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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle continues to gain search market share despite new LLMs, says Truist's Youssef SqualiYoussef Squali, Truist Securities global head of internet research, joins 'Squawk on the Street' to discuss Squali's take on Alphabet's quarterly earnings results, 'green chutes' Squali sees in Google's search business, and much more.
Persons: Truist's Youssef Squali Youssef Squali Organizations: Google, Truist Securities
Zhang Yiming has built a $49.3 billion fortune since cofounding ByteDance, the Chinese tech giant behind TikTok. He recently became the richest person in China. AdvertisementThe widespread popularity of TikTok has created not only a new generation of social media stars — it's also helped mint China's wealthiest person. Zhang is a highly private person and little is publicly known about his personal life. He has recently, however, been thrust back into the spotlight after being named on the list as the richest person in China.
Persons: Zhang Yiming, cofounding ByteDance, Zhang, , TikTok, — it's Organizations: Service Locations: China
The focus on advanced technologies has put the two countries into a different kind of arms race. The US Air Force secretary suggested that AI could be decisive in future warfare. On Tuesday, Air Force Secretary Frank Kendall said China has been effectively modernizing the People's Liberation Army, fielding systems with the intent of challenging US forces, especially its high-value combat assets like carriers and satellites. China has built up its Rocket Force, developing capabilities that put US military assets at military bases and airfields across the Indo-Pacific within striking range. The Air Force secretary said that he doesn't think people who say that AI is "going to determine who's the winner in the next battlefield" are "all that far off."
Persons: , Frank Kendall, Kendall, Xi Jinping, Sarah Weinstein, Giancarlo Casem Organizations: US Air Force, Service, Air Force, People's Liberation Army, Microelectronics, National Semiconductor Technology, PLA, Eastern Theater Command, Weibo, Department of Defense, Rocket Force, Navy, DARPA, USAF, Marines Locations: China, Taiwan, Beijing, Ukraine
Tesla's falling California sales point to bigger problems for the car company. AdvertisementTesla is losing some ground in its home state of California, signaling more trouble ahead for the world's largest electric car company. As electric car sales rose 2% in California, Tesla's sales in the state fell 3.5%, according to third-quarter figures from the California New Car Dealers Association. The losses don't upset Tesla's market dominance: the Elon Musk-led company still accounted for more than half of all EV sales in California for the quarter. "Tesla's sales are actually doing great," he said during a recent X space.
Persons: , Tesla, That's, Elon, Elon Musk, Donald Trump, Jason Bateman, Bateman, Tim Walz, Sean Hayes, Will Arnett, it's, MAGA Organizations: Service, Car Dealers, EV, Hyundai, BMW, Republican, Trump, Cox Automotive Locations: California
New York CNN —“Jump ball.” “Coin flip.” “Toss up.” “Dead heat.” “Deadlocked.” On TV and online, political analysts are running out of ways to say the presidential race is effectively tied. As CNN’s Dana Bash said on “Inside Politics” Tuesday, “this race could not be closer.”In this final week of the campaign, the most important thing for the news media to communicate is uncertainty. On the right, former President Donald Trump and many of his right-wing media allies are expressing unbridled confidence that the Republican is going to win next week. “I spend more hours figuring out ways to say this race is close than New Yorkers spend in traffic,” Enten quipped. Even after all the polls are closed, there may still be uncertainty about the outcome since different states tabulate votes in different ways.
Persons: , ” “, CNN’s Dana Bash, Rick Klein, Donald Trump, Laura Ingraham, Jesse Watters, Trump, Matt Lewis, Donie O’Sullivan, , Kamala Harris, they’re, Michelle Obama, Harry Enten, ” Enten, Enten, Harris, “ I’ve, ” Anthony Salvanto, ” Salvanto Organizations: New, New York CNN, , ABC News Washington, CNN, Republican, Fox News, Trump, MSNBC, Fox, Journalists, CBS News Locations: New York, “ MAGA, New
There’s nothing subtle about the Trump agenda. And there is a real fear that the Trump agenda could do more harm than good – especially on the inflation front. They point to study after study that finds Americans have borne almost the entire cost of Trump’s tariffs on Chinese products. And that estimate does not even include almost-definite retaliation from other nations who would respond to Trump tariffs with ones of their own. Harris has called for only partially extending the 2017 Trump tax cuts.
