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☆ 2 Chinese EV companies seem to be ganging up on Elon Musk's Tesla
▼ + stars: | 2024-05-08 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

EV company Nio is launching a new affordable EV brand in China. The alliance between the two companies will likely intensify pressure on Tesla in China. BYD will reportedly provide a small battery pack for one version of the Onvo EV, with Chinese battery maker CALB supplying a larger 85-kilowatt-hour battery pack. AdvertisementThe alliance between Nio and BYD will likely intensify pressure on Elon Musk in China, where Tesla sales have slumped amid brutal competition for EVs. Once again, however, he is likely to face stiff competition from BYD and Nio, who are developing their own driving assistance software.

Persons: —, Elon, BYD, confirmeded, Nio, didn't, Musk Organizations: Nio, Service, Tesla's, Elon Musk, Reuters, Business, EV, Elon, EVs, China's Passenger Car Association, Bloomberg, Baidu Locations: China, Europe, Nio, Tesla's Shanghai, Beijing, BYD

☆ OpenAI is reportedly trying to poach Googlers for an AI-powered search team
▼ + stars: | 2024-05-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Altman's company is trying to poach Googlers for a ChatGPT search engine, per the report. The Verge reported that the company behind ChatGPT has been trying to poach Googlers to work on its team developing a search engine for the chatbot. In February, The Information reported that OpenAI was developing a web search feature that could put the company into more direct competition with Google Search. AdvertisementGoogle's future plans in the AI field include large investments and a generative AI search engine. Big Tech is engaged in an intense battle for top AI talent as rival companies rush to launch similar AI-powered products.

Persons: Sam Altman's, —, OpenAI, ChatGPT, Googlers, Bing, Mark Zuckerberg Organizations: Big Tech, Service, Google, Bloomberg, Business

☆ 3 reasons why Wall Street is playing Roblox again
▼ + stars: | 2024-05-08 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +6 min

CNN —Many adults heard the phrase “Robux” for the first time last holiday season when the virtual currency of gaming platform Roblox landed on the top of most wish lists. And it will have to prove to Wall Street there’s more growth up ahead. In its fourth quarter of 2023, Roblox revenue was $750 million, up 30% year-over-year – but had a net loss of $323.7 million. Like Fortnite, Roblox is also moving ahead with a“payout to creators” business model. “It’s clear that [Roblox] intends to go after younger gamers in 2024 and 2025,” Ward said.

Persons: ”, Roblox, Matilda Beinat, Lindsey Nicholson, UCG, David Baszucki, Ralph Lauren, Mike Proulx, Forrester, “, ” Proulx, Michael Nagle, ” Beinat, Lewis Ward, ” Ward, Ward Organizations: CNN, Investors, ABI Research, “, Gaming Center, Costco, Brookhaven RP, Nike, Walmart, New York Stock Exchange, Bloomberg, Getty, Apple’s, IDC, Disney, Pixar, Marvel, Star Wars Locations: Asia, Roblox, New York, Fortnite

☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

The numbers behind a big fundOn Wall Street, one mystery has been whispered about for months: How accurate is the valuation of Blackstone’s flagship real estate fund? The speculation has arisen because the fund, the $59 billion Blackstone Real Estate Income Trust — more commonly known as BREIT — has managed to keep an “appraised” value of its assets that far exceeds virtually every other real estate fund. Many rivals have fallen in value, some quite dramatically, in the face of high interest rates and a flagging property market. BREIT’s performance has floated above its competition, and it has boasted a 10.5 percent annual return since its 2017 debut. (Those appraisals help to determine a firm’s management fees: The higher the appraisal value, the higher the fees.)

Persons: —, Blackstone, DealBook’s Andrew Ross Sorkin, Michael de la Organizations: Blackstone Real Locations: Michael de la Merced

☆ Nintendo says Switch successor will be unveiled by March 2025
▼ + stars: | 2024-05-07 | by ( Jerome Taylor | ) edition.cnn.com time to read: +2 min

Hong Kong CNN —Nintendo says it plans to announce the followup to its popular Switch console by March 2025. “We will make an announcement about the successor to Nintendo Switch within this fiscal year,” Shuntaro Furukawa, the company’s president, wrote on X on Tuesday. “It will have been over nine years since we announced the existence of Nintendo Switch back in March 2015.”The announcement will be welcome news to fans who have been salivating for years over the prospect of a potential Switch successor, which Nintendo bosses have remained tight lipped about. The company expects to sell 13.5 million Switch units in the current financial year, according to Reuters, compared to sales of 15.7 million units last year. There’s the Nintendo Switch OLED and its rich, immersive screen; the standard Nintendo Switch with its tried-and-true hybrid design; and the cheaper and smaller Nintendo Switch Lite for those who mainly play on the go.

