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☆ Eli Lilly's weight loss drug Zepbound cuts heart failure risks in late-stage study
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024. Eli Lilly 's weight loss drug Zepbound showed benefits in patients with a common type of heart failure and obesity, according to late-stage trial data the company released Thursday. Eli Lilly said it plans to submit the results from the phase three trial to regulators in the U.S. and other agencies starting later this year. Zepbound also significantly improved heart failure symptoms and physical limitations, Eli Lilly said in a release. Eli Lilly will present the data at an upcoming medical meeting and submit it to a peer-reviewed journal.

Persons: Eli Lilly, Zepbound Organizations: Centers for Disease Control, Novo Nordisk, Drug Administration Locations: Brooklyn, New York, U.S

☆ Amazon earnings on deck: Here's what to expect
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon earnings on deck: Here's what to expectRohit Kulkarni, Roth Capital Partners senior research analyst, joins 'Squawk Box' to preview Amazon's quarterly earnings results, what to expect from the tech giant, and more.

Persons: Rohit Kulkarni Organizations: Roth Capital Partners

☆ Eli Lilly bucks the down market on a case for wider coverage of its weight-loss drug
▼ + stars: | 2024-08-01 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. For the rest of the market, Jim noted "pockets of weakness" in the consumer discretionary and industrials sectors. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Jim, Eaton, it's, Eli Lilly, Jim Cramer's Organizations: CNBC, Federal Reserve, Meta, Facebook, Apple, Medicare, Novo Nordisk Locations: Eaton, U.S

It’s been a year since interest rates reached a two-decade high, but they may soon begin to reverse course. The Federal Reserve is expected to hold its benchmark interest rate steady on Wednesday, while signaling that a cut is possible when policy-setting officials meet again in September. If interest rates are elevated for too long, they risk weakening the employment picture. The central bank uses interest rates to influence the broader economy. Home-equity lines of credit and adjustable-rate mortgages — which each carry variable interest rates — generally rise within two billing cycles after a change in the Fed’s rates.

Persons: It’s, ” Jonathan Smoke, that’s, Freddie Mac, ”, Sam Khater, —, “ Banks, Ken Tumin Organizations: Federal, “ Manufacturers, Cox Automotive, Treasury, Savings Vehicles Locations: Edmunds

☆ Johnson Controls CEO to retire after 'constructive' conversations with activist Elliott; shares surge
▼ + stars: | 2024-07-31 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Johnson Controls CEO George Oliver will retire from the top job at the industrial conglomerate, the company announced Wednesday morning, after "constructive dialogue" with Elliott Management, which amassed a stake in the company earlier this year. "I believe that now is the right time to begin the process of identifying the next leader of the new Johnson Controls," Oliver said in a release. Johnson Controls' shares surged more than 9% on the news in premarket trading Wednesday. The company also announced, with Elliott's blessing, that it would appoint former Xylem CEO Patrick Decker to its board effective immediately. Elliott's stake in the HVAC giant was worth more than $1 billion earlier this year, according to a person familiar with the matter.

Persons: George Oliver, Johnson, Oliver, Patrick Decker, George, Elliott, Marc Steinberg, Steinberg, Elliott's Organizations: Johnson, Elliott Management, Johnson Controls, Bosch

☆ Léon Marchand is the superstar and French sports hero these Olympics needed
▼ + stars: | 2024-07-31 | by ( Brendan Quinn | ) www.nytimes.com time to read: +10 min

NANTERRE, France — Léon Marchand has said he likes the silence underwater. That, six days into the 2024 Paris Olympics, is Marchand. #ParisOlympics pic.twitter.com/DEAEFeIxG4 — NBC Olympics & Paralympics (@NBCOlympics) July 31, 2024“I think that was why I was able to win that race,” Marchand said later. And when Léon Marchand swims, you see something different, and the French feel something different. GO DEEPER Meet Léon Marchand, the 'French Michael Phelps' ready to rule his home Olympics(Top photo of Léon Marchand on the podium after his 200-meter breaststroke win: Quinn Rooney / Getty Images)

