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☆ Catalan separatists lose majority as Spain’s pro-union Socialists win regional elections
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: +6 min

A pro-unity rally marches through Barcelona, Spain, on October 8, 2017, in response to last Sunday's disputed referendum on Catalan independence. This was the first time the Socialists led a Catalan election in both votes and seats won. Illa led Spain's response to the COVID-19 pandemic before Sánchez sent him back to Barcelona to lead his party. The Socialists are already in a coalition government in Madrid with the Sumar party, which now has six seats in the Catalan parliament. Separatists have held the regional government in Barcelona since 2012 and had won majorities in four consecutive regional elections.

Persons: Carles Puigdemont, Salvador Illa savored, Illa, Catalonia's, Sánchez, bode, Pedro Sánchez, Puigdemont, pardoning, Puigdemont's, Pere Aragonès, Vox Organizations: Socialist Party, Socialists, Sánchez's Socialists, Republican, Popular Party, Catalan Alliance Locations: Barcelona, Spain, Catalonia, Madrid, Catalan, France, Spain's, Spanish, Catalans

☆ Nvidia’s CEO was labeled a 'demanding' boss by staff. But experts say you have to be cutthroat
▼ + stars: | 2024-05-13 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

Nvidia's CEO Jensen Huang knows he's a tough boss and has no regrets about it. In a recent interview with "60 Minutes," employees at the company's Santa Clara headquarters told correspondent Bill Whitaker that the entrepreneur is "demanding," a "perfectionist," and "not easy to work for." Huang, who co-founded the chipmaker in 1993 which is now worth over $2 trillion, said this described him "perfectly." "He is to some degree cutthroat," Wladislaw Rivkin, associate professor of organizational behavior at Trinity Business School, told CNBC Make It. Many smaller companies have gone bankrupt but Nvidia "survived," Rivkin noted.

Persons: Jensen Huang, Santa Clara, Bill Whitaker, Huang, Whitaker, Wladislaw Rivkin, Rivkin, Sankalp Chaturvedi, Chaturvedi Organizations: CNBC, Trinity Business School, Nvidia, Imperial College Business School . Workers Locations: Santa, Silicon Valley

☆ Putin replaces longtime defense minister in surprise move; Russia claims gains as fighting rages in northeast Ukraine
▼ + stars: | 2024-05-13 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

Sputnik/Gavriil Grigorov/Kremlin via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. Russian President Vladimir Putin has moved his longtime ally Sergei Shoigu from the defense ministry to Russia's powerful Security Council amid a government reshuffle. Russian economist Andrei Belousov will be Russia's new defense minister, while Shoigu will replace Nikolai Patrushev, another long-standing Putin ally, as the secretary of the powerful Security Council. Shoigu had headed the defense ministry since 2012, going in to the role with no military experience, and oversaw Russia's invasion of Ukraine in February 2022. In other news, Russia's Defense Ministry on Sunday claimed more advances in the Kharkiv area of Ukraine after Russian forces launched a new offensive in the northeastern region.

Persons: Vladimir Putin, Sergei Shoigu, Staff Valery Gerasimov, Staff Sergei Rudskoi, Andrei Belousov, Shoigu, Nikolai Patrushev, Putin, Yevgeny Prigozhin, Prigozhin, Belousov Organizations: Staff, Armed Forces, Sputnik, Security Council, Wagner Group, Kremlin, Russia's Defense Ministry, Sunday Locations: Ukraine, Rostov, Don, Russia, Kremlin, Russian, Kharkiv

☆ In the EV future, Thailand, the 'Detroit of Asia,' could be a key China hedge for automakers
▼ + stars: | 2024-05-12 | by ( Vikram Barhat | ) www.cnbc.com time to read: +4 min

In this article TSLA Follow your favorite stocks CREATE FREE ACCOUNTVisitors inspect a Tesla Model Y car during the 40th Thailand International Motor Expo at the Impact Challenger hall in Nonthaburi. A Trump reelection is not even necessary: the Biden administration may introduce 100% tariffs on Chinese EVs next week, according to reporting on Friday. Chinese EV makers, including BYD, have earmarked $1.44 billion in new production facilities in Southeast Asia's second-largest economy. Tesla Thailand recently rolled out a special financing program to spur more sales. Southeast Asia is a growing auto market, and Thailand is already the region's biggest car producer and exporter, with Toyota, Honda, Nissan, Ford, GM and Mercedes-Benz having already embraced Thailand as a regional headquarters.

