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☆ Palo Alto nears a key test that could break it out of Wall Street's penalty box
▼ + stars: | 2024-05-15 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Shares of Palo Alto plunged 28% on Feb. 21, a session after the company delivered a more cautious outlook for the rest of 2024. The shift in business strategy requires Palo Alto to give customers its new services and products for free to demonstrate their many benefits. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance 2. The Club is focused on how much industry spend is going to Palo Alto versus competitors, but we're not concerned about demand for the company's offerings. In this photo illustration the Palo Alto Networks logo seen displayed on a smartphone and on the background.

Persons: Morgan Stanley, Sellers, Nikesh Arora, Palo, We'd, it's, PANW, Arora, Jim Cramer, We've, nudging, Stephen Vintz, we're, Jim, Jim Cramer's, Rafael Henrique Organizations: Palo Alto Networks, Wall Street, Palo, Tech, Barclays, Palo Alto, billings, Wall, Alto Networks, UnitedHealth Group, Change, Healthcare, Club, Microsoft, Vans, Corp, Caesars Entertainment, Securities, Exchange, US Fed, CNBC, Networks, Getty Locations: Palo Alto, U.S, Palo, billings, Palo Alto's, Alto

☆ Kapital: 2024 CNBC Disruptor 50
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

Small businesses dominate the global economy, and yet few banks focus on lending credit to this underserved demographic. According to the World Bank, small and medium-sized businesses make up 90% of global companies but only get 10.5% of total bank credit available. Even those that do get bank credit often don't have the kind of robust business management platform that large enterprises have. It gives businesses access to capital through revolving credit lines and business credit cards, while its business management platform provides real-time visibility into operations, cash flows, management of loans, payroll, benefits and invoicing. "That's what we're fixing — we give them visibility of their finances," Rene Saul, who co-founded Kapital with Fernando Sandoval in 2020, told TechCrunch.

Persons: Rene Saul, Fernando Sandoval Organizations: World Bank

☆ Neom's push for foreign investment is getting trickier after allegations of Saudi brutality
▼ + stars: | 2024-05-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Saudi Arabia needs foreign businesses to help it realize its Neom megacity project. The BBC reported that Saudi officials were given a license to use lethal force to clear land. But underneath the image is a far darker reality, say campaigners, which could threaten the foreign cash and expertise Saudi Arabia needs to realize its ambitions. Though his decision took place in 2022, it was given new urgency by a whistleblower giving more detail on how Saudi officials may have acted. Amnesty International said businesses ought to be wary of doing deals in Saudi Arabia and called for UK officials to push for an independent investigation into the Neom land clearances.

Persons: —, Malcolm Aw, Col Rabih Alenezi, Dana Ahmed, Mohammed bin Salman, Jamal al, Neom Organizations: BBC, Saudi, Service, UN, Telegraph, Amnesty International, Amnesty, Politico, The Atlantic Council, Business Locations: Saudi Arabia, Saudi

☆ China Is Raising Bullet Train Fares as Debts and Costs Balloon
▼ + stars: | 2024-05-13 | by ( Keith Bradsher | ) www.nytimes.com time to read: 1 min

China is taking the rare step of sharply increasing fares for riders on four major bullet train lines, in its broadest move to address rising costs and heavy debts since construction of the system began nearly two decades ago. The higher prices for train tickets are part of a push to raise prices for public services. Public services in China are heavily subsidized by local governments. But huge municipal debts mean that these governments have less money on hand to keep prices down. And making consumers pay more helps offset the falling prices that are widespread in China’s economy as growth slows.

Locations: China

☆ Putin axes defense minister, replaces him with an economist
▼ + stars: | 2024-05-13 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Putin replaced his longtime defense minister Sergei Shoigu with an economist Andrey Belousov. AdvertisementRussian leader Vladimir Putin is replacing his longtime defense minister Sergei Shoigu, 68, with an economist. On Sunday, Putin named former deputy prime minister and economic development minister Andrey Belousov, 65, as his new defense chief. Shoigu, who served as defense minister since 2012, now runs Russia's Security Council instead, taking over from Putin ally Nikolai Patrushev. Representatives for Russia's defense ministry didn't immediately respond to a request for comment from BI sent outside regular business hours.

