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☆ Japanese store near Mount Fuji issues apology in response to overtourism
▼ + stars: | 2024-05-08 | by ( Lilit Marcus | ) edition.cnn.com time to read: +4 min

Lawson’s, one of Japan’s largest convenience store chains, has an outpost in the small town of Fujikawaguchiko. Tourists have flooded into Fujikawaguchiko to take one specific picture – a shot of Mount Fuji behind a Lawson’s store, where the mountain’s classic elegance contrasts with the store’s modern neon signage. Although Lawson’s has not encouraged visitors to take pictures of their store, the company nevertheless issued a statement addressing the issue on May 5. Many of them headed to the same destinations, crowding Kyoto’s narrow streets and the walking trails of Mount Fuji. And Lawson’s is not the only Japanese tourist destination that has resorted to putting up signs warning visitors of bad behaviors.

Persons: Fuji –, Lawson’s, Lawson, –, overtourism, Fujikawaguchiko, Semans Organizations: CNN, Fuji, Mount Fuji, ”, Mount, UNESCO Locations: Fujikawaguchiko, Yamanashi prefecture, –, Japan, Mount, Yamanashi

☆ I quit my finance job and became an Airbnb host in Italy. I have no regrets about choosing happiness over money.
▼ + stars: | 2024-05-08 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

Anton Govor left his corporate finance career to become an Airbnb host on Lake Garda in Italy. I visited Lake Garda for the first time when I was 21The main guesthouse at GardaDoma. Courtesy of GardaDomaDuring a drive from Munich to Florence, I stopped in Lake Garda completely by chance. AdvertisementI chose to leave my finance career behindIn December 2018, my second son was born at Lake Garda, and I took parental leave at our house. I devote 1 to 4 p.m. to property maintenance and planning the dinner menu with our work family, who take shifts in cooking.

Persons: Anton Govor, Govor, he's, —, It's, Ernst & Young, Brenzone, Airbnb Organizations: Garda, Service, Ernst &, MOEX Group, Lake Garda Locations: Italy, Brenzone sul Garda, Moscow, Lake, Munich, Florence, Europe, Russia, Easter

☆ Russia pounds Ukraine with biggest airstrikes in weeks
▼ + stars: | 2024-05-08 | by ( Olga Voitovych | Martin Goillandeau | ) edition.cnn.com time to read: +3 min

CNN —Russia carried out a “massive” missile attack on Ukrainian energy infrastructure overnight into Wednesday, according to local authorities, in the biggest aerial onslaught by Russian forces for weeks. Russia used 76 air attack weapons in the assault, including 55 missiles and 21 drones launched from Russia and Russian controlled areas, according to Ukrainian Air Force Commander Mykola Oleshchuk. Rescuers assess the ruins of a building, damaged by a Russian missile attack in Kyiv region, Ukraine on May 8, 2024. Handout/Ukrainian Emergency Service/APMoscow has stepped up efforts to paralyze Ukraine’s energy system in the past month, as Kyiv’s troops struggle to hold positions on key frontlines particularly in the east. The latest Russian attack hit three thermal power plants run by Ukraine’s biggest power company, DTEK.

Persons: Mykola Oleshchuk, Herman Halushchenko, ” Halushchenko, Maksym Kozytskyi, Volodymyr Zelensky, ” Organizations: CNN, Ukrainian Air Force, country’s Energy, Emergency, AP, Ukraine’s, Nazism Locations: Russia, Russian, Ukraine’s Poltava, Kirovohrad, Zaporizhzhia, Lviv, Ivano, Frankivsk, Vinnytsia, Kyiv, Kyiv region, Ukraine, Handout, AP Moscow, Avdiivka, Ukraine’s, Chervonohrad, Stryi

☆ Dementia cases are on the rise — avoid these 12 risks to keep your brain healthy
▼ + stars: | 2024-05-08 | by ( Ernestine Siu | In Ernestinesiu | ) www.cnbc.com time to read: +5 min

Halfpoint Images | Moment | Getty ImagesA global mental health crisis is on the horizon — dementia. While a healthy body can mitigate dementia risks, a healthy mind is no less important. "We do know [that] people who have cumulative mental health symptoms during their lifetime, actually [have] an increased risk of dementia," said Singham. "If we see symptomatic improvement [to one's mental health] throughout the life course, then that can decrease your chances of having dementia eventually." "The other thing I would encourage young people to do is have a very disciplined, good sleep hygiene because our brains really really need to rest," Ng said.

