• Sam Altman doesn’t think we are worried enough about how AI will impact the economy

    Sam Altman
    OpenAI CEO Sam Altman said during a Brookings Institute panel people aren't worried enough about AI's impact on the economy.

    • OpenAI CEO Sam Altman says AI's impact on the economy should be a top of mind concern.
    • "I have a fear that we just won't take that one seriously enough going forward," he said Tuesday during a panel. 
    • Research suggests AI has the potential to affect millions of jobs and lead to lower wages.

    AI has the potential to wreak havoc on the upcoming election season.

    But when OpenAI CEO Sam Altman was asked for his thoughts on how the spread of AI-generated misinformation may affect elections, the tech leader appeared to be more concerned about another issue: AI's impact on the economy.

    "The thing I'm most worried about right now is, the sort of, the speed and magnitude of the socioeconomic change may have, and what the impacts on what that will be," Altman said Tuesday during a Brooking's Institute panel about AI and geopolitics.

    Altman said the discussions around AI's effect on the economy — like how the technology may lead to mass job replacement — died down this year compared to last. He said he worries what could happen if people don't take those concerns seriously.

    "GPT- 4 didn't have this huge detectable impact on the economy, and so people were kind of like, "Oh well, we were too worried about that, and that's not a problem," Altman said on the panel, referring to the language model that powers ChatGPT. "I have a fear that we just won't take that one seriously enough going forward, and it's a massive, massive issue."

    Altman didn't immediately respond to a request for comment from Business Insider before publication when asked why he thinks it would be an issue.

    New research is revealing the extent to which AI can disrupt the economy. An International Monetary Fund study from earlier this year found that AI may impact roughly 60% of jobs in "advanced economies." Roughly half of those jobs can be automated, the IMF wrote, which could lead to less hiring and lower wages. In turn, nearly 12 million US workers may need to switch jobs by 2030, a separate McKinsey study found.

    Workers seem to be already feeling the effects of AI on their jobs. Some CEOs say they've replaced their staff with an AI chatbot, and some professionals have said they've lost work to tools like ChatGPT.

    AI doesn't spell doom and gloom for all workers. Those optimistic about AI say knowing how to use the technology can help employees save time and boost productivity. They can even move up the corporate ladder and make more money.

    But Altman said he is still worried about AI's potential on the labor market. Last year, he told CNBC in an interview that he's a "little bit scared" of ChatGPT, warning his company's creation could "eliminate" many jobs.

    "I think if I said I were not, you should either not trust me, or be very unhappy I'm in this job," Altman said.

    Read the original article on Business Insider
  • 3 ASX 200 shares I want to buy if the stock market crashes again

    Three women athletes lie flat on a running track as though they have had a long hard race where they have fought hard but lost the event.

    Investing in S&P/ASX 200 Index (ASX: XJO) shares is a great source of wealth-building. That translates to the broad market typically moving in a general state of incline over time.

    But share markets move in cycles, and purchase prices matter. Under this lens, a stock market crash – while not ideal – opens a window of buying opportunities.

    The great investing icon Warren Buffett says it best: “Widespread fear is your friend as an investor because it serves up bargain purchases.”

    If there were another market crash, here are three of the ASX 200 shares I would go bargain-hunting for.

    Wesfarmers Ltd (ASX: WES)

    Say the market were to crash, a recession is likely to precede or follow suit.

    The diversified retail conglomerate Wesfarmers has a competitive advantage here due to its broad offering of portfolio brands. Many of its companies are in competitive industries with low profit margins but have high market share and equally high revenues.

    That’s because they are the low-cost provider in many instances, beating the competitors on price and operating margin – highly attractive in a high-inflation world. Bunnings, Kmart, and Priceline Pharmacy are three cases in point here.

    But when times are tough, consumers also turn to low-cost providers as their preferred providers. So, if the economy is slow, Wesfarmers’ competitive advantage increases.

    Goldman Sachs has tipped Bunnings to deliver $2.5 billion to $3 billion in free cash flow for Wesfarmers this year, which will be used to finance its growth ventures in health and lithium.

    Wesfarmers touched a record trading high of $71.11 on Wednesday. Any move into the $50-$55 per share range would be an attractive entry point in my books.

    CSL Ltd (ASX: CSL)

    Global biotechnology giant CSL continues to cement its position as a market leader in various complex disease segments.

    The company’s technologies are used in laboratories throughout the globe, and its three core units, CSL Behring blood plasma therapy, CSL Vifor iron deficiency and nephrology therapies, and Seqirus for vaccines, are here to stay.

    A market crash would make this ASX share really attractive to investors due to the cyclical tailwinds building in its plasma collections and immunoglobulin divisions.

    Research conducted by Global Market Insights projects the global immunoglobulin market to grow at 7.7% per year to 2030, reaching US$32 billion by then.

    Analysts at UBS agree, forecasting “double-digit earnings growth over the coming years” from this division, according to my Foolish colleague James last week. UBS has a price target of $330 on the CSL share price, 20% upside potential.

