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☆ It isn't just Boeing that's bleeding billions — major US airlines are hemorrhaging cash too
▼ + stars: | 2024-04-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Southwest Airlines and American Airlines posted losses in the first quarter of 2024. On Thursday, Southwest Airlines and American Airlines reported losses in their quarterly earnings call. Southwest Airlines CEO Bob Jordan told CNBC the decision to cease flights had "nothing to do" with Boeing's aircraft delivery delays. AdvertisementRepresentatives for Southwest Airlines and American Airlines didn't immediately respond to a request for comment from BI sent outside regular business hours. "Near term, yes, we are in a tough moment," Boeing CEO Dave Calhoun said in a letter to employees on the same day.

Persons: It's, Bob Jordan, —, George Bush, Jordan, Robert Isom, I've, Isom, Isom's, Brian West, Dave Calhoun Organizations: Boeing, Airlines, Southwest Airlines, American Airlines, Southwest, Service, —, — Bellingham International, Cozumel International Airport, George, George Bush Intercontinental Airport, Syracuse Hancock International, CNBC, American, Bank of America Global Industrials Conference . West, BI, Max, Wednesday Locations: — Bellingham, Cozumel, Southwest, Oregon, California

☆ Newly minted RNC chair Lara Trump says they've got lawsuits cooking in 81 states. There are 50 states.
▼ + stars: | 2024-04-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Advertisement"We have lawsuits in 81 states right now," Trump told Bolling. "Maybe there are 81 states in the future and she's a time traveler," an X user named Mike Freeman said in a post. AdvertisementLate-night host Jimmy Kimmel couldn't resist mocking Lara Trump either when he referenced the moment in his monologue on Wednesday night. "In 81 states! Last week, she fired back when a viewer questioned her intellect on her podcast, "The Right View with Lara Trump."

Persons: —, Lara Trump, — who's, Donald Trump's, Eric —, we're, Eric Bolling, Jocelyn Benson, Trump, Bolling, 3vZ8mRYvgE —, Mike Freeman, Jimmy Kimmel, they're, Kimmel, Donald Trump, Michael Whatley, Lara, MAGA, hasn't, Lara Trump's Organizations: Service, Republican National, RNC, Business, South Virginia ., North, North Carolina GOP Locations: Tennessee, . West Dakota, South Virginia, South Virginia . Indiana, North Carolina

☆ Should investors buy the dip in Lululemon? Here's what this fund manager says
▼ + stars: | 2024-04-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Shares of popular athleisure brand Lululemon have plummeted this year, trailing the S & P 500 significantly. Its shares, which were included in the Wall Street index just last October, are down around 28% year-to-date. Dwyer also pointed out that Lululemon is unlikely to be exposed to any geopolitical risks surrounding China. "Millennials represent around a third to 40% in China and then Gen Z are a much bigger share of the demographic - they are fans of this brand," Dwyer. According to FactSet, Lululemon has a buy rating of 69% and analysts covering the stock give it 28.1% potential upside from the average price target.

Persons: Jack Dwyer, Dwyer, FactSet, Lululemon Organizations: Infusive Asset Management, CNBC, Consumer Alpha Global, Fund, Netflix, PepsiCo Locations: China, —, LVMH

☆ Matty Healy says he hasn't 'really listened' to Taylor Swift's 'The Tortured Poets Department,' the most streamed album in the world right now
▼ + stars: | 2024-04-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

But Matty Healy says he hasn't "really listened to that much of it." AdvertisementTaylor Swift's "The Tortured Poets Department" may have broken multiple streaming records, but Matty Healy says he hasn't "really listened" to the album yet. I haven't really listened to that much of it, but I'm sure it's good," Healy said of the album. Healy's response may surprise some, considering how fans have speculated that he is the subject of several songs on Swift's album. On Wednesday, streaming giant Spotify said that Swift's album had become the platform's "most streamed album in a single week," surpassing a billion streams since its release on Friday.

Persons: Taylor Swift's, Matty Healy, Healy, —, Taylor, Swift, Joe Alwyn, Travis Kelce, would've, Swift didn't Organizations: Poets Department, Service, Department, Kansas City Chiefs, GQ, Spotify, BI

☆ The man who audited Trump's social media company misspelled his own name in 14 different ways: FT
▼ + stars: | 2024-04-25 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewThe accountant hired to audit former President Donald Trump's social media company seemed to have a lot of trouble spelling his name, the Financial Times reported on Wednesday. But others, like Blake F Borgers and Ben F Vonesh, were entirely different names. Representatives for BF Borgers and Trump Media & Technology Group did not immediately respond to a request for comment from BI sent outside regular business hours. In November, Borgers' firm was also removed from the American Institute of Certified Public Accountants' peer review program. Trump Media shares had initially soared when it went public, only to crash by nearly 40% in a matter of weeks.

