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☆ Harvard Business School professor says this is the No. 1 'misconception about failing'
▼ + stars: | 2024-10-30 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +2 min

"It's gonna sound weird, but success for me was failing," she told CNBC Make It. But why failing can lead to better future outcomes is generally misunderstood, says Amy Edmondson, a professor at Harvard Business School and author of "Right Kind of Wrong: The Science of Failing Well." "There's one really important misconception about failing, which is that failure and mistake are the same thing," she says. If you're pursuing a new hobby or switching into a different role at work, know that failure is likely ahead. A productive failure meets four criteria, Edmondson says.

Persons: Jeff Bezos —, Gabby Douglas, Amy Edmondson, Edmondson Organizations: CNBC, Harvard Business School

☆ New Jersey Gov. Phil Murphy on 2024 election: It feels 50-50 to me
▼ + stars: | 2024-10-30 | 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 EmailNew Jersey Gov. Phil Murphy on 2024 election: It feels 50-50 to meNew Jersey Governor Phil Murphy joins 'Squawk Box' to discuss the state of the 2024 election, early voting in his state, whether voters are voting for Vice President Kamala Harris or against former President Trump, and more.

Persons: Phil Murphy, Kamala Harris, Trump Organizations: New, New Jersey Gov Locations: New Jersey

☆ Weekend warriors have the same risk of mild dementia as more frequent exercisers, study suggests
▼ + stars: | 2024-10-30 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +7 min

CNN —People who only exercise on weekends have a similar risk of developing mild dementia to those who work out more frequently, a new study has found. A team of academics from Latin America and Europe set out to determine whether the frequency of exercise affects the risk of developing mild dementia. The finding led the team to conclude that 13% of cases of mild dementia could be avoided if all middle-aged people exercised at least once or twice a week. When compared with the group that did not exercise, the weekend warriors were 13% less likely to develop mild dementia, and those in the regular and combined groups were 12% less likely. I feel quite strongly that the weekend warriors around the world should be told that what they are doing is fine.”He added: “The weekend warrior research is starting to add up now.

Persons: Gary O’Donovan, O’Donovan, ”, “ I’ve, Chris Russell, Russell Organizations: CNN’s, CNN —, British, of Sports Medicine, School of Medicine, Colombia’s University of the, CNN, Association for Dementia, UK’s University of Worcester, World Health Organization Locations: Latin America, Europe, Mexico, Mexican

☆ 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

☆ Chinese EV maker BYD’s revenue beats Tesla for first time
▼ + stars: | 2024-10-30 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

Beijing (Reuters) — Chinese electric vehicle maker BYD posted an 11.5% rise in third-quarter net profit on Wednesday as it maintained strong sales momentum helped by government trade-in incentives. Net profit rose to 11.6 billion yuan ($1.63 billion) in the July-September quarter, the company said in a stock exchange filing. For the first nine months, net profit was up 18.1% to 25.2 billion yuan. With third-quarter revenue up 24% on year to 201.1 billion yuan ($28.24 billion), BYD’s quarterly revenue for the first time outpaced Tesla, whose revenue for the July-September quarter reached $25.2 billion. Tesla still beat BYD in terms of EV sales globally during July to September.

Persons: BYD, Tesla, Morgan Stanley Organizations: Reuters, Local, BYD Locations: Beijing, China

☆ Harris wants to upgrade America’s economy. Trump wants to blow it up and start over
▼ + stars: | 2024-10-30 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

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

☆ CDC says 90 people affected in E. coli outbreak linked to McDonald’s Quarter Pounders
▼ + stars: | 2024-10-30 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Ninety people in 13 states have been infected in a deadly E. coli outbreak linked to McDonald's Quarter Pounders, the Centers for Disease Control and Prevention said Wednesday, as it continues to investigate the source of the spread. Before Wednesday, the CDC last gave an update on the outbreak on Friday, when the agency said it had 75 cases in 13 states. Fresh slivered onions served on Quarter Pounders and other menu items at McDonald's are "the likely source of this outbreak," the CDC said on its website on Wednesday. The CDC believes the risk to the public is "very low" due to the efforts from McDonald's and Taylor Farms. Quarter Pounder hamburgers are a core menu item for McDonald's, raking in billions of dollars each year.

