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☆ Jon Stewart says Biden is so old he 'shouldn't be president'
▼ + stars: | 2024-05-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Jon Stewart says Joe Biden, 81, is just too old to be president. AdvertisementA second Trump term may be frightening, but President Joe Biden is just too old to be reelected, says comedian Jon Stewart. "I know liberals say, 'Don't say Joe Biden is old' — don't say what people see with their own eyes," Stewart said of the 81-year-old president. Advertisement"I'm not saying that Biden can't contribute to society, he just shouldn't be president," Stewart told his audience. Representatives for Stewart, Biden, and Trump didn't immediately respond to requests for comment from BI sent outside regular business hours.

Persons: Jon Stewart, Joe Biden, Stewart, Biden, —, Trump, Donald Trump, that's, Biden's, hasn't, Trump's Organizations: Service, Trump, Netflix, Hollywood, Biden, Oval, MSNBC, BI, Politico

☆ Being a psychopath helped me excel as a lawyer and not care about gender roles. Non-psychopaths can learn 2 things from me.
▼ + stars: | 2024-04-09 | by ( Serafina Kenny | ) www.businessinsider.com time to read: +5 min

AdvertisementI feel like I'm really far away from my emotions, so things that should trigger me emotionally, don't. For example, I don't feel the need to get up and help my dad if he falls just because he's my dad. I don't really have a strong sense of my gender, which is a superpower. Female psychopaths tend to be dominant more in traditionally female ways — social ways, like being Queen Bee or being emotionally manipulative and using mental games. People who interact with me for work often think I'm very chill and can handle all sorts of stress.

Persons: —, M.E, Thomas, it's, I'm, Thomas I, Bee, they're, that's Organizations: Service, Business Locations: San Francisco

☆ With eyes on China, US special operators are back to battling the jungle
▼ + stars: | 2024-03-24 | by ( Stavros Atlamazoglou | ) www.businessinsider.com time to read: +5 min

With the potential for a conflict with China in the Indo-Pacific looming ever larger in the background, the US special operations community is focusing more and more on jungle operations. A Marine Raider with Marine Forces Special Operations Command traverses a river during a jungle mobility course, Aug. 4, 2023. A Marine Raider with Marine Forces Special Operations Command navigates a single rope bridge during a jungle mobility course, Aug. 4, 2023. A history of jungle operationsUS commandos have a long history of conducting jungle operations. AdvertisementToday, as the US attempts to redirect its focus to the Indo-Pacific amid steadily rising tensions between the US and China, it looks like jungle operations are back on the menu for the US special operations community.

Persons: —, Cpl, Henry Rodriguez, skillsets, Cody Carroll, I've Organizations: Service, Pacific, Marine Raiders, Business, Tactical Tracking, Raider, Marine Forces Special Operations Command, . Marine Corps, Marine Forces Special, Command, Alamo Scouts, Military Assistance Command Vietnam, MACV, SOG, North, Vietcong, White, Pentagon, Green Berets, Navy, Force Recon, Air Commandos Locations: East, China, Oahu, Hawaii, Iraq, Afghanistan, Syria, Vietnam, Asia, Laos, Cambodia, South Vietnam

☆ Karen Firestone: Here’s what’s fueling mega-cap tech’s win streak into 2024
▼ + stars: | 2024-02-07 | by ( Karen Firestone | ) www.cnbc.com time to read: +5 min

The Jan. 31 session, which came after the first Big Tech earnings day, was tough. A non-stock devotee would be blown away by any of the following data points: In the fourth quarter , Meta grew ad volume by 21% year over year. Meanwhile, net sales for Amazon in 2023 hit $574.8 billion – a 12% increase from the year earlier. The above table illustrates the compound annual growth rate analysts expect for the mega caps, the S & P 500, and the 494 stocks excluding the Big Six. This compares to 20.3 for the S & P 500.