    If the stock slipped back to $225 per share, the upside potential would increase to 46% at UBS’ valuation.

    National Australia Bank Ltd (ASX: NAB)

    ASX banking shares have rallied in 2024. NAB hasn’t missed the boat, up 12% in the past four months. NAB also had a return on equity (ROE) of 12.9% in 2023, the second highest in the banking majors.

    The rally has pushed NAB shares toward many analyst price targets. Goldman Sachs and Morgans value NAB at $33 and $30 apiece, respectively, whereas Citi analysts have a $28 valuation.

    Despite this, NAB has plenty going for it. It recently announced a number of leadership changes that caught investor attention.

    As I write, its dividend of $1.68 per share provides a trailing dividend yield of 4.85%, which would spike sharply in a market crash. A pullback to $25 per share, for instance, would give NAB shareholders a 6.7% yield at that dividend rate. 

    This characteristic is easy to ignore at the wrong price. That’s why, if the market were to suddenly crash, NAB is firmly on my radar.

    The post 3 ASX 200 shares I want to buy if the stock market crashes again appeared first on The Motley Fool Australia.

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    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and Wesfarmers. The Motley Fool Australia has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Republicans nominate dead woman for Indianapolis House seat

    The solidly Democratic district is currently represented by Rep. André Carson.
    The solidly Democratic district is currently represented by Rep. André Carson.

    • Jennifer Pace has been declared the winner of the GOP primary in Indiana's 7th district.
    • There's just one problem: she died two months ago.
    • Republicans are expected to convene to choose someone else to run in the solidly Democratic seat.

    On Tuesday, Republicans in Indiana nominated a woman who has been dead for two months to take on incumbent Democratic Rep. André Carson.

    Public relations specialist Jennifer Pace won a crowded primary in the state's 7th congressional district with more than 31% of the vote, according to Decision Desk HQ. But according to several reports, Pace — who also ran for the seat in 2022 — died of a heart attack in early March.

    According to a Ballotpedia candidate survey, Pace's platform included limiting government interference, parental rights, and addressing inflation.

    "My parents instilled that limiting government overreach has always been the Republican way to protect individual freedom, rights and equality of which I'm committed to doing," Pace wrote in the survey.

    It remains unclear who will actually be the GOP nominee in the Indianapolis-based House seat. Under state law, local precinct committee members meet to select a new nominee when the current nominee dies.

    But it's also somewhat beside the point — Carson, who's served in the House since 2008, has won with more than 60% of the vote since 2016.

    This isn't the first time something like this has happened.

    In fact, there are several instances of dead candidates winning not just primaries, but general elections.

    Two famous examples include Rep. Nick Begich in 1972 and Gov. Mel Carnahan in 2000, both of whom won elections in their respective states of Alaska and Missouri after dying in plane crashes.

    Read the original article on Business Insider
  • The longevity clinic of the future is here

    Photo collage featuring images from Chi Longevity and Sheba Longevity, including interior design, exterior views, and a patient being examined
    Longevity clinics are boutique doctor's offices that aim to prevent patients from developing diseases, rather than treat existing problems.

    • Longevity clinics aim to fight diseases before they take hold.
    • A longevity physical typically takes about eight hours and costs more than $10,000.
    • This article is part of "Trends in Healthcare," a series about the innovations and industry leaders shaping patient care.
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    If you want to look and feel young, the longevity industry can be something of a rabbit hole. There's no shortage of things you can try at home or find on vacation: luxury spas, online supplement services, biological-age tests, microbiome-focused juicers.

    There's also a growing set of medical clinics taking emerging longevity research into a doctor's-office setting. These longevity clinics are practicing medicine in reverse: Take apparently healthy people and figure out what's going to be wrong with them if business continues as usual. Some call the trend "medicine 3.0."

    The very first longevity clinic, Human Longevity, was set up in San Diego 10 years ago. Its cofounder J. Craig Venter, a biochemist who was among the first scientists to map the human genome, says that while everyone wants to have control over their lifespan and wellness, without gathering more precise information about how people are changing over time, preventive care can only go so far.

    "You can exercise, you can eat a healthy diet, but I contend you could eat 10 pounds of kale a day and still have a tumor that you don't know about," he told Business Insider. "My view is you can tell me whether you feel healthy; I can tell you whether you're actually healthy."

    craig venter sitting in office, slight smile
    J. Craig Venter (above), Peter Diamandis, and Dr. Robert Hariri launched Human Longevity in 2013. It was arguably the world's first longevity clinic.

    Each longevity clinic operates a little bit differently, but it's all high-end concierge medicine aimed at understanding how your body changes through time. Longevity clinics' survey indicators include genetics, gut health, physical strength and fitness, cognition, body scans, and blood work. It's an executive physical on (figurative) steroids.

    Venter said an MRI scan at Human Longevity identified a case of prostate cancer that his regular doctors missed. "If I hadn't discovered it when I did, I would've died sometime in the last five years," he said.

