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☆ India Is Scrapping Its Largest Bill. The Race Is On to Spend It.
▼ + stars: | 2023-05-31 | by ( Sameer Yasir | Mike Ives | ) www.nytimes.com time to read: +1 min

Indians have been filing into gas stations, jewelry stores, fruit stands and any other businesses that still accept soon-to-be-withdrawn 2,000-rupee notes, each worth about $24. The race to spend India’s biggest bill has been on since its central bank announced this month that they would be removed from circulation by early fall. Economists say retiring the big bill may help fight corruption, bring workers into the formal economy, improve tax collection and accelerate India’s push for digital payments. But for some consumers, the move has dredged up unpleasant memories of 2016, when Prime Minister Narendra Modi’s sudden ban on large notes left them without enough cash for basic transactions. In an economy that is driven by rural and informal workers, some do not own bank accounts — or trust the government’s economic policies.

Persons: Narendra Modi’s Locations: India’s

☆ 6 photos of Elon Musk's visit to China, from a 16-course dinner to meetings with Chinese officials
▼ + stars: | 2023-05-31 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Photos from the visit show Musk's private jet landing and the Tesla CEO's 16-course meal. Elon Musk touched down in China for the first time in three years on Tuesday — a key trip for the Tesla chief. Musk met with Chinese Foreign Minister Qin Gang. Musk is one of several US CEOs to visit China in recent months. Some analysts have hailed Musk's visit to China as a positive sign.

Persons: Elon Musk, Musk, Elon, Tingshu Wang, Ma, Jack Ma, Tom Zhu, Grace Tao, Qin Gang, Qin, he's, Zeng Yuqun, Fu Yan, Jin Zhuanglong, Tesla, CNBC's David Faber, Li Keqiang, Li Qiang, Dan Ives Organizations: Morning, Tesla, Twitter, REUTERS, Reuters, Tesla's, Beijing REUTERS, Chinese Ministry of Commerce, Foreign, China's Ministry of Foreign Affairs, Amperex Technology, Weibo, Associated Press, Apple, Getty Locations: China, Beijing, Austin , Texas, Anchorage , Alaska, People's Republic of China, Shanghai

☆ Wedbush's Dan Ives calls Salesforce one of the best risk-reward stocks in software
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush's Dan Ives calls Salesforce one of the best risk-reward stocks in softwareDan Ives, Wedbush, joins 'Closing Bell' to discuss Salesforce ahead of the company reporting earnings after the bell today.

Persons: Dan Ives, Salesforce

☆ Brazil's Lula proposes common South American currency at UNASUR meeting
▼ + stars: | 2023-05-30 | by ( Stefano Pozzebon | ) edition.cnn.com time to read: +1 min

CNN —Brazilian President Luiz Inácio Lula da Silva proposed creating a common currency in the region during a meeting with South American heads of state in Brasilia on Tuesday. Talk of creating a common currency there has periodically cropped up since its founding in 1991. Lula also argued that regional development banks like the Andean Development Corporation (CAF), the Bank of the South and Brazil’s development bank BNDES should do more to finance social and economic development in the region. It’s not the first time that regional leaders have floated the idea of creating a common currency in South America. “If we compare the Eurozone, discussions over the common currency started back in the 1950s.

☆ Indian Official Who Drained a Reservoir to Retrieve His Phone Is Suspended
▼ + stars: | 2023-05-27 | by ( Sameer Yasir | Mike Ives | ) www.nytimes.com time to read: +1 min

Say you drop your brand-new smartphone into a reservoir while posing for a selfie during a picnic. Would you consider it lost and buy a replacement, or drain the reservoir to retrieve it? An Indian official who chose the latter option has been suspended from his job. Initially, some villagers he knew spent two days diving in the reservoir in an attempt to retrieve the phone, Mr. Vishwas told The Indian Express newspaper. So he rented a diesel pump and drained about three feet of water over another two days — by some estimates, enough to irrigate 1,500 acres of farmland.

☆ China's internet giants bet big on A.I. as Beijing looks to rival U.S. on tech 'paradigm shift'
▼ + stars: | 2023-05-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +6 min

"This kind of computing power needs to be provided as a kind of public service or infrastructure. China, specifically, "has some of the most advanced AI tech in the world," he added. "We believe this is a Game of Thrones also playing out in the China Tech market as the gloves are on for this battle," Ives said. Many innovative vendors are going after this market and China tech is now in the midst of a secular shift around AI." The comments from some of China's top tech companies last week hint at how Beijing is seeking to ramp up its rivalry with the U.S. on AI.