Persons: —, Donald Trump's, Ben F Borgers, Ben F Brogers, Ben F orgers, Blake F Borgers, Ben F Vonesh, Borgers, Brown, WithumSmith, Trump, Forbes, Jean Carroll, he's, Stormy Daniels Organizations: Service, Financial Times, Public Company, Business, BF Borgers, Trump Media & Technology Group, BI, Bloomberg, American Institute of Certified Public Accountants, Trump, Trump Media, New Locations: New York, Manhattan, Mar

☆ The US and China are engaging more. But that doesn't mean they trust each other more, an analyst said.
▼ + stars: | 2024-04-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US and China's engagements don't mean they trust each other more, said Eurasia Group's Ian Bremmer. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But just because they're talking more doesn't mean that they actually trust each other more, an analyst said on Wednesday. Earlier this month, Treasury Secretary Janet Yellen visited China, seeking cooperation in areas beneficial to both countries. Advertisement"It's always better to have more engagement, more conversations — especially when you don't trust each other," Bremmer said.

Persons: Ian Bremmer, —, Joe Biden, Xi Jinping, there's, Bremmer, Janet Yellen, Lloyd Austin, State Anthony Blinken, William Lai — Organizations: Service, Eurasia Group, Bloomberg, APEC, Defense, State Locations: Eurasia, Ian Bremmer . Washington, China, Taiwan, San Francisco, US, Washington, Taiwan —, Beijing

☆ A South Korean woman says she fell in love with a fake Elon Musk who talked up a storm about building Gigafactories and luxe helicopter rides. Then she gave him $50,000.
▼ + stars: | 2024-04-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

A South Korean woman lost $50,000 after falling in love with a fake Elon Musk. The Musk impersonator befriended her on Instagram, where he told her he "contacts fans randomly." Fake Musk then claimed he could make the woman rich by helping her invest her money. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA South Korean woman says she lost $50,000 to a con artist who was posing as Elon Musk.

Persons: Elon, —, Elon Musk, Musk Organizations: Service, South, KBS, Korea, Business Locations: Korean, South Korean

☆ Buy these gold and copper stocks to ride AI, China demand and more, say fund managers
▼ + stars: | 2024-04-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

Gold and copper have been on fire, as geopolitical tensions mount, central banks buy up gold, and AI demand for copper grows. Copper, too, has done well, with copper futures hitting their highest level since 2022 last weekend. Stock picks He named Australian gold miner Northern Star and copper miner Southern Copper as stocks he's bullish on right now. He said against that backdrop, he's getting back into some gold mining stocks such as Gold Fields and K92 Mining. It said that copper demand will already "significantly exceed" supply starting this year — and that's not even accounting for demand growth from data centers.

Persons: Kingsley Jones, Jevons, CNBC's, Jones, Kamil Dimmich, Dimmich, he's, that's, Jefferies, Teck, Ian Roper, Michael Bloom Organizations: Wall Street, U.S . Federal Reserve, Stock, Northern Star, South, K92 Mining, Jefferies, JPMorgan, Teck Resources, North, Astris Advisory Japan KK, CNBC Locations: USA, Europe, South Capital, East, China, Freeport, McMoRan, Lundin, Teck, North America

☆ Elon Musk is throwing the distant dream of a 'sentient' Optimus robot at Tesla's shareholders
▼ + stars: | 2024-04-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk doesn't think Tesla should be viewed as just another auto company. Musk told investors on Tuesday that Tesla's Optimus robots are its most valuable asset. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTesla's Optimus robots could become the company's most valuable asset, says the company's CEO Elon Musk. "As I've said before, I think Optimus will be more valuable than everything else combined," Musk said in an earnings call on Tuesday.

Persons: Elon, Tesla, Musk, —, Elon Musk, I've, you've Organizations: Optimus, Service

☆ Biden is fighting Trump's tough tactics by calling for tripled tariffs on Chinese steel imports
▼ + stars: | 2024-04-24 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewUS President Joe Biden last week called for a tripling of tariffs on Chinese steel and aluminum imports, echoing former President Donald Trump's levies on a range of goods from China. Biden — who is the frontrunner for the Democratic Party's presidential nominee — said China's steel production was backed by state funds, which enable the commodity to be sold cheaply to the US. He wants to hike a key tariff on Chinese steel and aluminum from 7.5% to 25%. AdvertisementHowever, the US isn't a large Chinese steel importer. AdvertisementLin added that China's steel sector is geared toward meeting domestic demand and doesn't receive any export-oriented subsidies.