    Most longevity clinics require an initial visit that takes about six to eight hours for all the testing, scans, and interviews.

    Chi clinic, with couches, plush waiting area
    Clients who visit Chi Longevity spend a full day doing physical and cognitive tasks and answering questions about their lives. They also provide blood, saliva, and stool samples for testing.

    "Longevity is very simple and straightforward," Venter said. "If we can keep you from dying prematurely from heart disease or cancer, as examples, because they're the two biggest killers of men and women of all races, you'll live a longer, healthier life."

    Human Longevity says among 1,000 "asymptomatic" patients who visited its clinic, roughly 40% had some kind of non-life-threatening condition requiring long-term medical attention or monitoring, like a heart issue, or genetic predisposition to cancer or diabetes. Another 14% identified a pressing health issue that needed more immediate attention. Human Longevity's well-heeled clients pay about $25,000 for the complete workup.

    A next-level executive physical with a price tag to match

    Over the past few years, other clinics have been popping up around the world, with similarly eye-popping price tags. Each has a slightly different take on how to practice longevity medicine, but they're built around the same core concepts. Disease prevention is key to healthy aging, and knowing how your genes interact with your environment and habits can change your life.

    Peter Attia, a longevity doctor in Texas, might have the best-known longevity-medicine practice, though he stresses he's not accepting new clients. (His pricing is rumored to be between $90,000 and $150,000 per year.) There's also Tony Robbins' and Peter Diamandis' Fountain Life ($3,000 to $19,500), with locations in New York, Florida, and Texas; Biograph ($7,000 to $14,500) in San Mateo, California; and Chi Longevity, which opened last year in Singapore and costs $11,100 for a 10-month program. There is no regulatory body or accreditation system for longevity clinics.

    Craig McGee, a Chi Longevity cofounder, says that what separates these offerings from a longevity spa or a retreat is the medical attention, with an emphasis on testing and observation over time.

    tests at chi
    Some of the equipment at Chi Longevity.

    "It's not just you come for a week, you have the experience, and then you pay your invoice," he said.

    At Chi, like at other longevity clinics, patients are offered a dashboard with personalized recommendations for exercise, sleep, and medications. They're set up with a health coach for diet advice. And they may use fitness and health trackers, as well as a continuous glucose monitor to watch their blood sugar. Then about six months later they come back, retest, and see how well it's all working.

    chi longevity bio age tests
    Chi Longevity's dashboard for patients. Chi uses five different biological age tests to give patients a sense of how well their body is operating.

    Currently, Chi uses five different biological age tests to assess how well its clients are weathering time, but Dr. Andrea Maier, one of the cofounders at Chi, says she wishes there were even more well-validated biological age tests she could use.

    "I would love to have 10, 15, or 20," she said. "Every organ is aging at a different pace, and every organ, I would say, deserves a different clock."

    From graying biohackers who arrive taking more than 20 different supplements a day, and wondering how well its all working, to younger folks just hoping to optimize their routines, Maier says Chi aims to give clients new routines they can actually enjoy, making them feel better inside and out.

    "We have many clients who are biologically younger after the interventions," she said. "Many of our clients have more happiness, including me. I'm getting fitter and fitter, which is great."

    andrea, smiling
    Andrea Maier is a cofounder of Chi Longevity.

    Longevity clinics for all?

    If you're wondering whether this kind of treatment could ever be attainable for anyone who's not a billionaire, the answer seems to be: maybe.

    A public longevity clinic opened in Singapore in August for clinical trials. And there's a free option that's been connected to the largest Israeli hospital in Tel Aviv since May 2023.

    Good luck getting in, though. Both were flooded with interest and have long waitlists.

    Read the original article on Business Insider
  • Invested $8,000 in New Hope shares 3 years ago? Here’s how much you have now!

    Man holding a calculator with Australian dollar notes, symbolising dividends.

    New Hope Corp Ltd (ASX: NHC) shares have handed out some very tidy gains over the past three years.

    How tidy?

    I’m glad you asked!

    Here’s what an $8,000 investment in New Hope shares three years ago would be worth today.

    How have New Hope shares been tracking?

    Three years (and two days ago) ago, on 7 May 2021, you could have bought New Hope shares for $1.18 apiece.

    Meaning you could have bought 6,779 shares with your $8,000 investment.

    Not coincidentally, May 2021 was also when we saw coal prices begin to really lift off.

    At the time thermal coal, primarily used for generating electricity, was trading for approximately US$98 per tonne. But fuelled by strong demand amid limited new supplies, and following Russia’s February 2022 invasion of Ukraine, thermal coal prices hit all-time highs of some US$440 per tonne by September 2022.

    This also saw New Hope shares trading at all-time highs in October of that year.

    Although the ASX 200 coal stock has retreated from those record highs, investors who bought three years ago will still be sitting very pretty.

    New Hope shares closed yesterday trading for $4.70 apiece.

