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☆ Supersonic planes will replace conventional jets in our lifetime, says aviation CEO
▼ + stars: | 2024-03-30 | by ( Maureen O'Hare | ) edition.cnn.com time to read: +9 min

It’s a milestone moment in the highly anticipated new era of supersonic travel. Now, 10 years after the Boom Supersonic project began in 2014, CEO Blake Scholl tells CNN Travel over video call, there are an exciting few months ahead. “The advent of digital engineering is a huge enabler for why supersonic flight’s coming back,” explains Scholl. Courtesy Boom Supersonic‘If we have faster airplanes, we don’t need as many’He also argues the case for other efficiencies offered by faster flight. Scholl says, “2024 is going to be one of the biggest years yet for supersonic flight.

Persons: Blake Scholl, ”, Scholl, “, Lockheed Martin’s, We’ve, “ There’s, it’s, we’ll Organizations: CNN, Mojave Air, Space, CNN Travel, ”, French Concorde, NASA, Lockheed, “, Concorde, SAF, American Airlines, United Airlines, Japan Airlines Locations: Colorado, California, Soviet, British, French, Atlanta, Concorde, Mojave , California, London, New York, Greensboro , North Carolina

☆ What's driving the post-strike rally for the big three U.S. automakers?
▼ + stars: | 2024-03-27 | 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 EmailWhat's driving the post-strike rally for the big three U.S. automakers? Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: U.S, CNBC

☆ Why a small China-made EV has global auto execs and politicians on edge
▼ + stars: | 2024-03-22 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

The rise of BYD and other Chinese automakers led Tesla CEO Elon Musk in January to warn that Chinese automakers will "demolish" global rivals without trade barriers. Caresoft, an engineering benchmarking and consulting firm, has already torn down one China-built BYD Seagull and is preparing to do another. Michael Wayland / CNBCThe consulting firm tore apart the BYD Seagull piece by piece to benchmark the small EV against vehicles from other startups and traditional automakers. Its initial study of the BYD Seagull found it to be efficiently and simplistically designed, engineered and executed, but with unexpected quality and anticipated reliability. Growing concernsBYD's rise comes at a precarious time for global auto industry dynamics.

Persons: It's, Terry Woychowski, Warren Buffett, —, BYD, Tesla, Elon Musk, Caresoft Bernstein, Nissan, Michael Wayland, Caresoft, simplistically, Woychowski, Mathew Vachaparampil, CNBC BYD, Stellantis —, Donald Trump, Zach Gibson, Jennifer Granholm, Republican Sen, Marco Rubio, Trump, –, GM Dong, Tang, Marin Gjaja, Gjaja, Ford, you've, Evelyn Cheng, Dylan Butts Organizations: Shanghai International Automobile Industry, National Exhibition, Convention Center, Visual China, Getty, U.S, General Motors, Caresoft, Alliance for American Manufacturing, Overseas, Chevrolet, Nissan Leaf, Bolt, Chicago Federal Reserve, BYD, CNBC, Cox Automotive, Seagull, Tesla, Toyota Motor, Nissan Motor, Honda Motor, Hyundai, Kia, — GM, Ford, Chrysler, U.S ., Washington , D.C, Bloomberg, Republican, North American Free Trade, Republicans, Buick, SAIC, GM, GM Dong Yue Motors Co, Detroit Locations: Shanghai, LIVONIA, Mich, –, China, Europe, Latin America, Detroit, Texas, Germany, Japan, U.S, Livonia , Michigan, America, XPENG, Mexico, Thailand, Brazil, Indonesia, Hungary, Uzbekistan, ., Washington ,, United States, Marco Rubio of Florida, Yantai, Shandong Province

Media magnate Rupert Murdoch, who turns 93 next week, has been married four times — and is engaged again, his representative said Saturday. He plans to marry Elena Zhukova, 67, a Russian-born retired scientist he met last year. Their daughter Dasha was previously married to Russian billionaire Roman Abramovich, who used to own the Premier League football club Chelsea. Murdoch has been married four times and shares six children with three of his wives. These four Murdoch children have the same stake in the family trust and an equal say in what happens to the trust’s voting stock upon Murdoch’s death.