Persons: Goldstein, Donald Trump, Trump, Biden, There's, Tu Le, Tesla, Le, Steven Dyer, AlixPartners, Frank, Walter Steinmeier Organizations: Tesla, Getty, Auto, Nurphoto, Nikkei, Krungsri Securities, Nikkei Asia, Ford, Toyota, Honda, Nissan, GM, Mercedes, Benz Locations: Thailand, Nonthaburi, U.S, Southeast Asia, Beijing, Detroit, China, Trump, Bangkok, Nonthaburi Province, Nikkei Asia, Southeast Asia's, Shanghai

☆ Spain’s Socialists Win Catalan Vote Dominated by Amnesty for Separatists
▼ + stars: | 2024-05-12 | by ( Rachel Chaundler | ) www.nytimes.com time to read: +1 min

Spain’s governing Socialist party emerged on Sunday as the winner of regional elections in Catalonia that had been widely seen as a litmus test for Prime Minister Pedro Sánchez’s polarizing amnesty measure for separatists. The Socialists are celebrating what they claim is a momentous victory, though they did not clinch enough seats to govern on their own. They most likely face weeks of bargaining, and possibly a repeat election if no agreement is reached. But for the first time in over a decade, they may be able to form a regional government led by an anti-independence party. On Sunday, his party got only 42, meaning he will have to seek support from the pro-independence party Esquerra Republicana de Catalunya (Catalan Republican Left) and the left-wing Comuns.

Persons: Pedro Sánchez’s, Salvador Illa, Illa, Esquerra Organizations: Socialist, Socialists, Catalans, Republican Left Locations: Catalonia, Barcelona

☆ The US Army says it wants to recruit more psychological warfare 'nerds'
▼ + stars: | 2024-05-12 | by ( Cameron Manley | ) www.businessinsider.com time to read: +5 min

AdvertisementIn late 2021, the Army Special Operations Command leaders and special forces recruiters had a problem: they needed more enlistees for their Psychological Operations groups. Experts in persuasion and influence, psychological warfare, or PsyOp, soldiers don't often fit the stereotypical mold of an Army recruit. US Army via GettyThe video aims to recruit future PsyOps soldiers and show applicants what their jobs will entail." The US Ghost Army deceived the Germans using inflatable tanks, radio deception, disguises, and impersonations. This photo provided by the Ghost Army Legacy Project shows inflatable tanks in March, 1945.

Persons: —, they're, Steve Crowe Organizations: US Army, Service, Army Special Operations Command, Psychological Operations, Army, 8th Psychological Operations, Fort Liberty, Associated Press, US, Getty, Special Forces Recruiting Battalion, US Ghost Army, Ghost Army, National, AP Locations: Fort, Fort Liberty , North Carolina, China, Russia, Ukrainian, Crimea, Russian

☆ Bronze bust honoring the late Charlie Munger wowed crowd in Omaha at Berkshire meeting
▼ + stars: | 2024-05-11 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

OMAHA, Neb. — A 24-inch tall, bronze bust sculpture of the late Charlie Munger became a conversation piece for guests who lodged at the Omaha Marriott last weekend for the Berkshire Hathaway annual meeting. "I got back to the lobby and the hotel staff was like 'Doerthe came down twice to look for you,'" Yu Shu, the 39-year-old artist behind the sculpture, told CNBC in an interview. "Then they called Doerthe and she came down. I gave her a hug, and I told her 'nice to see you again' and she's like 'we've never met before.'"

