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☆ U.S. automakers like GM are rapidly losing ground in China, once an engine for growth
▼ + stars: | 2024-05-06 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

China was once a profit engine for GM, and its top sales market from 2010 to 2023. GM revealed several vehicles last week in China, including plug-in hybrid versions of its Buick GL8 minivan, a best-seller in China, and the Chevrolet Equinox crossover. "We think clearly that market has shifted and the landscape has shifted … with the capability of the Chinese [automakers]," Barra said. But it has had to aggressively cut prices to compete against Chinese automakers such ay BYD, Nio and others. Stellantis CEO Carlos Tavares earlier this year called Chinese automakers his company's "No.

Persons: Mary Barra, Jeff Kowalsky, we're, Barra, Paul Jacobson, GM wasn't, John Murphy, Michael Dunne, Dunne, Mark Fulthorpe, They'll, they've, Tesla, lockdowns, Elon Musk, Tingshu Wang, Reuters Tesla, Morgan Stanley, Adam Jonas, Musk, Junheng Li, Stellantis, Carlos Tavares, Zhu Jiangming, We've, We're, Ford, John Lawler, Lawler Organizations: General Motors Co, Bloomberg, Getty, General, GM, U.S, Chevrolet, SAIC, GM Pan, Asia Automotive Technology Center, Nurphoto, PSA Groupe, Chrysler, EVs, GM's, Buick, Wuling Motors, Motors, Bank of America Securities, China, Hummer, Durant Guild, America's, Detroit, P Global Mobility, Ford Motor, Tesla, Reuters, EV, Baidu, Warren Capital, Ford, Guangzhou Automobile Group, India & Asia, Lincoln, Lincoln Nautilus Locations: Detroit , Michigan, China, Barra, Beijing, Asia, Shanghai, Russia, India, Thailand, Australia, North America, South Korea, Brazil, Europe, GM's U.S, Qingdao, East China's Shandong, Indonesia, U.S, Nio, Greater China, South America

☆ Eurovision braces for its most tense contest yet, as protesters and artists bristle at Israel’s presence
▼ + stars: | 2024-05-06 | by ( Rob Picheta | ) edition.cnn.com time to read: +10 min

The competition – which tries desperately to retain its “apolitical” tag – has become the largest cultural event so far to be rocked by the repercussions of Israel’s war in Gaza. Those protesting or boycotting the song contest claim it is “artwashing” the conflict; others defend Israel’s inclusion, insisting the contest should not be dragged into geopolitics. It doesn’t make sense,” Bambie Thug, Ireland’s participant, told CNN of extensive rules restricting any form of pro-Palestinian statement during the event. Ireland's Bambie Thug told CNN they disagreed with Israel's involvement in the competition. Long-standing rules preventing flags of non-competing countries and territories mean that Palestinian flags are banned from the crowd, which Bambie Thug told CNN they “100%” disagreed with.

Persons: ” Paul Jordan, ”, Weeks, Eden Golan, ” Jordan, “, Carlos Garcia Rawlins, Bambie Thug, Patricia J, Garcinuno, Noel Curran, KAN, ” Curran, Golan, Fredrik Persson, –, SuRie, Karin Karlsson, Karlsson, ” Elina Pahnke, Johan Nilsson, Saturday’s, Mohammad Ghannam, ” Lara Yosef, ” Yosef, ” Bambie Thug, Alyona Alyona Organizations: CNN, Music, Malmo, Eurovision, European Broadcasting Union, EBU, TT, Agency, AFP, Getty, Malmo Arena, Artists, Aftonbladet, Israel’s National Security Council Locations: Swedish, Gaza, Israel, Malmo, Azerbaijan, Russia, Ukraine, Stockholm, Sweden's, seeping, Sweden’s Palestinian, Denmark, Norway, Sweden, “

☆ The Fed will have room to cut rates, Invesco says
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will have room to cut rates, Invesco saysPaul Jackson, global head of asset allocation research at Invesco, says "the underlying, background inflation fundamentals are still suggesting a decline in core inflation."