Persons: Vladimir Putin, Putin, Sergei Shoigu, Andrey Belousov, Belousov, —, Dmitry Peskov, Shoigu, Nikolai Patrushev, Peskov, Timur Ivanov, Admiral Sir Tony Radakin, Wagner, Yevgeny Prigozhin, Prigozhin, Shoigu's, It's, didn't Organizations: Sunday, Service, TASS, Russian Ministry of Defense, Security, Putin, Industrial Commission, CNN, BI Locations: Shoigu, Russia, Ukraine

Smarter grids, like Chattanooga's, are just part of what it will take to modernize the American grid in the coming decades. A troubled transition to renewable energyOffshore wind farms are one of the growing areas of renewable energy. And the Edwards & Sanborn project, the US's largest solar energy and energy storage project in California, came online in January. Renewable energy is not only cleaner than fossil fuels but also often less expensive. Breaking down barriersThe US grid isn't designed for fluctuating renewable energy, so much of it goes to waste because clean-energy projects can't connect to the grid.

Persons: Kevin Schneider, Harris, Joe Rand, Joshua Rhodes, barleyman, Edwards, Rand, Philip Odonkor, Seib, headwinds, Julia Bovey, Ørsted, Bovey, Paul Denholm, We'll, Denholm, There's, PATRICK T, FALLON, we're, Schneider, We've, EPB, MISO, it's Organizations: Infrastructure, Service, Pacific Northwest National Laboratory, Nationwide, Biden, Lawrence Berkeley National Laboratory, University of Texas, Renewables, Sanborn, of Systems, Enterprises, Stevens Institute of Technology, Trump, Fork, Eversource Energy, National Renewable Energy Laboratory, Getty, Infrastructure Law Locations: Chattanooga , Tennessee, Chattanooga, EPB, Austin, Maine, North Carolina, California, United States

☆ Sergei Shoigu: Putin replaces Russia’s defense minister with a civilian, citing rising military costs and need for innovation
▼ + stars: | 2024-05-12 | by ( Anna Chernova | ) edition.cnn.com time to read: +3 min

CNN —Russian President Vladimir Putin has replaced his defense minister Sergei Shoigu with a civilian, Andrey Belousov, citing the country’s rising military spending and the need for “innovation.”Shoigu had been “relieved” of his post of Minister of Defense by presidential decree and been appointed Secretary of Russia’s Security Council, Kremlin spokesperson Dmitry Peskov said on Sunday night local time. Shoigu would also become Putin’s deputy in Russia’s Military-Industrial Commission, Peskov said, while Nikolai Patrushev, the previous Secretary of the Security Council, would “transfer to another job.”Belousov, who previously served as first deputy prime minister, is a civilian. “Today on the battlefield, the winner is the one who is more open to innovation,” Peskov said. Peskov added that the new appointment did not signal a shift in Russia’s current military system. In his new role, Shoigu will oversee Russia’s military industrial complex, Peskov said.

Persons: Vladimir Putin, Sergei Shoigu, Andrey Belousov, ” Shoigu, ”, Dmitry Peskov, Shoigu, Peskov, Nikolai Patrushev, ” Belousov, Putin, ” Peskov, It’s, Valery Gerasimov, Shoigu’s, Timur Ivanov, Ivanov, Ukraine –, Wagner, Yevgeny Prigozhin Organizations: CNN, Defense, Russia’s Security, Russia’s, Industrial Commission, Security, Russian Ministry of Defense, of Economic, Staff Locations: Ukraine, Russia

☆ Citi upgrades India to 'overweight' citing stable earnings, economic growth
▼ + stars: | 2024-05-11 | by ( ) www.cnbc.com time to read: +2 min

Citigroup analysts upgraded India to "overweight" from "neutral" in their emerging markets allocation on Friday, citing strong earnings and economic growth momentum. It also attributed India's one-year forward price-to-earnings (P/E) of 20x, which is slightly higher than the long-term averages, to a stable earnings trajectory. The brokerage remains "overweight" on India's banks, insurers, public sector enterprises, autos and capital goods companies among others. Citi downgraded China to "neutral" from "overweight", saying the recent rally in its stock markets occurred despite weakening fundamentals. Citi reiterated its "overweight" rating on Taiwan and Korea, maintaining "underweight" on Latin American countries.

