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☆ How China uses tech to transform traditional industries to outcompete
▼ + stars: | 2024-08-12 | 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 EmailEvan Feigenbaum on how China uses tech to transform traditional industries to outcompeteEvan Feigenbaum from Carnegie Endowment for International Peace says while China will speed up indigenizing frontier technology given the pressure from the U.S., the country is increasingly using technology to transform traditional industries to lock in dominance.

Persons: Evan Feigenbaum, outcompete Evan Feigenbaum Organizations: China, Carnegie Endowment, International Locations: China, U.S

☆ 2 renowned strategists say the US should defend Taiwan with nuclear strikes. Experts say such talk is just a taste of what's to come.
▼ + stars: | 2024-08-02 | by ( Matthew Loh | ) www.businessinsider.com time to read: +13 min

The US once floated nuclear retaliation in 1958 if China invaded Taiwan, and stationed nuclear weapons on the island until 1974. It would essentially tell Beijing that an invasion of the island risks nuclear war, he said. "What's the benefit of reassuring Xi that our nuclear weapons are not relevant?" "So relatively low-yield nuclear weapons could destroy that amphibious force and do little to no collateral damage onshore in Taiwan." He added that threatening war — much less nuclear war — over Taiwan would be deeply unpopular at home.

Persons: —, David Kearn, Kearn, — he'd, Greg Weaver, Weaver, Obama, Matthew Kroenig, James Acton, Greg, Matt, Kroenig, Lyle Goldstein, Goldstein, we're, Acton, Francesca Giovannini, Giovannini, Xi Jinping, Xi, It's, Marshall Billingslea, Billingslea, Rebeccah Heinrichs, Jake Werner Organizations: Service, John's, Atlantic Council, Pentagon, Business, RAND, US Defense, Joint Chiefs of Staff, Defense Department, Nuclear, Carnegie Endowment, International, China Initiative, Brown University, International Peace, Harvard University's Kennedy, Georgetown University, US State Department, Hudson, Keystone Defense Initiative, Kroenig, East Asia, Quincy Institute, Responsible, Johns University Locations: St, Taiwan, China, Beijing, Washington, Korea, Japan, Taiwan Strait, Washington , DC, Guam, South China, Russia, United States, Bejing, South Korea

☆ Biotech and more: Hold these growth stocks for the next 10 years, the pros say
▼ + stars: | 2024-08-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Growth stocks have been volatile, with tech names going through wild swings in recent weeks. On the whole, growth stocks are up this year, although they recently fell slightly. What are some of such stocks that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors who focus on growth stocks for some ideas. There are two segments in this business: original equipment and aftermarket, according to him.

Persons: Russell, TransDigm, Casey's, Janjigian Organizations: Nasdaq, . Federal Reserve, CNBC Pro, Waste Management, Republic Services Group, Carnegie Investment, Greenwich Wealth Management, U.S . Food, Drug Administration

☆ Killing of Hamas leader leaves Gaza ceasefire hopes dangling by a thread
▼ + stars: | 2024-07-31 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

CNN —The assassination of the political leader of Hamas has plunged the Middle East into fresh crisis and dented already slim hopes of an end to the war between Israel and the militant group that rules Gaza anytime soon. Here’s what the killing of the Hamas and Hezbollah leaders means for the Gaza war and the region. “Netanyahu has systematically sabotaged ceasefire talks because ending the war will likely end his political career,” said Trita Parsi of the Quincy Institute, a US-based foreign policy think tank, in a post on X. A faltered negotiation process also extends the risk to the lives of the remaining hostages in Gaza. “This is the time for a deal.”There are 111 hostages still in Gaza, including 39 believed to be dead, according to data from Netanyahu’s office.

Persons: Israel, Ismail Haniyeh, Haniyeh, ”, Yahya Sinwar, Mohammed bin Abdulrahman, Benjamin Netanyahu, –, “ Netanyahu, “, Netanyahu, Jalaa Marey, Gershon Baskin, Baskin, ” Baskin, Gaza’s, Anwar, Antony Blinken, Biden, ” Hellyer, CNN’s Becky Anderson Organizations: CNN, Hamas, Quincy Institute, Palestinian, Getty, Families, Anwar Amro, Hellyer, Carnegie Endowment, International Peace, Royal United Services Institute for Defense, Security Studies, Israel Locations: Israel, Gaza, Tehran, Iran, Beirut, Golan, Qatar, Egypt, Mohammed bin Abdulrahman Al, Thani, Doha, US, Karmiel, AFP, Beirut's, United States, London

