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CNN —Imagine jumping on a train in southwestern China, traveling some 2,000 miles and arriving in Singapore – less than 30 hours later. Southeast Asia is the “obvious” choice because of its “proximity to China,” Bowerman adds. “Beijing, I think, ultimately wants to see Southeast Asian countries within its sphere of geopolitical influence. A staff member waits for passengers to board the Jakarta-Bandung high-speed train during a week-long public trial phase at the Halim station in Jakarta on September 17, 2023. “In the example of a high-speed railway line between Malaysia and Singapore, Singapore would likely have just one stop – Malaysia would have more,” Wong told CNN.
Persons: China’s, Gary Bowerman, ” Bowerman, , Pon Souvannaseng, Peerapon Boonyakiat, Bowerman, Pan Wenbo, Pan, Mei Wei, Wei, “ I’m, Xi Jinping’s, Souvannaseng, Hong Kong –, Hong Kong’s, Yasuyoshi Chiba, Wong Muh Rong, ” Wong Organizations: CNN, Initiative, China Railway, Reuters, East Japan Railway Co, Malaysian, Bentley University, of, Communist Party, Laos Railway, Laos Railway cumulatively, Orient Express, Getty Locations: China, Singapore, Asia, Laos, Kunming, Vientiane –, Indonesia, Jakarta, Bandung, West Java, Thailand, Bangkok, Thai, Malaysia, Kuala Lumpur, Southeast Asia, “ China, Peerapon, Cities, Penang, Malacca, Phuket Old Town, Beijing, Vietnam, Philippines, Cambodia, Wat, Siem Reap, , Kowloon, Hong Kong, Shanghai, Halim, AFP,
And perhaps best of all, money — from selling the electricity generated by the wind turbines studding the flat green fields stretching out to the North Sea. A slice of the cash goes to the villagers themselves, with the local buy-in making this windy farming enclave near the border with Denmark a showcase for ways to push ahead with renewable energy projects. The S&P Global Clean Energy Index of shares in companies with clean energy-related businesses has fallen 26% over the past year, even as broader market indexes have surged to records. In sub-Saharan Africa, where half the population lacks access to electricity, renewable projects face even steeper challenges with financing. In Nigeria, where blackouts are an everyday event for about half of the country’s 213 million people, some 14 solar projects have stalled because the finances don’t add up.
Persons: , Astrid Nissen, moos, , Mackenzie, it's, Nissen, Christian Andresen, Andresen, Orsted, Vattenfall, David Shepheard, Edu Okeke, Taiwo Organizations: U.S . Federal Reserve, European Central Bank, University College London, Solar, Energie Andresen GmbH, Energy, logjams, World Bank Locations: SPRAKEBUELL, Germany, Denmark, village's, Spain, Italy, Africa, Flensburg, Sprakebuell's, German, Danish, New Jersey, Swedish, North American, Saharan Africa, Nigeria, Katsina, Abuja
Bloomberg reported new details about sexual harassment in Citigroup's equities division. A former managing director filed a lawsuit last year, saying the toxic culture persisted until 2022. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The bank's equities division, which helps hedge funds execute trades, has been plagued by a culture of "persistent harassment and discrimination," Bloomberg reported after interviewing 22 people who "worked in or closely with the equities division." This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Bloomberg, Service, Citigroup, Business
Business: Greencore Group is an Ireland-based manufacturer of convenience foods. Premier Foods has generated a total return of nearly 300%, while Greencore is down 41.5% in that time. It is hard to believe there is another investor more qualified to create shareholder value at Greencore than Oasis. In addition, at The Restaurant Group and Premier, Oasis pushed for the sale of non-core assets, which is consistent with streamlining operations and creating shareholder value. One Greencore director who Oasis knows well is Alastair Murray, the former CFO and once-interim CEO of Premier Foods.
Persons: Seth Fischer, Greencore, Daniel Wosner, Oasis, Gavin Darby, Darby, Wosner, Wosner's reappointment, Dalton Philips, Catherine Gubbins, Alastair Murray, Murray, Ken Squire Organizations: Greencore, Convenience Foods, Ireland, Oasis Management, Oasis, Premier Foods, Apollo, Premier, Group, 13D Locations: Ireland, United Kingdom, Hong Kong, Tokyo, Austin, Cayman Islands, Asia, Europe
"The amount of personal and car information that car companies collect, share and sometimes sell is beyond what is necessary to get someone from Point A to Point B safely. But there are growing privacy concerns as reports proliferate about car companies sharing driver data with insurers, and as car companies get into the insurance business themselves. To be sure, there can be valid reasons to collect driver and car data for safety and functionality purposes, and some essential services, such as emergency and security-related data sharing, may be difficult or impossible to opt out of. Ford, for example, said it provides customers with a choice regarding any sharing of connected vehicle data. The government is looking at car privacy regulationsThere are various regulatory efforts afoot to understand carmakers' data-sharing practices and reign in potential privacy violations.
