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Hybrid sales are booming in the US. In his latest earnings report, the company blamed demand for hybrid vehicles for depressing global EV sales. "We believe this is not the right strategy, and electric vehicles will ultimately dominate the market," he added. "A lot of hybrid electric vehicles now are not far off from their internal combustion engine alternatives. "What we've seen historically is that when gas prices rise, hybrid electric vehicle price or acquisitions rise as well," he told BI.
Persons: , Elon Musk, Nick O'Brien, O'Brien, EVs, Edmunds, Mark Singer, Tesla, Jeff Buchanan, Buchanan, Singer Organizations: Toyota, Service, EV, General Motors, Ford, Business, Jefferson Community College, Maverick, New York Times, National Renewable Energy Laboratory, Soaring, Singer, US Locations: Edmunds, North America, Kentucky
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
Citizens are shopping at a supermarket in Nanjing, East China's Jiangsu province, on March 9, 2024. China's consumer prices rose in April for a third straight month, while producer prices extended declines, suggesting resilient domestic demand, despite a shaky economic recovery. The consumer price index (CPI) edged up 0.3% in April from a year earlier, accelerating from a rise of 0.1% in March, data from the National Bureau of Statistics (NBS) showed on Saturday. CPI rose 0.1% from the previous month, reversing a drop of 1% in March and above a decline of 0.1% predicted by economists. The producer price index (PPI) dropped 2.5% in April from a year earlier, easing from a slide of 2.8% the previous month and compared with a forecast decline of 2.3%.
Organizations: National Bureau of Statistics, Labour, Communist Party Locations: Nanjing, East China's Jiangsu, China
The report also did not find that Israel had intentionally obstructed humanitarian aid into Gaza. Such a finding would have triggered a U.S. law barring military aid to countries that block such assistance. They argue that Israel has indiscriminately killed civilians with American arms and intentionally hindered U.S.-supplied humanitarian aid. Either would violate U.S. laws governing arms transfers to foreign militaries, as well as international humanitarian law, which is largely based on the Geneva Conventions. The United States provides Israel with $3.8 billion in annual military aid, and Congress last month approved an additional $14 billion in emergency funding.
Persons: Biden, Israel “, , President Biden, Israel, Israel’s, Israel ”, Brian Finucane, Finucane, , Chris Van Hollen, Netanyahu, Benjamin Netanyahu, Mr, ” “, , Josh Paul, Biden’s, John F, Kirby Organizations: State Department, Israel Defense Forces, President, Crisis, United, U.S ., Biden Administration, Israel, The State Department, Central Kitchen Locations: Israel, Gaza, United States, U.S, Rafah, Congress, Geneva, Maryland,
U.S. Energy Secretary Jennifer Granholm will visit Saudi Arabia and the United Arab Emirates next week to work on "climate co-operation" and other issues, two Biden administration officials told Reuters on Friday. The visit will run from Tuesday through Thursday, with Granholm visiting the UAE first, one of the officials said. "Specifically, for the Department of Energy, it will move forward work both countries are doing on climate cooperation and to diversify the energy economy." Saudi Arabia and UAE are both members of OPEC, which is debating whether to extend output cuts. Those talks are being led on the U.S. side by White House officials and the State Department, but not Granholm.
Persons: Jennifer Granholm, Granholm, Biden Organizations: Energy, Natural Resources, U.S . Department of Energy, . Energy, United Arab Emirates, Biden, Reuters, UAE, U.S, Department of Energy, Zero, White House, State Department Locations: Saudi Arabia, U.S, Qatar, UAE, Israel, Saudi, East
New York CNN —If you took an American Airlines flight in the 1960s, you’d be wined and dined from the Coach-class “Royal Coachman” menu. “Meal service was once a point of pride,” said Henry Harteveldt, who covers the travel industry for Atmosphere Research Group. Meal service was a big focus of [competition] because entertainment options were more limited,” Harteveldt said. The September 11 attacks accelerated the decline of free airline meals. Airline meals had been the brunt of jokes and criticism for decades, but now people miss them.
