Category: 3. Business

  • 5 things to know before the stock market opens Friday

    5 things to know before the stock market opens Friday

    An automatic teller machine at the Zions Bank headquarters in Salt Lake City, Utah, on July 10, 2023.

    Kim Raff | Bloomberg | Getty Images

    This is CNBC’s Morning Squawk newsletter. Subscribe here to receive future editions in your inbox.

    Here are five key things investors need to know to start the trading day:

    1. Calling the exterminator

    Stocks dropped yesterday amid mounting fears on Wall Street about the prevalence of bad loans, and what it means for a slew of regional banks. That’s led to some “cockroach” hunting, as investors race to assess the health of financial institutions’ lending businesses.

    Let’s break this down:

    • Earlier this week, JPMorgan CEO Jamie Dimon warned that there could be more “cockroaches” out there, in reference to the collapses of auto parts maker First Brands and subprime car lender Tricolor Holdings.
    • Dimon appeared to be invoking the cockroach theory, which suggests that bad news for one company can lead to several other negative disclosures.
    • Shares of Jefferies, which has exposure to First Brands, dropped more than 10% yesterday. Zions, which earlier in the week said it had to take a large charge on bad loans, closed down 13%. Western Alliance said a borrower committed fraud and ended the session down nearly 11%.
    • Regional bank stocks tanked yesterday as a result, in turn driving down the broader market. Bank credit concerns also dragged on the European markets today.
    • The closely followed 10-year U.S. Treasury yield plunged to levels last seen in early April, when President Donald Trump’s unveiled his steep tariff policy.
    • Beyond banking, investors continued to monitor the U.S.-China trade dispute. China’s Ministry of Commerce accused the U.S. of creating “panic” over its rare earth export controls and said it was open to trade talks.
    • U.S. stock futures fell this morning, but are well off their lows. Follow live markets updates here.

    2. Bolton indicted

    John Bolton, former national security advisor, speaks during a Senate briefing hosted by the Organization of Iranian American Communities to discuss U.S. policy on Iran, in Washington, D.C., March 16, 2023.

    Tom Williams | Cq-roll Call, Inc. | Getty Images

    John Bolton, a former national security advisor to President Donald Trump, was indicted yesterday by a federal grand jury on charges of mishandling classified information. Bolton is the third Trump adversary to face criminal charges in recent weeks, following the indictments of former FBI Director James Comey and New York Attorney General Letitia James.

    Meanwhile in Washington, a bill to fund the military during the government shutdown failed in the Senate yesterday. The vote came hours after senators voted down funding legislation for the 10th time. United Airlines CEO Scott Kirby told CNBC yesterday that bookings could start slowing if the government doesn’t reopen soon.

    3. Paying the piper

    In an aerial view, a container ship arrives at the Port of Oakland on Oct. 10, 2025 in Oakland, California.

    Justin Sullivan | Getty Images

    You’re likely already feeling the economic impact of Trump’s tariff policy, according to S&P Global.

    The firm’s analysis found the levies will run global businesses nearly $1.2 trillion (yes, trillion) this year. Even under conservative estimates, S&P said two-thirds of that cost is expected to be passed down to consumers.

    While we’re on the subject of tariffs’ economic impact: The U.S. budget deficit in 2025 shrunk by slightly more than 2%, compared with the 2024 fiscal year. As CNBC’s Jeff Cox notes, revenue from Trump’s tariffs helped mitigate some government spending. Still, the federal government’s shortfall sits at $1.78 trillion.

    4. Apple’s rights race

    SINGAPORE, SINGAPORE – OCTOBER 05: George Russell of Great Britain driving the (63) Mercedes AMG Petronas F1 Team W16 leads Max Verstappen of the Netherlands driving the (1) Oracle Red Bull Racing RB21 Lando Norris of Great Britain driving the (4) McLaren MCL39 Mercedes Oscar Piastri of Australia driving the (81) McLaren MCL39 Mercedes and the rest of the field at the start prior to the F1 Grand Prix of Singapore at Marina Bay Street Circuit on October 05, 2025 in Singapore, Singapore.