☆ Mercury could have an 11-mile underground layer of diamonds, researchers say
▼ + stars: | 2024-07-31 | by ( Jacopo Prisco | ) edition.cnn.com time to read: +11 min

This mechanism, the researchers say, can not only give us more insight into the secrets hidden below Mercury’s surface, but on planetary evolution and the internal structure of exoplanets with similar characteristics. Mercury owes its gray surface to the widespread presence of graphite, which is a form of carbon. Also known as the Mercury Surface, Space Environment, Geochemistry and Ranging mission, it gathered data about the planet’s geology, chemistry and magnetic field, before the spacecraft ran out of fuel and impacted the surface. “However, some lavas at the surface of Mercury have been formed by melting of the very deep mantle. “Only future missions to the planet Mercury will tell whether these predictions were correct.

Persons: ”, Bernard Charlier, it’s, Yanhao Lin, ” Charlier, Lin, Charlier, —, Giuseppe “ Bepi ”, Sean Solomon, Solomon, landers, ” Solomon, BepiColombo, Manley, Felipe González, González, ” González, “ Organizations: CNN, Mercury, University of Liège, NASA, Johns Hopkins University Applied Physics Laboratory, Carnegie Institution of Washington Mysterious, Center for, Science, Technology, Research, Nature Communications, MESSENGER, European Space Agency, Japan Aerospace Exploration Agency, Columbia University, ESA, University of California Locations: Mercury, Belgium, Beijing, Italian, Giuseppe “ Bepi ” Colombo, New York City, Berkeley

☆ Tesla car that killed Seattle motorcyclist was in ‘Full Self-Driving’ mode, police say
▼ + stars: | 2024-07-31 | by ( ) edition.cnn.com time to read: +2 min

Reuters —A Tesla Model S car was in “Full Self-Driving” mode when it hit and killed a 28-year-old motorcyclist in the Seattle area in April, police said, making it at least the second fatal accident involving the technology on which Tesla CEO Elon Musk is pinning his hopes. Tesla says its “Full Self-Driving (Supervised)” software requires active driver supervision and does not make vehicles autonomous. Previously, the National Highway Traffic Safety Administration (NHTSA) said there was one fatal accident involving a Tesla vehicle using FSD software between August 2022 and August 2023. This year, Musk shelved Tesla’s all-new affordable cars and increased his bets on self-driving vehicles, saying he will be shocked if Tesla cannot achieve full self-driving capability next year. In December 2023, Tesla was forced to recall nearly all its vehicles on U.S. roads to add safeguards to the software.

Persons: Elon Musk, Tesla, Waymo, Sam Abuelsamid, ”, Raj Rajkumar, Musk Organizations: Reuters, Tesla, Traffic Safety Administration, NHTSA, Carnegie Mellon University Locations: Seattle, Silicon

Image A photo of Fuad Shukr, from a wanted poster released by the U.S. State Department. Rewards for Justice, via Associated PressIt was not immediately clear whether Mr. Shukr, also known by his nom de guerre al-Hajj Mohsin, survived the Israeli assassination attempt. Assaf Orion, a retired Israeli brigadier general, described Mr. Shukr as “an experienced veteran” who had worked intensively to develop Hezbollah’s precision-guided missile apparatus. Analysts say the munitions are a particular concern for Israeli military planners. “It’s kind of run by committee, but Fuad Shukr is more or less first among equals,” he said, adding that Mr. Shukr reported directly to Mr. Nasrallah.

Persons: Fuad Shukr, Shukr, guerre, Hajj Mohsin, ”, Hassan Nasrallah, Mustafa Badreddine, Assaf, Matthew Levitt, Mohanad Hage Ali, Mr, Levitt, “, Nasrallah, Ronen Bergman Organizations: U.S, U.S . State Department . Credit, Justice, Associated, The State Department, Hezbollah, Washington Institute for Near, Carnegie Middle East, Israel Locations: Beirut, Golan, Syria, American, Israeli, Lebanon

☆ The Israel-Hezbollah war that no one wants could finally blow up
▼ + stars: | 2024-07-28 | by ( Analysis Elliott Gotkine | ) edition.cnn.com time to read: +4 min

“We are approaching the moment of an all-out war against Hezbollah,” he said in an Israeli television interview on Saturday evening. And yet, over the past near-10 months of fighting, Israel, Hezbollah and Iran have always pulled back from what appeared to be the brink. All-out war failed to materialise. All-out war failed to materialise. The best way to avoid all-out war between Israel and Hezbollah, says Blinken, is to get a ceasefire in Gaza.