Persons: Surendra Goyal Organizations: Hong, Citigroup, Citi, Jefferies, Asia Locations: India, China, Asia Pacific, Japan, Taiwan, Korea

☆ European companies in China are under pressure from slower growth, overcapacity
▼ + stars: | 2024-05-10 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +5 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China. Only 30% of EU Chamber survey respondents said their profit margins were higher in China than their company's worldwide average — an eight-year low. Jens Eskelund EU Chamber of Commerce in China, presidentChina's economy is now far bigger than it was in 2015 and 2016. More than one-third of EU Chamber survey respondents said they observed overcapacity in their industry in the last year, and another 10% expect to see it in the near future. "This is not just European companies whining," Eskelund said.

Persons: Carlo D'Andrea, D'Andrea, Jens Eskelund, Eskelund, overcapacity Organizations: Nurphoto, Getty, EU Chamber of Commerce, EU, of Commerce, U.S, Bureau, Statistics, Cosmetics Locations: Minhou County, Fuzhou, China, BEIJING, Shanghai, Beijing

The Major Supreme Court Cases of 2024No Supreme Court term in recent memory has featured so many cases with the potential to transform American society. In 2015, the Supreme Court limited the sweep of the statute at issue in the case, the Sarbanes-Oxley Act of 2002. In 2023, the Supreme Court temporarily blocked efforts to severely curb access to the pill, mifepristone, as an appeal moved forward. A series of Supreme Court decisions say that making race the predominant factor in drawing voting districts violates the Constitution. The difference matters because the Supreme Court has said that only racial gerrymandering may be challenged in federal court under the Constitution.

Persons: Donald J, Trump, Anderson, Sotomayor Jackson Kagan, Roberts Kavanaugh Barrett Gorsuch Alito Thomas, Salmon, “, ”, Mr, Nixon, Richard M, privilege.But, Fitzgerald, Vance, John G, Roberts, Fischer, Ruth Bader Ginsburg, Clarence Thomas, Samuel A, Alito Jr, Alito, ’, Moyle, Wade, Roe, Johnson, Robinson, Moody, Paxton, Robins, Media Murthy, Sullivan, Murthy, Biden, Harrington, Sackler, Alexander, Jan, Raimondo, ” Paul D, Clement, Dodd, Frank, Homer, Cargill Organizations: Harvard, Stanford, University of Texas, Trump, Liberal, Sotomayor Jackson Kagan Conservative, Colorado, Former, Trump v . United, United, Sarbanes, Oxley, U.S, Capitol, Drug Administration, Alliance, Hippocratic, Jackson, Health, Supreme, Labor, New York, Homeless, Miami Herald, Media, Biden, National Rifle Association, Rifle Association of America, New York State, Purdue Pharma, . South Carolina State Conference of, Federal, Loper Bright Enterprises, . Department of Commerce, Chevron, Natural Resources Defense, ”, SCOTUSPoll, Consumer Financial, Community Financial Services Association of America, Securities, Exchange Commission, Exchange, Occupational Safety, Commission, Lucia v . Securities, Federal Trade Commission, Internal Revenue Service, Environmental Protection Agency, Social Security Administration, National Labor Relations Board, Air Pollution Ohio, Environmental, Guns Garland, Alcohol, Tobacco, Firearms, Explosives, National Firearms, Gun Control Locations: Colorado, Trump v . United States, United States, Nixon, Florida, Gulf of Mexico, Dobbs v, Idaho, Roe, Texas, States, New, New York, Grants, Oregon, . California, Martin v, Boise, Boise , Idaho, Missouri, Parkland, Fla, Murthy v . Missouri, . Missouri, ., South Carolina, Alabama, SCOTUSPoll, Lucia v, Western

☆ 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

☆ Welcome to ‘the Tepid Twenties’? The US economy’s strength won’t be enough to boost global growth
▼ + stars: | 2024-05-05 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Invigorating growth is critical: When the economy expands, it improves standards of living, promotes innovation and makes households wealthier. Economic growth in Spain and France was stronger than expected last year. But the US is outperforming mainly for one key reason: Robust productivity growth. Productivity growth came in well below expectations in the first three months of the year, according to Labor Department data released last week. A “course correction” isn’t an even stronger US economy: Economic policymakers around the world need to address a range of key issues.

