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Previously owned by the Australian government, Medibank is the largest health insurer in Australia. Its two brands, Medibank Private and Ahm, cover around 4 million people. Medibank and Australia's fourth-largest health fund, NIB Holdings, are the only listed health insurers. In addition to private health insurance, the firm provides life, pet, and travel insurance, as well as health insurance for overseas students and temporary overseas workers. The Medibank Health division provides healthcare services to businesses, governments, and communities across Australia and New Zealand.

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Australia Says Russian Hackers Stole Over 10M Citizens&#39; Details: &#39;We Know Who You Are&#39;

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Bill Gates, co-founder of Microsoft, has addressed the widespread conspiracy theory that accuses <a href="https://www.benzinga.com/news/24/02/37058173/heres-what-bill-gates-said-he-would-ask-a-time-traveler-from-the-year-2100">him of implanting microchips in COVID-19 vaccines</a>.
What Happened: Gates was once confronted by a woman who believed in this theory. To this, Gates responded, &#8220;I really don&#8217;t need to track you in particular.&#8221;
Gates expressed his astonishment at being implicated in such conspiracy theories during an interview <a href="https://www.cnet.com/tech/services-and-software/bill-gates-talks-to-cnet-about-ai-misinformation-and-climate-change/">with</a> CNET. In 2022, he addressed the misinformation on X, stating, &#8220;Some of it like me putting chips in arms doesn&#8217;t make sense to me — why would I want to do that?&#8221;
Conspiracy theorists have also cast doubts on Gates&#8217; extensive farmland purchases. Gates, who owns approximately 275,000 acres, is the largest private farmland owner in the US. 
According to a report <a href="https://www.businessinsider.com/bill-gates-conspiracy-theory-covid-vaccine-microchips-response-2024-9">by</a> Business Insider, during a Reddit Ask Me Anything session, Gates clarified, &#8220;I own less than 1/4000 of the farmland in the U.S. I have invested in these farms to make them more productive and create more jobs. There isn&#8217;t some grand scheme involved — in fact all these decisions are made by a professional investment team.&#8221;
Also Read: <a href="https://www.benzinga.com/news/24/08/40429632/book-bill-gates-leadership-instills-fear-created-kings-court-like-atmosphere-at-foundation">Bill Gates&#8217; Leadership Instills Fear, Created &#8216;King&#8217;s Court-Like&#8217; Atmosphere At Foundation</a>
Gates has since developed a humorous outlook on these conspiracy theories, telling the BBC, &#8220;When people say that I want to track everyone — why do I want to track everyone?&#8221;
Why It Matters: Conspiracy theories surrounding Gates and the COVID-19 vaccine have been circulating for a while now. These theories have not only been a source of misinformation but have also led to a significant amount of public distrust in the vaccine. 
Gates&#8217; responses to these theories are crucial in debunking them and restoring public faith in the vaccine. 
His investments in farmland and his efforts to make them more productive also highlight his commitment to creating more jobs and contributing to the economy.
Read Next
<a href="https://www.benzinga.com/news/24/08/40147612/new-book-claims-bill-gates-was-banned-from-being-alone-with-interns-at-microsoft" target="_blank" rel="noreferrer noopener">New Book Claims Bill Gates Was Banned From Being Alone With Interns At Microsoft</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Woman Once Confronted Bill Gates On The Street Over Vaccine Conspiracy — Here's What He Said

Shortly ahead of Monday&#8217;s <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40696588/exclusive-apples-iphone-16-launch-will-be-disappointment-before-the-excitement-gene">iPhone 16 launch event</a>, Bloomberg columnist Mark Gurman delved into the supercycle which many are anticipating following the launch of the newest iteration of the Apple, Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) flagship product.
Gurman Dampens Hopes: Expectations of some analysts that the Apple Intelligence will set off a long-awaited super cycle for the new iPhone 16 may not materialize, <a href="https://www.bloomberg.com/news/newsletters/2024-09-08/apple-event-staggered-ai-rollout-and-same-iphone-design-means-no-super-cycle-m0tkgzqg?srnd=undefined">said</a> Gurman in his latest Power On newsletter. These analysts foresee a rush of upgrades following pent-up demand on the premise that consumers are excited about AI right now, he said.
Providing a &#8220;dose of reality,&#8221; Gurman said, &#8220;a super cycle is simply unlikely this year.&#8221;
Macroeconomics may party hinder any potential super cycle, the columnist said, adding that smartphone softness is ongoing in China and other consumers elsewhere are also holding tight to their money. 
The bigger issue boils down to the AI technology itself, the Apple specialist said. The new iPhones will look nearly identical to last year&#8217;s models except for some minor camera upgrades and other features, he said. These upgrades may not motivate consumers to upgrade, he added. 
Thirdly, Apple Intelligence tools may be a big part of Monday&#8217;s launch event, but it will increasingly become clear that consumers will have to wait for the best AI features, Gurman said.
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best AI Stocks</a>
AI Pushbacks: Apple Intelligence isn&#8217;t fully baked and the initial version will likely miss many features, including OpenAI&#8217;s ChatGPT, said Gurman. He also noted that Apple Intelligence won&#8217;t be available in the European Union &#8211; a key market for Apple and which includes countries such as Italy, France, Spain, Sweden and Germany. It also won't be ready for China, another crucial overseas market, he added.
Many consumers aren&#8217;t well versed with AI and therefore they won&#8217;t understand why they would even need Apple Intelligence, the columnist said, adding that it may take several months for the company to explain the benefits of the technology.
The introduction of Apple Intelligence will be slow and staggered, and when the iPhone 16 ships later this month it won&#8217;t have the capabilities, Gurman said. He expects the features to start rolling out as part of the iOS 18.1 software updates in October.
The beta version of iOS 18.1 showed features that &#8220;summarize notifications and web content,&nbsp;tools to improve writing,&nbsp;a way to remove people or objects from images and automated transcriptions of phone calls, and prioritization of important emails&nbsp;within the Apple Mail app,&#8221; Gurman said.
Apple has decided to delay new image-generation features to iOS 18.2, which will release in December, he said. &#8220;That includes the Image Playground app and the Genmoji capability, which uses&nbsp;AI to make emoji&nbsp;based on inputted text,&#8221; he said.
&#8220;This spread-out&nbsp;approach means it's&nbsp;unlikely for the AI platform to be compelling enough to drive serious upgrades this year,&#8221; Gurman said. But Apple should be in a stronger position when it is time for the next iPhone, which is in the fall of 2025, he said.
&#8220;Don't&nbsp;believe the hype about an iPhone 16 super cycle. But you can start believing in one for the iPhone 17 next year,&#8221; he added.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/09/40744895/elon-musk-left-in-awe-as-apple-sells-1-4m-iphones-every-2-days-an-insane-growth-from-its-launch-">Elon Musk Left In Awe As Apple Sells 1.4M iPhones Every 2 Days — An &#8216;Insane&#8217; Growth From Its Launch Year</a></li>
</ul>

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AAPL

'Don't Believe The Hype About An iPhone 16 Super Cycle,' Gurman Says: 'Consumers Will Have To Wait For The Best AI Features'

These ten mid-cap stocks were the best performers in August. Are they in your portfolio?
<ol>
<li>Polestar Automotive Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSNY#NASDAQ">PSNY</a>) shares jumped 74.19%. It reported <a href="https://www.benzinga.com//node/40629765" target="_blank" rel="noreferrer noopener">strong second-quarter deliveries</a>.</li>
<li>Upstart Holdings, Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>) stock escalated 67.32% after the company reported better-than-<a href="https://www.benzinga.com//node/40322490" target="_blank" rel="noreferrer noopener">expected second-quarter results</a>.</li>
<li>Lumen Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUMN#NYSE">LUMN</a>) shares rocketed 58.13%. It reported <a href="https://www.benzinga.com//node/40204727" target="_blank" rel="noreferrer noopener">mixed second-quarter results</a>.</li>
<li>GDS Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NASDAQ">GDS</a>) shares rose 52.46%. The company reported a better-than-consensus <a href="https://www.benzinga.com//node/40487035" target="_blank" rel="noreferrer noopener">second-quarter loss per share</a>.</li>
<li>Tempus AI, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>) stock gained 51.17%. The stock got a boost from investments by Google<a href="https://www.benzinga.com//node/40419923" target="_blank" rel="noreferrer noopener"> and </a><a href="https://www.benzinga.com//node/40419923" target="_blank" rel="noreferrer noopener">SoftBank Group Corp</a><a href="https://www.benzinga.com//node/40419923" target="_blank" rel="noreferrer noopener"> (OTCPK: SFTBF)</a>.</li>
<li>Clear Secure, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YOU#NYSE">YOU</a>) shares were up 46.81%. It reported <a href="https://www.benzinga.com//node/40181525" target="_blank" rel="noreferrer noopener">better-than-expected quarterly results</a>.</li>
<li>Iovance Biotherapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IOVA#NASDAQ">IOVA</a>) stock jumped 42.89%. The company issued upbeat guidance for 2024 and 2025 and better-than-<a href="https://www.benzinga.com//node/40288203" target="_blank" rel="noreferrer noopener">expected second-quarter earnings</a>.</li>
<li>Evolent Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVH#NYSE">EVH</a>) shares escalated 42.51%. The company initiated an auction process after receiving takeover inquiries from private<a href="https://www.benzinga.com//node/40529349" target="_blank" rel="noreferrer noopener"> equity firms and healthcare providers</a>.</li>
<li>Semtech Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) stock rose 42.23%. It reported a <a href="https://www.benzinga.com//node/40587744" target="_blank" rel="noreferrer noopener">second-quarter earnings beat</a>.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) shares grew 42.07%. The company announced that it&#8217;s on track to launch five <a href="https://www.benzinga.com//node/40398813" target="_blank" rel="noreferrer noopener">satellites in early September</a>.</li>
</ol>
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40764288/affirm-shopify-and-starbucks-were-among-top-10-large-cap-best-performers-for-august-are-the-others" target="_blank" rel="noreferrer noopener">Affirm, Shopify And Starbucks Were Among Top 10 Large Cap Best Performers For August: Are The Others In Your Portfolio?</a></li>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40764325/intel-moderna-and-dollar-general-were-among-top-10-large-cap-losers-in-august-are-the-others-in-yo" target="_blank" rel="noreferrer noopener">Intel, Moderna And Dollar General Were Among Top 10 Large Cap Losers In August: Are The Others In Your Portfolio?</a></li>
</ul>
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UPST

AST SpaceMobile And Polestar Automotive Are Among Top 10 Best Performing Mid-Cap Stocks in August: Are The Others In Your Portfolio?

