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☆ US Navy warships can defeat exploding naval drones today, but these deadly systems are evolving
▼ + stars: | 2024-03-23 | by ( Jake Epstein | ) www.businessinsider.com time to read: +12 min

Ukraine has found success at sea by using naval drones packed with explosive to batter Russia. AdvertisementIn two conflicts separated by more than 1,000 miles, US friends and foes alike have turned to a deadly weapon to defeat their enemy's warships: small naval drones packed with explosives. The USS Dwight D. Eisenhower conducts flight operations in response to Houthi activity in the Red Sea on Feb. 23. In other words, there are ways that warships can protect against, evade, and ultimately defeat naval drones. Naval drones can potentially carry a large payload, and if they manage to get through undetected and hit a ship, "there could be significant damage."

Persons: —, Bradley Martin, Sam Tangredi, Ivan Lukashevych, Dwight D, Eisenhower, Tangredi, Archer Macy, Russia hasn't, Sergey Kotov, Macy, USVs, Martin, They're, Arleigh Burke, John Finn, Lewis, Clark, Cesar Chavez, AKE, Justin Stack, Shaan Shaikh, Shaikh Organizations: Former US Navy, Service, US Navy, AP, BI, Security Service, Former Navy, US, Sea Fleet, Ministry of Defense, Navy, Aircraft, Seahawk, Ruskin, Missile Defense, Center for Strategic, International Studies Locations: Ukraine, Russia, Yemen, Europe, Kyiv, Brig, Screengrab, Iran, —, Russian, Ukrainian, Crimea, Handout, Pacific, China, Washington, Beijing, Pearl, East China, they're

☆ Border funding battle snags budget talks in Congress with shutdown days away
▼ + stars: | 2024-03-18 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

Congress is back at the budget negotiation table this week and border security disputes again are threatening to torpedo talks as a weekend government shutdown inches closer. Congress successfully struck a deal on the first six appropriations bills in February, but the remaining half relate to thornier agencies like labor, homeland security, education and more. "This second batch, they're tougher because they're more partisan," said Bobby Kogan, a former budget advisor under President Joe Biden. The border is a top voting issue in the 2024 election and amid the heat of the border controversy, House Republicans impeached Homeland Security Secretary Alejandro Mayorkas in February after several failed attempts. In early February, Republicans killed a foreign aid package that would have provided $20 billion in funding for the U.S. southern border.

Persons: Joe Biden, Kamala Harris, Mitch McConnell, Mike Johnson, Chuck Schumer, Hakeem Jeffries, Biden administration's pushback, Bobby Kogan, Alejandro Mayorkas Organizations: White, White House, Department of Homeland Security, GOP, Politico, DHS, CNBC, Democratic, NBC News, Congress, Republicans, Homeland, Senate Locations: WASHINGTON, DC, Washington , DC, U.S

☆ U.K. Moves to Bar Foreign State Ownership of Newspapers, a Blow to Telegraph Bid
▼ + stars: | 2024-03-13 | by ( Michael M. Grynbaum | Mark Landler | ) www.nytimes.com time to read: +1 min

An audacious effort by the American media executive Jeff Zucker and his Emirati backers to acquire London’s Daily Telegraph appeared to be on life support on Wednesday after the British government advanced legislation that would bar foreign state ownership of newspapers and newsmagazines. The move by Prime Minister Rishi Sunak would torpedo Mr. Zucker’s bid in its current form, which relies heavily on financing from investment partners in the United Arab Emirates. The use of Emirati funds caused an uproar in Westminster over foreign influence in the British media, given the outsize importance of The Telegraph and its sister publication, The Spectator, to Mr. Sunak’s Conservative Party. Mr. Zucker’s media venture company, RedBird IMI, can now try to salvage its bid for the publications by finding new investors and diluting the Emiratis’ majority stake to a level allowed under the government’s proposed rules. His representatives had no immediate comment on Wednesday.

