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Seconds after that brief communication, the Titan was “pinged” for the last time, according to the opening presentation of the two-week hearing. Days later, authorities found its wreckage on the floor of the North Atlantic Ocean, several hundred yards from the remains of the Titanic, according to the Marine Board of Investigation, which is the highest level of inquiry by the Coast Guard. Lochridge testified he was supposed to pilot the submersible and objected when Rush decided he wanted to pilot the vessel. Rush made multiple errors during the dive, Lochridge said, including ignoring issues with the current and keeping his distance from the wreck. “It just didn’t seem to me that it had been particularly well-thought-out or executed,” he said of the submersible.

Persons: –, ” Peter Girguis, “, OceanGate, Shahzada Dawood, Suleman Dawood, Hamish Harding, Paul, Henri Nargeolet, ” Chris Roman, it’s, ”, David Lochridge, ” Lochridge, Lochridge, Rush, “ That’s, ” OceanGate, ‘ Don’t, ’ ”, Alfred McLaren, McLaren, Nargeolet, ” Girguis, David Marquet, ’, “ I’m, Renata Rojas, debriefings, Rojas, ” Rojas, Andrea Doria, “ We’re, we’re, you’re, Rojas “, David Lochridge’s, Stockton, CNN Steven Ross, ” Ross, Ross, could’ve, Scott Griffith, Griffith, Patrick Lahey, Fred Hagen, ” Hagen, ” CNN’s Dakin Andone, Alaa Elassar, Cindy Von Quednow Organizations: CNN, Titan, US Coast Guard, Harvard University, Stockton Rush, Marine Board of Investigation, University of Rhode Island’s, School of Oceanography, Coast Guard, Authorities, OceanGate, Guard, National Transportation Safety, US Navy, ”, PlayStation, Rush, Triton, Harvard Locations: Washington, Newfoundland, Canada, Rush, OceanGate, Stockton, Bahamas

☆ Here are Cases of Trump Rivals Who Were Subject to Investigation
▼ + stars: | 2024-09-21 | by ( Michael S. Schmidt | Matthew Cullen | ) www.nytimes.com time to read: +20 min

After Mr. Trump fired Mr. Comey, Mr. McCabe opened a two-pronged investigation into whether Mr. Trump was a counterintelligence threat and was obstructing justice. Mr. Trump said he wanted to “get the I.R.S.” on Mr. McCabe and for him to be fired. Working with Mr. McCabe, Mr. Strzok opened the two-pronged investigation into whether Mr. Trump was a counterintelligence threat and was obstructing justice. What Trump wanted doneMr. Trump called Mr. Strzok a traitor and said he should be criminally investigated for his handling of the Russia investigation. What news organizations did that Trump did not likeJournalists from all three organizations covered the Trump presidency and the Russia investigation aggressively and used material that Mr. Trump felt had been leaked to hurt him.

Persons: Donald J, Trump, Marco Rubio, James B, Hillary Clinton, Robert S, Mueller III, James Comey, Comey, Clinton, Mr, “, Andrew G, McCabe, F.B.I, Comey’s, ”, Prosecutors, McCabe’s, Jeff Sessions, —, Peter Strzok, Strzok, Michael T, Flynn, Flynn’s, John F, Kerry Obama's, Kerry, Barack Obama, William P, Barr, Hilary Clinton, Sessions, Trump’s, John Durham, Michael D, Cohen Trump's, fixer, Cohen, Michael Cohen, Witch Hunt, John R, Bolton, Biden, John Bolton, Hillary, pardoning, subpoenaing Mr, White, Omarosa Manigault Newman, Manigault Newman, lowlife, ” Donald J, Stephanie Winston Wolkoff, Melania Trump, Wolkoff Organizations: Trump Rivals, America, Republican, CNN, Justice Department, Department, Trump, Mr, White, Federal, Biden Justice Department, Publicly, Prosecutors, Justice, U.S, Trump Justice Department, Clinton Foundation, FBI, DNC, of Prisons, News, Washington Post, The New York Times, Fake News, Bolton, White House, House Locations: Florida, Russia, Washington, Virginia, Clinton, Iran, Manhattan, New York, Maryland

