December 15, 2023

Markets Now 12/15

Bill Ackman took a Wall Street tactic to an Ivy League fight in his attempt to oust Harvard’s president

When Bill Ackman, a financier who got rich betting against companies’ stocks, decided to wage a battle against Harvard’s president, he relied on a strategy that earned him a reputation as one of the most ruthless investors on Wall Street.  
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Analysis: Wall Street is swept up in Fed euphoria. The rally could have more room to run

The Federal Reserve has kicked the stock rally into overdrive. Investors say that it could have more room to run.  
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Global coal demand set to fall as China embraces renewables

Global coal demand is likely to have peaked this year, and could drop by about 2% over the next three years as China brings more renewable energy sources online, the International Energy Agency said Friday.  
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Southwest CEO promises not to ruin the holidays with another travel meltdown

With millions of people expected to fly in the coming days, Southwest Airlines is vowing there won’t be a repeat of last year’s operational meltdown that ruined Christmas for travelers.  
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Building homes from discarded plastic

In Ethiopia, award-winning startup Kubik is turning hard-to-dispose-of plastic into sustainable building materials.  
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OpenAI’s newest problem: It’s now overseen exclusively seen by White men

Over the past year, OpenAI has cemented its place as one of the most powerful tech startups in the world. Its release of ChatGPT heralded an artificial intelligence revolution that sent shockwaves through nearly every industry, and the public remains both enamored and terrified by the possibilities it has unleashed.  
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Source: CNN Business

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