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☆ Amy Yang wins maiden major on 75th attempt at Women’s PGA Championship
▼ + stars: | 2024-06-24 | by ( Jack Bantock | ) edition.cnn.com time to read: +3 min

CNN —If at first you don’t succeed, try, try again. Or if you’re Amy Yang, try 75 times to win your first major – ending an almost two-decades wait – after the South Korean golfer survived a late scare to win the Women’s PGA Championship in Washington on Sunday. In 74 prior major starts, she had finished inside the top-10 on 21 outings, and twice as a runner-up at the US Women’s Open in 2012 and 2015. Stanford is the sole player to have waited longer for their first major than Yang, and only just: the American triumphed on her 76th attempt. “At one point I thought, ‘Will I ever win a major championship before I retire?’” Yang said.

Persons: don’t, Amy Yang, Yang bogeyed, stokes, Ko Jin, American Lilia Vu, “, ” Yang, Jan, Meierling, caddie, Ezra Shaw, Yang, Angela Stanford, ‘ Will, ’ ” Yang, ” Victory, Korda, Nelly Korda, Lexi Thompson, Gerald Herbert, ” Korda, “ I’m Organizations: CNN, South, Sahalee Country, LPGA, US, Evian, Stanford, ”, Paris Olympics, Games, Getty, Meijer, Chevron, St Locations: South Korean, Washington, American, Rio, France, Andrews, Scotland

☆ Kenya confronts trail of rape accusations and abandoned children against UK soldiers
▼ + stars: | 2024-06-17 | by ( Larry Madowo | ) edition.cnn.com time to read: +11 min

Marian is among a group of mixed-race children whose mothers say they were conceived after rape by British soldiers training in Kenya. Mixed-race children continue to be born in the remote villages where the British Army trains its soldiers in Kenya. One of the more contentious accusations against British soldiers involves the case of Agnes Wanjiru. Allegations of rape and other crimes, including murder, by British soldiers deployed there date back to the 1950s. The UK investigators did not conduct DNA tests on any of the 69 mixed-race children alleged to have been born from rape by British soldiers.

Persons: Marian Pannalossy, “, ”, You’re, ’ ” Marian, Marian, Lydia Juma, ” Juma, ’ Marian, ’, Generica, Nicole, Namoru, Festo Lang, CNN Juma, BATUK, Agnes Wanjiru, hasn’t, Wanjiru’s, King, Marian Mutugi, Martyn Day, Ntoyie Lenkanan, CNN “, Saitet, nosedived, Kelvin Kubai, ” Kubai, Generica Namoru, “ I’m, It’s, “ It’s, We’re, ” Mutugi Organizations: Kenya CNN, CNN, British Army, British Army Training Unit, Defense, Intelligence, Foreign Relations, National, British, Kenyan, British High Commission, The Defense, Kenya National Commission, Human Rights, Britain’s Ministry of Defense, Royal Military Police, Reconciliation, Human Rights Commission Locations: Archer’s, Kenya, Archer’s Post, Nairobi, British, Samburu, Nanyuki, Britain, East, Laikipia, London, DolDol

☆ Markets worry Treasury yields could jump back to levels that sparked chaos last October
▼ + stars: | 2024-05-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

The benchmark 10-year Treasury yield is hovering below levels that caused a massive crash last fall. Yet, persistent inflation and weak Treasury auctions could boost yields past the 5% mark. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. That's why Treasury auctions have become attention-grabbers for markets, as investors watch to see if there are enough willing buyers. The dangers of 5%When 10-year yields broke through the 5% mark last fall, traders panicked and the S&P 500 nosedived nearly 6% from October's peak-to-trough.

Persons: —, That's, Treasurys, Bill Gross, Ed Yardeni, Eric Sterner, Yardeni, hasn't, they're, Goldman Sachs, Sterner Organizations: Service, Treasury, Business, Treasury Department, Federal, Yardeni Research, Investment, SEI, Apollon Wealth Management

☆ Donald Trump's Truth Social has crashed 70% from its peak — and experts say the meme stock may fall further
▼ + stars: | 2024-04-17 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Donald Trump's meme stock has plunged by 70% from its peak last month. Trump Media & Technology Group, which owns Truth Social, soared after it went public. AdvertisementDonald Trump's meme stock skyrocketed in March but has now crash-landed. Advertisement"Given Donald Trump's substantial fanbase, particularly during election cycles, he could wield significant influence over specific stocks, such as Truth Social stock," he said. The sharp rise in Truth Social price will definitely be a short-run phenomenon because it is not fully backed by fundamentals."

