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Ten active major-league starting pitchers have won a Cy Young Award — and nine of them have spent time on the injured list in 2024. The issue is not only the health of the modern starting pitcher, but the role those starters play in the sport these days. “You’ve got to get the starting pitcher back. But has the starting pitcher crisis risen to that level? If you’re a dominating starting pitcher in this era, it probably means you throw harder than the average pitcher.
Persons: Tom Seaver, Steve Carlton, Sandy Koufax, Bob Gibson, Pedro Martinez, Randy Johnson, , Cy Young, Baltimore’s Corbin Burnes, Yu Darvish, Justin Steele, , Max Scherzer, “ You’ve, Patrick Mahomes, isn’t, that’s, weren’t, here’s, It’s, they’d, you’re, they’re, David Ortiz, Scherzer, Justin Verlander, Adam Wainwright, they’ve, , North America aren’t, I’ve, you’ve, ” Scherzer, Corbin Burnes, Patrick Smith, Rob Manfred, we’re, “ You’re, wouldn’t, it’s, “ that’s, He’s, Manfred, Eamonn Dalton, Conrad Williams , Jr, Matthew Grimes Jr Organizations: Cy, Wrigley, San Diego Padres, Chicago Cubs, Cubs, Padres, Major League Baseball, Texas Rangers, NFL, Athletic, MLB, American League, of Fame, didn’t, Atlantic League, Red Sox, National League, North America, Orioles, Newsday, Getty Images, Atlanta Braves, Getty
He’s jumping, along with all the other Republicans in moral free fall. “Supporting a man McConnell has clearly deemed unfit for the office may make McConnell craven, cynical or absurd, but he’s not alone in his decision.” Far from it. Christie at least isn’t supporting Trump. And it’s a reason that he can hold his head higher than Sununu, Barr or McConnell can. I’m asking Christie to remember that less than six months ago, he called Trump “a dictator.” And seemed to believe that.
Persons: Sununu, Trump, Matt Lewis, Barr, Mitch McConnell, Shocker, McConnell, , ’ ” Lewis, McConnell craven, he’s, Christie, Biden, ” I’m, Organizations: Daily, Republican, Trump, Republicans Locations: America, Chicago, United States
Read previewA British auction house has been criticized after listing 18 human skulls from ancient Egypt. But experts have raised objections, and have asked for a review of laws around the sale of human remains. This latest episode offers a window into the strange trade in human remains, which is legal in many places worldwide. The shrunken head problemVan Broekhoven has had to grapple with the issue of handling human remains in museum collections. The Pitt Rivers Museum has a collection of shrunken heads — some human — along with other human remains, which were taken off display in 2020.
Persons: , Dan Hicks, Hicks, Augustus Henry Lane Fox, Pitt Rivers, Semley Auctioneers, Laura Van Broekhoven, Van Broekhoven, there's Organizations: Service, Business, Pitt Rivers Museum, Augustus Henry Lane Fox Pitt Rivers, Oxford University Locations: Egypt, Thebes, Benin, Augustus Henry Lane Fox Pitt, Indonesian
Read previewIn a blow to former President Donald Trump's prospects in his upcoming Manhattan felony trial, the judge ruled Monday that jurors can hear about a Trump Tower meeting where prosecutors say Trump was physically present as hush money was discussed. News of the August 2015 meeting and Trump's involvement was first revealed in November 2018 by The Wall Street Journal. The Trump Tower meeting is key to understanding that allegation, Merchan wrote. Prosecutors allege the 2015 Trump Tower meeting involved discussions of how the supermarket tabloid could publish flattering stories about Trump and negative stories about his opponents, the judge wrote. Advertisement"The Court grants the People's motion with respect to the introduction of evidence surrounding the Trump Tower Meeting," he wrote.
Persons: , Donald Trump's, Trump, Stormy Daniels, Karen McDougal —, Michael Cohen, Daniels, McDougal, Cohen, David Pecker, Juan Merchan, Merchan, Pecker Organizations: Service, Trump, Wall Street, Business, CNN, American Media Inc, National Enquirer, Prosecutors, AMI Locations: Manhattan
Please note, that Abbott Laboratories is not listed below as we did not own the name before the company's earnings release. Meta Platforms had one of the best earnings reports of the entire season, as sales, earnings, and cash flow trounced expectations. Despite missing earnings expectations, Coterra Energy delivered where it matters most: discretionary and free cash flow. Honeywell 's earnings results weren't great, with sales missing across the board and segment profit results coming up mixed. Given the stock's reaction, one might wonder why we don't think the earnings results from Palo Alto Networks were flat-out ugly.
