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☆ Russia can rely on China for the yuan, but China can't rely on anyone else
▼ + stars: | 2024-10-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Western sanctions have forced Russia to rely on the Chinese yuan for reserves and trade. China's financial system is deeply tied to the greenback, limiting diversification options. These include the entrenched role of the greenback in the global commodities trade and much larger foreign reserves than Russia, wrote Greene, a former senior advisor at the US Treasury. However, many CIPS participants are highly connected to the dollar financial system and potentially subject to the reach of US sanctions. The dollar is still kingIn short, China just can't copy Russia's sanctions-proofing playbook and is likely to continue orbiting around the dollar financial system in the near-term.

Persons: —, China —, Robert Greene, Greene, China's, It's, dollarization, James Lord, Morgan Stanley's, Michael Zezas Organizations: Service, Carnegie Endowment Asia, US Treasury, Patomak Global Partners, Federal Reserve Bank of Boston Locations: Russia, China, Beijing, Russia's, Ukraine

☆ There's a catch in OpenAI's $6.6 billion funding deal that no one is talking about
▼ + stars: | 2024-10-04 | by ( Natalie Musumeci | Alex Bitter | ) www.businessinsider.com time to read: +6 min

There's an important stipulation on OpenAI's historic $6.6 billion funding round. AdvertisementOpenAI's historically large $6.6 billion funding round is bringing in checks from some of the biggest technology and venture capital investors. If the ChatGPT-maker doesn't complete its transition to a for-profit company within two years, investors in the latest round could ask for their money back, multiple outlets have said. But "if there's disagreement within the entity, then it's much harder for the regulators to approve it," he said. AdvertisementStill, the legal experts said that though OpenAI's transition to a for-profit company is a complicated one, it's doable.

Persons: —, there's, doesn't, OpenAI, Jill Horwitz, Horwitz, Alexander Reid, Reid, doable, Elon Musk, Sam Altman, Greg Brockman, Musk, Altman Organizations: Service, University of California, Los Angeles School of Law, Internal, SEC, IRS, Employees Locations: OpenAI, Delaware, California

☆ Jon Steinlauf, WBD's Top Ad Salesman, to Leave. Read the Memo.
▼ + stars: | 2024-10-04 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

Discovery's top ad salesman, will leave at the year's end. Steinlauf's departure follows his role in merging ad sales units after the Discovery-WarnerMedia deal. Discovery's top ad salesman, will leave the media company at the end of the year, according to an internal memo from Bruce Campbell, WBD's chief revenue and strategy officer, that was shared with Business Insider. AdvertisementSteinlauf led Discovery's ad sales business starting in 2018 under Zaslav pre-merger, having joined Discovery through its acquisition of Scripps Networks. Read the memo about Steinlauf's departure from the company below:

Persons: Jon Steinlauf, —, Bruce Campbell, Turner, WBD, Comcast's NBCU, Marybeth Strobel, Ryan Gould, David Zaslav, Steinlauf Organizations: Warner Bros, Discovery, NBA, Service, Business, CNN, HBO, Disney, Paramount, Turner Sports, Zaslav, Scripps Networks

☆ Problems keep piling up for budget airlines like Spirit Airlines — so get set to pay more
▼ + stars: | 2024-10-04 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

Spirit Airlines is considering filing for bankruptcy protection, The Wall Street Journal reported. Its struggles are indicative of the wider issues faced by budget airlines as labor and fuel costs rise. AdvertisementIn another sign of the problems faced by budget airlines, The Wall Street Journal reported that Spirit Airlines is considering filing for bankruptcy protection. The introduction of premium-seating options and axing routes is spelling the end of budget airlines as we've known them. Its pre-tax income fell 63% in the second quarter of 2024 compared with the same period last year.

Persons: —, Ted Christie's, Neil Glynn, Glynn, Mario Tama, Elliott Organizations: Airlines, Street Journal, Service, Spirit Airlines, JetBlue, Control, Southwest Airlines, Getty, Frontier Airlines, Elliott Management

☆ Watch CNBC's full interview with Man Group CEO Robyn Grew
▼ + stars: | 2024-10-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Man Group CEO Robyn GrewRobyn Grew, the CEO of the largest publicly traded hedge fund, says hedge funds are 'more relevant than ever,' even as the industry suffers from outflows and underperformance. For its part, Man Group, in the most-recent quarter, reversed two quarters of outflows and drove assets under management to a record $178 billion. In her first CNBC interview, marking her one year as CEO, Grew said that the need for hedge funds is even greater as interest rates remain high, despite recent cuts, because passive investing is "not as reliable as it was before."