Persons: Donald Trump's, —, Donald, Trump, Michele Costola, Costola, Imran Yousaf, Warren Buffett, Yousaf, it's, TMTG, they'll, Devin Nunes Organizations: Trump Media & Technology Group, Service, Bloomberg, Foscari University of Venice, Kean University, GameStop Locations: Tuesday's

☆ Donald Trump crashes out of the Bloomberg rich list due to his meme stock nosediving
▼ + stars: | 2024-04-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

TMTG stock has plunged 53% from its intraday peak two weeks ago, slashing Trump's net worth. AdvertisementDonald Trump has crashed out of the ranks of the world's 500 wealthiest people after the value of his meme stock nosedived. The former president has fallen off the Bloomberg Billionaires Index as his net worth has dropped below the $5.8 billion required to make the cut. AdvertisementTMTG shares hit an intraday high of $79 on March 26, valuing Trump's stake at close to $6.3 billion. That's still more than 1,200 times the $4.1 million of revenue it earned last year, which fueled a net loss of $58 million for Truth Social's parent company.

Persons: Donald Trump, —, Forbes, Trump, George Soros, Mark Cuban, Giorgio Armani, Reed Hastings, Bernie Marcus, Ralph Lauren, TMTG Organizations: Service, Bloomberg, Trump Media & Technology, TMTG, Paramount, Etsy, Hasbro, American Airlines Locations: Monday's

☆ South Korean city turns to matchmaking to boost low birth rates
▼ + stars: | 2023-11-27 | by ( Soo-Hyang Choi | ) www.reuters.com time to read: +3 min

They were participants at a mass blind-dating event hosted by Seongnam city, an attempt by the local government to reverse a falling birth rate in a country where the popularity of marriage and enthusiasm towards parenthood have nosedived. Jung Jae-hoon, a professor at the department of social welfare at Seoul Women's University, said it was "nonsense" to expect these events to lead to higher birth rates. "You need to spend more money directly on supporting pregnancy, child delivery and parenting to call it a policy to boost birth rates," Jung said. Despite criticism, thousands of people have signed up for this year's blind-dating events arranged by the Seongnam city. "Low birth rates cannot be resolved with a single policy," Shin said.

Persons: Lee Yu, Hwang Da, Hwang, Jung Jae, Jung, Shin Sang, Shin, It's, Soo, hyang Choi, Daewoung Kim, Josh Smith, Stephen Coates Organizations: Seongnam, Organisation for Economic Co, Development, Seoul Women's University, Minwoo, Thomson Locations: SEONGNAM, South Korea, Seoul, Korean, United States, Japan, Seongnam

[1/3] Chinese Premier Li Qiang (R) and French Foreign Minister Catherine Colonna shake hands at the Great Hall of the People in Beijing, China on November 24, 2023. Jade Gao/Pool via REUTERS Acquire Licensing RightsBEIJING/PARIS, Nov 24 (Reuters) - French Foreign Minister Catherine Colonna is set to meet the Chinese leadership in Beijing on Friday as she seeks to soothe ties after the launch of a European Union anti-subsidy probe backed by Paris into Chinese-made electric vehicles. France is also concerned about Chinese attempts to force French cosmetics companies to share manufacturing secrets with Chinese parties. Xi insisted that China welcomes investment from French firms in a telephone call on Monday with Macron, who urged fair treatment for foreign companies in China. Macron visited China in April with great fanfare, in an attempt to demonstrate France's strategic autonomy from the United States.