Persons: Invesco, Paul Jackson

☆ Fisker's woes are another reason to consider leasing an EV over buying
▼ + stars: | 2024-05-01 | by ( Graham Rapier | ) www.businessinsider.com time to read: +4 min

There are several reasons to consider leasing an EV over buying. To be sure, the vast majority of EV owners don't have to worry about the maker of their vehicles imminently going out of business. AdvertisementUsed EV prices are a huge question markThere's limited data on EV resale prices. Pre-owned EV prices have fallen in line with new EV prices. EV leasing is growing in popularityLeasing an EV is no longer a niche concept.

Persons: —, Fisker, Cox, Polestar, Paul Jacobson Organizations: Service, EV, Leasing, International Energy Agency, American, Tesla, Cox Automotive, Electrek, Lease

☆ GM CFO Paul Jacobson on Q1 results: Excited about the momentum we continue to carry
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGM CFO Paul Jacobson on Q1 results: Excited about the momentum we continue to carryCNBC’s Phil LeBeau and General Motors CFO Paul Jacobson join 'Squawk Box' to break down the company's quarterly earnings results, EV sales growth, state of the consumer, China market outlook, and more.

Persons: Paul Jacobson, Phil LeBeau Organizations: General Motors Locations: China

☆ G.M. Reports Big Jump in Profit on Gasoline Car Sales
▼ + stars: | 2024-04-23 | by ( Neal E. Boudette | More About Neal E. Boudette | ) www.nytimes.com time to read: +1 min

General Motors on Tuesday reported a big jump in profits for the first three months of the year, based on the strength of its gasoline vehicle business, and raised its outlook for the rest of the year. The company saw slow growth in electric vehicles, but robust sales of internal combustion vehicles, especially pickup trucks, helped raise its profit to $3 billion in the first quarter, a 24 percent jump from the same period a year ago. also said that it now expects to make $10.1 billion to $11.5 billion in profit this year, up from a previous forecast of $9.8 billion to $11.2 billion. business and improving profitability,” G.M.’s chief financial officer, Paul Jacobson, said in a conference call with reporters, using the shorthand for internal combustion engine. He repeated an earlier forecast that G.M.’s battery-powered cars and trucks would start generating profits in the second half of this year.

Persons: ’, Paul Jacobson, Jacobson, G.M Organizations: Motors

☆ As cocoa prices soar this Easter, chocolatiers consider alternatives
▼ + stars: | 2024-03-28 | by ( John Towfighi | ) edition.cnn.com time to read: +7 min

CNN —Cocoa prices are surging so high, the Easter Bunny might want to hoard its chocolate. Poor climate and crop diseases in West Africa – home to 70% of global cocoa production – have tightened supply and caused prices to skyrocket. As prices rise, some chocolatiers are exploring cost-cutting alternatives, like diversifying their products to depend less on cocoa. Yet mining often destroys farms and the possibility of a livelihood in cocoa production, Issaka said. “Given the persistently high cocoa prices, it may be necessary for us to make responsible adjustments to pricing in the future,” the spokesperson wrote in an email.

Persons: Hershey’s, Shaquille O’Neal, Michele Buck, Billy Roberts, Roberts, ” Roberts, Issaka, Will Kletter, Kletter, “, Peng Xu, Christopher Taylor, Li, Taylor, ”, “ We’re, “ It’s, ” Taylor Organizations: CNN, Cadbury, NCA, “ Brands, Industries, International Cocoa Organization, Rabobank, US, ”, Euromonitor Locations: West Africa, North Region, Ghana, Ivory Coast, Silicon, Washington ,, Manhattan

☆ CNBC Daily Open: U.S. consumers' optimism wanes
▼ + stars: | 2024-03-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit. The cocoa futures contract for May delivery rose to an all-time intraday high of $10,080 per metric ton Tuesday. [PRO] ETFs that stand outGiven the market volatility, investors are looking to exchange-traded funds to position their portfolios.

