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☆ India has a new nuclear-capable ballistic missile submarine. But can it catch up with China?
▼ + stars: | 2024-09-14 | by ( Brad Lendon | ) edition.cnn.com time to read: +10 min

CNN —India’s second nuclear-capable ballistic missile submarine joined its naval fleet late last month, a move the government says strengthens its nuclear deterrent as New Delhi casts a wary eye at both China and Pakistan. The de facto border between India and China, known as the Line of Actual Control, has been a longtime flashpoint between the two. India’s next ballistic missile subs could be years away, however, if history is any predictor of the future. Arighaat was launched almost seven years ago, and if that timeline from launch to commissioning applies to the next Indian ballistic missile sub, it won’t join the service until 2030. A type 094 Jin-class nuclear-capable ballistic missile submarine of the Chinese People's Liberation Army (PLA) Navy participates in a naval parade in 2019.

Persons: CNN —, Rajnath Singh, Janes, Arighaat, ”, Carl Schuster, Aksai, Matt Korda, ” Korda, won’t, SSBNs, Tom Shugart, ” Shugart, Jin, Kandlikar Venkatesh, Mark Schiefelbein, Venkatesh, It’s, Abhijit Singh, ” Singh, Korda, it’s, – Organizations: CNN, People’s Liberation Army, Indian Defense, India’s Eastern Naval Command, Missile Defense Advocacy Alliance, Pacific Command’s Joint Intelligence Center, Troops, Naval, Nuclear, Federation of American Scientists, India’s, Center, New, New American Security, US, United Nations Security Council, US Navy’s, Navy, Global Times, People's Liberation Army, PLA, Getty, Observer Research, Hindustan Times, MIRV Locations: Delhi, China, Pakistan, India, Visakhapatnam, Bengal, United States, Bay, Aksai Chin, Beijing, New American, Russia, United Kingdom, France, Britain, Ohio, AFP, Mumbai, Islamabad, Kashmir, New Delhi

☆ Why people are souring on one of the country's hottest housing markets
▼ + stars: | 2024-09-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +8 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe exodus is mainly being driven by higher housing costs, a higher cost of living, and souring attitudes toward the influx of people who moved to Florida in recent years. Property insurance costs in the state are rising at the fastest pace in 20 years, according to Capital Economics. According to Cindy, her home insurance costs around $8,000 a year. The cost of living has also risen, in part due to rising housing costs and more people living in the city.

Persons: —, who's, Cindy, isn't, Rafael Corrales, Corrales, Kevin, hadn't, it's, Bill McBride, McBride, That's, It's, Darryl Fairweather, Redfin, Fairweather Organizations: Service, Business, Tampa —, Capital Economics, Bureau of Labor Statistics, Washington DC, Florida Department of Law, Sunshine State Locations: Florida, Sunshine, Tampa, Orlando, Jacksonville, South Florida, Miami, St, Pete, Seattle, New York, Fort Lauderdale, Palm Beach, Petersburg, Clearwater, Florida's

☆ How the New Hampshire National Guard failed to protect women
▼ + stars: | 2024-09-13 | by ( Haley Britzky | ) edition.cnn.com time to read: +19 min

His attorney told CNN Patterson is expected to retire as a major, one rank below lieutenant colonel, by November 1. His case is perhaps the most high-profile example of a problem women say has plagued the New Hampshire National Guard for years: A toxic, sexist work environment. The New Hampshire National Guard told CNN in a statement that 2023 was an anomalous year for sexual assault reports. “There’s way too much of ‘foxes guarding the henhouse’ in every angle of the [National Guard Bureau],” the IRC member said. “The National Guard belongs to the governors, and so they can do what they want.”The office of New Hampshire Gov.