Persons: Rupert Murdoch, Elena Zhukova, Alexander Zhukov, Dasha, Roman Abramovich, Murdoch, Lachlan, Fox, Tucker Carlson, Murdoch's, Jerry Hall, Patricia Booker, Prudence, Anna Torv, James, Elisabeth, Wendi Deng, Grace, Chloe, Ann Lesley Smith Organizations: Premier League football club Chelsea, Fox News, News Corp, Street Journal, Fox News Channel, Fox, ABC, CBS, NBC, New York Post, HBO, Forbes Locations: Russian, Australia, United States, Britain, London, U.S, Scottish, Chinese

☆ Billionaire Investor Mark Cuban: There's nothing unique about the big three PBMs
▼ + stars: | 2024-03-04 | 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 EmailBillionaire Investor Mark Cuban: There's nothing unique about the big three PBMsCNBC's Morgan Brennan sits down with billionaire investor and businessman Mark Cuban to discuss his prescription drug startup Cost+ and his participation in a White House roundtable focused on the cost of healthcare.

Persons: Mark, CNBC's Morgan Brennan, Mark Cuban

☆ Big Labor Gamble: Push to Unionize Every U.S. Auto Plant
▼ + stars: | 2024-03-02 | by ( Noam Scheiber | ) www.nytimes.com time to read: +1 min

When Shawn Fain, the United Automobile Workers president, unveiled the deal that ended six weeks of strikes at Ford Motor in the fall, he framed it as part of a longer campaign. “One of our biggest goals coming out of this historic contract victory is to organize like we’ve never organized before,” he said at the time. “When we return to the bargaining table in 2028, it won’t just be with the Big Three. It will be the Big Five or Big Six.”Four months later, the first test of that strategy has come into focus, and it features a Volkswagen plant in Chattanooga, Tenn. According to the union, more than half of over 4,000 eligible workers have signed cards indicating support for a union.

Persons: Shawn Fain, ”, Stellantis Organizations: United Automobile Workers, Ford Motor, Workers, Ford, General Motors Locations: Chattanooga , Tenn

☆ 2024 Formula One season: How to watch the Bahrain Grand Prix and the biggest storylines to look out for this year
▼ + stars: | 2024-02-29 | by ( Samuel Joseph | Sam Joseph | ) edition.cnn.com time to read: +11 min

The 2024 campaign will be the longest F1 season in history, featuring 24 race weekends. How to watch the season opener in BahrainThe 2024 season starts with the Bahrain Grand Prix after three days of testing in the Middle Eastern nation last week. Red Bull’s 2023 F1 season was the most dominant of all time. He was eventually cleared of any wrongdoing by the investigation, the team’s parent company, Red Bull GMBH, announced on Wednesday. Albon has bounced back from a disappointing spell at Red Bull in 2020 and is now a highly-sought after driver.

Persons: Max Verstappen, Lewis Hamilton’s, Hamilton, “ It’s, ” Hamilton, Mercedes, Will Buxton, Carlos Sainz, “, Hamad I Mohammed, Bull, Red Bull, Mercedes ’, George Russell, Verstappen, Max, hasn’t, he’s, Lawrence Barretto, ” Verstappen, Clive Rose, we’ve, Christian Horner, Horner, “ I’m, ” Horner, Ferrari, Russell, Charles Leclerc, Alex Albon, Williams, Lando Norris, Oscar Piastri, Fernando Alonso, Aston Martin, Kimi Antonelli, Sainz, Carla Carniel, Sergio Pérez, Daniel Ricciardo –, Red Bull’s, –, Aston, Haas, Albon, James Vowles, Mark Thompson, McLaren, Piastri, Norris, Dan Istitene, Alonso, Lance, Lawrence, Patrick Mahomes, Travis Kelce –, Pierre Gasly, Esteban Ocon Organizations: CNN, Bahrain, Circuit, Red Bull Racing, Prix, ESPN, Qualifying, Saudi, Mercedes, Ferrari, PETRONAS F1 Team, Scuderia Ferrari, Arrows, Reuters, Constructors, CNN Sport, Red Bull GMBH, Sky Sports, “, McLaren, Silver Arrows, Bulls, Sauber, Team, Red Bull, Getty, Aston Martin’s, Kansas City Chiefs Locations: Bahrain, British, Jeddah, Saudi Arabia, Abu Dhabi, Red, Aston Martin, Thai, –

