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☆ Tim Cook gets real about China
▼ + stars: | 2024-05-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

Still, CEO Tim Cook believes there's still "work to do" in bolstering sales to its major market. "I think it has been and is the most competitive market in the world," Cook said regarding China. AdvertisementApple CEO Tim Cook says there's still more work to do on the China front. While overall iPhone sales were down 10% year-over-year, CEO Cook noted that Apple "still saw some growth" on iPhone in China, specifying that "two best-selling smartphones in urban China" are the iPhone 15 and iPhone 15 Pro Max. "I feel good about China, I think more about long term than to the next week or so," Cook told CNBC in an interview before earnings.

Persons: Tim Cook, there's, Cook, —, Max Organizations: Apple, Service, Counterpoint Research, Huawei, CNBC, Business Locations: China, Shanghai

☆ Scott Sheffield, former Pioneer CEO, accused of trying to conspire with OPEC to inflate prices
▼ + stars: | 2024-05-02 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Scott Sheffield, the founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday. Regulators say Sheffield, then the CEO of Pioneer Natural Resources, used WhatsApp conversations, in-person meetings and public statements to try to “align oil production” in the Permian Basin in Texas with that of OPEC and OPEC+, the wider group that includes Russia. Unlike with OPEC nations, US oil production is supposed to be decided by the free market, not by coordination among the major players. The FTC said that while Sheffield was discussing efforts to coordinate output with other Texas producers, the Pioneer CEO said: “If Texas leads the way, maybe we can get OPEC to cut production. Exxon said that in response to the FTC’s concerns, it will not add Sheffield to its board.

Persons: New York CNN — Scott Sheffield, “ Mr, —, Kyle Mach, Sheffield “, Douglas Farrar, Sheffield, ”, Exxon Organizations: New, New York CNN, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, FTC, ExxonMobil, Competition, CNN, Railroad Commission, Texas, Exxon Locations: New York, American, Saudi, Sheffield, Texas, OPEC, Russia, FTC’s, Saudi Arabia

☆ Read the email to Satya Nadella and Bill Gates that shows Microsoft's CTO was 'very worried' about Google's AI progress in 2019
▼ + stars: | 2024-05-01 | by ( Jyoti Mann | Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Microsoft's OpenAI investment may have been prompted by concerns over Google's AI progress. In a 2019 email, a Microsoft exec said he was "very, very worried" about Google's AI capabilities. AdvertisementIn 2019, Microsoft became "very, very worried" about Google's AI capabilities, newly unearthed emails show, and that may have been what spurred it to invest in OpenAI. In one lengthy email, Microsoft's chief technology officer Kevin Scott told Satya Nadella and Bill Gates that Google's AI-powered "auto-complete in Gmail" was "getting scarily good." Related storiesIn 2019, Microsoft made an initial $1 billion investment into its now multi-billion partnership with OpenAI.

Persons: —, Kevin Scott, Satya Nadella, Bill Gates, Nadella, Amy Hood, Bard, Scott, OpenAI, BERT Organizations: Microsoft, Google, Service, Department, Business, OpenAI, Bing Locations: OpenAI

☆ Starbucks just had a ‘disappointing’ quarter. Here’s how it plans to turn things around
▼ + stars: | 2024-05-01 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —Starbucks is brewing a turnaround plan that involves speedier service and expanding the number of promotions after its most recent quarter was “disappointing,” in the words of its own chief executive. “Let me be clear from the beginning, our performance this quarter was disappointing,” said CEO Laxman Narasimhan on the earnings call. Same-store sales in the United States fell 3%, a sharp reversal from the same quarter a year ago, when they grew 12%. In China, the chain’s second-largest market, sales fell a staggering 11%, with the company blaming competition from “value players” in the country. Starbucks is now forecasting revenue to grow in the low single digits, a steep decline from its previous forecast of 7% to 10%.

