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☆ Baltimore officials accused the ship that crashed into the Key Bridge of being 'unseaworthy' and leaving port even though its alarms had already gone off
▼ + stars: | 2024-04-24 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Read previewCity of Baltimore officials on Monday accused the owner and manager of the ship that crashed into the Francis Scott Key Bridge of allowing the vessel to set sail despite it being "clearly unseaworthy." "Reporting has indicated that, even before leaving port, alarms showing an inconsistent power supply on the Dali had sounded," the court petition reads. Authorities found that the 984-foot ship lost power as it navigated toward the bridge, causing it to lose propulsion. The crew on board broadcast a mayday call just before impact, allowing traffic police to seal access to the bridge. AdvertisementMeanwhile, President Joe Biden has said that the federal government will fund the reconstruction of the Key Bridge, and has agreed to disburse some $60 million in aid to the region.

Persons: —, Francis Scott Key, Dali, Grace Ocean, Baltimore Mayor Brandon Scott, Joe Biden Organizations: Service, Synergy Marine, Business, Baltimore Mayor, Grace, Synergy, Port, Authorities, National Transportation Safety Board, FBI, Washington Post Locations: Baltimore, Maryland, Singapore, Port of Baltimore, Sri Lanka, Patapsco

☆ Tesla’s entry into India’s EV market will be 'good news’ for the country, says MG Motor India
▼ + stars: | 2024-04-24 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +3 min

"When India as a market gets attention, more and more players and investments will come in. Numbers are still constrained because consumers don't have compelling choices," Chaba told CNBC's Sri Jegarajah in Gurugram, India. India's electric vehicle sector still lacks competition, but entry from international automakers like Tesla will level the playing field, MG Motor India's CEO Emeritus Rajeev Chaba said. Tesla CEO Elon Musk postponed a scheduled trip to India this week where he was to meet Prime Minister Narendra Modi, citing "heavy Tesla obligations." It'll be good for the industry, good news for the country, and for serious players like us."

Persons: Tesla, Chaba, EVs, CNBC's, Rajeev Chaba, Elon Musk, Narendra Modi, Maruti Suzuki, It'll, Musk Organizations: Bain & Company, CNBC's Sri, Motor, Reuters, Tesla, Tata Motors, Mahindra, Maruti Locations: India, CNBC's Sri Jegarajah, Gurugram, New Delhi, Mumbai

☆ Forget Nvidia: Morgan Stanley says Intel's much-hyped AI chip will boost 3 global stocks
▼ + stars: | 2024-04-24 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

The launch of Intel 's latest artificial intelligence chip is expected to benefit three global semiconductor companies, according to Morgan Stanley. The semiconductor giant said the latest chip is twice as power-efficient and can run AI models one-and-a-half times faster than Nvidia's H100 GPU – the flagship product from the current AI chip market leader. In a research note Monday, the Wall Street bank said Taiwanese companies TSMC , Alchip , and Wistron are likely to be the biggest beneficiaries of the demand for Intel's Gaudi chips. In its note, Morgan Stanley reiterated its overweight rating on Alchip and TSMC, considering them long-term winners of AI semiconductor demand. The analysts are overweight on Wistron too, noting that Nvidia's new Blackwell GB200 AI chip will also drive immediate growth for the Taiwanese electronics manufacturer.

Persons: Morgan Stanley, Gaudi, Alchip, Wistron, Morgan Stanley's, Charlie Chan, Blackwell, — CNBC's Michael Bloom Organizations: Intel, Gaudi, Dell, Hewlett Packard Enterprise, Lenovo, Microsoft, Google Locations: United States

☆ The extraordinary ancient secret places hidden under Turkey
▼ + stars: | 2024-04-23 | by ( Lisa Morrow | ) edition.cnn.com time to read: +11 min

Less obviously visible but equally impressive are the historical treasures, some more than 12,000 years old, that can be found underground. Unlike the Basilica, this underground chamber was completely forgotten about until less than 15 years ago. Other than locals herding their livestock through the ruins of a garrison city dating to the 6th century, few people went there. Now, the site has given up numerous treasures including rock-cut tombs, an olive processing workshop and a series of underground cisterns. Yeraltı, literally meaning underground, was originally a dungeon in the basement of a fort built by the Byzantines in the 8th century CE.