Persons: Jeff Zucker, Rishi Sunak, Zucker’s, Zucker, Rupert Murdoch Organizations: London’s Daily Telegraph, United, United Arab Emirates, Telegraph, Spectator, Sunak’s Conservative Party, RedBird IMI, CNN Locations: United Arab, Westminster, Britain

☆ 1 million Arizonans will have all their medical debt wiped out, joining other states' efforts to make sure the burden doesn't 'torpedo' Americans' lives, Arizona's governor says
▼ + stars: | 2024-03-05 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Read previewNearly 1 million Arizona residents will soon see their medical debt balances turn to zero. AdvertisementA February analysis conducted by nonprofit health organization KFF, based on government data, estimated that about 20 million Americans owe at least $220 billion in medical debt, with 14 million people owing over $1,000 in medical debt and about 3 million people owing more than $10,000. Ned Lamont, who announced in early February that the state would cancel $650 million in medical debt for about 250,000 residents. Arizonans deserve a break, and they deserve a government that fights for them, helping ensure that medical debt is not going to torpedo their lives." Are you struggling to pay off medical debt?

Persons: —, Katie Hobbs, Joe Biden, Jeff Smedsrud, Hobbs, Smedsrud, Ned Lamont, Phil Murphy, Murphy, Arizonans, Jim Baker, Baker, I've, I'm Organizations: Service, Arizona Gov, American, Plan, Business, Arizonans, Connecticut Gov, New, New Jersey Gov Locations: Arizona, New Jersey, Phoenix

☆ South Carolina GOP voters choose between presidential candidates Nikki Haley and Donald Trump, with immigration and the economy top of mind
▼ + stars: | 2024-02-24 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +5 min

South Carolina voters on Saturday are casting their ballots, deciding between former President Donald Trump or their former governor, Nikki Haley. Trump is holding a watch party in South Carolina where he is also likely to speak. "We have the resources to go the distance," a spokesperson for Haley's campaign told CNBC on Tuesday. Along with holding a polling lead, Trump has the endorsements of local South Carolina GOP chapters, South Carolina Governor Henry McMaster, South Carolina Rep. Nancy Mace and other lawmakers in the state. According to the February USA Today/Suffolk University poll, 42% of likely South Carolina GOP voters view immigration as the most important issue, while 26% prioritize the economy.

Persons: Donald Trump, Nikki Haley, Haley, Joe Biden, Trump, South Carolina Governor Henry McMaster ,, Nancy Mace, lambasting Biden, Biden Organizations: Trump, Republican, Democratic, USA, Suffolk University, CNBC, South, South Carolina GOP, South Carolina Governor, South Carolina Governor Henry McMaster , South Carolina Rep, Palmetto State, GOP Locations: Carolina, South Carolina, . South Carolina, New Hampshire, Palmetto, South, China

☆ Dean Phillips says it's 'absurd' that Amy Klobuchar is running for reelection while comparing himself to Liz Cheney
▼ + stars: | 2024-02-23 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +3 min

Rep. Dean Phillips said it's "absurd" that Sen. Amy Klobuchar is running for reelection this year. AdvertisementAs Sen. Amy Klobuchar seeks a fourth term in the Senate, one fellow Democratic member of the Minnesota delegation isn't having any of it. "I think the fact that Senator Klobuchar is running for another reelection is absurd," Rep. Dean Phillips said on "The Chad Hartman Show," a local radio show in Minneapolis. "Minnesotans want leaders who get results and that's what Senator Klobuchar does," said Hill. In the interview, Phillips also compared himself to former Rep. Liz Cheney of Wyoming, who lost reelection to a GOP primary challenger after turning against former President Donald Trump.