Persons: Amos Hochstein, Joe Biden’s, ”, Majdal Shams, Will Hochstein’s, Israel Katz, Antony Blinken, We’re, Naftali Bennett, “, Aaron David Miller, Israel, can’t, Yoav Gallant, didn’t Organizations: CNN, Carnegie Endowment, International Peace, Iranian Revolutionary Guards Corps, UN, Israeli Locations: Israel, Lebanese, Golan, Chebaa, Lebanon, Majdal, United States, Iran, Beirut, Damascus, Gaza

☆ Buy and hold these 5 attractively valued growth stocks for the next decade, the pros say
▼ + stars: | 2024-07-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Growth stocks have been rallying for most of this year, though they've been volatile recently. Investors rotated out of mega-cap tech stocks for smaller names last week, as expectations of rate cuts in September grow. But overall, growth stocks have still gained this year, with the large-cap Vanguard Russell 1000 Growth ETF still up nearly 20% this year. What are some of such stocks that are still attractively valued that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors who focus on growth stocks for some ideas.

Persons: Russell, Deere, Big Tech Nick Griffin, it's Organizations: CNBC Pro, Carnegie Investment, Deere, Mastercard, Visa, Big Tech, Munro Partners, Microsoft

☆ We live in hotels full-time with our 14-month-old baby. We won't be settling in the suburbs.
▼ + stars: | 2024-07-24 | by ( Megan Carnegie | ) www.businessinsider.com time to read: +8 min

When my wife got pregnant with our 14-month-old Noah, we continued traveling throughout the pregnancy and Noah's infancy. Yusuf OmarAdapting Noah to nomad lifeSumaiya: Now, we're building our company and raising Noah, our 14-month-old, as best we can. AdvertisementSumaiya and Yusuf Omar flying with baby Noah. When we're on business trips, hotels are a business expense, which is the majority of why we travel. In addition to hotels, we've also spent short stints at our parents' homes and lived in a rented van.

Persons: —, Yusuf, Sumaiya Omar, Noah, Sumaiya, Noah's, Noah Omar, Yusuf Omar, COVID, Yusuf Omar Living, we're, Yusuf Omar Sumaiya, we've, Yusuf Omar We, Omar, London Yusuf Omar Yusuf, nannies, Yusuf Omar Yusuf Organizations: Service, Business, Hindustan Times, CNN International, CNN, UN Locations: London, Sumaiya, Durban, South Africa, Gold Coast, Australia, India, Sydney, isn't, New York

☆ What the West's foes may be learning from the Ukraine war
▼ + stars: | 2024-07-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +8 min

AdvertisementShe explained that from a tactical perspective, Ukraine and Russia are learning much about each other, and in response, the cycles of adaptation and countermeasures are rapidly compressing. "Russia's allies and their partners are learning from them, and this is now a currency that Russia has to give to Iran, China, North Korea — that learning of our equipment." Iran and North Korea have collectively outfitted Russia with a bunch of lethal aid, including missiles, rockets, artillery shells, and drones. Photo by ANONYMOUS/Middle East Images/AFP via Getty ImagesChina's support for Russia as it wages war in Ukraine has been more discreet. Experts and officials have also said that North Korea is likely learning about how its weapons perform in actual combat conditions.

Persons: —, Dara Massicot, Massicot, Baiba Braže, Alina Smutko, Tehran's, Abrams, ALEXANDER NEMENOV, It's, Luke Coffey, Iran's Organizations: Service, NATO, Business, Carnegie Endowment, International, Latvia's, Mechanized Brigade, REUTERS, Getty, CNN, Russian, Army Tactical Missile, West, Ukraine —, Hudson Institute, North, General Staff, Ukrainian Armed Forces, Institute for, Ukraine Locations: Ukraine, Russia, Washington, Iran, China, North Korea, Moscow, Iranian, Kermanshah, Beijing, Tehran, Pyongyang, AFP, Israel, Korea, Ukrainian, X