Persons: Dow, Francis Scott Key, Richard Meade, Paul, Tim Cook, Vahan Janjigian Organizations: CNBC, Street, U.S, Nasdaq, Rabobank, Apple, Greenwich Wealth Management Locations: Port of Baltimore, U.S, Baltimore

☆ CNBC Daily Open: Baltimore port shutdown a major disruption
▼ + stars: | 2024-03-27 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. India is one of the biggest markets for gold, which plays a key role in its culture. Scramble over port shutdownLogistics firms are left scrambling after the closure of the Port of Baltimore, one of the busiest ports in the U.S. Cocoa prices soarCocoa prices are surging and this could impact consumers as the world struggles with a supply deficit.

Persons: Yen tumbles, Dow, BlackRock's Larry Fink, Francis Scott Key, Richard Meade, Paul, Vahan Janjigian Organizations: CNBC, Nikkei, CSI, Nasdaq, Rabobank, Greenwich Wealth Management Locations: Seng, Blackrock, India, Port of Baltimore, U.S, Baltimore

☆ General Motors CFO Paul Jacobson on EV production, sales outlook and China competition
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGeneral Motors CFO Paul Jacobson on EV production, sales outlook and China competitionCNBC’s Phil LeBeau and General Motors CFO Paul Jacobson join 'Squawk Box' to discuss the company's EV production, rising incentives, EV sales outlook, competition from Chinese automakers, and more.

Persons: Paul Jacobson, Phil LeBeau Organizations: General, General Motors Locations: China

☆ What we know about the Baltimore bridge collapse
▼ + stars: | 2024-03-26 | by ( Holly Yan | ) edition.cnn.com time to read: +5 min

CNN —A massive cargo ship plowed into Baltimore’s Francis Scott Key Bridge early Tuesday, causing the 1.6-mile bridge to crumble like a pile of toothpicks and plunge cars and people into the frigid water below. Here’s what we know about the catastrophe:Why did the bridge collapse? The Patapsco River is about 50 feet deep under the Francis Scott Key Bridge, Wiedefeld said. The water temperature in Baltimore Harbor near the site of the bridge collapse was about 46 to 48 degrees Fahrenheit on Tuesday morning. The Francis Scott Key Bridge lies in shambles after a massive cargo ship crashed into one of its pillars overnight in Baltimore.

Persons: Francis Scott Key, DALI, Dali, Wes Moore, it’s, Paul J, Wiedefeld, “, ” Wiedefeld, James Wallace, ”, It’s, Andrew McCabe, ” McCabe, McCabe, we’ve, Akbarzai, Andy Rose, Derek van Dam, Monica Garrett, AnneClaire Stapleton, Louis Mian Organizations: CNN, Francis Scott Key Bridge, Maritime, Port Authority, Synergy Marine, Ltd, Maryland Gov, Maryland Transportation, Baltimore City Fire, Sonar, Synergy Group, National Weather Service, Reuters, University of Minnesota, FBI Locations: Singapore, Maryland, Patapsco, Baltimore, “, Baltimore Harbor, Harford County

☆ Cocoa prices are soaring to record levels. What it means for consumers and why 'the worst is still yet to come'
▼ + stars: | 2024-03-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

A farmers holds cocoa beans while he is drying them at a village in Sinfra, Ivory Coast, on April 29, 2023. Consumers could start to see the effect of surging cocoa prices as the world faces the worst supply deficit in decades, with farmers in West Africa struggling against bad weather, disease and failing trees. The world is facing the largest cocoa supply deficit in more than 60 years and consumers could start to see the effect at the end of this year or early 2025, Joules said. The International Cocoa Organization has forecast a supply deficit of 374,000 tons for the 2023-24 season, a 405% increase from a deficit of 74,000 tons in the previous season. Cocoa prices will likely remain elevated for some time because there are no easy fixes to the systemic issues facing the market, he said.