Persons: Dean Phillips, Sen, Amy Klobuchar, Phillips, who's, Biden, —, Klobuchar, Chad Hartman, Joe Biden, Nancy Pelosi shouldn't, bIrfbZFMwl, RSQaFw2ac7 — Aaron Rupar, Ben Hill, Minnesotans, Liz Cheney, Donald Trump Organizations: Minnesota Democrat, Congress, Service, Democratic, isn't, Senate, GOP Locations: Minnesota, Minneapolis, Klobuchar, Wyoming, America

☆ British divers retrieved an 80-pound brass bell from the only American destroyer sunk in World War I more than 100 years after the ship was torpedoed
▼ + stars: | 2024-02-21 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Read previewMore than a century after a German U-boat torpedoed the USS Jacob Jones off the coast of Britain during World War I, a team of divers retrieved the American destroyer's massive brass bell. On December 6, 1917 — eight months after the US joined the fight — the Jacob Jones was attacked by a submarine off the southwest coast of Britain. But the effort to retrieve the Jacob Jones' bell was pursued because of plundering concerns, retired Rear Adm. Sam Cox said in a statement about the mission. AdvertisementMost wreck sites from both World War I and World War II have been stripped of their valuable items; anything brass or bronze is gone, Cox told The Post. The Jacob Jones was the first and only US destroyer lost in the war, according to the US Naval Institute.

Persons: —, Jacob Jones, Dom Robinson, 9qzRwhGnG4, Sam Cox, Cox Organizations: Service, US, US Naval Institute, Business, Heritage Command, Navy, British Defense Ministry's, Marine Operations, Washington Post, US Naval Institute . Archaeologists, Washington Navy Yard Locations: Britain, Washington , DC, New York, Scilly, Queenstown, Ireland, England

☆ AI could disrupt the 2024 US presidential election. What’s Congress doing about it?
▼ + stars: | 2024-02-14 | by ( Brian Fung | ) edition.cnn.com time to read: +11 min

But with just nine months until Americans head to the ballot box, there are few signs Congress is ready to pass any meaningful legislation on AI. Alex Wong/Getty ImagesSchumer has previously said that with the election nearing, he may seek to fast-track a bill that focuses specifically on AI and election security. Nothing looks likely to move.”Initial momentum on AI regulationFor months, Congress has focused on getting up to speed on the basics of AI. Still other ideas would require “high-risk” AI models to register for a government license, or create a dedicated new federal agency to oversee AI. OpenAI CEO Sam Altman testifies before a Senate Judiciary Privacy, Technology & the Law Subcommittee hearing titled 'Oversight of A.I.

Persons: Joe Biden, Chuck Schumer, Bill Gates, Mark Zuckerberg, Elon Musk, “, Schumer, Sen, Todd Young, Martin Heinrich, Michael Rounds, Alex Wong, New Mexico Democratic Sen, South Dakota Republican Sen, Mike Rounds, Indiana Republican Sen, didn’t, Paul Gallant, Cowen, ”, Gallant, we’re, Sam Altman, Altman, Heinrich, Rounds, Young, Julia Nikhinson, Sundar Pichai, Jensen Huang, Mike Johnson, Marcus Molinaro, Johnson, Drake, Tom Hanks, Tennessee Republican Sen, Marsha Blackburn, Hakeem Jeffries, Don Beyer, it’ll, Alan Davidson, Biden, Elizabeth Frantz, ” Davidson, —, Sarah Myers West Organizations: Washington CNN, mayoral, U.S, Senate, Capitol, Artificial Intelligence, “, CNN, New, New Mexico Democratic, South Dakota Republican, Indiana Republican, Cowen Inc, United, International Atomic Energy Agency, Intelligence, Reuters, Google, Nvidia, New York Republican, The Washington Post, Commerce, Tennessee Republican, ITI, Virginia Democratic Rep, State of, Republican, House Energy, European Union, EU, Congress, Commerce Department, White House, Privacy, Technology, Democrats, Federal Trade Commission Locations: Washington ,, New Mexico, South, Washington , U.S, Washington

☆ Japan's 'Big Whale' submarines add another weapon to bottle up China's navy
▼ + stars: | 2024-02-10 | by ( Ben Brimelow | ) www.businessinsider.com time to read: +9 min

Named, JS Raigei (“Thunder Whale” in Japanese), the diesel-electric attack sub is the fourth boat of the Taigei-class , which translates to “big whale.”Its launch comes almost exactly one year after the launch of the third Taigei-class sub, JS Jingei (or “Swift Whale”). With a building time of about two years each, Japan has launched a new Taigei-class sub every year since 2020. China’s current sub fleet, numbering some 59 boats, includes approximately 10 improved Kilo-class , 12 Type 039-class , and 21 Type 039A-class diesel-electric attack subs. Japan is building a larger submarine fleet but it is still only about a third the size of China's. AdvertisementJapan has so far launched four Taigei-class submarines since 2018; JS Taigei, JS Hakugei, JS Jingei, and JS Raigei.