Persons: Mark Patterson, Patterson, ”, he’d, CNN Patterson, “, Kennith Kruger, Patterson “, ’, Katrina Dupuis, Dupuis, weren’t, ’ ” Dupuis, ” Dupuis, she’d, “ aren’t, David Mikolaities, didn’t, Emily Paige Kamal, ” Kamal, Kate Kuzminski, ” Kuzminski, Maj, Charles Johnston, Chris Sununu, Sununu, Jaleesa Ackerman, Ackerman, ’ ”, Keri Wareing, Wareing, ” Wareing, Jeanne Shaheen, they’ve, Shaheen, OCI, Shaheen “, They’re Organizations: CNN, New Hampshire National Guard, Army, National Guard, Guard, New Hampshire National, New Hampshire National Guard’s Army, Department of, New, New Hampshire Department of Military Affairs, Veterans Services, The New Hampshire National Guard, ‘, Pentagon, Military, Veterans, Center, New American Security, Pembroke , New Hampshire . Tech, Defense, Independent Review Commission, National Guard Bureau, New Hampshire Gov, Services, Manchester Police Department, Mikolaities, Criminal, Organization, Independent, Capitol, Senate Armed Services Committee, Senate National Guard Caucus Locations: New Hampshire, Wyoming, NH, The, New American, Pembroke , New Hampshire, New

☆ Federal Reserve will opt for slow policy easing as there's 'still work to do' on inflation, Fitch says
▼ + stars: | 2024-09-13 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +2 min

"One reason we expect Fed easing to proceed at a relatively gentle pace is that there is still work to do on inflation," the report said. On a month-on-month basis, inflation rose 0.2% from July. Core CPI, which excludes volatile food and energy prices, rose 0.3% for the month, slightly higher than the 0.2% estimate. The 12-month core inflation rate held at 3.2%, in line with the forecast. It took far longer than anticipated to tame inflation and gaps have been revealed in central banks' understanding of what drives inflation."

Persons: Fitch, Dow Jones Organizations: U.S, Fitch, Labor Department, CPI, Fed Locations: Federal

☆ Tesla Semi fire in California took 50,000 gallons of water to extinguish
▼ + stars: | 2024-09-13 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +1 min

A single-vehicle collision last month involving a Tesla Semi electric truck took 50,000 gallons of water to extinguish and required aircraft to dump fire retardant overhead, according to a preliminary report on Friday from the National Transportation Safety Board. The Tesla truck, driven by an employee, was headed to the company's battery factory in Sparks, Nevada, from a warehouse in Livermore, California, the report said. Tesla CEO Elon Musk first showed off the Semi truck design at an event in November 2017, promising it would come to market in 2020. "Preparation of Semi factory continues and is on track to begin production by end of 2025," Tesla said in its second-quarter earnings report in July. The NTSB report confirmed that Tesla's driver-assistance systems, which are marketed as Autopilot and Full Self-Driving (Supervised) in the U.S., were not "operational" at the time of the Semi collision and fire.

Persons: Tesla, Elon Musk Organizations: National Transportation Safety Board, NTSB, CAL Locations: Lake Tahoe, reigniting, Sparks , Nevada, Livermore , California, Nevada, U.S

☆ Mortgage rates fall to lowest level since February 2023
▼ + stars: | 2024-09-12 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. Mortgage rates started to drop early last month on news affirming lower interest rates in the future, specifically after a weaker-than-expected jobs report for July, and have gradually edged lower since. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” Sam Khater, Freddie Mac’s chief economist, said in a release. The Fed doesn’t directly set mortgage rates, but its action do influence them through movements in bond yields.

Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, that’s, Lawrence Yun Organizations: Washington CNN —, “, Federal Reserve, Treasury, Las, P Global, Apple, Fed, National Association of Realtors Locations: New York City, San Diego, Las Vegas, America, Los Angeles, Miami

☆ OpenAI is showing that the AI race is survival of the richest
▼ + stars: | 2024-09-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

It's also a sign of just how expensive the business of training and running AI models is getting. AdvertisementGenerative AI is a cash-guzzlerStartups like OpenAI need to raise huge amounts of capital to build smarter AI models. Just look at the spending of Big Tech firms working to improve their AI models. Consolidation has struck the AI industry in recent months, as some top startups trying to build AI models have been gutted. AI startups serious about progressing on LLMs will need to figure out the answer to this pretty quickly.