Persons: BABA BABA, Robin Li, Baidu, Ernie Bot, OpenAI's ChatGPT, Tencent, Martin Lau, Lau, Alibaba, Daniel Zhang, Dan Ives, Ives, Hao Hong, CNBC's, —, Tencent's Lau, Baidu's Li, Didi, Meituan Organizations: HK, Microsoft, Google, Wedbush Securities, CNBC, China Tech, Big Tech, Baidu, U.S, Nvidia, chipmaker Micron, Grow Investment Locations: China, Beijing, U.S, Alibaba

☆ Elon Musk says he doesn't plan to give his kids control of his companies
▼ + stars: | 2023-05-23 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

Elon Musk said he's found potential successors for his companies if "something happens to me unexpectedly." The billionaire said he doesn't plan to hand over his companies or voting shares to his kids. Musk dispelled rumors earlier this month that he would bring in a new Tesla CEO. Elon Musk says he doesn't plan to hand over his companies to his kids any time soon. The Tesla CEO did not respond to a request for comment from Insider ahead of publication.

Persons: Elon Musk, he's, Musk, X, X's, Grimes, Steve Jobs, Bernard Arnault, Rupert Murdoch —, I've, Musk's, Zach Kirkhorn, Tesla, James Murdoch —, —, Tom Zhu, he'd, Dan Ives Organizations: Morning, Reuters, Twitter, Street Journal, Musk Locations: China, North America, Europe

☆ Microsoft and Nvidia are the clear winners in A.I. for now, investment firm says
▼ + stars: | 2023-05-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft and Nvidia are the clear winners in A.I. for now, investment firm saysDan Ives of Wedbush Securities says investors recognize that artificial intelligence is "not hype," but a "real monetization theme" that will have a "massive ripple effect" across tech in the years to come.

☆ Elon Musk's quest for an irresistible price could spell trouble for Tesla and its stock
▼ + stars: | 2023-05-21 | by ( Brian Evans | ) www.cnbc.com time to read: +11 min

Its goal has been to coax consumers to make the leap to its brand with the lower prices. Finding an 'irresistible' price Tesla's price cuts are an effort to take advantage of that growing market. "We have written extensively on the drag EVs have on margins for legacy [original equipment manufacturers] and the impact of EV price deflation. She added that the price cuts are an effort for Tesla to retain market dominance and stave off competition from big competitors like Ford. Longer term, Tesla's price fluctuations could do more harm than good if they end up turning consumers off.

☆ Opinion: A boast that could sink Trump
▼ + stars: | 2023-05-21 | by ( Richard Galant | ) edition.cnn.com time to read: +20 min

We’re looking back at the strongest, smartest opinion takes of the week from CNN and other outlets. CNN —“I’m the one that got rid of Roe v. Wade,” former President Donald Trump boasted Tuesday on Newsmax. Congress has the power to rein in the court, wrote CNN legal analyst and law professor Steve Vladeck, whose new book “The Shadow Docket” focuses on the Supreme Court. Courtesy Boaz FreundIn 2019, then-President Trump issued an executive order requiring hospitals to post the prices of common medical services and procedures. For some, its celebration of a multiracial but purely fictional British aristocracy may even be a big part of its appeal.”As escapism, “Queen Charlotte” is a success.

☆ A Poet of the Night Whose Muses Have 9 Lives
▼ + stars: | 2023-05-19 | by ( Mike Ives | ) www.nytimes.com time to read: +1 min

Most nights, Hwang In-suk pushes a shopping cart up and down the steep alleys of her Seoul neighborhood, trailed by stray cats that emerge from shadows to greet her under glowing streetlamps and convenience store marquees. Her neighbors tend to think of Ms. Hwang, 64, merely as someone who feeds cats in the street. Only a few know that she is a celebrated poet whose work explores loneliness and impermanence in the South Korean capital. Her decades of writing span a time in which South Korea has cycled through a dizzying number of identities, including those of a country ruled by repressive military dictatorships, a fledgling democracy and, most recently, an economic power and international cultural juggernaut. Ms. Hwang said her nocturnal cat-feeding routine allows her to quietly observe not only cats, her favorite muses, but also her changing neighborhood and the underclass of a megacity that is increasingly known for its flashy exterior.

☆ Wedbush's Dan Ives says the A.I. race isn't 'hype'—there's real monetization here
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWedbush's Dan Ives says the A.I. race isn't 'hype'—there's real monetization hereDan Ives, Wedbush senior equity research analyst, joins 'Closing Bell' to discuss the winners and losers in the A.I.