Persons: ”, Laxman Narasimhan, ” Narasimhan, “ Headwinds, Narasimhan Organizations: New, New York CNN, Starbucks, East, Alshaya Locations: New York, United States, China, Gaza

☆ China’s Electric Cars Keep Improving, a Worry for Rivals Elsewhere
▼ + stars: | 2024-05-01 | by ( Keith Bradsher | ) www.nytimes.com time to read: 1 min

Automakers in China are building a new generation of bigger, more technologically advanced and competitive electric cars, threatening to leap further ahead of their global rivals as they step up exports around the world. The dozens of car companies operating in China plan to put 71 new battery electric models on sale this year. The cars have bigger tires that improve braking. The changes are aimed at making the cars even more appealing for customers in China and more competitive abroad. Along with plug-in hybrid cars, battery electric cars are taking sales away from gasoline-powered cars and their manufacturers.

Locations: China

☆ Trump gives his strongman’s ambitions free rein on a day off from court
▼ + stars: | 2024-05-01 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

CNN —Donald Trump used his day off from a criminal trial related to a past election to cast a dark, familiar shadow over the next one. Trump cut an unrecognizable figure from the grim ex-president who bleats a daily dirge of complaints about his hush money trial outside Judge Juan Merchan’s court. On specific issues, surveys show Trump leading Biden on most issues including the economy, immigration, and the Israel-Hamas war. “A chilling glimpse into Trump’s second term plansSix months before the election, Trump’s searing campaign rhetoric is becoming less an exercise in performative demagoguery than a blueprint for a potential second term. In the Time interview, Trump comes across as confident and determined to learn the lessons of his first term in which he claims he was let down by “bad” officials.

Persons: Donald Trump, Joe Biden, ”, Trump, bleats, Juan Merchan’s, ” Trump, he’s, Merchan, Joe Biden’s, Biden, Kamala Harris, Roe, Wade, David Axelrod, Barack Obama, Axelrod, CNN’s Erin Burnett, “, Trump’s, doesn’t, he’d, It’s, Eric Cortellessa, ” He’s, quagmire, it’s Organizations: CNN, Milwaukee Journal Sentinel, Capitol, shudder, White, Democratic Party, “, Columbia University, Trump, National Guard, Guard, Republican, ’, ” Locations: Wisconsin, Michigan, Manhattan, America, crackdowns, “, “ New York, North Carolina, Israel, Florida, Freeland , Michigan, Washington, China

☆ CEO of Anthropic — the AI company Amazon is betting billions on — says it could cost $10 billion to train AI in 2 years
▼ + stars: | 2024-05-01 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Anthropic CEO Dario Amodei said training AI could one day cost $100 billion. Amodei told CNBC that he isn't worried about the commoditization of large language AI models. Amodei told CNBC that current models already cost a company $100 million to develop — and that price will only increase as the technology advances. "I think we're going to see models trained in the next year are going to be about $1 billion," Amodei told the outlet. Amodei said some AI models may specialize in topics like law or national security, while others could gain expertise in biochemistry.

Persons: Dario Amodei, Amodei, —, Claude, Daniela Amodei, Elon Musk, we're Organizations: CNBC, Service, Amazon, Google Locations: Anthropic

☆ Biden left without an easy solution as campus protests heat up
▼ + stars: | 2024-05-01 | by ( Kevin Liptak | Jeff Zeleny | ) edition.cnn.com time to read: +18 min

Demonstrators supporting Palestinians in Gaza barricade themselves inside Hamilton Hall at Columbia University in New York City on April 30. On Tuesday, White House officials sharply condemned the takeover of a building at Columbia University, voicing a rebuke of tactics they said went too far. Before police were deployed to campus, pro-Palestinian protesters and Israel supporters were clashing at the school , according to multiple reports. Joseph Prezioso/AFP/Getty Images Columbia University students gather for a picket organized by the Student Workers Union (UAW Local 2710) on Monday, April 29. Stefan Jeremiah/AP Israeli flags are reflected in the sunglasses of a demonstrator in front of Columbia University on April 22.