☆ A personal finance TikToker claims unlimited PTO is the 'biggest scam.' Career experts say she has a point.
▼ + stars: | 2024-07-18 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

Read previewA personal finance creator said she wanted to remind people that working at a company with unlimited vacation days was a "scam." In a recent video that amassed more than 800,000 views, she said unlimited PTO saves a company "millions if not billions of dollars." AdvertisementCritics have also labeled unlimited PTO a "sham" that can lead to employees actually taking fewer days off than they should and getting burned out. AdvertisementChang also doesn't believe unlimited PTO has any mental health benefit, and that unlimited mental health leave "would be far more beneficial and appreciated" by workers. Ultimately, unlimited PTO means "no time off," she said, "because people don't feel free to take it because it's not technically theirs."

Persons: —, Jessica, Jeanie Y, Chang, let's, Denise Rousseau, Rousseau, it's, they're, It's, Daniela Herrera, Herrera Organizations: Service, Business, Carnegie Mellon University, Companies, Allies, Recruiting

☆ Chaos on social media platforms after Trump shooting is a mess of their own making
▼ + stars: | 2024-07-17 | by ( Brian Fung | ) edition.cnn.com time to read: +12 min

None of the country’s largest social media platforms responded to repeated questions from CNN over multiple days this week about what actions they have taken in response to misinformation and conspiracy theories circulating about the Trump rally shooting. And what the public experienced on social media in the moments after the attack on Trump is a sign of what’s to come, said Imran Ahmed, CEO of the Center for Countering Digital Hate (CCDH), a social media watchdog group that advocates for tighter regulation of the platforms. “It can’t make a safe social media product that does politics and civic stuff, and so it just got out of that business.”Baybars Orsek, managing director of the fact-checking organization Logically Facts, said these and other changes by social media platforms have made working with them in the last few years more challenging. The decision effectively means the US government can continue to flag misinformation threats to social media companies in the runup to the 2024 election. Mainstream media outlets, taking care to report only credible answers, were initially slower to report what was happening than the breakneck pace of social media speculation.

Persons: Donald Trump, bode, “, Joe Biden, Biden, Snapchat, ”, Imran Ahmed, ” Ahmed, Elon Musk’s, Musk, CCDH, X, TikTok, “ Meta, Laura Edelson, ” Baybars Orsek, ” Orsek, Trump, Edelson, Alicia Wanless, “ I’ve, ” Wanless, Wanless Organizations: CNN, Meta, Twitter, YouTube, Department of Homeland Security, Big Tech, Trump, Google, Center, Social, Northeastern University, Democracy, Supreme, Facebook, Carnegie Endowment, International Peace

☆ Fact-checking night 3 of the Republican National Convention
▼ + stars: | 2024-07-17 | by ( Cnn Staff | ) edition.cnn.com time to read: +7 min

CNN —Night three of the Republican National Convention has kicked off in Milwaukee. From CNN’s Haley BritzkyRep. Ronny Jackson’s false claim of ‘record-high inflation’Rep. Ronny Jackson of Texas claimed in his Republican National Convention speech on Wednesday that there has been “record-high inflation” under the Biden administration. From CNN’s Haley BritzkyRNC video falsely claims there was peace in the Middle East under TrumpA video played early in the Republican National Convention proceedings on Wednesday night claimed that the “strength” of President Donald Trump kept “the Middle East at peace.” Republican National Committee Chairman Michael Whatley had similarly claimed in his convention speech on Monday that the Middle East was “at peace” four years ago under Trump. Dana El Kurd, senior nonresident fellow at the Arab Center Washington DC think tank, also called that claim “false” when Trump made it. She said in a November email: “The Abraham Accords did not achieve peace in the Middle East.

