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☆ Who Is Rachel Reeves, the Woman Taking the Helm of Britain’s Economy?
▼ + stars: | 2024-07-05 | by ( Eshe Nelson | More About Eshe Nelson | ) www.nytimes.com time to read: +1 min

Rachel Reeves became Britain’s first female chancellor of the Exchequer on Friday, taking on one of the country’s four great offices of state, with responsibility for managing Britain’s budget. After a decade and a half of economic stagnation, Ms. Reeves, a Labour lawmaker with a reputation as a serious and steady manager, faces the tough jobs of boosting Britain’s productivity growth, a key measure of prosperity, and of reviving struggling public services. “I know the scale of the challenge that I’m likely to inherit,” Ms. Reeves told the BBC early Friday. “There’s not a huge amount of money there,” she said, adding that the party needed to unlock private investment. Ms. Reeves is expected to approach her new role with deliberation.

Persons: Rachel Reeves, Britain’s, Reeves, ” Ms, “ There’s, ”, ” Carys Roberts Organizations: Labour, BBC, Institute for Public Policy Research

☆ What to expect from the June jobs report
▼ + stars: | 2024-07-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +9 min

That said, the job market of today is far different than it was 30 months ago. “The labor market has normalized,” Luke Tilley, Wilmington Trust’s chief economist, told CNN in an interview. As such, Friday’s report could provide a crucial signal as to whether the jobs market is at a stable or even pre-pandemic state — or is perhaps weaker than advertised. The continued upswing in claims has Tilley closely watching an underlying datapoint of the monthly jobs report: Unemployed persons by reason for unemployment. The overall labor force participation rate dipped in May to 62.5% from 62.7%, reversing progress made earlier this year.

Persons: don’t, ” Luke Tilley, ”, Nela Richardson, ” Dean Baker, aren’t, Tilley, ” Tilley, That’s, Julia Pollak, ” Pollak, Rachel Sederberg, Joe Biden, Donald Trump, Biden, Jerome Powell, Powell, “, can’t, Lightcast’s Organizations: CNN, Bureau of Labor Statistics, Center for Economic, Policy Research, of Labor, Challenger, ZipRecruiter, ”, CNN Business, Workers, Federal Reserve, Labor Locations: Wilmington, “, Portugal

☆ How Britain Changed Over 14 Years of Conservative Rule
▼ + stars: | 2024-07-03 | by ( Josh Holder | Ademola Bello | ) www.nytimes.com time to read: +14 min

How Britain Changed Over 14 Years of Conservative RuleSince Britain’s Conservative Party took power 14 years ago, most things have not gone the way it planned. The Economy Has StagnatedAverage productivity growth has declined since 2010…0.0% 0.5% 1.0% 2.0% 2010 2015 2017 2019 2024 Source: Office for National Statistics. 2010 2015 2017 2019 2024 Source: N.H.S. 50% 60% 70% 80% 2010 2015 2017 2019 2024 Source: N.H.S. 2010 2015 2017 2019 2024 Source: Trussell Trust … and thousands more people are sleeping on the streets than in 2010.

Persons: Conservatives ’, England …, Boris Johnson, —, Hong Kongers, Rishi Sunak Organizations: Conservative, Britain’s Conservative Party, Conservatives, Local, gov, Conservative Party, European Union, National Health Service, National Statistics, Institute for Public Policy Research, Public Services, Labour, Commons, Department, Loans Company, Higher Education Statistics, YouGov Locations: Britain, Thursday’s, Germany, United States, London, Ukraine, England, Rwanda, United Kingdom

CNN —A major Supreme Court ruling Friday that shifted power from the executive branch to the judiciary stands to transform how the federal government works. By overturning a 1984 precedent, the court’s conservative majority has made countless regulations vulnerable to legal challenge. The Supreme Court ruling could boost efforts by conservatives who have taken aim at the Biden Environmental Protection Agency’s rules limiting planet-warming pollution from vehicles, oil and gas wells and pipelines, and power plants. The ruling has injected legal uncertainty into regulations of all types, including those on technology, labor, the environment and health care. But the Supreme Court has yet to decide a case heard this term that might gut that limitation.