Persons: you’d, , Henry Harteveldt, Peter Stackpole, Robert Crandall, Blaise Waguespack, It’s, Beef, ” Harteveldt, Rob Welham, Molly Brandt Organizations: New, New York CNN, American Airlines, Atmosphere Research, Pan American Airline, Shutterstock Airlines, Carriers, Singapore Airlines, Michelin, Embry, Riddle Aeronautical University, , Smithsonian, ” Airlines, “ Airlines, British Airways, Camera, Airlines, Continental Airlines, North America, mojo Locations: New York, Daytona Beach , Florida, Delta, North
Cowbells herald a third Trump outburstDonald Trump at his criminal hush-money trial with lawyers Todd Blanche, left, and Emil Bove. I will not tolerate that," state Supreme Court Justice Juan Merchan complained of Trump to defense lawyer Todd Blanche, his voice raised. Then there was Stormy DanielsA courtroom sketch of Stormy Daniels on the witness stand in Donald Trump's hush-money trial. Defense lawyer Susan Necheles questions Stormy Daniels as Donald Trump and Judge Juan Merchan look on. Advertisement"As recently as, I believe, Wednesday night, he was on TikTok," Blanche, the defense lawyer, complained to Merchan before court broke for the week on Friday.
Persons: , Donald Trump, Trump, riled Trump, they're, Debbie Walsh, Walsh, Donald Trump's, Allison Greenfield, enemies.i Curtis, David Dee Delgado, Arthur Engoron, who'd, Greenfield, Jean Carroll Donald Trump, Jean Carroll, Andrew Kelly, Luiz C . Ribeiro, Lewis Kaplan, audibly —, Carroll, Roberta Kaplan, Cowbells, Todd Blanche, Emil Bove, Jabin, Michael Cohen, Stormy Daniel, Joe Biden's, Juan Merchan, Stormy Daniels, Jane Rosenberg, Daniels, swatting Trump, Merchan, audibly, — Daniels, Blanche, Susan Necheles, Mary Altaffer, Michael Cohen Cohen — Trump's, fining Trump, Cohen, he's, MAGA Organizations: Service, Business, Trump, Center for American Women, REUTERS, New York Daily News, Tribune, Getty, Reuters, GOP, AP Locations: Manhattan, York, New, New York City, Lake Tahoe, New York
download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The subsequent uproar resulted in Thomas updating financial disclosures to indicate his ties to the conservative donor. "I think what you are going to find and especially in Washington, people pride themselves on being awful. It is a hideous place as far as I'm concerned," Thomas told his Friday audience, per the AP. Representatives for Thomas and the Supreme Court did not immediately respond to a request for comment.
Persons: , Clarence Thomas, he's, Thomas, Justice, Kathryn Kimball Mizelle —, Donald Trump, it's, Harlan Crow, Ginni Thomas Organizations: Service, Circuit Judicial, Associated Press, Business, US, The New York Times, Finance Locations: Clear , Alabama, Washington
But it will also add new tariffs to semiconductors and solar equipment, according to one of the people, as well as hiking EV tariffs. Chinese-made medical supplies like syringes and personal protective equipment also face additional tariffs, sources told Reuters. The long-awaited tariff update comes after a number of lawmakers have called for massive hikes on Chinese vehicle tariffs. Tariffs on Chinese EVs will roughly quadruple under the new Biden plan, the Wall Street Journal reported, citing people familiar with the matter. Senate Banking Committee Chairman Sherrod Brown wants the Biden administration to ban Chinese EVs outright, over concerns they pose risks to Americans' personal data.
Persons: Joe Biden, Donald Trump, Biden, Sherrod Brown Organizations: Gateway Technical College, Reuters, Wall Street Journal, U.S . Trade Locations: Sturtevant , Wisconsin, U.S, China
David DePape is facing a 40-year sentence for his attack on Rep. Nancy Pelosi's husband, Paul. DePape was found guilty in November of assaulting Paul Pelosi and attempting to kidnap Nancy Pelosi. AdvertisementDavid DePape is facing a possible 40-year sentence for his 2022 attack on Paul Pelosi, husband of Rep. Nancy Pelosi. In a sentencing memo filed Friday and reviewed by Business Insider, prosecutors requested a terrorism enhancement be added to DePape's sentence. This story is available exclusively to Business Insider subscribers.
Persons: David DePape, Nancy Pelosi's, Paul, DePape, Paul Pelosi, Nancy Pelosi, Organizations: Prosecutors, Service, Business
Heavy seasonal rains have set off flash floods across Afghanistan, killing at least 50 people in one province, leaving 100 more missing and displacing thousands of others on Friday, officials said. The flood’s toll in the northern province of Baghlan, which appeared to have suffered the worst devastation on Friday, was likely to rise, said Hedayatullah Hamdard, the director of the provincial disaster management department. Flooding on Friday also killed at least one person in Badakhshan, a mountainous eastern province, where it destroyed homes, small dams and bridges and killed 2,000 livestock, the provincial diaster management department said. Floods also occurred in the provinces of Ghor and Herat, in central and western Afghanistan, according to the Taliban government. Doctors were also being deployed in Parwan Province, north of Kabul, said Hekmatullah Shamim, the spokesman for the province’s governor, though details of the flood’s toll there were not immediately available.