Persons: France — Léon Marchand, he’s, Hungary’s Kristóf Milák, Marchand, you’ve, LEON MARCHAND, 🇫🇷#P, mpics &, Ja, Marc, ise, eck, egan, Lazar e stati, ros, Stef, cann, haru, ike, Xavier, swam i, Ryan Lo, Sarah S, Xavier M, Fran, e. Isola, ries Organizations: easts Locations: NANTERRE, France, Down, PARIS, ASU,

☆ Her daughter struggled in school with dyslexia, so she moved all 3 kids to Bali to try hands-on learning in bamboo classrooms
▼ + stars: | 2024-07-31 | by ( Amanda Goh | ) www.businessinsider.com time to read: +10 min

"And I knew it would just get harder and harder for her once she got to intermediate and high school." That's when she learned about the Green School in Bali, Indonesia, known for its sustainability-focused curriculum and eco-friendly bamboo campus . "I remember getting up and telling the family, 'We're moving to Bali for the Green School,'" Jackie said. There are around 70 Indonesian students at Green School Bali, of which half are on full scholarships, he said. Yearly tuition fees at Green School Bali do not come cheap.

Persons: —, Mila, Jackie Easthope, Jackie, SONNY TUMBELAKA, John Hardy, Cynthia, Jackie Easthope It's, Kingston, Mads Hedegaard, Hedegaard, Sayoga, Bali Jackie, I'd, I'm Organizations: Service, Business, Green School, Getty, Education, Motion, Hardys, Indy, Green, Western Associates of Schools, Colleges, WASC, Green School Bali, Canggu Community Locations: New Zealand, Bali , Indonesia, AFP, Bali, South Africa, Singapore, Kingston, Beraban, Canggu

☆ Meta shows aggressive spending on AI is already paying off in big earnings beat
▼ + stars: | 2024-07-31 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

While there are still concerns about the company's aggressive AI spending, we believe these investments will pay off in the long run. Both trends were cited as the main drivers behind Meta's revenue outperformance in the quarter. Zuckerberg added that AI is opening the door to new experiences and opportunities, especially with Meta AI, which is powered by the company's large language model that is often referred to as Llama. Zuckerberg said he believes Meta AI will be the most used AI assistant in the world by year end. Management now sees capex in the range of $37 billion to $40 billion, up from its prior range of $35 billion to $40 billion.

Persons: China's ByteDance, — Zuckerberg, Zuckerberg, we'll, Ray, Jim Cramer's, Jim Cramer, Jim, Mark Zuckerberg Organizations: Revenue, LSEG, China's, Meta, Investment, Facebook, Realty Labs, VR, Management, CNBC, Press, AFP, Getty Locations: United States, U.S, Tokyo

☆ Spending takes center stage in Meta Platform's earnings report after the bell Wednesday
▼ + stars: | 2024-07-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

More important to Wall Street is the company's capital expenditures — or spending — as investors are demanding to see clear signs that hefty investments in AI are beginning to pay off . META 1M mountain Meta shares this month The intensified attention toward AI spending comes on the heels of Alphabet's quarterly print and during a "make-or-break" week with earnings from four tech behemoths. While Alphabet topped Wall Street estimates, its rising expenses spurred a sell-off across the sector. But Beck also sees Meta shares going higher as he raised his price target to $600. An uptick in advertising Wall Street is also keeping an eye on advertising figures this quarter, with Nowak viewing Meta as best situated to weather any uncertainty.

Persons: Wolfe Research's, Khajuria, Morgan Stanley, Brian Nowak, capex, Raymond James, Josh Beck, Beck, Wells, Ken Gawrelski, Nowak, Mark Shmulik, Deutsche Bank's Benjamin Black, bode, America's Justin Post Organizations: Meta, StreetAccount, Deutsche, America's, ~$ Locations: Paris

☆ ‘Terrible’: Apple’s new promo video sparks backlash in Thailand
▼ + stars: | 2024-07-31 | by ( Chris Lau | Kocha Olarn | ) edition.cnn.com time to read: +4 min

CNN —A new promotional video by tech giant Apple has been met with heavy criticism in Thailand, with many social media users claiming it offers an unrealistic, outdated view of the country. The plot follows four characters – known as the underdogs – and their attempts to overcome workplace crises using Apple devices and software. Since the series’ debut in 2019, the characters have left their corporate jobs and founded their own company. It’s fine,” wrote Thai social media user Sakchawit Attasillekha on Facebook, pointing out there are “plenty of old hotels in Bangkok” and “old taxis decorated with Buddha amulets.”“However, we also have good things too,” he added. Sombat Boonngamanong, a prominent social activist, also weighed in on Facebook saying that he was surprised the video had caused such a stir.

