies, and is known for its active role in sourcing and enhancing promising investment funds. Accolade's continued commitment to blockchain investment underscores its long-standing position as an industry thought leader. Citi Successfully Completes Separation of Consumer, Small and Middle Market Businesses from Institutional Business in Mexico https://www.citigroup.com/global/news/press-release/2024/citi-completes-separation-consumer-smb-mexico-institutional-business Summary: Citi has successfully separated its institutional banking business in Mexico from its consumer, small, and middle-market businesses, establishing two separate financial entities: Grupo Financiero Citi M xico and Grupo Financiero Banamex. This move is part of Citi's broader strategy to streamline its operations. Grupo Financiero Citi M xico will focus on institutional clients, while Grupo Financiero Banamex will concentrate on retail banking and related services. This separation positions both groups for growth and allows Citi to progress toward a planned IPO for Grupo Financiero Banamex, enhancing shareholder value. The bank continues its strategy of exiting consumer banking in various global markets as part of its simplification efforts. These Bricks-and-Mortar Stores Thrive in an Online World https://www.wsj.com/business/retail/these-bricks-and-mortar-stores-thrive-in-an-online-world-2d666308 Summary: Despite the growth of online shopping, many bricks-and-mortar stores are thriving by offering unique in-store experiences and blending their physical presence with online capabilities. Retailers like T.J. Maxx create a 'treasure hunt' atmosphere, attracting value-conscious customers across different income levels, while companies like PetSmart integrate physical stores into their delivery logistics, using them as fulfillment centers. Retailers have recognized the need to integrate the online and offline shopping experience to attract and retain customers, leading to resilient retail operations despite online competition. As e-commerce continues to grow, its penetration is expected to plateau, with physical stores remaining a key component of a competitive retail strategy. Are Old People The Only Ones Using Google? https://boomcycle.com/blog/only-old-people-use-google/ Summary: The article explores the misconception that only older generations use Google, highlighting how Google remains the dominant search engine across all age groups. Younger users increasingly opt for visually-oriented platforms like TikTok and Instagram for searches, while older users are more engaged with Google due to increasing digital literacy. Search behaviors vary by age, with Gen Z favoring longer queries and mobile devices, while older adults lean towards focused searches and voice search. Social media's role in product discovery is significant, challenging traditional search engines. Visual search and mobile optimization are growing trends among younger users. YouTube's dominance in video search results emphasizes Google's broad reach, despite the rise of platforms like TikTok and Instagram. Bing and alternative search engines like DuckDuckGo cater to privacy-conscious users. Overall, while Google's demographics may be aging slightly, it continues to adapt and maintain relevance across generations.

Atotium News - Business Aggregate - 2024-12-10 ExtraWall Street's Complex Debt Bonanza Hits Fastest Pace Since 2007 https://www.ft.com/content/5219f962-3499-4928-8c73-5610b7a0109e Investor demand for high returns has propelled Wall Street's structured finance transactions to $380 billion this year, a 20% increase from the previous year. This surge includes products backed by unconventional assets like chicken wing revenues and music catalogs. While the market's size is considered too small to pose systemic risks, some experts express concerns about potential inadequate risk assessment. Goldman Sachs Sees More Larger-Scale Strategic Deals in 2025 https://www.reuters.com/markets/us/goldman-sachs-sees-more-larger-scale-strategic-deals-2025-2024-12-10/ Goldman Sachs anticipates an increase in large-scale strategic mergers and acquisitions in 2025, driven by heightened CEO confidence and intensified client discussions. The bank has solidified its leading role in global M&A rankings, advising on significant deals such as Kellanova's approximately $36 billion acquisition by Mars. A surge in private equity buyouts is also expected, potentially facilitated by reduced regulatory burdens post-elections. Nvidia's Stock Dips After China Opens Probe of the AI Chip Company for Violating Anti-Monopoly Laws https://apnews.com/article/bf2dfae0a2f6a83a64b46239f86a4173 Nvidia's stock declined by 2.6% following China's announcement of an antitrust investigation related to its 2019 acquisition of Mellanox. Despite a 180% surge in shares this year due to AI demand, Nvidia faces regulatory scrutiny in both China and the U.S. China accounts for about 16% of Nvidia's revenue, and the company has expressed willingness to cooperate with regulators. SoFi's Stock Doubled Over Three Months. Here's Why BofA Says It's Now Overvalued. https://www.marketwatch.com/story/sofis-stock-doubled-over-three-months-heres-why-bofa-says-its-now-overvalued-60eb096d SoFi Technologies Inc.'s stock has doubled in price over the past three months. However, BofA analyst Mihir Bhatia considers the stock overvalued, downgrading it from neutral to underperform with a price target of $12. Bhatia notes that SoFi's current trading values are high compared to peers, and expresses concerns about the company's technology segment's fair-value accounting and delayed revenue visibility.

