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A hot pink Barbie flip phone is launching this summer
  + stars: | 2024-02-25 | by ( Ryan Browne | ) www.cnbc.com   time to read: +2 min
The company behind Nokia-branded smartphones, HMD, short for Human Mobile Devices, says it is launching a Barbie flip phone this summer, in partnership with toy maker Mattel . Soon, you'll be able to get a flip phone from the blockbuster toy franchise. It won't be connected to the internet, making it a throwback to the "dumb phones" of yesteryear before smartphones became popular. The device looks like a standard flip phone with buttons rather than a touch screen, and comes in a hot pink color, resembling the iconic pink flip phone accessory that comes with many Barbie dolls. This is a step away from Nokia which is the brand HMD typically has used to sell its dumb phones and smartphones.
Persons: you'll, Lars Silberbauer, Barbie, HMD, Margot Robbie, Ryan Gosling, Will Ferrell Organizations: Mattel, Nokia, Mobile Devices, YouTube, HMD, Mobile, Microsoft Locations: U.S
Houthi militants have launched attack drones and cruise and ballistic missiles at vessels in the Red Sea and the Gulf of Aden. The United States and Britain carried out another round of large-scale military strikes Saturday against multiple sites in Yemen controlled by Houthi militants, U.S. officials said. On Monday, Houthi militants fired two anti-ship ballistic missiles at a cargo ship, U.S. Central Command said in a statement. The ship, called the Sea Champion, continued on to its destination at the port of Aden in Yemen, the statement added. The American-led retaliatory air and naval strikes against Houthi targets began last month.
Persons: , Houthi, Mason, Lloyd J, Austin III Organizations: Houthi, British, Defense Department, Associated Press, , Yemeni Armed Forces, U.S ., U.S . Central Command, Central Command, Command, Iranian Locations: Aden, The United States, Britain, Yemen, Iran, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, “ U.S, U.S, Red Sea, Palau, Gaza, Israel, United States, Africa, Iraq, Syria, Saudi Arabia
Can a Tech Giant Be Woke?
  + stars: | 2024-02-25 | by ( Noam Scheiber | ) www.nytimes.com   time to read: +1 min
The December day in 2021 that set off a revolution across the videogame industry appeared to start innocuously enough. “My friend called me crying, saying, ‘I just lost my job,’” recalled Erin Hall, one of the testers who stayed on. “None of us saw that coming.”The testers conferred with one another over the weekend and announced a strike on Monday. Just after they returned to work seven weeks later, they filed paperwork to hold a union election. Raven never rehired the laid-off workers, but the other testers won their election in May 2022, forming the first union at a major U.S. video game company.
Persons: Raven, , ’ ”, Erin Hall Organizations: Activision Blizzard Locations: Wisconsin, U.S
(Photo by Alexey Kudenko - Host Photo Agency via Getty Images)Western nations should be bolder about confiscating Russian assets which they froze after the country's full-scale invasion of Ukraine in 2022, British Prime Minister Rishi Sunak said. "We must be bolder in hitting the Russian war economy .... And we must be bolder in seizing the hundreds of billions of frozen Russian assets," he said . Last month British Investment Minister Dominic Johnson met U.S. Deputy Treasury Secretary Wally Adeyemo to discuss the seizure of frozen Russian assets, but stressed this needed to be done in accordance with international law. The European Union, U.S., Japan and Canada froze some $300 billion of Russian central bank assets in 2022 when Russia invaded Ukraine. Sunak also urged the U.S. to continue to provide financial and military support for Ukraine.
Persons: Alexey Kudenko, Rishi Sunak, Sunak, Dominic Johnson, Wally Adeyemo Organizations: Red, Getty Images, British, Sunday Times, U.S, European Union, Ukraine Locations: MOSCOW, RUSSIA, Moscow, Russia, Soviet Union, Ukraine, U.S, Japan, Canada, Russian
When Yulia Seleznyova walks around her home city in Russia, she scrutinizes everyone passing by in the hope that she will lock eyes with her son Aleksei. Russian authorities acknowledged dozens of deaths, though pro-Russian military bloggers and Ukrainian authorities estimated that the real number was in the hundreds. Aleksei was not recognized in the official death toll because not a single fragment of his body was identified in the rubble after the strike. Ms. Seleznyova was left with nothing to bury, and, she says, no closure. But it has also left a small shred of hope for a miracle.