Tesla Inc (NASDAQ: <a href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) CEO Elon Musk has identified successors for his companies and he&#8217;s leaving his children out of the picture. He doesn&#8217;t even plan to hand over any of his<a href="https://www.benzinga.com/news/24/05/38662366/heir-apparent-departs-elon-musks-rumored-tesla-successor-leaves-north-america-to-sharpen-focus-on-ch"> voting shares to his kids</a>. 
What To Know:&nbsp;According to a Business Insider&nbsp;<a href="https://www.businessinsider.com/elon-musk-doesnt-plan-to-give-companies-to-kids-2023-5?utm_medium=social&amp;utm_source=facebook&amp;utm_campaign=business-sf&amp;fbclid=IwAR1_jxbgNbyCpKFtOG-kp0bJglsVvlRk09gsTI3MmeWujLQrtzbDOTJutKk">report</a>&nbsp;citing an interview at the Wall Street Journal&#8217;s CEO Council, Musk has identified recommended successors for his companies if something were to happen to him, but none of the candidates are his children.
The Tesla CEO actually believes it&#8217;s wrong for executives to pass companies down or even give voting shares to their offspring.&nbsp;
&#8220;I am definitely not of the school of automatically giving my kids some share of the companies &#8230; I think that&#8217;s a mistake,&#8221; Musk reportedly said in the interview.&nbsp;
Musk&#8217;s son X Æ A-12 might be the most well-known of Musk&#8217;s kids, given all of the attention he got for his unique name, but the billionaire has several other children, including Exa Dark Sideræl (nicknamed Y), who he secretly had with singer Grimes (Claire Boucher), and Vivian Jenna Wilson who was recently granted a name change from <a href="https://x.com/elonmusk/status/1815519696424161361?lang=en">Xavier Alexander Musk</a>, no longer wanting to be related to Musk &#8220;in any way, shape or form,&#8221; per Reuters. 
Musk isn&#8217;t the only one in the camp that believes fortunes shouldn&#8217;t be passed to children. Apple&#8217;s Steve Jobs wasn&#8217;t interested in legacy wealth building, and billionaire investor Warren Buffett only plans to leave a small percentage of his wealth to his kids — the rest has been <a href="https://www.benzinga.com/news/23/02/30950109/warren-buffett-theres-only-1-measure-of-success-without-it-life-is-a-disaster">pledged to philanthropy</a>.
See Also: <a href="https://www.benzinga.com/startups/24/09/40693497/warren-buffett-admitted-he-was-too-dumb-and-an-idiot-for-not-investing-in-amazon-early-on-but-finall">Warren Buffett Admitted He Was &#8216;Too Dumb&#8217; And An &#8216;Idiot&#8217; For Not Investing In Amazon Early On – But Finally Took The Plunge 5 Years Ago</a>
The Tesla CEO&nbsp;has already named&nbsp;potential successors at each of his companies&nbsp;if something were to happen to him.&nbsp;
&#8220;There are particular individuals identified &#8230;&nbsp;So in all cases, the board is aware of who [is] my recommendation,&#8221; Musk said.&nbsp;
The bigger issue is who would take over his voting shares, he said. He&#8217;s floated around the idea of creating an &#8220;educational institution&#8221; of some sort to control his shares.&nbsp;
Musk&#8217;s succession plans have been in focus ever since he acquired Twitter (X) for $44 billion and took the company private. Tesla investors continue to worry that Musk has his hand in too many cookie jars. Musk&#8217;s companies currently include Tesla, SpaceX, X (formerly Twitter), The Boring Company, Neuralink and xAI.
Read Next:
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<li><a href="https://www.benzinga.com/news/24/09/40700524/mark-cuban-tells-elon-musk-delete-your-account-after-tech-billionaire-calls-tucker-carlsons-latest-e">Mark Cuban Tells Elon Musk &#8216;Delete Your Account&#8217; After Tech Billionaire Calls Tucker Carlson&#8217;s Latest Episode On WW2 And Churchill &#8216;Worth Watching&#8217;</a></li>
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Photo: Shutterstock
Some elements of this story were previously reported by Benzinga and it has been updated.

TSLA

Elon Musk's Children Will Not Get Shares Of Tesla, SpaceX Or Billionaire's Other Companies: 'I Think That's A Mistake'

Ahead of the much-anticipated debate Tuesday night between Donald Trump and Kamala Harris, Trump has voiced his <a href="https://www.benzinga.com/news/24/09/40669286/harris-vs-trump-this-candidate-leading-in-numerous-polls-transforming-political-landscape">opinion on the &#8220;no artificial lifts&#8221; rule</a>.
What Happened: On Saturday, Trump took to Truth Social to express his views on the prohibition of &#8220;artificial lifts&#8221; for the upcoming debate. 
The encounter at the National Constitution Center in Philadelphia will be the first face-to-face encounter between Trump and Harris in a debate.
In his <a href="https://truthsocial.com/@realDonaldTrump/posts/113095938489707017">post</a>, Trump stated that &#8220;artificial lifts,&#8221; which are intended to give Harris a taller appearance, will not be allowed on the debate stage. It is unclear whether this is an official rule set by ABC or merely Trump&#8217;s speculation.
&#8220;No boxes or artificial lifts will be allowed to stand on during my upcoming debate with Comrade Kamala Harris,&#8221; Trump wrote. 
He referred to a past incident involving former New York Mayor Michael Bloomberg, who was allegedly denied a &#8220;lift&#8221; during a debate.
Also Read: <a href="https://www.benzinga.com/news/24/09/40761916/trump-vs-harris-majority-of-americans-anticipate-peaceful-2024-power-transfer-if-this-candidate-wins">Trump Vs Harris: Majority Of Americans Anticipate Peaceful 2024 Power Transfer If This Candidate Wins</a>
However, Trump&#8217;s claim about Bloomberg using a box during the 2020 Democratic primary debate remains unverified. 
&#8220;We had this out previously with former NYC Mayor Michael Bloomberg when he was in a debate, and he was not allowed a &#8216;lift.&#8217; It would be a form of cheating, and the Democrats cheat enough. &#8216;You are who you are,&#8217; it was determined!&#8221; Trump added in his note on the Truth Social.
For the record, Harris has previously claimed to stand at 5&#8217;4 and a half, reaching 5&#8217;7 and a half with heels. Trump, on the other hand, reportedly stands between 6&#8217;2 and 6&#8217;3.
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Why It Matters: The &#8216;no artificial lifts&#8217; rule has become a topic of discussion ahead of the debate. While it&#8217;s unclear whether this is an official rule or Trump&#8217;s speculation, it&#8217;s evident that height has been a point of contention in past debates. 
The upcoming face-off between Trump and Harris will certainly be watched with keen interest, with viewers likely to scrutinize every detail, including the candidates&#8217; heights.
Read Next:
<a href="https://www.benzinga.com/news/24/08/40301432/kamala-harris-surges-ahead-of-trump-in-key-states-young-americans-bank-on-harris-for-economic-reviva" target="_blank" rel="noreferrer noopener">Kamala Harris Surges Ahead Of Trump In Key States, Young Americans Bank On Harris For Economic Revival</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Politics

Trump Vs Harris: The Controversy Over 'No Artificial Lifts' Rule In Tuesday Debate: 'A Form of Cheating!'