Persons: —, Joe Biden, Donald Trump's, Biden —, Trump, Chim Lee, Biden, Lin Jian, Lin, Janet Yellen, EIU's Lee Organizations: Service, Democratic, Business, Bloomberg, Economist Intelligence Locations: China, Beijing, Chile, Brazil

☆ Spotify CEO Daniel Ek has realized laying off 1,500 people at one go may have created a 'significant challenge' for Spotify's day-to-day operations
▼ + stars: | 2024-04-24 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Daniel Ek said Spotify underestimated the impact of laying off 1,500 people in December. "It took us some time to find our footing," Ek told investors in an earnings call. AdvertisementLaying off 1,500 people in December ended up creating a "significant challenge" for Spotify, the company's CEO Daniel Ek said on Tuesday. "Although there's no question that it was the right strategic decision, it did disrupt our day-to-day operations more than we anticipated," Ek told investors in an earnings call. The layoffs, Ek said in December, were necessary as the company needed to become "relentlessly resourceful."

Persons: Daniel Ek, Ek, —, Taylor, Swift, Mark Zuckerberg, Neal Freyman, Toby Howell, Zuckerberg Organizations: Service, Spotify, Poets Department, Brew Daily, BI

☆ Big Tech has split into 3 camps: loved, hated and iffy. Here's where our 8 stocks fit
▼ + stars: | 2024-04-24 | by ( Jim Cramer | ) www.cnbc.com time to read: +8 min

META YTD mountain Meta Platforms YTD Meta has the biggest tailwind on Earth being dangled in front of it — the newly signed law that says Chinese company ByteDance must sell TikTok or face a U.S. ban on the short-form video platform. AMZN YTD mountain Amazon YTD Amazon is also in the loved category but reports this coming Tuesday. NVDA YTD mountain Nvidia YTD I have no idea how Nvidia got to be a fence-sitter. AVGO YTD mountain Broadcom YTD Broadcom is iffy. CRM YTD mountain Salesforce YTD Salesforce has become mighty complicated.

Persons: I'm, Mark Zuckerberg, Meta, Andy Jassy, It's, Claude AI, Jensen Huang, Nvidia's, hasn't, it's, Hock Tan, Salesforce, Marc Benioff, what's, that's, Jim Cramer's, Jim Cramer, Jim, Carlos Barria Organizations: Microsoft, Meta, he's, Google, Amazon, Services, Nvidia, Broadcom, Blackwell, VMWare, calvary, PayPal, Informatica, Apple, CNBC, Facebook Locations: U.S, Oregon, Informatica, China, Menlo Park , California

☆ Russian state TV has found itself a fur-clad, 'demonstratively heterosexual' GOP 'beauty' to fawn over: Marjorie Taylor Greene
▼ + stars: | 2024-04-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Margarita Simonyan, RT's editor-in-chief, called MTG a blond, fur-wearing "beauty." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementRep. Marjorie Taylor Greene has just won herself some new admirers. The GOP congresswoman was painted in glowing terms during a broadcast on Russian state television on Sunday. "Marjorie Taylor Greene, you've just shown is a beauty.

Persons: Margarita Simonyan, Simonyan, Greene, —, Marjorie Taylor Greene, you've Organizations: Georgia Republican, Ukraine, Service, GOP, RT

☆ Gukesh Dommaraju: Indian teenager becomes youngest challenger for world chess title, will face reigning champion from China
▼ + stars: | 2024-04-23 | by ( Andrew Mcnicol | ) edition.cnn.com time to read: +4 min

CNN —Teenage Indian chess prodigy Gukesh Dommaraju, better known as Gukesh D, became the youngest player to claim the men’s Candidates Tournament in Toronto, Canada Sunday. The 17-year-old grandmaster’s win sets up an opportunity to dethrone reigning world champion Ding Liren of China at the 2024 World Chess Championship later this year. Gukesh is set to become the youngest player ever to challenge for a world chess title. China’s Tan Zhongyi won the women’s Challenger category to qualify for a world title match against compatriot and reigning world champion Ju Wenjun – date also unknown. Gukesh is the second Indian to play in a world championship after legendary Indian player Viswanathan “Vishy” Anand.