Persons: —, JS, Japan’s, ”, Li Organizations: Service, Kawasaki Heavy Industries, JS Raigei, Jingei, Self, Defense Force, AIP, JS Ōryū, JS Tōryū, JS Taigei, US Navy, Center for Strategic, International Studies, JS Hakugei, JS Jingei Locations: Japan, Kobe, Soviet Union, Russia, China, Beijing, Taiwan, East, South China, Miyako Strait, Philippines, Australia, South

☆ Senate advances $95 billion Ukraine, Israel funding bill, faces uphill battle as budget talks loom
▼ + stars: | 2024-02-08 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

By a final tally of 67-32, senators voted to begin debate on a $95 billion aid package to fund Ukraine, Israel, Taiwan and humanitarian aid in war-torn regions. The $95 billion bill was a stripped-down version of the Senate's $118 billion bipartisan funding package, which was released on Sunday. Ukraine aid was the centerpiece of a particularly dramatic saga in September. But Johnson's hatred for CRs might not be enough to outweigh his desire to torpedo the Senate's foreign aid bill. Even if senators can pass the $95 billion, border-less bill, House Republicans have not confirmed which way they will swing on it.

Persons: Chuck Schumer, Schumer, tanked, Kevin McCarthy, McCarthy, Mike Johnson Organizations: Democratic Caucus, U.S . Capitol, Republicans, Republican, CRs Locations: Washington , U.S, Ukraine, Israel, Taiwan

☆ Senate releases $118 billion aid proposal for Israel, Ukraine, border security
▼ + stars: | 2024-02-04 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Senators on Sunday released the details of a $118.2 billion aid proposal for Ukraine, Israel and the southern U.S. border, after months of painstaking, closed-door negotiations. The publication of the bill marks a small victory for Senate negotiators who have gone back and forth for months on how to fund border security and whether to continue supporting Ukraine. But just as soon as the Senate back-patting is over, the proposal will face its next major battle: House Republicans. Republican lawmakers have been preparing to greet the Senate bill with hostility. Speaker Mike Johnson, R-La., on Saturday announced a House proposal that would fund Israel alone, a blatant attempt to preempt the Senate's broader foreign aid bill.

Persons: Chuck Schumer, Joe Biden, Mike Johnson, Israel, Johnson, Jake Sullivan, Donald Trump, NBC's, Trump, Schumer, Biden, we've, Karine Jean, Pierre Organizations: Sunday, Republicans, Republican, Saturday, America, Press, Biden Locations: Ukraine, Israel, U.S

☆ Trump and his allies are wielding immigration as a political weapon against Biden, and Ukraine is paying the price
▼ + stars: | 2024-01-29 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

Negotiations on a deal on the border and aid could collapse thanks to Trump. AdvertisementRepublicans and Democrats have spent weeks carefully negotiating a massive, bipartisan immigration and foreign aid deal, leaving Ukraine in a wait-and-see position on critical support. As both sides moved closer toward a possible agreement, former President Donald Trump stepped in to torpedo attempts at a compromise. Chip Somodevilla/Getty ImagesDespite the border deal being notably to the right of the Biden administration's stances on immigration, the bipartisan bill could be a win for Biden ahead of the election. He appeared to be referring to a contingent of GOP lawmakers who have loudly denounced future US support for Ukraine.