Persons: Robyn Grew Robyn Grew, Grew Organizations: Man, CNBC Locations: outflows

☆ The smart money is bracing for a stock-market pullback with 2 options strategies. Why one works better in the current environment.
▼ + stars: | 2024-10-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Investors are seeking S&P 500 downside protection as rate cuts shift focus to growth concerns. S&P 500 long-dated put options are a preferred approach int he current market environment. Demand for downside protection on the S&P 500 is starting to build. But one approach that's beginning to pick up, with advantages in the current market environment, is hedging S&P 500 downside through options contracts. Annually, the CBOE Volatility Index (VIX) — a measurement of implied volatility — gradually rises starting in the middle of summer and into October.

Persons: —, Tanvir Sandhu, Sandhu, Brent Organizations: Service, Bloomberg Intelligence

Twice this year, US forces in the region have assisted Israel in intercepting an attack by Iran. Austin announced in early August that he was sending the USS Abraham Lincoln Carrier Strike Group to the region; it arrived later that month. The strike group consists of thousands of sailors and Marines, spanning across three destroyers and a carrier air wing. The USS Spruance and USS Frank E. Petersen Jr., also both guided-missile destroyers that are part of the strike group, were operating in the Red Sea. In addition to the firepower brought by the Lincoln strike group, the Navy has a number of other destroyers and capabilities in the region.

Persons: Israel, Lloyd Austin, Austin, Abraham Lincoln, Spruance, Frank E, Petersen, Bulkeley, Arleigh Burke –, Murphy, Stockdale, Sabrina Singh Organizations: Washington CNN, Israel, Navy, Iranian, Defense, Abraham Lincoln Carrier Strike Group, Lincoln, 24th Marine Expeditionary Unit, Marines, USS, Air Force, Pentagon, US Central Command, Army, Patriot, High Mobility Artillery Rocket Systems Locations: East, Israel, Iran, Iraq, Syria, Iranian, Gulf of Oman, Red, York, Lebanon, Cole, Indianapolis

☆ The best geopolitical hedges from gold to oil and even stocks
▼ + stars: | 2024-10-04 | by ( Sean Conlon | Kavitha Shastry | ) www.cnbc.com time to read: +2 min

For those looking to hedge against geopolitical risk, stocks are actually a pretty good way to do so, along with oil and gold. Bank of America looked at the best performers in the three and six months after major geopolitical events, including the Iraq War and Russia's invasion of Ukraine . The investment bank found that oil has historically been the best performer in the three months following major geopolitical events, generating a median return of 8.3%. On the other hand, gold is the best geopolitical hedge in the six months after such episodes. "[B]ad geopolitical events have not been bearish for risk assets in recent years, arguably the opposite," analyst Michael Hartnett wrote in a Thursday note.

Persons: –, They've, Michael Hartnett, Hartnett Organizations: Bank of America Locations: Iraq, Ukraine, Israel, Iran, Russia, China, Taiwan

☆ CVS is under pressure and considering a break up. Here's why that could be risky
▼ + stars: | 2024-10-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +11 min

In this article CVS Follow your favorite stocks CREATE FREE ACCOUNTA sign outside of a CVS pharmacy store on February 07, 2024 in Miami, Florida. That means Caremark also sits at the intersection of CVS' retail pharmacy operation and its Aetna insurer, boosting the competitive advantage of both of the businesses. A workers stocks the shelves in a CVS pharmacy store on February 07, 2024 in Miami, Florida. An Oak Street Health clinic stands in a Brooklyn neighborhood on February 08, 2023 in New York City. A general view shows a sign of CVS Health Customer Support Center in CVS headquarters of CVS Health Corp in Woonsocket, Rhode Island, U.S. October 30, 2023.

