From TradeBriefs <[email protected]>
Subject Warren Buffett Sells More BofA Shares, Reaping $982 Million - Aug 28, 2024
Date August 28, 2024 2:17 PM
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The top 25 stories curated by editors and fellow readers!

Editor's Pick

When Money Is Abundant, Knowledge Is The Real Wealth LessWrong
[[link removed]}&lead=419599&emailid=56018&nl=daily and
large, the President of the United States can order people to do
things, and they will do those things. POTUS is often considered the
most powerful person in the world. And yet, the president cannot order
a virus to stop replicating. The president cannot order GDP to
increase. The president cannot order world peace.

Are there orders the president could give which would result in world
peace, or increasing GDP, or the end of a virus? Probably, yes. Any of
these could likely even be done with relatively little opportunity
cost. Yet no president in history has known which orders will
efficiently achieve these objectives. There are probably some people
in the world who know which orders would efficiently increase GDP, but
the president cannot distinguish them from the millions of people who
claim to know (and may even believe it themselves) but are wrong.

Continued here
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"TradeBriefs has become my go-to source for international business
news. The quality and depth of coverage are unparalleled."
- Rajiv Menon, Global Operations Manager, SynchroTech, Singapore

Work

Warren Buffett Sells More BofA Shares, Reaping $982 Million
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The string of sales signals Buffett’s biggest pullback from an
investment that long served as a stamp of approval on the leadership
of Bank of America Chief Executive Officer Brian Moynihan, whom the
93-year-old investor has repeatedly praised in public.

Work

The Simple Algorithm That Ants Use to Build Bridges | Quanta Magazine
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Army ants form colonies of millions yet have no permanent home. They
march through the jungle each night in search of new foraging ground.
Along the way they perform logistical feats that would make a
four-star general proud, including building bridges with their own
bodies.















Work

Kamala Harris and Tim Walz are finally doing a sit-down interview -
Business Insider (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
It's been a long time coming. Harris first announced her candidacy for
president 37 days ago, after President Joe Biden withdrew from the
race. Since then, she has not done any formal interviews with
journalists and has only answered a few questions in gaggles with
reporters.

Work

Inside 8 innovative technology projects on Wall Street, from
Blackstone to Goldman Sachs - Business Insider (No paywall)
[[link removed]}&lead=419599&emailid=56018&nl=daily]
In investment banking, private equity, and trading, Wall Street firms
are using technology to better assess risk and make more informed
decisions faster. Business Insider spoke with eight of the world's
largest financial institutions to get a peek at exactly how.














Work

The unofficial Nvidia earnings watch party at an NYC bar is the latest
sign the AI hype isn't going anywhere - Business Insider (No paywall)
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The idea started when Lauren Balik, owner of Upright Analytics and
co-host of the Tech Bros Show, sent out some feelers on X about
renting a bar space to play the earnings call and the subsequent
financial commentary.

Work

Juan Izquierdo, Uruguayan footballer, dies aged 27 after collapsing on
pitch
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The 27-year-old had been undergoing medical treatment since he
collapsed during the second leg of a Copa Libertadores round of 16 tie
against Sao Paulo at Brazil’s Morumbi stadium on 22 August.














Work

New Password Hacking Warning For Gmail, Facebook And Amazon Users -
Forbes (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
New threat analysis from researchers at Kaspersky has revealed a
dramatic rise in the number of password-stealing attacks targeting
Amazon, Facebook and, most of all, Google users. Here’s what you
need to know.

Work

Ikea aims to compete with eBay with launch of secondhand online
marketplace - Business Insider (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
"This has been a dream in the making for a while," Jesper Brodin,
chief executive of Ingka, the main operator of Ikea stores, told FT.
"We are in a place in Ikea where we can do more advanced and cool
stuff. There is an incredible confidence in the company evolving on
digital."














Work

Amount of cannabis seized at UK airports triples in less than a year
Officials at the National Crime Agency (NCA) say overproduction of the
drug in countries where it has been legalised – and the chance of
bigger profits in the UK market – may be behind the rise.

Work

Ukraine shoots down Russian Su-25 jet in MANPADS strike
[[link removed]}&lead=419599&emailid=56018&nl=daily]
"Ukrainian warriors from the 28th Mechanized Brigade shot down a
Russian Su-25 plane in the Kramatorsk direction. Bravo!" Ukraine's
Ministry of Defense said in a statement posted to social media.














Work

How the healing powers of botany can reduce anxiety and boost health -
New Scientist (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
We all know that being in nature is good for our health and mental
well-being. But how does it work its magic? For example, what explains
the finding that, following gall bladder surgery, people who could see
a verdant scene from their hospital window recovered three times
faster and needed far less pain medication than those who only looked
out over a brick wall?

