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☆ Mount Everest: Nepal to remove trash and dead bodies from world’s tallest mountain
▼ + stars: | 2024-04-09 | by ( Lilit Marcus | ) edition.cnn.com time to read: +2 min

CNN —As the 2024 Himalayan mountaineering season gets underway, another high-altitude project is in the works: removing tons of trash from Mount Everest. According to the Nepali army, the Mountain Cleanup Campaign collected 110 tons of waste between 2019, when the program started, and 2023. These bodies are of climbers who perished while attempting to summit the world’s highest peak. As a result, overcrowding and trash have been two of the biggest problems plaguing Everest in recent years. In addition, 2024 will be the first time that all Everest climbers are issued tracking chips, which can aid in search and rescue missions.

Persons: Sherpas, Diwas Pokhrel, CNN’s Esha Mitra, Amy Woodyatt Organizations: CNN, Unilever, Everest Base, Everest, Everest Summiteers Association Locations: Everest, Nepal

☆ Police Raid Peruvian President’s Home, Looking for Rolex Watches
▼ + stars: | 2024-03-30 | by ( Mitra Taj | ) www.nytimes.com time to read: 1 min

The police and prosecutors in Peru carried out a surprise raid at the home of President Dina Boluarte and the presidential palace early Saturday as part of an “unlawful enrichment” investigation into news reports that she had been seen wearing Rolex watches since taking office. The raid, which came as Peruvians were celebrating the Holy Week holiday, shocked many people, even in a country that has grown accustomed over the past two decades to politicians investigated for alleged corruption. Before midnight on Good Friday, the police used a battering ram to force their way into Ms. Boluarte’s home in Lima, according to live coverage on Latina Noticias. Prosecutors and the police then searched Ms. Boluarte’s office and residence in the presidential palace.

Persons: Dina Boluarte, Boluarte’s Organizations: Latina Noticias, Prosecutors Locations: Peru, Lima

☆ Ivanka Trump's style has done a full 360° since ditching her father's campaign and distancing herself from politics — just check her Instagram
▼ + stars: | 2024-03-10 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +7 min

Read previewIvanka Trump's days as a prominent White House advisor are behind her, and she's got a new image in the works. Donald Trump and Ivanka Trump on March 20, 2020 in Washington, DC. AdvertisementJared Kushner and Ivanka Trump walk on the south lawn of the White House on November 29, 2020. In the White House, Ivanka's style was professional and predictableAs an advisor, Ivanka's style while working at the White House can be summed up in a few words: professional, feminine, and safe. AdvertisementDon Jr., Donald Trump, and Ivanka Trump on "The Celebrity Apprentice" in 2009.

Persons: —, she's, It's, Donald Trump, Ivanka Trump, Alex Wong Namely, Ivanka, Jared Kushner, Tasos Katopodis, Trump, minidresses, Don Jr, Bill Tompkins, Escada, Marcus, Steven Mnuchin, Oscar, la, Neiman Marcus, Donald, Mitra Ahouraian, I'm, Alessandra Rich, Emilio Pucci, Pucci, Kim Kardashian, Monique Lhuillier, Ahouraian, Kardashian, Kushner, Ambani, Manish Malhotra Organizations: Service, White, Business, New York, Trump Org, White House, Getty, Neiman, Footwear News, United, Treasury, Mail, Gucci, Miami Grand Prix, Footwear, Fontainebleau Locations: Washington , DC, New, New York City, Florida, New York, United States, Fontainebleau Las Vegas, India

☆ What Is Going on at Machu Picchu?
▼ + stars: | 2024-01-30 | by ( Mitra Taj | ) www.nytimes.com time to read: +1 min

Hundreds of tourists were stranded near Machu Picchu, Peru’s most-visited site, over the weekend after demonstrators blocked railway and bus routes to the site and shut down local shops and restaurants in Aguas Calientes, the gateway to Machu Picchu, in the country’s Cuzco region. The protesters had taken to the streets on Thursday to demand the government rescind a contract that allows a company to sell tickets to Machu Picchu for the first time. Tickets had previously been sold through the office of culture in Cuzco, which is controlled by the regional government. While Machu Picchu is officially open, train service to Aguas Calientes and buses that take tourists to the citadel remain suspended. Machu Picchu, believed to be a 15th-century getaway for Incan royalty, received some 2.2 million visitors last year, below prepandemic levels of 4.6 million.