☆ A look into Michigan’s economic prospects as automotive jobs see a decline
▼ + stars: | 2024-02-27 | by ( Chris Isidore | Tami Luhby | ) edition.cnn.com time to read: +11 min

Jobs in the state’s auto plants, parts factories and corporate offices shrank by 35% since 1990, according to figures from the Bureau of Labor Statistics. And those jobs make up only 3.7% of the jobs in the state, roughly half what it was in 1990. Some of the auto jobs disappeared because of automation. “But it is still the cornerstone of the Southeast Michigan economy. The categories understate the importance.”But other segments of the Michigan economy now rival autos.

Persons: –, Stellantis, Jeff Kowalsky, Patrick Anderson, “ I’m, ” Anderson, Brian Peters, Peters, ” Peters, Anderson, Bill Pugliano, Gretchen Whitmer, Whitmer, there’s, ”, Monique Stanton, Stanton, ” Stanton, Matthew Hatcher, Donald Trump, Joe Biden Organizations: New, New York CNN, Republican, Democratic, Bureau of Labor Statistics, Motors, Ford, Fiat Chrysler —, GM, Fiat Chrysler, Getty, Anderson Economic Group, Michigan Center for Data, Michigan Health & Hospital Association, Health, Big, Chrysler, United Auto Workers, General Motors, North, Gov, Census, ICE, Michigan, Michigan League, Public, Missouri Economic Research, Information, Fox News, Democrats, Shoppers, Bloomberg, Washington Post, Monmouth University Locations: New York, Michigan, Mexico, Southern, Edmunds, Dearborn , Michigan, AFP, Southeast Michigan, Lansing , Michigan, North America, Marshall , Michigan, Florida, Texas, Illinois, California, Living, Somerset, Troy , Michigan

☆ A Wrecking Ball From China Is Heading Toward the Big 3 Automakers - The New York Times
▼ + stars: | 2024-02-27 | by ( Robinson Meyer | ) www.nytimes.com time to read: +1 min

Over the past few months, America’s Big Three automakers — Ford, General Motors and Stellantis, the oddly named company that owns Dodge, Chrysler and Jeep — landed in big trouble. Ford, General Motors and Stellantis made billions in profit last year, even after a lengthy strike by autoworkers, and all three companies are forecasting a big 2024. The biggest threat to the Big Three comes from a new crop of Chinese automakers, especially BYD, which specialize in producing plug-in hybrid and fully electric vehicles. BYD’s growth is astounding: It sold three million electrified vehicles last year, more than any other company, and it now has enough production capacity in China to manufacture four million cars a year. A deluge of electric vehicles is coming.

Persons: —, Stellantis, autoworkers, America Organizations: — Ford, General Motors, Dodge, Chrysler Locations: U.S, China, Brazil, Thailand, Hungary, Uzbekistan, Indonesia, Mexico

☆ Disney and ex-CFO trade barbs in board fight. Plus, what we expect from 2 portfolio earnings
▼ + stars: | 2024-02-27 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. 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. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Jay Rasulo, Nelson Peltz, Rasulo, Peltz, Ike Perlmutter, Peltz's Trian, Perlmutter, Clawing, Estee Lauder, Foot Locker, Health —, Jeff Marks, Jim, Jim Cramer's Organizations: CNBC, Federal, Dow Jones, Nasdaq, Dow, Energy, Linde, Disney, Saturday's Club, Marvel Entertainment, Peltz's Trian Partners, Palo Alto Networks, Palo Alto, Health, Virgin Galactic, TJX Companies, Marshalls, Club, Jim Cramer's Charitable Locations: Gaza, Maxx

☆ Major airlines raised fees for checked bags. Here are 7 ways to cut costs
▼ + stars: | 2024-02-26 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Brandon Bell | Getty Images News | Getty ImagesChecked bag fees represent big revenueA checked bag is one stored in a plane's cargo hold during a flight. While that service was free in years past, it's now standard for major airlines to charge for checked bags. By late 2023, it was about double for many carriers: $30 to $35 for one checked bag, Nastro said. Fly with certain airlinesDaniel Garrido | Moment | Getty ImagesThere are a few airlines that still don't charge for a checked bag. Those who wait to pay until arriving at the gate, for example, would pay $99 for a checked bag or carry-on, the chart indicates.