Work

Google now uses AI to moderate internal town halls. Some employees say
it lets leaders dodge tougher questions. - Business Insider (No
paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
Google has started using AI this year to process and summarize
questions asked by staff at its monthly town halls, known as TGIF
(Thank God It's Friday). The tool often softens tough questions and
removes some elements, letting leaders avoid more pointed questions in
an open forum, according to some employees, whose identities Business
Insider confirmed and who asked to remain anonymous because they were
not permitted to talk to the press.














Work

Why Is Space So Cold? It Has To Do With Kinetic Energy - Discover
Magazine (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
Judging only by the blistering summer sun, you’d be forgiven for
assuming that space is a hothouse. But despite the tremendous energy
pouring out of trillions and trillions of stars, our universe is
surprisingly arctic.

Work

Small Businesses Seek FTC Help With Fake Reviews Problem - Inc.com (No
paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
But fake reviews and testimonials have been a persistent problem for
small businesses, many of whom rely on recommendations for business.
Fake reviews can make it harder for people to trust what they read
online and ultimately hurt businesses. In addition, small businesses
can find themselves targeted by bad actors who leave negative reviews.














Work

4 Warning Signs of Ethical Burnout on Your Team - Harvard Business
Review (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
High stress at work can destabilize people’s ethical compass,
putting them at heightened risk of ethical lapses. When employees
focus solely on achieving their targets, deadlines, or personal
financial goals at the expense of ethical considerations — when
doing the right thing feels burdensome compared to seemingly
less-costly shortcuts — they can teeter on “ethical burnout.” To
prevent this, it’s crucial to spot the signs and root out the
contributing forces early. The authors present four warning signs that
your employees may be heading toward ethical burnout — and
strategies to counteract these forces before it’s too late.

Work

UnitedHealth pledged a hands-off approach after buying a Connecticut
medical group. Then it upended how doctors practice - STAT (No
paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
Take our money, the company said, and together we can bring about a
future where primary care leads. A future where doctors can take
better care of their patients, and reap the financial rewards of
improved health. We’ll handle the business side while you look after
your patients.













Work

Israeli Minister Calls For Gaza-Like Action In West Bank As IDF
Conducts Major Raid - Forbes (No paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
Israeli Foreign Minister Israel Katz called for expanded military
operations in the West Bank as the country’s forces conducted a
series of major raids and air strikes in the occupied territory on
Wednesday, which the Palestinian authorities say have resulted in at
least nine deaths so far.

Work

SpaceX's risky mission will go farther into space than we've been in
50 years
[[link removed]}&lead=419599&emailid=56018&nl=daily]
SpaceX plans to send four people into Earth orbit as soon as Wednesday
in a daring mission that will test new technology, expose astronauts
to high levels of radiation, and potentially change how future
spacewalks are conducted.

Work

Klarna: AI lets us cut thousands of jobs - but pay more
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Klarna - which is based in Sweden, and has two UK offices - disclosed
its job-cutting plans as it announced interim results which showed it
increased its revenue by 27% to 13.3 billion Swedish krona (£990
million).

Work

Last Crusade of Mexico's President: A Drastic Redesign of the
Judiciary
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Thousands of judges and court workers around the country have gone on
strike in protest, and the U.S. ambassador last week called Mr. López
Obrador’s push in the final weeks of his six-year term “a major
risk to the functioning of Mexico’s democracy,” provoking a
diplomatic spat between the two nations over the wisdom of the
proposals, and whether the United States should be weighing in at all.

Work

Did You Even Go to the U.S. Open if You Didn't Get a Hat?
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Each hat costs $40, a steep price for fans who may also be balancing
the cost of tickets and the tournament’s other marquee accessory,
the $23 Honey Deuce cocktail. But many consider the bragging rights
worth it: More than 200,000 U.S. Open hats are expected to be sold
this year, said Mary Ryan, the senior director of merchandise and
licensing for the United States Tennis Association.

Work

Biden ordered Gaza pier to be built despite concerns from US
development agency
[[link removed]}&lead=419599&emailid=56018&nl=daily]
A US official said the USAid staffer concerns about the project
undercutting overall aid efforts were raised early in the process.
USAid responded by adding enough staffing for the agency to address
both the pier and the land routes simultaneously, said the official,
who spoke on condition of anonymity because they were not authorised
to publicly discuss the matter.

Work

India's VerSe buys Valueleaf to boost digital marketing | TechCrunch
[[link removed]}&lead=419599&emailid=56018&nl=daily]
VerSe’s revenue grew by 57% to $130 million in the financial year
2023, with its burn reduced by 34% to $172 million from $261 million
in 2022. Without disclosing the latest numbers, Bedi said the startup
saw a “massive double-digit growth on the top line, and burn has
come down more than half to triple-digit crores” last year.