Persons: we've, Jerome Powell's, Meta, Apple, bemoaned Meta's, ROA, — Karen Firestone Organizations: Big Tech, Microsoft, Nasdaq, Nvidia, Apple, Google, Power, Amazon, TikTok, Facebook, Asset Management

☆ How the Biden campaign is breaking with the Obama reelection model
▼ + stars: | 2024-02-01 | by ( Mj Lee | Edward-Isaac Dovere | ) edition.cnn.com time to read: +8 min

The Biden reelection campaign is rejecting the political organizing model that Obama used during his campaign for a second term in 2012, in which Obama largely shunned the Democratic National Committee and opted instead to set up his own vast electioneering machine. Several top DNC officials at the time complained that they were ignored by Obama, while state parties complained they were starved for resources. “One of the big challenges in 2012 was a national competition and rub between (Organizing For Action) and the state parties. Jim Messina, Obama’s 2012 campaign manager, previously told CNN that he believes the Obama campaign spent too much too early. Though O’Malley Dillon will now shift fully into politics, she remained deeply engaged with campaign operations throughout her time in the West Wing.

Persons: Joe Biden’s, Barack Obama, Obama, Biden, ”, Ray Buckley, “, Trump, officeholder, Ben Wikler, ’, —, Morgan Jackson, ” Jackson, Jim Messina, Jen O’Malley Dillon, Biden’s, O’Malley Dillon, Anita Dunn, Mike Donilon Organizations: Washington CNN, Biden, Democratic National Committee, Democratic, CNN, New Hampshire Democratic, White, New, Republican, West, Wisconsin Democratic Party, Wisconsin Democratic, DNC, White House, Trump, North Carolina – Locations: “, New Hampshire, North Carolina, South Carolina , Georgia, Nevada , Michigan , Wisconsin , New Hampshire , Pennsylvania, Arizona, Wisconsin, Georgia , Nevada , Arizona, Pennsylvania, Michigan, Obama’s, –, Wilmington , Delaware, Nevada, Delaware

☆ Dollar eyes monthly gain as markets look to Fed
▼ + stars: | 2024-01-31 | by ( ) www.cnbc.com time to read: +2 min

A Japanese 10,000 yen and a U.S. 100 dollar banknote juxtaposed against each other in Tokyo, Japan, on Monday, June 20, 2016. Later, the Federal Reserve is expected to hold U.S. interest rates steady but flag cuts are coming by dropping language indicating it is weighing further hikes. Interest rate futures price a roughly 43% chance of a Fed rate cut in March, down from 73% at the start of the year. "A 100% probability of a rate cut would point to euro/dollar at $1.1080, while a rate cut that is fully ruled out for March would point the way to euro/dollar at $1.0660," he said. Expectations of interest rate cuts in China have driven a strong rally in the bond market this month while the yuan has been squeezed by flight from China's crumbling equity markets.

Persons: Sterling, Alan Ruskin Organizations: Bank of Japan's, Federal Reserve, New Zealand Locations: U.S, Tokyo, Japan, Asia, China

Anna Boden and Ryan Fleck remember the feeling of being the new kids at the Sundance Film Festival. “I remember being like, oh my God, this festival has been around 20 years, it’s such an old festival,” Boden said in a recent interview with The Associated Press. Their new film debuts Thursday, opening night of the 40th edition of the festival, at the storied Eccles Theater. “My favorite films are Sundance films,” Kaphar said. “That is really nourishing in a year when we’re acknowledging and marking this 40th edition of Sundance.”The Sundance Film Festival runs from Jan. 18 through Jan. 28.

Persons: Anna Boden, Ryan Fleck, they’d, Ryan Gosling, “, ” Boden, Kevin Smith, brough, ”, Steven Soderbergh, — Boden, Fleck, Marvel, dulled, Fleck’s, Pedro Pascal, Jay Ellis, Dominique Thorne, Ben Mendelsohn, Jesse Moss, Amanda McBaine’s “, Frida, Carla Gutiérrez, Gutiérrez, Frida Kahlo, ” Gutiérrez, “ Sue Bird, “ DEVO, Christopher Reeve, ” “, Mavis Beacon, Harper, Will Ferrell, Kristen Stewart, Saoirse Ronan, Kieran Culkin, Sebastian Stan, Glen Powell, Woody Harrelson, Steven Yeun, Lucy Liu, Danielle Deadwyler, Aubrey Plaza, Melissa Barrera, Laura Linney, Ejiofor, “ Rob Peace, Jay Will, Mary J, Blige, Camila Cabello, “ I’ve, ” Ejiofor, Debra Granik, Richard Linklater, Titus Kaphar, André Holland, Aunjanue Ellis, Taylor, Kaphar, John Earl Jelks, ” Kaphar, … it’s, Jesse Eisenberg, he’s, Culkin, ” Eisenberg, Eisenberg, David, Nathan Zellner, Riley Keough, Robert Redford, Joel, Ethan Coen’s, Jordan Peele’s “, Damien Chazelle’s, Eugene Hernandez, ” Hernandez Organizations: Sundance Film, Associated Press, Sundance, Eccles Theater, Amanda McBaine’s “ Girls, MacArthur, Sundance ., Eccles Locations: Park City , Utah, Brooklyn, ”, Park City, Eccles, Oakland, U.S, East Orange , New Jersey, American, Poland, Jan