Persons: Timothy Singham, Singham, Ng Ai Ling, " Ng Organizations: World Health Organization, WHO, National University of Singapore, CNBC, Community Services

☆ Weekly mortgage refinance demand rose 5% after a slight dip in mortgage rates
▼ + stars: | 2024-05-08 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates are significantly higher than they were at the start of this year, but they pulled back slightly last week after several weeks of straight increases. "First-time homebuyers account for roughly half of purchase loans, and the government lending programs are an important source of financing for these homebuyers. The dip in rates caused refinance demand to increase 5% for the week, although it was still 6% lower than the year-earlier week. Applications for a mortgage to purchase a home rose 2% for the week but were still 17% lower than the same week a year earlier. Mortgage rates fell further to start this week.

Persons: Mike Fratantoni, MBA's, Fratantoni Organizations: Federal Reserve's, Federal Housing Administration Locations: Manhattan, New York City

☆ A millennial couple moved from Arizona to China to teach at an international school. The cost of living is much cheaper, though the language barrier is challenging.
▼ + stars: | 2024-05-08 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

His wife, a teacher, had been to China before and realized she could get a visa to teach at an international school there and bring Scott along. The school that hired her also hired Scott, and the two put their lives in the US on hold and relocated to China. His wife got a job as a teacher at an international school, and the two moved to China on her visa. Related storiesBefore moving to China, the couple paid $1,900 a month in rent in Arizona. He said their internet bill was $130 a month, their cellphone bill was $70, and their electricity bill was $100.

Persons: Scott Vleeschouwer, weren't, Scott, Vleeschouwer, it's, they've, China Vleeschouwer, DiDi —, He's, they're Organizations: Service, China's, Business Locations: China, Shenzhen, Maryland, Roanoke , Virginia, San Antonio, Phoenix, Mexico, Beijing, Shanghai, India, Hong Kong, Philippines, Indonesia, Kenya, Southeast Asia, Arizona, They've

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ Macklemore criticizes Biden in new song supporting pro-Palestinian student protests
▼ + stars: | 2024-05-08 | by ( Scottie Andrew | ) edition.cnn.com time to read: +17 min

Across the US, pro-Palestinian protesters have been occupying lawns and buildings on campuses, and many are requesting that their universities divest from Israel. Nic Antaya/Getty Images Pro-Palestinian protesters demonstrate on the New York University campus in New York on Friday, May 3. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: Macklemore, Joe Biden, ” Macklemore, Donald Trump, Columbia’s Hamilton, Hind Rajab, Hind, who’ve, ”, He’s, Biden, Jon Batiste, Selena Gomez, Annie Lennox, “, Melissa Overton, Nic Antaya, Seth Harrison, Jenny Kane, Chip Somodevilla, Mathieu Lewis, Rolland, Craig Hudson, Emma, Roberto Schmidt, Etienne Laurent, Mike Blake, Spencer Platt, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Charly Triballeau, Kena Betancur, Seyma, Alex Kent, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Mike Johnson, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Seattle concertgoers, Seth Rogen Organizations: CNN, Columbia University, Biden, University of California, University of Arizona, Dua Lipa, Scottish, United Nations Relief, Works Agency for Palestine Refugees, Hamas, Protesters, University of Michigan's, New York University, Westchester County Journal, USA, Network Police, Portland State University, AP, George Washington University, Getty, The George Washington University, Israel, AFP, Police, UCLA, Reuters, Fordham, Lincoln Center, Getty Images Police, Hamilton, Reuters Police, Columbia, The City College of New, Getty Images, Columbia Students, Justice, Hamilton Hall, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, Sunday, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, Seattle, Trump Locations: Gaza, Israel, University of California Los Angeles, Palestine, Dua, Ann Arbor , Michigan, New York, Westchester, Portland , Oregon, Washington ,, Portland, The, Los Angeles, AFP, The City College of New York, Columbia, Columbia's, Providence , Rhode Island, Texas, Austin, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, Washington

☆ Shopify shares plunge 18% on weak guidance
▼ + stars: | 2024-05-08 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +1 min

The corporate logo of e-commerce company Shopify hangs at the building that contains the offices of Shopify Commerce Germany GmbH on August 08, 2022 in Berlin, Germany. Shopify reported first-quarter earnings and sales on Wednesday that were ahead of Wall Street expectations, but it gave a downbeat forecast for the current quarter. Shopify said it expects second-quarter revenue to grow at a high-teens percentage rate year-over-year, a slowdown from the previous period. The company has posted year-over-year revenue growth in the low-to-mid twenties for the past six quarters. Second-quarter revenue would grow in the "low-to-mid-twenties" year-over-year when adjusting for the divestiture of the logistics business, Shopify said.