Persons: ” Kristalina Georgieva, ” Georgieva, ” Stephen Gallagher, Gallagher, “, ”, Hande Atay Alam, Recep Tayyip Erdogan, Israel Katz, John Williams, Neel Kashkari, Lisa Cook, Krispy Kreme, John’s, Austan Goolsbee Organizations: Washington CNN, Monetary, IMF, European Central Bank, Labor Department, Societe Generale, CNN, Reuters, Palantir Technologies, Tyson Foods, Marriott Worldwide, New York Fed, Disney, UBS, Duke Energy, Suncor, Bros, Minneapolis, Toyota, Uber, Anheuser, Busch InBev, Airbnb, Fox Corporation, News Corporation, Duolingo, Icahn Enterprises, New York Times Company, AMC Entertainment, Honda, Warner Bros Discovery, Warner Music Group, Hyatt, Hilton, Bank of England, US Labor Department, United Kingdom’s, National Statistics, University of Michigan, . Chicago Fed, China’s National Bureau of Statistics Locations: Europe, China, United States, Spain, France, Russia, Ukraine, Turkey, Israel, Gaza, Olesya, “ Turkey, Lyft, TripAdvisor

☆ Earnings will drive the market next week — what we expect from 2 portfolio stocks
▼ + stars: | 2024-05-04 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

With the Fed, Apple earnings and the jobs report passing with flying colors this week, the runway to more gains looks a lot less cluttered. This past week was chock full of Club earnings: 12 portfolio companies, including Apple , delivered results. Analysts expect Wynn's earnings per share of $1.27 versus 29 cents a year ago when China was not fully back from Covid. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jerome Powell, we're, Jim Cramer, Jim, Apple, Eli Lilly, Estee Lauder, Stanley Black, Decker, Bausch, FactSet, It's, Bob Iger, Iger, Nelson Peltz, We're, Krystal, Berkshire Hathaway, Tyson, Jones Lang, Walt, Ferrari N.V, WK Kellogg, Wynn, Vishay, CRON, MARA, RICK, Ginkgo, Jim Cramer's, David Paul Morris Organizations: Federal Reserve, Apple, GE Healthcare, DuPont, Linde, Bausch Health, Coterra Energy, Club, Disney, Wynn Resorts, CNBC, Revenue, Vegas Sands, Cotai, Boston, Airlines, Krystal Biotech, Alpha Metallurgical Resources, Axsome Therapeutics, Tyson Foods, TSN, Bowlero Corp, CNA Financial Corp, CNA, Jones Lang LaSalle Incorporated, Technologies, Realty Income Corp, Lab, Teradata Corp, Technology, FMC Corporation, FMC, Paymentus Holdings, Shockwave, Vertex Pharmaceuticals, Goodyear Tire & Rubber Company, Simon Property Group, Sterling Construction Company, Apple Hospitality, Boise Cascade Corporation, BellRing Brands, Coty, COTY, Fidelity National Information Services Inc, Vornado Realty, Walt Disney Co, Holdings, Madrigal Pharmaceuticals, Nikola Corporation, BP, Rockwell Automation, MarketAxess Holdings, Jumia Technologies, GEO Group, Builders FirstSource Inc, Duke Energy Corp, WYNN, Rivian Automotive, Arista Networks, Occidental Petroleum Corp, Astera Labs, Bros, Flywire Corporation, B2Gold Corp, Kinross Gold Corp, Virgin Galactic Holdings, iRobot Corp, Electronic Arts Inc, McKesson Corp, ACM Research, Avadel Pharmaceuticals, Toyota Motor Corp, Emerson Electric Co, Perion, Editas, Brink's Company, Sinclair Corporation, New Fortress Energy, Starwood Property Trust, Animal Health, ELAN, Farms, IM Cannabis Corp, Fox Corporation, Formula One, Icahn Enterprises, Teva Pharmaceutical Industries, Arm Holdings plc, ARM, AMC Entertainment Holdings, Trade, AppLovin Corporation, Sciences Corp, SolarEdge Technologies, Roblox Corporation, GigaCloud Technology Inc, Warner Bros ., Properties Trust, Growers, Constellation Energy Group, Cronos, Fiverr, Solar Inc, EPAM Systems, Cedar Fair Entertainment, Digital Holdings, RCI Hospitality Holdings, Akamai Technologies, Semiconductor, Insulet Corp, NuScale Power Corporation, Ginkgo Bioworks Holdings, Bloom Energy Corporation, Construction, AMC Networks, CRH Public Ltd . Company, Jim Cramer's Charitable, Allen, Co . Media, Technology Conference, Bloomberg, Getty Locations: China, Eaton, Amazon, Covid, Macao, Vegas, Sun Valley , Idaho