Persons: Newt Gingrich, Trump, Biden, –, Jennifer Hansler, Richard Grenell, Joe Biden “, ”, Joe Biden, ” Grenell, Donald Trump’s, “, CNN’s Haley Britzky, Ronny Jackson’s, Ronny Jackson, Jackson, Biden –, Daniel Dale, Michael Whatley, “ They’ve, Charlie Dietz, Donald Trump, Abraham, Aaron David Miller, ” Miller, Dana El Kurd, Joe Biden’s Organizations: CNN, Republican National Convention, Trump Former Republican, Defense, Trump intel, National Intelligence, ISIS, United, Taliban, Afghanistan Reconstruction, Russian, Russian Navy, Pentagon, State Department, NATO, Trump, Republican, ” Republican National, Abraham Accords, United Arab Emirates, West Bank, Hezbollah, Carnegie Endowment, International, Arab Center Washington DC, The Defense News, Heritage Foundation Locations: Milwaukee, Afghanistan, United States, ”, Doha, Texas, Cuba, Russia, Ukraine, Havana , Cuba, Russian, Kazan, Havana, Bahrain, Israel, Morocco, Sudan, Yemen, Syria, Gaza, Lebanon, Iran, Iraq, Palestine, China, “, America

☆ Opinion: In Gaza, fear of ‘the war after the war’
▼ + stars: | 2024-07-15 | by ( Opinion Arwa Damon | ) edition.cnn.com time to read: +10 min

Without rule of law, without a peacekeeping force, without humanitarian aid, Gaza will combust and descend into civil chaos. This route is used by both commercial and aid trucks, as well as convoys like the one I am in, transporting aid workers. Palestinians storm trucks loaded with humanitarian aid brought in through a new US-built pier in central Gaza on May 18. They are waiting to ambush aid trucks, but they smile and wave at our far less tempting UN-marked jeeps. A fear of “the war after the war.” Some believe it has started already.

Persons: Arwa Damon, Arwa Damon CNN, Kerem Shalom, Karam Abu Salem, “, Karam Abu, Benjamin Netanyahu, Abdel Kareem Hana, David Satterfield, Menahem Kahana, ”, I’ve Organizations: CNN, International Network for Aid, Relief, Gazans, ”, Israel’s, KS, State Department, Carnegie Endowment, Coordination Locations: Gaza, Rafah, Egypt, Israel, Karam Abu Salem, Middle East, Kerem, AFP, Israeli, Territories, COGAT, shrugging, Baghdad

☆ MTG and Lauren Boebert are incendiary lawmakers who helped 'normalize' a climate of violence that led to the Trump shooting, a political expert says
▼ + stars: | 2024-07-15 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewPolitical leaders like Rep. Marjorie Taylor Greene and Rep. Lauren Boebert have created an environment in the US where violence is normalized, a political violence expert said in the wake of former President Donald Trump's attempted assassination. Rachel Kleinfeld, an expert on political violence, told Politico she thinks it's "political leaders like Marjorie Taylor Greene or Lauren Boebert or so on" who've been "amplifying the extremes" in the country. After the shooting, Greene blamed the incident on the Democratic Party. On Sunday — less than a day after the Trump rally shooting — senior lawmakers like House Speaker Mike Johnson asked people to cool it with the heated rhetoric. Representatives for Trump, Greene and Boebert did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Marjorie Taylor Greene, Lauren Boebert, Donald Trump's, Rachel Kleinfeld, it's, Kleinfeld, Trump, Greene, …, FKQ4SWzs5s — Marjorie Taylor Greene 🇺🇸 ( Organizations: Service, Politico, Business, Carnegie Endowment, International, Democratic Party, Democrat, Democrats Locations: Butler , Pennsylvania

☆ Tampons contain lead, arsenic and potentially toxic chemicals, studies say. Here’s what to know
▼ + stars: | 2024-07-11 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +9 min

CNN —The average menstruating person will spend about five years of their total reproductive lifespan using an estimated 11,000 tampons, sanitary pads, panty liners and other menstrual products, experts say. What if some of those menstrual aids contain heavy metals or potentially toxic chemicals linked to chronic diseases and reproductive and developmental problems? “I do not want people to panic, but to be aware that heavy metals have been found in these menstrual products,” Schilling said. “However, there is no reason for people to be afraid to use menstrual products at this time,” she added. The team ran tests for 16 heavy metals: arsenic, barium, calcium, cadmium, cobalt, chromium, copper, iron, manganese, mercury, nickel, lead, selenium, strontium, vanadium and zinc.