Persons: James Bond, Theodosius II, Theodosius, Derinkuyu, tufa, émigrés, Han, Rümeli Han, Sarıcazade Ragıp Pasha, Sultan Abdülhamid II’s, Sancaklar, Göbeklitepe, Yeraltı, –, Fatih Sultan Mehmet, Grand Vizier Bahir Mustafa Paşa, dervish Organizations: CNN, Love, UNESCO, Şanlıurfa Archaeology Locations: Turkey, Europe, Asia, Russia, Faith, Istanbul, Constantinople, Fatih, Belgrade Forest, Valens, Dara, Mardin, Nevşehir, Cappadocia, Derinkuyu, Taksim, stairwells, Sancaklar, Büyükçekmece, Mecca, Göbeklitepe, everyone’s, Şanlıurfa, Karaköy, Yeraltı, Ottoman, Grand

☆ AstroForge: How this startup plans to make asteroid mining a reality.
▼ + stars: | 2024-04-23 | by ( Amy Gunia | ) edition.cnn.com time to read: +11 min

Now the California-based startup is attempting to make asteroid mining a reality. That makes AstroForge the only company with a refinery that can turn M-type asteroids into PGMs in space, he adds. Some in the scientific community are skeptical that the private sector will be able to afford asteroid mining. Its all-or-nothing, lower-cost approach may help push asteroid mining closer to reality. “I hope if nothing else,” Gialich says, “we’re known as a space company that went for it.”

Persons: Matt Gialich, Gialich, Jose Acain, “, ”, we’re, “ We’re, AstroForge, Edward Carreon, “ that’s, –, Dan Britt, REx, James Cameron, Larry Page, Britt, “ I’m, ” Gialich, NASA's, Aubrey Gemignani, ” Britt, AstroForge’s Organizations: CNN, Virgin, SpaceX, NASA, Companies, Apple, Center, University of Central, JAXA, United, United Arab Emirates ’ Space Agency, UAE Space Agency, AP NASA, Planetary Resources, Titanic, Google, NASA's Kennedy Space Center, Getty Locations: California, University of Central Florida, China, United Arab, United Arab Emirates, Utah, Los Angeles, Florida

☆ I tried 6 protein bars to find the best-tasting options at the grocery store, and there are only 2 I'd buy again
▼ + stars: | 2024-04-23 | by ( Ted Berg | ) www.businessinsider.com time to read: +1 min

I tried protein bars from One, Think!, Quest, Pure Protein, Clif Builders, and Barebells. The Clif Builders protein bar was a bit high in calories but I enjoyed it. AdvertisementProtein bars are becoming really, really popular. To help find which is the best to buy at the grocery store, I bought protein bars in similar flavors from six different brands to review. The amount of protein, calories, fiber, or added sugars a person is looking to consume will vary, so I focused my reviews on taste.

Persons: — Organizations: Clif Builders, Service

☆ China's 'Netflix' iQiyi pivots toward an aging population in an AI era
▼ + stars: | 2024-04-23 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — Chinese video streaming platform iQiyi is turning its attention to the country's aging population, while using artificial intelligence tools to bolster content production. One of iQiyi's near-term goals is to improve the product offering for older users, CEO and founder Gong Yu said Tuesday at the company's annual conference. Gong also pointed to estimates that predict about one-fourth of China's population will be considered elderly in 2033, rising to one-third in 2053. Fewer children, Gong said, means each child becomes more important. He said iQiyi would improve the quality of its content for children.

Persons: Gong Yu, Gong Organizations: Netflix, CNBC Locations: China, U.S, BEIJING, iQiyi's

☆ A British Airways flight to nowhere circled in the air for 4 hours after its weather monitoring system collapsed
▼ + stars: | 2024-04-23 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Read previewAn already delayed British Airways plane that took off from Singapore landed back at the same airport five hours later after a technical fault forced it to turn back. British Airways Flight 12 circled Singapore for around four hours before landing back where it started. Advertisement"Planes are designed to land below certain weights," Business Insider previously reported. Advertisement"We currently do not have a revised departure time for your flight," British Airways said in an email to passengers at about 9:15 a.m. local time. However, that flight had to be canceled, as British Airways did not have any other aircraft available.