Persons: Yulia Seleznyova, Aleksei, Seleznyova Organizations: U.S Locations: Russia, Ukraine, Ukrainian, Russian
Those gains could trigger a tax bill this season, depending on the size of the windfall, experts say. In 2023, home sellers made a $121,000 profit on the typical median-priced single-family home, according to ATTOM, a nationwide property database. Still, "the tax laws were written to encourage homeownership," and many sellers qualify for a tax break, Ringbauer said. Single homeowners can shield up to $250,000 of home sales profit from capital gains taxes and married couples filing jointly can exclude up to $500,000, provided they meet IRS eligibility. Who qualifies for the capital gains exemptionsThere are strict rules to qualify for the $250,000 or $500,000 capital gains exclusions, Ringbauer warned.
Persons: Witthaya, Miklos Ringbauer, Ringbauer, you've, There's, Assunta McLane Organizations: Summit Place Financial Locations: Los Angeles, Summit , New Jersey
Women may see greater health benefits from exercising regularly than men do, according to a recent study. DON'T MISS: Exercise 2-4x more than the HHS recommends to achieve maximum benefit, says new studyResearchers also found that women were able to see greater health benefits with less exercise than their male counterparts. Men who engaged in about five hours of moderate to vigorous exercise each week lowered their chances of dying by 18% in comparison to men who didn't. The reason why women may have stronger benefits from regular exercise than men isn't clear, though it's possible it boils down to differences in anatomy, the study's researchers told CBS News. Exercising regularly is great for heart health in general"I think the big message is physical activity helps to reduce cardiovascular mortality, period," Garg tells CNBC Make It.
Persons: Beteal, wasn't, Nadish, Garg Organizations: American College of Cardiology, HHS, University of Miami Miller School of Medicine, CBS News, Hermann, CNBC, U.S . Department of Health, Human Services Locations: UHealth, Houston
Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.
Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs
Alexa von Tobel realized the importance of being financially savvy at a young age, but she still wishes she'd learned more about money as a kid. Like most children in the U.S., von Tobel received "no formal education" on personal finance. "Appreciating that you can have your dollars work hard for you, and on behalf of you, is a really powerful concept," von Tobel says. 'A skill set that you need for your whole life'Given her success as a fintech founder and investor, von Tobel clearly mastered that particular financial lesson eventually. "That concept is very powerful," von Tobel says.
Persons: Alexa von Tobel, she'd, von Tobel, Von Tobel's, von Tobel's, von, Von Tobel Organizations: Harvard University, CNBC, Northwestern Mutual Locations: U.S
Change Healthcare's systems are down for a fourth straight day after parent company UnitedHealth Group disclosed that a suspected cybersecurity threat actor gained access to part of its information technology network on Wednesday. UnitedHealth, the biggest health-care company in the U.S. by market cap, owns the health-care provider Optum, which merged with Change Healthcare in 2022. Optum services more than 100 million patients in the U.S., according to its website, and Change Healthcare offers solutions for payment and revenue cycle management. ET Saturday, Change Healthcare said the disruption is expected to continue "at least" through the day. The AHA declined to comment on the Change Healthcare cyberattack.