These ten large-cap stocks were the worst performers in August. Are they in your portfolio?
<ol>
<li>Super Micro Computer, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) stock lost 34.89% in August. The company <a href="https://www.benzinga.com//node/40602417" target="_blank" rel="noreferrer noopener">delayed filing its 10-K</a>.</li>
<li>Dollar General Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DG#NYSE">DG</a>) stock decreased 30.95%. The company posted worse-than-expected second-quarter earnings, and many analysts cut the <a href="https://www.benzinga.com//node/40656935" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) stock dived 27.09%. The company posted a revenue miss for the second quarter, and <a href="https://www.benzinga.com//node/40132594" target="_blank" rel="noreferrer noopener">analysts slashed the price target</a>.</li>
<li>Temu parent PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) shares fell 24.81%. The company reported quarterly results, in which the CEO highlighted <a href="https://www.benzinga.com/news/earnings/24/08/40548945/temu-parent-pdd-posts-86-q2-topline-growth-stock-drops-after-ceo-flags-upcoming-challenges?_gl=1%2A2quf99%2A_gcl_au%2ANzQ5NDg4Nzg3LjE3MjI5NDg1NTA.%2A_ga%2AMTUwODg0NTczNy4xNzE1MTcxNjk4%2A_ga_V7ZK73W7N0%2AMTcyNTYyNjczNi4xMzIuMS4xNzI1NjQ0MzU2LjAuMC4w" target="_blank" rel="noreferrer noopener">challenges for the rest of the year</a>.</li>
<li>Intel Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) stock plummeted 24.13% after the company reported weak results and <a href="https://www.benzinga.com//node/40115276" target="_blank" rel="noreferrer noopener">a 15% headcount reduction plan</a>.</li>
<li>Tencent Music Entertainment Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TME#NYSE">TME</a>) stock declined 21.44%. It reported a second-quarter revenue miss and <a href="https://www.benzinga.com//node/40373910" target="_blank" rel="noreferrer noopener">analysts lowered the price target</a>.</li>
<li>Gold Fields Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GFI#NYSE">GFI</a>) shares went down 18.99%. It disclosed the acquisition of<a href="https://www.benzinga.com//node/40309407" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.benzinga.com//node/40309407" target="_blank" rel="noreferrer noopener">Osisko Mining</a><a href="https://www.benzinga.com//node/40309407" target="_blank" rel="noreferrer noopener"> for $1.57 billion in cash</a>.</li>
<li>Charles River Laboratories International, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRL#NYSE">CRL</a>) shares fell 18.57%. The company warned about softer demand trends from global biopharmaceutical <a href="https://www.benzinga.com//node/40222523" target="_blank" rel="noreferrer noopener">clients in the quarterly result</a>.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) <a href="https://www.benzinga.com//node/40514864" target="_blank" rel="noreferrer noopener">shares decreased 17.81%</a>.</li>
<li>Neurocrine Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBIX#NASDAQ">NBIX</a>) stock dived 17.04%. It presented topline data for its Phase 2 clinical study of NBI-1117568 (NBI-‘568) in <a href="https://www.benzinga.com//node/40632561" target="_blank" rel="noreferrer noopener">adults with schizophrenia</a>.</li>
</ol>
Also Read:
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<li><a href="https://www.benzinga.com/news/large-cap/24/09/40764288/affirm-shopify-and-starbucks-were-among-top-10-large-cap-best-performers-for-august-are-the-others" target="_blank" rel="noreferrer noopener">Affirm, Shopify And Starbucks Were Among Top 10 Large Cap Best Performers For August: Are The Others In Your Portfolio?</a></li>
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Intel, Moderna And Dollar General Were Among Top 10 Large Cap Losers In August: Are The Others In Your Portfolio?

<a href="https://www.benzinga.com/startups/24/09/40693497/warren-buffett-admitted-he-was-too-dumb-and-an-idiot-for-not-investing-in-amazon-early-on-but-finall">Warren Buffett</a>, the famously frugal billionaire with a nearly $138 billion net worth, is well-known for advocating fair taxation and social responsibility. However, despite his massive wealth, his potential Social Security benefit is pretty modest.
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</ul>
Social Security benefits are based on wages, not overall wealth or net worth. Buffett, who's kept his Berkshire Hathaway salary at a relatively low $100,000 a year, would receive around $3,245 a month if he were to claim Social Security. That's a far cry from the maximum benefit of $4,873 someone can get at age 70 in 2024.
<a href="https://www.benzinga.com/personal-finance/24/05/39011316/warren-buffett-was-asked-if-social-security-was-a-government-sponsored-ponzi-scheme-for-retirees">Buffett's perspective on Social Security</a> goes deeper than his benefit. During a 2005 Berkshire Hathaway annual shareholders meeting, he explained that if he ran the government, he would raise the Social Security wage taxation cap and "certainly increase the retirement age," reflecting his belief that wealthier Americans should contribute more to ensure the program's longevity. His views also align with the idea that a rich country should care for its young and old, ensuring financial security for all.
Trending: Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/connect-invest-real-estate-notes">These high-yield real estate notes that pay 7.5% &#8211; 9% make earning passive income easier than ever.</a>
Many Americans share this view – 85% in a 2014 survey said Social Security is more crucial than ever for a reliable retirement income.
It's no secret <a href="https://www.benzinga.com/personal-finance/24/05/38943129/social-security-fears-go-viral-should-you-claim-early-like-dave-ramsey-says">Social Security is facing serious funding issues</a>. The 2024 Trustees Report warns that the trust fund could run out by 2033, which might lead to benefit cuts. This has sparked debate about what to do next, including ideas like:
<ul>
<li>Raising the payroll tax cap (income over $168,600 isn't taxed for Social Security).</li>
<li>Increasing the retirement age to keep up with longer life spans.</li>
<li>Means-testing benefits, reducing or eliminating benefits for the wealthy.</li>
<li>Investing part of the trust fund in stocks, which comes with market risks.</li>
</ul>
See Also: Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg">How does it compare to the average?</a>
Interesting research also suggests that when you factor in Social Security, the wealth gap isn't as extreme as it seems. A 2023 study found that <a href="https://www.benzinga.com/personal-finance/24/04/38439971/should-you-begin-collecting-social-security-at-62-67-or-70-the-right-answer-may-depend-on-your-b">Social Security benefits</a> somewhat soften the rise in wealth inequality at the top.
Despite the funding worries, Social Security still has broad support. Surveys show that 77% of Americans think keeping the program is crucial, even if it means higher taxes for workers. And 83% back raising taxes on the wealthy to preserve it. Gallup polls from late 2023 show a more optimistic view of Social Security's future, with more people expecting to receive benefits when they retire and current retirees feeling confident about their benefits.
Trending: This billion-dollar fund has invested in the next big real estate boom,<a href="https://www.benzinga.com/money/fundrise-flagship-fund">here's how you can join for $10.</a>
It's unclear if Buffett is actually taking Social Security benefits, given his philanthropic stance and belief in fair taxation. This raises a big question: Should wealthy people get benefits they've paid into, or should it be reserved for those who need it more?
While there are potential challenges ahead, voices like Buffett's remind us of the importance of Social Security in providing a safety net for everyone. The goal is to <a href="https://www.benzinga.com/money/can-you-guess-how-many-americans-successfully-retire-with-1-million-saved">find a balance</a> that ensures the program remains strong and fair so it can continue offering that crucial security for all Americans.
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<li>Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a></li>
<li>Elon Musk&#8217;s secret mansion in Austin revealed through court filings.<a href="https://www.benzinga.com/money/elon-musk-secret-mansion-austin-nada"> Here&#8217;s how to invest in the city&#8217;s growth before prices go back up.</a></li>
</ul>

Personal Finance

Can You Guess How Big Billionaire Warren Buffett's Social Security Check Is? Here's A Hint – It's Not The Max

These ten large-cap stocks were the best performers in August. Are they in your portfolio?
<ol>
<li>Affirm Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>) shares escalated 66.58% in August. It reported&nbsp;strong&nbsp;fourth-quarter&nbsp;earnings and <a href="https://www.benzinga.com//node/40630056" target="_blank" rel="noreferrer noopener">upbeat&nbsp;first-quarter&nbsp;guidance</a>.</li>
<li>CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) stock jumped 34.99%. The company reported better-than-expected&nbsp;second-quarter&nbsp;results, and analysts boosted <a href="https://www.benzinga.com//node/40528470" target="_blank" rel="noreferrer noopener">stock price forecasts</a>.</li>
<li>Fortinet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTNT#NASDAQ">FTNT</a>) shares rose 34.11%. It reported strong second-quarter results and <a href="https://www.benzinga.com//node/40599688" target="_blank" rel="noreferrer noopener">issued&nbsp;above-estimate guidance</a>.</li>
<li>Nu Holdings Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NU#NYSE">NU</a>) stock upped 29.95%. The company reported strong&nbsp;<a href="https://www.benzinga.com//node/40368174" target="_blank" rel="noreferrer noopener">results for the&nbsp;second quarter</a>.</li>
<li>Kellanova (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/K#NYSE">K</a>) stock upped 29.91%. The company inked a deal to be bought by privately held <a href="https://www.benzinga.com//node/40364761" target="_blank" rel="noreferrer noopener">Mars</a><a href="https://www.benzinga.com//node/40364761" target="_blank" rel="noreferrer noopener"> for&nbsp;$83.50&nbsp;per share</a>.</li>
<li>Nutanix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTNX#NASDAQ">NTNX</a>) stock escalated 28.96%. It reported&nbsp;fourth-quarter results, and many analysts&nbsp;<a href="https://www.benzinga.com//node/40626089" target="_blank" rel="noreferrer noopener">boosted the stock's price target</a>.</li>
<li>Aspen Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AZPN#NASDAQ">AZPN</a>) shares rose 28.64%. The company reported better-than-<a href="https://www.benzinga.com//node/40226872" target="_blank" rel="noreferrer noopener">expected&nbsp;fourth-quarter results</a>.</li>
<li>MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) stock rocketed 28.37%.</li>
<li>Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) shares were up 27.33%. It posted a strong earnings report and several analysts&nbsp;<a href="https://www.benzinga.com//node/40268815" target="_blank" rel="noreferrer noopener">revised the price target</a>.</li>
<li>Starbucks Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) stock was up 25.91%. Chipotle Mexican Grill, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMG#NYSE">CMG</a>) CEO and Chairman Brian Niccol was named Starbucks' new Chairman and <a href="https://www.benzinga.com//node/40338228" target="_blank" rel="noreferrer noopener">Chief Executive Officer, effective September 9</a>.</li>
</ol>
Also Read:
<ul>
<li><a href="https://www.benzinga.com/news/large-cap/24/09/40764325/intel-moderna-and-dollar-general-were-among-top-10-large-cap-losers-in-august-are-the-others-in-yo">Intel, Moderna And Dollar General Were Among Top 10 Large Cap Losers In August: Are The Others In Your Portfolio?</a></li>
</ul>
Photo via Shutterstock.

AFRM

AZPN

CAVA

FTNT

MELI

NTNX

SBUX

SHOP

Affirm, Shopify And Starbucks Were Among Top 10 Large Cap Best Performers For August: Are The Others In Your Portfolio?