☆ Microsoft’s Satya Nadella is CNN Business’ CEO of the Year
▼ + stars: | 2023-12-26 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +10 min

New York CNN —It was the year of artificial intelligence, and no Big Tech company leaned into the trend like Microsoft. That’s why CNN Business’ staff chose Nadella as the CEO of the Year, beating out other contenders including Chase CEO Jamie Dimon, OpenAI CEO Sam Altman and Nvidia CEO Jensen Huang. “There’s no question 2023 was the year of AI,” Nadella told CNN in an emailed response. OpenAI CEO Sam Altman and Nadella shared the stage at OpenAI’s first developer conference to discuss their partnership. Nadella told CNN he indeed remains “focused” on empowering both people and organizations to achieve more, as it continues to make and deploy new products.

Persons: Satya Nadella, Nadella, Jamie Dimon, Sam Altman, Jensen Huang, “, ” Nadella, Pfizer’s Albert Bourla, Taylor Swift, Gil Luria, DA Davidson, ”, OpenAI —, Justin Sullivan, OpenAI’s Altman, Altman, “ It’s, OpenAI, ” OpenAI, ” Luria, Greg Brockman, Luria, Fred Havemeyer, “ Mr, Brad Barket, Stuart Carlaw, Nadella’s, he’s, ” Carlaw, hasn’t, ” Takeshi Numoto, — CNN’s Allison Morrow Organizations: New, New York CNN, Big Tech, Windows, CNN Business ’, Chase, Nvidia, CNN, Fortune, Microsoft, Ivy League, University of Wisconsin -, University of Chicago Booth School of Business, ChatGPT, Google, Macquarie, ABI Research Locations: New York, Silicon Valley, Seattle , Washington, Valley, India, University of Wisconsin - Milwaukee, Instacart, OpenAI

☆ Resurgent S&P 500 crests new 2023 closing high after roller-coaster year
▼ + stars: | 2023-12-01 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The benchmark index closed at 4,594.63, nearly 6 points above its previous closing high for 2023 set in late July. The S&P 500 is up over 19% year-to-date after posting its biggest monthly rise in over a year in November. The S&P 500 reached its previous 2023 closing high on July 31, also spurred in part by excitement over developments in artificial intelligence technology. The megacaps' outperformance has increased their combined weight to well over one-fourth of the entire S&P 500, meaning the stocks' moves have outsized influence on the benchmark index. The S&P 500 currently trades at roughly 19 times forward earnings estimates, compared to a historical average of 15.6 times.

Persons: Mike Segar, Jerome Powell, Stocks, Lewis Krauskopf, Noel Randewich, Saqib Iqbal Ahmed, Ira Iosebashvili, Nick Zieminski Organizations: New York Stock Exchange, REUTERS, Federal, Valley Bank, Citigroup, Microsoft, Nvidia, Thomson Locations: Lower Manhattan, New York, U.S

☆ Morning Bid: Japan CPI to light up dulled Thanksgiving trade
▼ + stars: | 2023-11-23 | by ( Denny Thomas | ) www.reuters.com time to read: +3 min

Tom Turkey float rides during the 97th Macy's Thanksgiving Day Parade in Manhattan, New York City, U.S., November 23, 2023. With Wall Street shut for Thanksgiving on Thursday, Asian investors will miss the usual swing factor. Instead, Friday's release of Japan's core inflation data for October will set the tone for trading in the region. Japan's core consumer inflation likely accelerated again in October, staying above the central bank's 2% price target for a 19th straight month, according to a Reuters poll. But some of the inflation-easing trade is already priced into the market, reflected in the near 11% rally in the MSCI world index (.WORLD) in the past 18 trading days.