Persons: Kathrin Schilling, ” Schilling, Amanda Hils, ” Hils, Anna Pollack, ”, Pollack, “, tampons Schilling, nonorganic tampons, hasn’t, Nancy King Reame, Reame Organizations: CNN, US Environmental Protection Agency, Columbia University’s Mailman, of Public Health, US Food and Drug Administration, George Mason University, US Geological Survey . Chemicals, Environmental Health, Institute for Green Science, Carnegie Mellon University, American Chemistry Council, “, for Disease Control, Prevention, FDA, School of Nursing, Columbia University Medical Center Locations: New York City, “, Fairfax , Virginia, United States, United Kingdom, Greece, tampons, Pittsburgh

☆ Russia would need to spend 6% of its entire 2024 budget to pay wounded soldiers and families of dead troops, 2 researchers estimate
▼ + stars: | 2024-07-11 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

That's about 6% of Russia's total budget for 2024, which is 36.6 trillion rubles, or $414 billion. They arrived at a total of 400,000 wounded or dead, including 100,000 soldiers killed. AdvertisementThe cost of the one-time payments would be a "staggering amount," they wrote. Still, it's not clear if Russia has consistently been rolling out its one-time payments to its wounded or its deceased soldiers' next-of-kin. Russia plans to spend nearly a third of its total 2024 budget on defense, or about 10.8 trillion rubles, which is $122 billion.

Persons: —, Thomas Lattanzio, Harry Stevens, Stevens, it's Organizations: Service, Johns Hopkins School, International Studies, Center, National, Business, Lattanzio, Russian Ministry of Defense, Radio Free, Independent, Carnegie Endowment, International Peace's, Eurasia Center Locations: Ukraine, Russia, Russian, Moscow, Independent Russian, International Peace's Russia

☆ Tesla prioritizes Musk's and other 'VIP' drivers' data to train self-driving software
▼ + stars: | 2024-07-09 | by ( Grace Kay | ) www.businessinsider.com time to read: +14 min

Business Insider has learned that those annotators focus their efforts on two high-profile categories of drivers: Tesla CEO Elon Musk and a select set of "VIP" drivers. These drivers are internally referred to as "VIP" users and their data is at times put in VIP queues, according to the workers. Related storiesData collected from VIP users, including high-profile Tesla drivers who post on YouTube, is scrutinized more heavily and more likely to be labeled, three current and former workers said. They said they'd been specifically told by leads on their teams that they were working on "VIP data" and had received overtime pay to work on the data ahead of FSD updates. Tesla's self-driving in the regulatory spotlightTesla has come under increasing scrutiny from regulators over the self-driving software and the company's marketing of the service.

Persons: —, Elon Musk, Musk's Teslas, YouTubers, Musk, Tesla, Tesla's, John Bernal, Bernal, else's, annotators, Walter Isaacson's, Tesla influencers, FSD, they'd, Raj Balwani, Chuck Cook, Tesla Raj, Balwani, I've, Cook, he'd, they're, Missy Cummings, Cummings, Philip Koopman, Koopman Organizations: Service, Business, Tesla, SpaceX, Twitter, California Department of Transportation, YouTube, National, Traffic Safety Administration, Carnegie Mellon University, US Justice Department Locations: Hillsborough , California, Tesla's Austin, Fremont , California, Hawthorne , California, California, San Francisco, Buffalo , New York, Los Angeles, Hawthorne, YouTubers, Lombard

☆ Russian FX trading is almost entirely in yuan as sanctions restrict dollar use
▼ + stars: | 2024-07-09 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Chinese yuan made up 99.6% of Russian foreign exchange market in June, Bloomberg reported. This comes after the dollar and euro were barred from Russia's main exchange. One expert predicted this would happen, claiming the yuan would become Russia's main trade currency "once and for all." AdvertisementAverage daily volumes in the foreign exchange market contracted by close to a third in the month's second half, the bank report said. AdvertisementHowever, a surge of Russian demand for the Chinese currency has created a yuan liquidity shortage, Bloomberg separately reported.

Persons: —, Moex, Alexandra Prokopenko Organizations: Bloomberg, Service, of, Moscow Exchange, Treasury, Carnegie Russia Eurasia Center, Bank of Locations: of Russia, Moscow, Russia, Beijing, Bank of Russia

☆ Want to cash in on the AI boom? Buy these 2 lesser-known stocks, portfolio manager says
▼ + stars: | 2024-07-03 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +2 min

Carey, a portfolio manager at the U.S.-headquartered investment advisory firm which manages around $4 billion, estimates that returns from AI will be across "multi-years [and] decades." AI companies have a very, very large moat, not only on the hardware side, but also, on the software side. Among the names Carey is bullish on is power management company Eaton . Shares of the U.S. power management company have had a bumpy ride over recent days, but remain up nearly 30% year-to-date and 54.4% in the last 12 months. He noted the "strong demand" for the small-cap's packaged solutions and products.