    Mark Thompson | Getty Images Sport | Getty Images

    Apple will soon announce a deal valued at $140 million annually for F1’s U.S. media rights, sources told CNBC’s Alex Sherman. The partnership will help the technology giant build out its sports streaming portfolio, which already includes Major League Soccer and MLB content.

    In an interview this week, Eddy Cue, Apple’s senior vice president of services, said Apple has “love” for F1. Cue also said the modern sports watching experience has “gone backwards” as so many different streaming services get in the game.

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    5. Bright future

    Meta Ray-Ban Gen 2 AI glasses during the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 17, 2025.

    David Paul Morris | Bloomberg | Getty Images

    The parent company of sunglasses maker Ray-Ban has a specific company to thank for its recent performance: Meta.

    EssilorLuxottica said a sizable amount of its revenue growth in the third quarter was tied to its partnership with the big tech company to develop and sell smart glasses. Stefano Grassi, EssilorLuxottica’s finance chief, called the Meta products a “lift” for the business.

    Speaking of Meta, Oracle‘s shares were able to buck yesterday’s market downturn after the company confirmed a cloud deal with the Facebook parent.

    The Daily Dividend

    Here are some stories we’d recommend making time for over the weekend:

    CNBC’s Hugh Son, Sarah Min, Spencer Kimball, Jordan Novet, Jonathan Vanian, Ari Levy, Alex Sherman, Jeff Cox, Leslie Josephs, Dan Mangan and Lillian Rizzo contributed to this report. Josephine Rozzelle edited this edition.

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  • Can PSMA PET/CT Improve Prostate Cancer Staging and Care? – Medscape

    1. Can PSMA PET/CT Improve Prostate Cancer Staging and Care?  Medscape
    2. New scan improves survival rates for men with recurrent prostate cancer, Canadian study finds  CTV News
    3. Study: PSMA PET/CT Leads to Metastatic Staging Changes in 25 Percent of Patients with Newly Diagnosed High-Risk PCa  diagnosticimaging.com
    4. New imaging technique boosts survival in prostate cancer patients  News-Medical
    5. London researchers’ work helps improve prostate cancer treatment  The Spec

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  • Middle East: Extortion and ransomware drive over half of cyberattacks – Microsoft Source

    1. Middle East: Extortion and ransomware drive over half of cyberattacks  Microsoft Source
    2. Microsoft: Romania ranks 52nd globally in terms of impact of cyberattacks in the first half of 2025  Romania Insider
    3. Microsoft warns of a surge in ransomware and extortion incidents  Digital Watch Observatory
    4. Microsoft: Germany ranks first among EU nations for cyberattacks  Yahoo
    5. Switzerland ranks ninth in Europe for cyberattack frequency  Microsoft Source

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  • Lawrence Hill rail station to become step free with new lift

    Lawrence Hill rail station to become step free with new lift

    Avalon/Getty Images The photo shows both platforms at Lawrence Hill Station, taken from platform one looking across the tracks towards platform two. In the distance can be seen the steps to platform two, currently the only means of accessing it. A man holding a plastic bag can be seen walking away from the camera on platform one.Avalon/Getty Images

    The stairs seen on the left are currently the only way of accessing platform two

    An inner-city rail station is to become entirely step free for the first time in 162 years after plans for a lift were approved.

    Bristol City Council has given the go-ahead for the work for platform two at Lawrence Hill Station, which will be funded by the West of England Combined Authority (Weca).

    Platform one already has step-free access through the neighbouring Lidl car park, but West of England Mayor Helen Godwin said the station – which first opened in 1863 – has not been fully accessible “for too many years”.

    Representatives from Bristol City Council, Network Rail and Great Western Railway (GWR) have all welcomed the announcement.

    Currently platform two at Lawrence Hill is only accessible via a staircase, which Ms Godwin says has excluded many disabled and older people from train travel.

    “We want all of our stations to be fully accessible, so it’s great that our plans have now been approved to install a new lift to make Lawrence Hill step-free,” she said.