Persons: we've, Eaton, Eli Lilly, Mounjaro, Bausch, Estee Lauder, Fabrizio Freda's, Linde, shouldn't, Morgan Stanley, Procter & Gamble, Stanley Black, Decker, We're, Wells Fargo, Nikesh Arora, Palo, they've, Locker, Jim Cramer's, Jim Cramer, Jim, Satya Nadella, Nadella, SeongJoon Cho Organizations: Abbott Laboratories, Wall, GE Healthcare, Meta, Microsoft, Investors, Nvidia, Wynn Resorts, Pharmaceuticals, Broadcom, Coterra Energy, Disney, Federal Deposit Insurance Corporation, Procter &, TJX, Google Services, Constellation Brands, Costco Wholesale, Costco, DuPont, Honeywell, Palo Alto Networks, Palo Alto, Management, Jim Cramer's Charitable, CNBC, Bloomberg, Getty Locations: U.S, Ford, China, Macao, Las Vegas, Boston, Wells Fargo underdelivered, Seoul
CNN —The South Carolina Republican presidential primary is usually the most important contest of the nominating season. Since 1980, the only Republican to win the nomination without winning South Carolina was Mitt Romney in 2012. While Haley is unlikely to take South Carolina, she is definitely outperforming her national baseline. Both counties have relatively high levels of college graduates, who have been most hostile to the former president in GOP primaries historically. Trump winning college graduates in the South Carolina primary would match what we’re seeing in national polling of the Republican electorate.
Persons: Mitt Romney, Nikki Haley’s, Donald Trump, Haley, Bernie Sanders ’, Trump, Marco Rubio, Ted Cruz, John Kasich, didn’t, Will Organizations: CNN, South Carolina Republican, GOP, Republican, South Carolina, Trump, Republicans, Marquette University Law School, Quinnipiac University, South Carolina Republicans, Iowa GOP, Marquette, Quinnipiac, White Locations: Michigan, Florida, South Carolina, Ted Cruz ( Texas, John Kasich ( Ohio, Sanders, Vermont, Charleston, Richland, Columbia, Iowa, New Hampshire, Quinnipiac, Utah, Washington
LOS ANGELES (AP) — Thousands of fans watching Tiger Woods in his 2024 debut missed out on the best golf Thursday at the Genesis Invitational. In the group ahead of Woods was Patrick Cantlay, looking as though he wants to be the next Southern California native to win at Riviera. Cantlay opened with three birdies in four holes and never really slowed until a sycamore tree halted his great run. “Jordan and I were a bunch under on the front nine and a day where I putted really, really well. That shank was a shocker, and perhaps more concerning was Woods saying his back was acting up int the final hour, leading to the shank.
Persons: Tiger Woods, Woods, Patrick Cantlay, Jason Day, Luke List, Cam Davis, Jordan Spieth, Justin Thomas, Sam Burns, Rory McIlroy, Cantlay —, Spieth, , ” Cantlay, “ Jordan, “ I've, Max Homa, John Merrick, shocker, ” Woods, , ” McIlroy, McIlroy, Scottie Scheffler, Scheffler, steadied, ___ Organizations: ANGELES, Riviera, ricochet, Virginia Country Club, UCLA Locations: Southern California, Cantlay, Australia, LA, Bay Hill
Imran Khan’s stunning performance in Pakistan’s national election has upended most traditional political forecasts in a country where leaders who run afoul of the powerful military rarely find electoral success. Here’s what to know about the uncertainty now hanging over Pakistan’s political system. Mr. Khan’s supporters are challenging the results of dozens of races in the country’s courts, and pressure is growing on Pakistan’s Election Commission to acknowledge the widely reported irregularities in the vote counting. Backers of Mr. Khan say they will hold peaceful protests outside election commission offices in constituencies where they contend the rigging took place. Protests have already erupted in several parts of the country, especially in the restive southwestern Baluchistan Province.
