Category: Business

Too many people, not enough management: A look at the chaos of ‘overtourism’ in the summer of 2024

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Read time : 3 mins

Level : Advanced

Tuk-tuks drop off and pick up tourists at the gate of the 19th century Pena Palace in Sintra, Portugal, Friday, Aug. 9, 2024. (AP Photo/Ana Brigida)

By LAURIE KELLMAN Associated Press

SINTRA, Portugal (AP) — The doorbell to Martinho de Almada Pimentel’s house is hard to find, and he likes it that way. It’s a long rope that, when pulled, rings a literal bell on the roof that lets him know someone is outside the mountainside mansion that his great-grandfather built in 1914 as a monument to privacy.

There’s precious little of that for Pimentel during this summer of “overtourism.”

Travelers idling in standstill traffic outside the sunwashed walls of Casa do Cipreste sometimes spot the bell and pull the string “because it’s funny,” he says. With the windows open, he can smell the car exhaust and hear the “tuk-tuk” of outsized scooters named for the sound they make. And he can sense the frustration of 5,000 visitors a day who are forced to queue around the house on the crawl up single-lane switchbacks to Pena Palace, the onetime retreat of King Ferdinand II. Continue reading

One thing that hasn’t changed in Hollywood: male characters still more than double female ones

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Read time : 2 mins

Level : Intermediate

This image released by Warner Bros. Pictures shows Ryan Gosling, left, and Margot Robbie in a scene from “Barbie.” (Warner Bros. Pictures via AP)

By JAKE COYLE AP Film Writer

NEW YORK (AP) — In recent years the movie industry has gone through the streaming revolution, the pandemic, labor strikes and “Barbenheimer.” But after countless upheavals in Hollywood, you’re still more than twice as likely to see male speaking characters in theatrical releases than you are female ones.

Just 32% of speaking characters in the top 100 movies at the box office in 2023 were women or girls, according to the University of Southern California’s Annenberg Inclusion Initiative annual report released Monday. That’s very nearly the same percentage as when Stacy L. Smith first began the study in 2007. Then, it was 30% of speaking characters. Continue reading

Insider Q&A: LinkedIn is bullish on AI. Will that help job seekers?

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Read time : 2 mins

Level : Advanced

(AP Illustration/Jenni Sohn)

By HALELUYA HADERO AP Business Writer

Like many other technology companies, LinkedIn is all in on generative AI, the artificial intelligence systems that can create text, images and other media in response to queries.

The professional networking platform last month rolled out new AI features to help users search for jobs, tailor their resumes and create personalized cover letters from scratch.

Consumer-facing brands have shown more interest in LinkedIn, according to a May report by Emarketer, The market research firm credited the increased attention to new advertising formats and changes in user behavior on the Microsoft-owned platform.

The Associated Press recently spoke with LinkedIn Chief Product Officer Tomer Cohen about generative AI, the job market, brand marketing and TikTok creators. The conversation has been edited for length and clarity. Continue reading

Biden’s decision to drop out leaves Democrats across the country relieved and looking toward future

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Level : Advanced

George Ledbetter watches news of President Joe Biden dropping out of the 2024 race for the White House at They Say Restaurant in Harper Woods, Mich., Sunday, July 21, 2024. (AP Photo/Paul Sancya)

By JOEY CAPPELLETTI, MIKE HOUSEHOLDER and CHARLOTTE KRAMON Associated Press

HARPER WOODS, Mich. (AP) — After weeks of uncertainty about who would be at the top of the Democratic Party’s ticket in November, many voters expressed relief over the news that President Joe Biden would drop his reelection bid and began to think about who might replace him in a dramatically altered election landscape.

Jerod Keene, a 40-year-old athletic trainer from swing-state Arizona, had planned to vote for Biden in November but was thankful for the president’s decision, calling it “inevitable.” Keene said he’s excited about the next candidate, hoping it will be Vice President Kamala Harris, whom Biden endorsed on Sunday. Continue reading

California fast food workers now earn $20 per hour. Franchisees are responding by cutting hours.

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Read time : 2 mins

Level : Intermediate

Lawrence Cheng, whose family owns seven Wendy’s locations south of Los Angeles, works in the kitchen at his Wendy’s restaurant in Fountain Valley, Calif., June 20, 2024. Cheng used to have nearly a dozen employees at his Fountain Valley location during the day. Now, he only schedules seven for each shift as he scrambles to absorb a dramatic jump in labor costs after a new California law boosted the hourly wage for fast food workers on April 1 from $16 to $20 an hour. (AP Photo/Jae C. Hong)

By JAIMIE DING Associated Press

LOS ANGELES (AP) — Lawrence Cheng, whose family owns seven Wendy’s locations south of Los Angeles, took orders at the register on a recent day and emptied steaming hot baskets of French fries and chicken nuggets, salting them with a flourish.

Cheng used to have nearly a dozen employees on the afternoon shift at his Fountain Valley location in Orange County. Now he only schedules seven for each shift as he scrambles to absorb a dramatic jump in labor costs after a new California law boosted the hourly wage for fast food workers on April 1 from $16 to $20 an hour.