    It comes as part of a wider £400 million rail upgrade across the West Country, with five new stations set to be built in the coming years at Charfield, Henbury, North Filton, Pill and Portishead.

    ‘Better rail travel’

    Two others have already opened since 2023 – Portway Park and Ride and Ashley Down.

    Bristol City Council leader Tony Dyer said: “Moving forward with a new station lift at Lawrence Hill is part of our wider plan for extending and improving access to rail travel across our region.”

    Marcus Jones, western route director at Network Rail, said: “Today’s announcement brings us another step closer to bringing better rail travel for the people of Bristol and the west of England.”

    Weca is currently running a survey until 20 October asking people to record their experiences of using stations across the area.

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  • Meta adds parental controls for AI-teen interactions

    Meta adds parental controls for AI-teen interactions

    Meta is adding parental controls for kids’ interactions with artificial intelligence chatbots — including the ability to turn off one-on-one chats with AI characters altogether — beginning early next year.

    But parents won’t be able to turn off Meta’s AI assistant, which Meta says will “will remain available to offer helpful information and educational opportunities, with default, age-appropriate protections in place to help keep teens safe.”

    Parents who don’t want to turn off all chats with all AI characters will also be able to block specific chatbots. And Meta said Friday that parents will be able to get “insights” about what their kids are chatting about with AI characters — although they won’t get access to the full chats.

    The changes come as the social media giant faces ongoing criticism over harms to children from its platforms. AI chatbots are also drawing scrutiny over their interactions with children that lawsuits claim have driven some to suicide.

    Even so, more than 70% of teens have used AI companions and half use them regularly, according to a recent study from Common Sense Media, a nonprofit that studies and advocates for using screens and digital media sensibly.

    On Tuesday, Meta announced that teen accounts on Instagram will be restricted to seeing PG-13 content by default and won’t be able to change their settings without a parent’s permission. This means kids using teen-specific accounts will see photos and videos on Instagram that are similar to what they would see in a PG-13 movie — no sex, drugs or dangerous stunts.

    Meta said the PG-13 restrictions will also apply to AI chats.

    Children’s online advocacy groups, however, were skeptical.

    “From my perspective, these announcements are about two things. They’re about forestalling legislation that Meta doesn’t want to see, and they’re about reassuring parents who are understandably concerned about what’s happening on Instagram,” said Josh Golin, the executive director of the nonprofit Fairplay, after Meta’s announcement Tuesday.

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  • Ahlstrom Unifies Global Operations with SAP S/4HANA Cloud

    Ahlstrom Unifies Global Operations with SAP S/4HANA Cloud

    In 2023, Ahlstrom launched a major strategic business transformation project aimed at renewing and harmonizing the operations of its 36 plants worldwide. The solution chosen was SAP S/4HANA Cloud, which enables Ahlstrom to streamline its processes, improve flexibility, and move toward a data-driven and AI-enabled future.

    SAP S/4HANA Cloud: An out-of-the-box enterprise management solution and ready-to-run ERP

    Ahlstrom is a large international manufacturer of specialty materials, with 36 plants around the world and about 7,000 employees. The company’s strategy is to be a global leader in its field.

    The business transformation project, called Stella, is the largest single investment in company history. Its purpose is to transfer operations, except HR and product development, to the new SAP S/4HANA Cloud environment. The old group business system dated back to the 1990s and no longer met the needs of global manufacturing. Ahlstrom also uses SAP Ariba for its procurement, which had already been implemented.

    “SAP S/4HANA Cloud was clearly the best solution for us, especially for production management and planning,” shared Ahlstrom CIO Kristiina Lammila, who is responsible for the project. “With it, we can harmonize our operations and bring all our plants under the same system.”

    Unifying systems and data

    One of the main challenges of the project was integrating different systems and unifying fragmented data. With modernization, processes can be streamlined, daily work made easier, and time freed up for more strategically important tasks.