Organizations: Protesters, U.S . Embassy, UNESCO Locations: Machu Picchu, Aguas Calientes, Cuzco, U.S, Peru

☆ 2023 has been an AI feeding frenzy, here are the startups that attracted the most investment this year
▼ + stars: | 2023-12-04 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

Despite an overall slump in startup funding, 2023 saw a scramble among investors to pour money into AI and machine learning startups. And the company's star still appears to be rising, despite a messy leadership struggle that recently spilled into public view. Meanwhile OpenAI's perennial rival Anthropic attracted multi-billion dollar investments from both Google and Amazon to fund a competing AI model known as Claude. At the same time legacy companies from John Deere to accounting firm PwC played up their AI bona fides to capitalize on the hype. The list doesn't include startups who have not publicly released the amount of their funding rounds.

Persons: OpenAI, Anthropic, Claude, Databricks, John Deere, PwC, Fresh Organizations: Microsoft, Google, Alpha, Technology, Monogram, Sigma, Lambda, Helsing, Metals, Eagle Eye, Amelia, Asimov, Farmers Business, Harbinger, Prins, Silo, Mistral, Alto, AMP, Management Software, Universal, Coro, Kodiak Robotics, Aerospace, Defense, Sana, Corti, Kyte, Mitra, Tech, Boss Digital Technology, Halcyon, & $ Locations: PitchBook

☆ Where Will CD Rates Go in 2024?
▼ + stars: | 2023-11-29 | by ( Mallika Mitra | ) www.wsj.com time to read: +7 min

Interest rates that banks pay on certificates of deposit are closely tied to short-term interest rates set by the Federal Reserve. Now that the inflation rate has come down, many investing pros see two possible outcomes for interest rates in 2024: one in which the Fed has little choice but to cut rates steeply, and another in which the Fed can cut rates modestly. Either scenario would eventually result in CD rates decreasing, since rates on CDs tend to quickly follow Fed moves. Where will CD rates go in 2024? But if investors are correct that rate cuts are coming, those high CD rates will come down over the next few years, too.

Persons: Mallika Mitra, “, ”, Lili Vasileff, Leslie Falconio, “ They’re, you’ll, you’re, Jeremy Keil, ” Keil, Keil, “ You’ve, Ally Organizations: Federal Reserve, UBS, Wall, Federal Credit Union, Minnequa Works Credit Union, Federal Deposit Insurance Corporation, National Credit Union Administration Locations: Greenwich, Conn, U.S, Milwaukee, APYs

☆ Hundreds of Rohingya come ashore in Indonesia, joining about 1,000 this week
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

During November to April, when the seas are calmer, many members of the persecuted minority leave Myanmar on rickety boats for Thailand, Muslim-majority Bangladesh, Malaysia and Indonesia. Mitra Salima Suryono, a spokesperson for the U.N. refugee agency in Indonesia, said there did not appear to be any particular reason for the big number of Rohingya arriving. Mitra said Aceh villagers had tried to prevent hundreds of Rohingya arriving in the Bireuen area in northeast Sumatra last week although they eventually came ashore on Sunday. For years, Rohingya have left Buddhist-majority Myanmar where they are generally regarded as foreign interlopers from South Asia, denied citizenship and subjected to abuse. Usman Hamid, the director of rights group Amnesty International Indonesia, called for authorities to take in the Rohingya and talk with neighbours, especially Malaysia and Thailand, where Rohingya also often stop.