Persons: Christopher Mintz, ” David William, he’s, ”, John F, “, Nipawan Labbunruang, Lillian Suwanrumpha, Chai Wacharonke, Srettha Thavisin, Sombat Organizations: CNN, YouTube, Plasse, Kennedy International Airport, Bangkok, Getty, Indochina Productions, Apple, Facebook Locations: Thailand, tuk, Thai, “ Thailand, Bangkok, AFP, Bangkok ”

☆ Stocks making the biggest moves after hours: Meta Platforms, Qualcomm, Arm Holdings and more
▼ + stars: | 2024-07-31 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Meta Platforms topped revenue and earnings expectations for the recent quarter, posting earnings of $5.16 per share on $39.07 billion in revenue. Qualcomm posted adjusted earnings of $2.33 per share on $9.39 billion in adjusted revenue. Arm forecast adjusted earnings ranging between 23 cents and 27 cents per share for the fiscal second quarter , while analysts called for 27 cents, per LSEG. Kyndryl Holdings posted revenue of $3.74 billion, falling short of the $3.79 billion expected by analysts surveyed by LSEG. Adjusted earnings topped estimates, while revenue came up short of the $4.53 billion expected by analysts polled by LSEG.

Persons: Teladoc, LSEG, Etsy, Lam, C.H, Robinson, —, Alex Harring, Lisa Han, Jesse Pound, Darla Mercado Organizations: Qualcomm, Arm Holdings, Revenue, Cheesecake Factory, eBay, EBay, Western Digital, Lam Research, MGM Resorts, LSEG, Holdings, IBM, Kyndryl Holdings Locations: FactSet

☆ Meta's AI claimed the Trump assassination attempt didn't happen. The company is blaming 'hallucinations.'
▼ + stars: | 2024-07-31 | by ( Katherine Tangalakis-Lippert | Hannah Getahun | ) www.businessinsider.com time to read: +4 min

The other involved Meta AI responses about the shooting, which in some instances inaccurately claimed the incident hadn't occurred at all. In the blog post for Meta, Kaplan denied the decisions had been made with bias. Kaplan said it is a "known issue" that chatbots like Meta AI can be unreliable when asked about breaking news or real-time events. Meta has updated its AI response on the topic, but Kaplan acknowledged, "We should have done this sooner." "These types of responses are referred to as hallucinations, which is an industry-wide issue we see across all generative AI systems, and is an ongoing challenge for how AI handles real-time events going forward.

Persons: —, Donald Trump, Trump, Joel Kaplan, Kaplan, Elon Musk, Mark Zuckerberg, he's Organizations: Service, Business, Trump, Meta, Big Tech

☆ Brands from Starbucks to LVMH are really hurting in one big market
▼ + stars: | 2024-07-31 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Brands like Starbucks, LVMH, and L'Oreal struggled in China last quarter as consumer spending dropped. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Retailers, including luxury giant LVMH, L'Oreal, and Starbucks are all seeing lower sales in the world's second-largest economy, compared with past years. Chinese customers are choosing to save their money and spending on experiences when they do fork out. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Starbucks, L'Oreal, Service, Business Locations: China

☆ TikTok-owner ByteDance's Singapore workers suffer mass food poisoning
▼ + stars: | 2024-07-31 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

TikTok-owner ByteDance's office in Singapore was hit by mass food poisoning on Tuesday, affecting 60 people, according to local authorities. In a joint statement sent to CNBC, the Singapore Food Agency and Ministry of Health said they were investigating suspected gastroenteritis cases at the China-based tech giant's office. According to TikTok's website, Singapore is one of its headquarters and ByteDance CEO Shou Zi Chew is a third-generation Singaporean citizen. The U.S. government passed a bill in April that seeks to force the app's Chinese owner to sell it or face a ban. TikTok is now suing the U.S. government to stop enforcement of the bill arguing that it violates the law.