Persons: Joe Raedle, Caremark, Rajiv Leventhal, Karen Lynch, Lynch, Brian Kane, Jefferies, Brian Tanquilut, Elizabeth Anderson, Anderson, it's, eMarketer's Leventhal, Tanquilut, Ann Hynes, Spencer Platt, they're, Michael Cherny, Cherny, Faith Ninivaggi Organizations: Getty, CVS Health, CVS, CNBC, Aetna, Monday, Glenview Capital, Glenview, UnitedHealth, Humana, Walgreens, Street Health, Oak, Health, Mizuho, Oak Street Health, Amazon, Walmart, Oak Street, Leerink Partners, Affordable, Medicare, CVS Health Corp Locations: Miami , Florida, U.S, Aetna, Caremark, Brooklyn, New York City, Texas and Illinois, Woonsocket , Rhode Island

☆ Israel’s economy is paying a high price for its widening war
▼ + stars: | 2024-10-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.

Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, ‘, Menahem Kahana, ”, “ Israel, “, Smotrich —, Flug, Ahmad Gharabli, Fitch, —, Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism

☆ CNN requested an interview with Melania Trump. Her book publisher asked for $250,000 in exchange
▼ + stars: | 2024-10-03 | by ( Hadas Gold | Pamela Brown | ) edition.cnn.com time to read: +8 min

CNN —Nearly two months ago, CNN reached out to Melania Trump’s book publisher to request an interview with the former first lady ahead of her upcoming memoir. After several exchanges about a possible interview, the publisher sent an unusual demand last week: an interview would cost $250,000. Melania Trump’s spokesperson declined comment. Spokespeople for ABC, NBC and CBS declined to comment on whether they received a similar request for payment from Trump’s publisher. But in this case, the Trump campaign hasn’t been involved in Melania Trump’s book rollout.

Persons: Melania, ”, ” Tony Lyons, “, ” Lyons, Melania Trump’s, Donald Trump’s, Melania Trump, Trump, Lyons, Simon, Simon & Schuster, Marc Beckman, CNN –, “ It’s, Kate Anderson Brower, Grace, ” Anita McBride, George W, Bush, ” McBride, I’ve, Ainsley Earhardt, Fox’s Sean Hannity, Trump’s, it’s, Kelly McBride, Craig Newmark, Anita McBride, Casey Anthony, George Stephanopoulos, recusing, ABC’s, McBride, hasn’t, Donald Trump, CNN’s Brian Stelter Organizations: CNN, Skyhorse Publishing, ” CNN, ” Records, NDA, Simon &, American University, Fox News, ABC, NBC, CBS, Guardian, Ethics, The Poynter Institute, ABC News, Wednesday, Washington, Clinton Foundation, Poynter Institute, Trump

☆ 40% of Americans plan to retire with $1 million or more—it might not be enough
▼ + stars: | 2024-10-03 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

A million dollars isn't the symbol of wealth that it used to be, but saving that much for retirement is still rare. In fact, among those currently saving for retirement, 57% say the amount they're hoping to save is less than $1 million. If you withdraw money from your portfolio too fast, you drastically decrease the chances that the money will last for your entire retirement. Divide that figure by 4%, and you'll arrive at the amount you'll need to retire with: $2.5 million. If you plan to retire with $1 million, by the same calculation you can expect to withdraw $40,000 in your first year.

Persons: you'll Organizations: CNBC, SurveyMonkey, Security

☆ Why Iran relies on ballistic missiles to threaten its adversaries
▼ + stars: | 2024-10-03 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

"Iran uses ballistic missiles as a replacement for aircraft," a regional expert said. Iran used more ballistic missiles than the 120 it launched during its April barrage, its first direct attack on Israel. Iran has also shown a preference for firing ballistic missiles against less-defended targets closer to home. Since 2017, Iran has also used its ballistic missiles against ISIS in Syria, following terrorist attacks in Iran and, on one occasion, alleged militant targets in Pakistan. In January 2024, Tehran even used ballistic missiles to destroy a businessman's residence in neighboring Iraqi Kurdistan.