    That gives the S&P/ASX 200 Index (ASX: XJO) coal miner a market cap of right around $4.0 billion.

    And it means that the 6,779 shares you bought three years ago for $8,000 would now be worth a cool $31,861.30.

    But that’s not the extent of the gains you would have booked.

    New Hope shares also have been paying out some very juicy dividends.

    Don’t forget the dividends

    New Hope shares gained a lot of attention among passive income investors in recent years amid the coal miner’s soaring dividend payments.

    Since May 2021 the ASX 200 coal stock has made a total of six fully franked dividend payments.

    All told these come out to $1.80 a share in dividends that you would have received if you’d bought the stock three years ago.

    Now we’ll assume here that you decided to spend those dividends rather than reinvest them, which could have netted you even more gains.

    OK.

    If we add the $1.80 a share in total dividend payouts to yesterday’s closing price of $4.70, then the total accumulated value of New Hope shares since May 2021 works out to $6.50 a share.

    Which means – drum roll please – that the 6,779 shares you bought three years ago for $8,000 would be worth $44,063.50 today.

    Or a gain of 451%!

    The post Invested $8,000 in New Hope shares 3 years ago? Here’s how much you have now! appeared first on The Motley Fool Australia.

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    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Former students say a California school district ‘ignored and concealed’ sexual abuse

    The exterior of Rosemead High School, with a tree in the foreground.
    Rosemead High School, in Southern California. A lawsuit alleges sexual abuse by educators was rampant there.

    • Three former students have filed suit, saying a SoCal school district failed to protect them from "rampant" sexual abuse.
    • The lawsuit comes after Business Insider revealed decades of sexual misconduct by educators at Rosemead High.
    • Former students across the nation are raising fresh abuse allegations, sparking probes and resignations.

    A group of sexual abuse survivors have filed suit in Los Angeles Superior Court, saying their high school district failed to protect them from predatory teachers for years.

    The lawsuit, filed by three former students at Rosemead High, claims that district officials created a "toxic" culture on campus where "sexual abuse by educators is rampant." Administrators failed to properly supervise employees, the lawsuit claims, and repeatedly "ignored and concealed the sexual abuse of minor students."

    The plaintiffs in the suit, which cites Business Insider's investigation of sexual misconduct at the Southern California high school, include a pair of former students BI previously identified as L. and Clara. L. said she had a yearslong sexual relationship with her tennis coach Wing Chan while she was a student, while Clara said she was groped and sexually harassed by social science teacher Alex Rai for much of her senior year. A third woman, identified only as a Jane Doe, said she was sexually harassed and groped by her track coach, Eduardo Escobar, as a freshman.

    Escobar, who resigned in 2008 following a district investigation of his conduct with multiple female students, denied sexually harassing and groping students but said "it was probably my fault that I didn't put enough distance between me and the athletes."

    The lawsuit follows the resignation of multiple Rosemead teachers and the launch of a criminal investigation by the Los Angeles County Sheriff's Department.

    "Our office has litigated against school districts for years. I've never seen another situation where, from top to bottom, the staff is trained in a way that violates the law," said attorney Michael Carrillo, who brought the case. "It's about protecting the interests of the school district over protecting children." In 2019, Carrillo secured a $5 million verdict against a teacher and the El Monte Union High School District (EMUHSD), which oversees Rosemead High, in a sexual misconduct case involving a teacher at another school.

    A leather Rosemead High diploma case rests against cement school steps.
    A Rosemead High diploma.

    District superintendent Edward Zuniga declined to comment. Chan, who for the past 15 years has worked at the LA County Probation Department, did not respond to requests for comment. Rai, who resigned in 2022 following a district investigation into his relationships with Clara and other female students, did not respond to requests for comment.

    Meanwhile, the district has opened an investigation into allegations of sexual misconduct involving at least one current Rosemead High educator in the wake of BI's reporting. Special education teacher Edwin Reyes Villegas was put on leave in October, documents show; two people interviewed as part of the investigation said Villegas's relationship with a female student in 2022 was the focal point of the inquiry. Villegas did not respond to requests for comment.

    Former Rosemead choir director David Pitts was also placed on leave in October from his job at nearby Gabrielino High School, after parents and community members complained to administrators about his conduct with students. As BI reported, Pitts established a relationship with his former piano accompanist, Cindy, that included shoulder massages and intimate conversations when she was a student and became sexual soon after she graduated.

    Gabrielino's head of human resources, Ross Perry, said he expected the investigation of Pitts to conclude "before the end of the school year," but declined to answer other questions. Pitts didn't respond to requests for comment.

    A group of current Rosemead students, meanwhile, have met regularly with administrators for the past 18 months to discuss an anti-grooming curriculum they hope will be implemented districtwide. The group has dubbed itself the Ceanothus Council Against Child Grooming, named after a native California shrub known for its resilience. Students didn't hide their frustration during an emotional school board meeting in October, when an alum, Kristy, spoke publicly for the first time about her experience having a sexual relationship with a teacher.