Atotium News - Business Aggregate - 2024-12-04BlackRock to Acquire HPS Investment Partners to Deliver Integrated Solutions Across Public and Private Markets https://ir.blackrock.com/news-and-events/press-releases/press-releases-details/2024/BlackRock-to-Acquire-HPS-Investment-Partners-to-Deliver-Integrated-Solutions-Across-Public-and-Private-Markets/default.aspx Summary: BlackRock has announced its plan to acquire HPS Investment Partners for approximately $12 billion, with the transaction to be paid entirely in BlackRock equity. This acquisition aims to strengthen BlackRock's capabilities in providing integrated solutions across both public and private markets, enhancing their private credit offerings alongside their existing public fixed income business. The deal will create a new private financing solutions business unit, broadening BlackRock's capabilities in senior and junior credit solutions, asset-based finance, real estate, private placements, and CLOs. Expected to close in mid-2025, the transaction will increase BlackRocku2019s private markets fee-paying AUM and management fees significantly and is set to be accretive to earnings. The acquisition positions BlackRock to better serve its clients' needs, offering complex financing solutions to clients ranging from small businesses to large corporations, with a focus on sustainable growth and job creation. Amazon Is Building a Mega AI Supercomputer With Anthropic https://www.wired.com/story/amazon-reinvent-anthropic-supercomputer/ Summary: Amazon is collaborating with Anthropic to build one of the world's largest AI supercomputers. The new system, featuring Amazon's latest AI training chip, Trainium 2, is expected to surpass current capabilities significantly. This development, part of Amazon Web Services' (AWS) project Rainer, underscores Amazon's growing role in generative AI, competing with major players like Nvidia, Microsoft, and Google. New AWS clusters are introduced, offering cost efficiency over Nvidia's GPUs. Amazon is also advancing its AI chip technology, with Trainium 3 set to offer four times the performance of the current chip by 2025. At its Re:Invent conference, Amazon revealed tools to enhance AI model capabilities and introduced new services, such as Model Distillation and Bedrock Agents, which optimize smaller models and manage AI agents for various tasks. Additionally, Amazon unveiled an Automated Reasoning tool to ensure AI outputs are accurate, especially crucial for sectors like insurance. This tool uses logical reasoning for verifying AI-generated statements, extending its potential use across various industries. Going Freelance in 2024 u2014 What You Need to Know https://www.kiplinger.com/personal-finance/freelancing/going-freelance-what-you-need-to-know Summary: The article discusses the growing trend of freelancing in 2024, highlighting the increasing impact of remote freelance work on the U.S. economy. A significant portion of the workforce prefers flexible work arrangements, such as full-time remote or hybrid models. The article outlines the top ten growing career fields for remote freelancers, including bilingual, graphic design, and social media roles, as well as the top companies hiring freelancers like TELUS and Robert Half International. It also provides insights into the most in-demand job titles, the benefits of freelancing, and practical steps for finding freelance work, such as networking and building a personal brand. What Social Security Beneficiaries Should Know About 2025 Numbers https://www.kiplinger.com/retirement/social-security/what-social-security-beneficiaries-should-know-about-2025-numbers Summary: Social Security beneficiaries are set to receive a modest 2.5% cost-of-living adjustment in 2025, increasing the average monthly benefit to $1,976. This is the smallest increase since 2020, reflecting lower inflation rates. High-income workers will see a rise in the taxable income threshold for Social Security taxes to $176,100, while retirees who work will be able to earn more before benefits are reduced. The Social Security Administration is addressing issues like long wait times due to staff shortages. Beneficiaries are encouraged to create an online account at the Social Security website for easier access to benefits information and to check for potential errors in their earnings records.