Persons: — Organizations: Service, British Airways, London Heathrow, Business, Airbus, Flightradar24 Aircraft, Passengers, Singapore Changi Airport, Heathrow Locations: British, Singapore, Singapore Changi, London, Malaysia, Heathrow, Los Angeles

A solar energy company and a video game maker were highlighted by analysts Tuesday. Meanwhile, JPMorgan upgraded Roblox to overweight from neutral, and its new price target implies upside of more than 35%. — Pia Singh 5:43 a.m.: KeyBanc downgrades beaten-down solar stock Sunnova Energy Heading into first-quarter earnings, KeyBanc Capital Markets is cautious on residential solar names, particularly Sunnova Energy . Analyst Sophie Karp downgraded the Texas-based residential and commercial solar energy company to sector weight from overweight and removed her price target on the stock. It also raised its price target to $48 from $41, implying a 37% rally over the next 12 months.

Persons: KeyBanc, Oppenheimer, Dwight, Rupesh Parikh, Parikh, — Pia Singh, DataDog, Andrew Nowinski, Datadog, Nowinski, Yun Kim, Kim, MDB, KeyBanc downgrades, Sophie Karp, Karp, —, Cory Carpenter, Carpenter, Fred Imbert Organizations: CNBC, JPMorgan, Loop Capital, Sunnova Energy, NOVA, SolarEdge Technologies, Enphase Energy Locations: Sunnova, Parikh, Wells Fargo Wells, Texas, U.S

☆ DJT stock plunges 9% with Trump set to qualify for 36 million bonus shares
▼ + stars: | 2024-04-23 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Trump Media shares fell 9% Tuesday ahead of an expected earnout bonus for former President Donald Trump. Trump will receive an additional 36 million shares, worth about $1.15 billion, if the stock closes above a $17.50 minimum share price. A spokesperson for Trump Media did not respond to CNBC's request for comment about the earnout. The company also released a statement Tuesday highlighting steps shareholders could take to prevent the lending of their stock for short selling. On Friday, Trump Media warned the Nasdaq CEO of "potential market manipulation" of the company's stock by "naked" short selling of shares.

Persons: Donald Trump, DJT, Trump Organizations: Trump Media, Nasdaq Locations: DJT

☆ JD Sports to buy U.S. rival Hibbett in $1.08 billion sportswear retail deal
▼ + stars: | 2024-04-23 | by ( ) www.cnbc.com time to read: +2 min

(Photo by May James/SOPA Images/LightRocket via Getty Images)JD Sports Fashion has proposed to buy American athletic fashion retailer Hibbett Inc for about $1.08 billion, the companies said on Tuesday, as Britain's biggest sportswear retailer looks to expand across the southeastern U.S. The deal comes as shares in athletic clothing retailers come under pressure globally after weak outlooks from sports apparel makers such as Nike and Puma. It will pay $87.50 per Hibbett share in cash, representing a premium of about 20% to the U.S. firm's last closing price. JD Sports shares, which have fallen more than 20% so far this year, were up 6% by 0900 GMT. The deal is expected to add to the British firm's earnings in the first full year of ownership, with cost savings expected to be at least $25 million, JD said.

Persons: May James, Foot Locker, Dominic Platt, JD Organizations: UNITED, Getty, Hibbett Inc, Nike, Puma, Adidas, JD Sports, Paris Olympics Locations: UNITED KINGDOM, England, premarket U.S, U.S, North America, Bury, Greater Manchester

☆ Here's why Biden administration believes new student loan forgiveness plan will survive legal challenges
▼ + stars: | 2024-04-23 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

US President Joe Biden speaks about student loan debt relief at Madison Area Technical College in Madison, Wisconsin, April 8, 2024. The aid package is narrowerBiden's 2020 campaign promise to erase student debt was thwarted at the Supreme Court in June. Biden had tried to forgive the debt of nearly all 40 million federal student loan borrowers, with many people getting up to $20,000 in cancellation. As a result, for critics of broad student loan forgiveness, Biden's new plan looks a great deal like his first. Biden's first forgiveness plan was based on the Higher Education Relief Opportunities for Students Act, or HEROES Act, of 2003.