    BI is only identifying Cindy and Kristy by their first names.

    "The district is only willing to do as much as it takes to postulate the idea of transparency or reform," said Sofia Hernandez, the school board's student representative, who is a member of the Ceanothus group. "We ask EMUHSD to make a clear and explicit effort towards transparency, towards actual efforts to educate teachers and students. We ask for the bare minimum."

    Ripple effects across the nation

    BI's coverage of sexual abuse in schools has prompted many other former students to take action across the country.

    In Loudoun County, Virginia, an alum of Broad Run High School, who asked to go by their middle name, Lee, had spent the decade since they graduated in 2012 grappling with how to come forward about their experience being sexually abused.

    Lee said they were groomed by their marching band instructor, William Riddell, for a sexual relationship that began during their junior year. Riddell would drive Lee to his parents' house, where he used the basement to give private music lessons. But it wasn't until another of Riddell's students died by suicide in 2012 that Lee began to question the relationship. A school staffer later told Lee that investigators had discovered inappropriate text messages Riddell sent their classmate. "That's when everything shattered for me," Lee said. "I realized that I was not special."

    After speaking to BI about their experience, Lee couldn't shake the feeling that something needed to be done. They connected with others who had witnessed Riddell's behavior with teenagers and spoke with a Fairfax County Police detective. Then things began to snowball.

    In February, Lee met with a prosecutor from the Virginia Attorney's General office, a meeting invitation shows. The prosecutor shared that they'd executed a search warrant at Riddell's home and discovered extensive child pornography, Lee recalled, including a digital folder with Lee's name on it.

    On March 30, Riddell was arrested on multiple counts of reproduction and possession of child pornography; Riddell was released on bond earlier this week and a preliminary hearing in his case is scheduled for July.

    Spokespeople for Virginia Attorney General Jason Miyares and the Fairfax County Police Department declined to comment on the case, citing the ongoing investigation. Neither Riddell nor his attorney responded to requests for comment.

    "Part of me feels validated. It's something I've been saying for 10 years," Lee said. "But if this had been addressed 10 years ago, maybe others wouldn't have been hurt."

    In St. Louis County, Missouri, a former student of journalism teacher Erin Sucher O'Grady, who asked to go by only an initial, B., decided to report the instructor's sexual relationship with another student after seeing a BI call-out seeking such tips. She reported to district officials that her classmate had been groomed for sex by Sucher O'Grady, an award winning teacher at Clayton High School, when she was a student in the early 2010s. The relationship had gnawed at B. for years.

    In late 2022, district officials opened an investigation of Sucher O'Grady, documents show. In January 2023, assistant superintendent Tony Arnold confirmed that the district had substantiated multiple policy violations by the teacher, including her communications with students. Sucher O'Grady resigned as part of a separation agreement and admitted no liability; she declined to discuss the district's investigation.

    B. said that BI's reporting on sexual abuse in public schools was "instrumental to me deciding that something should be done" about her former teacher.

    Back in Southern California, when another former high school student, who asked to go by only an initial, K., got in touch with BI in February of last year, she was wracked by doubt. After reading about how a Rosemead High journalism teacher, Eric Burgess, had groomed multiple teenage girls for sex, she'd begun to unpack her relationship with her Laguna Beach High School English teacher David Brobeck, which she said became sexual after she graduated in the late 2010s.

    "I had a big crush on him, and I think other girls did, too," K. explained. "I'd just say he was handsome, and everyone thought it was funny."

    K. recalled being drawn to Brobeck's charm and reputation as one of the school's most popular teachers. After graduation, K. would return to the school to run at the track. One day, Brobeck requested that she add him on Instagram. Their conversations quickly became sexual, K. said, and Brobeck confided that he'd always liked her as a student. Then he kissed her.

    In August 2023, K. reported the relationship to the Laguna Beach Unified School District, which hired the private investigative firm Nicole Miller and Associates — the same firm that investigated Burgess at Rosemead in 2019 — to investigate Brobeck. Brobeck resigned in March of this year and will receive $80,000 in severance per the terms of his confidential agreement with the district, in which he admitted no wrongdoing; Brobeck declined to comment for this story.

    At least one educator named in BI's nationwide investigation of sexual misconduct in schools is no longer around students. After leaving a job as PE teacher in the Lake Washington School District outside of Seattle, Scott Nelson was coaching basketball in the Issaquah school district. He'd resigned from the Lake Washington district in early 2023 following a district investigation that had identified a "pattern of inappropriate behavior" with students.

    After BI's story appeared in December, Issaquah officials read his disciplinary file from Lake Washington for the first time. Nelson told BI he was soon informed that he would not be coaching again this year.

    An Issaquah school district spokesperson said Nelson was a volunteer coach and that he did not disclose any of the allegations in his personnel file when he applied to work there. "We chose to rescind the opportunity to volunteer as a result of the failure to disclose the investigation," the spokesperson said.

    Nelson described the documents as a "total misrepresentation of my career" and denied sexually harassing students. He said he is appealing the decision and wants to continue coaching.