☆ Simone Biles leads star-studded cast of US gymnasts headlining ‘victory lap’ Gold Over America Tour
▼ + stars: | 2024-09-21 | by ( Coy Wire | ) edition.cnn.com time to read: +3 min

Biles said in a press release that she is “so excited” and described the tour as “a victory lap around the US.”“It’s more of a celebration tour,” Biles told CNN’s Coy Wire ahead of the tour’s upcoming fourth show in San Jose on Saturday. Biles and co. visited Los Angeles on Friday, with the next leg of the tour scheduled to take place in San Jose on Saturday. This is the second Gold Over America Tour that Biles has led. The tour has been referred to by its acronym “GOAT,” more than likely a nod to Biles’ legendary standing in professional gymnastics. Part of warmup for a recent involved a spot of “goat yoga,” which saw Biles and Chiles balance a live goat on their backs.

Persons: Simone Biles, Biles, ” Biles, CNN’s Coy Wire, “, Jordan Chiles, Naomi Baker, Diana Taurasi, Brittney, Jordan Chiles –, Paris Olympics – Jade Carey, Hezly Rivera, Joscelyn Roberson, ” Chiles, CNN’s, ” Paul Juda, Brody Malone, Frederick Richard, Richard, Peter Cziborra, Reuters Canada’s Peng, Peng Lee, Ellie Black, Mélanie, Jesus dos Santos, Casimir Schmidt, Chiles Organizations: CNN, America Tour, America, Phoenix Mercury, Saturday, Paris Olympics, Reuters Locations: United States, San Jose, Paris, Oceanside , California, Phoenix, Los Angeles, Denver, Chicago, Houston, Atlanta, Orlando, Detroit, Netherlands

Another co-defendant named Ryan Samsel — who was holding a giant flag portraying Trump as "Rambo" before he assaulted officers on Jan. 6 — will be sentenced on Feb. 4, 2025. Stephen Chase Randolph on Jan. 6. Among them: David Dempsey, who repeatedly assaulted officers inside the lower west tunnel to the Capitol, received 20 years; Peter Schwartz, received 14 years; Danny "D.J." Capitol Police Officer Caroline Edwards testifies during a Jan. 6 Committee hearing. After his arrest, federal authorities said Randolph downplayed his behavior and lied during his custodial interview with the FBI.

Persons: WASHINGTON, Donald Trump, Stephen Chase Randolph, Randolph's, James Tate Grant, Jason Benjamin Blythe, Paul Russell Johnson, Ryan Samsel —, Trump, Rambo, Jan, Randolph, David Dempsey, Peter Schwartz, Danny, D.J, Rodriguez, Michael Fanone, Christopher Quaglin, Thomas Webster, Blythe, Johnson, Samsel, Caroline Edwards, Edwards, banister, ” Edwards, “, Win McNamee, ” Randolph, Joe Biden, yay, It’s, ”, Ronald Reagan, Royce Lamberth Organizations: Capitol, Capitol Police, U.S, District of Columbia, New York City Police, FBI, District Locations: Kentucky, Grant, Washington, Washington ,

First lady Jill Biden emphasized in an interview with NBC News that "we have to have a peaceful transfer of power," urging Americans to "come together" amid deep political divisions. "As Americans, you know, that’s a right that we’ve been given, and I think we have to take advantage of that, and then we have to have a peaceful transfer of power." The interview came during a tour of "The People's House," a new White House interactive exhibit. Jill Biden helped spearhead the exhibit, along with the White House Historical Association. The broadcast of the tour will air on "Saturday TODAY.”"It’s just what an educator wants," said Biden, who is a college educator.

Persons: Jill Biden, that’s, we’ve, Donald Trump, Trump, Biden, Joe, he’s Organizations: NBC, U.S, Capitol, White, Historical Association

☆ Cutting interest rates in China is irrelevant for its economy right now: Peter Boockvar
▼ + stars: | 2024-09-20 | 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 EmailCutting interest rates in China is irrelevant for its economy right now: Peter BoockvarPeter Boockvar of Bleakley Financial says China needs time to work through the problems facing its economy, and with market sentiment being so bearish, it is time to start looking for positive catalysts.