Persons: Rohingya, Adek, Mitra Salima Suryono, Mitra, Usman Hamid, Stanley Widianto, Robert Birsel Organizations: Reuters, Indonesia's, Amnesty International, Thomson Locations: JAKARTA, Indonesia's Aceh, Myanmar, Thailand, Muslim, Bangladesh, Malaysia, Indonesia, Sabang, Aceh, Sumatra, South Asia, Bangladeshi, Cox's Bazar, Amnesty International Indonesia

Ustrell is one of scores of European winemakers struggling to grow enough grapes as extreme and unseasonable weather becomes more commonplace. Falling prices, rising costsAcross the border, French winemakers are grappling with the opposite problem: Too much wine. Many French winemakers have suffered as retail prices have fallen this year. Charly Triballeau/AFP/Getty ImagesFrench winemakers struggling to sell their own produce have taken out their anger on imports from Spain. The supply of French wine has exceeded waning demand in France and abroad this year.

Persons: New York CNN — Jordi Ustrell, “, Celler, Ustrell, Giogio Delgrosso, Delgrosso, Greg Jones, ”, hasn’t, pip Italy, ’, Charly Triballeau, Rouanet, Michael Baynes, they’ve, Baynes, Arnaud Finistre, John Mitra, Penelope, It’s, Penelope Mitra, Faure Haut Normand, John Mitra More, Mitra Organizations: New York CNN, CNN, International Organisation for Vine, European Union, Getty, European Commission, Vineyards, Estate, “, Burgundy Wine Company Locations: Paris, New York, Spanish, Gratallops, Italy, Spain, Australia, South Africa, Chile, United States, an Oregon, Oregon, Barcelona, Sauvignon, France’s Bordeaux, France, French, Toulouse, AFP, Aude, Bordeaux, Argentina, Burgundy

☆ Can’t Think, Can’t Remember: More Americans Say They’re in a Cognitive Fog
▼ + stars: | 2023-11-13 | by ( Francesca Paris | ) www.nytimes.com time to read: +1 min

Because the census relies entirely on self-reporting, experts say the data could also be capturing a shift in how people perceive their cognition, even absent changes to their health. People with disabilities might have taken note of rising disability acceptance and become more likely to answer the census questions honestly, researchers say. Some young people may have been influenced by what disability researchers describe as increased awareness and acceptance of neurodiversity during the pandemic, as videos about mental illness and developmental disorders proliferated online, often encouraging people to self-diagnose. Most of the increase is probably capturing real changes in people’s health, she said. “We need to understand who these people are, how they’re being impacted and what we can do about it.”

Persons: Sibley, ‘ I’m, ”, Monika Mitra Organizations: Lurie Institute for Disability, Brandeis University

You shouldn't expect high-yield savings account interest rates to drop anytime soon. High-yield savings accounts are a great choiceDespite the fact that APYs will likely fall eventually, high-yield savings accounts can still be a really good place to put your money. "By its nature a high-yield savings account will still provide more interest than an ordinary savings account at a major bank," Herzog says. In fact, now may be the time to take advantage and put funds into a high-yield savings account if you haven't already. "If we see more talk of interest rates slowly declining, I think there will be more interest in longer-term securities or options to lock in those interest rates," Valega says.

Persons: —, you'll, we're, Andrew Herzog, Herzog, Catherine Valega, It's, Valega, it's Organizations: Service, Federal Reserve, Fed, Green Bee

☆ Second Israeli airstrike in two days pummels Gaza refugee camp, deepening a growing outcry
▼ + stars: | 2023-11-02 | by ( Sofia Mitra-Thakur | Helen Regan | ) edition.cnn.com time to read: +8 min

He told CNN more bodies were being dug out of the rubble, and the majority of casualties were women and children. Some were bleeding and others were burnt,” Mohammad Al Aswad told CNN by phone. Meanwhile, the main generator for the Gaza Indonesian Hospital went out of service Wednesday night, Dr. Atef Al Kahlout, the head of the hospital, told CNN Thursday. Her niece Leah Okumura told CNN Ramona was now resting at a hotel. Forty-five injured Palestinians are also currently getting treatment in three hospitals across Egypt, an Egyptian government official told CNN.