Persons: Brandon Bell, it's, Nastro, Eric Napoli, Daniel Garrido, Emirates —, Aiden Higgins, Higgins, Vondruska, Napoli Organizations: Getty, U.S, Bureau, Transportation, Airlines — Qatar Airways, Etihad Airways, Emirates, Air, Napoli, Spirit Airlines Locations: U.S, New York, Los Angeles

☆ Ford, UAW reach local labor deal to avert strike at Kentucky plant
▼ + stars: | 2024-02-21 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +1 min

Ford Super Duty trucks are seen at the Kentucky Truck assembly plant in Louisville, Kentucky, U.S., April 27, 2023. Ford and a United Auto Workers local union reached a tentative deal on Wednesday to avert a strike at the automaker's most profitable plant. The UAW had threatened that nearly 9,000 workers at Ford's Kentucky truck plant would strike on Friday if local union demands were not resolved. The UAW said Tuesday the deal addresses local issues related to skilled trades, ergonomics and health and safety. Workers at the plant produce Ford Super Duty pickups as well as Ford Expeditions and Lincoln Navigator SUVs.

Persons: Ford, —, — CNBC's Michael Wayland Organizations: Ford Super Duty, United Auto Workers, UAW, Workers, Ford, Ford Expeditions, Lincoln, Big Three, — Ford, General Motors, Local Locations: Kentucky, Louisville , Kentucky, U.S, Ford's Kentucky, Louisville

☆ 'Super savers' are using a simple 2-pronged approach to save more than half their paycheck and achieve financial independence
▼ + stars: | 2024-02-18 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

Business Insider has spoken to dozens of “super savers” who are setting aside more than half of their paychecks — and they make it sound relatively easy. The couple says they save 100% of their 9-to-5 income , thanks to a low cost of living and various revenue streams. That’s what early retirees Lauren and Steven Keys experienced . Lauren and Steven Keys quit full-time work in their 20s. Their side hustle income more than sustains their lifestyle, meaning they can save 100% of their day job income.

Persons: It’s, doesn't, Josh Lupo, Ali, Josh, Lauren, Steven Keys, Steven, ”, Avery Heilbron, you'll Organizations: Business Locations: San Francisco, hustles

☆ Trump heads to Michigan with eyes on a Biden rematch but legal woes loom over campaign
▼ + stars: | 2024-02-17 | by ( Steve Contorno | Kristen Holmes | ) edition.cnn.com time to read: +8 min

A 2020 election denier’s tumultuous reign atop the Michigan Republican Party had only recently begun. Since then, the strike has ended and the top union representing Michigan autoworkers, United Auto Workers, has endorsed President Joe Biden. State party turmoilAhead of his visit, Trump and his allies sought to put an end to turmoil within the Michigan Republican Party, which has faced a reckoning over its readiness for the 2024 election. The state party ousted its chair, Kristina Karamo, last month in the face of internal strife and lackluster fundraising. The recent Fox News survey from Michigan found Biden leading Trump 53% to 41% among union households.