Persons: Joe Biden, Biden, ”, Mike Johnson, “, Karine Jean, Pierre, hadn’t, Alex Kent, Jean, ” Biden, —, “ Biden, nobody’s, Donald Trump, Lauren Hitt, haven’t, Etienne Laurent, Frederic J . Brown, Caitlin Ochs, David Dee Delgado, Spencer Platt, Charly Triballeau, Kena Betancur, Seyma, Joseph Prezioso, Suzanne Cordeiro, Diane Handal, Cliff Owen, Qian Weizhong, Mike Stewart, Sarah Reingewirtz, Jay Janner, Brandon Bell, Brian Snyder, Timothy A, Clary, Matthew Hatcher, Nuri Vallbona, Jordan Vonderhaar, Zaydee Sanchez, Cameron Jones, Stephanie Keith, Andres Kudacki, Tayfun, Joe Buglewicz, Fatih Aktas, Michael M, Mary Altaffer, Scott Eisen, Columbia's, Stefan Jeremiah, Selcuk, Morehouse, ’, Karim Safieddine, ” Safieddine, Todd Richmond, Dahlia Saba, Trump, ” Saba, ” Barry Burden, ” Burden, that’s Organizations: CNN, Hamilton Hall, Columbia University, Getty, US, White, Heritage Month, Republican, Fox News, National Guard, Kent State University, University of California, UCLA, Getty Images Police, Police, Hamilton, Reuters Police, Columbia, Reuters, The City College of New, Protesters, Getty Images, Columbia Students, Justice, Brown University, Getty Images Columbia University, Student Workers Union, UAW, University of Texas, Low, George Washington University, AP, Sunday, New York University, Rueters Georgia State Patrol, Emory University, MediaNews, Los Angeles Daily News, Austin Statesman, USA, Network, Austin, University, Emerson College, Swarthmore College, Bloomberg, University of Southern, Reuters New York, Reuters Columbia, New York Times, Sproul Hall, Yale University, University police, York University, The New School, Massachusetts Institute of Technology, Library, Democratic, US Military Academy, West, Morehouse College, Biden, Syracuse University, University of Pittsburgh, United Steel, Trump, University of Wisconsin, Madison, Democratic Party, Elections Research Locations: New York, Los Angeles, Israel, Gaza, America, spokespeople, New York City, November’s, AFP, The City College of New York, Columbia, Columbia's, Palestine, Providence , Rhode Island, Texas, Austin, Washington ,, New, Rueters Georgia, Atlanta, Getty Images Texas, Boston, Swarthmore , Pennsylvania, University of Southern California, Berkeley, Sproul, Anadolu, New Haven , Connecticut, Cambridge, Vietnam, Biden’s, Pittsburgh, Milwaukee, Chicago

☆ Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
▼ + stars: | 2024-05-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. Starbucks said bad weather dragged its same-store sales lower. Wingstop , Wall Street's favorite restaurant chain, reported its U.S. same-store sales soared 21.6% in the first quarter. This marks the second consecutive quarter that Burger King reported stronger U.S. same-store sales growth than McDonald's.

Persons: It's, McDonald's, it's, Taco Bell, January's snowstorms, we've, Ian Borden, Wall, International's Popeyes, Chris Kempczinski, Laxman Narasimhan, Narasimhan, David Gibbs, Taco, Yum, Burger, – Organizations: Starbucks Workers, D.C, Starbucks, KFC, Yum Brands, Taco, Bureau of Labor Statistics, Taco Bell, Brands Locations: Dupont Circle, Washington, Pizza, U.S, Australia, Canada, Germany, Japan, Taco

☆ Alysia Montaño is set to be upgraded to a bronze medal after her rivals doped. That still feels like a ‘stab in the gut’
▼ + stars: | 2024-04-30 | by ( George Ramsay | ) edition.cnn.com time to read: +9 min

Receiving a first Olympic medal is supposed to be a momentous and exhilarating occasion for every athlete but not Alysia Montaño. “A stab in the gut, in the heart, really,” is how she describes her supposed moment of triumph. In the days after learning that she could be awarded a bronze medal, Montaño says that her emotions oscillated from joy to sadness to something akin to grief. Savinova celebrates her winning gold at the London Olympics, a title of which she was later stripped. Montaño being awarded her bronze medal from the 2013 world championships in 2019.