Persons: Trump, —, Donald Trump, Mitch McConnell, Trump's, McConnell, Joe Biden, Sen, Marco Rubio, Joe Raedle, Mitt Romney, Biden, Todd Young, America, Donald Trump grins, Chip Somodevilla, Mike Johnson, it's, Johnson, Marjorie Taylor Greene, Greg Abbott, Volodymyr Zelenskyy, Artur Widak, Zelenskyy Organizations: Service, Republicans, Democrats, Punchbowl News, Miami - Dade Country Fair, Republican, CNN, Las, Immigration, Ukraine, Biden, Texas, Getty, US, NATO, Republican Party Locations: Ukraine, Russia, Iowa, New Hampshire, Miami , Florida, Las Vegas, Israel, Mexico, Rio, Warsaw, Poland, Washington, Russian

☆ Nikki Haley slams Trump for trying to torpedo congressional border deal
▼ + stars: | 2024-01-28 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

Republican presidential candidate Nikki Haley took aim at GOP frontrunner Donald Trump on Sunday for his attempts to further delay a bipartisan border deal that has been deadlocked in Congress for months. "Donald Trump, the last thing he needs to do is tell them to wait to pass the border deal until the election. Notably absent from the people demanding lawmakers strike a deal: Trump. I'd rather have no bill than a bad bill," Trump said at a rally in Las Vegas on Saturday. House Republicans have been trying to impeach Homeland Security Secretary Alejandro Mayorkas for the border crisis, which they say represents a dereliction of his duty.

Persons: Nikki Haley, Donald Trump, Haley, Trump, Joe Biden, Biden, Democratic Sen, Chris Murphy of, Alejandro Mayorkas Organizations: Palmetto State, Republican, Press, Trump, Saturday, Democratic, U.S, Republicans, Homeland Locations: North Charleston, Palmetto, Charleston , South Caroline, United States, Las Vegas, Ukraine, Israel, U.S, Chris Murphy of Connecticut

☆ $800,000 tuna to be turned into sushi at Michelin-starred restaurant
▼ + stars: | 2024-01-06 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Read previewA bluefin tuna sold for 114.2 million Japanese yen, or nearly $800,000, at Tokyo's largest fish market is set to be served at a Michelin-starred restaurant in Japan. The prized tuna will be enjoyed by diners at the Michelin-starred sushi restaurant Onodera in Tokyo's upmarket Ginza district, reported The Japan Times. Media crowd around as a 524 pound bluefin tuna - which was purchased earlier in the day for $788,440 at the first tuna auction of the New Year in Tokyo on January 5, 2024. The world record price for a tuna was set in 2019, when the sushi tycoon and "Tuna King," Kiyoshi Kimura, paid $3.1 million for a 612-pound fish. AdvertisementDerek Wilcox, a chef trained in Japan and who worked there for 10 years, previously told Business Insider that bluefin tuna was "the most sought after."

Persons: —, Hiroki Matsushita, Yukitaka Yamaguchi, Bluefin, RICHARD A, BROOKS, Kiyoshi Kimura, Kimura, Derek Wilcox Organizations: Service, Michelin, Bloomberg, Business, Onodera Group, Japan Times, Media, Getty, Japan National Tourism Organization, AFP, Oma Locations: Japan, Aomori Prefecture, Ginza, Tokyo, AFP

☆ A US Navy warship held together with coconut logs after a Japanese torpedo strike once sailed hundreds of miles in reverse to reach safe harbor
▼ + stars: | 2023-12-01 | by ( Chris Panella | ) www.businessinsider.com time to read: +3 min

Over 80 years ago, a US warship was badly damaged by a Japanese torpedo during the Battle of Tassafaronga. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The torpedo wrecked the New Orleans' forward magazines and gas tanks and damaged its hull, but the ship didn't fully sink. With limited resources or friendly ports out near Tassafaronga Point on Guadalcanal, the New Orleans crew had to improvise. The New Orleans arrived in Sydney on December 24 and later received a new bow, among other repairs.