Atotium News - Business Aggregate - 2024-12-06CFOs On the Move: Week ending Dec. 6 https://www.cfo.com/news/cfos-on-the-move-week-dec-6-Lanny-Baker-Etsy-Anu-Subramanian-Bumble-Jeff-Davis-Dollar-Tree/734762/#:~:text=Etsy%20hires%20an%20Eventbrite%20leader,chief%20financial%20officer%20to%20resign. Summary: Lanny Baker is appointed CFO of Etsy, succeeding Rachel Glaser, who will stay as an advisor until June 2025. Anu Subramanian, Bumble's CFO, will leave for a new opportunity in March 2025. Dollar Tree's CFO, Jeff Davis, will step down by the end of fiscal 2024. Macrina Kgil joins Figure Technology Solutions as CFO, with a background in real estate and blockchain finance. Celeste Mellet will become the CFO of Humana in January 2025, succeeding Susan Diamond, who will remain in an advisory role. Samara Strycker is promoted to CFO at International Motors. Tom Panther will leave Corpay to become CFO of the National Christian Foundation in March 2025. Jeremy Schiller returns to Carnival Cruise Line as CFO, replacing Jim Heaney. Anduril Partners with OpenAI to Advance U.S. Artificial Intelligence Leadership and Protect U.S. and Allied Forces https://www.anduril.com/article/anduril-partners-with-openai-to-advance-u-s-artificial-intelligence-leadership-and-protect-u-s/ Summary: Anduril Industries and OpenAI have entered a strategic partnership to enhance U.S. defense capabilities through advanced artificial intelligence (AI) solutions aimed at national security missions. By combining OpenAI s AI models with Anduril s defense systems, the collaboration seeks to improve counter-unmanned aircraft systems (CUAS) to handle aerial threats in real-time, thereby protecting U.S. and allied forces. This partnership is seen as crucial amidst the ongoing AI race with China, aiming to maintain U.S. technological leadership in defense. The focus will be on responsibly deploying AI to aid military decision-making without compromising safety and ethics. The AI industry is obsessed with Chatbot Arena, but it might not be the best benchmark https://techcrunch.com/2024/09/05/the-ai-industry-is-obsessed-with-chatbot-arena-but-it-might-not-be-the-best-benchmark/ Summary: Chatbot Arena, maintained by the nonprofit LMSYS, has become a popular benchmark in the AI industry for evaluating generative models. Despite its popularity, there are concerns about its effectiveness as a true benchmark. The platform allows users to compare AI model responses and ranks them based on human preference, collecting data from a user base that might not be representative. Critics argue that Chatbot Arena's results are biased due to user preferences, lack of model testing transparency, and the potential influence from LMSYS's commercial ties. While Chatbot Arena offers dynamic insights into model performance, it is considered more of a tool for gauging user satisfaction than a rigorous scientific benchmark. Experts recommend that LMSYS implement more systematic benchmarking for comprehensive evaluation. Chicago Wants to Build the Silicon Valley of Quantum Computing https://www.wsj.com/articles/chicago-wants-to-build-the-silicon-valley-of-quantum-computing-8da25981 Summary: Chicago is positioning itself as a hub for quantum computing innovation, aiming to establish the Illinois Quantum and Microelectronics Park on a historic site. Led by PsiQuantum, with state incentives and investments from local governments, this initiative seeks to leverage existing regional research strengths to break the pattern of innovators moving out of the Midwest. By focusing resources on quantum computing, the region plans to fill gaps that historically hindered local economic development. The project anticipates substantial economic impacts by hosting a center for developing quantum applications and engaging local institutions and supply-chain partners to foster growth and innovation in the quantum computing sector.

Simple Data Toolkit - Tutorial - Windows - Scheduled TaskLet's suppose you want to create a task that loads a Pipe Delimited File into a database on a daily basis. The task is to run on Windows and you are using Snowflake for the database. You can do it with SDTK as follows: 1) Download SDTK. For this tutorial, we're going to use the latest version of the Windows Shell Script version as of this writing (0.1.2) which is here: https://sourceforge.net/projects/simple-data-toolkit/files/0.1.3/stc-wsh.js/download 2) Create a new text file called ConvertPSV.cmd 3) Open the file with a text editor (like Notepad or Visual Studio Code) Enter the following text: cscript stc-wsh.js clients.psv clients.sql createorreplace clients (For more info on STC and SDTK see the following URL: https://www.vis-software.com/#sdtk) (For more info on cscript see the following URL: https://docs.microsoft.com/en-us/windows-server/administration/windows-commands/cscript) SET SNOWSQL_PWD=password snowsql -a myorganization-myaccount -u jsmith -f clients.sql -d database -s public -o quiet=true -o friendly=false (For more info on snowsql see the following URL: https://docs.snowflake.com/en/user-guide/snowsql-use.html) 4) Go to the Start Menu. 5) Search for Task Scheduler. (For more info on Task Scheduler see the following URL: https://docs.microsoft.com/en-us/windows/win32/taskschd/about-the-task-scheduler) 6) Open Task Scheduler. 7) Click Create Task. 8) For name enter: Convert PSV to SQL 9) Click Triggers Tab 10) Click New button 11) Select Daily 12) Start start time to 8:00 AM. 13) Click the OK button. 14) Click Actions tab. 15) Click New button 16) For Program/script click Browse. 17) Find the ConvertPSV.cmd script. 18) Click Open. 19) Set Start in to the directory that the ConvertPSV.cmd script is in. 20) Click the OK button. 21) Click the OK button. 22) To test, right click Convert PSV to SQL. 23) Select Run.