Persons: Tom Turkey, Brendan McDermid, Denny Thomas, Josie Kao Organizations: REUTERS, Rights TORONTO, Bank of, Beijing, European Central Bank, Stocks, Malaysia CPI, Thomson, Reuters Locations: Manhattan , New York City, U.S, Japan, China, Europe, Singapore, New Zealand, Thailand, Taiwan

Nov 20 (Reuters) - Rivian Automotive (RIVN.O) said on Monday that CEO RJ Scaringe would directly oversee all product development effective immediately as the electric-vehicle maker gears up to unveil and launch its smaller and cheaper vehicle family. Chief Product Development Officer Nick Kalayjian would move to the role of executive vice president, vehicle engineering and propulsion before transitioning to an advisory role, the company said. "It's a big year for product for Rivian, so RJ is doubling down on the introduction of our new technologies in 2024 and the design and development of R2," a spokesperson for Rivian told Reuters. The company's product reporting structure will include software, autonomy, design, vehicle, electrical, propulsion and programs categories, Rivian said. "I know that (Scaringe) spending more time working with our product teams will create significant value for all of us and our shareholders," Kalayjian, who joined Rivian in 2020, said in another internal email seen by Reuters.

Persons: RJ Scaringe, Nick Kalayjian, Rivian, Nick, Scaringe, Tesla, Elon Musk, Kalayjian, Abhirup Roy, Bhanvi, Shilpi Majumdar, Bill Berkrot Organizations: Rivian, RJ, Reuters, General Motors, Ford, Thomson Locations: Rivian, San Francisco, Bengaluru

☆ ‘The Crown’ Season 6 review: Diana takes center stage as final season saves the worst for last
▼ + stars: | 2023-11-16 | by ( Brian Lowry | ) edition.cnn.com time to read: +4 min

After sweeping the Emmys with the previous iteration of its cast, the Netflix drama looks ready to limp across the finish line unbowed, but slightly bloodied. Splitting the final season into two parts, the first four episodes focus on a pair of relationships in the wake of the divorce that shook the world. Fflyn Edwards as Prince Harry, Elizabeth Debicki as Princess Diana and Rufus Kampa as Prince William in "The Crown" Season 6. The fifth season premiered not long after Queen Elizabeth II’s death, which somewhat obscured its shortcomings. “The Crown” begins its sixth season November 16 on Netflix.

Persons: ”, there’s, Peter Morgan, it’s, Diana, Elizabeth Debicki, Dodi Fayed, Khalid Abdalla, Mohamed Al Fayed, Salim Daw, Charles, Dominic West, Imelda Staunton, Camilla, Olivia Williams, Elizabeth, Prince Philip, Jonathan Pryce, Charles –, Fflyn Edwards, Prince Harry, Rufus Kampa, Prince William, Daniel Escale, Queen Elizabeth II’s Organizations: CNN, Netflix, Royals

Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. The November figure will also be a slight increase from the 21.41 million metric tons from the same month last year. India, Asia's fourth-biggest LNG buyer, is expected to import 1.3 million metric tons in November, down from 1.85 million in October. More U.S. LNG is also heading to Asia, with November imports slated at 1.97 million metric tons, up from 1.83 million in October. This leaves the spot price at the mercy of demand, and while there has been some uptick in both Asia and Europe, it hasn't been enough to drive spot prices higher.

Persons: Snow, Gary Cameron, Europe hasn't, Asia's, Diane Craft Organizations: REUTERS, Rights, world's, LNG, U.S, Reuters, Thomson Locations: Lusby , Maryland, Rights LAUNCESTON, Australia, Asia, Europe, United States, October's, China, Japan, India, Russia, Ukraine, Qatar, U.S, Western Australia

An electric pick-up truck is pictured at the Rivian Automotive Inc facility in Costa Mesa, California, U.S.,November 1, 2023. Smaller rival Lucid (LCID.O) cut its production forecast on Tuesday "to prudently align with deliveries", sending its shares down 3%. Last month, it reported third-quarter deliveries above market expectations. The company reported a net loss of $1.37 billion, compared with a loss of $1.72 billion a year earlier. Its third-quarter production fell nearly 30% to 1,550 vehicles.