Persons: Peter Boockvar Peter Boockvar Organizations: Bleakley Financial Locations: China

☆ China-Mexico freight traffic surges in Trump, Biden tariff era, as companies find ways to evade U.S. trade war
▼ + stars: | 2024-09-20 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +16 min

Patrick T. Fallon | AFP | Getty ImagesNew data shows a surge in trade between China and Mexico at a time of tough tariff talk during the presidential campaign. This nearshoring of manufacturing enables companies to change a product's origin of goods, also referred to as the "economic nationality" of a product. Data from freight analytics firm Xeneta shows China to Mexico container trade up by 26.2% from January to July 2024, after growing by 33% in 2023. Mexico is also a member of the Pacific Alliance, a trade bloc formed by Mexico, Chile, Colombia, and Peru. "Bilateral tariffs should be expected to lead to trade diversion, and that's exactly what happened in the aftermath of the trade war.

Persons: Patrick T, Fallon, Jordan Dethwart, Mary Lovely, Anthony Solomon, Simon Cohen, Peter Sand, Donald Trump, Trump, John Piatek, Biden, Piatek, Lovely, Moody's, Elon Musk, Musk, Tesla, Sand, Charles Van der Steene, Van der, Mexico —, Freightos, Erica York, York, Tim Robertson, Ian Arroyo, Arroyo, Saul Loeb Organizations: El, El Paso Sector, AFP, Getty, U.S, Companies, Peterson Institute for International Economics, Henco Logistics, European Union, European Free Trade Area, Pacific Partnership, Pacific Alliance, GEP, Motive, BMW, Ford, GM, Kia, gigafactory, Volvo, Pirelli, Michelin North America, Hyundai, SFK USA, Maersk, Bureau of Transportation Statistics, CNBC, United, Pacific, Port, U.S ., ITS Logistics, Tax, DHL Global, Dana, Afp Locations: El Paso, Mexico, New Mexico, Chihuahua, Sunland Park , New Mexico, China, Redwood Mexico, United States, Canada, U.S, Japan, Israel, Latin America, Chile, Colombia, Peru, USA, propping, Laredo , Texas, El Paso , Houston, San Diego, Monterrey, Fremont , California, Austin , Texas, Americas, Mexican, Monterrey . Mexico, East, lading, Maersk North America, Tijuana, El Paso , Texas, Pacific Coast Port, Lazaro, Laredo, Monterrey , California, U.S . West, U.S . East, Gulf, West Coast, Asia, Mexico City, Warren , Michigan

☆ Nike's new CEO was an intern at the brand in 1988. He's now in charge of saving one of the biggest sports apparel legacies in the world.
▼ + stars: | 2024-09-20 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +5 min

Read previewNike's incoming CEO is an old face in the company, having worked his way up the ranks from intern to C-Suite exec. He's set to take over Nike's outgoing CEO, John Donahoe, who has led the company since 2020. This story is available exclusively to Business Insider subscribers. According to Hill's biography, which Nike shared with BI, he started in the company as an apparel sales representative intern in 1988. AdvertisementNike representatives did not respond to a request for comment from Business Insider sent outside business hours.

Persons: —, Elliott Hill, He's, John Donahoe, Hill's, Hill, I'm, I've, Tom Peddie, Peddie, Locker, David Daniels, Daniels, Peter Cappelli, Cappelli, Elliot Hill, he's, Justin Sullivan, Jim Duffy, BI's Lloyd Lee, Duffy, they've, Ursula Burns, Burns Organizations: Service, Business, Nike, BI, NIKE, — Consumer, National University of Singapore, Wharton School, University of Pennsylvania, Stifel, Xerox, Columbia University, Business Insider

☆ Scientists store entire human genome on ‘memory crystal’ that could survive billions of years
▼ + stars: | 2024-09-20 | by ( Rosa Rahimi | ) edition.cnn.com time to read: +3 min