Persons: Li Qiang, Catherine Colonna, Jade Gao, Wang Yi, Ursula von der Leyen, Charles Michel, Xi Jinping, Emmanuel Macron, Xi, Macron, Colonna, Laurie Chen, John Irish, Raju Gopalakrishnan Organizations: French, of, People, REUTERS Acquire, Rights, European, European Commission, EU, Thomson Locations: Beijing, China, Rights BEIJING, PARIS, European Union, Paris, France, Ukraine, Iran, Gaza, North Korea, United States

☆ Berkshire Hathaway posts 40% surge in operating earnings and record cash
▼ + stars: | 2023-11-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +3 min

New York CNN —Warren Buffett’s Berkshire Hathaway on Saturday reported a surge in third-quarter operating earnings and record-high cash pile of $157 billion in the period. Berkshire reported a net loss of $12.8 billion, compared to a loss of $2.8 billion during the same period last year. Berkshire bought back about $1.1 billion in stock during the third quarter, bringing the nine-month total to approximately $7 billion in stock repurchases so far this year. “It was like having God just opening a chest and just pouring money into it,” Charlie Munger, vice chair of Berkshire Hathaway, said of the investments in an interview with the Acquired podcast released in October. Berkshire Hathaway Class A shares are up 13.9% for the year as of Friday’s close, underperforming the benchmark S&P 500.

Persons: New York CNN — Warren, Berkshire Hathaway, Buffett, ” Buffett, Charlie Munger Organizations: New, New York CNN, Berkshire, Fitch, AAA, CNBC, Treasury, Federal Reserve, Berkshire Hathaway Locations: New York, Berkshire, Omaha , Nebraska

MEXICO CITY, Oct 26 (Reuters) - Mexican distiller Becle (CUERVO.MX), the world's largest tequila producer, lost $1.54 billion in market capitalization from a share selloff on Thursday after a stronger peso battered profits. Mexican firms' foreign income was devalued by gains in the peso, which strengthened 14% to the dollar over the year ending Sept. 30. Becle said it would continue shifting into the premium-priced liquor market and planned capital spending in the lower range of $200 million to $225 million this year. When stripping out the effects of foreign exchange, annual sales should still grow by a high-single digit percentage, Becle said. ($1 = 18.1430 Mexican pesos)Reporting by Sarah Morland; Editing by Kylie Madry and Rod NickelOur Standards: The Thomson Reuters Trust Principles.

Persons: Becle, Jose Cuervo, Gordon Dron, Morgan, Sarah Morland, Kylie Madry, Rod Nickel Organizations: MEXICO CITY, Itau, J.P, Thomson Locations: MEXICO, U.S, Europe, America

HELSINKI (AP) — Telecom gear maker Nokia said Thursday that it is planning to cut up to 14,000 jobs worldwide, or 16% of its workforce, as part of a push to reduce costs following a plunge in third-quarter sales and profit. The company said it is aiming to slash 800 million euros ($843 billion) to 1.2 billion euros in costs by the end of 2026. That is expected to lead to a reduction from 86,000 employees to between 72,000 and 77,000 over that time period. Nokia’s third-quarter sales plummeted 20%, to 4.98 billion euros from 6.24 billion in the same three-month period last year. The company’s biggest unit by revenue — the mobile networks business — declined 24% to 2.16 billion euros, driven mainly by weakness in the North American market.

Persons: it's, Pekka Lundmark, Lundmark, China’s, ” Lundmark, — Organizations: HELSINKI, — Telecom, Nokia, Ericsson, China’s Huawei, South, Samsung, “, North, North America nosedived Locations: Finnish, North American, North America, India

☆ Why is India's Modi so worried about Sikh separatist calls for Khalistan?
▼ + stars: | 2023-10-06 | by ( Rhea Mogul | ) edition.cnn.com time to read: +11 min

Amplified calls for the creation of Khalistan date back to when India gained its independence in 1947. At the same time, some Sikh supporters of Khalistan have made comments perceived as anti-national and threatening toward India and its government. And in counterinsurgency operations, Indian security forces were accused of a multitude of human rights abuses. The first photos of the damaged Akal Takhat after the army stormed the sikh Golden Temple complex in Amritsar on June 9, 1984. “The larger [Sikh] community is standing by the statements from Trudeau and they want action upon this,” said Jasveer Singh, a British Sikh and senior press officer with the Sikh Press Association.