    “We have managed to make significant progress with SAP S/4HANA Cloud standard solution,” Lammila said. “We use private cloud, which also allows for fairly flexible modifications. One plant is already live, and next year seven more plants will join. The goal is to complete the entire transformation within five years.”

    According to Lammila, the system enables flexible transfer of production from one plant to another and global optimization of the supply chain.

    Benefits for both employees and customers

    Modern cloud ERP systems benefit all stakeholders. Streamlined production processes reduce waste and improve quality. Harmonized purchasing brings savings and the most visible change for Ahlstrom’s customers is smoother supply chains and better availability of products. The use of AI and analytics is expanding. Especially in sales support, AI solutions built on SAP Sales Cloud data are already in use at Ahlstrom.

    “We can integrate even more closely with our customers, as many of them also use SAP,” Lammila explained. “This facilitates and streamlines the flow of information between companies.”

    From the employee’s perspective, SAP S/4HANA Cloud makes teamwork easier. For example, order and inventory balances can be checked conveniently based on real-time data. Lammila also pointed out that the updated system supports employer branding, as job seekers expect to have appropriate and up-to-date tools at their disposal.

    Strong change leadership is key to success

    Lammila advises companies planning similar projects to approach transformations as comprehensive initiatives that must engage all employees, including management, not just the IT department.

    “Strong management commitment and a shared vision of where we are going and how to get there are needed. The project must be led as a deep transformation, and the end result must not be compromised due to haste. Poorly executed work is difficult to fix later,” she concluded.


    Ellen Vig Nelausen is an integrated communications expert for SAP Regional Communications.

    Subscribe to the SAP News Center newsletter to get stories and highlights delivered weekly

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  • CYBER TYRE AWARDED AS THE MOST INNOVATIVE TYRE TECHNOLOGY AT THE AUTOTECH BREAKTHROUGH AWARDS 2025

    CYBER TYRE AWARDED AS THE MOST INNOVATIVE TYRE TECHNOLOGY AT THE AUTOTECH BREAKTHROUGH AWARDS 2025

    Awarded as “V2X Innovation of the Year”, Pirelli Cyber Tyre is the world’s first system that collects data from tyres and processes them to optimise the vehicle’s control electronics.

    Pirelli’s technology has been recognised as decisive for the development of future smart and connected mobility.

    Milan, 17 October 2025 – Pirelli Cyber Tyre has won the title of Vehicle-to-Everything (V2X) Innovation of the Year at the AutoTech Breakthrough Awards 2025, an international prize awarded by the Tech Breakthrough intelligence platform, which identifies the most innovative players and services in the automotive technology sector. Cyber Tyre is the world’s first intelligent system capable of collecting data directly from the tyre, processing them through Pirelli proprietary software and algorithms, and communicating them in real time to the vehicle’s electronics, enabling improved driving dynamics, safety, and integration with digital infrastructures.
    “Cyber Tyre is a key technology for the future of smart mobility, which includes autonomous driving, connected vehicles, and the digitalisation of infrastructures. By integrating intelligence directly into the tyre, Pirelli Cyber Tyre makes transport systems safer, as well as sustainable and data-driven”, writes AutoTech Breakthrough, explaining the reasons for the award.

    “This recognition highlights the value of Cyber Tyre, which gives the tyre a new role in the revolution currently taking place in mobility. In Software-Defined Vehicles (SDV), the availability of precise real-time data is essential: our technology enables, for the first time, the transmission of detailed information to the vehicle’s electronics regarding the tyre’s status and road surface conditions, improving safety, performance, and efficiency. The system has already been adopted on high-end vehicles, with the goal of extending its application to an increasingly wider audience and to different functionalities towards other systems thanks to V2X connectivity”, said Piero Misani, CTO of Pirelli.

    Pirelli Cyber™ Tyre: how it works and main applications

    Thanks to sensors positioned inside the tread, Cyber™ Tyre measures parameters such as pressure, temperature, tread wear, and load. These data, processed by Pirelli algorithms, are transmitted to a control unit that optimises the vehicle’s electronic systems, such as ESP, ABS, and traction control, significantly improving safety and driving experience. Thanks to collaboration with Bosch Engineering, the system is fully integrated into the vehicle’s electronic architecture.