London CNN —Scientists in the United Kingdom have stored the entire human genome on a “5D memory crystal,” in the hope that it could be used in the future as a blueprint to bring humanity back from extinction. The crystal is stored in the Memory of Mankind archive in Hallstatt, Austria. “The visual key inscribed on the crystal gives the finder knowledge of what data is stored inside and how it could be used,” said Kazansky. In 2018, Kazansky and his team used the memory crystal technology to store Isaac Asimov’s “Foundation” trilogy of science fiction books, which were then launched into space aboard a Tesla Roadster. The technology has also been used to store major documents from human history, including the Universal Declaration of Human Rights and the Magna Carta.

Persons: ”, Peter Kazansky, optoelectronics, “, Thomas Heinis, Kazansky, Isaac Asimov’s “ Organizations: London CNN —, University of Southampton’s, Research, University of Southampton, Guinness, Southampton, Imperial College London, Tesla, Human Rights, Magna Carta Locations: London, United Kingdom, Austria

☆ 'I agonized over it': Behind the scenes with the reporter who uncovered the RFK Jr./Olivia Nuzzi story
▼ + stars: | 2024-09-20 | by ( Peter Kafka | ) www.businessinsider.com time to read: +8 min

After you put out your story and New York magazine put out a statement, Nuzzi put out her own statement, which might change the way people perceive the story. And as New York magazine said, I think they're taking this pretty seriously. Since we're having a media business conversation now: I was surprised when you launched that you made this a subscription product. There is lots of media journalism out there that is for free. So this stuff is expensive, and if you want to support good journalism, I think you should pay for it.

Persons: —, Olivia Nuzzi, Robert F, Kennedy Jr, Donald Trump, Nuzzi, Oliver Darcy, Darcy, Olivia, Joe Biden, It's, She's, CNN's Donie O'Sullivan, Tasos Katopodis, it's, I've, there's Organizations: Service, RFK Jr, Business, CNN, Vox Media, New York, RFK, White, York, Getty Images Locations: Olivia Nuzzi , New York, Donald Trump ., York, New York, America

☆ The competitiveness of AI will be both technically and energy-driven, says Peter Huntsman
▼ + stars: | 2024-09-20 | 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 EmailThe competitiveness of AI will be both technically and energy-driven, says Peter HuntsmanPeter Huntsman, Huntsman Corp. CEO and president, joins 'Squawk Box' to discuss what the new incoming EU antitrust chief could mean for Big Tech, importance of energy in the AI competition, and more.

Persons: Peter Huntsman Peter Huntsman Organizations: Huntsman Corp, Big Tech

SPRINGFIELD, Ohio — The dozens of bomb threats and the onslaught of public attention that has befallen a small Ohio city since President Donald Trump and others pushed the false claim that Haitian migrants were stealing and eating pets has children living in fear, worried parents said Thursday. A U.S. flag is displayed on Sept. 16, 2024 in Springfield, Ohio. Luke Sharrett / Getty Images“I really feel bad for the Haitian children, because they’re here for an education,” Moore said. That’s not right, that my daughter has to be fearful,” Springfield parent Martin McWhorter said. “Why are you messing with my baby?”McWhorter said his daughter’s school was a target of the bomb threats and lamented that what had been a small, peaceful city now doesn’t feel safe.

Persons: Donald Trump, “ They’re, ” John Michael Moore, Trump, Kamala Harris, Trump’s, Sen, JD Vance, hasn’t, Luke Sharrett, ” Moore, “, that’s, That’s, ”, Martin McWhorter, ” McWhorter, Melanie Flax Wilt, we’ve, Wilt, Pierre, ” Pierre, Isaac Mackey, Sharice Otieno, couldn’t, ” Otieno, Otieno Organizations: Commission, NBC News, Walmart Locations: SPRINGFIELD , Ohio, Ohio, Springfield, U.S, Springfield , Ohio, ” Springfield, Clark, Haitian, Springfield from Florida, Columbus, Cincinnati, Indiana, Florida