Persons: Justin Trudeau’s, Hardeep Singh Nijjar, “, Nijjar’s, –, Andre Durand, Guru Nanak, hasn’t, ”, Amandeep Sandhu, Amritpal Singh, India’s, Singh, Stringer, Modi, Suhasini Haidar, Sondeep Shankar, Indira Gandhi, Gandhi, Harsh Pant, Cole Burston, Pant, Nijjar, Justin Trudeau, Blair Gable, Trudeau, Jasveer Singh Organizations: CNN, Air India, Sikh, Canadian, Air, Air India Boeing, Getty, India, British, Keystone, Pew Research Center, Panjab, Bharatiya Janata Party, BJP, Police, Khalistan, Observer Research Foundation, Protesters, Reuters, Sikh Press Association Locations: Montreal, New Delhi, Ireland, Indian, Punjab, Canada, Hardeep, India, Air India, Cork, AFP, Pakistan, Amritsar, British India, Ottawa, “ India, United States, United Kingdom, Australia, Toronto, British

A man walks past a logo of Xiaomi, a Chinese manufacturer of consumer electronics, outside a shop in Mumbai, India, May 11, 2022. A Xiaomi India spokesperson strongly denied the accusation. A spokesperson from Vivo did not respond immediately to repeated requests for comment, nor did the NewsClick news portal, which has denied all wrongdoing in the past. “It is further learnt that big Chinese Telecom companies like Xiaomi, Vivo, etc. NewsClick said this week it does not publish any news or information at the behest of any Chinese entity or authority.

Persons: Francis Mascarenhas, Prabir Purkayastha, NewsClick's Purkayastha, Xiaomi, NewsClick, Munsif, YP Rajesh, Andrew Heavens Organizations: REUTERS, Xiaomi, Vivo Mobile, Vivo, Media, Chinese Telecom, YP, Thomson Locations: Mumbai, India, DELHI, NewsClick, NewsClick's, Delhi, China, Court, New Delhi, Bengaluru

"OCA is looking into it, definitely," as well as organisers and the government, Singh told a press conference in the eastern Chinese host city, Hangzhou. The three wushu fighters from the state of Arunachal Pradesh were issued stapled visas instead of stamped ones, India's foreign ministry said. Wei Jizhong, chairman of the OCA's ethics committee, told reporters last week that China did not refuse entry to the athletes. New Delhi vociferously rejects the claim, saying Arunachal Pradesh has always been part of India. At the Asian Games, delayed by a year due to COVID-19, some 12,400 athletes from 45 nations are competing for 481 gold medals across a huge programme of 40 sports.

Persons: Stanley Cheah, Raja Randhir Singh, Singh, Wei Jizhong, Tibet . New Delhi vociferously, Ian Ransom, Martin Quin Pollard, William Mallard Organizations: Hangzhou Olympic Sports Center, Olympic Council of Asia, Singapore, Reuters, Rights, Asian Games, OCA, Thomson Locations: Hangzhou, China, Rights HANGZHOU, Arunachal Pradesh, India, Beijing, Tibet . New Delhi, New Delhi

But none have stepped up to condemn India for its alleged involvement in the June slaying on Canadian soil of a Sikh separatist, Hardeep Singh Nijjar. All that makes it hard for Canada's main allies — which are also some of India's main partners — to loudly speak out. The government’s allegations are particularly awkward now for the U.K., which is seeking a free trade deal with India. In 2018, for example, China-Canada relations nosedived after China detained former Canadian diplomat Michael Kovrig and Canadian entrepreneur Michael Spavor. Now the stakes are higher, and it's unclear — at least publicly — who Canada can count on for full-throated support.

Persons: Justin Trudeau, —, They’ve, Hardeep Singh, Janice Stein, Sushant Singh, ”, Trudeau, India ramped, — Trudeau, Rishi Sunak’s, Max Blain, ” Trudeau, Sunak, Joe Biden, Mélanie Joly, John Kirby, “, Kirby, Biden, Robert Bothwell, Narendra Modi's, Putin, Vladimir Putin, Nijjar, Michael Kovrig, Michael Spavor, Meng Wanzhou, Meng, Donald Trump, Trump, Bothwell Organizations: TORONTO, Canadian, Munk School of Global Affairs, Policy Research, Canada, Canada’s The Globe, Mail, British, Canadian Foreign, White House, University of Toronto, Indian, Nijjar, White, Huawei, U.S, “ Locations: India, U.S, Britain, Australia, New Zealand, China, Japan, Germany, Toronto, New Delhi, West, Vancouver, Canada, Indian, Canadian, Canada’s The, South Asia, Pacific, Ottawa, Washington, Russia, Surrey, Saudi, Saudi Arabia, “, British