Jeff Bezos, the founder of Blue Origin, wants to significantly lower the cost of space travel. His goal is to make it more accessible to aspiring entrepreneurs and innovators.
What Happened: Bezos shared his vision during a tour of the Blue Origin production facility and Glenn launch pad in Cape Canaveral, Florida. The tour was documented by YouTuber Tim Dodd, also known as &#8220;Everyday Astronaut.&#8221;
Bezos emphasized that the main obstacle in space travel is not the technology but the cost. He expressed his aspiration for Blue Origin to make space travel so affordable that it could stimulate the creation of the next big space company by &#8220;two kids in a dorm.&#8221;
&#8220;Space travel is a solved problem. It&#8217;s been solved for 50 years. What&#8217;s unsolved is the cost,&#8221; Bezos stated in the <a href="https://www.youtube.com/watch?v=Hu8SlfmpKM4">video</a>. He is confident that addressing the cost issue will &#8220;open the heavens to humanity&#8221; and ignite &#8220;entrepreneurial dynamism in space.&#8221;
During the interview, Bezos said that he wants Blue Origin to make space travel so cheap that people can fly to the moon &#8220;100 times cheaper.&#8221;
&#8220;Solving the problem of cheap and easy space travel is what will really open the heavens to humanity and make possible the entrepreneurial dynamism in space that I just got to witness up close and personal over the last 20 years on the internet,&#8221; Bezos added.
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/01/36631415/this-amazon-applicants-interview-answer-earned-her-a-seat-3-feet-away-from-amazons-bezos" target="_blank" rel="noreferrer noopener">This Amazon Applicant's Interview Answer Earned Her A Seat 3 Feet Away From Jeff Bezos</a>
Bezos disclosed that the primary reason for his departure was to concentrate on Blue Origin. Although he remains involved with Amazon, especially in the AI sector, he is devoting the majority of his efforts to his space venture.
&#8220;If the minimum size to do any useful experiment is many, many millions of dollars, then you just can&#8217;t get, you know, two kids in a dorm room making the next amazing invention,&#8221; he said during the interview. &#8220;The barrier of entry is too high.&#8221;
Why It Matters: Bezos&#8217; vision for affordable space travel could revolutionize the industry, opening up new opportunities for innovation and entrepreneurship. 
By addressing the cost barrier, Blue Origin could potentially stimulate a new wave of space startups, fostering a new era of space exploration and commercialization. 
This could have far-reaching implications, not just for the space industry, but for various sectors that could benefit from space-based technologies and services.
Read Next
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This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

AMZN

'Kids In A Dorm Room': Jeff Bezos' Blueprint for Tomorrow's Space Leaders

A recent episode of "<a href="https://www.benzinga.com/personal-finance/24/09/40669326/31-year-old-inherits-10m-from-parent-he-never-knew-ramsey-show-hosts-offer-critical-advice-on-wh">The Ramsey Show</a>" featured a caller, Sarah, discussing a harrowing story of financial infidelity. Before Sarah was married, she had amassed a net worth of $1 million. Due to vast differences in her and her (now) husband's net worth, they signed a prenuptial agreement in which he stated that his net worth was $160,000. 
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<li>The average American couple has saved this much money for retirement —<a href="http://www.benzinga.com/money/smartasset"> How do you compare</a>?</li>
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</ul>
During their marriage, Sarah started to notice discrepancies in their finances. When confronting her husband, he always assured her everything was fine. After about three years of marriage, Sarah expressed that a particular event led her to put more pressure on him about their finances. That's when he finally admitted to stealing from her.&nbsp;
Determined to get to the bottom of it, Sarah demanded access to her husband's business accounts. That's when the full extent of his betrayal became clear. Her husband had stolen $286,000 from her accounts – money that was legally protected by their prenuptial agreement. To make matters worse, Sarah discovered that her husband had lied on the prenuptial, falsely claiming that his $160,000 net worth was free and clear when it was tied up in loans and lines of credit.
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Sarah was in shock. Her husband had drained their savings, leaving only two months of emergency funds, and had also accumulated $130,000 in personal debt. To complicate matters further, the couple has two young children under two, making Sarah's decisions even more difficult.
<a href="https://www.benzinga.com/personal-finance/24/08/40288004/the-ramsey-show-hosts-tell-65-year-old-retiree-to-start-pulling-social-security-instead-of-livin">Rachel Cruze</a>, co-host of "The Ramsey Show," expressed concern for the deceit Sarah had faced for years. She likened the betrayal to <a href="https://www.benzinga.com/personal-finance/24/03/37879066/kevin-oleary-warns-couples-maintain-your-own-financial-identity-but-indiana-university-study-say">financial infidelity</a>, equating it to the emotional damage of an affair. &#8220;You&#8217;re married to a liar,&#8221; Cruze said bluntly. &#8220;There&#8217;s something wrong. Deeply, deeply, deeply wrong with him.&#8221;
Cruze then laid it all out and told Sarah she needed to see a lawyer and start separating their finances immediately. Sarah revealed that she had already started that process and was working on securing a postnuptial agreement that would legally separate their debts and assets, ensuring that her husband's <a href="https://www.benzinga.com/personal-finance/24/07/40001551/do-i-have-to-support-my-financially-irresponsible-75-year-old-mother-suze-ormans-take-on-priorit">financial irresponsibility</a> would not jeopardize her and her children's future. The post-nup would reaffirm that his debts were his alone and that if she provided him with financial assistance, it would be repaid in full. 
See Also: <a href="https://www.benzinga.com/money/irs-finalizes-10-year-rule-adv">IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things &#8216;Even More Insanely Complicated&#8217;</a>
Despite the overwhelming betrayal, Sarah is hesitant to leave the marriage. "We have two very small children," she said. "And I know the statistics about growing up in a home with a broken household. I don&#8217;t want that for my children either. They&#8217;re just so young."
Cruze advised Sarah to start counseling if she wants to make the marriage work and said her husband would need to show a serious change of habit if she planned to stay with him.&nbsp;
While Sarah's story may have unique circumstances, financial infidelity is unfortunately common, particularly in younger generations. A recent study from Bankrate found that more than 40% of U.S. adults who are married or living together have kept financial secrets from their partners. 
Trending: The number of ‘401(k)' Millionaires is up 43% from last year —<a href="https://www.benzinga.com/money/401k-millionaires">Here are three ways to join the club.</a>
"It's not always easy to talk about money, but it's so important," says Bankrate's senior industry analyst Ted Rossman. "Financial secrets can take on a life of their own and undermine the relationship. In years of studying this, we've often found that the breach of trust has a greater impact than the dollars and cents. If you have a secret spending habit or undisclosed debt or a credit card or bank account that your spouse doesn't know about, I think it's best to come clean right away."
If you&#8217;re dealing with financial deception or safeguarding your assets in a marriage, consulting a <a href="https://www.benzinga.com/money/best-online-financial-advisors">financial advisor</a> can provide valuable guidance to secure your financial future and protect your interests.
Read Next:
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<li>Miami is expected to take New York's place as the U.S. Financial Capital.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Here's how you can invest in the city before that happens</a>.</li>
<li>Elon Musk and Jeff Bezos are bullish on one city that could dethrone New York and become the new financial capital of the US.<a href="https://www.benzinga.com/money/miami-take-new-yorks-place-financial-capital"> Investing in its booming real estate market has never been more accessible.</a></li>
</ul>

$1M Net Worth Shattered: Ramsey Hosts Tell Wife To Act Fast As Husband Steals $286,000 And Lies On Prenup

&nbsp;
Ivonescimab Monotherapy Reduced the Risk of Disease Progression or Death by 49% Compared to Pembrolizumab Monotherapy in First-Line Treatment of Patients with PD-L1 Positive Advanced NSCLC in China
Summit to Initiate HARMONi-7, a Phase III Trial in First-Line PD-L1 High, Advanced NSCLC, in Early 2025
Ivonescimab Is the First Drug to Achieve Clinically Meaningful Benefit over Pembrolizumab in a Randomized Phase III Clinical Trial in NSCLC
Median PFS of 11.14 Months vs. 5.82 Months, Respectively, for Patients Receiving Ivonescimab vs. Pembrolizumab; PFS Improvement Was Observed Broadly in Patients Across Subgroups, including PD-L1 High and Low Expressing Tumors, Squamous and Non-Squamous Histologies
Comparable Serious Treatment-Related Adverse Events and TRAE-Led Discontinuation Rates Were Observed; Serious TRAEs were 20.8% vs. 16.1%, Respectively, in Ivonescimab and Pembrolizumab Arms
Encouraging Perioperative NSCLC Phase II Data Also Featured in an Oral Presentation at WCLC 2024
Three Additional Phase II Solid Tumor Settings beyond NSCLC Featuring Ivonescimab to be Presented at ESMO 2024
Conference Call to be Held at 8:30am ET on Monday, September 9, 2024

SMMT

Summit Therapeutics Announced Ivonescimab Monotherapy Reduced the Risk of Disease Progression or Death by 49% Compared to Pembrolizumab Monotherapy in First-Line Treatment of Patients with PD-L1 Positive Advanced NSCLC in China