Organizations: Centers for Disease Control, Prevention, CDC, U.S Locations: Colorado, McDonald's, Colorado , Kansas, Wyoming, Idaho , Iowa , Missouri, Montana , Nebraska , Nevada , New Mexico , Oklahoma, Utah

☆ I'm a CEO who started a company and had a baby at the same time. Fatherhood has completely changed how I think about work.
▼ + stars: | 2024-10-30 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +6 min

Balancing family and entrepreneurship, MacKay prioritizes family time while building Cadence. AdvertisementThis as-told-to essay is based on a conversation with Andrew Ross MacKay, the 33-year-old cofounder and CEO of Cadence, based in Los Angeles. I'm now the cofounder and CEO of Cadence, a salt-based electrolyte drink. This year, my daughter, Bloom, was born on March 20Mackay and his family. My family deserves me to be at my best, and to do that, I need to feel passionate about what I'm building.

Persons: Andrew Ross MacKay, MacKay, Bloom, MacKay prioritizes, —, I'm, Peter Thiel, Drake, George Heaton, Mackay, Anastasia Hing, Anastasia, I've, Ana, I'd Organizations: Cadence, Service, Daring Foods, D1 Capital, Founders Fund, Daring, Ana Locations: Los Angeles, Glasgow, Scotland

☆ Elon Musk's xAI startup could soon be worth many times more than X
▼ + stars: | 2024-10-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Elon Musk's xAI is raising fresh funding at a $40 billion valuation, the WSJ reported. Social media network X, meanwhile, is currently valued at $9.4 billion, according to Fidelity filings. AdvertisementA new funding round in the works for xAI could value Elon Musk's startup at more than four times what his social media network, X, is currently worth, according to recent Fidelity filings. The AI startup is reportedly in talks to raise funding at a $40 billion valuation, according to the Wall Street Journal. Assuming the investment was made at X's $44 billion valuation, the fund now estimates X's value to be around $9.4 billion.

Persons: Elon Musk's, —, Musk, ChatGPT, That's Organizations: Social, Fidelity, Service, Elon, Wall Street, Sequoia Capital, Growth Locations: a16z, xAI

☆ Who will be the next president? News outlets are running out of ways to communicate the uncertainty
▼ + stars: | 2024-10-30 | by ( Brian Stelter | ) edition.cnn.com time to read: +4 min

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

☆ Millions of Movers Reveal American Polarization in Action
▼ + stars: | 2024-10-30 | by ( Ronda Kaysen | Ethan Singer | ) www.nytimes.com time to read: +15 min

Mr. Troyer, the Republican, moved to a more Republican neighborhood. Mr. Biden won Georgia in 2020, the first time a Democrat won the state since 1992. Over the same span, at least 10,000 more Republicans than Democrats moved out of the state — a third of them to Florida. In Pennsylvania, this year’s key battleground, Democratic gains actually came amid population loss: For both parties, more voters moved out than in. He says he feels more comfortable in his home in southwest Charlotte, in a precinct Mr. Biden carried by 46 points.

Persons: Joshua Fisher, Ryan Troyer, Fisher, Troyer, Donald J, Trump, Biden, uproot, Mr, —, Ben Brewer, don’t, “, ”, James Gimpel, Nobody, ‘ Gee, ’, Amanda Kathleen Greene, “ It’s, Erin Thompson, Caitlin O'Hara, Andrew Clohessey, He’d, ” Naomi Hattaway, Audra Melton, Naomi Hattaway, Robert LaRoche, that’s Organizations: Voters, Republican, Democrat, New York Times, Democrats, Republicans, Mr, —, Democratic, Georgia, Michigan — Democrats, The New York Times, University of Maryland Locations: Sioux Falls, S.D, Charlotte, N.C.Biden, Otsego, Minn.Trump, Georgia, Florida, In Arizona, California, Arizona, — Pennsylvania, Wisconsin, Michigan, Pennsylvania, Texas , Arizona, Nevada, Minnesota, Minneapolis, N.C, South Dakota, Seattle, Gilbert, Phoenix, Cedar Falls , Iowa, Atlanta, Omaha, Las Vegas, Spring Hill, Fla, Tampa

☆ Reddit's bet on AI is starting to pay off
▼ + stars: | 2024-10-30 | by ( Huileng Tan | Aditi Bharade | ) www.businessinsider.com time to read: +4 min

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

☆ Starbucks to stop charging extra for non-dairy milk substitutes
▼ + stars: | 2024-10-30 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +2 min

Starbucks will stop surcharges on non-dairy milk ahead of the holidays. AdvertisementStarbucks is giving almond milk lovers and oat milk enthusiasts a holiday gift this year. The coffee chain will stop charging extra for non-dairy milk substitutions next month, CEO Brian Niccol said during a Wednesday earnings call. Substituting non-dairy milk is the second-most popular customization, Niccol said, after an extra shot of espresso. Extra costs for non-dairy milk can reach up to 80 cents per order in certain markets, CNBC reported.