WASHINGTON — As president, Donald Trump slashed a lucrative tax break enjoyed by coastal donors and suburban swing-state voters. What shifted more than the economy is Trump's needs, said Caroline Bruckner, managing director of American University's Kogod Tax Policy Center. The reversal is one of a flurry of freebies that Trump and his rival, Vice President Kamala Harris, are offering voters in the stretch run before Election Day. Trump’s proposal to repeal the SALT cap, which is set to expire next year if Congress takes no action, would reduce federal revenue by $1.2 trillion over a decade, according to CRFB’s estimate. But many voters in those counties would stand to benefit considerably from a repeal of the SALT cap.

Persons: Donald Trump, he's, Trump, ransoming, Caroline Bruckner, Bruckner, Kamala Harris, Peter Zay, Harris, She’s, “, ”, Charlie Dent, ” Dent, ” Donald Trump, Jeff Kowalsky, Marc Goldwein, ” Goldwein, ” Harris, —, Donald Trump won’t, James Singer, Joe Biden’s, I’ve, it’s, Mark Cuban, Jackson, Biden —, Dent Organizations: WASHINGTON, Trump, Getty, Social, Foundation, Social Security, Democratic, CNBC, Tax Foundation, NBC News, Tax Locations: Washington, Anadolu, AFP, South Carolina, Mississippi, Harris, Manhattan, San Francisco, Silicon, Valley , Idaho, Aspen , Colorado, , Wyoming, Westchester County , New York, Fairfield County , Connecticut, Maricopa County, Arizona's, Philadelphia, Wilmington , Delaware, Montgomery, Chester, Delaware, Allegheny County

☆ Feel like GLP-1 weight loss drugs affect your mood? Experts weigh in
▼ + stars: | 2024-09-19 | by ( Madeline Holcombe | ) edition.cnn.com time to read: +9 min

Although originally prescribed to treat type 2 diabetes (Ozempic and Mounjaro), semaglutide and tirzepatide are becoming more and more popular for weight loss. If you are noticing an effect on your mood while using a GLP-1 medication, here’s what might be at play. Antidepressant effectsFor some, using a GLP-1 medication might relieve some anxiety or depression symptoms, Arillotta said. Blood sugarIf you feel like your mood takes a drop while you’re on GLP-1 medications, what and how much you’re eating or drinking might be to blame. “Extremes in blood sugar can impact mood,” said Tara Schmidt, lead dietitian at the Mayo Clinic Diet, an online weight loss program.

Persons: ideation, Thomas Wadden, Davide Arillotta, Arillotta, “, Peter Ueda, Amira Guirguis, ”, Tara Schmidt, ” Schmidt, Guirguis, Giuseppe Floresta, Fabrizio Schifano, ” Guirguis, aren’t, you’ve, Schmidt, “ I’m, Ueda Organizations: Lifeline, CNN, US Food and Drug Administration, Perelman School of Medicine, University of Pennsylvania, FDA, neurosciences, University of Florence, Karolinska Institutet, Diabetes, Swansea University, Mayo Clinic Diet, University of Catania, University of Hertfordshire, American Psychological Association, “ Locations: Italy, Stockholm, Sweden, GLP, Wales, United Kingdom

☆ Mark Zuckerberg's starry watch isn't just the price of a Cybertruck, it's another major step up in his style game
▼ + stars: | 2024-09-19 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

Read previewHere's the latest sign of Mark Zuckerberg's style evolution — a luxury watch depicting the Milky Way. Mark Zuckerberg spotted yesterday during the @AcquiredFM live wearing a DB25 Starry Varius in rose gold from De Bethune. 👀 pic.twitter.com/raZRTyzmAz — ZwapX (@zwapxofficial) September 11, 2024This is not the first premium watch Zuckerberg has been spotted wearing. "His recent style evolution, shown by a love for premium watches and subtle luxury, suggests a shift." To be sure, Zuckerberg's style evolution might have less to do with aesthetics and more to do with an intentional strategy to cultivate a relatable and attractive personal image.