Persons: “, ” Shuntaro Furukawa Organizations: Hong Kong CNN — Nintendo, Nintendo, Reuters, Sony, SONY, Microsoft Locations: Hong Kong

☆ Spanish startups hit Microsoft with complaint over cloud practices
▼ + stars: | 2024-05-07 | by ( ) www.cnbc.com time to read: +3 min

Microsoft was hit with a Spanish startup group's complaint about its cloud practices to the Spanish antitrust regulator on Tuesday, the latest grievance over its fast-growing cloud computing services and which followed a trade group's EU complaint. The Spanish Startup Association, which represents more than 700 startups in Spain, cited a number of allegedly anti-competitive practices by Microsoft in recent years. Microsoft defended its cloud practices. "Microsoft provides choice and flexibility for our customers to switch to another cloud provider at no cost, and our licensing terms enable our customers and other cloud providers to run and offer Microsoft software on every cloud," a spokesperson said. "We will engage with the Spanish Startup Association to learn more about its concerns."

Persons: Carlos Mateo Organizations: Microsoft, Mobile, Amazon, Spanish Startup Association, Operating Systems, Windows, Reuters, Cloud Infrastructure Services, European Commission, Competition, Markets Locations: Barcelona, Spain, Spanish, U.S, Europe

☆ Amgen, newer rivals could threaten Novo Nordisk and Eli Lilly's weight loss drug dominance
▼ + stars: | 2024-05-07 | by ( Scott Olson | Getty Images | ) www.cnbc.com time to read: +10 min

Amgen is among the leaders of a pack of drugmakers racing to join the market with their own weight loss treatments. Amgen's drug, MariTide, is taken less frequently than Novo Nordisk's Wegovy and Eli Lilly's Zepbound, and may cause longer-lasting weight loss than the market leaders' injections. Novo Nordisk and Eli Lilly are also working on new weight loss drugs. The competition for a slice of the weight loss market has only grown more fierce in recent months. An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City, U.S., December 11, 2023.

Persons: NOVO.B, Scott Olson, Eli Lilly, Nordisk's Wegovy, Eli Lilly's Zepbound, Amgen, William Blair, Matt Phipps, Bob Bradley, Boehringer Ingelheim, Phipps, Zepbound, Chris Schott, MariTide, Mario Tama, he's, Eli Lilly drugs, CagriSema, Eli Lilly’s, Brendan McDermid, Boehringer, Ingelheim, survodutide, Pascal Soriot, Christopher Furlong, dealmaking, David Denton Organizations: New, Halstead Pharmacy, Getty, Novo Nordisk, Nordisk's, William Blair & Company, CNBC, Therapeutics, AstraZeneca, Zealand Pharma, MariTide, Reuters, GLP, Pfizer, Eccogene Locations: Chicago , Illinois, Novo, Amgen, Thousand Oaks , California, New York City, U.S, Zealand, Macclesfield

☆ India’s economy and Modi, Ambani, Adani: The three men shaping the next economic superpower
▼ + stars: | 2024-05-07 | by ( Diksha Madhok | ) edition.cnn.com time to read: +13 min

Fellow billionaire Gautam Adani, founder of the Adani group, was also invited. Reliance Industries and the Adani Group are sprawling conglomerates worth over $200 billion each, with established businesses in sectors ranging from fossil fuels and clean energy to media and technology. As a result, these three men — Modi, Ambani and Adani — are playing a fundamental role in shaping the economic superpower India will become in the coming decades. Both Adani and Ambani have become key allies as the country embarks on this revolution. “India cannot grow rich before it becomes old on the back of a few big firms like Adani or Ambani,” he said.