Persons: Michele Buck, Paul Organizations: Hershey, CNBC, National Confectioners Association, Rabobank, International Cocoa Organization Locations: Sinfra, Ivory Coast, West Africa, Cocoa

☆ Robinhood partners with Klutch Sports, brings Rich Paul on as advisor as it moves into sports and entertainment
▼ + stars: | 2024-03-07 | by ( Jessica Golden | ) www.cnbc.com time to read: +3 min

Rich Paul attends a basketball game between the National Basketball Association's Los Angeles Lakers and the Boston Celtics at Staples Center in Los Angeles on Feb. 23, 2020. He will work closely with Robinhood CEO Vlad Tenev to identify new partnership opportunities in the sports and entrepreneurship space. Paul, who founded Klutch in 2012, represents some of the biggest names in sports, including James. "When you think about what Robinhood represents, it represents access and entrepreneurship." Correction: Rich Paul is joining Robinhood as a strategic advisor.

Persons: Rich Paul, Robinhood, LeBron James, Rich Paul's, Paul, Vlad Tenev, Tenev, Rich, James, Klutch, Draymond, Trae Young, A'ja Wilson —, Klutch —, Ben Baller, brokerages Organizations: National Basketball, Los Angeles Lakers, Boston Celtics, Staples Center, Klutch Sport Group, CNBC, Klutch Sports, Klutch, United Talent Agency, Washington Wizards, Washington D.C, NBA, Robinhood, CNBC PRO Locations: Los Angeles, Robinhood, Washington, Metro, Akron

☆ Chocolate is getting more and more expensive — but it's not yet showing signs of destroying demand
▼ + stars: | 2024-03-07 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Workers collect dry cocoa beans in front of the store of a cocoa cooperative in the village of Hermankono on Nov. 14, 2023. Analysts believe the cost of the core chocolate ingredient may have room to extend its record-breaking run, with no sign of significant demand destruction yet on the horizon. Concerns over the supply of cocoa in West Africa, home to around three quarters of the world's production, have driven the market higher in recent months. In New York, benchmark ICE cocoa futures stood at $6,549 per metric ton on Wednesday. Somewhat surprisingly, the historic price surge has not yet hampered global demand.

Persons: Paul, CNBC's Organizations: Analysts, Rabobank Locations: Hermankono, West Africa, New York

☆ Dubai jet suit race: Real-life ‘superheroes’ take to the sky in inaugural event
▼ + stars: | 2024-03-01 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +7 min

Against a backdrop of skyscrapers and super yachts, the airborne athletes competed in the inaugural Jet Suit Race Series, an event organized by the Dubai Sports Council and Gravity Industries, the manufacturers of the jet suit. Browning compares the 1,700-horsepower jet suit to “the power of a Bugatti Veyron” sports car in a 30-kilogram (66-pound) backpack. The jet suit uses aviation fuel or diesel, and can go at speeds of up to 136 kilometers per hour (85 miles per hour), Browning’s own record. In 2020, there was a fatal jetpack accident in Dubai, though it was not a Gravity suit.) Test pilots take off in Gravity Industries jet suits ahead of the inaugural race, in Dubai in February 2024.

Persons: Superlatives ”, ”, Richard Browning, “, Browning, Toby Patterson ‘, Browning’s, Toby Patterson “, Issa Kalfon, Paul Jones, Freddie Hay, Kaflon, Ahmed Al Shehhi, Al Shehhi, he’s, it’s Organizations: CNN, Dubai Sports Council, Gravity Industries, CAA, FAA, Royal Marines, Great North Air Ambulance Service, Industries, British Royal Navy, Commando Royal Marines, JetPack Aviation Locations: Dubai, “ City, Superlatives, UAE, Lake District, California

☆ The odds of no interest-rate cuts in 2024 are growing
▼ + stars: | 2024-02-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today’s big story, we’re looking at the chances of there being no rate cuts this year, and how the markets would react. What's on deck:This story is available exclusively to Business Insider subscribers. The big storyCuts are canceledAaron Schwartz/Xinhua via Getty ImagesDon't count your chickens before they hatch and don't price in your rate cuts before they materialize. Last December, Fed Chair Jerome Powell signaled that three cuts were on the table for 2024, which he reiterated earlier this month. AdvertisementBonds could struggle, though, with further delays on rate cuts raising the risk that debt markets suffer another meltdown like they did last fall.