Persons: Brian Niccol, Niccol, — Organizations: Starbucks, Service, CNBC

☆ Yankees fans ejected after ripping ball from Mookie Betts’ glove during Game 4 of World Series
▼ + stars: | 2024-10-30 | by ( Ben Morse | ) edition.cnn.com time to read: +9 min

CNN —Two New York Yankees fans were ejected from Game 4 of the World Series after ripping the ball from Los Angeles Dodgers star Mookie Betts’ glove on Tuesday. They would go on to win 11-4 and cut the Dodgers' series lead to 3-1. Elsa/Getty Images Fans celebrate after the Yankees won Game 4. Mary DeCicco/MLB Photos/Getty Images Yankees outfielder Juan Soto hits a solo home run in the third inning of Game 2. Daniel Shirey/MLB Photos/Getty Images Dodgers fans celebrate a home run hit by Tommy Edman in the second inning of Game 2.

Persons: Mookie Betts, Betts, Gleyber Torres, Torres, ” Joe Davis, John Smoltz, won’t, Rustin Dodd, … it’s, “, “ We’re, Anthony Volpe, Elsa, Mike Lawrence, Brent Honeywell, Volpe, Anthony Rizzo, Seth Wenig, Luke Hales, Al Bello, Freddie Freeman, Ashley Landis, Giancarlo Stanton, Will Smith, Frank Franklin II, Freeman, Daniel Shirey, Stanton, Alex Slitz, Maddie Meyer, Sarah Stier, Smith, Alex Vesia, Harry, Michael Kopech, Jayne Kamin, Yoshinobu Yamamoto, Yamamoto, Julio Cortez, Shohei Ohtani, Mary DeCicco, Juan Soto, Tommy Edman, Rob Tringali, Carlos Rodón, — Kirk Gibson’s, Gibson, Steph Chambers, Nestor Cortes, Alex Verdugo, Jazz Chisholm, Mark J, Terrill, Aaron Judge, Brusdar Graterol, Enrique Hernández, Jack Flaherty, Fernando Valenzuela, Valenzuela, ”, Gina Ferazzi, Brad Paisley, ” Betts, I’ve, ” It’s Organizations: CNN, New York Yankees, Los Angeles Dodgers, Yankees, Dodgers, Fox, New York, Athletic, ESPN, MLB, Getty, North, AP Yankees, The Dodgers, Yankee, USA, Sports, Reuters, AP Dodgers, Dodger, Los Angeles Times, Venezuelan Locations: North America, LA’s

☆ Flash floods are a worsening scourge worldwide — here's why
▼ + stars: | 2024-10-30 | by ( Mikhaila Friel | Hannah Abraham | ) www.businessinsider.com time to read: +7 min

Flash floods are becoming more common and more intense due to global warming. The impact of flash flooding can be particularly severe because, often, there is very little warning. Why are there more flash floods? The Environmental Defense Fund (EDF), a US-based nonprofit, said flash flooding has intensified because of increased rainfall and heat waves. Mateo Villalba Sanchez/Getty ImagesNon-environmental factors, such as new infrastructure and better weather warnings, can help prevent the impact of flash flooding.

Persons: Ernesto Rodríguez Camino, —, Mateo Villalba Sanchez, Jess Neumann, John Marsham, Liz Stephens, shouldn't, Stephens Organizations: Service, European Environment Agency, Victoria University of Wellington, Spanish Meteorological Association, Environmental Defense Fund, EDF, World Health Organization, WHO, University of Reading, University of Leeds, US Army Corps of Engineers Locations: Spain, Florida, Europe, New Zealand, US

☆ Harris plays cleanup on Biden 'garbage' comment
▼ + stars: | 2024-10-30 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

Vice President Kamala Harris on Wednesday distanced herself from President Joe Biden's controversial comment that appeared to label supporters of former President Donald Trump as "garbage." Harris also said that Biden had "clarified" the comment he made Tuesday. "Just the other day, a speaker at his rally called Puerto Rico a 'floating island of garbage,'" Biden said on the call. In this version, it seemed that Biden was saying the "garbage" was Hinchcliffe's demonization of Latinos, not Trump supporters. In 2020, Biden beat Trump in the state by fewer than 81,000 votes, a margin of less than 1.2%.