Persons: —, Nicholas Heras, Sebastien Roblin, Roblin, Institute's Heras, Heras Organizations: Service, Israel, US Navy, New Lines Institute, Ballistic, ISIS, Islamic Revolutionary Guard Corps, Israeli Air Force, Iranian, West Bank, Patriot Locations: Iran, Israel, Tel Aviv, Jordan, Iraq, Syria, Pakistan, Iranian, Tehran, Iraqi Kurdistan, AFP Iran, East, Russia

☆ 'Your Rich BFF' finance creator has struck a new deal with Vox Media as the influencer podcasting space heats up
▼ + stars: | 2024-10-03 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +5 min

Finance creator Vivian Tu's podcast has a new home at Vox Media and wellness brand PS. Vox Media and Tu share why the partnership made sense and what helped seal the deal. Now, 30-year-old Tu is partnering with Vox Media and the newly rebranded wellness brand PS, formerly known as PopSugar, to launch a second season of the podcast. Vox Media was one of many suitors vying for the chance to collaborate with Tu, but they won because of an aligned vision and handing over creative control. AdvertisementAccording to Xu, Vox Media and Tu will work very closely together on the podcast's sales, marketing, and distribution, such as posting teasers of new episodes across Your Rich BFF and PS' social media accounts.

Persons: Vivian Tu's, —, Vivian Tu, Morgan, Tu, Ryan Serhant, Cassey Ho, Ankur Jain, I'm, Alix Earle, Jake Shane, It's, Gen Zers, millennials, they're, Vivian, there's, Lillian Xu, Vox, Xu, Rich BFF, you've Organizations: Vox Media, Service, YouTube, Business, Spotify

☆ Active bond funds put up a strong performance — and they may be poised to stand out as rates fall
▼ + stars: | 2024-10-03 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +5 min

Over the 12-month period ending June, about 2 of 3 active bond managers trounced their average passive counterpart, according to a recent analysis from Morningstar . There were a few tailwinds in active managers' favor. With the Fed recently cutting rates by a half point — and Chair Jerome Powell noting that two more quarter-point cuts could be in the cards this year — a new challenge awaits these active bond funds. As interest rates fall, active managers can position accordingly, said Roger Hallam, global head of rates at Vanguard. "We expect active managers to make a little more, and they should be because they're doing more trades and it costs more to manage active portfolios," said Olmsted.

Persons: —, Ryan Jackson, Jerome Powell, it's, Jackson, Paul Olmsted, Roger Hallam, wouldn't, Hallam, Morningstar, Olmsted Organizations: Federal Reserve, Morningstar, Vanguard, Bond Fund, SEC

Miami Dolphins are in advanced talks to sell minority stake in team to Ares Management, billionaire Joe TsaiThe Miami Dolphins are in advanced talks to sell a minority stake in the team to private equity firm Ares Management and billionaire Joe Tsai, CNBC has learned, highlighting the growing trend of owners looking to build their sports portfolios to include multiple teams and operate their own stadiums to maximize revenue. CNBC has valued the Miami Dolphins as the league's eighth most valuable team at $7.1 billion, which does not include the stadium. The Miami Dolphins and the NFL declined to comment, and Tsai's BSE Global did not immediately respond to a request for comment. Businessman Stephen Ross purchased the Miami Dolphins in 2009 for $1.1 billion. This allows him to bring in revenue from events held at the stadium such as the Miami Grand Prix and Miami Open tennis tournament.

Persons: Joe Tsai, Ares, Tsai, Stephen Ross, Ross Organizations: Miami Dolphins, Ares Management, CNBC, Hard, Miami Grand Prix, Miami, NFL, Brooklyn Nets, Bloomberg, BSE Global, Miami Open, Dolphins, Formula, Prix

☆ Hedge funds are piling into Chinese stocks like never before as sweeping stimulus sparks enthusiasm
▼ + stars: | 2024-10-03 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Beijing's rare stimulus blitz unleashed newfound optimism from hedge fund investors, who have been piling into beaten-down Chinese stocks like never before. Hedge funds started flocking to Chinese stocks after the government announced a flood of stimulus measures in a bid to revive growth and avoid a deep slump in the world's second largest economy. The high-profile investor even said he's raising his usual allocation limit and is not hedging his big China bet. He dove into Chinese internet stocks last quarter as Burry's hedge fund, Scion Asset Management, made Alibaba its top holding at the end of June. KWEB 5D mountain KraneShares CSI China Internet ETF Beijing's big stimulus also prompted BlackRock, the world's largest asset manager, to upgrade Chinese stocks to overweight — with a caveat.