Persons: Donald Trump, Trump, Joe Biden, Nikki Haley –, Stormy Daniels, Friday’s, “, Biden, Hillary Clinton’s, Haley, Kristina Karamo, Pete Hoekstra, Hoekstra, Democratic Sen, Debbie Stabenow, ”, Jason Cabel Roe, it’s, – Trump, Trump’s, Shawn Fain, ” Trump, Fain, ” Fain, Cabel Roe, “ There’s Organizations: CNN, Michigan, Republican, GOP, Michigan Republican Party, Michigan autoworkers, United Auto Workers, Republicans, South Carolina Gov, Michigan GOP, Trump, Fox, Sneaker Con, South Carolina Army National Guard, Republican National, White House, Democratic, doesn’t, Republican Party, Biden, Big, Teamsters, UAW Locations: California, Michigan, New, York, ”, Georgia, Waterford Township, Detroit, Waterford, Trump’s Michigan, –, Philadelphia, South Carolina, State, Netherlands, Washington ,, Wisconsin, Pennsylvania

☆ Target launches a new dollar-store-style budget brand
▼ + stars: | 2024-02-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Read previewTarget has launched a new budget brand that will offer shoppers low-cost clothes, electronics, beauty products, and home items. Target said on Thursday that the brand, Dealworthy, will feature nearly 400 "everyday basics," with most items under $10 and some costing less than $1. Target will also sell Dealworthy electronics, including phone cases and power cords, as well as kitchen and home items like paper plates, paper towels, and food containers. AdvertisementThe Dealworthy range will include low-cost electronics, including phone cases. Target"With Dealworthy, Target is offering more options at lower prices, starting at less than $1, while strengthening its portfolio of owned brands," the retailer said in a press release.

Persons: —, Brian Cornell, Rick Gomez, Axios Organizations: Service, Business, Aldi, Executives, Target

☆ Tesla workers still make less than those at Ford and GM, despite recent raises
▼ + stars: | 2024-02-09 | by ( Nora Naughton | Grace Kay | ) www.businessinsider.com time to read: +5 min

Even with a raise, Tesla workers don't make as much as union-represented workers. AdvertisementTesla recently gave some of its factory workers raises, but union-represented workers at Detroit’s Big Three will still make a lot more per hour. According to internal documents reviewed by Business Insider, new pay guidelines for Tesla workers were implemented on January 8. Why some Tesla workers aren’t focused on UAW payDespite the pay discrepancy, some Tesla workers previously told BI they’d be hesitant to join a union. But the German union IG Metall said last year that some Tesla workers at the company's Brandenburg plant had joined its union.

Persons: —, Tesla, Stellantis, aren’t, Elon, “ It’s, Musk, Metall Organizations: unionizing, UAW, NEW, Service, Business, United Auto Workers, Ford, GM, EV, National Labor Relations Board, NLRB Locations: Buffalo , New York, rehire, company's Brandenburg

The settlement is likely to benefit as many as 500,000 residents whether they have insurance or not, and it covers all Lilly brand-name insulin products, Ellison said at a news conference. Litigation remains pending against two other manufacturers named in the 2018 lawsuit, Sanofi-Aventis and Novo Nordisk. The American Diabetes Association says more than 8 million Americans use insulin, which the body needs to convert food into energy. President Joe Biden's 2022 Inflation Reduction Act capped out-of-pocket costs of insulin to people on Medicare to $35 a month, but only for seniors. Novo Nordisk last year also announced plans for insulin price cuts starting this year.

Persons: Eli Lilly, Lilly, Keith Ellison, Ellison, ” Ellison, Joe Biden's, Alec Smith, Nicole Smith, Holt, ” Organizations: PAUL, —, Sanofi, Aventis, Novo Nordisk, American Diabetes Association, York, Medicare Locations: — Minnesota, Minnesota, California , Illinois, Arizona, Utah

☆ How to reduce — or avoid — airline fees for checked bags
▼ + stars: | 2024-02-06 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

A checked bag is one stored in a plane's cargo hold during a flight. While that service was free in years past, it's now standard for major airlines to charge for checked bags, experts said. Today, it's about double: $30 to $35 for one checked bag, Nastro said. The carrier allows two free checked bags. Buy a luggage scale, lightweight bagsBuying and using a luggage scale before traveling can help travelers avoid surprise fees at the airport due to exceeding a weight limit on checked bags.