☆ Bank of America: One ironic indicator sets stocks up for a 25% rally in the next 12 months, and these 6 industries have the best opportunities
▼ + stars: | 2023-09-18 | by ( Mark Reeth | ) www.businessinsider.com time to read: +3 min

Although valuation matters in the long-run, sentiment has a more immediate impact on share prices, Carey Hall wrote. Carey Hall noted that "based on the equal weighted S&P 500, PE ratios are roughly at historical average levels." Bank of AmericaThe reason for this is investor pessimism, particularly when it comes to long-term growth (LTG) expectations. "Today's LTG suggests >25% price returns over the next 12 months for the S&P 500, all else equal." According to Carey Hall, the best investment opportunities lie in the interactive media & services, household durables, media, passenger airlines, energy equipment & services, and insurance industries.

Persons: —, Jill Carey, Carey Hall, Carey, LTG Organizations: Bank of America, Carey Hall Locations: LTG

Chinese President Xi Jinping attends the plenary session of the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg, South Africa on August 23, 2023. More than 10 envoys from these countries stationed in China detailed to Reuters the increasing difficulty they face getting access to Chinese officials and other sources of information on the world's second-largest economy. When meetings are arranged, Chinese officials stick rigidly to scripted comments, the diplomats said, while some added they experienced hostile behaviour from nationalistic academics. However, envoys from two countries which enjoy close relations with China said they had experienced no such problems. "To Chinese officials, the benefits of such engagements have become less evident, while the political and security risks are growing."

Persons: Xi Jinping, GIANLUIGI, Ryan Neelam, Xi, Li Qiang, Vladimir Putin, COVID, Emmanuel Macron, Antony Blinken, Yun Sun, Sun, Tong Zhao, Martin Quin Pollard, Laurie Chen, John Geddie, Nick Macfie Organizations: Rights, Reuters, Lowy Institute, China Program, Stimson, Washington D.C, U.S, Carnegie Endowment, International, Thomson Locations: Sandton, Johannesburg, South Africa, Rights BEIJING, China, India, Beijing, Australian, Hong Kong, Russia, Ukraine, Taiwan, New Delhi, Moscow, Washington

NEW DELHI/BEIJING, Sept 5 (Reuters) - Chinese President Xi Jinping's decision to skip the G20 summit is being seen in host India as a snub to New Delhi and a new setback to the already frozen relations between the nuclear-armed Asian giants. Asked if Xi's decision reflects China-India tensions, Chinese foreign ministry spokesperson Mao Ning said that Beijing had supported India's hosting of the summit. China did not refer to any agreement and said Xi stressed improving ties helps both countries and global peace and stability. Shyam Saran, formerly India's top diplomat, said Xi's decision to skip the summit was "unusual". Happymon Jacob, who teaches international relations at New Delhi's Jawaharlal Nehru University, said Xi skipping the G20 summit "doesn't bode well" for India-China relations.

Persons: Xi Jinping's, Xi, Li Qiang, Mao Ning, Mao, Narendra Modi's, Baijayant Jay Panda, ”, China nosedived, Modi, Shi Yinhong, Shi, Shyam Saran, Saran, Happymon Jacob, bode, Jacob, Liz Lee Organizations: NEW, Bharatiya Janata Party, BJP, riling, China's Renmin University, Reuters, New, Jawaharlal Nehru University, Thomson Locations: NEW DELHI, BEIJING, India, New Delhi, China, Beijing, Johannesburg, Delhi, United States, riling Beijing, Japan, Australia, South China