Persons: —, Mark, De Bethune, Bryan Li, Mark Zuckerberg, De, 👀, ove Organizations: Service, De Bethune DB, Business, Swiss Locations: De Bethune, ife

Images of the destroyed pagers showed that they bore stickers from Taiwan-based Gold Apollo, Reuters reported. In a statement, Gold Apollo identified the other company as the Hungary-based BAC. Reached by phone on Wednesday, a spokesperson for Gold Apollo declined to comment further, citing the ongoing investigation. The explosions on Tuesday come amid rising concern that tensions between Israel and Lebanon could spiral into all-out war. Hsu of Gold Apollo said he also felt he had been victimized and was considering filing a lawsuit.

Persons: Hsu Ching, kuang, ” Hsu, ”, “, Mohamed Azakir, Jeanine Hennis, Matthew Miller, Muhammad Mahdi, Ali Ammar, Hsu, Gold Apollo Organizations: Reuters, of Economic Affairs, NBC News, Hamas, . Security, American University of, American University of Beirut Medical Center, U.S . Locations: HONG KONG, Taiwan, Lebanon, Iran, Israel, Europe, New Taipei, Hungary, Beijing, United States, Gaza, Israeli, American University of Beirut, U.S

☆ OpenAI's power players: Meet the 20 leaders helping shape the future of the AI giant
▼ + stars: | 2024-09-18 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +18 min

Last November, the sudden ouster of CEO Sam Altman and the resulting revolt by most of its employees cast doubts on the future of the world's most prominent AI company. While by no means a comprehensive list, below are some of the key power players who are helping to determine OpenAI's future. He took over for his former boss, Jason Kwon, who has since become the company's chief strategy officer. She's also been referred to as OpenAI's "minister of truth" for her efforts to ensure the company's AI products aren't deceptive or biased. ResearchJakub Pachocki, Chief ScientistRelated storiesPachocki joined OpenAI's research in 2017 after completing a PhD in computer science at Carnegie Mellon University.

Persons: —, Sam Altman, OpenAI, Sarah Friar, Friar, Goldman Sachs, She's, Jason Kwon, Kwon, Anna Makanju, Global Affairs Chris Lehane, Che Cheng, OpenAI's, Cheng, Mira Murati, Murati, Kevin Weil, Weil, Instagram, Peter Welinder, Peter Deng, Research Jakub Pachocki, Pachocki, Ilya Sutkever, Ilya, Mark Chen, Chen, Bob McGrew, Sam Altman's, Lilian Weng, Weng, Aleksandr Madry, Barret Zoph, John Schulman, Zoph, Alec Radford, Radford, Zico Kolter, Kolter, Paul Nakasone, Bret Taylor, Taylor, He's, Larry Summers, Fidji Simo, Melinda Gates, Nicole Seligman, Adam D'Angelo, Quora, Altman, D'Angelo, Andrea Appella, Haidee Schwartz, Schwartz, Akin Gump, She'll, Heather Whitney, Whitney, Morrison Foerster, Makanju, Sam, Biden, Chris Lehane, Lehane, Clinton Organizations: Service, OpenAI, Business, Microsoft, Apple, Google, Khosla Ventures, Global, Global Affairs, Amazon, supercomputing, Tesla, Meta, Twitter, ChatGPT Enterprise, Research, Carnegie Mellon University, MIT, Facebook, Security, Machine Learning Department, Carnegie Mellon Carnegie Mellon, Stanford, CMU, Safety, Security Committee, US Army, NSA, US Cyber Command, Defense Department, U.S, Melinda Gates Foundation, Global Competition, Netflix, Century Fox, Competition, Federal Trade Commission, New York Times, Harvard Law School, University of Chicago Law School, NYU, Canada, Global Policy, Public Affairs, House, Newsweek Locations: Europe, Washington, OpenAI, Silicon, Middle East, Asia, London, Chan, Airbnb

☆ YouTube's CEO on hefty creator payouts, election deniers, and the NBA: Q&A
▼ + stars: | 2024-09-18 | by ( Peter Kafka | ) www.businessinsider.com time to read: +11 min

Why do you think that's the case? Have you thought about how you're going to handle people saying that the election was fraudulent? Related storiesIt's not what gets talked a lot about, but that's actually what users experience. But there's going to be people who go, "What happened to so-and-so conspiracy theorist? I'd heard, and I think there's been some reporting out that you guys made an offer for that package.