Persons: Imran Khan’s, Khan, What’s, Khan’s Organizations: Mr Locations: Baluchistan Province
Tesla's board is at a crossroads after a hefty pay plan for Elon Musk was rejected, analysts said. After the Delaware ruling, Musk announced a shareholder vote to move Tesla's incorporation to Texas. AdvertisementTesla's board has its work cut out for it following a judge's surprise ruling against Elon Musk's massive payday, analysts said. "It now creates a tornado situation for Tesla's Board in the next move, with [Wall] Street closely watching this poker move and potential statement," the report said. "Musk is Tesla and Tesla is Musk," Dan Ives, managing director at Wedbush, told Business Insider.
Persons: Elon Musk, Musk, , Tesla, Kathaleen McCormick, Wedbush, Dan Ives, Ives Organizations: Elon, Tesla, Service, Wedbush Securities, Board, Company, Investors, Reuters Locations: Delaware, Texas, Tesla
How Jewish People Built the American Theater
  + stars: | 2023-11-29 | by ( Jesse Green | ) www.nytimes.com   time to read: +46 min
Let Us Tell You A Story How Jewish people built the American theater as we know it. The theater, which for many Jews was a major way of becoming American in the first place, seems unable to acknowledge that the danger that American Jews face is not just historical, and not just onstage. (Both of Adler’s parents were Yiddish theater stars — her father, Jacob Adler, was a renowned Shylock in 1903.) Embedding their own observation and experience within Stanislavsky’s, along with the best of Yiddish theater and a generous dollop of Freud, they converted the American theater to Judaism. Sara Krulwich/The New York TimesThe Jewish contribution to the creation of the American theater was built on the acknowledgment of a larger humanity alive within each of us, available to some, with natural empathy and rigorous training.
Persons: Glocca, , Lerner, Loewe, , Isidore Hochberg, Burton Lane, né Burton Levy, William Goldman, “ Killybegs, Sammy Davis Jr, Julie Andrews, Connie Francis, Rosemary Clooney, Tommy Dorsey, Davis, , Arthur Miller’s “, joyously, Jason Schmidt, Christine Jones, Miller, I’ve, Marilyn Monroe, Robert Brustein, Neil Simon’s, ” Cynthia Ozick, Sholom, Philip Roth, Simon, Leonard Bernstein, Matt Nadel, Bradley, Bernstein, “ Maestro, Shylock, William Shakespeare’s “, Venice ”, Shakespeare, Christopher Marlowe’s, Farah Karim, Cooper, Bard ”, “ Merchant, Tom Stoppard’s, Sara Krulwich, Ansky’s, Stella Adler, Bessie Berger, Clifford Odets’s, Arthur Miller, Elia Kazan, Francis Joseph Bruguière, Billy Rose, Eugene Smith, Roth, Arthur Schnitzler, Juliet Stevenson, Ruth Wolff, Lorraine Hansberry’s, Sidney’s, Alex Edelman’s “, Leo Frank, Bernard B, Frank, Mandy Patinkin, James Lapine, Stephen Sondheim’s, George, Martha Swope, outspokenness, creatives, Oscar Isaac, Sidney, “ Sidney Brustein, Isaac, Stevenson, Robert Icke, Roman Catholic Cooper, Rachel Brosnahan, Maisel, Joan Rivers —, Brosnahan, Sidney Brustein’s, Alec Guinness, Fagin, “ Oliver Twist, I’m, Micaela Diamond, Ben Platt, Lucille, Alfred Uhry, Jason Robert Brown’s, Rivers, Wolff, Robert, Republic ”, isn’t, LEE Strasberg, Konstantin Stanislavsky’s, Fyodor Ivanovich, Strasberg, Israel Strassberg, Zalmon, Srulke, Joseph Stein, Sheldon Harnick, Jerry Bock’s “, Bette Midler, Jackie Hoffman, Photofest Stanislavsky, Theater’s, Isaac Butler, Stanislavsky, Harold Clurman, George Bernard Shaw, Henrik Ibsen, Clurman, Adler, Jacob Adler, Freud, Rebecca Naomi Jones, Ruthie Rivkin, Jerome Weidman, Harold Rome’s “, John Weidman, disown Strasberg, Sanford Meisner, Bobby Lewis, , Marlon Brando, James Dean, Meisner, Robert Duvall, Lewis, Meryl Streep, Clifford Odets, Jacob Garfinkle, Jules Garfield, Odets, Sam Feinschreiber, Garfield, Ralph Berger, wasn’t, John, Tovah Feldshuh, Golda Meir, William Gibson’s, Aaron Epstein, exigencies, Bessie, Feinschreiber —, loveless, William