Persons: Charlie Munger, Warren Buffett, — Munger's, Wendy, Doerthe Obert, Yu Shu, we've Organizations: Omaha Marriott, Berkshire Hathaway, CNBC Locations: OMAHA, Neb, Omaha, Berkshire

☆ Trump could face a $100 million tax bill after the IRS says he tried to write off the same losses twice on his Chicago skyscraper
▼ + stars: | 2024-05-11 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Read previewFormer President Donald Trump could face a $100 million tax bill after the IRS said he twice sought to write off the same losses on his struggling 92-story Chicago skyscraper, according to a New York Times and ProPublica report. In the IRS inquiry, acquired by The Times and ProPublica, the agency said Trump tried to claim tax benefits from financial losses associated with the project and that he practically wrote off those losses twice. Trump's first tax write-off for the Chicago tower came in his 2008 tax return, when sales at the building faltered below expectations. AdvertisementIn that year's tax return, Trump noted that he lost up to $651 million on the project, according to The Times and ProPublica. AdvertisementAfter looking at the inquiry, The Times and ProPublica — and tax experts — concluded that the revision pursued by the IRS would give Trump an updated tax bill exceeding $100 million, excluding any additional penalties.

Persons: —, Donald Trump, Trump, Trump's, ProPublica, Eric Trump, Jean Carroll, Carroll Organizations: Service, New York Times, Trump International, Tower, Chicago Sun, Times, Business, The Times, IRS, Trump, Trump Organization, Chicago, Prosecutors Locations: Chicago, Tower Chicago, New York

☆ Anti-government protests demand release of Gaza hostages ahead of Israel’s Memorial Day
▼ + stars: | 2024-05-11 | by ( Eugenia Yosef | Mohammed Tawfeeq | ) edition.cnn.com time to read: +4 min

CNN —Protesters took to the streets of several cities across Israel on Saturday, demanding the release of all hostages held in Gaza ahead of Israel’s Memorial Day. Families of hostages held in Gaza also took part in anti-government protests, including in Tel Aviv, Caesarea, Rehovot, and Haifa. Many waved Israeli flags and held up signs with images of the Israeli hostages, calling on the government to bring them home alive. Israeli mounted police deploy during a rally calling for the release of hostages held in Gaza outside the defense ministry headquarters in Tel Aviv on May 11, 2024. “The UK government has been working with partners across the region to secure the release of hostages, including British nationals.

Persons: Benjamin Netanyahu, Yael Adar, Tamir Adar, Tamir, ” Adar, Jack Guez, Hagit Chen, Itay Chen, “, ” Chen, Abu Obaida, Popplewell, ” Obaida, Kibbutz, Channah Peri, brother Roi Organizations: CNN — Protesters, Israel Defense Forces, Getty, Al, Brigades, Minister’s, CNN, United Locations: Israel, Gaza, Israel’s, Tel Aviv, Caesarea, Rehovot, Haifa, AFP, Kibbutz Nirim, Israeli

☆ 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

☆ Warren Buffett had to work from his iPhone for days after lines went down at Berkshire Hathaway
▼ + stars: | 2024-05-10 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett slashed his Apple stake then found himself forced to work from his iPhone. The investor turned to the device after phone lines went down this week at Berkshire Hathaway HQ. "I'm glad we didn't sell all of our Apple," Buffett joked to The Omaha World-Herald. The famed investor revealed during Berkshire Hathaway's annual shareholder meeting on Saturday that he'd slashed his Apple stake. He was nodding to Berkshire cashing in 13% of its Apple stake for roughly $20 billion last quarter.

Persons: Warren Buffett, Buffett, —, he'd, Berkshire Hathaway Organizations: Apple, Berkshire Hathaway, Service, Berkshire Hathaway's, Berkshire Locations: Omaha, Berkshire

Sam Altman, CEO of OpenAI, attends the 54th annual meeting of the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. On Friday, advanced nuclear fission company Oklo, for which Sam Altman serves as chairman, started trading on the New York Stock Exchange. Oklo's business model is based on commercializing nuclear fission, the reaction that fuels all nuclear power plants. "I don't see a way for us to get there without nuclear," Altman told CNBC in 2023. It's not Altman's only foray into nuclear energy or other infrastructure that could power large-scale AI growth.