Persons: it's, Katy Nastro, Nastro, Eric Napoli, Daniel Garrido, Emirates —, Aiden Higgins, Higgins, Napoli Organizations: Major U.S, Bureau, Transportation, Finance, Airlines — Qatar Airways, Etihad Airways, Emirates, Air, Napoli, Spirit Airlines Locations: Major, U.S, New York, Los Angeles

Most details of the Democratic governor's budget plan for the 2024-25 fiscal year, which starts July 1, remain under wraps. But Shapiro has made it clear he will seek more money for higher education and public transit agencies and possibly underfunded public schools. He also wants to spend more money to attract major companies and seems ready to revisit the controversial item that helped sow a protracted budget fight last year: creating a new private school voucher program. Here’s what to watch for Tuesday:THE BUDGET BASICSShapiro will almost certainly propose an operating budget that spends above this year’s $45 billion approved plan. Those include nearly $300 million more for public transit agencies, a roughly 25% increase, and a substantial, but undisclosed, increase for state-owned universities.

Persons: Josh Shapiro, Shapiro, he's, ” Shapiro, hasn't, Pennsylvania's, Marc Levy Organizations: —, Democratic, Senate, Rotunda . Governors, Republican, Republicans Locations: HARRISBURG, Pa, Pennsylvania, , Pennsylvania, www.twitter.com

☆ Australian Open: Jannik Sinner faces Danlil Medvedev in the men’s final
▼ + stars: | 2024-01-27 | by ( Matias Grez | ) edition.cnn.com time to read: +3 min

Sinner ended defending champion Novak Djokovic’s 33-match winning streak at the Australian Open, a run stretching back to 2018, to reach his maiden grand slam final, where he will face Russia’s Daniil Medvedev on Sunday. It was put to Sinner after his semifinal win that he, Alcaraz and Holger Rune seem to be having more success than the generation before them. Medvedev is bidding to win his second grand slam title. David Gray/AFP/Getty ImagesThis is the 27-year-old’s third Australian Open final after losing to Djokovic in 2021 and Nadal in 2022, but Medvedev is now much more assured in his game, highlighted by his stunning semifinal comeback over Alexander Zverev. But it is what it is, and I’m proud and looking forward to the final to give my 100% again.”

Persons: Roger Federer, Rafael Nadal, Novak Djokovic, Carlos Alcaraz, Novak Djokovic’s, Russia’s Daniil Medvedev, Alcaraz, Holger Rune, ” Sinner, Rafa, Nadal, Roger, ” Medvedev, Medvedev, David Gray, Alexander Zverev, I’m, ” Organizations: CNN, Sunday, Djokovic, Medvedev Locations: Adelaide, Russian, AFP, Melbourne

MELBOURNE, Australia (AP) — A solitary loss in 11 semifinals at the Australian Open was nowhere near enough for Novak Djokovic to contemplate a generational change in tennis. Djokovic didn't get a look at a breakpoint during a 6-1, 6-2, 6-7 (6), 6-3 loss to Jannik Sinner on Friday that ended the 10-time Australian Open champion's unbeaten streak after making the final four at Melbourne Park. “This tournament hasn’t been up to my standard or criteria or the level that I would normally play or expect myself to play,” Djokovic said, "but doesn’t necessarily mean that it’s beginning of the end, you know, as some people like to call it. But no man has won more Grand Slam titles than Djokovic, who lifted his record to 24 with three titles last year when he went 27-1 in the majors tournaments. Stan Wawrinka’s title here a decade ago was the only Australian title that one of the Big Three didn’t win since Marat Safin beat Lleyton Hewitt in the 2005 final.

Persons: Novak Djokovic, Djokovic didn't, ” Djokovic, “, Djokovic, “ It’s, Rafael Nadal, Roger Federer, Stan Wawrinka’s, Marat Safin, Lleyton Hewitt, Sinner, Daniil Medvedev, Alexander Zverev, Federer, Nadal, he’s, ” Organizations: Australian, Melbourne, Djokovic, Slams Locations: MELBOURNE, Australia

☆ Streaming music is a brutal business. Just ask Spotify.
▼ + stars: | 2024-01-19 | by ( Peter Kafka | ) www.businessinsider.com time to read: +4 min

But streaming music is a really, really hard business to make money in. That's why Spotify has spent so much time and money trying to do things beyond streaming music. These are some of the ventures Spotify has bet on to expand beyond its core business — selling streaming music subscriptions. But the main takeaway you ought to get from reading about Spotify's attempt to do something beyond selling music subscriptions is this one: Spotify really, really wants to do stuff beyond selling music subscriptions. AdvertisementBecause just selling music subscriptions is a really hard business.