Persons: ”, Kent Barnett, —, Thomas Berry, John Roberts, Roberts, Elena Kagan, Sonia Sotomayor, Joe Biden, Shawn ThewPool, Adam Rust, ” Rust, Andrew Schwartzman, Alexander MacDonald, ” MacDonald, Sharon Block, ” Block, Biden, Andrew Twinamatsiko, ” Twinamatsiko, “, Paul Gallant, TD Cowen, David Vladeck, Chevron —, Ann Carlson, Carlson, David Doniger Organizations: CNN, Biden, University of Georgia School of Law, Chevron, Natural Resources Defense, Republican, Democratic, Cato Institute . Chief, State of, Consumer, Consumer Financial Protection Bureau, Federal Trade Commission, Consumer Federation of America, “, Supreme, Securities, Exchange Commission, Benton Institute for Broadband & Society, Department of Labor, National Labor Relations Board, Opportunity Commission, Harvard Law School, Center, Labor, American Cancer Society, US Food and Drug Administration, US Department of Health, Human Services, Medicare, Services, Medicaid, Human Services Department, HHS, O’Neill Institute for National, Global Health Law, Georgetown University, FDA, Federal Communications Commission, EPA, National, Traffic Safety Administration, University of California, Natural Resources Defense Council Locations: Obamacare, Chevron, State, Washington , DC, Texas, Littler, Los Angeles

☆ The Houthis are getting smarter with their Red Sea attacks, and the ships sailing these waters are paying the price
▼ + stars: | 2024-06-29 | by ( Jake Epstein | ) www.businessinsider.com time to read: +10 min

'A useful disguise' for the HouthisBetween December and March, Houthi attacks damaged at least 19 commercial ships, according to a June 13 report published by the Defense Intelligence Agency. US Central Command via AP, FileThe following weeks saw a decrease in the pace of successful Houthi attacks. AdvertisementYemen's Houthi group released a video showing an explosive-laden drone boat target a commercial vessel earlier this month. AdvertisementDouble taps and drone boatsBeyond the recent double-tap strikes, the Houthis' ability to learn from past attacks is visible in their drone boat operations. In this photo released by the French military, the MV Tutor sinks in the Red Sea after it was struck by a Houthi drone boat.

Persons: —, Archer Macy, Behshad, Houthis, Brian Carter, Ambrey, Carter, they're, des, they'll, Macy, they've, Alex Stark, John Kirby, Kirby, Yemen —, Dwight D, Theodore Roosevelt Carrier, Stark Organizations: Service, Business, US Navy, Defense Intelligence Agency, US military's Central Command, US, Command, AP, Military Times, American Enterprise, Houthi Media, Getty, des Armées, AP Experts, Center for Strategic, Studies ' Missile Defense, RAND Corporation, National Security, Eisenhower, Eisenhower Carrier Strike, Theodore Roosevelt Carrier Strike Group Locations: Gulf of Aden, Iran, Iranian, Yemen, Tehran, Israel, Gulf, Aden, Ukraine, Russian, Red, France, Sanaa

☆ Betting odds are surging for Trump, says Strategas’ Dan Clifton
▼ + stars: | 2024-06-28 | 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 EmailBetting odds are surging for Trump, says Strategas’ Dan CliftonDan Clifton, Strategas head of policy research, joins 'Squawk Box' to discuss last night's Trump-Biden debate, how the debate would impact the markets, and more.

Persons: Strategas, Dan Clifton Dan Clifton, Trump, Biden Organizations: Trump

☆ Hezbollah has the weapons to carry out its threat against Cyprus
▼ + stars: | 2024-06-28 | by ( Paul Iddon | ) www.businessinsider.com time to read: +9 min

The threat against Cyprus is also an indirect threat against NATO member Greece, which has close ties with Israel. "Although the Republic of Cyprus and Israel have enjoyed strategic cooperation for years, the current timing is crucial. "The Republic of Cyprus is able to expose the tactics of Hezbollah at the EU level and simultaneously seek support by the US." Jack Guez/Getty ImagesNevertheless, Hezbollah could harm Cyprus if it carries out its threat. Related stories"The Israeli capacity to shoot down Hezbollah's drones in 2022 could be a model for the Republic of Cyprus," Tzogopoulos said.