Fox, Louis B, Mayer, Jack Warner, Marjorie Morningstar ”, Morgenstern, Marjorie, Natalie Wood, Anne Frank ”, Millie Perkins, Audrey Hepburn, Susan Strasberg —, Ibsen, Sholom Aleichem, August Wilson, Daveed Diggs, Thomas Jefferson, Lin, Manuel Miranda’s “ Hamilton ”, Adrian Lester, Emanuel Lehman —, Barbra Streisand, Marmelstein, George Silk, Miller’s, Sophie Okonedo, Elizabeth Proctor, Ben Whishaw, John Proctor, Jan Versweyveld, Don’t, — Bernstein, Stoppard, Schnitzler, Jeanine Tesori, Tony Kushner’s “ Caroline, Sharon D Clarke, Adam Makké, Noah Gellman, Leo, Stoppard —, Hermine, ” Leo Frank, there’s, Matthew Broderick, Eugene Jerome, it’s, Edelman’s, Queens bigots, David Yosef Shimon ben Elazar Reuven Alexander Halevi Edelman, Woody Allen, Joshua Harmon’s, — George Gershwin, Jerome Kern, Richard Rodgers, Porgy, Bess ”, Barns, Alex Edelman, Paula Vogel, Harvey Fierstein, Jordan Taylor Fuller, — that’s, Wendell Pierce, Friedman, Jacobs, Hirschfeld, Gershwin, Rodgers, PAULA VOGEL, BRANDON URANOWITZ, DAVID CROMER, MICAELA DIAMOND, TONY KUSHNER, Diamond, Monica Rich Kosann, Marco Bicego, JESSE EISENBERG, MATTHEW BRODERICK, AMY HERZOG, LESLIE RODRIGUEZ KRITZER, JOEL GREY, Herzog, Michael Kors, Kritzer, Marco, HARVEY FIERSTEIN, LIEV SCHREIBER, ETHAN SLATER, IDINA MENZEL, TINA LANDAU Organizations: Broadway, Broadway’s Lyceum, , of Venice, New York Times, Defamation League, New York Public Library, Performing, Vandamm, Billy, Billy Rose Theatre Division, Performing Arts, New, Jacobs, Empire State, Nazi, Goyim Defense, The New York Public Library, Roman Catholic, New York City, Street, Moscow Art, Group, Hollywood, Disney, Everett, The New York Times, Philadelphia, Brit, Times Locations: Poland, American, kilts, E.Y, Harburg, Kilkerry, Kildare, Philadelphia, New York, Polish, Massachusetts, Vichy, Biloxi, Venice, Malta, of, , Germany, playgoers, Sweden, England, United States, Pittsburgh, Nazi, Brustein’s, Greenwich, Georgia, Gutenberg, , Atlanta, Republic, New, Konstantin Stanislavsky’s Moscow, Russian, America, Moscow, Stanislavsky’s, Clurman, Eastern Europe, Czech, Austrian, Auschwitz, Heini, Southern, Brighton, Rivers, French Republic, “ Brigadoon
Nov 17 (Reuters) - The board of the company behind ChatGPT late on Friday fired OpenAI CEO Sam Altman - to many, the human face of generative AI - sending shock waves across the tech industry. Backed by billions of dollars from Microsoft (MSFT.O), OpenAI kicked off the generative AI craze last November by releasing its ChatGPT chatbot, which became one of the world's fastest-growing software applications. He was the face of OpenAI and the wildly popular generative AI technology as he toured the world this year. Altman posted on X shortly after OpenAI published its blog: "i loved my time at openai. "That said, we believe Microsoft and Nadella will exert more control at OpenAI going forward with Altman gone."
Persons: Sam Altman, Mira Murati, OpenAI, Altman, what’s, Murati, Tesla, Satya Nadella, Mira, Nadella, Eric Schmidt, Daniel Ives, Thomas Hayes, Davidson, Gil Luria, Samrhitha, Jeffrey Dastin, Anna Tong, Krystal Hu, Shounak Dasgupta, Kenneth Li, Richard Chang Organizations: Microsoft, Union, U.S, Reuters, OpenAI, Wedbush Securities, Economic Cooperation, Thomson Locations: openai, Asia, San Francisco, Oakland , California, Bengaluru, New York
Walmart CEO says food deflation may come soon
  + stars: | 2023-11-16 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —Lower grocery prices may soon be coming for shoppers. Food prices have increased 25% since the pandemic started. The pace of food inflation has slowed in recent months, but food prices are mostly still going up. Food prices rose 3.3% annually in October from a year ago, according to the latest reading from the Labor Department. If you think prices will go down in the future, you may delay making a lot of purchases today.