Persons: Shopify Organizations: Shopify Commerce, Shopify Commerce Germany GmbH Locations: Shopify Commerce Germany, Berlin, Germany

☆ I ended up being a caretaker for both my baby boomer parents. My Gen Z friends were surprisingly understanding.
▼ + stars: | 2024-05-08 | by ( Ivannia Morton | ) www.businessinsider.com time to read: +4 min

I've always known that my parents were older than the parents — and occasionally even the grandparents — of my peers. Having older parents than my peers was both rewarding and challenging while growing up. Almost any child with older parents, regardless of the generation they were born into, can tell you they've imagined what taking care of their parents would look like. To my surprise, many of my Gen Z friends knew exactly what I was going through. You rarely tell the "outside" — be it your extended family or friends, what's going on "inside" — or in the home.

Persons: I've, —, what's, I'd

☆ Shopify warns on margins and posts big quarterly loss, sending shares plunging premarket
▼ + stars: | 2024-05-08 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Shopify stunned investors after reporting a surprise loss for the first three months of the year. The e-commerce platform posted a $273 million loss for the first quarter. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementShopify shares plunged almost 20% in premarket trading after the e-commerce giant sunk into the red for the first three months of the year.

Persons: Shopify, —, Harvey Finkelstein Organizations: Service, Shopify

☆ Elon Musk is a homeowner again, despite his claims of couch surfing
▼ + stars: | 2024-05-08 | by ( Grace Kay | Jack Newsham | ) www.businessinsider.com time to read: +7 min

As recently as April 2022, the billionaire Tesla founder claimed in an interview that he was couch surfing and didn't "even own a place right now." In redacted court filings from December, Musk said he purchased the home in February 2022 and that he still lives there. In 2023, the Austin property was appraised at nearly $7 million, county tax records show. Less than a year later, in April 2022, Musk said again that he didn't own a home and rotated between friends' spare rooms. Eight weeks later, the LLC that purchased the Austin house was formed.

Persons: —, Elon, Tesla, Grimes, Musk, Stefan Cassella, I'd, he'd, they'd, I'm, Austin, Ken Howery, Walter Isaacson, Tesla's Austin Gigafactory Organizations: Service, Business, Texas, State, Department of Justice, SpaceX, Street Journal, PayPal, Austin, Montessori Locations: Austin, Texas, California, San Francisco, Colorado, Bastrop , Texas, Tesla's

☆ Live Updates: House to Examine K-12 Schools in Latest Antisemitism Hearing
▼ + stars: | 2024-05-08 | by ( Dana Goldstein | ) www.nytimes.com time to read: +4 min

He can expect a grilling over concerns of antisemitism at city schools, including at his alma mater, Hillcrest High School in Queens. “That’s not an issue of taking sides,” Mr. Banks said. New York City is one of the most diverse school districts in the world with large number of Jewish, Arab and Muslim families. Mr. Banks, who has twice traveled to Israel, added that he was “profoundly moved” on a visit to Yad Vashem, the country’s official Holocaust memorial. After watching university leaders at the two prior hearings on antisemitism, Mr. Banks said his greatest takeaway was simply to be authentic.

Persons: David Banks, “ we’ve, ” David C, Banks, Claudine Gay, Liz Magill, Nemat, ”, “ That’s, “, we’ve, Yad Vashem, I’m Organizations: New, Columbia University, House Education, Work Force, Hillcrest High School, Harvard, University of Pennsylvania, New York, Muslim Locations: New York City, —, Israel, Queens, America, Gaza, Yad, New York

☆ Microsoft to build AI hub on previously-owned Foxconn land in Wisconsin
▼ + stars: | 2024-05-08 | by ( Samantha Murphy Kelly | Samantha Waldenberg | ) edition.cnn.com time to read: +3 min

CNN —Microsoft said it is pouring $3.3 billion into building a data hub in Wisconsin that aims to train employees and manufacturers on how to best use artificial intelligence. The new center aims to create 2,300 union construction jobs and 2,000 permanent jobs over time, according to Microsoft. In his remarks Wednesday, Biden plans to directly point his finger at Trump for the failed project, according to a White House official. The White House also introduced an order in 2023 to require AI system developers to share results of their safety tests with the federal government before they are released to the public. Beyond AI, Wisconsin is seeing a spate of funding toward futuristic industries.