Persons: Hedayatullah Hamdard, Hekmatullah Shamim Locations: Afghanistan, Baghlan, Badakhshan, Ghor, Herat, Parwan Province, Kabul
Bill Nye the CNNThe massive solar storm could present “a real danger,” especially with the modern world relying so much on electricity, according to Bill Nye the Science Guy, a science educator and engineer. In comparison to tonight's event, Nye drew comparisons with another incident in 1859, known as the Carrington Event, when telegraph communications were severely affected. “The other thing, everybody, that is a real danger to our technological society, different from 1859, is how much we depend on electricity and our electronics and so on,” Nye said. "None of us really in the developed world could go very long without electricity." He noted that there are systems in place to minimize the impact, but “stuff might go wrong,” stressing that not all transformers are equipped to withstand such a solar event.
Persons: Bill Nye, Science Guy, Nye, ” Nye Organizations: CNN, Science
Party boats that sell alcohol on board will also be prohibited to be within one nautical mile of the areas included in the decree. The original 22-article decree introduced in 2020 was sparked by media reports of “uncivil behavior in certain tourist areas” of Mallorca and Ibiza, attributed in large part to alcohol consumption. That behavior had damaged the image of the destinations and given rise to a nightlife scene that diminished the areas for residents. The decree outlined measures for tourist accommodations, the sale and advertising of alcoholic beverages, sanctions and other measures to curb dangerous or disruptive behavior. The newly modified Responsible Tourism Decree allocates 16 million euros (about $17.2 million) from a sustainable tourism tax to help the affected areas finance projects to encourage responsible tourism.
Persons: CNN — Organizations: CNN, Party, , Canary Islands Locations: Ibiza, Mallorca
sam-altman-nuclear-startup-oklo-correction
  + stars: | 2024-05-10 | by ( ) www.cnbc.com   time to read: 1 min
Altman interviewed with CNBC on the relationship between nuclear energy and the growing demand for AI in 2023. An earlier version of this article misstated the year.
Persons: Altman Organizations: CNBC
Europe’s best long-distance hiking trails
  + stars: | 2024-05-10 | by ( Joe Minihane | ) edition.cnn.com   time to read: +12 min
Slovenian Mountain Trail, SloveniaMountaineers climbing ridge on Triglav mountain, Slovenia. Enrique Ugarte/Moment RF/Getty ImagesIt’s no surprise that the Slovenia Mountain Trail has become so popular. Laugavegur Hiking Trail, IcelandInaccessible during winter, Iceland’s ethereal Laugavegur Hiking Trail opens between July and September, drawing in committed hikers from across the globe. The 55-kilometer (34-mile) route is best done over four days, giving time to tackle the challenging terrain and take in the views. Sheep’s Head Way, Cork, IrelandThe Sheep's Head Way explores Ireland's wild Atlantic coast.
Persons: It’s, Lapland’s Salla, King Charles III, Enrique Ugarte, John Muir, Muir, Muir’s, Mount Gamila, James, Alex Treadway, St James, Jean, Les Houches, Mont, Rota, Marc Guitard, marveling Organizations: CNN, Slovenia Mountaineers, Getty, Maribor, Triglav, National Parks ”, Sierra Club, Guinness, Hellas, Via Locations: Trail, Sweden, Hyssna’s, Gothenburg, Lilla Hålsjön, Finland Finnish Lapland, Finland, It’s, Hautajärvi, Lapland’s, Kuusamo, King Charles III England, England, Cornwall, Suffolk, Norfolk, Slovenia, Triglav, Ankaran, Adriatic, Julian, Scotland, Yosemite, United States, Helensburgh, Firth, Clyde, Dunbar, Forth, Loch Lomond, Mount, Zagoria, Greece, Mount Gamila, Apuseni, Romania, Europe, Camino Frances, France, Spain, Santiago, Santiago de Compostela, Galicia, Portugal, Camino, St, Pamplona, Leon, Sarria, Via Uno, Italy, Dobbiaco, Belluno, Passo Falzarego, Switzerland, it’s, Zernez, Blanc , France, Blanc, Les, Mont Blanc, Fishermen’s, Portuguese, Alentejo, Algarve, Iceland, Landmannalaugar, Brennisteinsalda, Hvanngil, Cork, Ireland, Bantry, Mizen
Johannesburg, South Africa CNN —It was a phone call that changed everything. “We have some good news.”Mmakgabo Helen Sebidi had been waiting to hear those words for more than 30 years. Origins of an artistSebidi was born in 1943 near Hammanskraal, South Africa, north of Pretoria. One of artist Mmakgabo Helen Sebidi's early works, which often depict traditional, rural scenes of a time before European colonization came to the African continent. “We need those freedoms.”Mmakgabo Helen Sebidi’s exhibition is on display at the University of Johannesburg Art Gallery until May 17, 2024.