Persons: — Organizations: Service, US Navy, US Naval Institute, — U.S . Naval Institute, Imperial Japanese Navy, Naval, Heritage Command, Navy, New Orleans, The, New Locations: Tassafaronga, New Orleans, Sydney, Australia, —, Sound, Orleans, Guadalcanal, The New Orleans, Coral, Midway, Philippine, Japan

☆ Biden hopes for extension of Israel-Hamas truce as more hostages released
▼ + stars: | 2023-11-27 | by ( James Mackenzie | ) www.reuters.com time to read: +5 min

Thirty-nine teenage Palestinian prisoners were released by Israel on Sunday, taking the total since the truce began to 117. The four-day truce agreed last week is the first halt in fighting in the seven weeks since Hamas killed 1,200 people and took about 240 hostages back into Gaza. Some 14,800 Palestinians have been killed, Gaza health authorities say, and hundreds of thousands displaced. The latest three Thai hostages released were in good health, Thailand's prime minister said. Hamas released 24 hostages on Friday, the first day of the truce.

Persons: Joe Biden, Biden, Abigail Edan, Abigail, Carmel Edan, he's, Benjamin Netanyahu, Netanyahu, Omar Abdullah Al Hajj, he'd, Thais, Sunday's, Israel, gaunt, children's agency's James Elder, Elder, Raphael Satter, Diane Craft, Raju Gopalakrishnan Organizations: Sunday, International Committee, Red Cross, Reuters, Ministry of Foreign Affairs, Saturday, Palestinian, West Bank, Thomson Locations: Israel, Gaza, U.S, Ramallah, Qatar, Egypt, United States, Palestinian, Gaza's, Qatari, Gaza City

☆ Biden Hopes for Extension as Israel-Hamas Truce Enters Final Day
▼ + stars: | 2023-11-26 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +5 min

Thirty-nine teenage Palestinian prisoners were released by Israel on Sunday, taking the total since the truce began to 117. Her grandfather, Carmel Edan, told Reuters he "simply could not believe" she had been returned, thanking Biden "for all the help he's offered us." The four-day truce agreed last week is the first halt in fighting in the seven weeks since Hamas killed 1,200 people and took about 240 hostages back into Gaza. Some 14,800 Palestinians have been killed, Gaza health authorities say, and hundreds of thousands displaced. Hamas released 24 hostages on Friday, the first day of the truce.

Persons: James Mackenzie JERUSALEM, Joe Biden, Biden, Abigail Edan, Abigail, Carmel Edan, he's, Benjamin Netanyahu, Netanyahu, Omar Abdullah Al Hajj, he'd, Israel, gaunt, children's agency's James Elder, Elder, Raphael Satter, Diane Craft, Raju Gopalakrishnan Organizations: Sunday, International Committee, Red Cross, Reuters, Palestinian, West Bank Locations: Israel, Gaza, U.S, Ramallah, Qatar, Egypt, United States, Palestinian, Gaza's, Qatari, Gaza City

☆ Trump to testify in $250 million New York fraud trial, with his business empire at stake
▼ + stars: | 2023-11-06 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +2 min

Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, October 24, 2023. Former President Donald Trump is expected to testify Monday in the $250 million civil fraud trial that threatens to torpedo his family's business empire. New York Attorney General Letitia James seeks to permanently bar Trump and his two adult sons from running a business in the Empire State because, she says, they have engaged in years of financial fraud. Trump insists the financial statements at the heart of the case were never meant to be definitive. Legal experts say that unlike a criminal case, where a defendant opting to take the Fifth cannot be held against them, in a civil case, a judge can draw an adverse inference from a witness' refusal to testify.

Persons: Donald Trump, Letitia James, Trump, James, Michael Cohen Organizations: U.S, Trump Organization, Court, New York Locations: New York, Manhattan, New York City

☆ 'Bracing for the impact': Founders who built on ChatGPT find out the hard way Big Tech can torpedo their work
▼ + stars: | 2023-11-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +4 min

One founder building ChatGPT add-ons says he's "bracing" for other changes from OpenAI. Little-guy developers building complementary services to OpenAI's ChatGPT chatbot have just found this out the hard way. As several techies noticed, that's pretty much killed off a bunch of startups that build "ChatGPT wrapper" apps that did precisely that. Other wrapper apps can create ad copy, sales materials, and social media posts. As one anonymous venture capitalist, who has backed a ChatGPT wrapper startup put it to Insider: "Just wait until ChatGPT has an outage and see which emperors have no clothes."