Persons: ByteDance, Shou Zi Chew Organizations: CNBC, Singapore Food Agency, Ministry of Health, The Straits Times, Singapore Civil Defence Force, CNA Locations: U.S, Singapore, China, The U.S

☆ European markets head for higher open ahead of euro zone inflation, Fed decision
▼ + stars: | 2024-07-31 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

LONDON — European markets looked set to maintain positive momentum on Wednesday, with euro zone inflation due and corporate earnings still in focus. On the data front, inflation figures for the euro zone will be published at 10 a.m. London time. It comes after second-quarter gross domestic product for the euro zone came in at 0.3% on Tuesday, slightly higher than expected. In the U.S., the Federal Reserve is expected to keep interest rates steady on Thursday. In Asia, all eyes are on the Bank of Japan as it raised its benchmark interest rate to 0.25% from its previous range of 0% to 0.1% and outlined a plan to taper its bond buying program.

Organizations: HSBC, Adidas, Kanye, Federal Reserve, Bank of Japan Locations: London, U.S, Asia

☆ Meta's going to spend like crazy on AI in the next year — and investors don't hate it
▼ + stars: | 2024-07-31 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Meta's second-quarter revenue hit $39 billion, surpassing Wall Street expectations. The company says it's going to keep spending big this year to support AI research and development. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Wall Street analysts had expected just over $38 billion. It's expecting to spend at least $35 billion to $37 billion this year — an increase from its last estimate.

Persons: Meta's, —, It's Organizations: Service, Wall Street, Business

☆ Samsung second-quarter operating profit soars 1,458% as AI demand remains strong; results top estimates
▼ + stars: | 2024-07-31 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +3 min

Revenue: 74.07 trillion Korean won (about $53.45 billion) vs. 73.74 trillion Korean won74.07 trillion Korean won (about $53.45 billion) vs. 73.74 trillion Korean won Operating profit: 10.44 trillion Korean won vs 9.53 trillion Korean won Samsung's revenue for the quarter ended June jumped 23.42% from a year earlier, while operating profit soared 1,458.2%. For the second half, Samsung said it expects the demand from server AI to stay strong across server products including HBM and SSD. The firm added that expanding capacity to meet demand for HBM and server DRAM could further constrain supply of conventional memory chips. Memory momentumHBM memory chips are crucial for AI chips – which have seen a huge demand enabled by the AI boom. The South Korean electronics giant saw record losses in 2023 as the industry reeled from a post-Covid slump in demand for memory chips and electronics.

Persons: Joan Cros, CLSA, SK Kim Organizations: Samsung, Mobile, Getty, Nurphoto, Samsung Electronics, Korean, SK Hynix, Nvidia, SK, Daiwa, Markets, Business Locations: Barcelona, Spain, LSEG, Korean

☆ 'A growth turnaround beginning': Here's what Wall Street expects from Apple's 3rd-quarter earnings
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Artificial intelligence incorporated into Apple products could add another $30 to $40 each share of Apple stock, Wedbush estimated. "We strongly believe June will be the last negative growth quarter for China with a growth turnaround beginning in the September quarter. AdvertisementMorgan Stanley: Big upgrade cycle comingMorgan Stanley's research team reiterated Apple as its "top pick", thanks to a large number of Apple users set to upgrade their devices. "Apple Intelligence is a clear catalyst for a multi-year product upgrade cycle," analysts added in a note. But investors are still waiting for Apple Intelligence to roll out before sentiment improves.

Persons: —, Wedbush, Needham, Morgan Stanley, Morgan Stanley's, Oppenheimer, Apple's Organizations: Service, Apple, Apple Intelligence, Business, OpenAI, Bank of America, Apple Care, Apple Music, Analysts, Barclays, Stock Locations: China, Asia, Needham, Apple's

☆ 'Gaining share': Here's what Wall Street expects from Amazon's 2nd-quarter earnings
▼ + stars: | 2024-07-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +7 min

Wall Street expects the retail giant to report adjusted earnings per share of $1.47 in the quarter and revenue of $148.78 billion, according to data from Bloomberg. Here's what Wall Street expects from Amazon's upcoming second-quarter earnings report. While the US consumer is showing signs of softening, the bank expects Amazon's retail unit to be a beneficiary from the current economic environment. "AWS sales, in constant currency, may meet consensus' high-teens view," Bloomberg Intelligence said. AdvertisementThe analysts also said Amazon's advertising revenue could continue to grow at a "20%-plus pace as Amazon takes market share."