Persons: Kamala Harris, Donald Trump’s, Harris, Trump, Oprah, “ Trump, Joe Brusuelas, , That’s, Donald Trump, ” Trump, there’s, ” Kimberly Clausing, nonresident, Joe Biden, Trump’s, Organizations: New, New York CNN, RSM, CNN, Trump, Federal, Wall Street Journal, Peterson Institute for International Economics, Biden, Federal Reserve, Peterson Institute, Social Security, NBC Locations: New York, China, Mexico
Microsoft is still spending massively on AI
  + stars: | 2024-10-30 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +4 min
Investors have been focused on Big Tech AI spending and returns. That's a worry at Microsoft partly because feedback on the company's Copilot AI has been mixed. Others have been concerned that Big Tech spending on artificial intelligence is outpacing results. Goldman said Microsoft has been counting on its AI Copilot and other generative AI efforts at Windows, Edge, and Microsoft 365 to draw enterprise clients. AdvertisementMuch of Microsoft's spending has been going toward data centers, graphics processing units, and other AI projects.
Persons: , Jeremy Goldman, Goldman, it's, Satya Nadella, Francine McKenna Organizations: Investors, Big Tech, Service, Microsoft, Apple, Windows, Bloomberg Locations: Redmond, Washington, OpenAI
Starbucks' new CEO, Brian Niccol, is set to lay out plans to turn around the struggling coffee chain. "It is clear we need to fundamentally change our strategy to win back customers," he said Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementStarbucks' new CEO, Brian Niccol, says he has a plan to turn around the struggling coffee chain — but investors will need to wait a little longer. "It is clear we need to fundamentally change our strategy to win back customers," Niccol said in a statement Wednesday.
Persons: Brian Niccol, , Niccol Organizations: Starbucks, Service Locations: China
Popular brands among runners will include Nike, Hoka, Bandit, and Lululemon. Luxury apparel companies like Minted New York and Loewe collaborate with running brands like Saucony and On Running, while even run clubs like Endorphins Running include merch drops. Reneé Noe, a running influencer who started the Noe Bad Vibes running club for women, said she sees AlphaFlys a lot, too. They blew up in popularity in the last few years; in 2021, they were dubbed as some of the most iconic running hats by Believe in the Run, a running media company. AdvertisementShe and Mazarra also said the running belt ($38) is a big hit in the running world, and Noe is a huge fan.
Persons: , Loewe, Michael Mazarra, Mazarra, they're, Reneé Noe, Noe, Ciele's GOCaps, Nick Bare's, SPIbelt, fanny, FlipBelt, Gu, Eliud Kipchoge, Lululemon Noe, it's, Venu, COROS, Oakley, Lite Oakley Mazarra Organizations: Nike, Service, York City, Nike Nike, GOCap, FlipBelt, Maurten, Tech, PACE, Garmin, Pace, Oakley Locations: New York, Vaporflys, Brooklyn, New England, California
Starting next week, Starbucks customers will no longer pay more for adding non-dairy milk to their orders. The company said the removal of the non-dairy milk surcharge means customers who request it will pay around 10% less than they did previously. Orders with milk substitutions have proliferated at Starbucks in recent years, alongside non-dairy alternatives in grocery stores. Non-dairy milk has become the second most common order modification at Starbucks, behind adding a shot of espresso. Starbucks is scaling back promotional offers through its mobile app to get customers to pay full price for its coffees and teas.
Persons: Brian Niccol, ” Niccol, it’s, Niccol Organizations: New, New York CNN, Starbucks, Locations: New York, Canada
An Airbus A321XLR Neo passenger aircraft performs a flying display at the Paris Air Show in Le Bourget, Paris, France, on Monday, June 19, 2023. Airbus said Wednesday that it has handed over its first extra-long-range narrow-body aircraft, the A321XLR, marking another step in an era of smaller and more fuel-efficient jets flying longer distances, and further expanding a delivery gap between Airbus and rival Boeing . The first aircraft was delivered to Spain's Iberia, which plans to debut it between Madrid and Boston next month. American Airlines and United Airlines have also ordered the 321XLRs. The plane maker has been working on getting the aircraft certified for five years.
Organizations: Airbus, Paris Air, Boeing, American Airlines and United Airlines, JetBlue Locations: Le Bourget, Paris, France, Iberia, Madrid, Boston, New York, Amsterdam
The company saw a 68% revenue increase and a 47% rise in daily active visitors in Q3. Reddit's third-quarter revenue soared 68% to $348.4 million from a year ago, comfortably beating analysts' expectations of $312.8 million. This positive net increase was consistent with its second-quarter results, during which the platform saw a 51% increase in daily active users globally. Elon Musk's X reported 1.6% growth in daily active users in 2024's second quarter, per the FT. The daily active users on all of Meta's platforms combined, which include Facebook, Instagram, and Threads, increased by 7%, according to its second-quarter earnings report.