Persons: Mukesh Ambani, Mark Zuckerberg, Bill Gates, Ivanka Trump, popstar Rihanna, David Blaine, Ambani, Gautam Adani, Jeff Bezos, ”, Rohit Lamba, Narendra Modi, — Modi, Adani, Noemi Cassanelli, ’, John D Rockefeller, Vanderbilt, James Crabtree, Modi, Guido Cozzi, Cozzi, Ambani’s, Dhirubhai, helms, Cantor Fitzgerald, Cantor, ’ Ambani, Amit Dave, Hindenburg’s, ferociously, ” Cantor, Modi’s, Prasanna Tantri, Crabtree, Lamba Organizations: New, New Delhi CNN —, Reliance Industries, Pennsylvania State University, Investors, Adani, CNN, Adani Realty, Frick, Astor, Carnegie, Samsung, Hyundai, World Bank . Coal, University of St, Adani Group, Reliance, Reliance Industry, Adani Enterprises, AEL “, Tata Group, Modi, India’s, Hindenburg, GQG Partners, Indian School of Business Locations: New Delhi, Gujarat, Davos, Coachella, Silicon Valley, India, China, Mumbai, Antilia, America, Asia, Britain, South Korea, Worth, United Kingdom, University of St Gallen, Switzerland, American

☆ 5 things to know before the stock market Monday, May 6
▼ + stars: | 2024-05-06 | by ( Michele Luhn | ) www.cnbc.com time to read: +3 min

Feeling optimisticStock futures were higher Monday after ending last week on a positive note in light of a weaker-than-expected jobs report. Last week, the Dow and Nasdaq rose 1.1% and 1.4%, respectively, while the S&P 500 added 0.5%. Buffett's back, all rightWarren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. During the meeting, Buffett also fielded questions from shareholders, opined on the future of artificial intelligence and praised Fed Chair Jerome Powell for his work steering the economy. Final verdictCombination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance.

Persons: Joseph Prezioso, Warren Buffett, Charlie Munger, Buffett, Greg Abel, Jerome Powell, Sam Bankman, Zhao Changpeng, Mike Segar, Benjamin Girette, Changpeng Zhao, Zhao, Justin Sullivan Organizations: Dow, Nasdaq, Traders, Federal Reserve, Disney, Anadolu Agency, Getty, Berkshire, CNBC, Oracle, Berkshire Hathaway's, Paramount, Reuters, Bloomberg Locations: Omaha , Nebraska, Omaha, San Rafael , California

☆ Dollar steady after soft U.S. jobs report; yen starts week on back foot
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. On Monday, the yen weakened 0.43% to 153.62 per dollar in early trading, having touched a three-week high of 151.86 on Friday, as the dollar lost additional ground after the jobs data. But with Japanese authorities choosing last week's quiet periods to intervene in the yen market, traders will be on high alert through the day. Markets are now pricing in 45 basis points of cuts this year, with a rate cut in November fully priced in.

Persons: Jerome Powell, Goldman Sachs Organizations: Federal Reserve, Bank of, Fed, Citi Locations: Japan, Britain, Bank of Japan, U.S

☆ Microsoft's in-house AI model, reportedly called MAI-1, is a chance for CEO Satya Nadella to prove he doesn't need OpenAI
▼ + stars: | 2024-05-06 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Microsoft is building its own AI model dubbed MAI-1, The Information reported. It's a sign Microsoft is ready to depend less on the ChatGPT maker as the AI wars heat up. AdvertisementMicrosoft is reportedly working on its own AI model separately from OpenAI — a chance for CEO Satya Nadella to prove his company doesn't need the ChatGPT maker to get ahead in the AI wars. Microsoft is working on building an in-house large language model model it calls MAI-1, The Information reported earlier this week. That's on top of the smaller, less advanced models Microsoft is developing for smartphone apps, reflecting the tech titan's multi-pronged approach to developing advanced AI.