Persons: —, Elon, Sam Altman, ChatGPT, It's, Justin Sullivan, OpenAI, Dario Amodei, Anthropic, Pretty, Amodei's Anthropic, Dario Amodei's Anthropic, Noam Shazeer —, Ben Bergman, Sri Muppidi, it's, Elad Gil, Gil Organizations: Service, Bloomberg, Business, SpaceX, Getty, Microsoft, Big Tech, Street, Nvidia, Apple, Amazon, Samsung, Google Locations: OpenAI, aren't

☆ Russia stands to lose $6.5 billion a year if Ukraine doesn't renew a gas pipeline deal at the end of the year, report says
▼ + stars: | 2024-09-12 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Russia's energy revenue could take another hit if Ukraine doesn't renew a key gas deal by the end of the year. AdvertisementRussia could end up losing billions if Ukraine turns its back on a deal to keep gas flowing from the country. Ukraine's state-run energy giant, Naftogaz, is up to renew its gas pipeline deal with Russia's Gazprom by the end of the year. Ending the pipeline deal would be a blow to Russia's gas trade, which is a key lifeline for the economy as it navigates a third year of war in Ukraine. Recently, Russia established a gas pipeline deal with China, which has become one of its largest trading partners.

Persons: Ukraine doesn't, — Organizations: Moscow, Service, Gazprom, Bloomberg, Ukraine, Yale Locations: Ukraine, Europe, Russia, Ukraine's, Moscow, China

☆ Samsung Electronics plans global job cuts of up to 30% in some divisions: Reuters, citing sources
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: +3 min

Samsung Electronics, the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. The sources declined to be named because the scope and details of the job cuts remained confidential. Samsung Electronics , the world's top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. The job cuts come as Samsung grapples with mounting pressure on its key units. One of the sources familiar with the plans said the job cuts were being made in preparation for a slowdown in global demand for technology products as the global economy slows.

Persons: Samsung's, Samsung Organizations: Samsung Electronics, Reuters, Samsung, Manufacturing, South Korean, SK Hynix, Apple, Huawei Locations: Americas, Europe, Asia, Africa, South Korea, India, China

☆ 'Nothing is going to change.' Why Wall Street insiders are casting doubt on new policies to protect junior investment bankers from burnout.
▼ + stars: | 2024-09-12 | by ( Emmalyse Brownstein | ) www.businessinsider.com time to read: +8 min

Two of Wall Street's biggest banks are adopting new policies to mitigate overwork and burnout for their junior investment bankers. Bank of America will use a new tool to better track working hours for junior bankers, the Journal report said, and flag HR when those go above 80. But the nature of investment banking work makes it hard to believe that such guardrails will stand the test of time. He completed an internship at an investment bank in New York last summer and accepted a return offer to start full time in 2025. If senior banking staff don't unilaterally enforce the cap and take it seriously, junior bankers can feel pressure to let the rules slide for the sake of the team and their own careers.

Persons: Leo Lukenas III, Lukenas, Jamie Dimon, JPMorgan Chase, we've, they're, Moritz Erhardt, —, We've Organizations: Service, Industry, JPMorgan, Street, Bank of America, Business, Bank of, Green Beret, of America Locations: New York, London

Here's what Harris and Trump got right and wrong on the debate stage in Philadelphia. Fact check: Trump calls Harris’ dad a Marxist“Her father’s a Marxist professor in economics, and he taught her well," Trump said. Fact check: Trump claims Harris ‘wants to confiscate your guns’“She wants to confiscate your guns,” Trump claimed. We’re not taking anybody’s guns away.”Fact check: Harris says Trump oversaw manufacturing job losses“Donald Trump said he was going to create manufacturing jobs. Fact check: Trump says he has ‘nothing to do with Project 2025’“I have nothing to do with Project 2025.

Persons: Kamala Harris, Donald Trump, Harris, Trump, Harris ’, That’s, Donald Harris ’, Karl Marx’s, Harris ‘, ” Trump, Tim Walz, We’re, that’s, Muir, I’ll, ” Harris, Biden, Putin, ” Trump hasn’t, ”, hasn’t, they’ve, Obamacare, “, William Barr, They’ve, It’s, Harris “, We’ll, we’ll, “ Donald Trump, Let’s, he’s, Xi —, —, you’re, don’t, “ It’s, they’re, isn’t, I’m, Karoline Leavitt, Sen, Marco Rubio, Frank McKenzie, Mark Milley, Ashraf Ghani, West Virginia —, Walz, Ralph Northam, Northam, Vance, hedged, John Kirby, we’ve, it’s Organizations: Trump, NBC News, Stanford University, Afghan, Pentagon, Washington Post, Post, United States, ISIS, Republicans, United, FBI, U.S, D.C, U.S . Energy Information Association, Ohio, Capitol, Taliban, National Security, Al, Republican, U.S . Central Command, Joint Chiefs, CNN, American Civil Liberties Union, Centers for Disease Control, Virginia Gov, NBC, White, Heritage Foundation, U.S . Customs, Protection, CBP, Office, American Progress Locations: U.S, Philadelphia, Afghanistan, Russia, Ukraine, Kyiv, Crimea, Moscow, Iraq, Syria, Iraq’s Anbar, Somalia, Africa, Red, United States, Georgia, Wisconsin, Georgia , Wisconsin, Pennsylvania, New York City, Aragua, Venezuelan, Washington, California , Maryland, Vermont, Andalia , Ohio, China, Mexico, Al Qaeda, Florida, Saigon, Doha, Kabul, airport’s, West Virginia, Virginia, Ohio, Springfield , Ohio