Persons: —, Wall, Goldman Sachs, Amazon's, Rufus Organizations: Service, Bloomberg, Business, Bank of America, of America, 1Q, " Bank of America, Citi, Amazon, 2Q, JPMorgan, Bloomberg Intelligence Locations: America, North America

☆ Alexa Von Tobel Is the Super Connector of New York's Buzzy Tech Scene
▼ + stars: | 2024-07-31 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +11 min

Inspired Capital co-founders Lucy Deland (left), Alexa von Tobel (center), and Mark Batsiyan (right) speak to portfolio companies at the firm's annual founder dinner in June 2024. Born and raised in Jacksonville, Florida, von Tobel attended Harvard University, where she graduated with a degree in psychology. AdvertisementInspired Capital co-founders Alexa von Tobel and Penny Pritzker. Inspired Capital founding partners Mark Batsiyan, Lucy Deland, Alexa von Tobel, and Penny Pritzker. Although von Tobel was on vacation outside the country, she stepped away from a fancy dinner to take McNulty Rojas's call and brainstorm solutions.

Persons: Alexa von Tobel, she's, Lucy Deland, Mark Batsiyan, It's, von Tobel, Capital's, who's, Zuckerburg, I've, Morgan Stanley, —, LearnVest, Batsiyan, Alexa, they'd, von Tobel's, Penny Pritzker, Obama, Brynne McNulty Rojas, — von Tobel, McNulty Rojas, Habi, Tobel, Von, Deland, it's, von, McNulty, hasn't, guac, She's, Benjamin Vandiver, Ivan Zhao, Lindsey Vonn Organizations: Flatiron, Business, New York VC, Harvard University, Facebook, Harvard Business School, Accel Partners, American Express Ventures, Northwest Mutual, LearnVest, Ventures, Northwest, Capital, Harvard, of Commerce, America Fund, Tiger Global Management, II, Alexa, Inc, Magazine, Winder, New York Locations: Jacksonville , Florida, New York, Deland, Miami, Latin America, York

☆ Podcast: Samsung bets on the Galaxy Ring and AI as its next big thing
▼ + stars: | 2024-07-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +42 min

Along with its S24 series of smartphones, foldable devices, smartwatches and now the Galaxy Ring, Samsung is hoping to lock users into its world of products held together with its suite of artificial intelligence features, known as Galaxy AI. Arjun KharpalOne of the things Samsung said was look, the ring is one product, but we've got the watch, we've got the smartphone. I think that's the right approach for Samsung, I don't think they have unrealistic expectations for volumes on this. And you'd feel like if there was some sort of Apple ring, it would do pretty good volumes. Do you think Samsung is seriously looking at ways to monetize this via subscriptions or other kinds of service business model?

Persons: aren't, Tom Chitty, Ben Wood, Meta's Ray, Arjun, Tom Chitty I've, I've, we've, Arjun Kharpal, let's, It's, That's, it's, you've, they've, there's, they're, someone's, I'm, that's, you'll, Ben Wood It's, smartwatch, Arjun Kharpal Apple's, Ben Wood They've, Tim Cook, He's, who'd, Tom Chitty Diamond, somebody's, who've, wasn't, Samsung hasn't, we'll, Ben, they'll, Will, wearables, Kharpal, Arjun Kharpal Tom, Tom, Tom Chitty We'll Organizations: Samsung, South, Galaxy, CNBC, CCS Insight, Mobile, Apple, Garmin, Apple Watch, U.S, Vision, Samsung Electronics, Google, MWC Locations: South Korean, Paris, France, beyondthevalley@cnbc.com, There's, Finland, London

☆ OpenAI's releasing a new AI model soon, and there's a lot at stake
▼ + stars: | 2024-07-31 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, what to expect from OpenAI's newest AI model that's in the works. GPT-5, the newest model upgrade for OpenAI's chatbot, is coming soon . AdvertisementOpenAI has a lot riding on its newest model, including its ability to get customers to cough up more cash. That's not ideal for a company that's preparing to take on one of the biggest juggernauts in tech: Google's Search.