Persons: —, Hassan Nasrallah, George Tzogopoulos, Tzogopoulos, Nasrallah, Jack Guez, Mark III, Nicholas Heras, Heras Organizations: Service, NATO, Israel, Cypriot, Business, Hezbollah, European Union, UN, Sovereign Base, EU, Cypriot National Guard, New Lines Institute, Israeli Air Force, New Lines, Israeli Defense Forces Locations: Iran, Lebanon, Republic of Cyprus, Cyprus, Greece, Israel, Turkey, Turkish Republic of Northern Cyprus, United Kingdom, Akrotiri, EU, Gaza, Russian, Nicosia, Iranian Fateh, Yemen, Syria, NATO

☆ Compass Point's Max Reale talks the impact of a possible FDA ban on compounded GLP-1 offerings
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompass Point's Max Reale talks the impact of a possible FDA ban on compounded GLP-1 offeringsMax Reale, Compass Point head of policy research, joins 'Closing Bell Overtime' to talk the current state of the weight-loss drug space and the impact of a possible compounded GLP-1 ban.

Persons: Max Reale Organizations: FDA

In 2023, Texas led the nation in solar installations on its power grid, surpassing California for its second consecutive year. Explosive power demand poses a challenge to the Biden administration's goal of converting the U.S. power grid to 100% clean electricity by 2035. Nextracker is a leading U.S. solar firm, building systems that allow panels to track to the position of the sun, improving the efficiency of solar power plants. Shugar pointed to the massive number of renewable projects in the U.S. seeking connection to the power grid. But as energy demand increases, the value of each additional hour should rise, eventually making longer duration batteries more cost effective, he said.

Persons: Brandon Bell, Andrés Gluski, Joseph Rand, We've, Kelley, Wells, Goldman Sachs, Biden, Ryan Sweezey, Wood Mackenzie, Richard Kinder, Kinder Morgan, Kinder, Amin Nasser, Nasser, Shugar, Lawrence, Lazard, Nextracker's Shugar, Lawrence Berkeley, Amol Phadke, Rand, Sweezey, Reid Ramdathsingh, Ramdathsingh, Fluence, John Zahurancik, Zahurancik, it's, Zahuranick Organizations: Getty, Renewables, Energy Information Administration, Department of Energy, Big Tech, Microsoft, AES Corporation, Google, AES, Meta, UBS, Solar, Lawrence Berkeley National Laboratory, U.S, Tech, North America, DOE, CNBC, University of California Berkeley's Goldman School of Public, Goldman School, Lawrence, Rystad Energy, Siemens Locations: Ector County , Texas, Texas, California, United States, U.S, Wells Fargo, Saudi, Houston, Lawrence Berkeley, Fluence's Americas

☆ Russia's war in Ukraine began in Crimea. It could end there, too, defense experts say.
▼ + stars: | 2024-06-16 | by ( Cameron Manley | ) www.businessinsider.com time to read: +8 min

Read previewIf there is one place Ukraine is winning in the war against Russia, it's Crimea, experts say. Ukrainians have since referred to the Black Sea peninsula as "occupied Crimea," and Zelenskyy has continually stated that any peace agreement must see it returned to Ukraine. Meanwhile, Ukraine, which lost its traditional naval fleet during the annexation of Crimea, has targeted Russia's Black Sea fleet with great success using sea drones. Ukraine even claimed to have sunk the Black Sea Fleet's flagship, the Moskva. "Crimea allows for power projection over the rest of the Black Sea.

Persons: —, Volodymyr Zelenskyy, Vladimir Putin, Olga Khvostunova, ", Zelenskyy, Elina Beketova, Russia's, VASILY MAXIMOV, Maria Snegovaya, Beketova, Putin, Dmitry Pletenchuk, OLGA MALTSEVA, Catherine the Great, Snegovaya, Alexei Volkov, DVIDS Frederik Mertens, Ukraine's, Budanov Organizations: Service, Business, Eurasia, Foreign Policy Research, Federal Assembly, NATO, Centre for, Fleet, Getty, Center for Strategic, Studies ', Eurasia Program, Black, Ukraine, Security, Anadolu Agency, Directorate of Intelligence, Guardian, UK Ministry of Defence, MoD, Getty Images, National Union of Hospitality Industries, Reuters, Wing Public Affairs, Hague, Strategic Studies Locations: Ukraine, Russia, it's Crimea, Crimea, Sevastopol, Moskva, AFP, Studies ' Europe, Kerch, Ukraine's, Ukrainian, Rostov, Crimean, Russian, Saki

☆ 'Win-win-win': Three-day hybrid work week is a success, largest study to date published in Nature says
▼ + stars: | 2024-06-14 | by ( Kaya Ginsky | ) www.cnbc.com time to read: +6 min

The three-day in-office hybrid work schedule is a "win-win-win," according to a study published in the prestigious science journal Nature. Non-manager attrition for hybrid employees had a 2.4% rate, a one-third reduction from the control group of 7.2%. When managers measured employees in nine categories of performance, execution and results, hybrid employees succeeded at the same rate. By the end of the experiment, managers positively viewed hybrid work as a potential asset to the company rather than a detriment to productivity. From an economic policymaking standpoint, hybrid work is one of the few instances where there aren't major trade-offs with clear winners and clear losers.