☆ Large supplies of military gear Britain sent to Ukraine were 'due to be scrapped or replaced' anyway, report says
▼ + stars: | 2024-09-11 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Read previewThe UK donated military equipment to Ukraine that was so old it would have been thrown away, according to a new report from the National Audit Office (NAO) published on Wednesday. For example, in March 2022, the UK donated 17,010 pairs of unused army boots that were "nearing the end of their usable life," the report said. It comes against a backdrop of criticism over Western-supplied military equipment to Ukraine. Related storiesUkraine has been receiving military aid from its allies throughout Russia's full-scale invasion, which started in February 2022 . In July, the global military alliance NATO pledged to continue supporting Ukraine with the NATO Security Assistance and Training for Ukraine, or NSATU, a new initiative to coordinate the supply of military aid and training.

Persons: —, NAO, Gareth Davies Organizations: Service, National Audit, UK's Ministry of Defence, Business, MoD, Financial Times, Politico, Russia, NATO, Assistance, Training, Ministry of Defence Locations: Ukraine, Germany, Russia's, Netherlands, Canada, Sweden, Finland, Norway, Denmark, Estonia, Lithuania, New Zealand, Romania, Kosovo, Australia, Ukrainian

☆ Sales of $10 million homes surge in Palm Beach and New York
▼ + stars: | 2024-09-10 | by ( Robert Frank | ) www.cnbc.com time to read: +1 min

Sales of ultra-luxury homes surged in New York, Miami and Palm Beach, Florida, in the second quarter, even as they fell in much of the rest of the world, according to a new report. The number of homes that sold for $10 million or more in the second quarter jumped 44% in Palm Beach, 27% in Miami and 16% in New York, according to a report from real estate firm Knight Frank. New York led the U.S. in $10 million-plus sales, with 72, its highest total in two years, according to the report. Miami came in second with 55, followed by Los Angeles with 42 and Palm Beach with 36. In June, a historic 3.2-acre estate in Palm Beach sold for $148 million, while in Manhattan, the penthouse of the Aman New York was sold for $135 million in July.

Persons: Robert Frank, Knight Frank, Michael Dorrell, Aman Organizations: Palm, Miami, Palm Beach, Wall Street Locations: New York, Miami, Palm Beach , Florida, Palm Beach, U.S, Los Angeles, Manhattan, York

☆ Europe has admitted it's fallen behind US innovation. Now it's plotting a comeback.
▼ + stars: | 2024-09-10 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +7 min

How Europe fell behindThe US and China have outpaced the EU on innovation. One of its biggest tech companies, Dutch semiconductor firm ASML, was founded 40 years ago. Europe's strategy to close the innovation gapMario Draghi thinks the EU should focus its attentions on AI. REUTERS/Yves HermanDespite its weaker position relative to the US and China, Draghi thinks the EU can devise a plan to close the innovation gap. Beyond AI, Draghi points to other measures to close the innovation gap, such as reforms to policies that he thinks hinder innovation, as well as addressing big funding issues.