☆ India's markets regulator puts seven Adani companies on notice for violations
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +1 min

Chairperson of Indian conglomerate Adani Group, Gautam Adani, speaking at the World Congress of Accountants in Mumbai on November 19, 2022. India's markets regulator has sent notices of regulatory violations to seven companies of the Adani conglomerate, including its flagship Adani Enterprises, the group said in stock exchange filings. The regulator began probing the Adani group, led by billionaire Gautam Adani, after Hindenburg Research in January 2023 alleged improper use of tax havens and stock manipulation by the group, accusations the group has denied. Adani Green Energy, Adani Power, Adani Total Gas, Adani Energy Solutions, Adani Wilmar, and Adani Ports have also received notices from SEBI in the first quarter, the companies said in separate filings to the exchanges this week. Typically such violations attract monetary penalties or management can be barred from capital markets for a certain period.

Persons: Gautam Adani, Wilmar Organizations: Adani, World, Accountants, Adani Enterprises, Hindenburg Research, Securities and Exchange Board of India, Energy, Adani Energy Solutions Locations: Mumbai, SEBI

☆ Russia's economic survival hinges on prolonging the Ukraine war, think tank expert says
▼ + stars: | 2024-05-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russia needs to keep its war with Ukraine going or risk an economic hard landing, Elina Ribakova wrote for the Financial Times. The country's military industry has been a major driver of structural economic strength during the war. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But while this may look good on paper, the country is actually at risk of a hard landing if war efforts cease, Elina Ribakova said. For decades," Ribakova wrote.

Persons: Elina Ribakova, Ribakova, —, Vladimir Putin, That's Organizations: Financial Times, Service, Financial, International Monetary Fund, Peterson Institute for International Locations: Russia, Ukraine, Russian, Moscow

☆ Brexit border checks: Britain braces for less choice and higher prices on food imports
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | Anna Cooban | ) edition.cnn.com time to read: +10 min

The new regime for food imports is perhaps the starkest example of the painful border bureaucracy that UK and EU businesses must contend with in the wake of Brexit. An additional cost of that scale will “significantly increase food prices and reduce choice,” the federation’s CEO Phil Pluck wrote in a letter to environment and food minister Steve Barclay earlier this month. But here too Brexit hasn’t helped, ending as it did the free movement of EU workers on whom British farmers had relied for decades. In addition to Brexit-related challenges, UK farmers have been squeezed by soaring input costs, including those of fertilizer, energy and labor. “I’m not hugely in favor of subsidies, I’m in favor of fair food prices,” Maddocks said.