Persons: Nick Bloom, Bloom, Ruobing Han, James Liang, Trip.com, JPMorgan Chase, Jamie Dimon, Mark Zuckerberg Organizations: Stanford's Institute for Economic, Boeing, UPS, Nike, JPMorgan, University of Pittsburgh Locations: Shanghai, U.S

☆ Russia had a golden opportunity to open a new front in Ukraine but is squandering it, military experts say
▼ + stars: | 2024-06-11 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +8 min

Read previewRussia is fumbling a golden opportunity in Ukraine as its latest offensive stalls, experts told Business Insider. The monthslong Republican delay over a new tranche of US military aid had left Ukrainian forces desperately short of ammo and equipment. AdvertisementBut it's likely Putin had other goals — and he may have succeeded in some of them, Bury told BI. Even so, it looks like Russian forces were quickly overextended and poorly protected, The Telegraph reported. "The Kharkiv offensive, even if it wasn't what the Russians have hoped for, ultimately in many ways it served its purpose," said Reynolds.

Persons: —, John Kirby, Patrick Bury, Vladimir Putin, readying, Jake Epstein, Chasiv Yar, Putin, Ann Marie Dailey, it's, Bury, Rob Lee, Nick Reynolds, Volodymyr Zelenskyy, Dailey, Putin's, Joe Biden —, Reynolds, Russia's Organizations: Service, White House National Security Communications, Business, UK's University of Bath, Republican, of Defence, BBC, Washington Post, RAND, Policy, Telegraph, Royal United Services Institute, for, Kyiv Post, Bury, Politico, Kharkiv, Russia's Kharkiv Locations: Ukraine, Kharkiv, Russia, Ukrainian, Vovchansk, Russian, Belgorod, Kyiv, Ukraine's, Sumy

☆ Ukraine says deep drone strike destroys rare Russian Su-57 stealth fighter
▼ + stars: | 2024-06-10 | by ( Brad Lendon | ) edition.cnn.com time to read: +4 min

CNN —Ukraine’s military on Sunday said it had destroyed one of Russia’s newest and most advanced fighter jets in a drone strike on a military base deep inside Russia. Ukrainian forces said they successfully destroyed one of Russia's most advanced combat jets, SU-57, in a drone strike on a military base deep inside Russia. Flight Global’s “World Air Forces 2024” directory lists 14 Su-57s as active and another 62 as on order. TASS reported in 2022 that Russian forces will receive a total of 22 Su-57s by the end of this year. If the reports of the Ukrainian drone strike deep inside Russia prove true, it marks another success of Kyiv’s low-cost drones taking out high-value Russian assets.

Persons: CNN —, Sukhoi Su, ”, Oleg Nikishin, Sergey Shoigu, Su, ” Shoigu, GUR, Jill Dougherty, “, ” Dougherty Organizations: CNN, NATO, Air, Russian, Ukrainian, Ukraine, TASS, Air Forces, Russian Aerospace Forces, Foreign Policy Research Institute, Institute for Locations: Russia, Astrakhan, Ukraine, Western, Zhukovskiy, Syria, Russian, Moscow

☆ Trump claims credit for Biden’s insulin price cap
▼ + stars: | 2024-06-08 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Former President Donald Trump on Saturday recognized that the price of insulin is lower under President Joe Biden, but he still wants voters to credit his own administration. "Low INSULIN PRICING was gotten for millions of Americans by me, and the Trump Administration, not by Crooked Joe Biden. Insulin price caps have become a central piece of evidence for Biden's broader economic argument on the campaign trail against Trump. "And now I want to cap the cost of insulin at $35 a month for every American who needs it!" For Trump's part, the former president signed an executive order in the last year of his administration to issue his own $35 price cap on insulin.