Persons: Doug McMillon, ” McMillon, CNN’s Elisabeth Buchwald Organizations: New, New York CNN, Walmart, Labor Department, Federal Reserve Locations: New York, United States, Japan
Learn moreThe final match of the Cricket World Cup semi-finals is up today, and you're just a few simple clicks away from a free South Africa vs. Australia live stream. Like Australia, South Africa (and everyone else) lost to India in the group stage, but the defeat to the Netherlands was a bit of a shocker. Where to watch free South Africa vs. Australia Cricket World Cup live streamAustralia is one of the only countries with a free Cricket World Cup live stream, courtesy of streaming service 9Now. You'll find today's free semi-final, South Africa vs. Australia, on the main 9Now channel - likewise, with Sunday's final. Watch South Africa vs. Australia.
Persons: 9Now, We've, we've, ExpressVPN Organizations: Cricket, Australia, Australia Cricket, ESPN Plus, Cricket World, Sky Sports Cricket, ESPN, Hulu, Disney Locations: Africa, Australia, India, South Africa, Netherlands, Australian, Watch, United States
Inflation in the United States has unquestionably cooled after hitting 40-year highs last year. Other key inflation gauges, the more comprehensive Personal Consumption Expenditures price index and the wholesale-focused Producer Price Index, have moderated as well. A spike in gas prices and other components such as persistently high shelter costs have kept inflation elevated. The locally owned Walnut Group restaurant company closed its venerable Mediterranean Restaurant (fondly called The Med), the French bistro Brasserie Ten Ten and the newer Italian entrant Via Perla. Courtesy Tim Romano PhotographyAlthough Brasserie Ten Ten had a nearly two-decade run before its closure, it was like starting a brand new restaurant, Hessel said.
Persons: Marlon Pando, White Lotus, Tony Hessel, he’s, Jerome Powell, Brandon Bell, , , Lydia Boussour, United States —, Pando, , Price, Frederic J . Brown, Mark Zandi, Chase Castor, hadn’t, Holly Wade, Peggy Romano, Romano, Brasserie, Tim Romano, Hessel, ” Hessel, you’ve, it’s Organizations: Minneapolis CNN —, Disney, Mexican Grill, White, Getty, Moody’s, National Federation of Independent, Washington Post, NFIB Research, shocker, Walnut Group, Via Perla Locations: Minneapolis, New Jersey, Boulder , Colorado, United States, Mexican, Austin , Texas, Alhambra , California, AFP, Marion , Kansas, , Walnut
‘Scary Movie 3’ at 20: Still Kills
  + stars: | 2023-10-20 | by ( Mariella Rudi | ) www.nytimes.com   time to read: +1 min
“Writing ‘Scary Movie 3’ was way harder than writing ‘Chernobyl,’” the Emmy-winning scribe Craig Mazin told British GQ last year. Even now, Mazin loves “Scary Movie 3,” as does Zucker, who considers it one of his three best movies. Franchises and tentpoles either don’t even try to beat the Oscar bait allegations anymore, or they commit to the bit so hard that it ricochets more than the car that went to outer space in “F9.”As the decade wore on, no one was safe from the onslaught of parodies, mostly with the word “Movie” in the title (“Not Another Teen Movie,” “Date Movie,” “Disaster Movie,” “Superhero Movie,” et al.). It’s fitting, then, that the franchise that single-handedly revived the genre would also deliver the final blow with “Scary Movie V” in 2013. Parody flicks have been dying a slow death ever since, and — shocker — “Scary Movie 3” might have been the killer all along.