Persons: —, they're Organizations: Spotify, Service, Comedy Central, ESPN, Netflix, Microsoft, Apple, Google, Sony, Warner, Merlin

☆ Davos: A mountain of debt and a wave of elections. World leaders are hamstrung
▼ + stars: | 2024-01-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —World leaders are flocking to Davos this week to pontificate on the planet’s most pressing problems. Even in the absence of a new crisis, soaring debt servicing costs will constrain efforts to tackle climate change and care for aging populations. Mortgage rates and other borrowing costs soared as investors demanded much higher premiums for owning UK debt. Mounting debt and political brinksmanship have already taken their toll on America’s credit rating, which typically affects borrowing costs for the government, businesses and households. And that would increase the government’s borrowing costs.

Persons: worryingly, Michael Saunders, ”, Saunders, that’s, Liz Truss, Dave Ramsden, Fitch, Moody’s, Raghuram Rajan, “ It’s, ” Rajan, Anna Cooban Organizations: London CNN —, Bank, CNN, Oxford Economics, Bank of England, AAA, States ’, Reserve Bank of India, Labour Party, Treasury Department, Federal, University of Chicago Booth School of Business Locations: Davos, Kingdom, Argentina, States, United States, Switzerland

Shares of Tesla closed down more than 3% Friday as the stock faced pressure from supply chain delays due to a crisis in the Red Sea, and after offering more price cuts on its vehicles in China. The Iranian-backed Houthi militia group has been attacking cargo ships and merchant vessels in the Red Sea in response to the ongoing war in the Gaza Strip. The Baird analysts wrote that they are "wary" of further effects to Tesla's supply chain, and they are "closely monitoring" any effect on the company's shipping routes from China. "No delays have been cited, however, we speculate that disruptions in the Red Sea may lead to longer wait times as supply chains are rerouted," they wrote. Analysts were also focused on Tesla's continuing price cuts including new discounts in China.

Persons: Tesla, Baird, Morgan Stanley, Price, Hertz, Stephen Scherr, Scherr, unionize Organizations: Tesla, Hertz, Reuters, Baird, United Auto Workers, UAW, Toyota Locations: Red, China, U.S, Berlin, Grunheide, Germany, Jan, Gaza, Europe, Sweden, Scandinavia, Detroit

☆ Biden to head to Michigan and Nevada to ramp up outreach to key base voters
▼ + stars: | 2024-01-10 | by ( Mike Memoli | ) www.cnbc.com time to read: +5 min

US President Biden arrives to board Air Force One at Joint Base Andrews in Maryland on December 20, 2023, as he departs for Milwaukee, Wisconsin. Biden could be courting Latino voters in Nevada while simultaneously negotiating a border funding bill that includes stricter immigration policies that are opposed by Hispanic leaders. The Biden campaign has argued that as important as immigration is, public polling and its own research show the economy as the top concern of Latino voters. In 2020, Biden carried both Nevada and Michigan, but by less than 3 percentage points. Only Pennsylvania, Wisconsin, Arizona and Georgia were closer among states Biden carried.

Persons: Biden, Joe Biden's, It's, Joe Biden, Quentin Fulks, Biden's, Fulks, Donald Trump's, we'll, Kamala Harris, Harris, — Organizations: Air Force, Joint Base Andrews, Democratic, Israel, Culinary Workers, United Auto Workers, Big Three, UAW Locations: Maryland, Milwaukee , Wisconsin, South Carolina, Nevada and Michigan, Iowa, New Hampshire, Nevada, Michigan, surrogates, Carolina, South Carolina . Michigan, Atlanta, Mandalay Bay, Pennsylvania, Wisconsin, Arizona, Georgia

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