    In addition to in-car functionalities, Cyber™ Tyre enables V2V (Vehicle-to-Vehicle) and V2I (Vehicle-to-Infrastructure) communication, contributing to the development of smart roads and smart cities, where the collected data help in urban mobility planning and maintenance.
    The various V2X (Vehicle-to-Everything) connectivity capabilities can enable warning functions for vehicles and drivers about real-time road conditions, interact with traffic lights and road signs, optimise public transport and fleet management, offering essential support for the development of autonomous driving.

    Cyber Tyre technology is already on the market and has been adopted on several high-end models and is under development for various premium and prestige vehicle platforms. Recently, Aston Martin and Pirelli announced an agreement for the integration of the system into the British luxury brand’s future models.

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  • ‘Legacies condensed to AI slop’: OpenAI Sora videos of the dead raise alarm with legal experts | OpenAI

    ‘Legacies condensed to AI slop’: OpenAI Sora videos of the dead raise alarm with legal experts | OpenAI

    Last night I was flicking through a dating app. One guy stood out: “Henry VIII, 34, King of England, nonmonogamy”. Next thing I know, I am at a candlelit bar sharing a martini with the biggest serial dater of the 16th century.

    But the night is not over. Next, I am DJing back-to-back with Diana, Princess of Wales. “The crowd’s ready for the drop,” she shouts in my ear, holding a headphone to her tiara. Finally, Karl Marx is explaining why he can’t resist 60% off, as we wait in the cold to get first dibs on Black Friday sales.

    On Sora 2, if you can think it, you can probably see it – even when you know you shouldn’t. Launched this October in the US and Canada via invitation only, OpenAI’s video app hit 1m downloads in just five days, surpassing ChatGPT’s debut.

    AI-generated deepfake video uses the likenesses of Henry VIII and Kobe Bryant

    Sora is not the only text-to-video generative AI tool out there, but it has become popular for two main reasons. First, it is the easiest way yet for users to star in their own deepfakes. Type a prompt and a 10-second video appears within minutes. It can then be shared on Sora’s own TikTok-style feed or exported elsewhere. Unlike the mass-produced, low-quality “AI slop” clogging the internet, these clips have unnervingly high production value.

    The second reason is that Sora allows the likenesses of celebrities, sportspeople and politicians – with one crucial caveat: they have to be dead. Living people must give consent to feature, but there is an exception for “historical figures”, which Sora seems to define as anyone famous and no longer alive.

    That seems to be what most users have been doing since launch. The main feed is a surreal whirlpool of brain rot and historical leaders. Adolf Hitler runs his fingers through a glossy mane in a shampoo ad. Queen Elizabeth II catapults herself from a pub table while hurling profanities. Abraham Lincoln erupts with joy on a TV set upon hearing: “You are not the father.” Rev Martin Luther King Jr tells a gas station clerk about his dream that one day all slushy drinks will be free – then grabs the icy beverage and bolts before finishing his sentence.

    But relatives of those depicted are not laughing.

    “It is deeply disrespectful and hurtful to see my father’s image used in such a cavalier and insensitive manner when he dedicated his life to truth,” Malcolm X’s daughter Ilyasah Shabazz told the Washington Post. She was two when her father was assassinated. Today, Sora clips depict the civil rights activist wrestling with MLK, talking about defecating on himself and making crude jokes.

    Zelda Williams, actor Robin Williams’s daughter, pleaded with people to “please stop” sending her AI videos of her father, in an Instagram story post. “It’s dumb, it’s a waste of time and energy, and believe me, it’s NOT what he’d want,” she said. Shortly before his death in 2014, the late actor took legal action to block anyone from using his likeness in advertisements or digitally inserting him into films until 2039. “To watch the legacies of real people be condensed down to … horrible, TikTok slop puppeteering them is maddening,” his daughter added.