Persons: Sam Altman, Altman, Oklo, Bill Gates, Jeff Bezos, Jacob DeWitte, hasn't, we've, DeWitte, It's, Helion, OpenAI Organizations: Economic, New York Stock Exchange, AltC, U.S . Air Force, Microsoft, Amazon, CNBC, U.S . Nuclear Regulatory Commission, NRC, DeWitte, Nvidia Locations: Davos, Switzerland, Idaho, OpenAI's San Francisco, U.S, Saudi Aramco, Rain

☆ Racism Alleged at Multiple Globe Life Affiliates
▼ + stars: | 2024-05-10 | by ( Susan Antilla | ) www.businessinsider.com time to read: +20 min

"If I'd brought it up, I would have been blackballed," he told BI. She told BI that Lobello frequently sent her racist memes he found online that contained the N-word. AdvertisementBell, in the hat at right, at a team dinner for an AIL agency then known as Giglione-Ackerman. In the areas she was assigned, she told BI, "most of the people were uninsurable" because of poor health, hard drug use, and poverty. If you work at Globe Life or AIL and have information to share about the company, please contact Susan Antilla at susan.antilla1@gmail.com .

Persons: Domenico Bertini, Chris Selejan, Rob Gray, James " Bo, E, Gentile, Organization —, Frank Svoboda, Warren Buffett's Berkshire Hathaway, Fuzzy Panda, Scott Dehning, AIL, Dehning, Jennifer Haworth, I'd, John L, Ann Marie Arcadi, Gray, Eric Giglione, Giglione, Bell, He'd, Brian W, Fraser, Popeyes, Morgan Lobello, Lobello she'd, y'all, Lobello, David Zophin, Ackerman, Andy Mercado, texted, quieted, Bell's, Raynaldo Lafontant, David Ackerman, Lafontant, Mercado, Sarah Reay, Reay, Debra Gamble, Gamble, Nicole Korkolis, Donnaya Presberry, Presberry, Abeni, Mayfield, Amy Williamson, Abeni Mayfield, Rosem Morton, Silvana Pajor Flores, Pajor Flores, Susan Antilla Organizations: Globe Life, Business, Globe, New York Stock Exchange, Texas Rangers, Dallas Cowboys, Organization, BI, Department of Justice, Research, Latina, Ackerman Agency, New Jersey Superior Court, SEAT, Giglione, Commission, Professional Employees International Union, Liberty National Division, Liberty National, Edison, AIL Locations: Kentucky, Bertini, Pennsylvania, McKinney , Texas, Michigan, West Virginia, New Jersey, Argentina, Aurora , Colorado, Edison , New Jersey, Edison, Giglione, Morgantown , West Virginia, Moon Township , Pennsylvania, Pittsburgh, Columbia , Maryland, Cumberland , Maryland, Kansas, Waco , Texas, Colorado, AIL, susan.antilla1@gmail.com

☆ Xi wants to boost trade and investment between Europe and China. It won't be easy.
▼ + stars: | 2024-05-10 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

According to the business chamber's survey, just 13% view China as a top investment destination — a record low. EU firms' China operations are 'decoupling' from their headquartersIt's not just the gloomy economy and slowing demand that are weighing on investor confidence. EU firms have also started to "decouple" their operations in China as the number of foreign nationals employed locally falls. It also makes it increasingly difficult for the China operations of the EU firms to get approval from their headquarters. The European business chamber called for "full access to legitimate and trustworthy sources of economic data" in its report.

Persons: —, Xi Jinping, It's, Jens Eskelund Organizations: Service, European Union Chamber of Commerce, Business Locations: Europe, France, Serbia, Hungary, China

Abuja, Nigeria CNN —The Duke and Duchess of Sussex landed in Nigeria on Friday, launching a three-day private visit to the West African nation, where they will meet with wounded soldiers and visit local charities, officials said. My husband was excited to jump up!” Meghan told cheering students in the school’s hall. Kola Sulaimon/AFP/Getty ImagesPrince Harry and Meghan were invited to Nigeria by the chief of defense staff, Christopher Musa, the country’s highest-ranking military official. The couple’s hosts, the Nigerian Defence Headquarters, are keen to be involved further in the Invictus Games and to be part of the wider Invictus community. Effiom Antigha, captain of Team Nigeria, told CNN last year that the games gave him a new lease on life.