Persons: vacantly, “, ” Montaño, – Mariya Savinova, Ekaterina Guliyev, Ekaterina Poistogova, Pamela Jelimo, Montaño, Stu Forster, Savinova, Guliyev, Olivier Morin, huff, –, Adam Nelson, Mustafa Abumunes, ”, wouldn’t Organizations: CNN, Doping Agency, London Olympics, Getty, Athletics Integrity Unit, Turkish Athletic Federation, London, Doha, Clif, ” CNN, International Olympic Committee, US Olympic, Paralympic, New York Times, Nike Locations: Cleveland, American, London, Russia’s, Turkey, AFP, Qatar, Los Angeles, Burger, Paris

☆ Trump doesn’t rule out political violence if he loses, and other takeaways from his Time interview
▼ + stars: | 2024-04-30 | by ( Steve Contorno | Kate Sullivan | ) edition.cnn.com time to read: +9 min

CNN —Former President Donald Trump wouldn’t dismiss the potential for political violence from his supporters if he isn’t elected in November, suggesting it would depend on the outcome of the presidential race. “I don’t think we’re going to have that,” the presumptive GOP nominee told Time magazine. It always depends on the fairness of an election.”The remarks came in a wide-ranging interview with the magazine that published Tuesday. But pressed by the magazine in a later phone interview, Trump was less definitive about the future. Throughout his political career, Trump has regularly refused to accept the results of an election or commit to a conceding defeat.

Persons: Donald Trump wouldn’t, ”, Benjamin Netanyahu’s, Trump, they’ll, ” Trump, Texas Sen, Ted Cruz, Hillary Clinton, Trump baselessly, Ron DeSantis, “ Will, “, Joe Biden’s, “ Donald Trump’s, ” Biden, Julie Chavez Rodriguez, Roe, didn’t, Netanyahu, – Trump, Netanyahu “, Soleimani –, Evan Gershkovich “, Alexey Navalny, Vladimir Putin, Navalny, Jamal Khashoggi, Prince Mohammed bin Salman, bin Salman Organizations: CNN, Time, Israel, Capitol, Texas, Florida Gov, Republican, Trump, Sunshine, Hamas, Capitol Hill, “, Wall Street, Kremlin, Saudi, CIA, United Nations Locations: Lago, Florida, Washington, Iowa, Florida , Texas, Arizona, Israel, Russia, American

☆ Paramount axed its CEO, then held a bizarre earnings call where it played the 'Mission: Impossible' theme song over and over and refused to take questions
▼ + stars: | 2024-04-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

No questions were taken and the call ended with the Mission: Impossible theme being played on loop. The company announced the departure of its president and CEO Bob Bakish before the call. AdvertisementParamount executives didn't take any questions during the company's earnings call on Monday, and ended up blasting the Mission: Impossible theme music on loop to their investors instead. The entertainment studio's first quarterly earnings call of the year took place after Paramount announced the ouster of its president and CEO Bob Bakish. The earnings call ran for only 8 minutes and 50 seconds, and the executives in attendance weren't open to taking questions.

Persons: Bob Bakish, —, didn't, Bakish, George Cheeks, Chris McCarthy, Brian Robbins, Jaime Morris, Anna Nicolaou, Matthew Belloni, Alex Stedman, Shari Redstone, David Ellison's Skydance, David Ellison, Larry Ellison, There's, Paramount didn't Organizations: Paramount, Service, — CBS, Showtime, MTV Entertainment, Paramount Pictures, Nickelodeon Nickelodeon, Financial Times, Netflix, David Ellison's Skydance Media, Oracle, BI

☆ Trump Wants to Prosecute Biden. He Also Thinks Presidents Deserve Immunity.
▼ + stars: | 2024-04-30 | by ( Alan Feuer | Maggie Haberman | ) www.nytimes.com time to read: +1 min

“Could President Biden someday be charged with unlawfully inducing immigrants to enter the country illegally for his border policies?” the lawyer, D. John Sauer, asked. What Mr. Sauer did not mention was that Mr. Trump has done as much as anyone to escalate the prospect of threatening political rivals with prosecution. In 2016, his supporters greeted mentions of Hillary Clinton with chants of “lock her up.” In his current campaign, Mr. Trump has explicitly warned of his intent to use the legal system as a weapon of political retribution, with frequent declarations that he could go after President Biden and his family. In effect, Mr. Trump has asked the Supreme Court to enforce a norm — that in the United States, public officials do not engage in tit-for-tat political prosecutions — that he has for years threatened to shatter. In promising to sic his Justice Department on Mr. Biden, Mr. Trump has laid the grounds for the very conditions that he was asking the justices to guard against by granting him immunity.