Persons: , Steve Huffman, Huffman, Reddit, AMAs, Elon Musk's, Jefferies, RDDT Organizations: Service, Analysts, Global, Elon, Facebook, New York Stock Exchange Locations: Spanish
The Australian flag is in front of Christiansborg Palace in Copenhagen, Denmark, on January 14, 2024. Asia-Pacific markets were set for a mixed open Wednesday after key Wall Street benchmarks rose, with the Nasdaq Composite closing at a new record high as tech stocks gained. Traders in Asia will assess consumer price data out of Australia, with inflation for the quarter ended in September expected to fall to 2.9%, down from 3.8% in the previous quarter. Japan's Nikkei 225 futures pointed to a higher open for the market, with the contract in Chicago at 39,255 and its counterpart in Osaka at 39,160 compared to the index's previous close of 38,903.68. Hong Kong Hang Seng index futures were at 20,746, higher than the index's last close of 20,701.14.
Persons: Australia's Organizations: Nasdaq, Traders, Nikkei Locations: Christiansborg, Copenhagen, Denmark, Asia, Pacific, Australia, Chicago, Osaka, Hong Kong
Former FTX executive Nishad Singh was sentenced to time served and three years of supervised release on Wednesday, becoming the fourth ex-employee of the collapsed crypto exchange to be punished. He asked Judge Kaplan to show Singh "the same compassion he has shown others his entire life." Ray said Singh made substantial productions of documents, and he voluntarily returned Bahamian real estate purchased with FTX funds. Ryan Salame, another former top lieutenant of Bankman-Fried, was sentenced to seven and a half years in prison in May. WATCH: Caroline Ellison sentenced to two years in prison for role in FTX collapse
Persons: Nishad Singh, Claire Watanabe, Singh, Judge Lewis Kaplan, Sam Bankman, Caroline Ellison, Ellison, spiraled, Fried, Andrew Goldstein, Nicolas Roos, Roos, Judge Kaplan, Gabe, John Ray, Ray, Ryan Salame, Gary Wang, FTX, — CNBC's Dan Mangan Organizations: Engineering, Exchange, New, Alameda Research, Southern, of, Prosecutors Locations: New York, Alameda, Bankman, of New York, Manhattan, Bahamian
New York CNN —The Washington Post, Los Angeles Times and USA Today may have declined to endorse a candidate in this year’s presidential election. “The Washington Post and Los Angeles Times, and all these papers. “Washington [Post] and USA Today, congratulations. A Washington Post spokesperson referred CNN to Lewis’ statement from last week. In the wake of the non-endorsements, more than 250,000 Post readers have canceled their subscriptions, while the Times reported more than 7,000 subscribers canceled for “editorial reasons.”CNN’s Kate Sullivan contributed reporting.
Persons: Donald Trump doesn’t, Trump, They’re, , , we’re, Kamala Harris, Will Lewis, Lewis, Harris, Jeff Bezos, Patrick Soon, Bezos, ” CNN’s Kate Sullivan Organizations: New, New York CNN, Washington Post, Los Angeles Times, USA, Leadership, Times, Trump, CNN Locations: New York, North Carolina, “ Washington
General Motors CEO Mary Barra said on Tuesday that EV manufacturers face steep competition in China. It's not sustainable for EV manufacturers like GM, Barra said. AdvertisementGeneral Motors CEO Mary Barra said there are so many companies trying to sell EVs in China right now that it's driving a price war that isn't sustainable. "You have to look at what the sustainable business is because the situation that is there right now is not sustainable," Barra said. In China specifically, GM sold 14% more vehicles in the third quarter than in the second.
Persons: Mary Barra, Barra, , she's Organizations: EV, GM, Service, General, TechCrunch, European, BI, China EV, Benz Locations: China, San Francisco
Swiss banking titan UBS on Wednesday posted a large profit beat, after completing its first wave of client migrations following its integration of collapsed domestic rival Credit Suisse. Net profit attributable to shareholders came in at $1.43 billion, compared with a mean forecast of $667.5 million in a LSEG poll of analysts. UBS defends it is not "too big to fail." UBS still faces the lofty tasks of integrating its IT system with that of Credit Suisse, along with migrating clients — with the latter transition set to take around 18 months, Reuters reported earlier this month. The UBS results come after the profit beat of Germany's largest lender Deutsche Bank last Wednesday and join this week's spate of third-quarter reports from European lenders, including from BNP Paribas and Santander.