“We kind of just cut where we can,” he said. “I schedule one less person, and then I come in for that time that I didn’t schedule and I work that hour.” Continue reading

So long plastic air pillows: Amazon shifting to recycled paper filling for packages in North America

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Read time : 2 mins

Level : Intermediate

FILE – The Amazon logo is seen, June 15, 2023, at the Vivatech show in Paris. Amazon is moving from putting plastic air pillows in its packages to using recycled paper filling instead, a move that’s more environmentally friendly and secures items in boxes better. The company said Thursday, June 20, 2024 that it’s already replaced 95% of the plastic air fillers with paper filler in North America and is working toward complete removal by year’s end. (AP Photo/Michel Euler, File)

By MICHELLE CHAPMAN AP Business Writer

Amazon is shifting from the plastic air pillows used for packaging in North America to recycled paper because it’s more environmentally sound, and it says paper just works better.

The company said Thursday that it’s already replaced 95% of the plastic air pillows with paper filler in North America and is working toward complete removal by year’s end.

“We want to ensure that customers receive their items undamaged, while using as little packaging as possible to avoid waste, and prioritizing recyclable materials,” Amazon said. Continue reading

Facebook owner Meta seeks to train AI model on European data as it faces privacy concerns

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Read time : 2 mins

Level : Intermediate

FILE – The Meta logo is seen at the Vivatech show in Paris, France, Wednesday, June 14, 2023. Meta said Monday, June 10, 2024, it wants to use data from users in privacy-conscious Europe to train its artificial intelligence models. It’s facing concerns about data protection while battling to keep up with rivals like OpenAI and Google. (AP Photo/Thibault Camus, File)

By KELVIN CHAN AP Business Writer

LONDON (AP) — Meta wants to use data from users in privacy-conscious Europe to train its artificial intelligence models, the social media giant said Monday as it faces concerns about data protection while battling to keep up with rivals like OpenAI and Google.

The company, which owns Facebook, Instagram and WhatsApp, said that in order to better reflect the “languages, geography and cultural references” of its users in Europe, it needs to use public data from those users to teach its Llama AI large language model. Continue reading

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating

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Read time : 3 mins

Level : Advanced

A Bank of American branch in the Williamsburg section in Brooklyn, New York, is shown on Thursday, May 16, 2024. The branch was previously used as a studio space for a sculptor. The clean, airy branch features sculptures by the artist who was previously in the space, as well as additional art from around the neighborhood. (AP Photo/Peter Morgan)

By KEN SWEET AP Business Writer

NEW YORK (AP) — It’s like Sephora or Starbucks now offered a checking account.

After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch.

Many of these branches are larger, airier, and meant to feel more comfortable for those walking in with difficult financial questions. Others are being designed as “third spaces” to allow local nonprofits or community representatives to hold workshops or seminars for customers or neighbors. They are a contrast to the marble-clad temples to finance built 50 or 75 years ago and the stale cookie-cutter branches that more recently cluttered suburban malls. Continue reading

New York will set aside money to help local news outlets hire and retain employees

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Read time : 3 mins

Level : Advanced

FILE – News Editor Chris Sciria puts the newspaper to bed for the last time from an empty newsroom at The Citizen’s 25 Dill St. location in Auburn, N.Y. on Friday, Oct. 22, 2021. After 51 years on Dill St. the newspaper moved its operation to a smaller office space. New York is offering up to $90 million in tax credits for news outlets to hire and retain journalists in an effort to help keep the shrinking local news industry afloat. (Kevin Rivoli/The Citizen via AP, File)

By MAYSOON KHAN Associated Press/Report for America

ALBANY, N.Y. (AP) — New York is offering up to $90 million in tax credits for news outlets to hire and retain journalists in an effort to help keep the shrinking local news industry afloat.

The U.S. newspaper industry has been in a long decline, driven by factors including a loss in advertising revenue as outlets have moved from primarily print to mostly digital. That prompted state lawmakers to help in a measure passed in the state budget.

New York’s three-year program allows some news organizations to tap into refundable tax credits each year, with a single outlet able to receive tax credits of up to $320,000 annually.

State Sen. Brad Hoylman-Sigal, a Democrat who sponsored the legislation, said preserving journalism jobs is vital for the health of democracy. As evidence, he cited the weakened New York news media’s failure to research the background of George Santos, a Republican who fabricated many details of his life story, until after he had been elected to Congress. Continue reading

FTX will return money to most customers less than 2 years after catastrophic crypto collapse

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Read time : 2 mins

Level : Intermediate

FILE – The FTX logo appears on home plate umpire Jansen Visconti’s jacket at a baseball game with the Minnesota Twins on Sept. 27, 2022, in Minneapolis. Failed cryptocurrency exchange FTX says that nearly all of its customers will receive the money back that they are owed, and some will get more than that, according to its reorganization plan. FTX said in a court filing Tuesday, May 7, 2024 that it owes about $11.2 billion to its creditors. (AP Photo/Bruce Kluckhohn, File)

By MICHELLE CHAPMAN AP Business Writer

FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that.

FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.

The filing said that after paying claims in full, the plan provides for supplemental interest payments to creditors, to the extent that funds still remain. The interest rate for most creditors is 9%. Continue reading