    "The HR person said it was too risky, so we don't want you to coach anymore," he said. "I told her, 'Look, if I had issues like this, do you really think I'd get involved in a school again?'"

    Lax federal oversight

    BI's reporting identified several states that lack the so-called "Pass the Trash" laws that the federal Department of Education has called on them to implement. In 16 states, school districts require only a criminal background check, with no further backgrounding of past misconduct allegations, which often do not generate legal proceedings.

    Yet the federal Department of Education appears to have no plans to change the status quo. A department spokesperson said the federal law forbidding school employees from providing a recommendation for a teacher they have probable cause to believe engaged in sexual misconduct with a student "prohibits the Department from mandating, directing, or controlling specific state or local measures responsive to this provision."

    After initially agreeing to discuss BI's findings, the spokesperson declined to make anyone available for an interview. In a written statement, the spokesperson said, "Education leaders have a responsibility for ensuring students' well-being in schools and that parents feel confident that their child is safe in school. Failing to remove known predators from schools is not only unacceptable, it is against the law."

    Matt Drange graduated from Rosemead High in 2007.

    The Los Angeles County Sheriff's Department Special Victims Bureau is investigating sexual abuse at Rosemead High. The investigators can be reached through the Temple City station or by calling (562) 946-7960.

    Read the original article on Business Insider
  • China is in the middle of its own retirement crisis as many older people cannot afford to stop working

    An elderly lady washing vegetables inside a tulou in Fujian, China.
    Elderly lady washing vegetables inside a tulou in Fujian, China.

    • China is grappling with a retirement crisis as its population ages.
    • According to OECD data, people over the age of 60 account for 13% of the country's workforce. 
    • China is anticipating another 300 million people to reach retirement age in the next 10 years.

    China is going through a retirement crisis, with a significant portion of older people finding that they can't afford to stop working. 

    Citing data from the OECD, Reuters reported on Tuesday that of the 734 million people working in China, 94 million, or 13%, are over the age of 60, the retirement age for men in China. That rivals the share of workers who are of retirement age in the US, where 10%-15% are aged 60 or older.

    The proportion of older people in the workforce has risen dramatically in the last few years, up from just 8% recorded in 2020. That's largely due to China's rapidly aging population, with officials anticipating 300 million people to reach retirement age over the next 10 years, according to OECD data. That's nearly half of China's workforce and not much smaller than the entire US population.

    The demographic imbalance has put a huge strain on government benefits, especially considering China's high youth unemployment rate, meaning less money is added to the pool of available resources to keep people afloat in retirement. 

    Monthly pensions in urban areas range from 3,000 yuan to 6,000 yuan, Reuters reported, which is equivalent to $415-$830 dollars in the US. Pension payments, at a minimum, are 123 yuan a month, the equivalent of $17. 

    The situation mirrors some of what is going on in the US, with an aging population and a growing number of older people being forced to work past retirement age in order to keep paying the bills. 

    Over 30 million baby boomers are nearing retirement without enough saved and over half of Americans over the age of 65 make less than $30,000 a year, according to 2022 Census data.

    Meanwhile, 38% of older Americans would live under the poverty line if it weren't for Social Security payments, the Center on Budget and Policy Priorities found, though the Social Security and Medicare Board of Trustees said in a recent report that the program will only be able to pay out full benefits for the next 11 years or so.

    Read the original article on Business Insider
  • Young workers say working 4 days a week would actually make them better employees

    People leaving work
    Working less than 40 hours per week won't hurt company productivity, according to 81% of young workers.

    • Young people think a four-day workweek would make them more productive.
    • More businesses are backing the idea and testing it out with "fantastic" results.
    • The practice is gaining momentum with companies all over the globe.

    Young professionals said they don't need 40 hours a week to get their work done.

    CNBC/Generation Lab surveyed 1,033 people between the ages of 18 and 34, and the results were overwhelmingly in favor of a four-day workweek.

    In fact, 81% of respondents said working one less day a week would improve their company's productivity.

    They're not alone — a shorter workweek has been a topic of discussion for years, and an increasing number of companies worldwide have begun testing that out over the past several months. In February, the Dominican Republic announced it would implement a six-month trial of a 36-hour workweek at some major companies.

    A police department in Colorado moved workers from 40 to 32 hours a week in July 2023 and reported "fantastic" initial results months later.

    Officers show up to work "energetic, more engaged, ready to hit the road and get work done," their commander previously told CNN.

    The idea of a reduced working schedule has some notable backers. Billionaire Microsoft founder Bill Gates said in November that the workweek could get down to as little as three days with the help of artificial intelligence and machines.

    "If you eventually get a society where you only have to work three days a week, that's probably OK," Gates said during an appearance on Trevor Noah's "What Now?" podcast.

    But tech CEO Binny Gill previously told Business Insider that AI could have the opposite effect and possibly turn companies into "24/7 machines" where employees remain on call around the clock. The majority of companies have stuck with a five-day week, too.