Taiwan's Economy Minister,&nbsp;Kuo Jyh-huei, expressed that former President&nbsp;Donald Trump&nbsp;misunderstood Taiwan's <a target="_blank" href="https://www.benzinga.com/news/24/09/40673345/trump-misunderstands-taiwans-role-in-chip-industry-says-economy-minister-the-president-has-a-lot-on" rel="noreferrer noopener">role in the semiconductor industry</a>.
The Brazilian government is considering taxing large tech companies. It may also implement a 15% global minimum tax on multinational corporations <a href="https://www.benzinga.com/news/24/09/40680965/brazil-considers-tax-on-big-tech-companies-to-meet-2025-fiscal-goals-after-banning-elon-musks-x-and" target="_blank" rel="noreferrer noopener">to achieve its 2025 fiscal target</a>.
Read: <a href="https://www.benzinga.com/news/24/09/40682766/while-bill-gates-elon-musk-and-sam-altman-debate-ais-impact-on-jobs-it-might-not-be-all-that-distres" target="_blank" rel="noreferrer noopener">While Bill Gates, Elon Musk, And Sam Altman Debate AI&#8217;s Impact On Jobs, It Might Not Be All That Distressing And Offer A Productivity Boost</a>
Gaming
Ubi Soft Entertainment ADR&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/UBSFY#OTC">UBSFY</a>) recent release of Star Wars Outlaws, developed by&nbsp;Massive Entertainment, has failed to deliver the <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40717689/star-wars-outlaws-sales-slump-ubisoft-shares-hit-near-10-year-low" rel="noreferrer noopener">financial boost the&nbsp;company had hoped for</a>.
Rocksteady Studios&nbsp;has reportedly laid off several employees following the disappointing performance of its latest title,&nbsp;Suicide Squad: Kill the Justice League, which cost Warner Bros. Discovery Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40698283/warner-bros-discoverys-rocksteady-studios-cuts-jobs-after-suicide-squad-flop-report" rel="noreferrer noopener">$200 million in revenues</a>.
Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) CFO&nbsp;Hiroki Totoki&nbsp;admitted that the company, despite its impressive portfolio, lacks enough intellectual properties (IP) that <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40741541/sony-cfo-admits-we-dont-have-enough-ips-we-fostered-from-the-beginning-can-sony-compete-wit" rel="noreferrer noopener">it has&nbsp;&#8220;fostered from the beginning</a>.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/general/gaming/24/09/40740578/differentiation-is-key-nyan-heroes-ceo-talks-unique-ip-new-playtest-features-on-epic-games-store" rel="noreferrer noopener">&#8216;Differentiation Is Key&#8217;: Nyan Heroes CEO Talks Unique IP, New Playtest Features On Epic Games Store</a>
Smartphones
Amid ongoing debates about regulating teen smartphone use,&nbsp;Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is reportedly opposing legislative efforts requiring it to <a target="_blank" href="https://www.benzinga.com/government/24/09/40674661/apple-gears-up-to-push-back-against-legislation-enforcing-age-restrictions-in-app-store-report" rel="noreferrer noopener">enforce age restrictions on apps</a>.
Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40674140/huawei-plans-to-one-up-apples-iphone-16-with-disruptive-product-launch-says-it-has-turned-science-fi" rel="noreferrer noopener">Huawei Plans To One-Up Apple&#8217;s iPhone 16 With &#8216;Disruptive&#8217; Product Launch, Says It Has &#8216;Turned Science Fiction To Reality&#8217; After 5 Years Of Research</a>
Apple could likely discontinue some of its products&nbsp;following its annual iPhone event on Sept. 9. Following the keynote, these Apple products are expected to <a target="_blank" href="https://www.benzinga.com/news/24/09/40680904/7-products-apple-will-likely-discontinue-next-week-after-iphone-16-launch" rel="noreferrer noopener">be removed from the Apple Store</a>.
Apple has reportedly decided to incorporate&nbsp;organic light-emitting diode or OLED displays&nbsp;in all&nbsp;iPhone&nbsp;models, including the <a target="_blank" href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi" rel="noreferrer noopener">lower-priced&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi" rel="noreferrer noopener">iPhone SE</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40699698/apple-reportedly-plans-to-switch-to-oled-for-all-iphones-starting-2025-not-just-the-top-tier-flagshi" rel="noreferrer noopener">, from 2025</a>.
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40713896/apples-glowtime-event-will-the-iphone-16-shine-or-fizzle" rel="noreferrer noopener">Apple&#8217;s Glowtime Event: Will The iPhone 16 Shine Or Fizzle?</a>
TV, Streaming Platform &amp; Social Media
A failed distribution agreement between&nbsp;Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>) and&nbsp;pay-TV provider&nbsp;DirecTV,&nbsp;owned by&nbsp;AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and&nbsp;TPG Capital, has led to more than <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40670016/disney-and-directv-fail-to-reach-deal-over-11m-subscribers-face-blackout-ahead-of-nfl-seaso" rel="noreferrer noopener">11 million&nbsp;subscribers losing access</a>.
Also Read:<a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40670643/netflix-wants-to-keep-you-hooked-by-unleashing-the-power-of-dubbed-reality-shows-uses-south" rel="noreferrer noopener"> Netflix Wants To Keep You Hooked By Unleashing The Power Of Dubbed Reality Shows, Uses South Korea As Proving Ground</a>
South Korean law enforcement agencies&nbsp;have&nbsp;launched an investigation&nbsp;into&nbsp;the encrypted messaging platform&nbsp;Telegram for its alleged involvement in the dissemination of <a target="_blank" href="https://www.benzinga.com/news/24/09/40680081/alleged-deepfake-sex-crimes-south-korea-puts-telegram-under-the-microscope" rel="noreferrer noopener">sexually explicit deepfake content</a>.
Pavel Durov, the founder of&nbsp;Telegram, who is currently&nbsp;under investigation in France, has publicly criticized French authorities for detaining him instead o<a target="_blank" href="https://www.benzinga.com/news/24/09/40743743/telegram-founder-pavel-durov-slams-france-in-first-public-comments-since-detention-still-trying-to-u" rel="noreferrer noopener">f addressing their complaints to his company</a>.
YouTube&nbsp;has taken down the&nbsp;Tenet Media&nbsp;channel following a U.S. <a target="_blank" href="https://www.benzinga.com/news/24/09/40744282/youtube-shuts-down-tenet-media-channel-following-us-indictment-right-wing-influencers-say-victims-of" rel="noreferrer noopener">Department of Justice indictment</a>.
E-Commerce
In a significant move, Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) is reportedly gearing up to revamp its voice assistant, Alexa, using&nbsp;Anthropic's Claude AI models to replace its own AI. The new version, set for an October release, is designed to <a target="_blank" href="https://www.benzinga.com/news/24/08/40650406/amazon-leverages-anthropics-claude-ai-to-transform-alexa-before-holiday-season-report" rel="noreferrer noopener">answer complex queries more efficiently</a>.
In recent developments, the U.S. Consumer Products Safety Commission (CPSC) has called for an investigation into e-commerce retailers&nbsp;Shein&nbsp;and PDD Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDD#NASDAQ">PDD</a>) owned&nbsp;Temu. The demand comes in light of allegations regarding the sale of &#8220;deadly baby <a target="_blank" href="https://www.benzinga.com/24/09/40701030/us-demands-probe-into-shein-and-temu-over-deadly-baby-products" rel="noreferrer noopener">and toddler products&#8221; on these platforms</a>.
Technology
In an effort to bolster supply chain resilience, Taiwan's leading chip manufacturers are set to begin domestic production of neon gas by 2025, in partnership with local steel and gas firms. Apple and NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) key chip suppliers, Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>), Winbond, and United Microelectronics Corporation <a href="https://www.benzinga.com/news/24/09/40686890/apple-nvidia-key-supplier-tsmc-leads-taiwanese-chip-giants-to-localize-neon-gas-production-by-2025" target="_blank" rel="noreferrer noopener">(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMC#NYSE">UMC</a>) are leading this initiative</a>.
Days after Meta Platforms, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>) CEO&nbsp;Mark Zuckerberg said that the&nbsp;Joe Biden administration &#8220;pressured&#8221;&nbsp;Facebook to censor certain content on its platforms, the U.S. Department of Justice unveiled a fresh strategy <a target="_blank" href="https://www.benzinga.com/news/24/09/40700150/doj-revamps-social-media-strategy-on-combating-foreign-threats-days-after-meta-ceo-mark-zuckerberg-s" rel="noreferrer noopener">to deal with foreign threats</a>.
In a bold move to penetrate the U.S. point-of-sale (POS) payments market, PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) is integrating its debit card with&nbsp;Apple&#8216;s mobile wallet and <a target="_blank" href="https://www.benzinga.com/fintech/24/09/40731875/paypal-ventures-into-in-person-payments-with-apple-pay-integration-and-cashback-rewards" rel="noreferrer noopener">offering different cashback rewards</a>.
Elon Musk
Tesla, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>)&nbsp;and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk&nbsp;have threatened&nbsp;to seize Brazilian government assets&nbsp;unless property belonging to his companies&nbsp;X, <a target="_blank" href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu" rel="noreferrer noopener">formerly&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu" rel="noreferrer noopener">Twitter</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40679667/elon-musk-says-brazilian-government-assets-can-be-seized-after-x-spacex-property-confiscated-hope-lu" rel="noreferrer noopener">&nbsp;and SpaceX, are returned</a>.
Elon Musk's satellite broadband company,&nbsp;Starlink, has decided to comply with a Brazilian&nbsp;court order to block access&nbsp;to social media platform&nbsp;X, formerly&nbsp;Twitter,&nbsp;in Brazil,&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/09/40699448/elon-musks-starlink-bows-to-brazils-top-court-blocks-access-to-x-in-the-country-we-continue-to-pursu" rel="noreferrer noopener">reversing its previous stance</a>.
Related: <a target="_blank" href="https://www.benzinga.com/news/24/09/40680467/after-x-ban-elon-musks-starlink-defies-brazilian-court-order-to-block-social-media-platform" rel="noreferrer noopener">After X Ban, Elon Musk&#8217;s Starlink Defies Brazilian Court Order To Block Social Media Platform</a>
Twitter has won an appeal against a&nbsp;California law that mandates&nbsp;social media companies to disclose their policies <a target="_blank" href="https://www.benzinga.com/news/24/09/40722358/elon-musks-x-triumphs-in-appeal-over-california-law-on-content-moderation-policies-congrats-for-defe" rel="noreferrer noopener">against disinformation and hate speech</a>.
A significant number of advertisers plan to reduce their spending on X in 2025. This decision stems from concerns about the platform's <a href="https://www.benzinga.com/news/24/09/40724275/elon-musks-x-faces-26-ad-spend-decline-by-2025-amid-steep-decline-in-brand-safety-survey-reveals" target="_blank" rel="noreferrer noopener">association with contentious content</a>.
Elon Musk announced the beta launch of the X TV app, a new venture of the social media <a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">platform </a><a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">X</a><a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">, formerly </a><a href="https://www.benzinga.com/news/24/09/40681098/elon-musks-x-tv-beta-version-now-live-on-android-tv-heres-everything-you-need-to-know" target="_blank" rel="noreferrer noopener">Twitter</a>.
Artificial Intelligence (AI)
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) has managed to&nbsp;avoid a comprehensive U.K. probe&nbsp;into its recruitment<a target="_blank" href="https://www.benzinga.com/news/24/09/40722165/microsoft-avoids-uk-antitrust-investigation-into-acquisition-of-certain-assets-from-inflection-ai" rel="noreferrer noopener"> of staff from startup&nbsp;</a><a target="_blank" href="https://www.benzinga.com/news/24/09/40722165/microsoft-avoids-uk-antitrust-investigation-into-acquisition-of-certain-assets-from-inflection-ai" rel="noreferrer noopener">Inflection AI</a>.
Alibaba Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>)&nbsp;is stepping up its&nbsp;U.S. expansion&nbsp;with&nbsp;a new AI-powered sourcing tool&nbsp;designed&nbsp;to simplify the <a target="_blank" href="https://www.benzinga.com/news/24/09/40744024/alibaba-boosts-us-expansion-with-new-ai-sourcing-tool-despite-festering-tensions-between-beijing-and" rel="noreferrer noopener">sourcing process&nbsp;for American buyers</a>.
OpenAI&nbsp;CEO&nbsp;Sam Altman&nbsp;reportedly plans to target the U.S. for the expansion of the&nbsp;artificial intelligence infrastructure project, which could <a target="_blank" href="https://www.benzinga.com/news/24/09/40700567/openai-ceo-sam-altmans-ai-infrastructure-plan-worth-tens-of-billions-of-dollars-to-include-investors" rel="noreferrer noopener">cost "tens of billions of dollars."</a>
Safe Superintelligence&nbsp;(SSI),&nbsp;co-founded by&nbsp;Ilya Sutskever, has raised $1 billion to develop <a target="_blank" href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma" rel="noreferrer noopener">advanced artificial intelligence systems</a>.
Leading online dating platforms such as&nbsp;Match Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>), which owns&nbsp;Tinder&nbsp;and&nbsp;Hinge,&nbsp;Bumble Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>), and&nbsp;Grindr Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRND#NYSE">GRND</a>) are either developing&nbsp;or testing AI tools and&nbsp;chatbot assistants designed to generate conversation starters, build user profiles, <a target="_blank" href="https://www.benzinga.com/general/entertainment/24/09/40670481/struggling-to-connect-on-tinder-grindr-or-bumble-dating-apps-now-have-an-ai-wingman-for-you" rel="noreferrer noopener">and provide feedback on user interactions</a>.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/24/09/40673093/y-combinators-paul-graham-recalls-when-airbnb-ceo-brian-chesky-found-success-by-imitating-this-steve" rel="noreferrer noopener">Y Combinator&#8217;s Paul Graham Recalls When Airbnb CEO Brian Chesky Found Success By Imitating This Steve Jobs Strategy In Running Apple: Elon Musk Thinks It Is &#8216;Worth Reading&#8217;</a>