Persons: Kamala Harris, Joe Biden's, Donald Trump, Harris, Biden, Tony Hinchcliffe, It's, we've, Trump, Hillary Clinton Organizations: Democratic, Air Force, Joint Base Andrews, GOP, Puerto Ricans, Trump, White, Puerto Rico spewed, Puerto Rican, Biden Locations: Maryland, Raleigh , North Carolina, New York City, Puerto Rico, Puerto, Madison, Puerto Rico . Pennsylvania, Pennsylvania

☆ AMD CEO Lisa Su says GPU and CPU sales are nearly equal. Wall Street thinks that's not enough.
▼ + stars: | 2024-10-30 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +3 min

AMD's GPU sales are nearing CPU sales, driven by AI data center demand. AMD raised its 2024 GPU sales forecast to over $5 billion, up from $4.5 billion. AdvertisementWhat could also keep this dynamic from becoming permanent is the immaturity of the ecosystem around AMD GPUs. UBS analysts warned that 2025 may be yet another transition year in which AI data centers and GPU sales don't reach maturity — predicting higher GPU sales in 2026 than in 2025. The analysts expect $5 billion in GPU sales this year to reach around $8 billion next year.

Persons: —, Lisa Su, Su, Morgan Stanley Organizations: AMD, Service, Bank of America, Nvidia, UBS

☆ Nate Silver: Don't trust the Trump swing in 2024 presidential election polls, betting markets data
▼ + stars: | 2024-10-30 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +4 min

Silver told Fortt that his current model shows the odds favoring Trump, who holds a 55% to 45% win probability advantage over Harris. Most people no longer even have the landline phones which past election cycle polling history relied on. Why the betting markets may be all 'vibe and chatter'The betting markets show a much bigger edge for Trump, with major wagers placed on Polymarket, Robinhood jumping into the action, and presidential election contracts surging in popularity. Critics have raised concerns that the election betting markets are potentially being manipulated. But Silver, who is a consultant to one of the leading prediction markets, Polymarket, says he wouldn't pay much attention to the betting markets data right now, as they simply may not be very accurate at this moment in the election cycle.

Persons: Nate Silver, Donald Trump, Kamala Harris, Silver, Trump, CNBC's, Jon Fortt, Fortt, Harris, Ken Griffin, Stanley Drunkenmiller, Critics Organizations: New York Times, CNBC Technology, CNBC, Trump, Trump Media Locations: New York City

☆ $2 billion marina development aims to turn Fort Lauderdale into 'mini Monaco'
▼ + stars: | 2024-10-30 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Renderings of plans for a new development at the Bahia Mar marina in Fort Lauderdale, Florida. Courtesy: ArX CreativeA team of developers including Related Group is launching a $2 billion development at the largest marina in Fort Lauderdale, Florida, aiming to create a "mini Monaco," according to executives. Renderings of plans for a new development at the Bahia Mar marina in Fort Lauderdale, Florida. Renderings of plans for a new development at the Bahia Mar marina in Fort Lauderdale, Florida. Renderings of plans for a new development at the Bahia Mar marina in Fort Lauderdale, Florida.

Persons: —, Nick Perez, Jorge Perez, Jimmy Tate, Perez Organizations: Fort Lauderdale, Related, Miami, Tate Capital, Rok Enterprises, Fort, U.S, Enterprises Locations: Bahia Mar, Fort Lauderdale , Florida, Bahia, Fort, Fort Lauderdale —, South Florida, Monaco, Regis, Fort Lauderdale, Europe, Latin America

☆ A 14th-century church that has been abandoned for 50 years is now filled with 'ghosts.' Look inside.
▼ + stars: | 2024-10-30 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

In the tiny Czech town of Lukova, there is a church that has stood for hundreds of years. People avoided the church because it was haunted, so it now houses dozens of life-size "ghosts." Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementIn the town of Luková in the Czech Republic sits St. George's Church, but it's not your typical place of worship. If you can't make your way to the Czech Republic, here's what it looks like inside St. George.

Persons: —, it's, Jakub Hadrava, George Organizations: Service Locations: Czech, Lukova, Luková, Czech Republic, St, George's

☆ China lost 36% of its billionaires to years of economic troubles and crackdowns
▼ + stars: | 2024-10-30 | by ( Hannah Abraham | ) www.businessinsider.com time to read: +7 min

According to Hurun's 2024 rich list, China lost 432 billionaires since the high of 1,185 in 2021. Hurun, a private research group that has tracked Chinese billionaires since 1999, said the total peaked in 2021 with 1,185 billionaires, a figure which fell to 753, a decline of 432, or 36% of the total. It comes as some of China's superrich choose to lie low or leave the country, finding covert ways to take their money with them. "The stories of the individuals on the Hurun China Rich List tell the story of the Chinese economy," said Rupert Hoogewerf, Hurun's Chairman and Chief Researcher. AdvertisementThat led, among other things, to regulatory crackdowns on tech platform companies and campaigns against China's rich entrepreneurs.