Persons: Jabalya, Atef Al Kahlout, “, ” “, Ali Jadallah, Mohammad Al Aswad, Ibrahim Biari, ”, Jordan, General Itzik Cohen, Daniel Hagari, Philippe Lazzarini, Al Shifa, Al Kahlout, Hatem Ali, Ramona Okumura, amputees, Leah Okumura, CNN Ramona Organizations: Jerusalem CNN, Civil Defense, Hamas, CNN, Israel Defense Forces, Getty, IDF, United Nations Human Rights, Palestinian Ministry of Health, Wednesday, UN, AFP, United Nations, United Nations Relief, Works Agency for Palestine Refugees, Gaza Indonesian Locations: Gaza, Jerusalem, Israel, Egypt, Rafah, Falluja, Gaza City, Anadolu, Ramallah, That’s, Israel’s, Chile, Colombia, Gaza . Bolivia, Al, Cairo, Seattle

CNN witnessed the skies of Northern Gaza illuminated by flares and explosions as the bombardment intensified late Thursday night. Israel Defense Forces spokesman Lt. Col. Jonathan Conricus claimed the strike was targeting a Hamas commander hiding in an underground bunker and that when the complex imploded it possibly collapsed nearby buildings. The Israel military says there are fuel supplies in Gaza being held by Hamas, which are not being distributed for humanitarian purposes, CNN has reported. Pentagon officials believe Israel has been striking legitimate Hamas targets, including some senior commanders. Blinken plans to raise the issue in his talks with Israeli officials Friday, according to a person familiar with the matter.

Persons: Joe Biden, Biden, Lloyd Austin, Antony Blinken –, –, “ didn’t, ”, Jonathan Conricus, Benjamin Netanyahu, Netanyahu, Israel, Blinken, “ I’m, Base Andrews, “, Sen, Chris Murphy of, Austin, Yoav Gallant, CQ Brown, Herzi, Gabriel Boric, Boric, CNN’s Oren Liebermann Organizations: Washington CNN, Israel, Israel Defense Forces, CNN, White, Israeli, Sunday, West Bank, Hamas, Base, Pentagon, Joint Chiefs, Staff Locations: Israel, Gaza, Gaza City, Northern Gaza, Minnesota, Chris Murphy of Connecticut, Chile

☆ The Fed decision on interest rates won't offer much relief to Main Street businesses
▼ + stars: | 2023-11-01 | by ( Mallika Mitra | ) www.cnbc.com time to read: +5 min

The average monthly credit card expenditure of U.S. small businesses is up by an average of 20% compared to pre-pandemic levels, according to a recent report by Intuit QuickBooks. Around 1,660 small businesses have filed for bankruptcy in 2023 so far, which is higher than in all of 2022, according to the American Bankruptcy Institute. Access to capital for small businesses is at an economic cycle low. Getting a business credit card is much easier than getting a loan from a bank, Akcigit said. Power, who leads research on small business credit cards at the firm.

Persons: Jerome Powell, Ufuk, Intuit QuickBooks, Goldman Sachs, Akcigit, John Cabell, Cabell Organizations: Fed, Federal Reserve, Bureau of Labor Statistics JOLTS, Intuit QuickBooks, University of Chicago, Intuit, American Bankruptcy Institute, Goldman Locations: ., U.S

The mass shooting upended life in Lewiston and surrounding communities, injecting fear into the area and ripping families apart. A mourner attends a candlelight vigil for the victims of this week's mass shootings on October 28, 2023, in Lisbon Falls, Maine. The ex-wife and son said their plan was to stay away from Card, according to the documents. Due to an ongoing Army investigation, we cannot go into any further details,” the email statement from Castro, the Army spokesperson, said. His commander said they were trying to get treatment for Card and that “he thought it best to let Card have time to himself,” the sheriff’s office added.

Persons: Robert Card, “, Ruth Castro, –, Janet Mills, mourner, Robert F, Card’s, Card, Jack Clements, WMTW, Castro, teletype, ” “ Robert, Joel Merry , ” Merry, Mike Sauschuck, Matt Rourke, Michael Sauschuck, I’ve, I’m, ” Sauschuck, ” CNN’s Mark Morales, Linh Tran, Sara Smart, Andy Rose Organizations: CNN, US Army, Army, Sagadahoc County Sheriff’s Department, Card, Schemengees, 3rd Battalion, Army Reserve, Sheriff’s, Saco Police, National Guard, Public, Card Investigators, Subaru, Smith, Wesson, Maine Department of Public Safety, Maine Public Locations: Lewiston , Maine, Sagadahoc County, Lewiston, United States, Maine, Lisbon Falls , Maine, Saco, West Point, Sagadahoc, WMTW Maine