Persons: —, Sam Altman, Kevin Dietsch, Dominik Lohle, Joel Liu, Liu, Claude, Damon Chen, PDF.ai, h9KnROaWtI — Damon Chen, Nvidia's, Jin Fan, ChatGPT Organizations: Service, Google, Boston, Microsoft

☆ The US economy is surging – but problems elsewhere could still torpedo profits for big companies like Apple and Tesla
▼ + stars: | 2023-11-01 | by ( Huileng Tan | George Glover | ) www.businessinsider.com time to read: +6 min

The US economy is surging, with growth coming in at a hotter-than-expected 4.9% for the third quarter. But problems elsewhere could still be bad news for big US companies, including Apple and Tesla. China's slowing economy and the war between Israel and Hamas are both potential headwinds, according to analysts. AdvertisementAdvertisementThe China challengeThat's bad news for mega-cap US firms such as Apple and Tesla, which count the Asian nation as a major market. On balance, risks to global growth continue to be skewed to the downside," the International Monetary Fund said in its Global Financial Stability report published last month.

Persons: —, Ukraine — that's, headwinds, Goldman Sachs, GfK, Michael Field, it's, Tom Donilon, Susan Li, Li Organizations: Apple, Service, Nvidia, Intel, Nike, China —, Morningstar Research, stoke, of America, DuPont, Procter, Gamble, International Monetary Fund Locations: Israel, China, Ukraine, Beijing, BlackRock, Iran

☆ Workers at the Detroit 3 are set to make up to $35 more an hour than at Tesla thanks to new union contracts
▼ + stars: | 2023-10-30 | by ( Nora Naughton | ) www.businessinsider.com time to read: +3 min

Detroit's hourly labor costs could soar to $90 an hour, according to one estimate. At Tesla and foreign car companies, that same hourly labor cost sits between $45 and $55 per hour, industry experts estimate. AdvertisementAdvertisementHeading into contract talks this summer, the labor cost gap between the Detroit Three and Tesla was already sizable. While Ford, GM, and Stellantis were spending about $66 an hour on their factory workers, Tesla was spending just $45 an hour. Throughout the strike, Detroit executives warned of the advantage higher labor costs would hand to their competitors.

Persons: —, That's, Tesla, Wedbush, Bill Ford, Shawn Fain, Fain Organizations: UAW, Service, Detroit, United Auto Workers, Ford, GM, Tesla, Toyota, Honda, Volkswagen Locations: Wells

☆ An embarrassing Russian defeat a century ago is a warning about the risks of losing a war to China now, top US Air Force official says
▼ + stars: | 2023-10-26 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +8 min

In May 1905, Russia's navy suffered a resounding defeat by the Japanese at the Battle of Tsushima. The battle is a lesson about complacency in the face of new threats, a top US Air Force official says. AdvertisementAdvertisementGreat-power competitionJapanese soldiers relieve Russian troops in an outer fort at Port Arthur after the Russian surrender in 1905. Proctor via Wikimedia Commons"The Battle of Tsushima Straits did not go well for Russia," Kendall, a self-proclaimed history buff, said at the conference. If our power-projection capability and capacity are not adequate to deter Chinese aggression against Taiwan or elsewhere, war could occur," Kendall said.

Persons: —, Frank Kendall, Kendall, aren't, George Rinhart, Port Arthur —, Korea's, Shigetada Seki, Port Arthur, Oriol, Tsushima, Oleg, Proctor, Theodore Roosevelt Organizations: Russia's, Russo, US Air Force, Service, Air Force, Air and Space Forces Association, Getty, Imperial, Siberian Railway, Asahi, Wikimedia, Imperial Japanese Navy, Russian, Baltic Fleet, 2nd Pacific Squadron, Wikimedia Commons, Mukden, Japanese Defense Ministry, US Defense Department Russia's Locations: Tsushima, Japanese, Asia, European, Imperial Japan, Imperial Russia, Pacific, Japan, Russia, China, Port, Europe, Korea, Dalian, Liaodong, Port Arthur, Tokyo, Russian Pacific, Chemulpo, Ulsan, Baltic, Russian, Vladivostok, Philippines, Madagascar, Manila Bay, Shandong, Okinawa, US, Britain, Germany, Imperial Germany, South, Soviet Union, Manchuria, Taiwan