Persons: , Helen Sebidi, ” Sebidi, Sebidi, , John Koenakeefe Mohl, Mmakgabo Helen Sebidi “, Mark Read, Everard, “ Helen, Read, Mmakgabo Helen Sebidi's, Helen Sebidi “, , – Sebidi, Kim Berman, , Helen Sebidi's, Mmakgabo Helen Sebidi Sebedi, Gabriel Baard, ” Baard, ” Berman, Thabo Mbeki –, Jesper Osterberg, Gabriel Baard Baard, Everard Read, Helen Sebidi’s Organizations: South Africa CNN, South, CNN, Johannesburg Art Foundation, Everard Read, Galleries, Federated Union of Black Artists, Millary Colony, Arts, Nyköping Folk, School, University of Johannesburg, , Smithsonian, Folk High School, Swiss Air Freight, University of Johannesburg Art, Swedish Embassy Locations: Johannesburg, South Africa, Sweden, Hammanskraal, Pretoria, New York, Swedish, Nyköping, Black, , Stockholm, Sebidi
CNN —Three flight attendants are winning praise for successfully defusing a physical fight between two passengers on board an EVA Air flight. That’s when three female flight attendants stepped in to handle the situation, says EVA. “The company has always adopted a zero-tolerance policy towards incidents of passenger nuisance,” EVA told CNN in the statement. Following the incident, EVA publicly expressed its “sincere gratitude” to its employees and vowed to look into the incident further. That same year, EVA reversed its policy of only hiring women as flight attendants and said it would hire men as cabin crew members too.
Persons: BR08 Organizations: CNN, Wednesday, San Locations: Taipei, San Francisco, Taiwan
Police face pro-Palestinian protesters in central Malmo during the 68th edition of the Eurovision Song Contest (ESC) in Malmo Arena, Sweden, on May 9. More than 150 million people around the world will watch Saturday's Eurovision final on TV, and around 15,000 fans will gather inside the Malmo Arena. Those protesting or boycotting the song contest say it is “artwashing” the conflict; others defend Israel’s inclusion, insisting the contest should not be dragged into geopolitics. And they are leading to perhaps the tensest three minutes in the contest’s history, when Israel’s competitor, Eden Golan, performs live. “I would imagine the scale of it in Malmo would be bigger than anything we’ve ever seen before.”Read the full analysis.
Persons: Johan Nilsson, ” Paul Jordan, , Weeks, Eden Golan, ” Jordan, Organizations: Malmo Arena, Getty, Music, Malmo, Eurovision, CNN Locations: Malmo, Sweden, AFP, Swedish, Gaza, Israel
Ford Motor on Friday named the former chief financial officer of electric vehicle startup Lucid to replace its current CFO, who is being promoted to more closely oversee the company's ongoing turnaround plan. The ex-Lucid executive, Sherry House, will join Ford first as finance vice president in early June. She's set to transition into the CFO role in early 2025, the company said in a press release. In the meantime, current CFO John Lawler will continue in his position while expanding his role to become vice chair. "Make no mistake, EVs are coming, EVs are part of the future," Lawler had told CNBC back in February.
Persons: John Lawler, Linda Zhang, Sherry House, She's, Lawler, Ford, Sherry, Jim Farley Organizations: New York Stock Exchange, Ford, CNBC, Lucid Motors, General Motors Locations: New York City , New York, U.S, Saudi Arabia
John F. Kirby, a White House national security spokesman, said President Biden is concerned that an Israeli assault on Rafah would strengthen Hamas. Smashing into Rafah, in his view, will not advance that objective, will not get to that sustainable, enduring defeat of Hamas. But Mr. Biden has grown increasingly wary of a major assault in the densely populated city of Rafah in southern Gaza. Credit... Abir Sultan/EPA, via ShutterstockMr. Kirby also tried to assuage concerns that the United States was breaking with its closest ally in the Middle East. Mr. Biden’s decision to pause certain weapons shipments to Israel underscored brewing frustrations between Mr. Biden and Prime Minister Benjamin Netanyahu of Israel.