Persons: Mustafa Suleyman, It's, —, Satya Nadella, Nadella, Google's DeepMind, Kevin Scott, Scott, it's, Microsoft didn't Organizations: Microsoft, Service, MAI, Meta, Business, Microsoft's Locations: ChatGPT, Seattle

☆ 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

☆ Apple just unveiled a $110 billion buyback plan. Here's why that doesn't make the stock a sure winner
▼ + stars: | 2024-05-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Shares of Apple surged 6% on Friday as investors cheered better-than-expected fiscal second-quarter results and the announcement of the biggest stock buyback program in U.S. corporate history. In theory, Apple's $110 billion stock buyback program should provide a boost to its share price. However, recent history shows that spending billions on share repurchases isn't guaranteed to make the stock a runaway winner. So they've been retiring these shares," Nathan said. AAPL YTD mountain Shares of Apple are still down year to date despite Friday's bounce.

Persons: Dan Nathan, they've, Nathan, hasn't, They've, Apple isn't Organizations: Apple, RiskReversal Advisors, CNBC, Big Tech, Nasdaq, Mobile

☆ Trump hush-money porn star trial: Here's what's happened so far
▼ + stars: | 2024-05-05 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

Former US President Donald Trump attends his trial for allegedly covering up hush money payments linked to extramarital affairs, at Manhattan Criminal Court in New York City, on May 2, 2024. The historic hush-money trial, which still has another three to five weeks to go, marks the first-ever criminal trial of an ex-U.S. president. Fined $9,000 for contempt of courtFormer US President Donald Trump sits in the courtroom at Manhattan criminal court in New York, US, on Friday, May 3, 2024. Prosecutors dig inRepublican presidential candidate and former U.S. President Donald Trump shouts during a campaign event in Freeland, Michigan, U.S. May 1, 2024. Pecker, who said that he purchased the story in order to bury it, said that Trump never reimbursed the company.

Persons: Donald Trump, Doug Mills, He's, he's, Juan Merchan, Trump, Merchan, Attorney Alvin Bragg, Joe Biden, —, doesn't, Trump's protestation, Chris Conroy, Brendan Mcdermid, Michael Cohen, Stormy Daniels, Daniels, David Pecker, Pecker, Donald Trump's, Timothy A, Clary, Cohen, Karen McDougal, Rhona Graff, McDougal, Gary Farro, Keith Davidson, Davidson, Hope Hicks, Alex Wong Organizations: Manhattan Criminal, Afp, Getty, Manhattan Supreme, Reuters, Attorney, Trump, Truth Social, Republican, National Enquirer, American Media, White House, Capitol Locations: New York City, Manhattan, Wisconsin, Michigan, New York, Waukesha , Wisconsin, Freeland , Michigan, U.S, Republic, Washington , DC

☆ How previous investing mistakes are shaping my thinking on the latest stock gone wrong
▼ + stars: | 2024-05-05 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Three times a day we would gather "off the desk," and I would have to defend every stock we owned. First, there's the obvious mistakes that we have made: Bausch Health and Foot Locker . To signify the changes, he renamed it Bausch Health in 2018, after the eye-care company Valeant bought for $8.7 billion five years earlier. We thought the IPO market would come back, and Bausch Health would win the lawsuit and all would be back on track. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Jeff Marks, Karen Cramer, Cramer, Karen, Max Palevsky, It's, Joseph Papa, Clint Eastwood, Papa, Jim Cramer, Valeant, Bausch, Locker, Mary Dillon, Dillon, Wall, Emerson, Cristiano Amon, Laxman Narasimhan, Howard Schultz, Narasimhan, Benckiser, Kevin Johnson, Schultz, Johnson, it's, —, Foot Locker, Jim Cramer's, Jim Organizations: Cramer &, Intel, Charitable Trust, Co, Starbucks, Bausch Health, Pharmaceuticals, Perrigo, Health, Norwich Pharmaceuticals, Former, Emerson Electric, Qualcomm, National, Eaton Corp, Broadcom, Palestine, PepsiCo, Nestle, Elliott Management, Emerson, CNBC, Getty Locations: China, —, Israel, U.S, BHC, FL, Jinan, East China's Shandong province

☆ Campaign Updates: At the R.N.C. donor retreat, Trump calls the Biden administration the ‘Gestapo.’
▼ + stars: | 2024-05-05 | by ( Maggie Haberman | Shane Goldmacher | ) www.nytimes.com time to read: +8 min

“You have to respect the office of the presidency,” Mr. Trump said. “When you are Democrat, you start off essentially at 40 percent because you have civil service, you have the unions and you have welfare,” Mr. Trump said on Saturday. director whom Mr. Trump fired amid an investigation into Mr. Trump and his campaign, was connected to the Blagojevich investigation. Mr. Trump also mocked the physical appearance of Jack Smith, the special counsel who has indicted him twice. At another point, Mr. Trump said that if anyone wanted to donate $1 million to the R.N.C.