BABA

BMBL

GRND

MSFT

MTCH

NVDA

PYPL

Sony Group Corporation American Depositary Shares

SONY

UBSFY

Consumer Tech News (Sep 1-Sep 7): Elon Musk Launches Beta Version Of X TV, Alibaba Launches AI To Help American Buyers & More

Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40699595/jim-cramer-still-thinks-nvidia-could-go-lower-but-cautions-investors-against-panic-">shares fell about 14% in the week ended Sept. 6</a> amid macro concerns. On Friday, portfolio manager and founder of Niles Investment Management Dan Niles weighed in on what&#8217;s in store for the artificial intelligence stalwart as well as the technology sector per se in the near and medium term.
What&#8217;s Ailing Techs: The weaker sentiment toward technology stocks is due to the fact that it is becoming clearer for investors that companies are spending a ton of money on AI, and even as the spending on AI climbs, revenue forecasts are going down, <a href="https://www.youtube.com/watch?v=iu0TcgvIJio">said</a> Niles in an interview with CNBC.
The quarterly reports from the three biggest hyperscalers – namely Alphabet, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Microsoft Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) and Amazon, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) – showed each of them upped the amount they were going to be spending on AI infrastructure, he noted. &#8220;So at a certain point, you are spending a lot of money but you will want to see a return,&#8221; he added.
To make his case, Niles noted that post COVID-19, Nvidia&#8217;s revenue growth surged to 80% year-over-year and then there was the hangover when demand started to slow down. These 3 big hyperscalers started to slow their spending and Nvidia&#8217;s revenue growth turned negative to a -20% and the stock went down 66% through the digestion phase, he said.
AI spending is much more rapid than what was seen during the Internet infrastructure build-out, Nile said. This is evident from the fact that Nvidia&#8217;s revenues rose by five times since the launch of the ChatGPT, he said. Much like post-COVID, things started to slow down at the big internet companies that were spending on infrastructure and the forward numbers are starting to come lower, he added. 
Time To Diversify Out Of Techs? Niles said he thinks there is still a lot of room to spend. &#8220;You have a phase you have to go through. I firmly believe in the next several years that Nvidia&#8217;s revenues will be able to double from current levels and the stock will be able to double as well,&#8221; he said.
Looking at areas outside the tech sector to put money in, Niles said it could be time for consumer staples, utilities, and telecom services to shine when the Federal Reserve begins to cut rates. He noted since July 16 when the S&amp;P 500 peaked, it is down about 5% or so and the equal-weighted S&amp;P 500, though, was down about 70 basis points. This compares to the Magnificent seven&#8217;s drop of about 11% or so, he said.
&#8220;So, I think investors need to think where is the wind at my sails,&#8221; Niles said. The portfolio manager said there is definitely going to be rate cuts and the only uncertainty there is the number of cuts between now and the end of the year. There would be more in the next year, he added.
Niles also said he does not foresee a recession as the job openings are now more than the number of people who want employment. &#8220;In a services-led economy, it&#8217;s hazard to see how you end up with a recession in that environment,&#8221; he said.

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Nvidia Down 14% Last Week – No Problem, Says Portfolio Manager, As He Sees Revenue And Stock Doubling Over In Next Several Years

NBA star Chris Paul has shared insights into his family values and career aspirations.
What Happened: Chris Paul, the point guard for the Golden State Warriors, has unveiled his family-centric viewpoint in his book, "Sixty One: Life Lessons From Papa, On and Off the Court."
The book serves as a homage to Paul&#8217;s late grandfather, Nathaniel Jones, who had a profound influence on his life. As detailed by Rolling Out, &#8220;Jones was Paul's mentor and imparted many life lessons to him at a young age.&#8221;
The title &#8220;Sixty One&#8221; is a symbolic reference to a high school game that Paul played following his grandfather&#8217;s demise, in which he scored 61 points, each point representing a year of his grandfather&#8217;s life.
In a podcast released earlier, Paul <a href="https://www.youtube.com/watch?v=ostVkItIsa0">said</a>, "When I think about my grandfather and losing him, a lot of times when I'm riding around the city is when I'm thinking of, ‘Oh, me and Papa used to go eat there after church, or we used to go do this and do that,' and now at this point in life, I try to share all those stories with my kids."
Also Read: <a href="https://www.benzinga.com/news/24/08/40666713/mark-cubans-nba-strategy-for-klay-thompson-with-mavericks-obviously-the-big-addition-was-klay-hopefu">Mark Cuban&#8217;s NBA Strategy for Klay Thompson With Mavericks: &#8216;Obviously The Big Addition Was Klay, Hopefully His Life Is Going To Be A Lot Easier&#8217;</a>
"It's one of those things where you really don't realize what you have until it's gone," Paul&nbsp;added during the interview. "So, my brother, we fought all the time over the front seat. Over this and that, and then when we dropped them off to school, it's when I missed them because you realize that all those moments you start appreciating the fights 'cause you had somebody to do it with."
"Obviously, it's that elusive championship, you know, so going to a team with guys who have that pedigree,e they've shown the ability to do it over and over again with a coaching staff with the prime time organization," he&nbsp;said.
"So, as long as I've been playing, I still love learning, you know, so I'm excited about going into this team, this organization, and seeing how I can be a piece or just be part of the puzzle to help us, to help our team, win," Paul told the outlet. 
Why It Matters: Chris Paul&#8217;s book not only offers an intimate look into his personal life and values but also underscores the importance of family support in shaping successful careers. His tribute to his grandfather highlights the role of mentorship in personal and professional development.
Furthermore, Paul&#8217;s expressed ambitions reflect his commitment to the Golden State Warriors and his determination to contribute to the team&#8217;s success. This could potentially inspire his teammates and fans alike, reinforcing the significance of team spirit and individual contribution in sports.
Overall, the release of &#8220;Sixty One&#8221; adds a new dimension to Paul&#8217;s public persona, revealing the man behind the basketball player and offering valuable life lessons to his readers.
Read Next
<a href="https://www.benzinga.com/news/24/09/40668907/wedbushs-dan-ives-equates-nvidias-market-stature-to-lebron-james-early-career">Wedbush&#8217;s Dan Ives Equates Nvidia&#8217;s Market Stature To Lebron James&#8217; Early Career</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Sports