Persons: Sergio Ermotti, Goldman Sachs, Morgan Stanley Organizations: UBS, Wednesday, Credit Suisse, Credit Suisse —, Reuters, Swiss National Bank —, Deutsche Bank, BNP Paribas, Santander
You’ve probably heard a lot about the gender gap in presidential politics by now. And this most of all: In modern presidential politics, the gender gap has never been wider, but it gets particularly large when we break out gender by educational attainment. KerrY Bush Obama McCain Obama Romney Clinton Trump Biden Trump Harris Trump +40 Dem. KerrY Bush Obama McCain Obama Romney Clinton Trump Biden Trump Harris Trump +40 Dem. The story of this election could well be the gender gap between those Americans who went to college and those who didn’t.
Persons: You’ve, Donald Trump, Kamala Harris, Harris, Trump, KerrY Bush Obama McCain Obama Romney Clinton Trump Biden, KerrY Bush Obama McCain Obama Romney Clinton Trump Biden Trump Harris, Joe Biden, Hillary Clinton’s, , Trump’s, JD Vance, , Vance, Biden, Ronald Reagan, Reagan, Joe Rogan’s, Joe Rogan, Brené Brown, Wade, Joe Biden’s, Amanda Iovino, Glenn Youngkin’s Organizations: Trump, Harris, women, Pew, Mr, Pew Research, Facebook, Democratic, Pew Research Center, KerrY Bush Obama McCain Obama Romney Clinton Trump Biden Trump, KerrY Bush Obama McCain Obama Romney Clinton Trump Biden Trump Harris Trump, ., Election, Republicans, Republican Party, Democratic Party, America, Lake Research Partners, Democratic National Committee, WPA Intelligence, Republican, Republican National Convention, Democratic National Convention, YouTube Locations: American, New York, Roe
CNN —China has a new richest person – and it’s the entrepreneur behind the wildly popular, and controversial, app TikTok. Zhang Yiming, 41, co-founder of TikTok’s parent company ByteDance, topped the 2024 Hurun China Rich List, released Tuesday. His wealth reached $49.3 billion, as assessed by research, media and investment group Hurun Inc, which publishes the ranking of the country’s richest people. ByteDance also holds China’s popular news app Toutiao and Douyin, TikTok’s sister app in China. Billionaires on the declineOverall, the number of US-dollar billionaires in China shrank to 753, down 142 from the previous year.
Persons: Zhang Yiming, Zhang’s ascendency, Hurun, TikTok, it’s, , Zhang, Liang Rubo, ByteDance, Zhong Shanshan, Zhong, Ma, Rupert Hoogewerf, Organizations: CNN, Hurun Inc Locations: China, India, Britain, Canada, Australia, Beijing, Hong Kong, Macao, Taiwan
Chipotle says it's tried to ensure "consistent and generous portions" after customer complaints. The move and unusual price fluctuations for avocados have hit the chain's profitability. Profit margins for the chain suffered last quarter due to a concerted effort to provide "consistent and generous portions" in every order, the company said Tuesday. "We are committed to ensuring that we give the right portion to every guest that walks into the building." Related storiesWhile that's good news for Chipotle diners, the chain said it was partly the reason for a hit to profitability in the last fiscal quarter.
Persons: Chipotle, it's, , Scott Boatwright, Adam Rymer Organizations: Service, New York Locations: Chipotle, New York City
New York Yankees captain Aaron Judge smacks a two-run home run in Game 5 of the World Series on Wednesday, October 30. Mary DeCicco/MLB/Getty Images Dodgers pitcher Jack Flaherty reacts in the dugout after he was relieved in the second inning down 4-0. Al Bello/Getty Images The Yankees' Anthony Volpe hits a grand slam in Game 4 of the World Series on Tuesday. They would go on to win 11-4 and cut the Dodgers' series lead to 3-1. Alex Slitz/Getty Images The best photos from the 2024 World Series Prev NextThis is a developing story and will be updated.