Persons: Joe Biden, Trump, Satya Nadella, Biden, Microsoft’s Organizations: CNN, Microsoft, University of Wisconsin, University of Wisconsin -, Trump, White, Infrastructure Law, Badger Locations: Wisconsin, Mount Pleasant , Wisconsin, America, Milwaukee, University of Wisconsin - Milwaukee, United States, Racine –

☆ Kim Ki Nam: North Korean propaganda chief who served all three leaders dies
▼ + stars: | 2024-05-08 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

CNN —Kim Ki Nam, one of the longest-serving North Korean officials who served all three generations of its leaders cementing their political legitimacy and heading the propaganda apparatus for the dynastic state, has died, official media said on Wednesday. North Korea leader Kim Jong Un visited the bier of Kim at 2 a.m. on Wednesday to pay tribute “with bitter grief over the loss of a veteran revolutionary who had remained boundlessly loyal” to the country until the very end, it said. Kim died on Tuesday at the age of 94, official KCNA news agency said. Kim exerted tremendous influence on policy and personnel and was a key architect of the ruling Workers’ Party’s political foundation, according to North Korea expert Michael Madden at the Stimson Center. He was particularly close to Kim Jong-il, the father of the current leader who died in 2011, and was believed to be his “drinking buddy,” Madden said citing sources.

Persons: CNN — Kim Ki Nam, Kim Jong Un, Kim, ”, “, ” KCNA, Kim Dae, Kim Il, Michael Madden, Kim Jong, ” Madden Organizations: CNN, North Korean, North, South, Stimson Locations: North Korea, Pyongyang, Korea

☆ Live updates: Israel-Hamas war, Rafah airstrikes, Gaza ceasefire deal
▼ + stars: | 2024-05-07 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +1 min

Palestinians flee from Rafah, Gaza Strip, on May 6. Ramadan Abed/ReutersPalestinian civilians told to evacuate eastern Rafah by the Israeli military have described their fear and despair at being uprooted from their homes and shelters, as Israel airstrikes hit Gaza’s southernmost city. “We left because they distributed leaflets,” Mohammed Ghanem, a resident in eastern Rafah told a CNN stringer in the area on Monday. Another woman from eastern Rafah said, “The Israelis sent us messages ordering us to leave. In a statement, the office of Israel’s prime minister said the country’s war cabinet had “unanimously decided” to continue with the Rafah operation “to exert military pressure on Hamas.”Read the full story.

Persons: Ramadan Abed, ” Mohammed Ghanem, “, ” Ghanem, ”, Khan Younis Organizations: CNN Locations: Rafah, Gaza, Israel, “, Mawasi

☆ Founder of Google DeepMind who was poached explains his first month at Microsoft
▼ + stars: | 2024-05-07 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +4 min

Mustafa Suleyman, a founder of Google's DeepMind AI lab, has worked for Microsoft for about a month. Microsoft, Suleyman said, is "a truly AI-first business." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementMustafa Suleyman, who co-founded Google's DeepMind AI lab and was the chief executive of the startup Inflection AI before Microsoft lured him away in March, is excited about his new gig. 5/5 At Microsoft AI we are up for this.

Persons: Mustafa Suleyman, Google's, Suleyman, —, I've, It's, it's, — Mustafa Suleyman, Satya Nadella, Kevin Scott, Nadella, Suleyman's, he's Organizations: Microsoft, Service, Business

☆ Reddit shares soar after company reports strong first-ever earnings with record user traffic
▼ + stars: | 2024-05-07 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

Reddit beat expectations for its first financial quarter as a publicly traded company. Strong revenue growth and record user traffic sent the stock price up 16% in after-hours trading. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The company also boasted a record 82.7 million daily active users, up 37% from the year before. "We see this as the beginning of a new chapter as we work towards building the next generation of Reddit."