Persons: Duke, Duchess of Sussex, Marshal Abidemi Marquis, “ We’re, ” Meghan, Harry, ”, Kola Sulaimon, Prince Harry, Meghan, Christopher Musa, Marquis, Oyeyemi Aderibigbe, “, Ife, Etti, ’, Ngozi, Bola Tinubu, Richard Montgomery, ” Cpl, Effiom Antigha Organizations: CNN’s Royal, Nigeria CNN, Invictus, Air, Nigerian Defence Headquarters, Lightway Academy, GEANCO Foundation, Getty, CNN, Invictus Games, World Trade Organization, Israel, Team Nigeria, Foundation Locations: Abuja, Nigeria, West African, Kola, AFP, Lagos, Nigerian, London, Los Angeles, Kaduna State, Germany, Colombia

United Nations CNN —A United Nations resolution in support of Palestinian membership passed with overwhelming support on Friday, and granted new privileges to the Palestinian Authority in its current capacity as a non-member observer state. Palestinian Ambassador to the United Nations Riyad Mansour at the UN in New York City on May 10, 2024. Eduardo Munoz/ReutersIn remarks before the vote, Palestinian ambassador Riyad Mansour spoke passionately about the plight of Palestinians in wartorn Gaza. Only member states can vote, but the Palestinian Authority can now be seated among member states in alphabetical order; submit and introduce proposals and amendments; and co-sponsor proposals and amendments. In September 2011, the Palestinian Authority failed to win UN recognition as an independent member state.

Persons: “, ”, United Nations Riyad Mansour, Eduardo Munoz, Riyad Mansour, ” Mansour, Israel Katz, Mansour, United Nations Robert Wood, Wood, United Nations Gilad Erdan, Charly Triballeau, Gilad Erdan, ” Erdan, Farhan Haq, ” Haq Organizations: United Nations CNN, Nations, Palestinian Authority, United Arab, United Nations, Palestinian, UN, Reuters, Columbia University, Authority, Security, US, Assembly, Getty Locations: Hungary, Argentina, Micronesia, Nauru, Palau, Papua New Guinea, Israel, United States, United Arab Emirates, The State, Palestine, United, New York City, Gaza, Rafah, AFP, New York

☆ The next union organizing wave is at Apple
▼ + stars: | 2024-05-10 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

Apple store workers in Towson, Maryland, made history in June 2022 when they voted to form the first union at one of the tech giant’s sleek US stores. But the union vote in New Jersey this weekend, along with other efforts across the country, could just be the beginning. The Apple workers (possibly) going on strike is going to be a spark for other workers,” Bronfenbrenner said. Workers at the Towson Town Center Apple hold their new union T-shirts after their store employees decided to join the International Association of Machinists Union. Theirs is the first Apple store in the US to vote for union representation.

Persons: Apple, ” Kate Bronfenbrenner, ” Bronfenbrenner, Jay Wadleigh, Barbara Haddock Taylor, Bronfenbrenner, There’s, “, ”, Catherine Thorbecke Organizations: New, New York CNN, Apple, Big Tech, US, Employees, National Labor Relations Board, Labor Education Research, Cornell’s School of Industrial and Labor Relations, Oklahoma City, Towson, CNN, Maryland Apple, International Association of Machinists, Aerospace Workers Coalition, Retail Employees, Workers, Towson Town Center Apple, Baltimore Sun, Tribune, Service, Getty Images, Google, Union, NLRB, World Trade, US Labor Board Locations: New York, Washington, China, Towson , Maryland, Baltimore, Maryland, New Jersey, New York City, United States, International Association of Machinists Union, Short Hills, Atlanta, Cupertino , California

☆ UNRWA to close East Jerusalem headquarters after arson attack by ‘Israeli extremists’
▼ + stars: | 2024-05-10 | by ( Hande Atay Alam | ) edition.cnn.com time to read: +3 min

CNN —The United Nations’ agency for Palestinian refugees will shutter its East Jerusalem headquarters after the compound was set on fire by “Israeli extremists” while staff were inside, its chief said Thursday. “This evening, Israeli residents set fire twice to the perimeter of the UNRWA Headquarters in occupied East Jerusalem. This took place while UNRWA and other UN Agencies’ staff were on the compound,” Lazzarini said. Israeli officials have long criticized UNRWA, which plays a central role in feeding and sheltering hundreds of thousands of Palestinian refugees. Anything less will set a new dangerous standard.”CNN has reached out to the Israeli government for comment.