Persons: Joe Biden, Andrew Caballero, Reynolds, Joe Biden's, Biden didn't, Biden, who've, Biden's, Andrew Bailey, X, Bailey, There's, didn't, John Roberts, Lyndon B, Johnson, Sen, Elizabeth Warren, Warren Organizations: Madison Area Technical College, AFP, Getty, U.S . Department of Education, Republican, Higher, Higher Education, Act, Biden, ., of Education Locations: Madison , Wisconsin, Missouri, . Nebraska

☆ Stock market today: US stocks climb ahead of Tesla and mega-cap tech earnings
▼ + stars: | 2024-04-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

Investors are turning their attention to mega-cap earnings, hoping for a new rally catalyst. Tesla is slated to report after Tuesday's closing bell, followed by Meta on Wednesday. Tesla is slated to publish after Tuesday's closing bell, with many on Wall Street having misgivings about its performance, given its massive stock slide and first-quarter delivery disappointment. If earnings exceed expectations, investors are hoping to jump-start another rally, with the stock market's 10% year-to-date gain through the end of March now cut by more than half. AdvertisementHere's where US indexes stood at the 4:00 p.m. closing bell on Tuesday:Here's what else is going on:AdvertisementIn commodities, bonds, and crypto:

Persons: Stocks, —, Tesla Organizations: Meta, Service, Microsoft, Here's

☆ Stocks making the biggest moves after the bell: Tesla, Visa, Mattel and more
▼ + stars: | 2024-04-23 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Tesla — The electric vehicle maker climbed 6.9% despite earnings coming in weaker than analysts forecasted for the first quarter. Tesla posted 45 cents in adjusted earnings per share on $21.3 billion in revenue, while analysts surveyed by LSEG anticipated 51 cents and $22.15 billion. Mattel said it gave up 5 cents per share in the first quarter, less than the 12 cents anticipated by analysts polled by LSEG. Mattel saw $810 million in revenue for the three-month period, under Wall Street's consensus estimate of $832 million. The company said to expected second-quarter revenue between $290 million and $330 million, under the consensus forecast of $349 million.

Persons: Tesla, LSEG, Enphase Organizations: Mattel, LSEG, Texas, Visa

☆ SoftBank will reportedly invest nearly $1 billion in AI push, tapping Nvidia's chips
▼ + stars: | 2024-04-23 | by ( Dylan Butts | ) www.cnbc.com time to read: +1 min

Signage at a SoftBank Corp. store in the Ginza district of Tokyo, Japan, on Wednesday, Nov. 1, 2023. Japanese tech conglomerate SoftBank is looking to develop a "world-class" Japanese-language-specific generative artificial intelligence model, and plans to invest $960 million in the next two years to bolster its computing facilities, according to a Nikkei report. Training of large language models (LLM), such as OpenAI's Chat GPT, requires advanced graphics processing units, which SoftBank plans to purchase from U.S. chip giant Nvidia , the Nikkei reported Monday, citing anonymous sources. The investment of 150 billion yen ($960 million) will be spent in 2024 and 2025 and adds to 20 billion yen that SoftBank spent on computing infrastructure last year, the report said. According to another report from Nikkei Asia, Japan lacks private companies with the high-performance supercomputers that are needed to build LLM, despite increased interest in the tech.

Persons: SoftBank Organizations: SoftBank Corp, Nikkei, Nvidia Locations: Ginza, Tokyo, Japan, U.S, Nikkei Asia

☆ When Tesla shares fall, these 6 stocks tend to rise, according to recent history
▼ + stars: | 2024-04-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Six stocks in the S & P 500 tend to rise when Tesla shares fall, according to an analysis of recent data by CNBC Pro . The share price performance of these S & P 500 stocks was inversely correlated to Tesla's last month. A correlation of 0 would indicate no statistical link between the EV automaker's stock and the share price of the six companies. The table below highlights the ten stocks in the S & P 500 that had the strongest inverse correlation with Tesla's share price last week (between Apr. 20): Consumer products maker Church & Dwight is the only stock that was inversely correlated to Tesla both in March and last week.