Persons: UnitedHealth, We're, CISA Organizations: UnitedHealth Group, Healthcare, U.S . Securities, Exchange Commission, CNBC, CVS Health, CVS, American Hospital Association, AHA, Department of Health, Human Services, FBI, Infrastructure Security Agency, HHS Locations: U.S
Microsoft offered to sell its Bing search engine to Apple in 2018, Google said in a court filing earlier this month. In the fourth quarter, Microsoft generated $3.2 billion from search and news advertising, while Google search and other revenue totaled $48 billion. Google said in its filing that when Microsoft reached out to Apple in 2018, emphasizing gains in Bing's quality, Microsoft offered to either sell Bing to Apple or establish a Bing-related joint venture with the company. Google said Apple CEO Tim Cook sent an email to Apple executives about the assessment of Bing, but his remarks are redacted in the filing. Cue testified that "if Apple did not receive the massive payments it sought from Google, Apple would have developed its own search engine," the Justice Department asserted in its filing.
Persons: Tim Cook, Eddy, Apple's, Bing, Apple, Satya Nadella, Rob Sanderson Organizations: Apple, Allen, Co . Media, Technology Conference, Microsoft, Google, U.S . Justice Department, Bing, Safari, Justice Department, Windows, MSN, Department, Bloomberg Locations: Sun Valley , Idaho
The US Army would play a pivotal role should conflict arise in the Pacific, a top general told Business Insider. While maritime and air power are vital, the US Army and its allies "bind the region together." NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It is a Joint theater, with joint challenges, that require both Joint and multinational solutions!" USARPAC is the Army's largest theater army and covers the Army's largest region of operation, making its involvement in the area critical should war unfold.
Persons: , Charles Flynn, USARPAC, Flynn, Molly Treece, China's, Keon Horton Organizations: US Army, Business, Service, US Army Pacific, Pentagon, East China, Paratroopers, 2nd Infantry Brigade Combat Team, 11th Airborne Division, Boeing, Donnelly Training, Delta Junction, U.S, Army, Pacific Command, 3rd Battalion, 509th Parachute Infantry Regiment, Pacific Multinational Readiness Locations: Pacific, China, Wainwright, Fairbanks , Alaska, Taiwan, South, East, Delta, AK, Alaska, Hawaii
The tech sector is having a big 2024. Hotter-than-expected inflation data may also keep the Fed from cutting rates as soon as the market expects, a sign that the economy remains strong enough to support tighter monetary policy for longer. It's a different story for tech workers, though. The number of tech sector layoffs in 2024 has been outpacing the number of terminations in 2023. So far, about 42,324 tech employees were let go in 2024, according to Layoffs.fyi, which tracks layoffs in the tech industry.
Persons: Jeff Shulman, There's, haven't, they've Organizations: Nvidia, University of Washington's Foster School of Business, Companies Locations: U.S
The Cost of Nuclear War in Space
  + stars: | 2024-02-24 | by ( Ephrat Livni | Vivienne Walt | ) www.nytimes.com   time to read: +1 min
Just before the Russian-Ukrainian war reached its two-year milestone today, U.S. intelligence agencies warned that Russia might aim a nuclear weapon at an unusual target: not any place on Earth, but satellites orbiting in space. It’s also a risk to the space economy — and the one on the ground. There is a little-known but fast-growing industry that insures satellites, but it doesn’t provide insurance against nuclear arms. What’s at stake: hundreds of billions (and probably trillions) of dollars when including the services that rely on satellites, according to David Wade, an underwriter at the Atrium Space Insurance Consortium, which insures satellites for Lloyd’s. The Russian weapon is said to be designed to target satellites in low Earth orbit, where most commercial satellites operate.
Persons: It’s, What’s, David Wade Organizations: Atrium Space Insurance Consortium, NASA Locations: Russian, Russia
United Airlines , American Airlines and JetBlue Airways are among the carriers that have raised the price to check bags this year. Earlier this week, American Airlines raised its checked bag fees for the first time in more than five years and adopted the two-tiered strategy that United, JetBlue and several budget airlines already have. American Airlines previously charged $30 for either service. Why are airlines raising baggage fees? Airlines have argued that higher costs such as labor and fuel, their biggest expenses, mean they had to raise bag fees.