Persons: ”, Philippe Lazzarini, ” Lazzarini, Lazzarini, “, UNWRA, Israel Organizations: CNN, United Nations, UNRWA, ’, UN Locations: Jerusalem, East Jerusalem, Gaza, Israel

☆ At Home With Faith Popcorn: Interior Design Tour
▼ + stars: | 2024-05-09 | by ( Joanne Kaufman | Katherine Marks | ) www.nytimes.com time to read: +1 min

Faith Popcorn, thought leader, trend-spotter and flamboyant futurist, never saw townhouse ownership in her own future. Popcorn (originally Plotkin) was living in a small studio apartment with a Murphy bed, a rental turned co-op. She felt wonderfully comfortable there — until a friend from California, who “had this gorgeous place in Beverly Hills,” came to visit. Popcorn recalled. These days, she works from home: The Upper East Side townhouse she bought in 1995 serves as home and headquarters.

Persons: Plotkin, Murphy, “, ”, Popcorn, Willie Nelson Organizations: PepsiCo, Home Depot, Pfizer, American Express, Comcast Locations: California, Beverly Hills

☆ Spain's BBVA announces $13 billion hostile takeover bid for Sabadell
▼ + stars: | 2024-05-09 | by ( ) www.cnbc.com time to read: +1 min

The headquarters of the Spanish bank BBVA are seen in Madrid, Spain. Spanish bank BBVA on Thursday presented a 12.23 billion euro ($13.11 billion) takeover bid for rival Sabadell directly to shareholders, even though Sabadell's board this week already rejected the proposal on the same terms. BBVA's decision follows Sabadell's board on Monday saying the unsolicited bid significantly undervalued the bank's potential and growth prospects. BBVA, Spain's second-biggest bank by market value after Santander, offered an exchange ratio of 1 newly issued BBVA share for every 4.83 Sabadell shares, a premium of 30% over April 29 closing prices. Spanish banks have been looking for ways to increase revenue as a boost from high interest rates begins to fade.

Persons: Carlos Torres Vila Organizations: BBVA, Sabadell, Banco, Hostile, UBI Banca, Spain's, Santander Locations: Spanish, Madrid, Spain

☆ American Airlines is flying 70 World War II veterans to France for the 80th anniversary of the D-Day landings
▼ + stars: | 2024-05-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

American Airlines announced a charter flight to France for 70 World War II veterans. AdvertisementDozens of World War II veterans will enjoy a free flight to France to commemorate the 80th anniversary of the D-Day landings. American Airlines announced Wednesday that it will fly 70 veterans aboard a chartered Boeing 787-9 Dreamliner. It will fly 60 World War II veterans directly to Normandy for the third year in a row. AdvertisementOne of the veterans being flown by AA is Frank Perry — a former pilot with Piedmont Airlines, which later became part of American.

Persons: —, Frank Perry —, Felix Maurizio, We're, David Seymour Organizations: American Airlines, Forth, Service, Boeing, Fort Worth Airport, Delta Air Lines, AA, Piedmont Airlines, Army Air Corps, US Navy, Omaha Beach Locations: France, Dallas, Forth Worth, Paris, Normandy, Omaha

☆ Instagram's top exec praised YouTube's monetization and dissed Snapchat's, as he explained his platform's approach
▼ + stars: | 2024-05-09 | by ( Sydney Bradley | Dan Whateley | ) www.businessinsider.com time to read: +6 min

Last month, the company rolled out a new temporary "Spring Bonus," which he said was called Spring Bonus and not the "permanent bonus program" because he wanted to set expectations. For Instagram's bonus program to be successful, it would need to meet three criteria, according to Mosseri:It's a sustainable model, and Meta is not "burning cash." 'The thing I'm most excited about is subscriptions'The bonus program wasn't the only feature top of mind for Mosseri. Advertisement"The thing I'm most excited about is subscriptions," Mosseri said. And while it isn't useful for every creator, Instagram recently announced that there are now 2 million active subscriptions to creators on the app.