Persons: Donald J, Trump, ceaselessly, “, Biden, John Sauer, Sauer, Hillary Clinton, ” Organizations: Mr Locations: United States

☆ Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
▼ + stars: | 2024-04-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, we examine how tough the job market is for the well-paid employee . That's the current job trend, as higher-paid employees are having trouble finding work despite a historically strong labor market. iStock; Rebecca Zisser/BIThe so-called white-collar recession could also have a lasting impact on the job market for high earners. AdvertisementIt speaks to the broader theme of efficiency Big Tech companies have touted for the better part of a year .

Persons: —, Alyssa Powell, Insider's Aki Ito, BI's Emily Stewart, Aki, Rebecca Zisser, Wall, There's, Christine Ji, Kenneth Tan, Alexander Spatari, Abanti Chowdhury, Christine Ji's, Raymond James, Larry Adam, Goldman Sachs, Elon Musk, Premier Li Qiang, Beijing . Wang Ye, Musk, Li Qiang, Jensen Huang, Douglas Sacha, Getty, Bob Bakish, Shari, David Kohl, Shopify, Changpeng Zhao, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Hamptons, Big Tech, Tech, Amazon, Bank of America, Elon, Premier, AP Elon Musk's, Federal Reserve, Paramount Locations: America, Beijing ., Xinhua, China, New York, London

☆ Volkswagen’s electric car orders double in Europe
▼ + stars: | 2024-04-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Volkswagen’s orders for electric vehicles shot up in Europe in the first quarter of 2024 compared with a year ago, countering suggestions that drivers may be losing interest in EVs. New orders for electric cars more than doubled in Europe, Volkswagen said in an earnings statement Tuesday. He acknowledged, however, that the pace of EV sales growth in Europe and the United States had been slower than the German carmaker had originally anticipated. As for Volkswagen’s EV deliveries, they declined 16% in Europe in the first quarter compared with the same period in 2023. “With these actions and our highly profitable combustion engine car business, we are well-prepared to continue to play a leading role in China,” Antlitz said.

Persons: London CNN —, Arno Antlitz, carmaker, ”, Antlitz, ” Antlitz Organizations: London CNN, Volkswagen, Europe’s, CNN, EV, ” Locations: Europe, EVs ., United States, China

☆ Musk's visit to China was a much-needed win for both sides — and a snub to India
▼ + stars: | 2024-04-30 | by ( Meghan Morris | ) www.businessinsider.com time to read: +5 min

And Musk notably skipped a recent visit to India, underscoring how important China is for Tesla. AdvertisementElon Musk's two-day trip to Beijing looks like a mutually-beneficial win for Tesla and for China — and a snub for India. AdvertisementMusk needs China — but China also needs Musk, as a sign that the country is open for business with high-profile US companies. Musk's visit was going to include an announcement about Tesla entering India, Reuters reported. AdvertisementMusk's India visit would have been a win for Modi, who is seeking to boost India's status as a manufacturing hub, especially as businesses leave China.

Persons: Elon Musk, —, Elon Musk's, China —, Premier Li Qiang, That's, Tesla, Dan Ives, Ives, India Musk, Janet Yellen, Antony Blinken, Musk, crackdowns, Bain —, Narendra Modi, Musk's, Modi Organizations: Tesla, Service, India, Premier, Baidu, Reuters, EV, FSD, Financial Times, China, Communist Party, Gucci, Apple Locations: China, Beijing, India, Shanghai

☆ Make a Great Taco Even Better With Jackfruit
▼ + stars: | 2024-04-30 | by ( Ligaya Mishan | ) www.nytimes.com time to read: +2 min

Rivals for the title include a 144-pounder reportedly sighted at a jackfruit festival in the southern Indian state Kerala in 2010. Kerala is where the American poet and essayist Aimee Nezhukumatathil first tasted jackfruit, at age 8. Then they watched her devour jackfruit and understood that she was one of them after all. But in 2020, when grocery supplies were running low during the pandemic, she spotted canned young jackfruit at the local store. “It’s about as close as you can get to tearing into flesh,” Nezhukumatathil says.