Persons: Scott Olson, Barry Biffle, Biffle Organizations: O'Hare International, Getty, Getty Images Airlines, United Airlines, American Airlines, JetBlue Airways, United, JetBlue, CNBC, Frontier, Transportation, Airlines Locations: Chicago, North America
In solemn ceremonies and small vigils, state visits, stirring speeches and statements of solidarity, Ukraine and its allies marked the dawn of the third year of Russia’s unprovoked invasion with a single message: Believe. “When thousands of columns of Russian invaders moved from all directions into Ukraine, when thousands of rockets and bombs fell on our land, no one in the world believed that we would stand,” said Gen. Oleksandr Syrsky, Ukraine’s newly named top military commander. “No one believed, but Ukraine did!”On the 731st day of the war, Ukrainian soldiers once again find themselves outmanned and outgunned, fighting for their nation’s survival while also trying to convince a skeptical world that they can withstand the relentless onslaught, even as they suffer losses on the battlefield and are challenged up and down the front line by Russian forces. The leaders of Canada, Belgium and Italy, as well as the head of the European Union, Ursula von der Leyen, were among the dignitaries who traveled to Kyiv in a show of solidarity. While many analysts at the outbreak of the war believed that European nations would go wobbly in their support of Ukraine in a prolonged struggle, these countries are now stepping up, trying to help fill the void left by the U.S., where Republicans in Congress have for months blocked any new military assistance to Kyiv.
Persons: , Oleksandr Syrsky, , Ursula von der Leyen Organizations: Russian, European Union Locations: Ukraine, Canada, Belgium, Italy, Kyiv, U.S
Wall Street returned to its winning ways this week — and Nvidia 's blowout earnings report Wednesday night was a big reason why. Twenty-six of our 32 portfolio stocks have delivered their results this earnings season (we didn't own Abbott Labs at the time of its report). It was a muted week for macroeconomic data, but we did get a slightly better-than-expected January existing home sales report on Thursday. In the week ahead, two more Club names are set to report earnings before a market-moving economic update arrives Thursday morning. The two other reports of note are the January new home sales report on Monday and ISM Manufacturing report on Friday.
Persons: Dow, we'll, bode, We're, Li Auto, Krystal, Arcutis, MARA, Iovance, Goldman Sachs BDC, CRON, BUD, Papa, LEV, Ginkgo, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nvidia, Nasdaq, Dow Jones, Dow, Palo Alto Networks, Bausch Health, Coterra Energy, Abbott, Companies, TJX, Marshalls, TJX Companies, Berkshire Hathaway, Krystal Biotech, Alpha Metallurgical Resources , Inc, Fidelity National Information Services Inc, Animal Health, ELAN, Public Service Enterprise Group, Surgery Partners, BioCryst Pharmaceuticals Inc, Outdoor Holdings, Enlight Renewable Energy Ltd, Kosmos Energy, Playtika, Video Communications, TiRobot Corp, IRB, SBAC Communications Corporation, HEICO Corporation, FS KKR, Archer Aviation Inc, TransMedics, Sterling Construction Company, AES, Cruise Line Holdings, Lowe's Companies, American Electric Power Company, Bank of Nova, APLS Pharmaceuticals, Bank of Montreal, BMO, Devon Energy, Solar Inc, Technologies, Lab, Virgin Galactic Holdings, Splunk Inc, eBay, EBAY, Luminar Technologies, Agilent Technologies, G Foods, Masimo Corp, Baidu, Parts Inc, Icahn Enterprises, Viatris Inc, ACM Research, Golden Ocean Group, EMCOR, Industries, NRG Energy, Dycom, Editas, UWM Holdings Corporation, Vistra Energy, Marathon Digital Holdings, AMC Entertainment Holdings, Paramount Global, IonQ Inc, International, HP, Monster Beverage Corporation, Cronos, Birkenstock Holding, Anheuser, Busch InBev, Body, Brink's Company, Flags Inc, Papa John's, ACI, Hormel, Lion Electric Company, BlackRock TCP, Dole plc, DOLE, Fisker Inc, Dell Technologies, Ginkgo Bioworks Holdings, Autodesk, Green Brick Partners, Hewlett Packard Enterprise, Veeva Systems, INTTEST Corporation, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: New York City, U.S, Salesforce, Maxx, Bank of Nova Scotia, BlackRock, Cayman
Warren Buffett and Charlie Munger at press conference during the Berkshire Hathaway Shareholders Meeting in Omaha, Nebraska, April 30, 2022. Berkshire Hathaway 's Warren Buffett said his sprawling conglomerate may only slightly outperform the average American company due to its sheer size and the lack of buying opportunities that could make an impact. The 93-year-old Buffett said Berkshire's group of diversified, quality businesses should provide "slightly better" performance than the average U.S. company, but anything more than that is unlikely. 'With our present mix of businesses, Berkshire should do a bit better than the average American corporation and, more important, should also operate with materially less risk of permanent loss of capital," Buffett said. "Anything beyond 'slightly better,' though, is wishful thinking."
Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Apple —, Buffett, Organizations: Berkshire, BNSF Railway, Apple, Oracle, Occidental Petroleum, Berkshire ., Mitsubishi, Mitsui, Sumitomo Locations: Omaha , Nebraska, Omaha, Dairy, Berkshire, Alleghany, U.S
The recent surge of migrants has put major cities across the U.S. under significant financial pressure. But experts say more federal assistance and funding are necessary to ensure that cities can survive the ongoing crisis. For instance, the $145 million allocated to New York City is less than 10% of what the city spent on migrant services in fiscal 2023, according to the Migration Policy Institute, a nonpartisan think tank. "These are complicated issues to manage, so the city, the state and the federal government, frankly, were not prepared for it." Watch the video above to see just how much financial pressure cities across the U.S. are facing due to the ongoing migrant crisis.
Persons: Biden, Simon Hankinson, Debu Gandhi, Muzaffar Chishti Organizations: The Heritage Foundation, The Center, American Progress, FEMA, Migration Policy Institute Locations: New York, Denver, Chicago, Washington ,, New York City, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhy the immigration crisis is bankrupting U.S. citiesThe ongoing migrant crisis is unprecedented, both in scale and the effect it has had beyond the border states to cities located deep within the country. Major cities such as New York, Denver and Chicago are finding themselves under extreme financial pressure, exacerbated by the lack of federal funding or assistance. So just how long can cities withstand the recent surge of migrants and what do they need to end the crisis?
Locations: U.S, New York, Denver, Chicago
The United States and Britain carried out another round of large-scale military strikes Saturday against multiple sites in Yemen controlled by Houthi militants, U.S. officials said. The strikes were intended to degrade the Iran-backed militants’ ability to attack ships in sea lanes that are critical for global trade, a campaign they have carried out for almost four months. American and British warplanes hit missile systems and launchers and other targets, the officials said. Australia, Bahrain, Canada, Denmark, the Netherlands and New Zealand provided support for the operation, according to a joint statement from the countries involved that was emailed to reporters by the Defense Department. The strikes, which the statement called “necessary and proportionate,” hit 18 targets across eight locations in Yemen associated with Houthi underground weapons storage facilities, missile storage facilities, one-way attack unmanned aerial systems, air defense systems, radars and a helicopter.
Persons: Organizations: Houthi, British, Defense Department Locations: States, Britain, Yemen, Iran, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand
Russia’s Brutal War Calculus
  + stars: | 2024-02-24 | by ( Paul Sonne | Josh Holder | ) www.nytimes.com   time to read: +7 min
Russia’s Brutal War Calculus Freedoms Wages The costs of two years of war in Ukraine have been enormous. Here is a look at how Russia at war has changed — suffering enormous costs by some metrics but faring better than expected by others. But Mr. Putin has convinced many that in invading Ukraine, Russia is defending itself against an existential threat from the West. Blood and TreasureIn the early months of the war, Mr. Putin’s military made grave mistakes, but it has regrouped. But despite their stated support for the war, many Russians would be happy for it to end.