Persons: Craig Mazin, Mazin, Pat Proft, Bob Weinstein, Zucker, Organizations: British GQ, Miramax Locations: British
Elon Musk tackled a wide range of topics during Tesla's third-quarter earnings call on Wednesday. The world's richest man and CEO of the electric-vehicle maker underscored the difficulties of scaling Cybertruck production, touted Tesla's Optimus humanoid robot over Boston Dynamics' mechanical dogs, and trumpeted his cost-cutting efforts, according to a transcript provided by AlphaSense/Sentieo. Tesla's Optimus robot appearing to do yoga. (Musk was describing Tesla's focus on cutting the cost of car parts by even a few cents.) Tesla is "not going to sink," says Elon Musk.
Persons: Elon Musk, Musk, , Elon, Oz, Marie Antoinette, Tesla's, that's, Tesla, they've, You've Organizations: Service, Boston Dynamics, AlphaSense, General Motors, Chrysler, Getty, Silicon Valley Bank, Suisse — geez Locations: Silicon
CNBC Daily Open: Look beyond the headline jobs number
  + stars: | 2023-10-09 | by ( Yeo Boon Ping | ) www.cnbc.com   time to read: +3 min
Joe Raedle | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayThe bottom lineThe number of jobs the U.S. economy added in September was so unexpectedly high that markets fell right on cue. Instead, the shocker of a jobs report said nonfarm payrolls increased by 336,000 last month, the most since January. After reeling from the shocking headline number, investors had time to digest the details in the report.
Persons: Joe Raedle, nonfarm, Stocks, Dante DeAntonio, Dow, It's Organizations: Tire, CNBC, shocker, Federal Reserve, Nasdaq, Treasury, Dow Jones Industrial, Moody's Locations: Miami , Florida, U.S, Israel
Lidya Jewett Photo: Universal Studios‘The Exorcist” reaffirmed two things we already knew—that adolescent girls seem possessed by demons and that the devil sends his minions to Washington. Yet William Friedkin (who died in August) directed the 1973 film, based on William Peter Blatty ’s novel, with so much gusto that it can’t be compared to anything that came before it. Both a prestige drama and a freak-show shocker, it was the first horror film nominated for the Best Picture Oscar. In inflation-adjusted dollars, it remains the ninth-highest-grossing picture of all time at the domestic box office, and the only R-rated film in the top 20.
Persons: Lidya Jewett, , William Friedkin, William Peter Blatty ’ Organizations: Universal Studios Locations: Washington
What a shocker in the September jobs report: 336,000 jobs created, way above the 170,000 expected. Here's the silver lining, though: The issue everyone is most concerned about is inflation, and wage inflation is continuing to moderate. It is curious that copper and even beaten-up gasoline and oil are higher since the jobs report at 8:30 a.m. Oil stocks such as Occidental Petroleum are up, even as Exxon is down on reports of its interest in buying Pioneer Natural Resources . I'm not trying to sugarcoat a jobs report that was a surprise to all of us.
Persons: I'm Organizations: Freeport McMoRan, Occidental Petroleum, Exxon, Natural Resources, Visa, Caterpillar
Cellnex’s Nordic towers sale is a good omen
  + stars: | 2023-09-29 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 29 (Reuters Breakingviews) - Marco Patuano is starting with a small but firm step. After years of M&A-fuelled expansion, the new CEO wants to return Cellnex to investment grade and focus on organic growth and efficiency. Cellnex shares shot up 4% Friday, adding 1 billion euros to the group’s market capitalisation. If Patuano can keep finding buyers for his assets, he may soon return his company to investment grade. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Persons: Marco Patuano, Patuano, Pierre Briancon, Lisa Jucca, Streisand Neto Organizations: Reuters, X, Thomson Locations: Italian
Jittery markets may tie Dutch insurers' hands
  + stars: | 2023-09-28 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 28 (Reuters Breakingviews) - Dutch insurers NN (NN.AS) and ASR (ASRNL.AS) have lost 3 billion euros of combined market value after court rulings in the Netherlands raised the prospect of large compensation claims. The respective 22% and 16% stock price collapse will put pressure on the two groups to reach a speedy resolution. But customers argue that the insurers marketing these policies failed to disclose how much of their premiums went to actual investments, and how much covered the sellers’ costs. Take Hague-based NN: it has 315,000 active woekerpolissen policies and 581,000 inactive ones, ING reckons. Its 2.1 billion euro market value loss is equivalent to a claim of 2,300 euros per policy.