Persons: —, Adam Mosseri, Mosseri, — Haley Kalil, Hassan Khadair —, Instagram, she's, Kalil, I'm, TikTok, Snapchat, We're, That's, it's, YouTube's Organizations: Service, Meta's, YouTube, Business, Meta Locations: York

☆ How $65 billion Marshall Wace is turning into the hedge funds it's criticized
▼ + stars: | 2024-05-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

There's a split internally at $65 billion Marshall Wace. The 27-year-old London-based hedge fund, founded by Paul Marshall and Ian Wace, has prided itself on its collaborative culture. Multi-strategy mightThe culture shift at Marshall Wace is just the latest ripple effect to come from the vast expansion of power, assets, and clout of the largest multi-strategy hedge funds. For Marshall Wace, that looks like a charge that can be up to 0.75% of the $22.4 billion Eureka fund's value — more than $150 million — on top of the set management fees and variable performance fees the firm already charges. A person close to the firm said that certain people still have access to aggregated positions, but the restriction helps Marshall Wace manage "complexity and confidentiality" as the manager continues to grow.

Persons: Marshall Wace, Paul Marshall, Ian Wace, Marshall, George Soros, It's, Marshall Wace's, You've, Dan Schatz, Ruchit, Jaime Brandwood, Derek Rosenthal, Marshall's Organizations: Business, BNP, Eureka, Citadel, Ruchit Puri Locations: London, Citadel, New York, Singapore, Shanghai, Hong Kong, Eureka

Signage stands outside the Sinclair Broadcast Group Inc. headquarters in Cockeysville, Maryland, U.S., on Friday, Aug. 10, 2018. Sinclair , one of the largest owners of broadcast stations in the U.S., is looking to sell more than 30% of its footprint, according to people familiar with the matter. Sinclair owns or operates 185 TV stations in 86 markets. Broadcast TV station groups have suffered in the past five years as millions of Americans have canceled traditional pay TV. Most stations make money from so-called retransmission fees, paid on a per-subscriber rate by traditional TV distributors, such as Comcast, DirecTV, and Charter, for the right to carry the stations.

Persons: Sinclair, Moelis, Chris Ripley, we've, Ripley, Spokespeople Organizations: Sinclair, Group Inc, Fox, NBC, ABC, CBS, Tennis, Bloomberg, Comcast, DirecTV Locations: Cockeysville , Maryland, U.S, Minneapolis, Portland, Pittsburgh, Austin , Texas, Fresno, Calif

☆ In Serbia, Xi Underlines Close Ties With Ally That Shares Wariness of U.S.
▼ + stars: | 2024-05-08 | by ( Andrew Higgins | ) www.nytimes.com time to read: +1 min

China and Serbia on Wednesday proclaimed an “ironclad friendship” during a visit to Belgrade by the Chinese president, Xi Jinping, underlining the close political and economic ties between two countries that share a wariness of the United States. Mr. Xi arrived in Serbia late Tuesday — the 25th anniversary of a mistaken 1999 airstrike involving the U.S. Air Force during the Kosovo war that destroyed the Chinese Embassy in Belgrade, the Serbian capital. Three Chinese journalists were killed in the strike. “This we should never forget,” Mr. Xi said in a statement published on Tuesday by Politika, a Serbian newspaper, recalling that “25 years ago today, NATO flagrantly bombed the Chinese Embassy.” He said that China’s friendship with Serbia had been “forged with the blood of our compatriots” and “will stay in the shared memory of the Chinese and Serbian peoples.”Mr. Xi appeared briefly on Wednesday morning with the Serbian president, Aleksandar Vucic, before a cheering crowd gathered in front of the Palace of Serbia, the former headquarters of the now defunct government of Yugoslavia that now houses Serbian government offices.

Persons: Xi, Mr, ”, “, Aleksandar Vucic Organizations: Wednesday, U.S . Air Force, Embassy, Politika, NATO flagrantly, Serbian Locations: China, Serbia, Belgrade, United States, Kosovo, Serbian, Yugoslavia

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