Persons: —, Mario Draghi, Draghi, European Central Bank —, Pedro Pardo, There's, Yves Herman, Musk, Mario Organizations: Service, Union, European Central Bank, Business, AFP, EU, Novo Nordisk, REUTERS, Tiger Global, Elon Musk Locations: Europe, China, EU, Silicon

☆ Vance says incendiary claim he spread against Haitian migrants could be false but urges followers to keep posting ‘cat memes’
▼ + stars: | 2024-09-10 | by ( Kit Maher | ) edition.cnn.com time to read: +3 min

It’s possible, of course, that all of these rumors will turn out to be false,” Vance posted on X“Do you know what’s confirmed? The Times reported that city officials estimated an influx of as many as 20,000 Haitian immigrants to the town in recent years. In a follow-up post, Vance said, “In short, don’t let the crybabies in the media dissuade you, fellow patriots. Keep the cat memes flowing.”Vance promoted false claims on Monday that Haitian migrants in Ohio are killing and eating family pets, though his post on Tuesday made no mention of Haitians “eating” them. They spread widely on X, whose owner, Elon Musk, has embraced the false rumors and posted several memes that promoted them.

Persons: Vance, “, Springfield who’ve, ” Vance, Kamala Harris’s, ”, don’t, Kamala Harris, Elon Musk Organizations: CNN, Republican, The New York Times, Springfield News, The Times, Republican Party, City Locations: Springfield , Ohio, Springfield, Haitian, Ohio

☆ China halts foreign adoptions of its children
▼ + stars: | 2024-09-05 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

BEIJING — The Chinese government is no longer allowing foreign adoptions of the country’s children, a spokesperson said Thursday. The only exception will be for blood relatives adopting a child or a stepchild, Foreign Ministry Spokesperson Mao Ning said. Many foreigners have adopted children from China over the decades, visiting the country to pick them up and then bringing them to a new home overseas. China suspended international adoptions during the COVID-19 pandemic. The government later resumed adoptions for children who had received travel authorization before the suspension in 2020, the U.S. State Department said in its latest annual report on adoptions.

Persons: Mao Ning, Greg Baker, Denmark’s Organizations: Foreign, U.S . State Department, State Department, NBC Asian Locations: BEIJING, China, U.S, NBC Asian America

☆ The Trump policy that freaks out economists the most
▼ + stars: | 2024-09-05 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

New York CNN —Former President Donald Trump wants to spend trillions of dollars on tax cuts. “It’s enormously protectionist and terrible economic policy,” said Holtz-Eakin, who served as an economic adviser to former President George H.W. The cost of the Trump tax cutsTrump has called for extending his signature 2017 tax cuts, which expire next year if no action is taken by Congress. Trump has argued that extending the tax cuts will boost the economy, create jobs and help families. The Trump campaign has not detailed significant spending cuts or tax hikes to offset these tax cuts.

Persons: Donald Trump, Trump, Goldman Sachs, Kamala Harris, Goldman, “, ” David Kelly, Kelly, “ It’s, ”, ’ Trump, Douglas Holtz, Eakin, Holtz, George H.W, Bush, GOP Sen, John McCain, Mark Zandi, ” Zandi, Karoline Leavitt, they’ll, ” Leavitt, Trump’s, ” Harris, “ Donald Trump, ” Brian Nelson, Harris, Kimberly Clausing, Mary Lovely, ” Trump, Joe Biden, Penn, Penn Wharton, The Trump, CNN’s Katie Lobosco Organizations: New, New York CNN, Asset Management, CNN, America, New York Economic Club, American, GOP, Moody’s, Trump, Peterson Institute for International Economics, Peterson Institute, US Customs, Louis Federal Reserve, Biden, Congress, Princeton University, University of Chicago, Harvard University, US Treasury Department, Penn Wharton Model, Social Security Locations: New York, United States, China, America

☆ This new air-to-air missile appears to be the US Navy's answer to the growing reach of China's weapons
▼ + stars: | 2024-09-04 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

The missile helps to close the gap between US capabilities and those of China, which is fielding new beyond-visual-range air-to-air missiles with reach. Related storiesIn the most recent Pentagon report on Chinese military developments, officials noted its work on "beyond-visual-range air-to-air missiles." The PL-15 was China's answer to the US AIM-120D Advanced Medium-Range Air-to-Air Missile (AMRAAM). U.S. Navy photo by Mass Communication Specialist 2nd Class Isaiah B. GoesslThe air-to-air missile range game is expected to continue though. As the Pentagon noted in its report, China is at work on its air-to-air missiles, and the US is likewise working on next-generation systems like the AIM-260.