Persons: languish, Instagram, Vladimir Putin, Putin, , , Putin’s, Aleksei A, Navalny Organizations: Daily Life People, Facebook, Travel, Trade, Russia, Military Locations: Ukraine, Russia, China, Soviet Union, India, Moscow, Europe, Turkey, Ukrainian
The U.S. F/A-18 fighter jets launched from the USS Dwight D. Eisenhower aircraft carrier, which is currently in the Red Sea, officials said. President Joe Biden and other senior leaders have repeatedly warned that the U.S. won't tolerate the Houthi attacks against commercial shipping. During normal operations, about 400 commercial vessels transit the southern Red Sea at any given time. The Rubymar, a British-registered, Lebanese-operated cargo vessel, was attacked while sailing through the Bab el-Mandeb Strait that connects the Red Sea and the Gulf of Aden. The Associated Press, relying on satellite images from Planet Labs PBC of the stricken vessel, reported Tuesday that the vessel was leaking oil in the Red Sea.
Persons: Dwight D, Lloyd Austin, Grant Shapps, Shapps, Joe Biden, haven't, We've, Sabrina Singh, we've, Mason, Abdul Malik al, Hope Organizations: US Coast Guard, US Central Command, U.S, Eisenhower, Defense, Yemeni Armed Forces, RAF, Islander, Hamas, Houthi, Aden , U.S . Central Command, Central Command, Khorfakkan, United, Command, Associated Press, Planet Labs PBC Locations: Iran, Yemen, Tampa , Florida, United States, U.S, Gulf of Aden, British, Red, Britain, Australia, Bahrain, Canada, Denmark, Netherlands, New Zealand, Gaza, Aden , U.S, Asia, Europe, Africa, Suez, Mandeb, Gulf, Aden, Palau, Belize, Lebanese, Bulgaria, United Arab Emirates
The Biden administration’s reversal of Trump-era policy on settlements in the occupied West Bank reflects not just its rising frustration with Israel, but the political bind the president finds himself in, just days before the Democratic primary in Michigan, where a large Arab American population is urging voters to register their anger by voting “uncommitted.”During a trip to Argentina on Friday, Secretary of State Antony J. Blinken called any new settlements “inconsistent with international law,” a break with policy set under the Trump administration and a return to the decades-long U.S. position. The Biden administration is increasingly fed up with the Israeli government’s conduct in the Gaza war and beyond, with officials speaking out more publicly on contentious issues, said Nimrod Novik, a fellow at the Israel Policy Forum think tank. As an example, he cited a U.S. decision to slap financial sanctions on four Israelis — three of them settlers — accused of attacking Palestinians in the West Bank at a time when settler violence against Palestinians has increased. Yet, Mr. Novik called Mr. Blinken’s remarks “too little, too late,” adding that the administration’s moves “in practice, are disjointed. The message is there, but it’s a tactical statement where the overall strategy is unclear.”
Persons: Trump, , Antony J, Blinken, , Biden, Nimrod Novik, , Novik, Blinken’s Organizations: Biden, Bank, Democratic, Israel, Forum, West Bank Locations: Israel, Michigan, Argentina, Gaza
Former President Donald J. Trump laid out what’s in store for America should he or President Biden win the 2024 presidential election, using a Saturday speech at the Conservative Political Action Conference to cast one nearly utopian vision of the country’s future and one reminiscent of a postapocalyptic movie. If Mr. Biden is re-elected for a second four-year term, Mr. Trump warned in his speech, Medicare will “collapse.” Social Security will “collapse.” Health care in general will “collapse.” So, too, will public education. America itself will face “obliteration.”On the other hand, Mr. Trump promised on Saturday that if he is elected America will be “richer and safer and stronger and prouder and more beautiful than ever before.” Crime in major cities? “Chicago could be solved in one day,” Mr. Trump said. “New York could be solved in a half a day there.”
Persons: Donald J, Trump, Biden, , ” Mr, Organizations: Conservative Political, Conference Locations: America, U.S, , Chicago, York
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