Work

Warren Buffett Has More Money Invested in This Than He Does Apple,
AmEx, Bank of America, Coke, Chevron, and Oxy Combined
[[link removed]}&lead=419599&emailid=56018&nl=daily]
American Express is an advertising partner of The Ascent, a Motley
Fool company. Bank of America is an advertising partner of The Ascent,
a Motley Fool company. Keith Speights has positions in Apple, Bank of
America, Berkshire Hathaway, and Chevron. The Motley Fool has
positions in and recommends Apple, Bank of America, Berkshire
Hathaway, and Chevron. The Motley Fool recommends Occidental
Petroleum. The Motley Fool has a disclosure policy.

Work

The Election-Interference Merry-Go-Round - The New Yorker (No paywall)
[[link removed]}&lead=419599&emailid=56018&nl=daily]
In October, 2020, Bob Ferguson, the attorney general of Washington
State, launched an initiative to combat “election interference.” A
press release noted Donald Trump’s repeated claims that the coming
election would be “rigged” against him, leading many of
Ferguson’s constituents to fear that the result was being
delegitimized in advance. In response, Ferguson pledged to defend
“the longstanding American tradition of a peaceful transition of
power.”

Work

The Dark Side of Our Houseplant Obsession - Scientific American (No
paywall) [[link removed]}&lead=419599&emailid=56018&nl=daily]
Rachel Feltman: Houseplants are definitely having a moment. But why
are we suddenly so obsessed with bringing leaves and vines inside, and
how is the surge in plant parenthood impacting the environment?

Work

How popular are Project 2025's proposals? We asked Americans
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The Heritage Foundation's Project 2025, a 900-page document of
proposed policies for a future Republican administration, has drawn
headlines and controversies for its radical ideas to reshape the
federal government.

Work

What If Ultra-Processed Foods Aren't as Bad as You Think?
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Jessica Wilson is passionate about the pupusas from Costco. Not just
because they’re tasty, but also because they’ve helped the
California-based registered dietitian fight back against the mounting
war on ultra-processed foods.

Work

This Artificial Intelligence (AI) Chip Stock Has Stepped on the Gas,
and It Could Fly Higher After Aug. 29
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Stock Advisor provides investors with an easy-to-follow blueprint for
success, including guidance on building a portfolio, regular updates
from analysts, and two new stock picks each month. The Stock
Advisor service has more than quadrupled the return of S&P 500 since
2002*.

Work

People are really regretting how much money they spent over the last
year
[[link removed]}&lead=419599&emailid=56018&nl=daily]
McBride advises those worried about saving enough to try to
automatically transfer more money from their paychecks each time they
receive one. “Saving for retirement and emergencies can be automated
through payroll deduction, direct deposit, and automatic transfers,”
he said. “Start modestly and after a couple of pay periods you
won’t miss what you don’t see.”

Work

Man posing as YouTube star jailed for global sextortion plot
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Many of the children being extorted told him they were suicidal - one
even sent images of self-harm. But Rasheed continued his blackmail
despite their "obvious distress" and "extreme fear", the judge said,
according to the ABC.

Work

'People are right to be angry', says water boss
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Mr Henderson rejected the idea that the amount of money paid out in
dividends to investors in recent years was part of the reason there
was not enough money for companies to invest, rather than just bills
being lower.

Work

Pensioners braced for 'really difficult' winter
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Ms Flint said that while the war in Ukraine and the Covid pandemic had
"obscured the lack of material progress" being made in fuel poverty
reduction, the committee had hoped more progress would have been made
on its 2023 recommendations.

Work

Ryanair boss calls for two-drink limit at airports to tackle disorder
[[link removed]}&lead=419599&emailid=56018&nl=daily]

Work

The Gruffalo's Child to go on commemorative Royal Mint 50p coin
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The Royal Mint, which is one of Britain’s oldest companies and the
original maker of UK coins, has previously featured hugely popular
children's characters on its coins, including Paddington, The Snowman,
and Beatrix Potter favourites.

Work

Owners catalogue snagging on Bellway homes in Cambridgeshire
[[link removed]}&lead=419599&emailid=56018&nl=daily]
While many hazards have been fixed, there are still cracked or
overgrown pathways, a flooded drainage basin, and metal pipes or
electrical wires protruding into the recently completed children’s
play area.

Work

Solar or food production? Somerset farmers locked into debate
[[link removed]}&lead=419599&emailid=56018&nl=daily]
He explained: "In a phenomenal year you might hope for four tonnes of
wheat per acre, which would give you a gross revenue of £600-£800 an
acre, depending on the price. So after costs, you might make £200 an
acre profit."