    One alternative: a four-and-a-half day week. Advertising company Basis Technologies ends the day at noon every Friday, and advocates believe it's a good alternative for companies who aren't ready to promise a full day off.

    The CNBC/Generation Lab survey also showed that 60% of respondents, when asked: "Where do you think you do your best work?" said the office, with 40% saying from home. About three-quarters of those surveyed wouldn't accept more vacation days for less pay.

    Read the original article on Business Insider
  • Saudi Arabia’s $100 billion AI and semi-chip fund says it will divest from China if the US asks

    Riyadh skyline Saudi Arabia
    • Saudi AI firm Alat would divest from China if the US requests it, CEO Amit Midha told Bloomberg.
    • Saudi Arabia has been pouring billions into AI and semiconductor initiatives in an attempt to become a major hub.
    • Concerns have grown that Middle Eastern ties offered China a way to access advanced technologies.

    A new state-backed Saudi Arabian fund centered on semiconductor and AI technology has guaranteed that it would divest from China if Washington requests it.

    "US is the number one market, US is the number one partner, and we hope we can partner more deeply," Alat CEO Amit Midha told Bloomberg during the Milken Institute Global Conference.

    The firm, financed by a $100 billion capital injection from Saudi Arabia's Public Investment Fund, would have no problems pulling back from Beijing when asked:

    "So far, the requests have been to keep manufacturing and supply chains completely separate, but if the partnerships with China would become a problem for the US, we will divest," Midha said.

    According to Bloomberg, the US has been in talks with the kingdom to ensure its massive AI buildout doesn't bolster China's own efforts in the sector, as competition heats up between Washington and Beijing. Officials have long portrayed China's access to AI and semiconductor technology as a national security threat.

    Attention has fallen on Saudi Arabia as it plows significant money into AI, all to become a major industry hub. Aside from its investment in Alat, it has partnered with Silicon Valley players for another $40 billion in AI funding, The New York Times reported.

    But that's also drawn scrutiny from the US, on the worry that Middle Eastern connections in China offer Beijing a sanctions loophole. Since late 2022, Washington has targeted China with a number of technology sanctions.

    US officials have already had to mandate AI firms to divest from China, such as G42. According to Bloomberg, the United Arab Emirates' company complied, keeping access to US AI systems and leading to a $1.5 billion investment from Microsoft.

    For his part, Midha sees value in sticking to the US, touting that his firm can be a meaningful support in building out necessary AI infrastructure.

    The firm is also planning a partnership with two US tech firms this summer, while co-investing alongside another US fund, he said. He declined to name the companies involved.

    Read the original article on Business Insider
  • Cunard added a 4th luxury cruise ship to its famous fleet — see what it’ll be like on the new Queen Anne

    Cunard's Queen Anne at sea
    Cunard added a fourth ship, the 2,996-guest Queen Anne, to its historic fleet.

    • Cunard welcomed its fourth ship and newest in 14 years, the 2,996-guest Queen Anne.
    • The 114,000-ton vessel has amenities like an Indian restaurant and pool under a retractable glass roof.
    • Queen Anne's 2024 itineraries, primarily in Europe, start at $300 per person for a two-night cruise.

    Cunard has operated 249 ships throughout its 184 years in operation, including the famous Queen Mary and Queen Mary 2. But it's been 14 years since the cruise line has launched a new vessel — until now.

    Luxury cruisers, meet Queen Anne. It's Cunard's latest 2,996-guest ship, replete with 4,300 art pieces, archery, and the company's signature high-end flair. Its arrival was so highly anticipated that every cabin on its May 3 maiden voyage was fully reserved in minutes, the BBC reported.

    The Carnival Corp. brand may be storied, but that doesn’t mean it’s past its prime.
    Queen Anne cruise ship aerial of pool
    Construction on the ship began in early September 2022.

    Katie McAlister, president of Cunard, recently told the BBC that its bookings have grown 25% since the beginning of 2024 and are now the best they've been in a decade.

    So it should come as no surprise that several of Queen Anne's 2024 itineraries are almost sold out.

    Cunard isn’t in the business of building bigger.
    empty bar on Queen Anne
    The Chart Room is one of several bars and lounges on Queen Anne.

    Luxury cruise lines are beloved for their small-ship experience. Cunard is no different.

    The new 114,000-ton cruise liner is the company's second-largest, although it can carry more guests than any of its other ships.

    However, at a 2,996-guest and 1,225-crew capacity, Queen Anne is still tiny compared to the mass-market cruise industry's newest ships, the largest of which can carry 10,000 people.

    Queen Anne's cabins are divided into four categories, listed from most to least luxurious: Queens Grill, Princess Grill, Britannia Club, and Britannia.
    empty restaurant
    Queen Anne has 162 Britannia Club cabins, about 200% more than on Cunard's previous ships. All of these mid-tier cabins have a balcony and access to the Britannia Club restaurant, pictured.