High-yield savings accounts have seen huge APYs in recent times, but those rates may not last forever. Earn top savings rates and manage it all with a single secure login. But when should you ease up on your savings accounts and consider investing your money instead? That can make investing much more attractive than a savings account — even in a high-yield savings account — if you have a longer time horizon. Alternatives to HYSAsYou don't have to decide between a savings account and investing in a retirement savings account — like a 401(k) or an IRA — or a taxable brokerage.

Persons: —, Banks, Laura Mattia, Steve Oniya, Oniya, Tony Corsino, Mattia, you'd Organizations: Treasury, Service, Federal Reserve, Advisors, OM Investments, Zen Financial

☆ Ivanka Trump spent 2.5 years distancing herself from dad Donald. Now she's back as a socialite — and partying with Kim Kardashian.
▼ + stars: | 2023-10-24 | by ( Kelsey Vlamis | Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +9 min

Ivanka Trump has spent the past two and half years publicly distancing from her father Donald Trump. But Mitra Ahouraian, an entertainment attorney with high-profile clients, said she wasn't surprised to see Ivanka Trump and Kardashian together. Ivanka was a Manhattan socialite before entering politics changed her reputationBefore her stint in politics, Ivanka Trump was an active Manhattan socialite, frequently appearing at red-carpet events and supporting various charitable causes. Ivanka Trump and Kim Kardashian have known each other for yearsAs for Kardashian's embrace of Ivanka Trump, their relationship goes back years. But after the birthday party showing this weekend, it's clear Ivanka Trump is visibly back in Kim Kardashian's circle, and has re-entered the role of Ivanka Trump, the socialite.

Persons: Ivanka, Kim Kardashian's, —, Ivanka Trump, Donald Trump, it's, Donald Trump's, Kim Kardashian, Kardashian, Trump, Hailey Bieber, Lauren Sanchez, Jeff Bezos, Mitra Ahouraian, wasn't, Ahouraian, I'm, Robert Kardashian, OJ Simpson, Andrew Lieb, Lieb, she's, Donald, Jr, " Lieb, Nordstrom, Neiman Marcus, She's, Funke, JB Lacroix, Kushner, Kanye, Alice Marie Johnson, Jared Kushner, Kardashian's, Jared Organizations: Ivanka Trump, Service, Amazon, Trump Organization, House, Trump, Donald Trump White House Locations: Funke, Beverly Hills , California, Manhattan, Washington, New York, Los Angeles , California, Beverly Hills, West

☆ Big Banks Are Making Huge Profits Off Today’s Savings Rates—Are You?
▼ + stars: | 2023-10-23 | by ( Mallika Mitra | ) www.wsj.com time to read: +6 min

That’s because many big banks have been playing a ‘do as I say, not as I do’ game with customers. Many large bricks-and-mortar banks pay even less—Wells Fargo, for example, pays 0.15% on its standard savings account while JP Morgan Chase pays 0.01%. Evergreen Bank—a locally-owned bank serving the Chicago suburbs—is currently offering a 5.25% APY on savings accounts, one of the best savings account rates for October. Compare that to what big banks offer and you can see the appeal of looking for alternatives to the big banks. For some of the current best interest rate deals, check out our list of the best savings accounts and CD rates.

Persons: Mallika Mitra, they’ve, ”, Mayra Rodriguez Valladares, Morgan Chase, Adam Stockton, you’ve, Susan Mitcheltree, ” Mitcheltree, Andrew Herzog, Herzog, Banks Organizations: Federal Reserve, JPMorgan Chase, MRV Associates, Wells Fargo, Evergreen Bank, Valley Bank, Signature Bank, First Locations: U.S, Wells Fargo, New York, Stockton, “, Baltimore, Plano , Texas, Chicago, —

☆ How to Invest in Mutual Funds
▼ + stars: | 2023-10-11 | by ( Mallika Mitra | ) www.wsj.com time to read: +20 min

Mutual funds are relatively cheap and simple to invest in, thanks to the many trading apps and online brokerages available nowadays. To get started, read on for our 10-step guide on how to invest in mutual funds. Once you open an account, you can invest in a wide range of securities, like stocks, bonds and mutual funds. Buy mutual fund sharesNow that you’ve solidified your strategy and done your research, you are almost ready to buy mutual funds. How to buy mutual fund sharesSome mutual funds require an investment minimum, often between $500 and $3,000, but not all do.