Simple Data Toolkit - Python - Loading Images Through ChatGPTSimple Data Toolkit provides an API for passing images to ChatGPT and extracting related text. (At the time of this writing, the release of this is pending for complete support, but it is coming soon) To generate a LaTeX document based on a series of images (effectively doing OCR) we can do the following:

from sdtk import com_sdtk_api_ChatGPTAPI
import os
import fnmatch
import re

texData = ""
texBegin = "\n\\begin{document}\n"
texEnd = "\n\\end{document}"
header = ""
footer = ""
foundBody = False

# Get a list of all .png files in the current directory
png_files = [file for file in os.listdir('.') if fnmatch.fnmatch(file, '*.png')]

def result(text):
    global texData
    global header
    global footer
    global foundBody

    text = text.replace("```latex", "").replace("```", "")
    body_match = re.search(r'\\begin{document}(.*?)\\end{document}', text, re.DOTALL)

    if body_match:
        body_content = body_match.group(1).strip()
        if len(texData) > 0:
            texData = texData + "\n" + "\\newpage" + "\n"
        else:
            header_match = re.search(r'^(.*?)\\begin{document}', text, re.DOTALL)
            header = header_match.group(1).strip()
            footer_match = re.search(r'\\end{document}(.*)$', text, re.DOTALL)
            footer = footer_match.group(1).strip()
            
        texData = texData + body_content
        foundBody = True
    else:
        foundBody = False
        print(text)

# Loop over each .png file
for file_name in png_files:
    foundBody = False
    while foundBody == False:
        com_sdtk_api_ChatGPTAPI.instance().query(result, "Can you generate a LaTeX document to represent the text in this image and format it correctly and return only the LaTeX code?", file_name)
        with open("output.tex", "w+") as file:
            # Write the string to the file
            file.write(header + texBegin + texData + texEnd + footer)

Simple Data Toolkit - Tutorial - Ortingo API - PythonAt the time of this writing, Ortingo does not have an official API. Fortunately, Simple Data Toolkit provides an unofficial API for reading posts (at the time of this writing, the release of this is pending for complete support, but it is coming soon) To retrieve all posts for a given user in Python, using Simple Data Toolkit, we can do the following:

from sdtk import com_sdtk_api_OrtingoAPI


def printer(data, reader):
    print(reader.toArrayOfNativeMaps(None))

com_sdtk_api_OrtingoAPI.postsAPI().retrieveData({"owner": "60CQ59FN46SVQFXJ"}, printer)

Let's suppose we want only a list of titles for a given user, we can do this instead:

from sdtk import com_sdtk_api_OrtingoAPI


def printer(data, reader):
    print(reader.filterColumnsOnly(["title"]).toArrayOfNativeMaps(None))

com_sdtk_api_OrtingoAPI.postsAPI().retrieveData({"owner": "60CQ59FN46SVQFXJ"}, printer)

We can also pull suggested content from Ortingo with the following, where the topics we are searching on are provided with the query parameter (in this case it's value is data):

from sdtk import com_sdtk_api_OrtingoAPI

def printerUrls(data, reader):
    print(reader.filterColumnsOnly(["url"]).toArrayOfNativeMaps(None))

com_sdtk_api_OrtingoAPI.suggestionsAPI().retrieveData({"query": "data"}, printerUrls)

And finally, we can also pull comments attached to a post in Ortingo with the following, where the user is myself and the post is a test post I created:

from sdtk import com_sdtk_api_OrtingoAPI

def printerComments(data, reader):
    print(reader.filterColumnsOnly(["commentDate", "post"]).toArrayOfNativeMaps(None))

com_sdtk_api_OrtingoAPI.commentsAPI().retrieveData({"owner": "60CQ59FN46SVQFXJ", "id": "test"}, printerComments)

The columns supported at the time of this writing are: - id - owner - title - subtitle - post - url For comments the following columns are supported: - id - owner - commentDate - replyTo - post

Atotium News - Business Aggregate - 2024-11-22

November 23, 2024 at 5:29 AM UTC

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