Persons: Pamela Barbaglia, , quagmire, Neil Unmack, Streisand Neto Organizations: Reuters, ING reckons, JPMorgan reckons, Dutch, X, Thomson Locations: Netherlands, Ukraine
SoftBank’s AI dream team is far from iPhone killer
  + stars: | 2023-09-28 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Sept 28 (Reuters Breakingviews) - SoftBank Group’s (9984.T) Masayoshi Son, former Apple (AAPL.O) iPhone designer Jony Ive, and Sam Altman, boss of ChatGPT’s creator OpenAI, are forming a seemingly exciting alliance. SoftBank, which is flush with cash after the Arm IPO, is putting up over $1 billion into the project. Several Big Tech companies have tried to build consumer devices that imitate the popularity of the iPhone, without much success. And AI queries may drain mobile batteries quickly, as some iPhone users have discovered. It’s unclear what kind of device Son, Ive and Altman have up their sleeves.
Persons: Group’s, Son, Jony, Sam Altman, OpenAI, Altman, Karen Kwok, , quagmire, Neil Unmack, Oliver Taslic Organizations: Reuters, Apple, Financial Times, Big Tech, Counterpoint Research, Ericsson, X, Thomson Locations: Ukraine
Italy’s fiscal weakness toughens its green plight
  + stars: | 2023-09-28 | by ( ) www.reuters.com   time to read: +2 min
Italian Prime Minister Giorgia Meloni looks on, on the day of the state funeral of the former Italian President and senator, Giorgio Napolitano in Rome, Italy, September 26, 2023. Rome also cut its GDP forecasts to 0.8% and 1.2% over the next two years, from 1% and 1.5% before. The ballooning deficit is chiefly a result of ill-fated renovation incentives introduced by previous governments and amounting to some 140 billion euros, or 7% of Italy’s GDP. Record-high euro zone interest rates are also increasing the cost of servicing Italy’s mammoth debt, seen at 140% of GDP by year-end. The risk is that Rome's green transition becomes a victim of its fiscal challenges.
Persons: Giorgia Meloni, Giorgio Napolitano, Yara, Europe’s, Lisa Jucca, , quagmire, Neil Unmack, Streisand Neto Organizations: Italian, REUTERS, Reuters, X, Thomson Locations: Italian, Rome, Italy, Ukraine
Lululemon and Peloton truce removes one speed bump
  + stars: | 2023-09-28 | by ( ) www.reuters.com   time to read: +2 min
Yoga mats are seen on display in a Lululemon Athletica store in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly Acquire Licensing RightsTORONTO, Sept 28 (Reuters Breakingviews) - Lululemon Athletica (LULU.O) and Peloton Interactive’s (PTON.O) truce couldn’t have come fast enough. The apparel firm and exercise-bike maker said on Wednesday they entered into a five-year partnership to make Peloton the exclusive digital fitness content provider for Lululemon, while Lululemon would become Peloton’s primary athletic apparel partner. Peloton gains a foothold in apparel while Lululemon members will gain access to thousands of Peloton classes. It’s easy to envisage Lululemon offering Peloton subscriptions for a discount at checkout time, say, or for Peloton to send a free T-shirts with a bike.
Persons: Andrew Kelly, Lululemon, Sharon Lam, , quagmire, Lauren Silva Laughlin, Aditya Sriwatsav Organizations: REUTERS, Rights, Reuters, X, Thomson Locations: Manhattan , New York, U.S
Sanction shocker delays UBS valuation upgrade
  + stars: | 2023-09-27 | by ( ) www.reuters.com   time to read: +2 min
That’s one lesson from the $3 billion slide in market value for his bank UBS (UBSG.S) on Wednesday. The report says that the DOJ is launching a full-scale investigation into Credit Suisse, which UBS now owns after a state-backed rescue in March. UBS has about $6 billion of provisions set aside for legal and regulatory bills, suggesting shareholders are well protected against Credit Suisse’s historic nasties. After Wednesday’s slide, UBS’s share price is almost exactly in line with its most recent tangible book value per share, compared with a roughly 30% premium back in early March. The implication is that investors are less excited about UBS’s prospects after incorporating Credit Suisse than they were about its standalone story.
Persons: Sergio Ermotti can’t, Liam Proud, , quagmire, Neil Unmack, Oliver Taslic Organizations: Reuters, UBS, Bloomberg, U.S . Department of Justice, DOJ, Credit Suisse, Credit, X, Thomson Locations: Ukraine
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