Persons: Donald J, Trump, Biden’s, ” Mr, Trump baselessly, Biden, “, Mr, ”, William P, Barr, Michael Whatley, Mitt Romney, Hope Hicks, Rod Blagojevich, Blagojevich’s, James B, Blagojevich, Jack Smith, Smith, Mike Johnson, Roe, Wade, Trump’s, — Susie Wiles, Chris LaCivita, Tony Fabrizio — Organizations: Republican National Committee, The New York Times, Trump, Democratic, Mr, Sun Locations: New York, Florida, Palm Beach, Fla, Manhattan, Illinois, Minnesota, Virginia, Nevada , Arizona, Georgia, North Carolina, Pennsylvania, Michigan, Wisconsin

☆ 21-year-old joined the circus over going to college—and gets shot out of a cannon for work
▼ + stars: | 2024-05-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Skyler Miser credits her love for the circus to her parents Brian and Tina, who performed in earlier versions of the Ringling Circus in the early and mid-2000s. Skyler Miser's average work shift lasts about three seconds — a time during which she's shot out of a cannon in front of thousands of people. Miser was just 2 years old when she first performed in the circus, joining her parents on stage to introduce their act. Her father, Brian Miser, and her mother Tina Miser performed in earlier versions of the Ringling Circus in the early and mid-2000s, also as human cannonballs. During her act, Miser is propelled about 70 feet in the air at speeds of up to 65 miles an hour.

Persons: Skyler Miser, Brian, Tina, Skyler Miser's, she's, Abu, Formula, Miser, Brian Miser, Tina Miser, Benjamin Wallace, Ringling, Miser's, Bailey, hasn't Organizations: Ringling, Ringling Brothers, Barnum, CNBC, Circus, Peru Amateur, Air Force, Ringling Bros Locations: Peru , Indiana, Peru, Las Vegas, United States

☆ Gallows Humor and Talk of Escape: Trump’s Possible Return Rattles Capital
▼ + stars: | 2024-05-05 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

It has become the topic of the season at Washington dinner parties and receptions. It’s a gallows humor with a dark edge. Much of official Washington is bracing for the possibility that former President Donald J. Trump really could return — this time with “retribution” as his avowed mission, the discussion is where people might go into a sort of self-imposed exile. Whether they mean it or not, the buzz is a telling indicator of the grim mood among many in the nation’s capital these days. The “what if” goes beyond the normal prospect of a side unhappy about a lost election.

Persons: Biden, Donald J, Trump, ” Locations: Washington, Portugal, Australia, France, Poland

☆ These are the wildest EVs unveiled at China's biggest auto show
▼ + stars: | 2024-05-04 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewIf you need more evidence that China's EV market is booming, just look at the country's biggest car show. VCG/VCG via Getty ImagesBy far the biggest name in China's EV market is BYD, the Warren Buffett-backed firm that is probably giving Elon Musk sleepless nights. Xiaomi brings its Tesla rivalJADE GAO/Getty ImagesOne of the biggest draws of the auto show was the SU7, an electric SUV built by smartphone maker Xiaomi. JADE GAO/Getty ImagesThe number of companies trying to make it in China's EV market — at least 123, according to one auto consultant — has seen some firms branch out in unexpected directions.

Persons: —, PEDRO PARDO, Warren Buffett, Elon, BYD, Tesla, Xiaomi, JADE GAO, It's, Mercedes Organizations: Service, Volkswagen, Mercedes, Business, EV, Getty, China's EV, VW Locations: Beijing, China's, China

☆ The US could have to deal with both Russia and China if it ends up at war with one of them, top intelligence officials say
▼ + stars: | 2024-05-03 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

If the US goes to war with Russia or China, it could have to deal with both adversaries at once, US intel leaders warn. Russia and China have developed what they call a "no limits" partnership. The two also conducted a joint military exercise near Taiwan for the first time, per a US official. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn the event of a conflict with either Russia or China, US forces may find themselves dealing with both adversaries due to their "cooperative" partnership, according to recent warnings from top US intelligence officials.