☆ For Apple, emerging markets like Vietnam, India and Indonesia are 'a golden opportunity' right now
▼ + stars: | 2023-05-19 | by ( Michelle Toh | ) edition.cnn.com time to read: +6 min

Hong Kong CNN —Apple launched an online store in Vietnam this week, in another nod to the growing importance of emerging markets for the iPhone maker. Markets like Vietnam, India and Indonesia are becoming more important for Apple as its growth in developed markets, including China, slows down, prompting the company to focus on places where it’s traditionally been less active. “Clearly, growth has slowed globally and thus put more pressure [on Apple] to aggressively go after emerging markets,” said Daniel Ives, managing director of Wedbush Securities. This has “been the core part of its success in China that now can be replicated in India, Indonesia, and Vietnam, among others,” said Ives. And while consumers are becoming more affluent, the company’s price points are still considered high in many emerging markets, noted Ives.

☆ Analysis: GM's 2025 EV output could be crimped by battery bottleneck
▼ + stars: | 2023-05-18 | by ( Paul Lienert | ) www.reuters.com time to read: +4 min

"We have not changed our targets," GM spokesman Jim Cain said. Those targets include cumulative EV production of 400,000 from early 2022 through mid-2024, a revised goal that CEO Mary Barra reiterated earlier this year. "We believe GM’s targets are hittable despite hurdles to get there," Wedbush auto analyst Dan Ives said. GM has not issued specific North American EV production targets for 2024 and 2025. GM’s North American EV production targets beyond 2025 “will continue to push the limits” of its battery plants, according to AFS, including a recently announced fourth factory with new partner Samsung SDI (006400.KS) that isn’t expected to open until 2026.

☆ An Emo Band’s First U.S. Tour Began With a Robbery, but It Wasn’t All Sad
▼ + stars: | 2023-05-18 | by ( Mike Ives | ) www.nytimes.com time to read: +1 min

An international rock band’s first U.S. tour is a moment to be celebrated, a sign that years of hard work have paid off. “Then it really happened.”Forests and the Oklahoma band they were touring with, Ben Quad, are hardly the first musicians to be robbed while on tour in America. (In 1999, Sonic Youth famously lost an entire truck’s worth of gear to a thief, also in California.) But the experience was still a shock for a band from a country as safe as Singapore. “It was the worst luck ever,” said Chris Martinez, 29, a Forests fan from San Diego who discovered the band years ago on a business trip to Singapore.

☆ Alibaba plans to list cloud division as quarterly revenue misses expectations
▼ + stars: | 2023-05-18 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

In this article BABABABA Follow your favorite stocks CREATE FREE ACCOUNTAlibaba Cloud, the cloud computing subsidiary of Alibaba, unveiled its ChatGPT-style product Tongyi Qianwen during the 2023 Alibaba Cloud Summit on Tuesday morning. Bloomberg | Bloomberg | Getty ImagesAlibaba announced plans to spin off its cloud division as a separate, publicly traded company, while the e-commerce titan's quarterly revenue missed expectations. In its Thursday report, Alibaba said it plans to spin off its cloud division as a newly listed company, subject to restructuring certain assets, liabilities and contracts, and regulatory approvals. Dan Ives, an analyst at Wedbush Securities, said Alibaba's cloud spin-off plan was a "no brainer strategic move that we believe adds to the sum of the parts valuation on BABA." "We believe this was a step in the right direction for the Alibaba story," Ives told CNBC in emailed comments Thursday.

☆ Perseverance rover captures new images of ancient river evidence
▼ + stars: | 2023-05-18 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

The Perseverance rover has captured new images that appear to reveal geologic evidence of a fast-flowing river that fed into Jezero Crater, the site of an ancient Martian lake. The bands of rocks in this image of "Skrinkle Haven" taken by the Perseverance rover may have been formed by a fast-flowing river. The rover also captured a mosaic of "Pinestand," where layers of sedimentary rock could have been formed by a deep, fast-flowing river. The Perseverance team is also analyzing other images taken by the rover. We struggle even with early Earth rocks to answer this question.