Work

Africa's Debt Crisis Has 'Catastrophic Implications' for the World
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Outsize debt has been a familiar problem in the developing world, but
the current crisis is considered the worst yet because of the amounts
owed as well as the huge increase in the number and type of foreign
creditors.

Work

Can Tech Executives Be Held Responsible for What Happens on Their
Platforms?
[[link removed]}&lead=419599&emailid=56018&nl=daily]
But the threshold for holding executives liable for what takes place
on their sites is lowering in specific areas, particularly child
safety, said TJ McIntyre⁩, an associate professor at University
College Dublin’s School of Law.

Work

How to Squeeze More Time Out of a Failing Phone Battery
[[link removed]}&lead=419599&emailid=56018&nl=daily]
When the feature is enabled, the battery icon turns yellow as the mode
reduces screen brightness, pauses some network activity (like online
photo backup) and limits app actions like mail-fetching, automatic
downloads and other battery burners. Processor speed may also be
reduced, and as a result, the phone may run slower.

Work

For His Second Trip to Space, Billionaire Has Grander, Riskier
Aspirations
[[link removed]}&lead=419599&emailid=56018&nl=daily]
“There’s always a risk calculus to it,” Mr. Isaacman said in an
interview a week and a half ago, before he and his three crewmates
headed to Florida for the launch. “But the real focus is on what we
stand to gain and learn from it. And in this case, we’ve got some
pretty cool things.”

Work

Treasury yields mixed as investors look ahead to U.S. inflation data
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Market participants are firmly pricing in a rate cut at the Fed's
Sept. 18 meeting. Traders are currently pricing in a roughly 63.5%
chance of a 25-basis-point rate cut next month, with 36.5% pricing in
a 50-basis-point rate cut, according to the CME Group's FedWatch Tool.

Work

With Hezbollah-Israel Conflict Contained, Iran's Next Move May Be
Modest
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Just a few weeks ago, the region was — once again — in an
extraordinarily precarious position, months after Israel launched its
deadly Gaza war in response to the Hamas-led Oct. 7 attacks.

Work

Federal Cases Against Trump Revived, and Israeli Forces Raid West Bank
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Alan Feuer covers extremism and political violence for The Times,
focusing on the criminal cases involving the Jan. 6 attack on the
Capitol and against former President Donald J. Trump.  More about
Alan Feuer

Work

All eyes are on Nvidia as it prepares to report its earnings. Here's
what to expect
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The Santa Clara, California-based company carved out an early lead in
AI applications race, in part because of founder and CEO Jensen
Huang's successful bet on the chip technology used to fuel the
industry. The company is no stranger to big bets. Nvidia’s invention
of the graphics processor unit, or GPU, in 1999 helped spark the
growth of the PC gaming market and redefined computer graphics.

Work

The For-Profit City That Might Come Crashing Down
[[link removed]}&lead=419599&emailid=56018&nl=daily]
A California company offers a Montessori education for approximately
60 students. Security is provided by a private firm of armed guards.
An arbitration center staffed by three retired Arizona judges handles
dispute resolution. (In order to enter the jurisdiction, I was told I
needed to sign an “agreement of coexistence” binding myself to
4,202 pages of rules, violations of which would be subject to the
jurisdictional authority of the arbitration center.)

Work

Opinion | Surgeon General: Helping Stressed-Out Parents Should Be an
Urgent Priority
[[link removed]}&lead=419599&emailid=56018&nl=daily]
All of this is compounded by an intensifying culture of comparison,
often amplified online, that promotes unrealistic expectations of what
parents must do. Chasing these expectations while trying to wade
through an endless stream of parenting advice has left many families
feeling exhausted, burned out and perpetually behind.

Work

Opinion | 'That's What I Would Have Liked, to Live in a Wild Sea'
[[link removed]}&lead=419599&emailid=56018&nl=daily]
The Times is committed to publishing a diversity of letters to the
editor. We’d like to hear what you think about this or any of our
articles. Here are some tips. And here's our email:
[email protected].

Work

Opinion | Kamala Harris and Tim Walz Are Road-Tripping Through
Georgia. Could They Actually Win There?
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Michelle Cottle writes about national politics for Opinion and is a
host of the podcast “Matter of Opinion.” She has covered
Washington and politics since the Clinton administration.  @mcottle

Work

Opinion | Boeing's No Good, Never-Ending Tailspin Might Take NASA With
It
[[link removed]}&lead=419599&emailid=56018&nl=daily]
Consider the fact that on Aug. 7, Steve Stich, the manager for
NASA’s commercial crew program, used the term “multiple failure”
to describe the possible concerns he and his team were contemplating
about the spacecraft’s propulsion system.

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