Persons: Mike Blake, Tesla, Elon Musk, I'm, RJ Scaringe, Scaringe, Rivian, Alec Lucas, Akash Sriram, Zaheer Kachwala, Abhirup Roy, Krishna Chandra Organizations: Rivian Automotive Inc, REUTERS, Rivian, Reuters, Global, Saudi Arabia's Public Investment Fund, Amazon, Wall, Thomson Locations: Costa Mesa , California, U.S, Bengaluru, San Francisco

☆ Asia stocks mull over Middle East, central bank meetings
▼ + stars: | 2023-10-30 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

The earnings season also continues with Apple, Airbnb, McDonald's, Moderna and Eli Lilly & Co among the many reporting this week. Early on Monday, S&P 500 futures had edged up 0.3% to 4,151, while Nasdaq futures added 0.5%. Japan's Nikkei (.N225) fell 1.1% amid speculation the Bank of Japan (BOJ) might tweak its yield curve control (YCC) policy after its two-day policy meeting wraps up on Tuesday. The Bank of England is also expected to stay on hold this week, with markets pricing around a 70% chance it is done tightening altogether. Oil prices eased as worries about demand outweighed risks to Middle East supplies, at least for the moment.

Persons: Issei Kato, BoE, BOJ, Eli Lilly, China Evergrande, Treasuries, Goldman Sachs, reacceleration, Brent, Wayne Cole, Jamie Freed Organizations: REUTERS, Nikkei, Apple, Moderna, Nasdaq, HK, Japan's Nikkei, Bank of Japan, Barclays, Treasury, NatWest, Federal Reserve, Bank of England, Capital, Thomson Locations: Tokyo, Japan, U.S, Gaza, payrolls SYDNEY, United States, Britain, McDonald's, Gaza's, Iranian, Asia, Pacific, China, Israel, East

☆ China's massive navy is only getting bigger, and the US is looking overseas for help keeping its warships in action
▼ + stars: | 2023-10-24 | by ( Christopher Woody | ) www.businessinsider.com time to read: +8 min

For years, the US Navy has struggled to complete repairs of its ships on time. To reduce workload at domestic shipyards and keep ships at sea, the US is looking for help overseas. That number has improved, but delays persist amid other challenges at Navy shipyards. Salvor was the first ship repaired in India following the signing of a Master Ship Repair Agreement with L&T Shipyard. "It's all hands on deck within the free world right now, and I think something like that would simultaneously enhance our ability to repair ships more quickly and also be a deterrent in the Pacific."

Persons: —, MCS3 Brandon Roberson, Biden, USNS Charles Drew, USNS Matthew Perry, Salvor, Fitzgerald, Leonard Adams, Carlos Del Toro, Charles Drew, Del Toro, Joel Garcia Japan, Rahm Emanuel, Emanuel, Harry Harris Jr, Harris, Paul, Wendy Hallmark, Rob Wittman, Wittman, Mike Gallagher, Gallagher Organizations: US Navy, Service, Pentagon, Navy, MCS3 Brandon Roberson Public, Maritime Sealift Command, USNS, Larsen & Toubro Shipyard, USNS Salvor, T Shipyard, Military Sealift Command, Mazgaon, Goa Shipyard, Getty, US, White, National Press, Nikkei Asia, US Military Sealift Command, Pacific Command, USS, Puget Sound Naval Shipyard, Republican, House Armed Services Committee, Capitol, Strategic Competition Locations: Western, Washington, China, Norfolk, India, Chennai, Shipbuilders, Mumbai, Goa, Japan, Asia, Philippines, Singapore, South Korea, extremis, USS Minneapolis, St, United States

☆ Wall St Week Ahead Investors seek shelter as U.S. stocks grow more turbulent
▼ + stars: | 2023-10-20 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. Wall Street’s most closely-watched measure of investor nervousness, the Cboe Volatility Index (.VIX), on Friday hit its highest in nearly seven months, as the S&P 500 slid for the week. That has left investors piling into other traditional safe-haven assets such as the dollar and gold, as well as short-term debt. Rising bond yields have dampened risk appetite, raising the cost of capital for companies and offering investment competition to stocks. Geopolitical uncertainties, climbing bond yields and the risk of more losses in stocks means "investors face fresh uncertainties," they wrote.

Persons: Carlo Allegri, Angelo Kourkafas, Edward Jones, “, Jerome Powell, Brent Kochuba, ”, Rick Meckler, Lewis Krauskopf, Saqib Iqbal Ahmed, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Equity, Treasury, Reuters Graphics, Federal, Microsoft, UBS Global Wealth Management, Swiss, Cherry Lane Investments, UBS, Brent, Thomson Locations: New York, Israel, Cherry Lane Investments .