Persons: —, Carl Vinson, Douglas Barrie, pBur3mhRQs, 0L2bNLgTUi —, Justin Bronk, Joshua Sapien, It's, Bronk, Zheng Shuai, China's, Isaiah Organizations: Service, US Navy, AIM, Business, Navy, Hornets, Nimitz, Hawaii's, People's Liberation Army Air Force, International Institute for Strategic Studies, U.S . Navy, 0L2bNLgTUi — Doha, US AIM, Air Missile, Royal United Services, Hornet, RIM, Getty, Navy's, Observers, American, aircraft, Pentagon Locations: China, Washington

Though many say they are thankful to have Social Security payments at all, they aren't enough to fill the gap. To help pay the bills, nearly 80% of retirees receive some Social Security income, per BI's calculations, and the Social Security Administration estimates that 97% of older adults will ultimately receive benefits. She told BI that her expected $2,000 monthly Social Security payments may not be enough. As pensions dissipate and only higher-earning retirees have savings, Social Security might only become more pivotal for retirees. Advertisement"I don't want to be rich, I just need to be comfortable," 62-year-old Angela Babin — who lives on her $1,100 monthly Social Security check — told BI.

Persons: —, Emma Echols, she'll, Echols, she's, She's, Xers, Tracey Gronniger, Cheryl Simmons, Franklin D, Roosevelt, they've, Mary Dacus, Stephen, They've, Becky Davenport, Davenport, Donald Trump, Bernie Sanders, Elizabeth Warren, Gronniger, Angela Babin — Organizations: Service, Social Security, Business, Social, Security, Social Security Administration, SNAP, Pew Research Center, Republican, Republicans, allisonkelly Locations: Alabama, San Diego, Spain, Greece, Robinson , Illinois, Florida, Anchorage

☆ Meet the 'silver squatters': Adults in their mid-50s who are woefully unprepared for retirement
▼ + stars: | 2024-08-24 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Thomas is among what retirement experts are calling "silver squatters" — adults in their mid-50s who are even more woefully unprepared than some boomers, despite being about a decade away from retirement. This group of Gen Xers — the generation of Americans aged 43 to 59 — largely expects to postpone or work past their retirement. AdvertisementA majority also don't expect to receive any inheritance, despite their boomer predecessors holding onto trillions in wealth. The gap in retirement readiness could be due to the "unique" challenges of Gen Xers, according to Dylan Tyson, the head of retirement strategies at Prudential. Around half of Gen Xers are saving without a general plan for retirement, Prudential found.

Persons: Jim Thomas, he's, Thomas, He's, Pete Welch, Gen Xers, they'll, René, We're, Xers, Dylan Tyson, Inspira's Welch, there's, Welch, Tyson, expectancies, undersaved — Organizations: Service, Business, Social Security, Prudential Financial, Inspira, Prudential Locations: Austin , Texas

☆ The Taliban publish vice laws that ban women’s voices and bare faces in public
▼ + stars: | 2024-08-23 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Ap-Live-Blog-Byline-Image.Png | The Associated Press | ) www.nbcnews.com time to read: +3 min

ISLAMABAD — Afghanistan’s Taliban rulers have issued a ban on women’s voices and bare faces in public under new laws approved by the supreme leader in efforts to combat vice and promote virtue. The Taliban had set up a ministry for the “propagation of virtue and the prevention of vice” after seizing power in 2021. The ministry published its vice and virtue laws on Wednesday that cover aspects of everyday life such as public transportation, music, shaving and celebrations. They are set out in a 114-page, 35-article document seen by The Associated Press and are the first formal declaration of vice and virtue laws in Afghanistan since the takeover. It also says the elimination of vice involves prohibiting people from doing things forbidden by Islamic law.

Persons: Hibatullah Akhundzada, “, ”, Maulvi Abdul Ghafar Farooq, Fiona Frazer Organizations: Taliban, Associated Press Locations: ISLAMABAD —, Afghanistan

☆ Ukraine got America's top tank without the latest and greatest armor upgrades, which are 'top secret,' but it's adding its own
▼ + stars: | 2024-08-23 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +9 min

Read previewUkraine is adding more protection to its US-provided Abrams tanks as it tries to fight back against Russia. The US started sending Abrams tanks to Ukraine in fall 2023, and altogether it has sent 31 of them. But without top armor, Ukraine needs to come up with its own solutions, he said. AdvertisementA Ukrainian tank with an added cage near the Russian border in northern Ukraine in August 2024. That confirmation indicates that the armor on the Abrams tanks, among certain other things, was downgraded prior to delivery.