Persons: Wells, Tesla, Emmanuel Rosner, Dwight, Fred Imbert Organizations: CNBC Pro, Linde, FMC, eBay, Church, Walmart, Tesla, Deutsche Bank, EV, CNBC Locations: U.S

☆ Opinion: I loved my Lunchables as a kid. Now, all I see is what’s in them
▼ + stars: | 2024-04-23 | by ( Opinion Hasan Merali | ) edition.cnn.com time to read: +7 min

So why are we now feeding Lunchables to children as part of the National School Lunch Program (NSLP)? We are proud of Lunchables and stand by the quality and integrity that goes into making them,” Kraft Heinz said. In Canada, for example, a country that often outperforms the US in public health measures such as vaccination rates, there is no national food program for children. Meals that adhered to a higher nutritional standard were also thrown away less, according to a study published in Childhood Obesity in 2015. A modeling study published in Public Health Nutrition in 2022 estimates a 20% tax would reduce purchases of UPFs by 24%.

Persons: Hasan Merali, ”, Hasan Merali Chris Hartlove, Kraft Heinz, Lunchables, Fresh, ” Kraft Heinz, UPFs, Tony Organizations: of Pediatrics, McMaster University, CNN, Consumer, British Medical, American, Clinical Nutrition, Public Health Nutrition Locations: Canada, Lunchables, America, Colombia, Chile, France

☆ European markets head for higher open, buoyed by rebound on Wall Street
▼ + stars: | 2024-04-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a higher open Tuesday, building on positive momentum in the previous session. Regional markets closed higher Monday, buoyed by a rebound in tech stocks on Wall Street, and the U.K.'s FTSE 100 clocked its fourth daily gain Monday and surpassed its previous record close set on Feb. 20, 2023. U.K. stocks were boosted, while sterling tumbled against the U.S. dollar as investors raised bets on a summer interest rate cut from the Bank of England. Investors in the region are looking ahead to bank earnings this week, and will be keeping an eye on a range of tech earnings stateside, with Tesla reporting during U.S. trading hours Tuesday.

Organizations: U.S, Bank of England, Investors

☆ The Pentagon is 'not really' worried about China's new H-20 stealth bomber, defense official says
▼ + stars: | 2024-04-23 | by ( Ella Sherman | ) www.businessinsider.com time to read: +4 min

A US defense official downplayed the threat of China's new Xi'an H-20 bomber. AdvertisementChina's new bomber, the Xi'an H-20, is intended to rival America's new stealth bomber, but a US defense official told reporters on Monday it's "not really" a concern. A B-2 Spirit takes off for Red Flag-Nellis 24-1 training at Nellis Air Force Base on Jan. 16. A former US Air Force commander said previously that it wasn't "anything to lose a lot of sleep over." The Pentagon unveiled a new stealth bomber in 2022 that is currently in production and will eventually replace B-1 and B-2 fleets.

Persons: —, it's, William Lewis, It's, Wang Wei, David Swanson, Northrop Grumman Organizations: Service, Breaking Defense, Flag, Nellis, Nellis Air Force Base, US Air Force, Liberation Army Air Force, Hong, Hong Kong Commercial Daily, China Aviation Industry Corporation, Northrop, Air Force, United States Air, REUTERS, Pentagon Locations: Xi'an, Jan, China, Hong Kong, Palmdale , California, U.S

☆ Huawei smartphone sales are soaring in China as Apple sinks
▼ + stars: | 2024-04-23 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

New Delhi CNN —Huawei is not only making a roaring comeback in China, it is also on the verge of overtaking Apple in the world’s largest smartphone market. Its market share now stands at 15.7%, while Huawei’s has jumped to 15.5%, from 9.3% last year. Counterpoint’s data comes just days after another market research firm IDC said Apple’s global smartphone sales had tumbled 10% in the first quarter, mainly because of loss of momentum in China. Overall smartphone sales in China grew 1.5% in the first quarter, according to Counterpoint. Local smartphone makers Vivo and Honor were the top two brands by market share.