Persons: We've, Neal Mohan, Mohan, —, Snapchat, they're, we've, They're, it's, Donald Trump, that's, Rudy Giuliani, what's, I've, I'd, there's Organizations: Service, YouTube, Google, CNN, New York Times, Fox News, ABC, Elon Musk, Twitter, NBA, Warriors Locations: India

☆ FanDuel parent Flutter looks for international growth with big acquisitions in Italy, Brazil
▼ + stars: | 2024-09-17 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

FanDuel parent Flutter Entertainment will spend $2.6 billion, or 2.3 billion euros, to acquire Italian gambling company Snaitech from Playtech , adding to a string of deals that aim to boost international growth. Italy is a particularly attractive market for Flutter, as it had about 21 billion euros in gross gaming revenue in 2023. It also acquired Italian lottery and gaming operator Sisal in 2022, and just reported record online market share in Italy in the second quarter. Flutter said Snai had almost 10% market share in Italy last year and nearly 300,000 monthly active users. The new business will be renamed Flutter Brazil, and the deal is expected to close in the second quarter of 2025.

Persons: Snai, Peter Jackson Organizations: New York Stock Exchange, CNBC, NSX Group, Group, MGM Resorts, Grupo Globo, Global Locations: Playtech, Brazil, —, Italy, Massachusetts, U.S

☆ It took Larry Ellison just a single day to make enough money to buy Paramount
▼ + stars: | 2024-09-17 | by ( Peter Kafka | ) www.businessinsider.com time to read: +1 min

Oracle stock is surging because of AI. That means Oracle cofounder Larry Ellison's net worth is surging. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Even though investors are starting to wonder about all the money companies like Google are spending on AI, they are excited about what all that spending means for Oracle's cloud and database revenue.

Persons: Larry Ellison's, Ellison, David ., — Organizations: Paramount, Service, Google

☆ Stock futures are little changed as Wall Street anticipates a long-awaited Fed rate cut: Live updates
▼ + stars: | 2024-09-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

A trader works, as a screen broadcasts a news conference by Federal Reserve Chair Jerome Powell following the Fed rate announcement on the floor of the New York Stock Exchange on June 12, 2024. Stock futures were flat in overnight trading Tuesday as Wall Street anticipated a long-awaited rate cut from the Federal Reserve following an aggressive multiyear hiking campaign aimed at tamping down hot inflation. Futures tied to the Dow Jones Industrial Average added 28 points, while S&P 500 futures hovered near the flatline. Investors remain on high alert ahead of the first expected rate cut from the Fed at the conclusion of its two-day policy meeting Wednesday. CME Group's FedWatch Tool shows traders pricing in a 63% chance of a 50 basis point cut, and 37% odds of a 25 basis point move.

Persons: Jerome Powell, Peter Cecchini, Axonic, CNBC's Organizations: Federal, New York Stock Exchange, Stock, Federal Reserve, Dow Jones, Nasdaq, Dow Jones Industrial, Fed

☆ Commercial property has been in a slump. How lower interest rates could lift it out.
▼ + stars: | 2024-09-17 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +8 min

Read previewUma Moriarity, a senior investment strategist at a real estate investment firm based outside of Philadelphia, is feeling better about deal-making in commercial real estate. A reduction in the Fed's benchmark rate would bring relief to the $22.5 trillion US commercial real estate market, which was shaken by a series of interest rate increases beginning in March 2022. AdvertisementThe increases diminished commercial property values, raised mortgage defaults, and triggered the sector's worst downturn since the financial crisis more than 15 years ago. "We're looking at a very good 2025 and beyond," Mark Rose, the CEO of the real estate services firm Avison Young, said. "Commercial property prices have increased over the past few months as bond yields have declined," Peter Rothemund, the co-head of strategic research at Green Street, said in the firm's recent property pricing report.