Persons: Donald Trump, Joe Biden, Crooked Joe Biden, Trump, Biden Organizations: Trump Administration, Trump, Democratic, U.S, CNBC, Obama, ACA, Crooked Locations: KFF

☆ X’s ‘new’ adult content policy isn’t new, sex workers say, and it hasn’t cleared up moderation concerns
▼ + stars: | 2024-06-07 | by ( Kat Tenbarge | ) www.cnbc.com time to read: +6 min

"I definitely see people who don't realize that the bot accounts aren't real sex workers," Leathers explained. Still, sex workers say it has become increasingly difficult to grow and reach their followings. "We balance this freedom by restricting exposure to Adult Content for children or adult users who choose not to see it," the policy says. Musk reportedly toyed with the idea of monetizing adult content, but the platform explicitly barred adult content from the program after introducing creator monetization in July 2023. "We're seeing consumers go to another site, to Reddit or Twitter where they can get adult content without age-verifying," Stabile said.

Persons: Elon, Sydney Leathers, Leathers, Musk, hasn't, Olivia Snow, monetization, Snow, influencer Pearl Davis, Trip Richards, Mike Stabile, Stabile, Richards Organizations: Twitter, SpankChain, UCLA, Free Speech Coalition, NBC Locations: Texas , Utah , Arkansas, Virginia , Montana , North Carolina and Mississippi, U.S

☆ War, what war? Putin looks to woo new business partners willing to overlook its invasion of Ukraine
▼ + stars: | 2024-06-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Russian President Vladimir Putin is seen while visiting the Lakhta Center on June 5, 2024, in Saint Petersburg, Russia. Vladimir Putin visited a newly built Lakhta Center, a skyscraper of Gazprom, prior to his meetings at the Saint Petersburg International Economic Forum SPIEF 2024. Contributor | Getty Images News | Getty ImagesRussia's annual economic forum in St. Petersburg used to be known as the country's "Davos" in a nod to the World Economic Forum that's held in Switzerland every year. A view of the stand of the Russian private bank Alfa-Bank during the 27th St. Petersburg International Economic Forum in St. Petersburg, Russia on June 05, 2024. Guests from foreign countries seen during the first day of the St. Petersburg International Economic Forum 2024.

Persons: Vladimir Putin, SPIEF, Max Hess, Peter Szijjarto, There's, Vladimir Putin's, Yuri Ushakov, Putin, anders Pettersson Organizations: Lakhta Center, Saint Petersburg, Economic, Getty, St ., Economic Forum, Foreign Policy Research Institute, CNBC, Hungarian Foreign, Alfa, Bank, Anadolu, West, International Monetary Fund, U.S, Brics Locations: Saint Petersburg, Russia, Gazprom, St . Petersburg, Davos, Switzerland, Ukraine, Asia, Latin America, Africa, Eastern Europe, Slovakia, Hungary, Hungarian, St, Moscow, Russian, Germany, France, India, China, Johannesburg, South Africa

☆ US economy added a whopping 272,000 jobs in May
▼ + stars: | 2024-06-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

At a time when Americans and the Federal Reserve are clamoring for clear-cut data about the state and trajectory of the economy, Friday’s jobs report was much more opaque than everyone had hoped. Employment fell in the household survey, while unemployment increased to just shy of 6.5 million and pushing the unemployment rate to the threshold of 4%. Service-providing industries accounted for the bulk of the month’s job gains, with health care and social assistance continuing to lead the way, with 83,500 jobs added. “Don’t get overly spooked by the rise in the unemployment rate,” Bunker wrote. “The labor market is still gliding toward a soft landing.”

Persons: ” Dean Baker, “, I’ve, Diane Swonk, ”, Wall, Chris Rupkey, FwdBonds, CEPR’s Baker, ” Baker, ” Thomas Simons, Jeffries, Nick Bunker, Bunker, “ Don’t, ” Bunker Organizations: CNN, Federal Reserve, Center for Economic, Policy Research, of Labor Statistics, KPMG, That’s, Index, Traders, BLS, Service, North America

☆ Video shows a Ukrainian drone finding an easy way around a Russian tank's 'turtle' defenses
▼ + stars: | 2024-06-06 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Read previewA dramatic video shared by Ukraine's defense ministry on Wednesday showed an aerial drone finding a simple way around a Russian tank's formidable "turtle" defenses. "Occupiers made a 'turtle' tank but forgot to close a hatch... Ukraine's drone pilots don't forgive such mistakes," Ukraine's Ministry of Defence said in the accompanying text. Occupiers made a 'turtle' tank but forgot to close a hatch...🇺🇦 drone pilots don't forgive such mistakes. One "turtle" tank was spotted fitted out with a tent-like metal structure, while another one was seen with pallets on it. Ukraine has previously released videos showing drones taking out Russian "turtle" tanks on the battlefield.