Persons: —, Reddit, Steve Huffman Organizations: Service, Business

☆ South Africa, George: Five dead and 49 missing as multi-story building collapses
▼ + stars: | 2024-05-07 | by ( Caitlin Danaher | ) edition.cnn.com time to read: 1 min

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☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ Schonfeld's Asia cohead is leaving the $10 billion firm's fast-growing outpost
▼ + stars: | 2024-05-07 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +2 min

Eric To is leaving the $10 billion New York-based multi-manager, people close to the firm told Business Insider. He was the cohead of APAC and head of APAC fundamental equity. This story is available exclusively to Business Insider subscribers. A person close to the firm told Business Insider that To's cohead, Chris Antonelli, will take over as the sole head of the Asia business going forward. In the five years To was there, this person noted, Schonfeld's Asia business expanded to Japan and Australia and nearly tripled its head count in the region.

Persons: —, Eric, Sol Kumin's, Chris Antonelli, Ken Organizations: Service, Business, Schonfeld, SAC Capital, Schonfeld's, Citadel Locations: York, Hong Kong, Folger Hill, Asia, Balyasny, Schonfeld's Asia, Japan, Australia, APAC

☆ UBS swings back to profit and smashes earnings expectations for the first quarter
▼ + stars: | 2024-05-07 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

UBS logo is seen at the office building in Krakow, Poland on February 22, 2024. UBS on Tuesday reported a swing back to profit after two quarterly losses as it smashed first-quarter expectations, with results bolstered by higher wealth management revenues. Lower expenses and consolidation benefits following the takeover of Credit Suisse in June 2023 also helped the bank post a net profit of $1.8 billion in the first quarter, ahead of a consensus forecast in an LSEG poll of $721.4 million. The Swiss banking giant is continuing to process the mammoth integration of its former rival. The firm said Tuesday that it expects to complete the merger of UBS AG and Credit Suisse AG into a single U.S. intermediate holding company in the second quarter, and the merger of its Swiss entities in the third quarter.

Organizations: UBS, Credit Suisse, UBS AG, Credit Suisse AG Locations: Krakow, Poland, Swiss, U.S

☆ Reddit shares soar 14% after company reports revenue pop in debut earnings report
▼ + stars: | 2024-05-07 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

Reddit shares rallied 14% in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in March. That may not compare with the $8.71 loss expected by LSEG$8.19 loss per share. That may not compare with the $8.71 loss expected by LSEG Revenue: $243 million vs. $212.8 million expected by LSEGRevenue climbed 48% from $163.7 million a year earlier. For the second quarter, Reddit expects revenue of $240 million to $255 million, topping the $224 million expected by analysts, according to LSEG. The company reported 82.7 million daily active users for its first quarter, up from the 76.6 million expected by StreetAccount.

Persons: Steve Huffman, Snoo, Reddit, Here's, Meta, Alexis Ohanian, Huffman Organizations: New York Stock Exchange, LSEG, LSEG Revenue, Digital, Amazon, Google, StreetAccount Locations: New York

☆ Gold prices inch higher on U.S. rate-cut bets, Middle East woes
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +2 min

One kilogram gold bullion at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices edged higher on Tuesday, steered by bets that the U.S. Federal Reserve would cut interest rates later this year and safe-haven demand for bullion as Gaza ceasefire remains uncertain. Spot gold was up 0.1% at $2,324.75 per ounce, as of 0148 GMT after rising more than 1% in the previous session. Fed Bank of New York President John Williams said on Monday that at some undefined point the U.S. central bank will lower its interest rate target. Lower rates increase the appeal of holding non-interest bearing gold.

Persons: that's, Matt Simpson, John Williams, Simpson, Israel, Heraeus Organizations: Co, U.S . Federal, Index, Fed Bank of New York, Investors, Hamas Locations: Bangkok, Thailand, Gaza, U.S, Palestinian, Rafah

☆ Want to fire your real estate agent? Try this.
▼ + stars: | 2024-05-07 | by ( Alistair Barr | ) www.businessinsider.com time to read: +3 min

A $418 million legal settlement in March upended the residential real estate market. It's the brainchild of Lewis Buckley and Allan Wood who met during a private home sale process that — you guessed it — involved no real estate agents. In the US, commissions on home transitions have hovered between 5% and 6% of the sale price for decades. In the UK, real estate agents charge a 1% to 3% of the property sale price, and then sellers usually have to hire someone else to handle the legal stuff. Even with the lowest 1% commission rate of a traditional estate agent, a homeowner would save £4,605 if they paid Hiizzy's £395 flat fee.

Persons: —, Lewis Buckley, Allan Wood, Albert Fox Cahn Organizations: Service Locations: Hiizzy

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