☆ Rent growth nosedived again in August as tenants gain leverage over landlords — and apartments in these 42 cities are actually cheaper now than they were last year
▼ + stars: | 2023-08-31 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Rent growth is rapidly decelerating across the US after taking off during the pandemic. Lower rent growth means that the cost of an apartment is still climbing, just at a slower pace. Renting may be expensive, but considering how many are feeling about the economy, it's easy to see why so many are sticking to apartments — especially as rent growth steadily slides. 42 cities that are getting more affordableBelow are 42 real estate markets where median rent for a one-bedroom apartment is lower than it was in 2022, according to Zumper. Along with each city are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Price, Anthemos Georgiades, Georgiades

The attacks are forcing Russian tourists to reconsider their plans. Popular destinationCrimea has always been popular with Russian tourists, many of whom remember vacationing there during Soviet times. After Moscow launched its full-scale invasion of Ukraine in February last year, a number of countries closed their doors to Russian tourists. Crimea suddenly became one of the few sunny beach destinations Russian tourists could still visit without having to spend a lot of money. The attack was frightening enough to scare away many of the Russian tourists who had still been planning to come.

Persons: Oleksii Reznikov, Svitlana, “, ”, Olga Maltseva, hasn’t, Iryna Vereshchuk, Putin, ” Svitlana, Vladimir Konstantinov, ATOR, ” Reznikov, Reznikov, Volodymyr Zelensky, –, ” Zelensky Organizations: CNN, Kyiv’s, “, Getty, Crimean Ministry of Resorts, Tourism, Russian Union of Travel Industry, Ukraine’s, Moscow, European Union, Association of Russian, Kyiv, Security Service of Ukraine, State Council of, Russian, Fleet, Crimean Human Rights Group Locations: Crimea, Ukraine, Ukrainian, Moscow, Russia, Russian, St . Petersburg, AFP, Yalta, Kerch, EU, Europe, Turkey, Sochi, Republic of Crimea, Crimean, Sevastopol, Kyiv

☆ WeWork announces 1-for-40 reverse stock split to avoid getting kicked off the New York Stock Exchange
▼ + stars: | 2023-08-18 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

The troubled company, which operates co-working spaces, said it will proceed with a 1-for-40 reverse stock split of its outstanding shares, meaning that 40 shares of WeWork stock will be swapped for a single share. The reverse stock split is a bid to boost WeWork’s ailing stock price and save its shares from getting delisted. WeWork’s reverse stock split will be effective at 4:01 pm Eastern Time on September 1 and begin trading post-split at the market open on September 5. As part of the plan, WeWork said it will try to lower rent costs by renegotiating more favorable lease terms for its office spaces. Members pay to rent desks at WeWork’s office spaces.

Persons: CNN —, WeWork, Adam Neumann, Sandeep Mathrani, David Tolley Organizations: CNN, New York Stock Exchange, NYSE

☆ CNBC Daily Open: Treasury yields are putting pressure on stocks
▼ + stars: | 2023-08-18 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Michael M. Santiago | 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 lineRising U.S. Treasury yields are straining stocks. All three indexes closed below their 50-day moving average — the first time for the Dow since June. All indexes are still above their 200-day moving average.

Persons: Michael M, That's, —, bullishness, It'd, — CNBC's Scott Schnipper Organizations: New York Stock Exchange, Santiago, CNBC, Treasury, it's, Fed, Investors, Dow Jones, Nasdaq, Dow, Trading, American, of, Investor Locations: New York City, U.S, There's

India's Prime Minister Narendra Modi speaks during a meeting at The Ministry of Foreign Affairs in Paris France July 14, 2023. JULIEN DE ROSA/Pool via REUTERS/File PhotoNEW DELHI, Aug 2 (Reuters) - Indian Prime Minister Narendra Modi is likely to be a virtual participant at a summit of BRICS nations in South Africa later this month rather than attend in person, sources in New Delhi told Reuters. China and Russia are keen to discuss expansion of BRICS at the summit, while India has reservations about that idea. The SCO summit was held days after Modi returned from a state visit to Washington where President Joe Biden rolled out the red carpet for him. India holds the presidency of the G20 grouping and will host a summit of its leaders in early September.