Persons: Carnegie Investment Counsel's Christopher Carey, Carey, Eaton, Powell Organizations: Carnegie Investment, Nvidia, Amazon, Microsoft, Broadcom, Powell Industries Locations: U.S

☆ Russia is looking to rein in the country's property boom as it tries to cool an overheating economy
▼ + stars: | 2024-07-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Russia's government has spent around half a trillion rubles since 2020 to fund a program offering mortgages at rates as low as 8%. But that program has ushered a wave of Russians into the nation's real estate market, which has sent property prices soaring. Residential property prices in Russia rose to a fresh record in 2023, according to data from the Bank for International Settlements. AdvertisementRising property prices are largely attributed to increased housing demand over the past few years. The Bank of Russia also reported "signs of overheating" in the mortgage lending market late last year.

Persons: —, Russia's, Elvira Nabiullina, Aleksei Kiselev, Kiselev Organizations: Service, Bloomberg, Business, Bank for International, Urban Economics, Bank of Russia, Bank of, Florence School of Banking, Finance, Inflation, Carnegie Endowment, Bank of Russia's Locations: shuttering, Russia, Russian, Bank of Russia

☆ Four under-the-radar stocks to buy and hold for the second half: Portfolio manager
▼ + stars: | 2024-07-01 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

"The goal is to be able to hold these stocks for a while to benefit from the magic of compounding, which can take a long time." Calling it a "great company," the portfolio manager likes the size and scale of its operations and focus on acquisitions. Deere & Company Another company that Carey likes is Deere & Company , or John Deere. Stryker Another stock Carey is watching is medical technology player Stryker . "Stryker is a company that should capitalize on multi-decade trends, and that's where we want to be positioned," Carey added.

Persons: Christopher Carey, Carey, John Deere, Charles Schwab, Schwab, TD, Stryker Organizations: Nasdaq, Carnegie Investment, CNBC, Cintas, Deere, Company, Deere & Company, Charles, Charles Schwab Financial, Stryker Locations: U.S

☆ VCs clamor to invest in the red-hot early-stage round for AI safety startup Haize Labs
▼ + stars: | 2024-06-29 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +4 min

Read previewHaize Labs, an AI safety startup, is raising an early-stage round that investors are clamoring to invest in, Business Insider has learned. However, for hot startups, there can be more investor demand than a startup can accommodate, as with Haize Labs' round. One source indicated that Haize Labs received term sheets with valuations ranging from $30 million to over $100 million. Haize Labs is building automated red-teaming and stress-testing algorithms to identify risks in AI models and agents. AI safety has increasingly become a concern, especially as AI usage increases among both consumers and enterprises.

Persons: —, Leonard Tang, VentureBeat, OpenAI, Sama, Steve Li, Richard Liu, Tang Organizations: Service, Business, Haize, Haize Labs, Soma, Google, Netflix, Harvard, Carnegie Mellon, Washington Post

☆ NYC public libraries have their funding restored, will reopen on Sundays
▼ + stars: | 2024-06-28 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +5 min

New York CNN —New York City officials have agreed to restore more than $111 million in funding to libraries and cultural institutions, the City Council announced Thursday. “We are proud to announce a full restoration of funds to both our libraries and cultural institutions in the upcoming budget,” said New York City Mayor Eric Adams in a statement Thursday. More than 174,000 people sent letters to City Hall in support of the “No Cuts to Libraries!” campaign since the cuts were announced in November. “This funding will allow us to resume seven-day service, a priority for many New Yorkers,” the libraries said in a statement shared with CNN. “We are running a library system today on a pre-pandemic funding level that has not kept pace with inflation,” Linda Johnson, president and CEO of Brooklyn Public Library said at the time.

Persons: “, ”, Eric Adams, ” Adams, Adrienne Adams, Mayor Adams, Stephanie Hill Wilchfort, Wilchfort, Brooklyn —, ” Linda Johnson, ” Tony Marx Organizations: New, New York CNN — New, City Council, New York Public, Bronx Zoo, Carnegie Hall, New York City, CNN, Cultural, Museum, Brooklyn, City Hall, Brooklyn Public, New York Public Library Locations: New York, New York CNN — New York City, City of New York, Queens

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