    Videos using the likeness of the late comedian George Carlin are “overwhelming, and depressing”, his daughter, Kelly Carlin, said in a BlueSky post.

    People who have died more recently have also been spotted. The app is littered with videos of Stephen Hawking receiving a “#powerslap” that knocks his wheelchair over. Kobe Bryant dunks on an old woman while shouting about objects up his rectum. Amy Winehouse can be found stumbling around the streets of Manhattan or crying into the camera as mascara runs down her face.

    Deaths from the past two years – Ozzy Osbourne, Matthew Perry, Liam Payne – are absent, indicating a cutoff that falls somewhere between.

    Whenever they died, this “puppeteering” of the dead risks redrawing the lines of history, says Henry Ajder, a generative AI expert. “People fear that a world saturated with this kind of content is going to lead to a distortion of these people and how they’re remembered,” he says.

    Sora’s algorithm rewards shock value. One video high on my feed shows King making monkey sounds during his I Have a Dream speech. Others depict Bryant re-enacting the helicopter crash that killed him and his daughter.

    While actors or cartoons may also portray people posthumously, there are stronger legal guardrails. A movie studio is liable for its content; OpenAI is not necessarily liable for what appears on Sora. Depicting someone for commercial use also requires an estate’s consent in some states.

    “We couldn’t just intimately resurrect Christopher Lee to star in a new horror film, so why can OpenAI resurrect him to star in thousands of shorts?” asks James Grimmelmann, an internet law expert at Cornell Law School and Cornell Tech.

    OpenAI’s decision to hand the personas of the departed to the commons raises uncomfortable questions about how the dead should live on in the generative AI era.

    Consigning the ghosts of celebrities to for ever haunt Sora might feel wrong, but is it legal? That depends who you ask.

    A major question remains unresolved in internet law: are AI companies covered bysection 230, and therefore not liable for the third-party content on their platforms? If OpenAI is protected under section 230, it cannot be sued for what users make on Sora.

    “But unless there’s federal legislation on the issue, it’s going to be legal uncertainty until the supreme court takes up a case – and that’s another two to four years,” says Ashkhen Kazaryan, an expert in first amendment and technology policy.

    Sam Altman, OpenAI’s CEO, speaks during Snowflake Summit 2025 in San Francisco, California, on 2 June. He is one of the living figures who has allowed Sora to use his likeness. Photograph: Justin Sullivan/Getty Images

    In the meantime, OpenAI must avoid lawsuits. That means requiring the living to give consent. US libel law protects living people from any “communication embodied in physical form that is injurious to a person’s reputation”. On top of this, most states have right of publicity laws that prevent someone’s voice, persona or likeness being used without consent for “commercial” or “misleading” purposes.

    Permitting the dead “is their way of dipping their toe in the water”, says Kazaryan.

    The deceased are not protected from libel, but three states – New York, California and Tennessee – grant a postmortem right of publicity (the commercial right to your likeness). Navigating these laws in the context of AI remains a “grey area” without legal precedent, says Grimmelmann.

    To sue successfully, estates would have to show OpenAI is liable – for example, by arguing it encourages users to depict the dead.

    Grimmelmann notes that Sora’s homepage is full of such videos, in effect promoting this content. And if Sora was trained on large volumes of footage of historical figures, plaintiffs might argue that the app is designed to reproduce it.

    OpenAI could, however, defend itself by claiming Sora is purely for entertainment. Each video carries a watermark, preventing it from misleading people or being classed as commercial.

    Bo Bergstedt, a generative AI researcher, says most users are exploring, not monetising.

    “People are treating it like entertainment, seeing what crazy stuff they can come up with or how many likes they can gather,” he says. Upsetting as this may be for families, it could still comply with publicity laws.

    But if a Sora user builds an audience by generating popular clips of historical figures and starts monetising that following, they could find themselves in legal trouble. Alexios Mantzarlis, director of the security, trust and safety Initiative at Cornell Tech, notes that “economic AI slop” includes earning money indirectly through monetised platforms. Sora’s emerging “AI influencers” could therefore face lawsuits from estates if they profit from the dead.