Persons: Mallika Mitra, Tricia Rosen, ”, Rosen, “, Ameritrade, Roth, Roth IRAs, Uncle Sam, you’ve, Randy Bruns, it’s, Morningstar, Russell, hasn’t, Amy Arnott, John Bogle, Morningstar’s Arnott, pitfall Arnott, You’ll, you’ll, Don’t, Sam, haven’t Organizations: Mutual, Fidelity, Vanguard, Morningstar, SEC, Apple, Fidelity Investments Fidelity, Target, Walmart, Funds, Capital Group, Capital Group’s, The Securities, Exchange Commission, Social, Consumer, Morgan, Capital Locations: Andover, Mass, Naperville , Illinois, U.S

Now that I'm stepping away from an employer-sponsored retirement plan, I need to save for my future on my own. Anjali Jariwala, the founder of financial planning firm FIT Advisors, says the most important aspect of planning contributions is setting good financial habits. Consider an IRANow that I'll be saving for retirement without the help of my employer, I'll want to consider an IRA. Consider a solo 401(k)I can also consider a solo 401(k), which provides similar benefits to an employer 401(k). And you can open up multiple retirement accounts, but keep track of your contributions and limits.

Persons: I've, it's, —, Anna Sergunina, Sergunina, Anjali Jariwala, Jariwala, Roth, Tricia Rosen, Robinhood, Rosen, Wealthfront, Read Organizations: Roth IRA

☆ Yen intervention a hard sell even as 150 to the dollar 'red line' beckons
▼ + stars: | 2023-09-29 | by ( Kevin Buckland | ) www.reuters.com time to read: +6 min

But, Japanese authorities could find propping up their currency both difficult to achieve and hard to justify. To make even a ripple in the $5 trillion currency market, the BOJ would need to draw down massive amounts of dollar reserves. Wakabayashi, like many other analysts and investors, considers the 150 yen per dollar level a red line for currency intervention, not least because of its significance as a symbol of climbing costs of living from imported food and fuel. INTERVENTION IMMINENTThe yen careened to a 32-year trough at 151.94 last October before being reined in by several bouts of heavy intervention, the first by Japanese authorities in a generation. Measures of expected market volatility remain subdued.

Persons: Kim Kyung, Bank of Japan's hesitancy, Kazuo Ueda, You've, they're, Bart Wakabayashi, Fumio Kishida, Shunichi Suzuki, Masayuki Kichikawa, Ray Attrill, Janet Yellen, Aninda Mitra, Mitra, Kevin Buckland, Alun John, Vidya Ranganathan, Simon Cameron, Moore Organizations: National Printing Bureau, Bank of Japan, REUTERS, Rights, Bank of Japan's, U.S . Federal Reserve, U.S, Treasury, Fed, State Street Bank, Trust, Finance, Sumitomo Mitsui DS Asset Management, Ministry of Finance, National Australia Bank, BNY Mellon Investment Management, Thomson Locations: Tokyo, Japan, U.S, Washington, Asia, London

☆ In Peru, a Fossil-Rich Desert Faces Unruly Development
▼ + stars: | 2023-09-26 | by ( Mitra Taj | Marco Garro | ) www.nytimes.com time to read: +1 min

Millions of years ago, this desert in Peru was a gathering place for fantastical sea creatures: whales that walked, dolphins with walrus faces, sharks with teeth as large as a human face, red-feathered penguins, aquatic sloths. They reproduced in the gentle waters of a shallow lagoon buffered by hills that still wrap across the landscape today. Eventually, tectonic shifts lifted the land from the sea. Discoveries from the region have come at a brisk pace in recent decades, with at least 55 new species of marine vertebrates found so far. In August, paleontologists unveiled what may be the region’s most remarkable find yet: Perucetus colossus, a manatee-like whale now considered the heaviest animal known to have existed.

