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[ad_1] Jes Staley conceded that it would have been easier not to have been friends with convicted paedophile Jeffrey Epstein. At no other time was that sentiment, expressed during the former Barclays boss’s cross-examination in a London courtroom in March, more true than on Thursday. The 68-year-old American found out that he had failed in his bid to overturn a lifetime ban imposed on him by the UK’s Financial Conduct Authority over his ties to Epstein, the dead financier and prolific sex offender. “The loss of his long-standing career is an inevitable consequence”, read the judgment of the Upper Tribunal, which…

[ad_1] Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is founder and editor of Footnoted.comWhen Lululemon held its annual general meeting earlier this month, there was a single shareholder proposal from a small group called Bowyer Research. questioning the Vancouver-based athleisure company’s devotion to various woke causes including the company’s Centre for Social Impact, which gives grants to various non-profits.According to Bowyer’s proposal filed in Lululemon’s proxy statement on April 29, the company provided grants to a campaign called “Don’t Ban Equality” which focuses on reproductive healthcare issues,…

[ad_1] This week, two major AI companies scored early wins in court, with federal judges siding with Meta and Anthropic in separate lawsuits over how their models were trained on copyrighted material. The decisions represent the first real legal validation of AI companies’ argument that training models on books, images, and other creative works can be considered “fair use” — even if those materials weren’t obtained with permission. It’s a big deal for companies building generative AI, and a potential turning point for the many lawsuits still in motion.  Today, on TechCrunch’s Equity podcast, hosts Max Zeff and Anthony Ha…

[ad_1] MrBeast, the world’s top YouTuber, is shutting down an AI thumbnail generator he released last week after receiving heavy criticism from the creator community.The feature allowed users to generate video thumbnails by mimicking aspects of existing video art, including swapping in faces and other modifications.”You’ve made something that can steal my (and my artists) hard work without a thought,” Twitch and YouTube streamer PointCrow (Eric Morino) wrote on X.Now, MrBeast is backpedaling. In a video posted Thursday, he said he’s killing the AI feature and instead directing users of his Viewstats platform to hire human designers.”I care more than…

[ad_1] Investors can suspend their focus on price to earnings and other multiples as the stock market rises to all-time highs, according to Dan Niles, founding partner of AlphaOne Capital Partners. “You kind of have to forget about valuations for now,” Niles said on CNBC’s “Squawk on the Street.” “Then we’re going to get to Thanksgiving, and I think things are going to hit a wall. But for right now, I’m really enjoying the ride.” Niles’ comments come as the S & P 500 rallied to a new record on Friday, the latest milestone in the stock market’s dramatic comeback…

[ad_1] As we reach the half-way point in the year, 2025 has seen the return-to-office push continue to expand.The effort started to pick up steam last year, when corporate giants like Amazon and AT&T announced at the end of 2024 that they would bring their employees back into the office five days a week this year. Sweetgreen, too, said in December that it’s upping support staff’s in-person requirement for 2025.Other major employers, including JPMorgan and Goldman Sachs, have also abandoned the hybrid attendance policy they adopted during the pandemic and instead implemented full return-to-office mandates.Several executives and leaders have said…

[ad_1] The Danish government is working to change copyright law to give its citizens the right to their own body, facial features, and voice. The landmark law is designed to strengthen protections against the creation and dissemination of deepfakes, reports The Guardian. Denmark’s department of culture still needs to submit a proposal to amend current law, but the agency has already secured cross-party support.  “In the bill we agree and are sending an unequivocal message that everybody has the right to their own body, their own voice and their own facial features, which is apparently not how the current law…

[ad_1] Long-term investors can find solid income in preferred securities, according to UBS. The assets, which have hybrid features of both stocks and bonds, have seen a muted performance so far this year, said Frank Sileo, senior fixed income strategist. Preferreds trade on exchanges like stocks, but also have par values and pay a stream of income. Similar to bonds, when the price of the preferred goes down, its yield moves higher. While spreads are tight, lack of competitive yield alternatives, banking sector fundamentals and supply-demand dynamics should remain supportive of the securities, Sileo said in a note Wednesday. Banks…

[ad_1] New York CNN  —  The Treasury Department and Congress on Thursday moved to kill a so-called revenge tax that was set to raise taxes on foreign investment and had spooked Wall Street and global business leaders. Treasury Secretary Scott Bessent on Thursday announced a deal with G7 partners that will exclude US companies from some global taxes in exchange for the US dropping Section 899 from Republican’s “One Big Beautiful Bill Act.” Bessent said in a post on X that he would ask Congress to remove Section 899 from the budget bill. Senator Mike Crapo and Rep. Jason Smith,…

[ad_1] CNN  —  President Donald Trump ceased trade talks with Canada and will soon announce a new tariff rate the country will have to pay, he said in a Truth Social post on Friday. The decision to end negotiations, which have been ongoing for several months, came after Canada announced a digital service tax, Trump said, calling it “a direct and blatant attack on our Country.” “Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately. We will let Canada know the Tariff that they will be paying to do business with the…