    A ‘Whac-A-Mole’ approach

    In response to the backlash, OpenAI announced last week that it would begin allowing representatives of “recently deceased” public figures to request that their likeness be blocked from Sora videos.

    “While there are strong free speech interests in depicting historical figures, we believe that public figures and their families should ultimately have control over how their likeness is used,” an OpenAI spokesperson said.

    The company has not yet defined “recently”, or explained how requests will be handled. OpenAI did not immediately respond to the Guardian’s request for comment.

    It has also backtracked on its copyright-free-for-all approach, after subversive content such as “Nazi Spongebob” spread across the platform and the Motion Picture Association accused OpenAI of infringement. A week after launch, it switched to an opt-in model for rights holders.

    Grimmelmann expects a similar pivot over depictions of the dead. “Insisting people must opt out if they don’t like this may not be tenable,” he says. “It’s ghoulish, and if I have that instinct, others will too – including judges.”

    Bergstedt calls this a “Whac-A-Mole” approach to guardrails that will probably continue until federal courts define AI liability.

    In Ajder’s view, the Sora dispute foreshadows a larger question each of us will eventually face: who gets to control our likeness in the synthetic age?

    “It’s a worrying situation if people simply accept that they’re going to be used and abused in hyperrealistic AI-generated content.”

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  • BCI Board Nominee Spotlight: Desmond O’Callanghan FBCI

    BCI Board Nominee Spotlight: Desmond O’Callanghan FBCI

    Full name: Desmond O’Callanghan
    Membership grade: FBCI
    Country of residence: Canada
    Professional role: Retired. Past Corporate Program Leader / Consultant / Educator

    About the nominee

    I am a retired BCM expert professional. I have held positions in organizations of all sizes, from 500 to 40,000. Prior to entering the BCM profession at a Canadian bank in 1989, I held positions in Accounting, Administration, Internal Audit and Operations.

    My BCM career has spanned 36 years in leadership roles. Much of my employment was in finance, but I also had 13 years of salaried and independent consulting across all sectors. My last full-time job was Director of Global Continuity Services for a major insurance company.  Since 2011, I have contributed to the BCI on the Global Membership Council, 11 years on the Canadian Chapter Board, 4 as Leader; a member of the Americas Next Practice Group for 4 years, 2 as Leader.

    Now in the Op Res SIG. I have judged awards for 11 years, this year, honorary. I have been a Lead Assessor for the past 6 years. I have contributed to the last 3 GPG updates. I advised Central Office staff in developing the Competency Framework. I have contributed to many education initiatives, including course and exam creation, development and review. I wish to bring all my experience and dedication to the board.

    Any prior board governance experience?

    I have been involved in BCI governance for over 11 years. As a member of the Canadian Chapter Board, I was the Canadian representative on the Global Management Council until it was phased out.

    Subsequently, I was Chapter Vice-President, managing dissolution of the legal entity in 2020; then Group Leader for 4 years in the new structure. I was the Leader of the Americas Next Practice Group and remain active with its successor, the Operational Resilience SIG. Outside the BCI, I have been an active member of the Resilience Information Exchange (RIE) for 36 years, serving on the board and several sub-committees of its Toronto Chapter Board for many years, principally Communications and Program Planning.

    I have been a career-long leader/contributor to numerous planning committees for BCM conferences, including BCI World. Besides working life, I have served pro bono on a church finance committee, the board of a not-for-profit seniors’ residence, responsible for operations and strategic planning.

    Why serve on the BCI Board?

    I would like to serve as a BCI Board Director because the combination of my knowledge and extensive experience within the BCM profession is suited to the role. My passion for business continuity and my extensive involvement in BCI operations and governance would provide a mature and meaningful contribution to its evolution.

    Being now retired from remunerative employment will allow me the time and energy to devote to the role. I love being an Ambassador for the BCI and an advocate for the profession and all BCI volunteers.