☆ Putin's new nuclear-powered cruise missile, one of his so-called 'super weapons,' is unnecessary but not totally useless, nuclear weapons expert says
▼ + stars: | 2023-10-22 | by ( Chris Panella | ) www.businessinsider.com time to read: +9 min

If it works, the weapon's utility is debatable, and a nuclear weapons expert said it's likely for political show. The weapon isn't much of an addition beyond the nuclear strike options Russia already has in its arsenal, a nuclear weapons expert told Insider. Will it have "the ability to bypass interception lines" and be "invulnerable to all existing and future missile defense and air defense systems" as he has claimed? The missile, essentially a very-long range cruise missile, can't be intercepted by missile defense systems that are designed to counter ICBMs, meaning it could theoretically penetrate key enemy air defenses to strike its target. The agreement was designed to limit the use anti-ballistic missile systems intended to defend against nuclear attacks.

Persons: Putin, it's, —, Vladimir Putin, Pavel Podvig, Podvig, haven't, George W, Bush, Sergei Karpukhin Organizations: Service, RIA Novosti, Ministry of Defense, Russian, Russian Navy, US, Technology, Ballistic, National Missile Defense, Putin Locations: Russia, Moscow, Russian, Sochi, Ukraine, Avdiivka, Crimea

☆ How the G.O.P. Speaker Mess Has Divided N.Y. House Republicans
▼ + stars: | 2023-10-19 | by ( Nicholas Fandos | More About Nicholas Fandos | ) www.nytimes.com time to read: +1 min

If there is one thing Representative Mike Lawler of New York wants his constituents to know these days, it is that his political party is an absolute mess. “Stuck on stupid,” he branded a band of hard-right Republicans who pulled Congress to the brink of a government shutdown. He said their ouster of Speaker Kevin McCarthy “undermined the will of the American people.” As for the fight over a replacement that has ground the House to a halt for two weeks and counting? His mounting frustration, voiced in interviews with reporters in the Capitol and on networks like CNN that are typically reviled on the right, is not merely an unusual display of bluntness. It is a risky gambit by one of the House’s most endangered Republicans to insulate himself from his own party as it careens, leaderless, toward another possible shutdown.

Persons: Mike Lawler, “, Kevin McCarthy “, Mr, Lawler, Jim Jordan Organizations: York, Republicans, CNN

☆ Fearing China, South Korea targets firms building Taiwan navy submarines
▼ + stars: | 2023-10-16 | by ( Ju-Min Park | ) www.reuters.com time to read: +10 min

SI Innotec, which was fined in August 2022, and Park, who received a suspended prison sentence, deny wrongdoing and have appealed. The equipment was not designed solely for military purposes and did not involve sensitive technology, SI Innotec told Reuters. SI Innotec said the contract, at CSBC's request, listed the equipment's primary use as for wind power generation. "The accused were fully aware that the subject equipment would be used to manufacture a military submarine", the court ruled. It was at this point that Seoul's foreign ministry told DAPA it disapproved of the deal, one of them said.

Persons: Tsai Ing, Narwhal, Carlos Garcia Rawlins, Park Mal, sik, China's, DAPA, Moon Jae, Taiwan's, Innotec, SI Innotec, Moo, sik —, —, Yang Hyang, Yang, KHNT's, KHNT, Cho Hyeon Gyu, 1,343.1000, Ben Blanchard, Faith Hung, Tian, Katerina Ang, Josh Smith Organizations: REUTERS, Rights, Reuters, Administration, Keumha Naval Technology, South, Police, Foreign Ministry, Democratic Progressive Party, Indigenous Defense, South Korean, Foreign Trade, SI, Thomson Locations: Kaohsiung, Taiwan, Rights SEOUL, Beijing, Seoul, U.S, China, South Korea, Park, Taipei, Netherlands, Pacific, Beijing . U.S, Changwon, Korea

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