Persons: Goldman Sachs, David Tepper, Tepper, Burry It's, bullish, Nick Wilcox, Michael Burry, Stanley Druckenmiller, he's Organizations: Appaloosa Management, CNBC, China . Man, Man, Scion Asset Management, Baidu, CSI China, BlackRock, U.S Locations: China, Taiwan

☆ Buffer ETFs can shield investors from some losses. Here's what to know before investing
▼ + stars: | 2024-10-03 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Buffer ETFs, also known as defined-outcome ETFs, use options contracts to offer investors a pre-defined range of outcomes over a set period. As of August 2024, there were 327 buffer ETFs, representing more than $54.8 billion in assets, up from 73 such ETFs and roughly $4.6 billion in August 2020, according to data from Morningstar Direct. For example, a buffer ETF could shield investors from the first 10% of losses while limiting upside returns to 15%. Another downside is the assets have higher fees than traditional ETFs, with 0.8% for the average buffer ETF compared to 0.51% for the average ETF, Armour said. The benefits of buffer ETFs

Persons: Jordi Mora Igual, Bryan Armour, Armour Organizations: North America, Morningstar, Morningstar Direct

George Gascón, the Los Angeles district attorney, said on Thursday that his office was reviewing a decades-old case involving the brothers Lyle and Erik Menendez, who killed their parents in their Beverly Hills home and were sentenced to life in prison. The case in the 1990s was one of the first to draw a daily national audience to a televised criminal trial. Defense lawyers for the brothers argued that they had been sexually molested for years by their father, and had killed out of fear. Mr. Gascón wouldn’t indicate which way he was leaning, but his remarks indicated that the sex abuse claims are among the aspects his office was reviewing. He said his office was divided over whether the brothers should remain in prison for the rest of their lives.

Persons: George Gascón, Lyle, Erik Menendez, Prosecutors, Gascón Organizations: Beverly Hills Locations: Los Angeles, Beverly

☆ Iran's massive missile strike on Israel is just a fraction of what China could do
▼ + stars: | 2024-10-03 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

Iran launched a massive ballistic missile strike on Israel this week, what appears to be the largest ever. The attack represents just a fraction of the scale, devastation, and capabilities a China missile strike could have, experts said. AdvertisementIran launched a major missile strike on Israel earlier this week likely intended to overwhelm the country's air defenses and inflict significant damage. The Iranian attack was massive, perhaps the largest ballistic missile strike in history, but it represents just a fraction of the scale and capabilities of what a Chinese missile attack could look like. AdvertisementA massive missile strikeIran previously launched a missile strike on Israel in April, using ballistic missiles, cruise missiles, and drones.

Persons: —, Bailee Ann Darbasie, Tom Karako, Amir Cohen, Hassan Nasrallah, Ismail Haniyeh, wasn't, Cole, USS Bulkeley, Karako, Thomas Shugart, Liu Mingsong, Shugart, Xi Jingping's, GREG BAKER Organizations: Service, Department of Defense, Army's, Force, U.S . Air Force, Staff, Center for Strategic, International Studies, Missile Defense, Reuters, Air, US, Iranian, US Navy, Center, New, New American Security, Pentagon, Getty, Area Defense, Aegis, Pacific Command Locations: Iran, Israel, China, Taiwan, Chinese, Ukraine, New American, Xinhua, AFP, Japan

☆ Investing giants want to offer retail traders access to a booming sector of financial markets
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

It would give retail investors access to a $1.7 trillion market. It could be tricky, as private credit tends to be illiquid while ETF investors need high liquidity. According to The Wall Street Journal, some of the biggest private equity and investment management giants want to offer retail investors access to exchange-traded funds backed by private credit. The race to launch private credit ETFs has heated up in recent months. Last month, State Street proposed a private debt ETF to the Securities and Exchange Commission.