☆ Elon Musk wants to approve every Tesla hire. It could take him up to 21 days of non-stop work, not counting sleep.
▼ + stars: | 2023-05-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

Elon Musk said in an email on Monday that he must approve all new Tesla hires. Elon Musk told staff he wants to approve each person that is hired at Tesla, but that won't be an easy feat. Three current Tesla employees told Insider that they've been told Musk has been heavily involved in the hiring process in the past. In 2019, Insider previously reported that recruiters received an email that all hiring request must receive "evidence" of Musk's approval. Musk and a spokesperson for Tesla did not respond to a request for comment ahead of publication.

☆ Elon Musk wants to approve every Tesla hire. That could take up to 21 days of non-stop work, not counting sleep.
▼ + stars: | 2023-05-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +4 min

☆ Elon Musk says Tesla will try out advertising for the first time in a major shift for the automaker
▼ + stars: | 2023-05-16 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk said during a shareholder meeting that Tesla will "try out" advertising for the first time. Elon Musk said Tesla will begin advertising for the first time in its history. Musk's announcement at the Tesla event was met with cheers from the crowd at the event. Musk told Faber he'd only just decided to try out advertising during the Tesla event. Musk did not specify where Tesla will begin advertising its products.

☆ Japan Is Unmasking, and Its Smile Coach Is Busy
▼ + stars: | 2023-05-15 | by ( Hisako Ueno | Mike Ives | ) www.nytimes.com time to read: 1 min

About six years ago, Keiko Kawano, a radio host, found that when she stopped doing voice-articulation exercises, her smile began to fade. At a certain point, she struggled to lift the corners of her mouth. So Ms. Kawano, then 43, decided to learn how facial muscles work. After using the knowledge to reanimate her smile, she started helping others do the same under the motto, “More smile, more happiness.”And as many people in Japan unmask after three years and find their facial expressions a bit rusty, she is adapting her work to the post-Covid era. “People have not been raising their cheeks under a mask or trying to smile much,” Ms. Kawano said last week, a few days after Japan downgraded Covid-19 to the same status as common illnesses.

☆ Photos from NASA's Mars rover show the red planet's ancient rivers were much wilder than scientists first thought
▼ + stars: | 2023-05-15 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +3 min

NASA's Mars rover found evidence to suggest deep, powerful rivers once raged on the red planet. The Perseverance rover took close-up images a specific region in Jezero Crater for the first time. The discovery may help scientists figure out what kind of ancient life existed on the planet. Scientists studying rock formations, features, and valleys on Mars, so far, have found evidence to suggest Mars was once covered by water. NASA/JPL-Caltech/ASU/MSSSAnother image from Perseverance further supports this idea of a powerful ancient river that once roared across Jezero Crater.

☆ It looks like Elon Musk is getting more involved at Tesla. Read the email he sent demanding personal approval on all new hires.
▼ + stars: | 2023-05-15 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

Elon Musk told staff he must approve all new Tesla hires, even contractors, in a company-wide email. The Tesla CEO said executives should "think carefully" before sending him a new hire. It's a sign Musk might be shifting more of his focus back to Tesla after finding a new Twitter CEO. Elon Musk is making a change at Tesla: The CEO wants to personally sign-off on each new hire. "Think carefully before sending me the request," Musk wrote in an email obtained by Insider.

☆ Elon Musk is giving Tesla shareholders reason for bullishness after his big Twitter announcement
▼ + stars: | 2023-05-15 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Wedbush maintained its outperform rating for Tesla, and shared a 12-month price target of $215, or about 27% higher than the current share price. The long wait times for vehicles, according to Piper Sandler, is a bullish sign because it means demand is robust. "The answer is complex, because wait times don't solely reflect consumers' appetite for buying Teslas vs. other cars." In effect, the lengthy wait times should be "interpreted favorably," in Potter's view. Piper Sandler's price target for Tesla is $280 a share, or more than 65% higher from current levels.

☆ Elon Musk names NBCU ad chief Linda Yaccarino as Twitter CEO
▼ + stars: | 2023-05-12 | by ( Chris Isidore | ) edition.cnn.com time to read: +7 min

New York CNN —Elon Musk on Friday named longtime media executive Linda Yaccarino as the new CEO of Twitter, months after he promised to step back from the role. “I am excited to welcome Linda Yaccarino as the new CEO of Twitter!” Musk wrote in a tweet on Friday. NBCUniversal’s ad sales team has generated $100 billion in ad sales since she joined in 2011, according to her profile, and forged partnerships with many new media companies including Twitter as well as Apple News, Buzzfeed, Snapchat and YouTube. Ad sales represented more than 90% of the company’s revenue before Musk purchased it in October. Musk has previously spoken about improving ad sales by focusing more on the relevance of its ads.

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