Persons: —, Avril D, Haines, Jeffrey A, Kruse, " Kruse Organizations: intel, Service, Defense Intelligence Agency, Department of Defense, Pentagon Locations: Russia, China, Taiwan, relook, Ukraine

☆ Credit Agricole's first-quarter earnings jump as investment banking beats rivals
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

Credit Agricole , France's second-biggest listed bank, posted a forecast-beating 55% jump in first-quarter net profit on Friday, helped by corporate and investment banking sales that outperformed rivals. Net profit in the January to March period rose to 1.9 billion euros ($2.04 billion), above the 1.48 billion-euro average of 19 analyst estimates compiled by the company. Sales climbed 11% to 6.81 billion euros, topping analyst expectations of 6.47 billion euros. The cost of risk, or money put aside for bad loans, was 400 million euros, 105 million euros less than expected. Targets include annual underlying net income of more than 6 billion euros and a return on tangible equity of more than 12%.

Persons: Amundi Organizations: Credit Agricole, BNP Paribas, Societe Generale, Agricole Locations: France's, France

☆ NATO says Russia is carrying out 'malign activities' like sabotage on its member states and will address them
▼ + stars: | 2024-05-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +3 min

NATO is accusing Russia of "malign activities" in its member states, including Germany and the UK. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe North Atlantic Treaty Organization on Thursday singled out Russia in a statement condemning "recent malign activities" in its member states. The treaty organization said these individuals' actions were part of an "intensifying campaign of activities" carried out by Russia. Amid the heightened tensions, NATO members have increasingly highlighted what they say are Russian clandestine activities in their own governments and institutions.

Persons: —, Emmanuel Macron Organizations: NATO, North Atlantic Council, Service, Atlantic Treaty Organization, North Atlantic, Moscow, Russia's Ministry of Foreign Affairs, Business Locations: Russia, Germany, Czechia, Estonia, Latvia, Lithuania, Poland, Moscow, Ukraine, —, Kyiv, Russian, London, China

☆ Trump Media's auditor charged with 'massive fraud' by SEC
▼ + stars: | 2024-05-03 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +3 min

Trump Media's auditor, BF Borgers, committed fraud in 1,500 filings, the SEC said. "Trump Media looks forward to working with new auditing partners," a spokesperson said. AdvertisementThe Securities and Exchange Commission on Friday charged accounting firm BF Borgers and its owner, Benjamin Borgers, with "massive fraud." "Trump Media looks forward to working with new auditing partners in accordance with today's SEC order," a TMTG spokesperson told Business Insider. AdvertisementDespite losing money and being cagey about how its user base compares to its social media rivals, Trump Media is now valued at over $6.3 billion.

Persons: Trump, BF Borgers, —, Benjamin Borgers, Donald Trump's, Borgers, BF, Grewal Organizations: BF, SEC, Trump Media, Service, Securities, Exchange Commission, Trump Media & Technology, Bloomberg, Public Company, American Institute of Certified Public Accountants, Business, Truth

☆ DJT stock: Truth Social keeps shrinking despite the Trump trial and looming election
▼ + stars: | 2024-05-03 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

Yet new data shows its main product — the conservative-friendly social network Truth Social — remains a very tiny player in its industry, and it’s getting even smaller. “If your entire social circle is on a social media platform, that’s a strong pull to sign up. ‘Meme stock’ argumentTrump recently received another 36 million shares of Trump Media as part of a bonus known as earnout shares. Including those new shares, Trump owns 114.75 million shares of Trump Media — a stake valued at $5.6 billion. Of course, Kennedy notes that there is a counter argument that Trump Media is not a typical social media stock, and so traditional metrics like growth and revenue don’t really matter.

Persons: Donald Trump, it’s, ”, Matthew Kennedy, Kennedy, “, Trump, Shannon Devine, ” Devine, Similarweb, Mark Zuckerberg’s Meta, Gettr, Tom Liu, Musk, ” Kennedy Organizations: New, New York CNN, Trump Media & Technology, Trump Media, CNN, Trump, Truth, Renaissance, Social, ” Trump Media, Elon Musk Locations: New York, Similarweb

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