Persons: —, Mark Zuckerberg, Aaron Schwartz, ”, won’t, Jerome Powell, Phil Rosen, There's, BI’s Yuheng Zhan, NYCB’s, Ark's Cathie Wood, Paul Judge, Tessa Flippin, Claude Grunitzky, Gayle Jennings O'Byrne, Black VCs, Masayoshi Son, OpenAI’s, Jenny Chang, Rodriguez, Vladimir Putin, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, UFC, Business, Xinhua, Getty, Federal, Paramount, Fed, Big Tech, JPMorgan Private Bank, Discover, Discover Financial, Nvidia, Opportunity, Equity Alliance, Wocstar Fund, Opportunity Fund, Equity Alliance Wocstar, Google, Walmart, Pandora, Home Locations: Japan, Ukraine, Moscow, Russia, Fox, New York, London, Chicago

HOUSTON (AP) — A motive for why a woman in a trenchcoat opened fire in celebrity pastor Joel Osteen's megachurch in Texas remained unclear Monday after the shooting sent worshippers rushing for safety in between busy Sunday services. Police say two off-duty officers working security at Osteen's church, one of the largest megachurches in the U.S., shot and killed the suspect. Osteen said the violence could have been worse if the shooting had happened during the earlier and larger late Sunday morning service. Houston Police Chief Troy Finner did not identify the suspect at a news conference Sunday while standing near Osteen. The woman began shooting and was confronted by two off-duty officers, a Houston police officer and an agent with the Texas Alcoholic Beverage Commission, who returned fire.

Persons: Joel Osteen's megachurch, Osteen, Troy Finner, Finner, Alan Guity, “, ’ ”, Guity, JOEL OSTEEN, John Osteen, Joel Osteen, God, Hurricane Harvey, Paul J, Weber Organizations: HOUSTON, Police, Houston Rockets, . Houston Police, Houston, Texas Alcoholic Beverage Commission, WHO, Authorities, Lakewood Church, Hartford Institute for Religion Research, Associated Press Locations: Texas, U.S, Osteen, Houston, Honduras, Lakewood

☆ Market impact of the Red Sea crisis has been 'surprisingly limited,' analyst says
▼ + stars: | 2024-02-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarket impact of the Red Sea crisis has been 'surprisingly limited,' analyst saysPaul Jackson, head of asset allocation research at Invesco, says "I'm amazed that the oil price hasn't gone higher than it has."

Persons: Paul Jackson, I'm

☆ Marcelo Claure and Paul Judge bought SoftBank's diversity fund. Now they're trying to raise $200 million for it.
▼ + stars: | 2024-02-01 | by ( Vishal Persaud | ) www.businessinsider.com time to read: +6 min

Read previewFormer SoftBank executive Marcelo Claure and serial entrepreneur and investor Paul Judge are in the throes of raising a new $200 million fund. The past year has been transitional for the fund since Claure and Judge bought the $100 million fund from SoftBank. Since then, there haven't been any new investments, but the two are poised to capitalize on the success of the first fund and are raising the second Open Opportunity Fund. He said that limited partners' interest has been positive overall since the Open Opportunity Fund's first fund has had so much success. AdvertisementJudge said that he expects the first Open Opportunity Fund to continue to deliver "top quartile" returns to its investors over the next five to seven years.