Persons: — Organizations: Service, Ukraine's 93rd Mechanized Brigade, Business, Ministry of Defence, 93rd Mechanized Brigade, Pilots Locations: Russian, Bakhmut

☆ Alphabet's new CFO was in the middle of the GLP-1 boom. Now she's onto generative AI
▼ + stars: | 2024-06-06 | by ( Jennifer Elias | ) www.cnbc.com time to read: +10 min

Alphabet announced on Wednesday that Eli Lilly Chief Financial Officer Anat Ashkenazi will be its new CFO after an almost year-long search. Shares of Eli Lilly have soared 90% in the past year and are trading at a record. When she joined Eli Lilly in 2001, she came in through the company's new venture capital division, which was co-founded by her then-spouse Ron Laufer. Fastest growth in decadesFounded in 1876, Eli Lilly has long been one of the major U.S. pharmaceutical companies. But the last couple years have marked a period of historic growth for Eli Lilly due to the exploding popularity of GLP-1s.

Persons: Anat Ashkenazi, Eli Lilly Eli Lilly Alphabet's, Ruth Porat, Eli Lilly, Ashkenazi, it's, Eli Lilly's, David Ricks, Morgan Stanley, Sundar Pichai, Hollie Adams, Ron Laufer, John Smiley, Eli, It's, Trump, Eli Lilly's Covid, we're, Askhenazi, OpenAI's, Larry Page, Sergey Brin, CNBC's Eric Rosenbaum, Toby Lyles Organizations: San, San Francisco Bay Area, Google, Economic, Bloomberg, Getty, CNBC, Tel Aviv University, Hebrew University, U.S . Food, Drug, U.S . Department of Justice, FDA, Reuters, Employees, NBC Locations: U.S, Indiana, San Francisco Bay, Davos, Switzerland, Israel, biopharma, North Carolina, Germany, New Jersey

☆ Why Friday’s jobs report could be one for the record books
▼ + stars: | 2024-06-06 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

CNN —The US job market showed a softer side in April when just 175,000 jobs were added, marking one of the weakest months in the past three years. It was also well shy of economists’ expectations (for 235,000 jobs added) and sharply lower than the 315,000 net gain for March. A separate report released Thursday showed that fewer job cuts were announced in May than both the month and year before. Foreign-born workers: In addition to high labor force participation rates among prime working age individuals, specifically prime working-age women, the US labor market is benefiting from a boom in immigrant workers. Some of these workforce moves typically come at the end of the school year, meaning the May jobs report and June report could show the effects.

Persons: It’s, we’ve, Elizabeth Crofoot, ”, aren’t, Crofoot, Dean Baker, that’s, Julia Pollak, “, ” Andrew Challenger, Ryan Sweet, CEPR’s Dean Baker Organizations: CNN, Bureau of Labor Statistics, Federal Reserve, BLS, Center for Economic, Policy Research, “ Employers, Department of Labor, Challenger, Secondary School Emergency, Oxford Economics Locations: State

☆ Analysis: Voters reject Modi’s vision for one-party state in India’s 2024 election
▼ + stars: | 2024-06-05 | by ( Rhea Mogul | ) edition.cnn.com time to read: +7 min

According to most polls, India’s election was a foregone conclusion. Prime Minister Narendra Modi’s right-wing, Hindu-nationalist alliance was expected to secure a supermajority – and with it the power to enact radical change unopposed. To Modi’s critics and opponents, India was on the fast track to becoming a de-facto one-party state. Going into this election, Modi had set a goal of winning 400 seats in the lower house of parliament, or Lok Sabha. The BJP’s inability to secure an outright majority “pricks the bubble of Modi’s authority,” wrote political scientist Pratap Bhanu Mehta Tuesday night.