     I see board membership as a valuable, culminating contribution at this stage of my career. I believe strongly in the core principles and practices that were and still are the foundation the BCI is built on. I am committed to knowledge transfer between generations as we go through a demographic shift, embracing new thinking and methodology.

    I want to do everything I can to “pay it forward.” I have benefited greatly from the profession and the BCI, and I am keen to contribute what I can in return and promote volunteering as its lifeblood.

    What skills and experience do you bring to the board?

    In my 36-year BCM career working for companies from 500 to 40,000 employees, my foremost skills have been strategic analysis, communications and leadership.

    Most roles I have held have required interpersonal skills in matrix management structures, promoting collaborative behaviours and negotiation. I have experience in co-managing initiatives involving multiple organizations, in both the public and private sectors.

    Previous work experience included Finance, Administration, Operations and Risk Management. Having held leadership roles in my BCI volunteer work (Canadian Chapter, Americas Next Practice Group), I have demonstrated a philosophy of success through teamwork.

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  • Micron to exit server chips business in China after ban: report

    Micron to exit server chips business in China after ban: report

    Micron offices in San Jose, California, on Nov. 30, 2023.

    David Paul Morris | Bloomberg | Getty Images

    Micron plans to stop supplying server chips to data centers in China after the business failed to recover from a 2023 government ban on its products in critical Chinese infrastructure, two people briefed on the decision said.

    Micron was the first U.S. chipmaker to be targeted by Beijing – a move that was seen as retaliatory for a series of curbs by Washington aimed at impeding tech progress by China’s semiconductor industry.

    Since then, both Nvidia and Intel chips have similarly fielded accusations from Chinese authorities and an industry group of posing security risks, though there has not been any regulatory action.

    Lenovo to remain a customer

    Micron will continue to sell to two Chinese customers that have significant data center operations outside China, one of which is laptop maker Lenovo, the people said.

    The U.S. company, which made $3.4 billion or 12% of its total revenue from mainland China in its last business year, will also continue to sell chips to auto and mobile phone sector customers in the world’s second-largest economy, one person said.

    Asked about the exit from its China data center business, Micron said in a statement to Reuters that the division had been impacted by the ban, and it abides by applicable regulations where it does business.

    Lenovo did not immediately respond to a request for comment.

    U.S.-Sino trade tensions and tech rivalry have only escalated since 2018, when U.S. President Donald Trump began imposing tariffs on Chinese goods during his first term. That same year, Washington ramped up accusations against Chinese tech giant Huawei, accusing it of representing a national security risk, imposing sanctions a year later.

    Huawei has denied those charges. Nvidia and Intel have also denied charges that their products pose risks to Chinese national security. Micron also said in 2023, before the conclusion of China’s probe, that it stood by the security of its products.

    Currently, the U.S. has sanctioned hundreds of Chinese entities. China, which is more reliant on imported tech, has taken far fewer regulatory actions.

    Losing out on China’s AI boom

    The ban on Micron products in critical infrastructure by China – the world’s second-largest market for server memory – has meant the company has missed out on the country’s data center expansion boom.

    That’s benefited rivals Samsung Electronics and SK Hynix, as well as Chinese companies YMTC and CXMT, which have been aggressively expanding with the support of the Chinese government.

    Investment by data centers used in computing in China surged ninefold to 24.7 billion yuan ($3.4 billion) last year, according to a Reuters review of government procurement documents.

    That said, Micron’s challenges in China have been offset by huge demand for data centers and related tools elsewhere, thanks to the global adoption of artificial intelligence. That’s helped the company report record quarterly revenue.

    According to a third source, Micron’s data center team in China employs over 300 people. Reuters was not able to immediately establish how many jobs may be affected.

    Micron has been downsizing in other areas in China. In August, it laid off a few hundred people in its universal flash storage program after deciding to cease development of future mobile NAND products globally, according to the South China Morning Post.

    Areas where it has continued to expand in China include its chip packaging facility in the city of Xian.

    “We have a strong operating and customer presence in China, and China remains an important market for Micron and the semiconductor industry in general,” Micron said in its statement to Reuters.

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