NBA Star Chris Paul Says To Prioritize Family: 'You Really Don't Realize What You Have Until It's Gone'

Fully electric vehicles (EVs) have grabbed much of the spotlight in the race toward greener driving. Still, <a href="https://www.benzinga.com/news/24/02/37356850/top-10-cars-of-the-year-dominated-by-hybrids-plug-ins-and-evs-bmw-outshines-among-auto-brands-jeep-a">plug-in hybrid electric vehicles</a> (PHEVs) are quietly gaining fans across the U.S. While EVs promise an emissions-free future, many drivers still worry about range anxiety and the lack of charging infrastructure. 
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Enter PHEVs – offering the best of both worlds with an electric motor for short trips and a gas engine for longer ones. And as dealers know all too well, nothing grabs a buyer's attention quite like the words, "It's $70 a month cheaper than gas." By 2029, about 360,000 plug-in hybrids are expected to be sold each year.
<h2 class="wp-block-heading">Plug-In Hybrids Are The Rising Stars</h2>
After years of sitting on the sidelines, PHEVs are enjoying a resurgence. In the U.S., they're becoming more popular as a middle-ground option between traditional gas-powered and fully electric vehicles. In 2024 alone, the <a href="https://www.benzinga.com/markets/equities/24/08/40339676/global-ev-boom-continues-as-china-outpaces-europe-us">PHEV market in the U.S.</a> is projected to hit $18.8 billion in revenue, with sales expected to grow steadily over the next few years. 
Trending: General Motors and other leaders revealed to be<a href="https://www.benzinga.com/money/energyx"> investing in this revolutionary lithium start-up — allowing easy entry by launching at just $9.50/share with a $1,000 minimum.</a>
What's driving this growth? Consumers are increasingly looking for sustainable options and government incentives – such as federal tax credits – make PHEVs attractive.&nbsp;
Some buyers, like Bria Adams, a 28-year-old firefighter from Massachusetts, were initially skeptical of hybrids but changed their minds when they saw how much they could save. "I never thought I'd drive a hybrid," Adams told The Wall Street Journal. "But when I found out my Jeep Wrangler plug-in hybrid was $200 cheaper to lease than the gas version, I was sold."
<h2 class="wp-block-heading">Why Hybrids Are Winning Over Americans</h2>
The allure of plug-in hybrids goes beyond cost savings. These vehicles let drivers go electric for short trips, often around 20-40 miles, before switching to a gas engine for longer distances. For daily commutes and errands, one rarely needs to stop at the gas station, cutting fuel costs significantly. And because the car can run on gas when needed, range anxiety – one of the biggest concerns with fully electric vehicles – is a nonissue.
The sales figures show that plug-in hybrids are becoming more popular. In the second quarter of 2024, they made up <a href="https://www.eia.gov/todayinenergy/detail.php?id=62924">2% of all light-duty vehicle sales</a> in the U.S., a small but important increase from the previous year. Overall, hybrid sales jumped by over 30% as more buyers realized they could enjoy the benefits of gas and electric power.
See Also: Teens may never need wisdom teeth removed thanks to this MedTech Company – <a href="https://www.benzinga.com/money/triagenics">Be an early investor for just $300 for 100 shares!</a>
<a href="https://www.benzinga.com/government/24/06/39244736/byd-boss-says-chinese-evs-worrying-many-foreign-politicians-if-you-are-not-strong-enough-they-will-n">In China, PHEVs are now competitively priced</a>, often cheaper than gas and electric vehicles. It&#8217;s a different story in the U.S., though. They're still among the most expensive options, averaging $65,300 in 2024.&nbsp;
However, thanks to government incentives and aggressive discounts from manufacturers, PHEVs can sometimes be cheaper to lease or buy than their gas-powered counterparts. The Jeep Wrangler 4xe, for example, comes with hefty manufacturer discounts of up to $12,000, plus a <a href="https://www.benzinga.com/markets/penny-stocks/23/12/36323657/the-7500-instant-cash-rebate-new-ev-tax-credits-implications-from-consumers-to-domestic-supp">$7,500 federal tax credit</a> for leased models.
These savings turn many skeptical shoppers into hybrid converts. As one dealer put it, many people come in and say, "I don't want a hybrid." But they&#8217;re suddenly interested when they find out it's cheaper than gas.
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Americans Are Getting Swooned By Plug-In Hybrids. "I Don't Want A Hybrid," They Say – Until They Hear It's $70 A Month Cheaper Than Gas

The expected release of Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>)&#8217;s iPhone 16 at its Monday "Glowtime" event has been accompanied by last-minute leaks, hinting at enhanced camera features and a <a href="https://www.benzinga.com/24/06/39446797/apples-ai-rollout-slimmer-devices-and-vision-pros-future-this-week-in-appleverse">touch-sensitive capture button</a>.
What Happened: A recent report suggests that the iPhone 16 Pro is set to offer 4K video recording at up to 120fps, a significant upgrade from the current iPhone 15 Pro range&#8217;s capture speed. 
This enhancement will enable users to achieve up to 4x slow-motion effects at the camera's highest resolution.
The report <a href="https://www.forbes.com/sites/paulmonckton/2024/09/07/apple-iphone-16-launch-last-minute-leaks-emerge/">by</a> Forbes also indicates that Apple has been experimenting with 8K video recording on the iPhone 16 Pro. However, this feature may be held back for the iPhone 17 Pro range, as the next iteration is expected to sport a higher-resolution zoom lens.
Details have also surfaced about the iPhone&#8217;s new touch-sensitive capture button. This innovative feature, capable of performing different actions based on how it is pressed or slid, is anticipated to transform the way users take photos with their iPhones.
Also Read: <a href="https://www.benzinga.com/news/24/08/40429457/apples-tabletop-robot-the-future-of-home-technology-or-a-potential-misstep">Apple&#8217;s Tabletop Robot: The Future Of Home Technology Or A Potential Misstep?</a>
Apple is set to officially announce the iPhone 16 models and other products at its "Glowtime" event, scheduled for Monday at 10 a.m. PT.
Why It Matters: The leaked features of the iPhone 16 Pro suggest that Apple continues to prioritize camera capabilities, a key selling point for its devices. 
The introduction of a touch-sensitive capture button could redefine the user experience, offering a more intuitive and versatile way to capture moments. 
The potential inclusion of 8K video recording in future models also signifies Apple&#8217;s commitment to staying at the forefront of technological advancements. 
These enhancements could help Apple maintain its competitive edge in the fiercely contested smartphone market.
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This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Apple iPhone 16 Leaks: Get Ready For Unmatched Camera Capabilities And Much More

Fidelity Investments&#8216; second-quarter retirement analysis reveals a significant increase in the number of retirement millionaires, with 401(k) millionaires rising 2.5% to 497,000 and IRA millionaires increasing 6% to 398,594. This growth marks the third consecutive quarter of expansion for retirement savers&#8217; assets, driven by strong contribution levels and favorable market conditions.
The analysis shows that average account balances have reached near-record highs. IRA balances increased to $129,200, while 401(k) balances rose to $127,100, representing substantial growth compared to five and 10 years ago. Generation X account holders have made particularly notable progress, with IRA contributions at their highest level in five years.
Despite these positive trends, Northwestern Mutual&#8216;s &#8220;2024 Planning &amp; Progress Study&#8221; indicates that many millionaires still harbor financial uncertainties. Only 32% of American millionaires consider themselves &#8220;wealthy&#8221; and nearly half believe their financial plans need improvement &#8211; a huge opportunity for financial advisors. Their primary concerns revolve around the impact of taxes on retirement savings, with many wondering how much money they&#8217;ll need for a comfortable retirement and whether they might outlive their savings.
To address these concerns, millionaires are adopting various strategies. The most common approaches include making strategic withdrawals from traditional and Roth accounts to stay in lower tax brackets, using a mix of traditional and Roth retirement accounts and making strategic charitable donations. Many are also utilizing health savings accounts, permanent life insurance and annuities for their tax benefits. Choosing between these products, and getting the mix right, is difficult, and a great avenue for financial advisors to bring value to their clients.
The study reveals that millionaires are significantly more likely to work with financial advisers, with 69% doing so compared to 33% of the general population. This trend underscores the value placed on professional guidance in navigating complex financial landscapes and addressing retirement concerns.
While the growth in retirement millionaires is encouraging, the persistent financial uncertainty among this group highlights the ongoing challenges in retirement planning. It emphasizes the importance of comprehensive financial strategies that address not only wealth accumulation but also long-term financial security and tax implications in retirement and points to the needs that financial advisors can help fill.
Image via Unsplash.