Persons: Narendra Modi’s, Modi, Bharatiya Janata Party wouldn’t, God, ”, Pratap Bhanu Mehta, “, Jawaharlal Nehru, Ritesh Shukla, Arathi Jerath, India’s, Arvind Kejriwal, Critics, –, ” Mehta, Sanjay Singh, “ Modi, Neelanjan Sircar Organizations: CNN, Bharatiya Janata Party, …, BJP, Aadmi Party, ‘, National Democratic Alliance, Center for Policy Research Locations: India, Lok Sabha, –, Ayodhya, New Delhi, Delhi

☆ Modi's weaker-than-expected election win raises questions over his economic and political agenda
▼ + stars: | 2024-06-05 | by ( Sumathi Bala | ) www.cnbc.com time to read: +5 min

Indian Prime Minister Narendra Modi gestures as he arrives at Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. he said, adding Modi will likely have an "uneasy relationship" with its coalition partners. Veteran investor David Roche called the election outcome an exercise of "karma," adding that this was Modi's election to lose. The party suffered some of its high-profile losses here, with political BJP heavyweights like Smriti Irani among others, losing their seats. A 'humbling moment'Going into the election, Modi's popularity endured despite India's economic problems such as high youth unemployment, inflation and income inequality.

Persons: Narendra Modi, Adnan Abidi, Modi, Neelanjan Sircar, We've, Sircar, CNBC's, —, David Roche, Roche, Smriti Irani, overreach, he's, Michael Kugelman, Wilson Organizations: Indian, Bharatiya Janata Party, BJP, Centre for Policy Research, Indian National Congress, Developmental Inclusive Alliance, Independent, South Asia Institute Locations: New Delhi, India, INDIA, Uttar Pradesh, Ayodhya, Faizabad, Maharashtra, Rajasthan

☆ There's a 'dark side' to Modi government's political centralization, analyst says
▼ + stars: | 2024-06-05 | 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 EmailThere's a 'dark side' to Modi government's political centralization, analyst saysNeelanjan Sircar, a senior fellow at the Centre for Policy Research in New Delhi, discusses India's election results.

Persons: Modi, Neelanjan Sircar Organizations: Centre for Policy Research Locations: New Delhi

India's Prime Minister Narendra Modi flashes victory sign at the Bharatiya Janata Party (BJP) headquarters to celebrate the party's win in country's general election, in New Delhi on June 4, 2024. Completed vote counts by the Election Commission of India showed that Modi's BJP won just 240 seats. India's Parliament has 543 seats, and the party or coalition that wins at least 272 forms the government. Modi's decade-long ruleUnder Modi, India, home to 1.4 billion people, has witnessed robust economic growth. While India has seen robust economic growth under Modi, observers and critics have warned about the country's "democratic decline."

Persons: Narendra Modi, Money Sharma, Modi, Aiyar, CNBC's, Shilan Shah, Shah, Kranthi, Sensex, Samir Kapadia, that's, Malcolm Dorson Organizations: India's, Bharatiya Janata Party, BJP, Afp, Getty, Indian, Modi's BJP, National Democratic Alliance, Developmental Inclusive Alliance, Indian National Congress, Policy Research, Centre, Monitoring, Capital Economics, BSE, WealthMills Securities, Adani, Adani Enterprises, State Bank of India, ICICI Bank, Monetary Fund, India Index, Vogel, Dem, Global, Vogel Group, IMF Locations: New Delhi, India, INDIA, China, Sweden

☆ OpenAI board members brush off warning from ex-directors and defend Sam Altman as 'highly forthcoming'
▼ + stars: | 2024-05-30 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

Read previewThis has been the week of dueling op-eds from former and current OpenAI board members. Current OpenAI board members Bret Taylor and Larry Summers issued a response to AI safety concerns on Thursday, stating that "the board is taking commensurate steps to ensure safety and security." In the last six months, the two current board members said they had found Altman "highly forthcoming on all relevant issues and consistently collegial with his management team." She also said that the old OpenAI board found out about ChatGPT's release on Twitter. OpenAI dissolved the superalignment safety team before later announcing the formation of a new safety committee.

Persons: —, Bret Taylor, Larry Summers, Helen Toner, Tasha McCauley, Sam Altman, Taylor, Summers, Altman, OpenAI, WilmerHale, Toner, Openai, he's, Jan Leike, Ilya Sutskever, Gretchen Krueger, Leike, Krueger Organizations: Service, Business, Twitter, World, Summit

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