Persons: —, Marcelo Claure, Paul Judge, It's, Claure, haven't, SoftBank —, I've, Judge, George Floyd's, Masayoshi, Shu Nyatta, Stacy Brown, what's Organizations: Service, Business, Opportunity Fund, Opportunity, Fund, Mastercard, Vista Equity Partners, Ventures, Sprint, Bicycle Capital, TechCrunch Locations: SoftBank, Atlanta, America

And the company predicts a small improvement this year even as it plans for lower vehicle selling prices due to increased discounts. Cost cutting by simplifying engineering and manufacturing saved GM about $1 billion last year, Jacobson said, with another $1 billion expected this year. The company expects EV losses to ease this year and hit low-to-mid single digit profit margins in 2025 as it adds more EVs to its lineup. It also took a $1.7 billion accounting charge on the valuation of its electric vehicle inventory that is going to bring losses, Jacobson said. This year, the company expects $1.3 billion in higher labor costs and is prepared for about a $3 billion hit due to lower prices, Jacobson said.

Persons: Paul Jacobson, “ It's, ” Jacobson, Jacobson Organizations: DETROIT, —, Motors, Detroit, North, United Auto Workers, GM, UAW, Chevrolet Bolt, Cruise, Revenue Locations: North American

BROWNSVILLE, Texas (AP) — After Texas fenced off a park along the U.S.-Mexico border and began turning away Border Patrol agents, Republican Gov. He relayed frustration over migrants illegally entering the U.S. through the border city of Eagle Pass and federal agents loading them onto buses. The weekend deaths once again escalated tensions between Texas and the Biden administration. Border Patrol must have access to the border to enforce our laws,” White House spokesman Angelo Fernández Hernández said in a statement Sunday. “However, the bottom line is that Border Patrol was barred from entering Shelby Park,” Cuellar said in a statement.

Persons: Greg Abbott, ” Abbott, ‘ We’ve, We’re, ’ ” Abbott, “, Biden, ”, Angelo Fernández Hernández, Abbott, Henry Cuellar, ” Cuellar, Rolando Salinas, Melissa R, Cigarroa, ___ Stengle, Paul J, Weber, Mark Stevenson Organizations: —, Border Patrol, Republican Gov, U.S . Department of Homeland Security, Border, Texas Military Department, Lone Star, Migrants, Rio Grande . U.S . Rep, Democrat, ”, ” Texas Military Department, of Public Safety, Eagle Pass, Justice Department, U.S, Supreme, Shelby, Democratic, Wall Coalition, National Guard, Associated Press Locations: BROWNSVILLE , Texas, — After Texas, U.S, Mexico, Houston, Eagle, Texas, Rio Grande, Shelby, Rio Grande . U.S, ” Texas, . Texas, Laredo, Dallas, Austin, Mexico City

☆ Harvard board accepts Claudine Gay's resignation 'with sorrow.' It says she was subjected to 'deeply personal attacks.'
▼ + stars: | 2024-01-02 | by ( Clementine Fletcher | ) www.businessinsider.com time to read: +5 min

While the Harvard Corporation and faculty members backed Gay, the pressure continued. First and foremost, we thank President Gay for her deep and unwavering commitment to Harvard and to the pursuit of academic excellence. She believes passionately in Harvard's mission of education and research, and she cares profoundly about the people whose talents, ideas, and energy drive Harvard. An economist and a physician, he is a distinguished and wide-ranging scholar with appointments at Harvard Medical School, Harvard's Faculty of Arts and Sciences, the Harvard Kennedy School of Government, and the Harvard T.H. While President Gay has acknowledged missteps and has taken responsibility for them, it is also true that she has shown remarkable resilience in the face of deeply personal and sustained attacks.

