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The Latest Breaking News from Larry Summers

Here's a big reason why people may be gloomy about the economy: the cost of money

Former Treasury Secretary Larry Summers argues that high interest rates are contributing to people's gloomy economic mood. Sentiment may improve, though, if the Federal Reserve begins to cut rates.

WEKU

The 'Vibescession' Will Continue Until Interest Rates Fall

A new economic paper explains why interest rates are the missing piece to understanding why people are unhappy about a seemingly strong economy.

Reason

OpenAI Delays Launch Of Custom GPT Store, Here's Why

One of the recently appointed board members at OpenAI, Larry Summers has emphasised the importance of operating as a corporation with a conscience.

International Business Times UK

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Strange Sam Altman saga concludes with Altman back as OpenAI CEO and Microsoft holding a non-voting seat on the board

OpenAI co-founder Sam Altman is back at the company as CEO after being fired earlier this month. The move coincides with a major restructuring of the OpenAI board, which now includes Microsoft as a non-voting member.

Windows Central

3 problems with the new OpenAI board and what the company needs to do next

Diversifying the board may be the most urgent issue facing OpenAI's directors.

Fortune

Sam Altman is back at OpenAI. Where are the women?

The two women on the leading AI company's board are out. Three men are in.

Fortune

Larry Summers, who more and more thinks 'ChatGPT is coming for the cognitive class,' just joined OpenAI's board to seal Sam Altman's triumphant comeback

The former Treasury secretary told Bloomberg months ago that "the people who write articles and their friends" are more at risk from tech this time around.

Fortune

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OpenAI co-founder makes spectacular return mere days after ousting, with the board that fired him mostly swept away

Don't mess with Microsoft.

PC Gamer

Sam Altman is back at the helm as CEO after a chaotic weekend-long fiasco for OpenAI

OpenAI's weekend-long fiasco seems to have ended after the company issued a statement announcing the reinstatement of Sam Altman as the company's CEO with a new initial board.

Windows Central

OpenAI averts internal crisis with return of CEO Sam Altman

The AI research firm is restoring Altman as CEO after his sacking last week threatened a mass exodus from the company.

Al Jazeera

Sam Altman and Greg Brockman to return to OpenAI just days after being fired

Sam Altman returns to OpenAI after being ousted, Microsoft's Satya Nadella welcomes the move.

Tom’s Hardware

Government may sell its NatWest stake to UK public; Grangemouth oil refinery to shut – as it happened

‘It’s time to get Sid investing again,’ Hunt says; Scotland’s sole oil refinery at Grangemouth is due to cease operations in 2025

The Guardian - UK

Sam Altman returns as OpenAI CEO, adds Larry Summers to new board

The ChatGPT developer will have a new board, after its former directors agreed to unceremoniously fire Sam Altman as CEO.

Fortune

Sam Altman returns as OpenAI CEO days after shock exit amid board shake-up

Sam Altman has returned as CEO of OpenAI alongside former president Greg Brockman and a host of new directors in the latest twist in the tech firm's dramatic boardroom saga.

Evening Standard

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The Guardian - UK

Sam Altman to return as CEO of OpenAI

New board announces ‘agreement in principle’ for return of former CEO after campaign by staff and investors

Fortune

Israel’s war against Hamas roils Harvard as students, billionaires, and faculty accuse each other of anti-Semitism and McCarthyism

An Israeli billionaire resigned from the board of Harvard’s Kennedy School of Government after a student group’s letter “held the Israeli regime” accountable for the recent terrorist attacks.

Fortune

Billionaire Apollo CEO calls on University of Pennsylvania donors to send just $1 in protest until two leaders resign

Billionaire Marc Rowan, CEO of Apollo Global Management, has called for a change of management at the University of Pennsylvania.

Fortune

Bill Ackman wants Harvard to name the students blaming Israel for the Hamas attacks so that he and other CEOs don't hire them by accident

Billionaire investor Bill Ackman, founder of Pershing Square Capital Management, wants Harvard University to name the students which signed a controversial statement on the Israel conflict.

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The Independent UK

Biden heads to battleground Wisconsin to talk about the economy a week before GOP debate

President Joe Biden is stopping in the battleground state of Wisconsin to discuss how policies he calls “Bidenomics” are boosting the economy

The Guardian - US

‘Erosion of governance’ led Fitch to downgrade US credit rating

Trump’s efforts to overturn election and political polarization led agency to decision, says senior director

Zenger

Fitch Downgrades US’ Long-Term Rating From “AAA” To “AA+” ‌

Former treasury secretary Larry Summers says downgrade when economy is looking stronger than expected is “bizarre and inept”.

Fortune

Bidenomics’ critics are being proven wrong. Happy days are here again

How has the U.S. economy proven so resilient? Partly due to Bidenomics, write Yale's Sonnenfeld and Tian.

Fortune

Larry Summers slams ‘Bidenomics’ strategy as ‘increasingly dangerous’

The former White House economist said aspects of “Bidenomics” were mistakenly being regarded as “a route to higher incomes.”

Fortune

Larry Summers ‘disappointed’ in FTC’s new merger guidelines. It’s not the first time he’s disagreed with the Biden admin

The former Treasury secretary has a track record of criticizing the Biden administration’s economic policies.

The Conversation

Australia is on the brink of ending interest rate hikes and an economic first – beating inflation without a recession

What if Reserve Bank Governor Philip Lowe and his successor Michele Bullock were able to achieve something truly remarkable – a steady decline in inflation without further interest rate increases, and without bringing on a recession.

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