Persons: —, crackdowns, China's superrich, Zhang Yiming, Bytedance, Yiming, Zhong Shanshan, Rupert Hoogewerf, Robin Zeng, Li, Kerry Brown, Xi, Jack Ma, Alibaba, Brown, Joel Gallo, China shouldn't, it's Organizations: Service, Reuters, King's College London, Ant Group, & Partners, Bloomberg, New York University Shanghai, Communist Locations: China, Taiwan, Greater China

☆ CNBC Daily Open: Everyone gave Reddit an upvote
▼ + stars: | 2024-10-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. It's not too surprising, then, that the companies behind those services – Snap , Reddit and Alphabet – reported third-quarter results that beat Wall Street's expectations. It's Meta's and Microsoft's turn to report earnings later today. Note: CNBC Daily Open will be on a break Thursday, Oct. 31, for the public holiday in Singapore.

Persons: Rachel Reeves, Reddit, Evan Spiegel, That's, It's, Microsoft isn't, Meta, — CNBC's Julia Boorstin, Jonathan Vanian, Jennifer Elias Organizations: New York Stock Exchange, Inc, CNBC, Finance, Google, Microsoft, Meta Locations: Singapore

☆ Eli Lilly's quarter was messy. What to do with the stock is more clear-cut
▼ + stars: | 2024-10-30 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +11 min

The report was messy, but it doesn't dim Eli Lilly's bright multiyear outlook, rendering the dip in the stock as a chance to buy. LLY .SPX 5Y mountain Eli Lilly's five-year stock performance compared with the S & P 500. Bottom line We're upgrading Eli Lilly to our buy-equivalent 1 rating and leaving our price target of $1,000 a share unchanged. Eli Lilly Why we own it: Eli Lilly's best-in-class drugs should enable growth above the industry average for many years to come. Eli Lilly's new Alzheimer's drug Kisunla, which was approved by the FDA in July, was not a major focus on the call.

Persons: Eli Lilly, Eli, Eli Lilly's, Jim Cramer, Jim, —, that's, David Ricks, Ricks, Semaglutide, Wegovy, Lilly, There's, Mounjaro, Trulicity, Verzenio, Jim Cramer's, Cristina Arias Organizations: Revenue, The Club, CNBC, JPMorgan, Novo Nordisk, Food, Novo Nordisk's, FDA, Zepbound, Biogen, Merck, Pfizer, Morphic, Company, Pharmaceutical Locations: Tuesday's, U.S, Novo, Eisai, FactSet, Zepbound, Alcobendas, Madrid, Spain

After months of incremental measures, Chinese President Xi Jinping in late September led a top-level meeting that vowed to "halt the real estate market decline." Earlier this month, the Finance Ministry introduced more measures aimed at stabilizing the real estate sector. Property sales and new home construction are unlikely to stabilize until 2027, Goldman forecast. watch nowS&P Global Ratings and Morgan Stanley this month also published reports forecasting China's real estate market will bottom in the second half of 2025. China's latest efforts to bolster confidence have given the real estate market a lift.

Persons: Xi Jinping, Goldman Sachs, Goldman, Morgan Stanley, Edward Chan, Nomura Organizations: China Vanke Co, Bloomberg, Getty, Finance Ministry, Goldman, China Index Academy, P Global, National Bureau of Statistics Locations: China, Hefei, Beijing

☆ Dropbox lays off 20% of employees and joins Big Tech's flattening trend. Read CEO Drew Houston's memo.
▼ + stars: | 2024-10-30 | by ( Jaures Yip | ) www.businessinsider.com time to read: +3 min

Dropbox is laying off 528 employees, about 20% of its workforce, and making the company flatter. AdvertisementDropbox is the latest major company to slash its staff and flatten its organizational structure. "We've heard from many of you that our organizational structure has become overly complex, with excess layers of management slowing us down." Mark Zuckerberg instituted manager cuts and increased the average number of direct reports for Meta managers after complaining about "managers managing managers." Houston's memo to employees at the time also attributed those layoffs to headwinds and freeing up investment bandwidth for more products powered by artificial intelligence.

Persons: Drew Houston, —, I'm, Houston, We've, Andy Jassy, Mark Zuckerberg, Dropbox Organizations: Service, —, Amazon

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