Persons: —, Uma Moriarity, Moriarty, Mark Rose, Avison Young, Richard Barkham, We've, Fitch, CMBS, Peter Rothemund, Alan Todd, Todd, CLO Organizations: Service, Federal Reserve, Business, CenterSquare Investment Management, Green, Mortgage, Association, Bank of America, Bank of America Securities Locations: Philadelphia, Trepp

☆ In a first for $21 billion Balyasny, a star PM will start building his own internal equities unit this month
▼ + stars: | 2024-09-17 | by ( Alex Morrell | ) www.businessinsider.com time to read: +7 min

This month, he'll start building a long-short equity division called Longaeva Partners inside Balyasny and exclusively managing the multistrategy hedge fund's capital, according to people familiar with the matter. "He was very coachable and progressed at a much faster rate than a lot of other, newer portfolio managers," Boyle said. "Peter was good at keeping his emotions out of his portfolio," Boyle said. At Balyasny, Goodwin will effectively have his own unit, though he'll be under the flagship Atlas Enhanced umbrella and operate on BAM's platform, including access to its technology, risk management, hiring, and human resources capabilities. The allure of such a setup is more time to spend on investing, which Longaeva will do exclusively with Balyasny money for now.

Persons: —, Peter Goodwin, Dmitry Balyasny's, Jeff Runnfeldt, Gustav Rydbeck, Goodwin, he'll, it's, they've, Point72, Point72 Goodwin, Peter, Korn, Scott Goodwin, Shaw, Perry Boyle, Boyle, delegating, he's Organizations: Service, Management, Business, Longaeva Partners, Millennium Management, Korn Ferry, JPMorgan, Lehman Brothers, Ziff Capital Locations: D.E

☆ The biggest threat to the US dollar is America's exorbitant debt load, JPMorgan says
▼ + stars: | 2024-09-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

One of the main takeaways was that the biggest threats to dollar dominance are swelling US debt levels and fiscal deficits, which officials in Washington could step up to tackle. "The biggest challenge to US dollar dominance is the US itself given the mounting public debt levels and elevated fiscal deficits," JPMorgan said, in a note summarizing the webinar. For instance, many alarmists have focused on the dollar's share in foreign reserve holdings, often pointing out that the foreign central banks have piled into gold as an alternative. But this fixation omits the fact that bank deposits, sovereign wealth fund assets, and other dollar instruments have been on the rise among reserve holdings, JPMorgan said. "In China's case, it has had an explicit target to bring down dollar holdings in FX reserve but has shifted USD holdings to state-owned entities.

Persons: —, Peter G, Mark Sobel —, Trump, Sobel Organizations: JPMorgan, Service, US, Peterson Foundation, Treasury, Monetary, Financial, greenback Locations: Washington, China

The Titan submersible plunged thousands of feet down the forbidding depths of the North Atlantic Ocean in search of the Titanic wreck site when it imploded, killing all five on board. OceanGate came under heavy scrutiny as a result of the disaster — an almost unheard-of occurrence in the submersible industry. But after the Titan didn’t return at its scheduled time, the Polar Prince contacted the Coast Guard. The suit remains ongoing, and a former OceanGate engineering director, Tony Nissen, named as a defendant, is expected to appear Monday at the Coast Guard hearing. “The Titan submersible did not just go down with its inventor — it went down with paying passengers.”

Persons: —, Guillermo Söhnlein, Jason Neubauer, OceanGate, “, voyagers, Polar Prince, Paul, Henri Nargeolet, Hamish Harding, Shahzada Dawood, Suleman, Rush, “ Stockton, I’d, ” Söhnlein, David Lochridge, Lochridge, ” OceanGate, Nargeolet, Tony Nissen, Neubauer, Peter Girguis, there’s, ” Girguis Organizations: Coast Guard, Marine Board, OceanGate, Marine Board of, Department of Justice, Polar, Stockton Rush, Associated Press, Harvard University, Oceanographic Locations: Canada’s, French, North Charleston , South Carolina, Washington, U.S

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