Persons: —, Abrams, Ukraine didn't, Nicholas Drummond, Hamish de Bretton, Gordon, M1A2 Abrams, Pat Ryder, Charlie Dietz, Bretton, De Bretton, Drummond, ALEXANDER NEMENOV, Volodymyr Zelenksyy, Ryan Pickrell Organizations: Service, Russia, US, Business, British Army, Soviet, Bradley, Nuclear, Getty, Politico, M1A2, Pentagon, BI, Department of Defense, International Institute for Strategic Studies, Abrams, Challenger Locations: Ukraine, Russian, ROMAN, Bakhmut, Soviet, Russia, Khortytsky_wind, AFP, Western

☆ Traders are confident Nvidia stock will rise after earnings, according to options market
▼ + stars: | 2024-08-23 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Wall Street traders think next week's earnings report from Nvidia is likely to give the chip stock another boost, according to one interpretation of options market pricing. A Piper Sandler research note on Thursday from Benson Durham and Melissa Turner said short-term options on Nvidia look expensive, but that high cost is tilted toward options that serve as bets the stock will rise. So, expensive NVDA options in general don't connote very much investor angst heading into the release," the Piper Sandler report said. The market optimism about Nvidia extends beyond the immediate period after the earnings report, according to Piper Sandler. The Piper Sandler researchers did not take a fundamental position on Nvidia's earnings report.

Persons: Piper Sandler, Benson Durham, Melissa Turner Organizations: Nvidia, Apple, Microsoft

☆ Mike Lynch won a dramatic 12-year legal battle over his tech company. Weeks later, he and his top lawyer are dead.
▼ + stars: | 2024-08-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Hailed as Britain's Bill Gates, Lynch sold Autonomy, his groundbreaking data-management company, to Hewlett-Packard for $11 billion. Shareholders and business commentators were puzzled about what HP, a hardware company, would do with Autonomy, a software company — and why the latter was worth $11 billion. A year after the acquisition, HP wrote down $8.8 billion of the purchase value and accused Lynch of lying about Autonomy's finances. Lynch said HP stifled Autonomy with mismanagement and bureaucracy that pushed out employees and stymied sales. "This verdict closes the book on a relentless 13-year effort to pin HP's well-documented ineptitude on Dr. Lynch," Morvillo said in a joint statement with his attorney colleague Brian Heberlig.

Persons: —, Mike Lynch, Bill Gates, Lynch, Sushovan Hussain, Stephen Chamberlain, Chamberlain, Chris Morvillo, Léo Apotheker, Apotheker, Meg Whitman, James B, Stewart, Time Warner, Bryn Colton, Hussain, hadn't, Henry Nicholls, David Cameron, Cameron, Lynch —, Whitman, Apotheker's, Robert Hildyard, Hildyard hadn't, wasn't, that'd, Guglielmo Mangiapane Morvillo, Morvillo, Brian Heberlig, Angela Bacares, Hannah, Charles Morvillo Organizations: Service, Autonomy, Hewlett, Packard, HP, Business, Cambridge University, Cambridge, Oracle, Adobe, Cisco, Shareholders, New York Times, Time, FBI, Deloitte, Telegraph, The New York Times, KPMG, US Justice Department, Justice Department, High Court, REUTERS, BBC, British Museum, Politico, The Times, Times, Bacares Locations: San Francisco, London, California, Kenya, Sicily

☆ The explosion of online sports betting is taking a toll on how people invest
▼ + stars: | 2024-08-21 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Algerina Perna | Baltimore Sun | MCT | Getty ImagesThe explosion of online sports betting is taking a toll on personal finances, particularly among those who are financially distressed. The authors found that sports betting has exploded since the Supreme Court overturned a federal law prohibiting it in 2018. Those who participate tend to invest less and have higher debt levels. "Two to three years after betting becomes legal, there is a noticeable drop in net investment relative to states where betting is not yet legal," the report said. The higher credit card debt indicates that these households are not just shifting funds from one type of entertainment to another (for example, shifting money from betting on lotteries to betting on sports).

Persons: Algerina Perna Organizations: Baltimore Sun

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