Persons: ”, Ivan Lam, Huawei’s Organizations: New, New Delhi CNN, Huawei, Apple, Research, IDC Locations: New Delhi, China, Shenzhen, Washington, Beijing, United States, China . China

☆ 20 Years Later, a Jury Weighs Claims of Abuse at Abu Ghraib
▼ + stars: | 2024-04-23 | by ( Mattathias Schwartz | ) www.nytimes.com time to read: 1 min

The journalist said he was left naked overnight in a cold prison cell with a bag over his head, chained by his wrists to a pipe. The fruit vendor said he was forced to take off his clothes and masturbate, while his captors watched and took photos. The middle-school principal said he was told he would be raped, and that his family would be brought to the prison and raped as well. At a federal courthouse in Alexandria, Va., a jury listened last week to the accounts of three Iraqis who were arrested by U.S. forces after the 2003 invasion of Iraq and then held at Abu Ghraib prison.

Organizations: U.S Locations: Alexandria, Va, Iraq, Abu Ghraib

☆ The top 20 fast-growing, high-paying jobs in the US
▼ + stars: | 2024-04-23 | by ( Madison Hoff | ) www.businessinsider.com time to read: +2 min

BI looked at employment projections and median annual wages to create a ranking of similar jobs. 5 on this list of high-paying and fast-growing jobs. AdvertisementSpoiler alert: Software developers tops Business Insider's list of the top 20 high-paying and fast-growing jobs in the US. To get the top 20 job titles, Business Insider looked at jobs projected to see employment increase between 2022 and 2032 and had median annual wages greater than the median annual wage for all jobs in the US, which was $48,060. AdvertisementWe only looked at jobs with specific annual wage estimates.

Persons: — Organizations: Service, Bureau of Labor Statistics

Petrified wood is one of the most sought-after materials in the world for both its aesthetic value and its scientific value. But in Indonesia, miners who risk their lives to dig it up barely make enough to get by.

Locations: Indonesia

☆ Taylor Swift’s ‘Tortured Poets Department’ poised to top her sales records next week
▼ + stars: | 2024-04-23 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +4 min

CNN —Taylor Swift is already breaking hearts and records since she released “The Tortured Poets Department,” but to what extent she’s done the latter will be known in more detail when full sales figures for the album are released next week. “The Tortured Poets Department” (“TTPD”) sold 1.5 million copies in the US in its first three days. The milestones for “Tortured Poets” may have only just begun:Billboard 200 albums chartAmong female recording artists, Swift has the most No. If “Tortured Poets” claims the top spot in its first week, it will be her 14th album to do so. With 31 “TTPD” songs at play, she could potentially overtake Drake’s top 20 record in the weeks to come.

Persons: CNN — Taylor Swift, ” won’t, we’ve, Taylor, ”, Swift, Jay, she’s, ” Keith Caulfield, Taylor Swift, Drake Organizations: CNN, Poets Department, Billboard, New York Times, Department, Beatles, Drake’s, Apple, Spotify, Amazon

The cost of pawn shop loans can be high, but in some situations they can offer financial leeway. How pawnshop loans workThe process of getting a pawnshop loanPawnbrokers assess your items just as they do for customers looking to pawn for a direct sale. About 60% of users of pawn loans, title loans, or payday loans were turned down partially or in full for requested mainstream credit sources, according to the CFPB. Unlike qualifications for personal loans, pawn loans don't require a credit check or information on financial assets. Pawnshop loans can get expensive because they have higher interest rates and fees compared to traditional loans.

Persons: you've, You'd, you'll, They're, you'd, Kate Underwood Kate Underwood Kate Underwood, www.kateunderwoodwriter.com Read Organizations: U.S . Department of, National Pawnbrokers Association, Consumer Financial Protection Bureau, Chevron Locations: Virginia Beach , Virginia, Richmond , Kentucky

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