Financial Advisors

Record Number Of '401(k) Millionaires' Even In Times Of Financial Uncertainty

Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) and the International Association of Machinists and Aerospace Workers (IAM) have successfully negotiated a labor agreement, thereby potentially averting a strike.
What Happened: The agreement, announced early Sunday, includes a 25% wage increase over four years, along with enhancements to healthcare costs and retirement benefits.
According to the report <a href="https://www.cnbc.com/2024/09/08/boeing-and-union-reach-a-labor-deal-potentially-averting-a-strike.html">by</a> CNBC, the union represents around 33,000 Boeing employees at factories in the Seattle area and Oregon.
Boeing has also pledged to construct its next airplane in the Pacific Northwest, as per the union&#8217;s statement. The agreement is yet to receive approval from the workers, with a vote scheduled for September 12.
The existing agreement was due to expire after Thursday, and a strike could have been initiated immediately if no deal was reached. The union had previously been advocating for more than a 40% wage increase.
Also Read: <a href="https://www.benzinga.com/news/24/09/40681758/boeing-shares-dip-in-pre-market-as-32k-workers-plan-companys-first-strike-in-16-years">Boeing Shares Dip In Pre-Market As 32K Workers Plan Company&#8217;s First Strike In 16 Years</a>
Stephanie Pope, chief executive of Boeing&#8217;s commercial airplane unit, stated, &#8220;The contract offer provides the largest-ever general wage increase, lower medical cost share to make healthcare more affordable, greater company contributions toward your retirement, and improvements for a better work-life balance.&#8221;
Why It Matters: This agreement comes as a relief for both Boeing and its employees, as a strike could have led to significant production delays and financial losses. 
The deal not only addresses the wage increase demands of the workers but also promises improvements in healthcare and retirement benefits, which are crucial aspects of employee welfare.
Moreover, Boeing&#8217;s commitment to build its next airplane in the Pacific Northwest is a strategic move that could boost local economies and reinforce its relationship with the union. 
However, the final decision rests with the workers, who are scheduled to vote on the agreement on September 12.
Read Next
<a href="https://www.benzinga.com/markets/equities/24/06/39547413/boeings-labor-countdown-union-stands-firm-as-strike-vote-looms">Boeing&#8217;s Labor Countdown: Union Stands Firm As Strike Vote Looms</a>
This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

Boeing And IAM Union Strike Deal, Potentially Averting Major Strike

The past week in the tech world was dominated by significant developments in the artificial intelligence (AI) sector. From Goldman Sachs&#8217; take on the AI tech sector&#8217;s growth to Nvidia&#8217;s ambitious plans, the week was filled with intriguing stories. Here&#8217;s a quick round-up of the top stories that made headlines.
Goldman Sachs on AI Tech Sector
Despite the significant growth and investor interest in artificial intelligence stocks, analysts at Goldman Sachs have dismissed the idea that the sector is in a speculative bubble, akin to previous technology booms such as the late 1990s internet bubble. They emphasized the importance of diversification out of the &#8216;Magnificent 7&#8217;, which includes tech giants like Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Amazon.com (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>).
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40741279/ai-tech-sector-is-not-in-a-bubble-but-diversification-out-of-magnificent-7-is-key-g">Read the full article here.</a>
Nvidia&#8217;s One-Stop Shop Ambition
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) has been maintaining a competitive edge in artificial intelligence technology by providing full-stack solutions. A recent report suggests that the company, led by Jensen Huang, is aiming to go beyond selling AI accelerators that power data centers. Instead, it wants to offer a one-stop solution to its data center customers.
<a href="https://www.benzinga.com/markets/equities/24/09/40680914/nvidia-takes-a-page-from-apples-playbook-jensen-huang-wants-ai-stalwart-to-go-beyond-chips-and-bhttps://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">Read the full article here.</a>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/09/40686890/apple-nvidia-key-supplier-tsmc-leads-taiwanese-chip-giants-to-localize-neon-gas-production-by-2025?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple, Nvidia Key Supplier TSMC Leads Taiwanese Chip Giants To Localize Neon Gas Production By 2025</a>
Cathie Wood&#8217;s Congratulatory Message to Elon Musk
Cathie Wood, the head of Ark Invest, congratulated Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) and SpaceX CEO Elon Musk and his xAI team for successfully bringing the Colossus 100,000 H100 training cluster online in just 122 days. She hinted at &#8216;many big announcements ahead&#8217;.
<a href="https://www.benzinga.com/news/24/09/40678873/cathie-wood-congratulates-elon-musk-on-xai-milestone-after-ai-firm-brings-100k-nvidia-gpu-colossus-c">Read the full article here.</a>
Nvidia&#8217;s Projected $10 Trillion Valuation
According to Beth Kindig, lead tech analyst at I/O Fund, NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is projected to surge to a $10 trillion valuation. Kindig highlighted the potential of Nvidia's next-generation artificial intelligence chip, Blackwell, which is expected to propel the chip maker with &#8216;fireworks again&#8217; in 2025.
<a href="https://www.benzinga.com/markets/equities/24/09/40670634/nvidia-set-to-reach-10-trillion-valuation-as-blackwell-expected-to-propel-chip-maker-with-firewo">Read the full article here.</a>
OpenAI Co-Founder&#8217;s Startup Raises $1B
Microsoft Corp.-backed (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) OpenAI&#8217;s co-founder Ilya Sutskever&#8217;s newly founded startup, Safe Superintelligence (SSI), has raised $1 billion from prominent venture capital firms such as&nbsp;Andreessen Horowitz,&nbsp;Sequoia Capital,&nbsp;DST Global, and&nbsp;SV Angel.
<a href="https://www.benzinga.com/news/24/09/40722123/openai-co-founder-ilya-sutskevers-ai-startup-raises-1b-from-andreessen-horowitz-sequoia-as-sam-altma">Read the full article here.</a>
Read Next:
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<li><a href="https://www.benzinga.com/fintech/24/09/40731875/paypal-ventures-into-in-person-payments-with-apple-pay-integration-and-cashback-rewards?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">PayPal Ventures Into In-Person Payments With Apple Pay Integration And Cashback Rewards</a></li>
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Photo courtesy: Unsplash
This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/Rounak-Jain" target="_blank" rel="noreferrer noopener">Rounak Jain</a>

AI Sector Bubble Concerns, Nvidia's One-Stop Shop Ambition, And More: This Week In AI

Robert Kiyosaki isn't holding back. In a recent post, he called out Vice President Kamala Harris, saying, "Words are cheap." Kiyosaki, the author of Rich Dad Poor Dad, believes actions speak louder in politics – and he's watching closely. His criticism? "Kamala is the anointed ‘Border Czar' yet openly admits she has never been to the border or Europe," he wrote, questioning whether she's truly committed to her role or just talking the talk. It's worth noting that the White House never formally named Harris "Border Czar."
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Kiyosaki didn't stop there. In a previous post, <a href="https://www.benzinga.com/news/24/08/40544194/robert-kiyosaki-kamala-harris-is-avocado-toast-her-lying-immoral-unethical-days-coming-to-an-end">he referred to Harris as "avocado toast," </a>implying that her political days are numbered. In the same breath, he announced a meeting with Robert F. Kennedy Jr., suggesting a potential shift in political alliances. Kiyosaki has been vocal about his views, even calling the Biden administration a "crime family" and encouraging people to distance themselves from the "criminals" in power. He urged followers to join him in Dallas at the "Infinite" event, where he met with Kennedy and continued the conversation about truth in politics.
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Kiyosaki's focus on Harris isn't just about her title or position. He's calling out the inconsistency he sees in how she presents herself. On some days, he said, Harris identifies as Asian; on others, she highlights her identity as Black. To Kiyosaki, it's more of the same: words that shift depending on the situation without the actions to back them up.
What's Kiyosaki's main point? Simple: watch what politicians say and then see what they do. He's seen too many people trust words without checking actions. And that's how you get fooled, he says. "I've been a sucker many times in life," Kiyosaki admitted, explaining how he wanted to believe in people's words but didn't always compare those words to their actions. Now, he's learned the hard way to always check both.
See Also: Can you guess how many retire with a $5,000,000 nest egg? &#8211;<a href="https://www.benzinga.com/money/retire-5mil-nest-egg">How does it compare to the average?</a>
Kiyosaki's take is rooted in the lessons from his "rich dad." His mentor always said, "Words are cheap … integrity is when words and actions are one." And that's the standard Kiyosaki is holding Harris and other politicians to. In his eyes, actions reveal the truth, not speeches or promises.
Kiyosaki's message is clear: your freedom depends on who you trust. And trust shouldn't be given lightly. He warns that politicians and teachers shouldn't be trusted with something as precious as your freedom. His advice? Pay attention, compare words to actions, and don't be easily fooled.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Kiyosaki's meeting with RFK Jr. could lead to more <a href="https://www.benzinga.com/news/24/08/40541978/trump-vs-harris-kamala-harris-takes-8-point-lead-in-new-poll-with-race-and-gender-shaping-voter-pref">discussions on integrity in politics.</a> For now, he's keeping the spotlight on Harris, calling her out to see if her actions will ever match her words.
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Robert Kiyosaki Calls Out Kamala Harris: 'Words Are Cheap' – Why He Believes Actions Speak Louder In Politics

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Medibank Pvt

Russian hackers were behind the cyberattack on one of the largest Australian private health insurance providers, compromising the details of nearly 10 million current and former customers. 



What Happened: Australian Federal Police Commissioner Reece Kershaw on Friday said intelligence showed that a group of loosely affiliated cybercriminals responsible for past significant breaches in countries are behind the attack on Medibank Private Ltd (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MDBPF#OTC">MDBPF</a>), <a href="https://www.reuters.com/technology/australian-police-blame-russia-based-hackers-attack-medibank-2022-11-11/">reported</a> Reuters. 



See Also: <a href="https://www.benzinga.com/news/22/11/29607581/banning-kfc-mcdonalds-near-schools-how-western-australia-plans-to-tackle-obesity">Banning KFC, McDonald&#8217;s Near Schools — How Western Australia Plans To Tackle Obesity</a>



The commissioner added that the police know the criminals but won't be naming them now.



&#8220;To the criminals, we know who you are and moreover, the AFP has some significant runs on the scoreboard when it comes to bringing overseas offenders back to Australia to face the justice system,&#8221; Kershaw said.



The Federal Police will now be holding talks with their Russian counterparts about the individuals.



On Thursday, Australian Home Affairs Minister Clare O'Neil warned the hackers that Australian authorities were coming for them. She told parliament that &#8220;that the smartest and toughest people in this country&#8221; were going after the hackers.



Check out more of Benzinga&#8217;s Europe and Asia coverage by <a href="https://www.benzinga.com/topic/eurasia">following</a> <a href="https://www.benzinga.com/topic/eurasia">this link</a>.

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