Locations: Peru, Pisco

☆ The tech IPO market is back and deal valuations are rising. Don't get fooled again
▼ + stars: | 2023-09-18 | by ( Mallika Mitra | ) www.cnbc.com time to read: +2 min

As tech startups test the IPO market again, they are pushing up their valuations. In upping IPO ranges, tech stocks are still coming out humbled by the post-2021 IPO market slump. Instacart and Klaviyo are both expected to make their debuts on the public market as soon as this week. Arm's jump of nearly 25% during its first trading day Thursday marked the end of a quiet two years for tech IPOs. "This has been the slowest IPO market in over a decade and we seem to be finally coming out of that."

Persons: Matt Kennedy, Ray Wang, Wang Organizations: Renaissance Capital, Constellation Research Locations: Silicon

☆ UK's Direct Line appoints CEO after tough 2022
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

LONDON, Aug 30 (Reuters) - British motor and home insurer Direct Line Insurance Group (DLGD.L) on Wednesday named Adam Winslow, a senior executive at Aviva (AV.L), as its CEO, seeking to reset after profits fell by 95% in 2022. Winslow, who is currently CEO of UK & Ireland general insurance at FTSE 100-listed Aviva, will join Direct Line in the first quarter of 2024. His appointment comes after Penny James, Direct Line's CEO for nearly four years, stepped down in January and Chief Commercial Officer Jon Greenwood was appointed acting CEO. Direct Line reported in March that its operating profit dropped 95% in 2022 after inflation drove up the cost of motor repairs and it warned that 2023 would be impacted by higher than previously expected claims inflation. Direct Line reports first-half 2023 results on Sept. 7.

Persons: Adam Winslow, Winslow, Penny James, Jon Greenwood, Sinchita Mitra, Eva Mathews, Huw Jones, Varun Organizations: Line Insurance, Aviva, UK & Ireland, Direct, Thomson Locations: British, Bengaluru, London

☆ General Motors is investing in a startup working on better and cheaper EV batteries
▼ + stars: | 2023-08-16 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Future low-cost GM EVs could benefit from the batteries being developed by Mitra Chem. General Motors said on Wednesday it's leading a $60 million financing round in Mitra Chem, a California-based startup working to develop lower-cost batteries for electric vehicles. Mitra Chem, founded by veterans of Tesla and Toyota , is working to develop new types of batteries based on lithium iron phosphate chemistry. Tesla, Rivian and Ford Motor are among the automakers using LFP cells in their more affordable models. Golan said that if Mitra Chem is successful, its batteries could appear in GM's vehicles later in this decade.

Persons: Bolt, Tesla, Mitra Chem, General Motors, Chem, Mitra, Vivas Kumar, Gil Golan, Golan, Mitra Chem weren't Organizations: Ford, EVs, General, Toyota, Ford Motor, Mitra Locations: Orion Township , Michigan, Mitra, California

☆ Yen treads on intervention zone; kiwi, Aussie dlrs hit by China woes
▼ + stars: | 2023-08-16 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. The Aussie bottomed at $0.6440, while the kiwi slid to a low of $0.5939, ahead of a rate decision by the Reserve Bank of New Zealand later on Wednesday. "But where we are at the moment, I think the jawboning will continue but I'm not convinced that we'll see intervention." The greenback predictably rode Treasury yields higher, with the dollar index ekeing out a slight gain to 103.22. The euro was little changed at $1.0902, while sterling dipped 0.05% to $1.2696, ahead of UK inflation data due later on Wednesday.

Persons: Florence Lo, Aninda Mitra, Shunichi Suzuki, Ray Attrill, I'm, Rae Wee, Shri Navaratnam Organizations: REUTERS, Rights, New, Reserve Bank of New, People's Bank of, BNY Mellon Investment Management, Finance, National Australia Bank, Federal Reserve, Treasury, Thomson Locations: Asia, Beijing, China, New Zealand, Reserve Bank of New Zealand, People's Bank of China, Japan

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