☆ The Ivy League donor backlash is a PR nightmare, and that’s the point
▼ + stars: | 2023-10-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +7 min

Donors understand as well as anyone that pulling their funds won’t inflict significant financial damage on Ivy League institutions, which boast huge endowments, my colleague Nathaniel Meyersohn reports. But he said that financial threats from donors were not the right solution to influencing universities’ positions on these issues. At 5 million subscribers paying $3.99 a month, Snapchat+ is set to earn around $239 million in annual revenue. Still, analysts are intrigued by Snap’s user growth, especially for a company that’s been around for over a decade. “In my view, there’s significant value for a company that’s growing its installed base at this level,” said Angelo Zino, senior equity analyst at CFRA Research.

Persons: CNN Business ’, Nathaniel Meyersohn, Lee Gardner, ” Gardner, “, Indiana University’s, Lawrence Summers, ” Summers, TikTok, Twitter, Snapchat, Clare Duffy, it’s, we’ve, Clare, that’s, ”, Angelo Zino, you’ll Organizations: CNN Business, CNN, Harvard, Ivy League, Higher Education, “ Ivy League, Indiana, Indiana University’s Lilly Family School, Philanthropy, “, US, Netflix, Twitter, Facebook, CFRA Research Locations: Israel, United States, China

☆ Wall St Week Ahead Surging Treasury yields upend stock market's "bond proxies"
▼ + stars: | 2023-10-06 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

Such areas are often referred to as "bond proxies" for their strong, stable dividends, which over the past decade have usually exceeded Treasury yields. But surging bond yields have dulled the appeal of bond proxies. As a result, shares of bond proxies have taken an outsize hit in recent weeks. The S&P 500 utilities sector (.SPLRCU) has tumbled 13% since last month’s Fed meeting. While the sector is expected to see stronger growth than the overall S&P 500 in the third and fourth quarters, its projected 8.6% increase in 2024 lags the expected 12% rise for the overall S&P 500, according to LSEG IBES.

Persons: Brendan McDermid, Irene Tunkel, LSEG, James Ragan, Davidson, Ragan, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Staples, AT, Verizon, Investors, BCA Research, Reuters Graphics, Friday's, U.S, sector's, Nextera Energy, Nextera Energy Partners, KeyBanc, Markets, Thomson Locations: New York City, U.S, Philadelphia, VandaTrack

☆ Nobel Prize winner Katalin Karikó was 'demoted 4 times' at her old job. How she persisted: 'You have to focus on what's next'
▼ + stars: | 2023-10-06 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +6 min

On Monday, Karikó, along with her collaborator Drew Weissman, won the Nobel Prize in Physiology and Medicine. It's clear, and impressive, that Karikó didn't take those obstacles personally. Suhadolnik didn't receive the news well, she says. If you have a Ph.D. from an American Ivy League [university], that's better compared to if you have a degree from a foreign university." The type of work Karikó does, Feigl-Ding says, doesn't make splashy headlines, because groundbreaking work rarely does.

Persons: Pfizer Covid, Katalin, Drew Weissman, Karikó, didn't, Robert J, Suhadolnik, Susan, Suhadolnik didn't, Gregory Zuckerman's, I'm, wasn't, Eric Feigl, Ding, doesn't, Nobel, Albert Einstein didn't, Ding epidemiologist, Weissman Organizations: Pfizer, Moderna, CNBC, University of Pennsylvania, University of Szeged, Biological Research, Temple University, Uniformed Services University of, Health Sciences, New, Systems Institute, Harvard Medical School, American Ivy League, Universities, Systems, Harvard Medical Locations: Hungary, Philadelphia, Bethesda , Maryland, UPenn, United States, U.S, New England

☆ Soaring Treasury yields ignite turbulence throughout markets
▼ + stars: | 2023-10-05 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. Higher Treasury yields can curb investors' appetite for stocks and other risky assets by tightening financial conditions as they raise the cost of credit for companies and individuals. With some Treasury maturities offering far above 5% to investors holding the bonds to term, rising yields have also dulled the allure of equities. Reuters GraphicsWith Treasury yields surging, credit market spreads have widened as investors demand a higher yield on riskier assets, such as corporate bonds. The MOVE index (.MOVE), a measure of expected volatility in U.S. Treasuries, has surged to a 4-month high, signaling expectations for continued Treasury market ructions.