Persons: John F, Kirby, Biden, Israel “, ” Mr, Israel —, Israel, Mr, CNN’s Erin Burnett, Abir, Biden’s, , Benjamin Netanyahu, Netanyahu, God’s, Organizations: White House, ., American, Congress Locations: Rafah, Israel, Gaza, United States, , I’m, Israeli, Abir Sultan, Egypt
Longevity businessman Peter Diamandis is working to combat the muscle loss that comes with aging. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementBusinessman Peter Diamandis is what you might call a longevity chaser. And, he's founded at least a couple of longevity clinics, plus a new $101 million XPRIZE for human healthspan. This story is available exclusively to Business Insider subscribers.
Persons: Peter Diamandis, , He's, he's Organizations: Service, Business Locations: Panama City
AI skeptics — who are legion, and not necessarily part of the fringe tin foil hat crowd — are begging Silicon Valley to take a beat before unleashing AI to the world. Then, the big reveal: It’s all contained in Apple’s new iPad, its thinnest and most powerful ever, thanks to its brand new AI chip. Meanwhile, is anyone else getting inundated with Google’s Pixel ads, which show people giddily using the smartphone’s AI photo-editing software to deceive their online followers? Apple is expected to announce its own ChatGPT-like tools that could be a game changer for your internet searches. The Jeff Goldblums of the AI debate — who include some of the industry’s own pioneers — are not necessarily saying we have to smother AI and pretend it never existed.
Persons: CNN Business ’, Jeff Goldblum’s, , John, that’s, , Cher’s, Asif Kapadia, , Luke Barnett, Apple, Tim Cook, Apple’s, Siri, I’ll, We’re, Jeff Goldblums, weren’t Organizations: CNN Business, New York CNN, Google, Apple, Space Invaders Locations: New York
Read previewUS bases and aircraft in the Pacific are facing intense threat from Chinese missiles, and the Pentagon isn't doing enough to counter that challenge, according to American lawmakers. In a Wednesday letter to Air Force Secretary Frank Kendall and Navy Secretary Carlos Del Toro, 13 members of Congress pointed out glaring vulnerabilities in the Pacific region and demanded "immediate changes." A U.S. Air Force Rockwell B-1B Lancer (L) and a Boeing KC-135 Stratotanker (R) sit on the tarmac at Andersen Air Force base on August 17, 2017, in Yigo, Guam. Justin Sullivan/Getty ImagesIn the letter, lawmakers note that many of the US bases in the Pacific remain unhardened, leaving aircraft and assets vulnerable to missile strikes. Notably, none of the US shelters were in Guam — home to Andersen Air Force Base which routinely hosts American bombers.
Persons: , Frank Kendall, Carlos Del Toro, John Moolenaar, Justin Sullivan, Tom Shugart, Timothy A, Walton, Andy Wong Organizations: Service, Pentagon, Air Force, Business, Department of Defense, Chinese Communist Party Rep, Commonwealth of, Pacific ., U.S . Air Force Rockwell, Boeing KC, Andersen Air Force, US, Center, New, New American Security, Hudson Institute, Andersen Air Force Base, American, People's Liberation Army Rocket Force, Lawmakers, Rocket Force, China's Locations: Pacific, China, Okinawa, Guam, Commonwealth, Northern Mariana, U.S, Yigo, New American, Shugart, Tiananmen, Beijing
Dramatic blasts of particles from the surface of the sun have prompted the National Oceanic and Atmospheric Administration to issue a severe geomagnetic storm warning. As nuclear reactions occur on the sun, it routinely expels material from its surface. This type of space weather is what creates auroras, also known as the northern and southern lights, depending on the hemisphere in which you live. During the current geomagnetic storm, the aurora or northern lights may extend as far south as Northern California or Alabama. The latest eruptions were first observed early on Wednesday morning, with at least five heading in the direction of Earth.
Organizations: Oceanic, Atmospheric Administration Locations: Northern California, Alabama
Sir Jim Ratcliffe, Manchester United co-owner, is banning remote work for the club's staff. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe billionaire co-owner of Manchester United, Sir Jim Ratcliffe, has told staff that he's banning work from home after key metrics were missed at one of his companies. In an all-hands video call last week, Ratcliffe told staff that they would need to start coming into the office or "seek alternative employment," The Guardian reported. The billionaire is coming in strong by shaking off the company's post-COVID flexible work policy to boost productivity.
Persons: Sir Jim Ratcliffe, , Ratcliffe Organizations: Manchester United, Apple, Dell, Service, Guardian, 103rd, Business
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