Persons: Gay, Claudine Gay's, Alan M, Garber, –, missteps, Provost Garber, of Harvard College Penny Pritzker, Timothy R, Barakett, Kenneth I, Chenault Mariano, Florentino, Tino, Cuéllar Paul J, Finnegan Biddy Martin Karen Gordon Mills Diana L, Nelson Tracy P, Palandjian Shirley M, Tilghman Theodore V, Wells, Jr Organizations: Harvard Corporation, Harvard Community, Harvard, Social Science, of Arts and Sciences –, FAS, Harvard Medical School, Harvard's, of Arts and Sciences, Harvard Kennedy School of Government, of Public Health, of Harvard College Locations: MIT's, Chan

☆ KISS says their future concerts will be performed by 'forever young' digital avatars
▼ + stars: | 2023-12-04 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

KISS ended the last live show of their 50-year career by revealing their digital avatars. The digital avatars drew a mixed reception from fans online. But it wasn't an official curtain call, as the band announced their act would live on through "forever young" digital avatars. "We can be forever young and forever iconic by taking us to places we've never dreamed of before," said KISS bassist Gene Simmons, 74, in a separate announcement video published Saturday. The two companies were also behind ABBA's virtual concert, which put digital avatars of the band onstage in May 2022.

Persons: Per, —, we've, Gene Simmons, Paul, George Lucas, ABBA's Björn Ulvaeus, Khudwx7cud Organizations: KISS, Service, Madison, Industrial, Pophouse Entertainment, Associated Press, Twitter, Bloomberg Locations: New York

The two companies recently teamed up for the “ABBA Voyage” show in London, in which fans could attend a full concert by the Swedish band — as performed by their digital avatars. He says the band won't be on stage during the virtual performance because “that’s the key thing,” of the future-seeking technology. That’s what you could do with this.”Political Cartoons View All 1277 ImagesIn order to create their digital avatars, who are depicted as a kind of superhero version of the band, Kiss performed in motion capture suits. Aespa, the K-pop girl group, frequently perform alongside their digital avatars — the quartet is meant to be viewed as an octet with digital twins. The band deserves to live on because the band is bigger than we are,” Kiss frontman Paul Stanley said in roundtable interview.

Persons: Paul Stanley, Gene Simmons, Tommy Thayer, Eric Singer —, George Lucas ’, ABBA’s Björn Ulvaeus, —, “, Kiss, Mark Tuan, ”, Tuan, we’ve, Paul Organizations: New York, Kiss, Industrial, Pophouse Entertainment, Machines Locations: New, Madison, London, Swedish

☆ A Venezuelan vote on an oil-rich region of Guyana raises concerns of a South American military conflict
▼ + stars: | 2023-12-01 | by ( David Shortell | ) edition.cnn.com time to read: +9 min

The area in question, the densely forested Essequibo region, amounts to about two-thirds of Guyana’s national territory and is roughly the size of Florida. The recent discovery of vast offshore oil fields in the region has heightened the stakes of the dispute. Venezuelans in Caracas take part in a rally during the closing of the campaign for the Essequibo referendum, on December 1. It owns the congress of Guyana,” Maduro told supporters last week. Matias Delacroix/APOn Wednesday, Brazil announced that it was increasing its military presence with “defensive actions” along its northern border with Venezuela and Guyana.

Persons: Nicolas Maduro, Miguel Gutierrez, Shutterstock, Robert Persaud, Venezuela doesn’t, Matias Delacroix, ” Maduro, Maria Corina Machado, Maduro, ”, Phil Gunson, Irfaan Ali, Paul J, Angelo, Wazim Mowla, Adrienne Arsht, Vladmir Putin’s, Bharrat Jagdeo, “, ” Jagdeo, ” Gunson Organizations: CNN, Quarterly, Court of Justice, UN, International Court of Justice, ExxonMobil, AP, International Crisis, Venezuelan, Foreign Relations, Caribbean Initiative, Atlantic, America, Crisis Locations: Guyana, Essequibo, Florida, Venezuela, British, Venezuelan, Caracas, Ukraine, Guyanese, The Hague, Guyana's, Paris, Guiana, Georgetown, AP Venezuela, ”, Demerara, Brazil, Crimea, that’s

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