Persons: Angeles, Aaron Judge, Jazz Chisholm, Giancarlo Stanton, Gerrit Cole’s, Mike Lawrence, Gavin Lux, Mookie Betts, Blake Treinen, Anthony Rizzo, Walker Buehler, Alex Verdugo, Mary DeCicco, Jack Flaherty, Brad Penner, Chisholm, Judge, Sarah Stier, Al Bello, Anthony Volpe, Elsa, Brent Honeywell, Gleyber Torres, Volpe, Seth Wenig, Luke Hales, Freddie Freeman, Ashley Landis, Will Smith, Frank Franklin II, Freeman, Daniel Shirey, Stanton, Alex Slitz, Maddie Meyer, Smith, Alex Vesia, Harry, Michael Kopech, Jayne Kamin, Yoshinobu Yamamoto, Yamamoto, Julio Cortez, Shohei Ohtani, Juan Soto, Tommy Edman, Rob Tringali, Carlos Rodón, — Kirk Gibson’s, Gibson, Steph Chambers, Nestor Cortes, Mark J, Terrill, Brusdar Graterol, Enrique Hernández, Flaherty, Fernando Valenzuela, Valenzuela, , Gina Ferazzi, Brad Paisley Organizations: CNN, Los Angeles Dodgers, New York Yankees, Yankee, Dodgers, New York, LA, MLB, Yankees, Getty, Reuters, North, AP Yankees, The Dodgers, USA, Sports, AP Dodgers, Dodger, Los Angeles Times Locations: North America
Niccol's overarching message: A bunch of changes, both big and small, are coming to Starbucks' menu, mobile app and stores that should satisfy all parties involved. Starbucks stock didn't do much in the five sessions since then, ending Wednesday at $97.32 a share. Starbucks is far from a quick fix, but Niccol on Wednesday night demonstrated that the optimism may not be misplaced. As for mobile orders, which account for more than 30% of transactions, the CEO said Starbucks will tweak its algorithm so that it provides specific pickup times to customers. Investors are hoping Starbucks' stock returns are reminiscent of that tenure, too.
Persons: Brian Niccol, Jim Cramer, Niccol, Wall, , Laxman Narasimhan —, Howard Schultz, Jim, Rachel Ruggeri, we've, Jim Cramer's, Jakub Porzycki Organizations: Starbucks, Chipotle, Investors, CNBC, Nurphoto, Getty Locations: U.S, China, Chipotle, Manhattan Beach , California
“Today, I am restoring stability to our public finances and rebuilding our public services,” Reeves said, arguing that the now-opposition Conservative Party had “failed” Britain, including by inadequately budgeting for required government spending. A black hole in the public finances. Public services on their knees. The government will instead introduce a new tax system for such individuals, raising £12.7 billion ($16.5 billion) over the next five years. The tax hike will eventually raise £25 billion ($33 billion) per year.
Persons: Rachel Reeves, ” Reeves, , Reeves, Jeremy Hunt’s, Hunt Organizations: London CNN, Labour, Conservative Party, National Health Service, Labour Party, ’ National Insurance Locations: United Kingdom, , Britain
AdvertisementChina's warplanes are pressuring Taiwan and have all but eliminated an important dividing line, with near-daily incursions creating a dangerous new normal. Since 2020, Taiwan has released regular, almost daily updates on incursions in its air defense identification zone by Chinese military aircraft. In 2021, the Chinese military flew 972 aircraft into Taiwan's ADIZ, and that number nearly doubled in 2022. "We've become desensitized to high numbers of the military aircraft flying across the median line of the Taiwan Strait," Shattuck told Business Insider. AdvertisementChinese incursions are tiring out Taiwan's forcesThe near-daily ADIZ incursions aren't just changing the status quo in the area; they're also exhausting Taiwan's military.
Persons: , Thomas J, Shattuck, Benjamin Lewis, They're, Nancy Pelosi, We've, hasn't, Lai Ching, of National Defense Yen Teh, Lewis, Lai, Taiwan's, Amanda Hsiao, GAO Organizations: Service, Foreign, Research, deconfliction, Taiwan, Getty, CAP, People's Liberation Air Force, Taiwan's Military News Agency, Anadolu, Getty Images, People's Liberation Army, of National Defense, Democratic Progressive Party Locations: Taiwan, China, AFP, Taiwan Strait, Taiwan's, Getty Images China, Taipei, Washington, Beijing, Taiwan's ADIZ, United States
AdvertisementThis as-told-to essay is based on a conversation with Ceinwen Giles, 48, co-CEO of Shine Cancer Support, who lives in London. Weeks after giving birth to my first child at 34, I was diagnosed with stage four cancer. Ceinwen GilesTreatment left a permanent markI don't think that there was any part of my life that wasn't affected by cancer. I didn't know anyone my age with cancerCeinwen Giles and Emma Willis founded Shine Cancer Support in 2012. She was diagnosed with breast cancer when she was 29 and was organizing coffees for younger adults with cancer.
Persons: Ceinwen Giles, , I'm, It's, hypervigilant, chemo, Emma Willis, it's, We've, you've Organizations: Service, Shine, Shine Cancer Locations: London, West Africa, Sierra Leone
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