Persons: Eddie Price, ”, Phil, Steve Barclay, Andrew Aitchison, Andrew Opie, “, Jack Bobo, “ It’s, Price, hasn’t, ” Tom Bradshaw, “ You’re, Chris Ratcliffe, Brexit, ” Philip Maddocks, I’m, ” Maddocks Organizations: London CNN, European Union, EU, Britain, Birmingham Wholesale, CNN, Chain Federation, British Retail Consortium, University of York, Food Systems, University of Nottingham, Birmingham Wholesale Market, Bank, National Farmers ’ Union, Bloomberg, Getty, PDM Locations: United Kingdom, Britain, France, Spain, artichokes, Italy, Birmingham, Dover, Port, Netherlands, Ireland, Germany, North Africa, England, Sandwich, Australia, New Zealand, English, Shropshire

☆ Karen Firestone: Tech dominates the S&P 500. It's time to ask whether it's the best benchmark for investors
▼ + stars: | 2024-04-29 | by ( Karen Firestone | ) www.cnbc.com time to read: +7 min

Answering that question assumes understanding why we use the S & P 500 in the first place. While the Dow heavily favors industrial businesses — steel, chemicals, autos, oil and gas — the S & P 500 offers a more diverse representation. Also, the S & P 500 index is weighted by market value, which makes sense to professional investors. While certainly not a proxy for the S & P 500, it provides more exposure to other industries and stocks. As shown below, the equal-weighted S & P 500 has slightly outperformed the S & P 500 over the past 20 years.

Persons: I've, Gamble, Karen Firestone Organizations: Dow Jones, Dow, Apple, Procter, Microsoft, Nasdaq, Bloomberg, Goldman, Commodities, Asset Management

☆ In a Communist Stronghold, Capitalists Become an Economic Lifeline
▼ + stars: | 2024-04-29 | by ( David C. Adams | ) www.nytimes.com time to read: 1 min

A modern grocery store whose shelves are packed with everything from pasta to wine fills a spot in central Havana once occupied by a drab state-owned flower shop, its ceilings and walls repaired and repainted. A former state glass company in a Havana suburb now houses a showroom for a private business selling Cuban-made furniture. And at the Cuban capital’s port, forklifts carefully unload American eggs from a refrigerated container. The eggs are bound for an online private supermarket that, much like Amazon Fresh, provides home delivery. These ventures are part of an explosion of thousands of private businesses that have opened in recent years across Cuba, a remarkable shift in a country where such enterprises have not been permitted and where Fidel Castro rose to power leading a communist revolution determined to eliminate capitalist notions like private ownership.

Persons: Fidel Castro Locations: Havana, Cuban, Cuba

☆ Shopify embraced a 'new shape' after a post-pandemic slump and has charted an 18-month comeback
▼ + stars: | 2024-04-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +8 min

Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.

Persons: —, Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com

☆ Walmart heir Rob Walton is stepping down from the retailer's board after four decades
▼ + stars: | 2024-04-26 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

Rob Walton, eldest son of Walmart founder Sam Walton, is stepping down from the company's board. He first joined Walmart in 1969 and has served on the board for more than 40 years. The company said Walton "helped shape some of the most important moments in Walmart history." AdvertisementRob Walton, eldest son of Walmart founder Sam Walton's three children, is stepping down from the company's board of directors in June. Even in retirement, Walton will have significant influence over Walmart through his co-ownership of Walton Enterprises, which is the largest holder of Walmart stock.

Persons: Rob Walton, Sam Walton, Walton, —, Sam Walton's, Sam, Greg Penner Organizations: Walmart, Service, Walton Enterprises, Bloomberg

☆ CNBC's Inside India newsletter: A $270 billion gamble on green?
▼ + stars: | 2024-04-25 | by ( Ganesh Rao | ) www.cnbc.com time to read: +8 min

Solar panels stand at the Welspun Energy solar power plant in Neemuch, Madhya Pradesh, India. One sector in particular — electrical power transmission — will see $270 billion in financial benefits, according to Goldman Sachs. While utilities like the Power Grid Corporation of India may be perceived as unsexy, compared to growth stocks like Tesla, India plans to promote renewable energy without the taxpayer spending a single rupee. The country has added about 70 gigawatts of solar power capacity over the past decade without piling on further costs by simply maximizing the grid's usage. Currently, state governments in India levy surcharges and taxes on every unit of carbon-intensive energy transmitted through the grid.

