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Swedish Match employees package ZYN oral nicotine pouches at their Owensboro, Kentucky facility. (Photo: Business Wire) A recent op-ed published in the Sentinel attacked the city of Aurora over its recent economic development win with Philip Morris International, with a false byline asking, “Why is Denver receiving investment from tech companies, AI, healthcare and more, while Aurora is being given a nefarious industry?” The author is an executive director of the Foundation for Drug Policy Solutions and believes he knows a lot about the dangers of illegal drugs, but he has no expertise in economic development. Here are the facts:…

Wall Street bounced back on Friday after a tough week following some optimistic economic signals.The Dow Jones Industrial Average rose 654 points, or 1.6%, to close at 40,589, erasing a steep drop from two days earlier. The S&P 500 rose 1.1% to close at 5,459. The tech-heavy Nasdaq Composite Index rose 1% to close at 17,357.Analysts described the rally as a classic recovery market fueled by continued optimism about the state of the economy.All three indexes fell on Wednesday after several big technology companies reported disappointing earnings.But Jeffrey Roach, chief economist at LPL Financial, said investors now appear to be…

American Express Global Business Travel (NYSE: GBTG) has announced a significant refinancing of its credit facility. The new agreement includes a $1,400 million senior secured first lien term loan maturing in 2031 and a $360 million senior secured first lien revolving credit facility maturing in 2029. Key highlights include:- Interest rate margin reduction of ~180 bps- Estimated interest savings of ~$25 million in 2024- Extended term loan maturities to 2031- Increased revolving credit facility from $50 million to $360 million- Unchanged total debt level with focus on deleveragingThe refinancing strengthens Amex GBT’s balance sheet, provides…

Downward angle icon Downward angle icon. Josh Hartnett in Oppenheimer. Universal Josh Hartnett gained 30 pounds for his role in Oppenheimer. Co-star Matt Damon warned him it would be hard to lose the weight after filming wrapped. “He said, ‘You’ll never lose weight again,'” Hartnett recalled Damon telling him. Matt Damon knows a thing or two about the challenges of gaining and losing weight for a role. It’s a shame he didn’t warn co-star Josh Hartnett before deciding to gain 30 pounds to play famed physicist Ernest Lawrence in “Oppenheimer.” “He said, ‘You’ll never get that again,'” Hartnett recalled Damon…

Apple said Friday it would voluntarily implement safeguards for its artificial intelligence (AI), joining other big tech companies including Open AI, Amazon, Google parent Alphabet and Meta in following Biden administration guidelines aimed at minimizing national security risks. In July 2023, the Biden administration announced it had secured voluntary commitments from seven major AI companies that pledged to “help advance progress toward safety, security, and transparency” of AI technology. Amazon, Anthropik, Google, Inflexion, Meta, Microsoft, and OpenAI were the first seven companies to endorse the administration’s initiative. Apple CEO Tim Cook on the company’s campus in Cupertino, California, on June…

Downward angle icon Downward angle icon. Michael M. Santiago/Getty Images PepsiCo announced that it is two-thirds complete in overhauling its supply chain. The company has invested in AI and automation to make production and delivery more profitable. This article is part of “The Future of Supply Chain Management,” a series on corporate manufacturing and delivery strategies.Media not supported by AMP.Tap for a complete mobile experience.PepsiCo Chief Operating Officer Greg Rhoden, who has spent his entire 34-year career with the snack-food giant, said he has seen more change in the past three years than he had in the 31 years prior…

Mayor Eric Adams’ controversial plan to install gun-detection technology in New York’s struggling transit system is set to launch in lower Manhattan on Friday, The Washington Post has learned. The pilot program for Evolv weapons scanners, announced by the tech-loving mayor in March, will be operational at the Fulton Street station ahead of the evening commute, according to sources. A Post reporter saw workers setting up the extension cord-powered scanner, two iPads and a folding table at the transportation center around 3 p.m. Governor Adams has hinted since last week that passengers may soon see the detectors in Metro stations,…

Skift Take Maybe one day a computer-generated avatar will explain why you can’t fly business class to Dubai. Meanwhile, travel management and travel technology companies are testing how to apply Gen AI to different parts of business travel. Sean O’Neill The on-screen travel agent looked and sounded like a video game character, but asked and answered travel-booking questions at human-like speed. Zeno, a computational travel agent from technology company Serko, harnessed the power of generative artificial intelligence (AI) to recommend suitable hotels for an upcoming trip. I saw a demo of the live tool on Wednesday at the Global Business…

Key Takeaways According to a recent report from Deutsche Bank, the recent decline in tech stocks has coincided with a rise in utilities, healthcare and consumer staples, an echo of the dot-com bubble of 2000. Uncertainty over the U.S. election and monetary policy could continue to weigh on tech stocks in the coming months, according to one analyst. Despite the dot-com bubble bursting, tech investments have significantly outperformed the overall market over the long term. A recent report from Deutsche Bank draws parallels between the current Big Tech exodus and the collapse of the tech bubble in 2000, giving reason…

On his first day in office, President Biden ordered federal agencies to adopt a broad “racial equity agenda” that would increase investments in communities of color, ensure agencies provide diversity training and expand opportunities for minorities to tap billions of dollars in government contracts.But over the past year, the administration has retreated from defending two affirmative action programs that were central to Biden’s efforts to “achieve racial justice,” as he said in his 2021 inaugural address. Both programs were put in place nearly a half-century ago and had been overturned by court decisions.The legislative withdrawal marks a major shift in…