Persons: Gukesh Dommaraju, Ding Liren, Ding, Garry Kasparov’s, Gukesh, Hikaru Nakamura, “, ” Gukesh, ”, Kasparov, ” Kasparov, Narendra Modi, Gukesh’s, Magnus Carlsen, China’s Tan Zhongyi, Ju, Rameshbabu, Carlsen, “ Pragg, Viswanathan “ Vishy ” Anand, Anand, “ I’m, ” Anand Organizations: CNN, International Chess Federation, FIDE, Indian Locations: Toronto, Canada, China, Russian, Asia, Britain, India, Vaishali

Others took evening walks in the city and shared the bright orange scenes on social media. A low-pressure system over northern Africa swept dust over Cyprus several times in mid-April, “darkening skies and reducing air quality,” NASA said Tuesday. Dust was expected to continue to cross the Mediterranean, impacting both Cyprus and Greece over the next several days, NASA said. People cross a snow covered railway in Helsinki, Finland, on April 23, 2024, as an unusual weather system brought trams in the city to a halt. Photos showed Helsinki residents walking through thick snow and ice, carrying umbrellas under heavy snowfall, and tall clusters of snow piled up on sidewalks, cars and scooters.

Persons: Alessandro Rampazzo, Johannes Laitila, Finavia, ” Finavia, ”, Antti Vigelius Organizations: CNN, NASA, Anadolu Agency, Getty, YLE, Helsinki Airport, Johannes Locations: Greece, Africa, Athens, Cyprus, Helsinki, Finland, Europe

☆ Tesla is playing a brutal price game of 'how low can you go' with its Chinese EV rivals
▼ + stars: | 2024-04-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewTesla, eager to hold on to its market share in China, is amping up its price war against its Chinese rivals amid declining sales. In China, Tesla has reduced the price of its Model 3, S, X, and Y by 14,000 yuan, or $1,930. The Model Y now costs 249,900 yuan — yet another cut from its January price of 299,900 yuan. Related storiesTesla CEO Elon Musk defended his company's pricing strategy on Sunday, writing on X that "Tesla prices must change frequently in order to match production with demand." In fact, Musk went so far as to frame his Chinese rivals as an existential threat to all automakers.

Persons: —, Tesla, Li, BYD, Elon Musk, Musk Organizations: Service, Business, Li Auto, BI Locations: China

☆ Saudi Arabia's oil giant boss speaks up for China, saying its massive production of solar panels and EVs helps affordability
▼ + stars: | 2024-04-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Saudi Aramco CEO Amin Nasser praised China for making solar panels and electric vehicles affordable. Saudi Arabia is fostering closer ties with China and wooing Chinese investments and business partnerships. Unlike the West, Saudi Arabia is cozying up to China. "There are lots of opportunities for China to invest in Saudi Arabia," Alibrahim told the media outlet. In March last year, China brokered a détente between Saudi Arabia and Iran, prompting concerns over waning US influence in the Middle East.

Persons: Amin Nasser, Nasser, China's overcapacity, Janet Yellen, Olaf Scholz, China Nasser's, Faisal Alibrahim, Alibrahim, Jon Alterman Organizations: Saudi, Service, Saudi Aramco, World Energy, Financial Times, West, Nikkei, Aramco, Center for Strategic, International Studies, China Economic, Security Locations: China, Saudi Arabia, Saudi Aramco, Saudi, Rotterdam, East Asia, Beijing, Saudi Arabian, Iran, United States

☆ Elon Musk wanted Tesla to slash its headcount by 20% because its quarterly vehicle deliveries fell by that much, Bloomberg source says
▼ + stars: | 2024-04-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk wanted Tesla to reduce its workforce by one-fifth, Bloomberg reported. Musk wanted the layoffs to match the drop in quarterly vehicle deliveries. Tesla delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the last quarter. The reduction, Musk reasoned, should match the reduction in vehicle deliveries between the fourth quarter of 2023 and the first quarter of 2024, per Bloomberg. Earlier this month, Tesla said it delivered 386,810 cars in the first quarter of 2024, a 20.1% drop from the previous quarter.

Persons: Elon Musk, Tesla, Musk, — Organizations: Bloomberg, Service

☆ Russia may ramp up attacks on Ukraine to capitalize on the limited window they have before new US aid arrives: ISW
▼ + stars: | 2024-04-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Ukraine may face more attacks from Russia even though US aid is on its way, says the ISW. The ISW says Russia can "take advantage of the limited window before the arrival of new US aid." The House finally passed more than $60 billion of aid to Ukraine after months of delays. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "The frontline situation will therefore likely continue to deteriorate in that time, particularly if Russian forces increase their attacks to take advantage of the limited window before the arrival of new US aid," the ISW wrote in a report on Saturday.