Persons: Aimee Nezhukumatathil, ”, jackfruit, ” Nezhukumatathil, Nezhukumatathil Organizations: Rivals, Miss Locations: Maharashtra, Kerala, American, Chicago, Oxford, Mississippi, United States

☆ Samsung stock: Shares rise after tech firm reports big jump in profit
▼ + stars: | 2024-04-29 | by ( ) edition.cnn.com time to read: +4 min

The upbeat outlook from the world’s largest memory chip maker sent its shares 1.8% higher on Tuesday after it reported a more than 10-fold rise in first-quarter operating profit. Operating profit rose to 6.6 trillion won in January to March, up from 640 billion won a year earlier. It was the company’s highest operating profit since the third quarter of 2022. Samsung’s mobile devices business booked a 3.51 trillion won operating profit in the first quarter, down from 3.94 trillion won a year earlier. Rising costs, including increased memory chip prices, dented margins from its flagship Galaxy S24 smartphones launched during the quarter.

Persons: ” Jaejune Kim, Jeff Kim, ” Kim Organizations: Seoul Reuters, Samsung Electronics, Samsung, SK Hynix’s, Nvidia, SK Hynix, AMD, KB Securities, Apple Locations: Seoul, China

☆ Elon Musk comes out fighting as China throws Tesla a lifeline
▼ + stars: | 2024-04-29 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

Elon Musk made a surprise visit to China, meeting officials and striking a deal with Baidu. The deal brings Tesla a step closer to introducing its self-driving features in cars sold in China. AdvertisementElon Musk's surprise visit to China appears to have paid off. Elon Musk was taken by minibus to his private jet at Beijing airport on Monday after a surprise visit to China. Musk's battle planMusk's China visit came amid tough times for Tesla.

Persons: Elon Musk, Tesla, —, Elon Musk's, Narendra Modi, Musk, Li Qiang, Greg Baker, Dan Ives, Wall, Telsa, Musk's, he's Organizations: Baidu, Service, Tesla, Bloomberg, EVs, Getty, Bloomberg TV, Business Locations: China, Beijing, India, AFP

☆ Friends From the Old Neighborhood Turn Rivals in Big Tech’s A.I. Race
▼ + stars: | 2024-04-29 | by ( Cade Metz | Nico Grant | ) www.nytimes.com time to read: +1 min

Today, they are two of the most powerful executives in the tech industry’s race to build artificial intelligence. Dr. Hassabis, 47, is the chief executive of Google DeepMind, the tech giant’s central research lab for artificial intelligence. Mr. Suleyman, 39, was recently named chief executive of Microsoft AI, charged with overseeing the company’s push into A.I. In 2010, they were two of the three founders of DeepMind, a seminal A.I. research lab that was supposed to prevent the very thing they are now deeply involved in: an escalating race by profit-driven companies to build and deploy A.I.

Persons: Mustafa Suleyman, Hassabis, Demis, —, Suleyman Organizations: National Health Service, Queen Elizabeth’s, Google, Microsoft, Big Tech, DeepMind Locations: Syrian, Cypriot, London

☆ Tesla stock set to surge 10% on Elon Musk's China full self-driving 'home run'
▼ + stars: | 2024-04-29 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Tesla's stock price jumped 10% in Monday's premarket as traders reacted to Elon Musk's China trip. Musk seems to have won key support for rolling out Tesla's autonomous driving technology in China. The Wall Street Journal reported that China's government had signaled to Musk that it would support Tesla's full self-driving rollout. Signs of slowing demand in China have dragged on Tesla's stock price in recent months, although shares rallied last week after Musk's company said it planned to launch cheaper models in 2025. "Musk winning FSD approval in the key China market is a watershed moment for the Tesla story in our view," Ives said in a note seen by BI.

Persons: Wedbush's Dan Ives, —, Tesla, Elon Musk, Premier Li Qiang, Dan Ives, Ives Organizations: Service, Tesla, Baidu, Bloomberg, Premier, Street Journal, BI Locations: Monday's premarket, Elon Musk's China, China, Beijing

☆ Amazon says more packages are arriving in a day or less after hefty investment in speedy fulfillment
▼ + stars: | 2024-04-29 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Products are seen at an Amazon fulfillment center where they are being sorted and shipped out as same-day orders during Cyber Monday at the Same-Day Delivery Facility Fulfillment Center in Tampa, Florida, on Nov. 27, 2023. The company has said it wants to make same- and next-day delivery the standard, and it plans to double the number of same-day delivery facilities in the U.S. within the next few years. Amazon has already stood up more than 55 same-day delivery sites in the U.S., primarily clustered around major metro areas. Same-day sites also condense the fulfillment process, typically spread across multiple Amazon facilities under one roof. Amazon has bolstered investment in fast shipping as traditional retail rivals Walmart and Target have stepped up their delivery game.