Persons: —, Anna Paglia, Paglia, Eric Mogelof Organizations: Service, Wall Street, Apollo Global Management, BlackRock, Capital Group, KKR, Securities and Exchange Commission, Street's

☆ 4:30 a.m. wakeups and scary speakers: Inside Apollo's tactics to prepare its workers for an uncertain future
▼ + stars: | 2024-10-03 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +7 min

Rowan said the firm is testing new tactics to motivate employees to "play to win." Here's how and why the firm has turned to frozen yogurt and 4:30 a.m. wakeups. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Advertisement"We believe that assets are what is going to be scarce rather than capital," Rowan said, referring to an environment of more limited investment opportunities.

Persons: Rowan, —, Marc Rowan, We've, Lehman, I've, They're, it's Organizations: Service, New, Apollo, Nvidia, that's

☆ OpenAI's investors include Silicon Valley's most prolific bubble chasers. Is that a bad sign for the company's future?
▼ + stars: | 2024-10-03 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

AdvertisementOpenAI has officially closed a historic funding round. AdvertisementTiger Global is also one of the firms that backed OpenAI in this latest funding round. AdvertisementNotably absent from the list of OpenAI investors was Apple, which is said to have dropped out of the deal at the 11th hour. Apple's inclusion in OpenAI's funding round may have gone a long way toward quieting doubts about OpenAI's palace intrigue and general chaotic vibe. A few weeks ago, this funding round was being talked about as the arrival of the adults in the room.

Persons: OpenAI, —, Adam Neuman, Masayoshi Son, Neuman, SoftBank, Morningstar, You'd, Goldman Sachs, Tim Cook, Cook, Elon Musk Organizations: Nvidia, United, United Arab Emirates, Service, SoftBank's, Business, Ark Venture, BI, Apple Locations: United Arab, Silicon, Silicon Valley

☆ A trio of crises threatens to upend the race 5 weeks before Election Day
▼ + stars: | 2024-10-03 | by ( Alice Tecotzky | Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

A trio of emergencies has all struck just five weeks ahead of the 2024 presidential election. Both Donald Trump and Kamala Harris will be forced to reckon with the crises in the final days of their campaigns. AdvertisementViolence in the Middle East, a massive labor strike among East Coast and Gulf Coast dockworkers, and the devastation of Hurricane Helene all struck with only five weeks before the 2024 presidential election. "What we've seen out of Vice President Harris is we've seen steady leadership," he said when talking about the Middle East. What matters most now is how the candidates' messaging lands with specific communities impacted by these crises, Loge said.

Persons: Hurricane Helene, Donald Trump, Kamala Harris, —, Israel, Peter Loge, David Jones, Trump, Joe Biden, Randall Adkins, Adkins, Loge, it's, Sen, JD Vance, Tim Walz, Vance, Harris, Walz, Biden, she's, BRYAN R, SMITH, Jones, Grace Cary, Helene Organizations: Service, East, School of Media, Public Affairs, George Washington University, Baruch College, City University of New, Trump, University of Nebraska, Gov, Logistics, JPMorgan, Getty, Biden Locations: Hurricane, East Coast, Gulf Coast, East, Middle, Iran, Israel, Lebanon, Tehran, City University of New York, University of Nebraska Omaha, American, Arizona, Georgia, Wisconsin, North Carolina, Michigan

Harris will visit Georgia, which former President Donald Trump toured Monday and where he criticized Harris and the Biden administration for their response to the hurricane. Biden is first scheduled to land in Greenville, South Carolina, where he will participate in an aerial tour of storm damage. The White House said that during Harris' visit to Georgia, she will get an on-the-ground briefing about the recovery efforts. A White House official said Harris will travel to North Carolina in the coming days. The White House also said Biden would travel to Georgia and Florida "as soon as possible."

Persons: Joe Biden, Kamala Harris, Hurricane Helene, Biden, Harris, Donald Trump, Roy Cooper, Deanne Criswell, It’s, Cooper, Criswell, Trump, Brian Kemp hadn't, we’ve Organizations: North Carolina Gov, Federal Emergency Management Agency, FEMA, White, Democratic, Monday, Georgia Gov, Biden, Trump Locations: Hurricane, North Carolina, South Carolina, Florida, Tennessee, Virginia, Georgia, Greenville , South Carolina, Raleigh , North Carolina, Asheville, North Carolina's Appalachia, Valdosta , Georgia

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