Persons: —, Z's, Let's, Nordin Catic, OpenAI, Darius Rafieyan, Darius, ChatGPT, Justin Sullivan, Chelsea Jia Feng, it's, Sam Altman, Ned Davis, David Solomon, Goldman Sachs, David Zalubowski, Chiang Ying, Mark Zuckerberg, Jensen Huang, Alexa von Tobel, Tyler Le, Mark Zuckerberg's, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Getty, OpenAI, Ned Davis Research, Blackstone, Harvard, Microsoft, Starbucks, Apple, Apple Intelligence, Fed, Meta, Boeing, Kraft Locations: undergrad, New York, China, London

☆ José Torres Gil makes BMX history for Argentina during ‘best final ever’ at Paris Olympics
▼ + stars: | 2024-07-31 | by ( George Ramsay | ) edition.cnn.com time to read: +5 min

Place de la Concorde, Paris CNN —Triumph and tragedy are everywhere you look at the Olympics, and the men’s BMX park final on Wednesday had a surfeit of both. Martin crashed on both of his runs, his title defense wilting in the Paris heat, while Jeanjean recovered superbly on his second run to take a hard-earned bronze medal. As for the triumph, take José Torres Gil, the Argentinian rider who won his country’s first individual gold medal in a cycling discipline with a stunning initial score of 94.82. Great Britain’s Keiran Reilly took silver after packing trick after trick into his second run, hauling himself above Jeanjean with the final act of the competition. “It’s not easy at all when you’ve been training day-in, day-out for a year and you fall on the first trick, the first run,” Jeanjean said.

Persons: – Australia’s, Logan Martin, France’s, Anthony Jeanjean –, Martin, Jeanjean, José Torres Gil, “, ”, Torres Gil, Britain’s Keiran Reilly, Anthony Jeanjean, Markus Gilliar, Torres, –, that’s, Kieran Reilly, Alex Broadway, you’ve, ” Jeanjean, ” Torres, Reilly, Marcus Christopher, Justin Dowell Organizations: Concorde, Paris CNN —, Olympics, Urban Sports, Tokyo Olympics, Frenchman, Games, Getty, Pan American Locations: Paris, sprawled, Europe, Tokyo, American

☆ Lithium giant Albemarle halts Australia plant expansion, reviews costs on weak lithium prices
▼ + stars: | 2024-07-31 | by ( Spencer Kimball | ) www.cnbc.com time to read: +1 min

A worker walks past a pile of lithium ore at a Talison Lithium Ltd. site, a joint venture between Tianqi Lithium Corp. and Albemarle Corp., in Greenbushes, Australia. Lithium mining giant Albemarle will halt the expansion of a manufacturing plant in Australia, as the company reviews costs due to headwinds from weak lithium prices. The impacted facility, the Kemerton plant in Australia, is where the company produces battery-grade lithium hydroxide for electric vehicles and other products. It will also idle a lithium processing line at the plant and focus production on a single line. The plant's production capacity will fall to 25,000 tons from 50,000 tons currently as the line is idled, Masters said.

Persons: Kent Masters, Masters, Albemarle Organizations: Ltd, Tianqi Lithium Corp, Albemarle Corp, Albemarle, CNBC Locations: Greenbushes, Australia, Kemerton

☆ Amazon is poaching from NBCU and Disney as it takes them on for TV ad dollars
▼ + stars: | 2024-07-31 | by ( Lucia Moses | ) www.businessinsider.com time to read: +1 min

Amazon is raiding TV rivals, including NBCU and Disney, for talent to boost Prime Video ad sales. Prime Video ads launched in January, leveraging sports and scale. Amazon faces challenges integrating video ad sales and sharing viewer data with advertisers. The e-commerce giant started running ads in its Prime Video streaming service in January. That's given Amazon a leg up over established TV players and Netflix, whose ads business has grown slowly for the past two years and has already shaken up its ads leadership twice.

Persons: — Organizations: Disney, Service, Netflix, Business

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