    Despite being the cheapest option, the Britannia accommodations have high-end amenities like sparkling wine, Penhaligon toiletries, and tea and coffee machines.

    That's nothing compared to the most luxurious Queens Grill suites, where guests get amenities like pillow menus, stocked mini-bars, a butler, fruit, and pre-dinner canapes.

    Forget the sparkling wine — Queens Grill travelers get a bottle of Champagne.

    Cabin categories are especially important for Cunard, not for reasons you might expect.
    empty lounge on queen anne
    Princess and Queens Grill guests can use their room keys to access the exclusive Grills Terrace, shown in a render.

    Besides how luxurious your hotel room at sea is, your cabin influences where you have breakfast, lunch, and dinner.

    Guests in the Princess Grill suites dine at the Princess Grill restaurant, while Britannia Club guests stick to the Britannia Club restaurant, and so on.

    Guests in the higher-end Princess and Queens cabins also get a pretty sweet bonus: an exclusive lounge with infinity hot tubs.

    Regardless of your cabin, the 14-deck ship has plenty of areas for all guests to relax under the sun.
    empty pool surrounded by chairs and a movie screen
    The glass dome retracts when the ship is in warm-weathered destinations.

    For example, the Pavilion. It's one of Queen Anne's go-to places for an afternoon swim, nighttime movie viewing, silent disco, and not-so-silent live music, all under a retractable glass roof.

    The ship's pool club also has plenty of lounge seats for a more traditional pool deck experience. For something indoors, head to the drawing and game rooms instead.

    Like every new cruise ship, Queen Anne has a pickleball court.
    empty pickleball court with paddles on ground
    The sky bar and observation deck have outdoor activities like a putting green and pickleball.

    But unlike every new cruise ship, it also has archery — coaches, bows, and arrows included.

    Travelers looking for a less intense afternoon can instead try their hand at the putting green, shuffleboard, or quoits.

    Not confident in your athletic abilities? Don't worry — there's a bar nearby, too.

    If you lose your pickleball match, you can retail therapy your pain away at Queen Anne’s high-end stores.
    empty store with cases of high-end goods
    Queen Anne's stores, shown in a render, carry 115 brands, 27 of which are first for Cunard.

    Travelers have been splurging big on their cruise vacations. On Queen Anne (and with help from one of the ship's personal shoppers), this could include a Bremont watch or Chanel makeup.

    Or, do as cruisers do: Eat and drink the pain away.
    empty restaurant
    The Indian restaurant Aranya, shown in a render, is a first for Cunard.

    The ship has 15 eateries. Unfortunately, you'll have to pay extra for the Mediterranean, Indian, Japanese, steakhouse grill, alfresco, and British restaurants.

    Thankfully, the food hall-style buffet, room service, and cabin-assigned dining rooms are included in the fare.
    Specialty Tramonto, shown in a render
    Specialty Tramonto, shown in a render, serves Mediterranean food "with a sparkling of African and Arabic influences," according to Cunard.

    Feeling peckish in the afternoon? Afternoon tea is held in the Queens Room, the same venue that hosts events like ballroom dancing and Cunard's signature black-tie galas.

    Of course, a cruise wouldn’t be complete without a casino, spa, and nighttime shows.
    render of empty theater
    Entertainment is shown in the two-deck, 825-velvet-seat Royal Court Theatre, shown in a render.

    Queen Anne is showing two new productions, including an adaptation of the classic British film "Brief Encounter."

    For more casual entertainment, the ship also has a "show bar" helmed by a variety of musicians and entertainers.

    For a more relaxing afternoon, try the spa's cryotherapy, "experience showers," and salt saunas.
    wellness studio with yoga mats rendering
    Cunard says Queen Anne has more wellness facilities than any of its previous ships. The "wellness studio" — a first for Cunard — hosts fitness classes like yoga, pilates, and meditation, as shown in a rendering.

    Afterwards, to keep the wellness trend going, grab a healthy bite at the veggie and "sustainably sourced protein"-forward Wellness Cafe. Its kombucha bellinis are technically good for you, right?

    Cunard is beloved for its regular transatlantic cruises on its Queen Mary 2 ocean liner.
    queen anne at night
    Cunard says Queen Anne is scheduled for more than 60 ports across 16 countries.

    In 2025, Queen Anne will embark on its first three-month around-the-world cruise. However, for the most part, it's not scheduled for repeat long-haul journeys.

    Instead, in 2024, the ship will be homeported in Southampton, UK and travel on two- to 19-night itineraries across Europe.

    The cheapest way to experience the new ship is a two-night summer cruise from Southampton to Hamburg, Germany, which currently starts at $300 per person.
    queen anne cruise ship during sea trials
    The last time Cunard had four ships in service was 1999, according to its parent company, Carnival Corp.

    But if money is no problem, the 18-night roundtrip Hamburg cruise during Christmas and the New Year might pique your interest — and your wallet. The itinerary's luxurious Queens Grill suites start at $19,350 per person.

    Read the original article on Business Insider