The Daily Upside

US Economy Trending Toward ‘Goldilocks’ Scenario: S&P Global

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S&P Global’s US Composite Purchasing Managers’ Index shows business activity grew the fastest in over two years this month.

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RIA Deals Hit Sizable Peak in Q2

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The heightened RIA deal activity points to optimism for cheaper financing in the future as firms get ready for Federal Reserve rate cuts.

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Janney Montgomery Scott Sold in Major PE Deal

Photo via Connor Lin / The Daily Upside

Janney will be sold from the Penn Mutual Life Insurance Company, marking another major equity deal in a busy year for the industry.

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Ethereum ETFs Impress in Debut. Will Advisors Care?

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A recent survey found most clients aren’t interested in having conversations about crypto, which could cap the funds’ impact on the industry.

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GM Pulls the Plug on Driverless, Brake Pedal-less, Steering Wheel-less Robotaxi

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General Motors shares tumbled after the company said its driverless taxi division, Cruise, will suspend production of the Origin robotaxi.

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Shell Backs Off Offshore Wind

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Shell has started to shop around for buyers to offload its stake in an offshore wind project off the coast of Scotland.

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Meta Turns to an Old Strategy to Boost New AI Business

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Meta debuted the latest version of Llama, its large-language model. Unlike rival ChatGPT, Llama is open source.

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Airlines Have Finally Hit a Ceiling on Fares

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Ryanair said it had seen its profits take a 46% nosedive, and would have to offer “materially lower” airfares for the busy summer period.

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Even Apple is Getting Tired of the Streaming Industry Treadmill

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After years of spending big with little to show for it, Apple is attempting to rein in costs at Apple TV+.

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China Makes Surprise Rate Cuts Following Top Policy Meeting

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The People’s Bank of China unexpectedly lowered its benchmark lending rates and a noteworthy short-term policy rate.

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Advisory Firms Say Thanks, But No Thanks to AI

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Artificial intelligence may be one of the fastest-growing tools in business, but don’t tell that to the compliance department.

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Client Assets Rebound on Strong Referral Strategies

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Assets under management for RIAs rebounded sharply last year, and not just because of the markets’ blistering performance.

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Why This Little-Known Wall Street Revenue Stream Is Drying Up

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The jig may be up for cash sweeps, which have long been one of Wall Street’s most lucrative — and hush-hush — revenue streams.

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Meta VR Cloud Gaming Patent Could Clear the Way for Lighter Headsets

Photo via U.S. Patent and Trademark Office

While cloud gaming platforms through Microsoft’s Xbox and Nvidia are already available to consumers, artificial reality cloud streaming isn’t quite there yet.

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Ford Drone Patent May Create an Autonomous Driving Russian Doll

Photo via U.S. Patent and Trademark Office

Patents like this serve as a reminder that autonomous vehicles look like more than just cars themselves.

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Boeing Seeks Fault-Tracking Patent Amid Safety Backlash

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Though AI has the potential to make troubleshooting issues a much more streamlined process, models still often face accuracy issues.

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Starbucks Becomes the Target of Activist Campaign

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Activist investing firm Elliott Management has taken a significant stake in Starbucks, and has already begun pushing for strategic changes.

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London’s Days as the World’s Money-Laundering Capital May Be Numbered

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London has been the world’s top spot for money laundering, but that could be changing. Roughly 17% of UK millionaires are leaving.

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Y24K: Three Days After the Biggest IT Outage in History

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A single file in a defective software update caused a global IT outage that disrupted airports, banks, hotels, trains, hospitals, and more.

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Who has Liability in the Shifting World of e-commerce?

Photo illustration by Connor Lin / The Daily Upside, Photos by Zlatko Plamenov and DilokaStudio via Freepik

Amazon has largely dodged liability for the products sold on their virtual shelves. But could the legal tides be shifting?

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Advisor Upside

Financial advisor news, market insights, and practice management essentials.

Walmart Patent Signals AI Transformation for Bricks-and-Mortar Retail

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Why AI Augmentation Tech Is More Than a ‘Cost-Cutting Tool’

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Why Access Controls May Be AI’s Biggest Security Vulnerability

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