Persons: Andy Jassy Organizations: U.S, Amazon, Amazon's, RBC Capital, Walmart, Target Locations: Tampa , Florida, U.S

☆ Trump will go from the trial to the trail and back again
▼ + stars: | 2024-04-29 | by ( Stephen Collinson | ) edition.cnn.com time to read: +10 min

CNN —Donald Trump will make his most concentrated effort yet to turn his criminal trial into a political asset in the next two days, heading from the courtroom to the campaign trail and back again. Not surprisingly, a majority of Democrats feel that Trump is being treated more leniently than others, while a majority of Republicans think the opposite. But there’s also a risk Trump’s loose tongue out on the trail could get him into trouble following his alleged violations of Merchan’s gag order. They were also tied in Pennsylvania, a third swing state Biden flipped from Trump four years ago. Trump is following a similar playbook as he fuses his criminal defense as a supposed victim of partisan persecution with his political offensive for a White House comeback.

Persons: Donald Trump, Trump, They’ve, Michael Cohen, Trump’s, Stormy Daniels, Joe Biden, Juan Merchan, he’s, —, “, ”, David Pecker, Matthew Colangelo, Todd Blanche, It’s, Biden, there’s, “ I’m, Republican Sen, Lindsey Graham of, Joe Biden’s, Mike Johnson Organizations: CNN, White, Trump, Conservative Political, Republicans, Biden, Republican, White House, CBS News, Sunday, GOP, Democratic, Capitol, Democratic Party, Columbia University, National Guard Locations: New York, Wisconsin, Michigan, Trump, Georgia, Florida, North Carolina, Bedminster , New Jersey, Lindsey Graham of South Carolina, “ State, Pennsylvania, Waukesha , Wisconsin, Gaza, Charlottesville , Virginia, Washington

☆ Paramount’s Chief Executive, Bob Bakish, Steps Down
▼ + stars: | 2024-04-29 | by ( Benjamin Mullin | Lauren Hirsch | ) www.nytimes.com time to read: +1 min

Bob Bakish, the chief executive of Paramount, is stepping down effective immediately, the company announced on Monday, a stunning shake-up in the top ranks of the company as it considers a major merger. Mr. Bakish, 60, will be replaced by an “office of the C.E.O.” run by three executives: Brian Robbins, head of the Paramount movie studio; George Cheeks, chief executive of Paramount’s CBS division; and Chris McCarthy, chief executive of Showtime and MTV Entertainment Studios. Like many media companies, Paramount has struggled in recent years to get its streaming business off the ground as audiences for its cable channels have diminished. In recent months, the company has been in discussions to merge with Skydance, a media company run by the tech scion and Hollywood executive David Ellison. Shari Redstone, Paramount’s controlling shareholder, has already signed off on a potential deal for her stake, but the company’s directors have yet to reach an agreement for the whole company.

Persons: Bob Bakish, Bakish, Brian Robbins, George Cheeks, Chris McCarthy, Bakish’s, David Ellison, Shari Redstone Organizations: Paramount, Paramount’s CBS, Showtime, MTV Entertainment Studios

☆ Elon Musk will face intense competition if he tries to bring Tesla's full self-driving technology to China
▼ + stars: | 2024-04-29 | by ( Tom Carter | ) www.businessinsider.com time to read: +4 min

Elon Musk has moved closer to getting full self-driving technology approved in China, reports suggest. One local EV boss welcomed the move, saying regulators should "let a hundred flowers bloom." Tesla has moved closer to securing approval to operate its full self-driving technology in China, according to multiple reports, after CEO Elon Musk made a surprise visit to the country over the weekend. Getting FSD approved for China would be a massive win for Musk, who has bet Tesla's future on self-driving cars and robotaxis. AdvertisementMany of Tesla's local rivals are rolling out their own versions of Tesla's Autopilot, which is available in China, and full self-driving technology as competition rages in the country's EV market.

Persons: Elon Musk, Tesla, —, Elon, Musk, XPeng's, William Li, Xiaopeng, EVs, Warren Organizations: EV, Service, Huawei, Xiaomi, Weibo, Bloomberg Locations: China, Guangzhou

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