Persons: Andrew Kelly, That's, Saqib Iqbal Ahmed, Davide Barbuscia, Ira Iosebashvili, Nick Zieminski Organizations: United States Department of, Washington , D.C, REUTERS, Treasury, Federal Reserve, Bank of America Global Research, Reuters, Traders, Reuters Graphics, Silicon Valley Bank, Signature Bank, Thomson Locations: Washington ,, U.S, Silicon

☆ Opinion | New York City Needs Big Ideas and Leaders Willing to Try Them
▼ + stars: | 2023-08-05 | by ( The Editorial Board | ) www.nytimes.com time to read: +1 min

People like to write off New York City, and time and again, this city proves them wrong. It’s never been magic, however — the resurrection of the greatest city in the world has always required grit and ingenuity, backed by its political, business and civic leadership exerting a will to match the moment’s greatest problems. The labor market is strong, and by this spring, New York’s economy had recovered more than 99 percent of the jobs it lost during the pandemic. Tourism is booming, and the city expects to receive more than 63 million visitors this year. Much of that flight appears to be among the city’s wealthiest residents, further weakening its coffers.

Persons: It’s, — aren't Organizations: Times, Citizens Budget Commission, Midtown, Broadway Locations: New York City, Tourism, Midtown Manhattan

LONDON, June 30 (Reuters) - The economic pain of higher interest rates seems duller than many had braced for only late last year - and subdued household debt burdens may be at least partly responsible. More interest rate sensitive countries with more flexible loan rates - such at Canada, Australia and Sweden - are already turning higher. What's more, the overall impact of higher borrowing rates is partly offset by rising interest rates on savings. And so net of interest income, JPMorgan points out, interest costs are up only 0.2 percentage point of disposable personal income since the start of the Fed hiking cycle early last year. Higher costs are still coming with a lag for many and will drag on the economies further from here.

Persons: Jerome Powell, JPMorgan's Joseph Lupton, Maia Crook, Lupton, Crook, it's, Mike Dolan, Alison Williams Organizations: Federal Reserve, JPMorgan, Reuters, Twitter, Thomson Locations: Canada, Australia, Sweden, Britain, Central

☆ Translating Tolstoy While Inciting Revolution
▼ + stars: | 2023-06-28 | by ( Jennifer Wilson | ) www.nytimes.com time to read: +3 min

Over time, Garnett’s detractors would make her out to be a prim and proper smotherer of the wild (male) Russian soul. In Russia, the abolition of serfdom was part of a series of reforms meant to stave off revolution. Stepniak wrote a profile of Zasulich for his book “Underground Russia” (1882), a study of the country’s new revolutionaries. In England, “Underground Russia” was a smash hit, going through three printings the year it was translated. In a 1991 biography of Constance, Richard Garnett, the pair’s grandson, writes that “the young lovers had a row about Land Nationalization.”

Persons: prim, Nabokov, Gogol, “, Kornei Chukovsky, Garnett, Stepniak, ”, uncouth, Constance Black, Alexander II, Ivan Turgenev’s, Vera Zasulich, Zasulich, Russia ”, Clementina, Eleanor Marx, Karl’s, William Morris’s, Edward Garnett, Edward, Constance, Richard Garnett Organizations: British Museum, Russia, Fabian Society Locations: Russian, Soviet, Crimean, Russia, Brighton, St . Petersburg, Europe, England, London

☆ Wall Street rallies, dollar softens after solid economic data
▼ + stars: | 2023-06-27 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermidNEW YORK, June 27 (Reuters) - U.S. stocks moved sharply higher in a broad rally on Tuesday, and the dollar softened as robust economic data eased recession fears and stoked investors' risk appetite. "The economic data today was particularly strong," said Thomas Martin, senior portfolio manager at GLOBALT Investments in Atlanta. Emerging market stocks rose 0.58%. U.S. Treasury yields edged higher as solid economic data calmed recession jitters. Crude prices slid after U.S. economic indicators surprised to the upside, ahead of energy demand data expected later in the session.

Persons: Brendan McDermid, Thomas Martin, Martin, Jerome Powell's, Christine Lagarde, Lagarde, Brent, Stephen Culp, Elizabeth Howcroft, Chizu Nomiyama, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Nasdaq, U.S, GLOBALT Investments, Financial, European Central Bank, ECB, Dow Jones, Japan's Nikkei, Treasury, Thomson Locations: New York City, U.S, Atlanta, China, Asia, Pacific, Japan, London

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