Persons: Narendra Modi, JULIEN DE ROSA, Modi, Vladimir Putin, Joe Biden, Rupam Jain, Krishn Kaushik, YP Rajesh, Simon Cameron, Moore Organizations: India's, The Ministry of Foreign Affairs, Indian, Reuters, Shanghai Cooperation Organisation, SCO, YP, Thomson Locations: Paris France, South Africa, New Delhi, Johannesburg, Brazil, Russia, India, China, Russian, BRICS, United States, Beijing, Washington, Ukraine, Moscow

☆ A publicly traded media venture with ties to MoviePass' former chairman has been suspended from Nasdaq and its stock is in free fall
▼ + stars: | 2023-08-02 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

Embattled digital-media company Vinco Ventures has been suspended by Nasdaq after a board exodus. It became a meme stock in 2021 after teaming up with the ex-chairman of MoviePass and touting buzzy acquisitions. The future of Vinco Ventures, the publicly traded media venture with ties to ex-MoviePass chairman Ted Farnsworth, is hanging in the balance after a series of buzzy deals collapsed and a board exodus has put the stock on the brink of a Nasdaq delisting. Shares of Vinco have nosedived 99% since their recent peak in September 2021, when meme-stock investors helped propel the stock. Farnsworth led the 2017 acquisition of MoviePass as chairman and CEO of the then-publicly-traded company Helios & Matheson Analytics, or HMNY for short.

Persons: Ted Farnsworth, we've, Shadwrick Vick, Farnsworth, Vick, It'd, Vinco, They're, Mitch Lowe, Lowe, MoviePass, Chris Bond, Mr Organizations: Vinco Ventures, Nasdaq, Zash Global Media, Entertainment, National Enquirer, Street Journal, MoviePass, Helios, Matheson Analytics Locations: Vinco, Clark County , Nevada

☆ AI investment is booming. How much is hype?
▼ + stars: | 2023-07-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

The investment into Mistral AI is just one of many this year by venture capitalists jostling for a seat aboard the AI rocketship. In the first six months of 2023, they plowed $15.2 billion into generative AI companies globally, according to Pitchbook data. The bulk of this sum comes from Microsoft (MSFT)’s $10 billion investment, announced in January, in OpenAI, the developer of popular generative AI chatbot ChatGPT. But even excluding Microsoft’s bumper deal, the value of VC investments in generative AI was up by almost 58% compared with the same period in 2022. “Buying a ‘dot-ai’ domain, and claiming to be an AI company… doesn’t really make you an AI company,” Jacobs told CNN.

Persons: Antoine Moyroud, wasn’t, ”, Arthur Mensch, Nathan Laine, hasn’t, ” Mostaque, jostling, Moyroud, ’, ’ “, “, ” Moyroud, It’s, Jaap Arriens, Goldman Sachs, Stocks, Mike Reynolds, Reynolds, —, “ It’s, ” Reynolds, ” Jordan Jacobs, … doesn’t, ” Jacobs Organizations: London CNN, Lightspeed Venture Partners, CNN, Mistral, Viva Tech, Bloomberg, Getty, Stability, Microsoft, Meta, Nvidia, Nasdaq, Cisco, Radical Ventures Locations: French, Paris, California, OpenAI, —, Toronto

☆ Sri Lanka parliament passes anti-corruption bill without vote
▼ + stars: | 2023-07-19 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, July 19 (Reuters) - Sri Lanka's parliament approved an anti-corruption bill on Wednesday, aimed at improving governance in the crisis-hit country and meeting requirements linked to a $2.9 billion bailout from the International Monetary Fund (IMF). The legislation was passed without a vote in the 225-member parliament. "The bill is passed with amendments," Sri Lanka parliament Speaker Mahinda Yapa Abeywardena told lawmakers after more than two dozen pages of amendments were included into the draft legislation during the morning session. The Anti-Corruption Bill increases the powers and resources allocated to Sri Lanka's Bribery and Corruption Commission, which is mandated with carrying out major investigations. "We welcome the law, but the proof of the pudding will be in the eating," said Sankhitha Gunaratne, Deputy Executive Director, Transparency International Sri Lanka (TISL).

Persons: Mahinda Yapa Abeywardena, Sankhitha Gunaratne, Uditha Jayasinghe, Himani Sarkar, Christian Schmollinger, Emma Rumney Organizations: International Monetary Fund, IMF, United Nations, Sri, Corruption Commission, Sri Lanka, Thomson Locations: COLOMBO, Sri Lanka, Asia

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