Persons: Vivek Prakash, Elon Musk, Narendra Modi, Goldman Sachs, It's, Vinay Dwivedi, India Anna Dravida, Vinay, Modi, Mohamed Muizzu's, Jamie Dimon, Modi's Organizations: Bloomberg, Getty, U.S, Power Grid Corporation of India, Goldman, Companies, Reliance Industries, Adani Enterprises, Tamil Nadu —, Dravida Munnetra Kazhagam, India Anna Dravida Munnetra Kazhagam, CNBC, Modi's Bharatiya Janata Party, Vodafone Idea, Vodafone, West, Economic, of New, JPMorgan, CNBC Pro, we'll Locations: Neemuch, Madhya Pradesh, India, Tamil Nadu, Dravida, New Delhi, Maldives, China, Beijing, West Indies, Pakistan, U.S, of New York

☆ How Hitachi Digital Services is helping companies adopt AI models responsibly to meet their operational and financial goals
▼ + stars: | 2024-04-25 | by ( Sponsor Post | ) www.businessinsider.com time to read: +6 min

To assess the value of investments in generative AI models, companies must first develop their knowledge of the tools' potential for financial impact. We then help pair each use case with the right AI strategy, including the applicability of generative AI. To further support optimal financial operations for your company, your generative AI models must be trained to encompass operational and information technology priorities and perspectives. Learn more about how Hitachi Digital Services uses AI to empower informed decision-making. This post was created by Hitachi Digital Services with Insider Studios.

Persons: Premkumar Balasubramanian, observability, HARC Organizations: Hitachi Digital Services, Hitachi, Insider Studios

☆ Inflation, operating costs had the biggest impact on Asian firms last year, survey shows
▼ + stars: | 2024-04-25 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +1 min

Higher costs had the biggest impact on Asian businesses in 2023, even as they continued to grapple with a global economic slowdown and rising borrowing costs, according to a survey by UOB. Of those polled, 32% said they were impacted by high inflation, another 32% said they faced increased operating costs, while 24% said rising labor costs hurt their business, UOB's 2024 Business Outlook Survey reported. Still, about four out of 10 companies said they felt "very positive" about the business environment in 2023, while 32% said they were "somewhat positive," the survey showed. Some 35% of the companies polled said the business environment in 2023 declined compared to the previous year. To combat future headwinds, 30% of the companies said reducing business costs will be their top priority in the next one to three years.

Organizations: UOB, Survey Locations: Southeast Asia, Greater China, China , Hong Kong, Thailand, Vietnam, Malaysia, Singapore, Indonesia

☆ Amazon is opening cloud regions in Southeast Asia to meet customer demand, CTO says
▼ + stars: | 2024-04-24 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

Amazon is opening cloud regions in Southeast Asia because customers want their data stored securely in their own countries, Amazon Chief Technology Officer Werner Vogels said in an exclusive interview. They really wanted something local such that they can meet, for example, local data storage requirements, or protection of personal identifiable information," Vogels told CNBC's JP Ong. An AWS region is a physical location where data centers are clustered. Within each AWS region are a minimum of three separate availability zones. "And for them, it's important to have these kinds of technologies on the ground, in [the] country to make sure that they can serve their customers best or their citizens best," said Vogels.

Persons: Werner Vogels, Vogels, CNBC's JP Ong Organizations: Amazon Chief, Amazon Web Services Locations: Southeast Asia

☆ UPS profit beats estimates as cost cuts offset weak delivery demand
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

United Parcel Service's (UPS) newly launched electric delivery truck is seen in Compton, California, U.S., September 13, 2023. United Parcel Service reported first-quarter profit above estimates on Tuesday as cost cuts partly offset subdued demand for small-package delivery, sending its shares up 3.5% premarket. UPS reported a 3.2% decline in average daily volumes in its domestic segment and a 5.8% drop in its international segment, but said volumes "showed improvement through the quarter". UPS recently secured the contract to provide Priority Mail and other speedy services for the U.S. Its revenue of $21.71 billion was below estimates of $21.86 billion.

Organizations: United Parcel Service, UPS, Teamsters, U.S . Postal Service, FedEx Locations: Compton , California, U.S, Atlanta

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