Persons: — Organizations: Service, for, Business Locations: Ukraine, Russia

☆ People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
▼ + stars: | 2024-04-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

China's consumers and its central bank are snapping up gold, even as a falling yuan makes the metal pricier. AdvertisementChina's central bank has also been buying up gold, in much larger quantities than Gen Z's few grams of beans. Related storiesIn 2023, China's central bank bought 225 tons of gold, per the World Gold Council. The two economies have been jostled in the top spots for years, but China's buying spree last year put India behind. Advertisement"The amount of central bank buying is not justifying gold prices at current levels," she wrote.

Persons: —, It's, Georgette Boele Organizations: Service, Bloomberg, People's Bank of China, Gold, World Gold Council, ABN AMRO Locations: China, China's, India, Poland, Singapore, Germany

☆ Elon Musk says he 'would know' if there are aliens out there with all the Starlink satellites he has orbiting Earth
▼ + stars: | 2024-04-22 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Elon Musk doesn't think aliens are out there. "I have seen no evidence for aliens and, with ~6000 satellites orbiting Earth, I think I would know," Musk said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementSpaceX owner Elon Musk doesn't think aliens exist. "I have seen no evidence for aliens and, with ~6000 satellites orbiting Earth, I think I would know," Musk wrote on X on Monday.

Persons: Elon, Musk, —, Elon Musk, Tucker Carlson, Joe Rogan, Carlson Organizations: SpaceX, Service

☆ See Dubai flooding from space
▼ + stars: | 2024-04-22 | by ( Mary Gilbert | ) edition.cnn.com time to read: +3 min

CNN —Unprecedented, torrential rainfall plunged parts of the United Arab Emirates underwater last week, bringing life to a standstill in Dubai and elsewhere. NASA NASA Images taken over the Jebel Ali area, located on the southern outskirts of Dubai, capture the area before and after historic flooding. The flooding shown is in the southernmost portion of Dubai, but the city’s highly urbanized central hub isn’t captured. The torrential rain was associated with a larger storm system last week traversing the Arabian Peninsula and moving across the Gulf of Oman. A warmer atmosphere is able to soak up more moisture like a towel and then ring it out in the form of torrential rainfall.

Persons: Abu Dhabi Organizations: CNN, United, United Arab Emirates, Dubai, UAE, NASA, United States Geological Survey, NASA NASA Locations: United Arab, Dubai, UAE, –, Abu Dhabi, Jebel Ali, Gulf of Oman, Oman

☆ I felt a lack of direction after I retired from being a CEO. Then I found a new career as a model at age 63.
▼ + stars: | 2024-04-21 | by ( Jane Ridley | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. I did my first modeling shoot at 63. I thought I'd give modeling a tryI was on my computer a couple of months later, and a pop-up appeared. Rachael told me I looked sharp. Hurd told Business Insider that he never gets nervous ahead of a modeling shoot.

Persons: —, Anthony Hurd, Music, I've, Hurd, Rachael, David Gandy, It's, I'm Organizations: Service, UK, Business, Comic Relief, Nike, Reebok, Coca, BMW, Kentucky, Visa Locations: London, Paris, Sweden

Listen and follow The DailyApple Podcasts | Spotify | Amazon MusicDebates over homeless encampments in the United States have intensified as their number has surged. To tackle the problem, some cities have enforced bans on public camping. As the Supreme Court prepares to hear arguments about whether such actions are legal, Abbie VanSickle, who covers the court for The Times, discusses the case and its far-reaching implications.

Persons: Abbie VanSickle Organizations: Spotify, The Times Locations: United States

☆ Oil disruption fears in the Middle East are getting real after reports of an Israel strike on Iran
▼ + stars: | 2024-04-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Read previewOil prices jumped while stocks sold off after reports of an escalation in Middle East tensions. International benchmark Brent crude oil futures rose as much as 4.2% before trading 2.8% higher at $89.54 a barrel at 11:15 p.m. EDT. The strike on Friday came days after Iran attacked Israel on Saturday with a barrage of more than 300 missiles and drones. Israel didn't claim responsibility for the strike, but Iran held it accountable and vowed retaliation. Oil markets shrugged off Iran's attack on Israel as the market assessed the conflict would remain contained.

Persons: —, Israel didn't, Israel, Kyle Rodda, Rodda Organizations: Service, Brent, US West Texas, Business, ING, Stock Locations: East, Israel, Iran, Iran's, Damascus, Syria

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