Persons: Jen Caltrider, There's, That's, James Hodgson, Parv Sharma, Caltrider, Cobun Zweifel, Mo Al, Keegan, Edward J, Markey, Eric Goldman, Hodgson, It's Organizations: Mozilla Foundation, Mozilla, ABI Research, McKinsey, Counterpoint Technology Market Research, Ford, Hyundai, Nissan, BMW, Keegan, International Association of Privacy, SBD Automotive, Protection Agency, Federal Trade Commission, Zweifel, Senate Commerce, Science, Transportation, Santa Clara University School of Law, Apple Locations: U.S, California , Colorado, Connecticut, California
To cruise lines, they're cash cows. Related storiesThese are the three reasons cruise-run private destinations have become so important. Amid rising fuel costs, it's easy to see why cruise lines would want to plan more itineraries around these nearby stops. Private destinations keep profits in-houseThe bar had two halves: one on land and the other at pool level. And because there's no need to rely on other excursion operators, they allow cruise lines to keep more profits in-house.
Persons: , Patrick Scholes, Michael Bayley, Naftali Holtz, it's, Scholes, wouldn't, Linken D'Souza, Brittany Chang, Josh Weinstein, Jason Liberty, Simone Padovani, CHANDAN KHANNA, They're Organizations: Service, Royal, Business, Truist Securities, Disney Cruise Line, Disney Cruise, Holland America, MSC, Royal Caribbean International, Royal Caribbean Group, Beach, cabanas, Carnival Corp, Private, Hideaway, Disney, Key, Getty Locations: Miami, Bahamas, CocoCay, Caribbean, Honduras, Belize, Eleuthera, Cay, Holland, Royal Caribbean, Paradise, Nassau, Florida, cabanas, Royal, Orlando, Venice, Italy's Giudecca, Santorini, Greece, Key West , Florida, California, Alaska , Maine, Europe, Juneau , Alaska, French Polynesia, Italy
Doctor, then a Goldman Sachs managing director who ran the bank-solutions group based in Hong Kong, was visiting the bank's London office. The AI startup was built to suggest potential deals based on the data it's exposed to. Louisa AI knows that a current Goldman employee used to work at the semiconductor company, and the AI knows a project-finance employee in New York. In an article about solar panels, Louisa AI would link the words "solar panels" to "solar" and then to "renewables." Here's the pitch deck Louisa AI used to raise $5 million to fund its AI-powered deal prompter.
Persons: Rohan Doctor, Goldman Sachs, Doctor, Jim Esposito, Louisa AI, Louisa, Janet Yellen Organizations: Business, Blue9, Insight Partners, Goldman, Oxford Locations: Hong Kong, London, Asia, Oxford, Canada, Here's, Taiwan, New York
The announcement comes after a lengthy public absence, sparking numerous conspiracy theories. Her last public engagement was alongside the royal family on Christmas Day. Ever since announcing her abdominal surgery in January, conspiracy theories about the princess' absence and her overall health have flooded social media. AdvertisementKristen Meinzer, a royal commentator based in the US, told Business Insider that Kate's statement should end the conspiracy theories. "The royal family is usually more direct with its messaging," she said, referencing how Buckingham Palace shared news of King Charles' cancer diagnosis .
Persons: Kate Middleton, , William, Kate, Kristen Meinzer, Meinzer, Buckingham, King Charles, Charles III, Max Mumby, Charles, Rishi Sunak, she'd, hyperemesis, Tenille Clarke, Clarke, Nick Robinson, Princess, Dickie, Queen Elizabeth's Organizations: Service, British, Chambers Media Solutions, BBC, Victoria Locations: Wales, Buckingham
Horwitz's March 13 memo was sent to all partners, managing directors, and vice presidents in response to a recent Wall Street Journal story. Women exits at GoldmanThe story comes amid a recent spate of departures of high-profile female executives at Goldman. Other women partners who have left include Katie Koch, a former top executive in asset management; Heather Miner, ex-global head of investor relations; and Jennifer Davis, a former head of retail investment banking. We are very fortunate to have extraordinary female partners that continue to increase in numbers. Our longer term success depends significantly on developing female partners in senior roles."
Persons: Goldman Sachs, Russell Horwitz, hasn't, Horwitz, David Solomon's, Horwitz —, Goldman, Marc Nachmann, Stephanie Cohen, BI's Bianca Chan, Beth Hammack, Cohen, Hammack, Alison, , Solomon, Katie Koch, Heather Miner, Jennifer Davis, Horowitz, Russell W, David, we've Organizations: Business, Horwitz's, Goldman, Firm, Women, Media Relations
NEW YORK (AP) — Garden centers enjoyed a pandemic boom, particularly with millennials, as people looked for outdoor activities during lockdowns. To regain the sales momentum, garden centers must navigate a number of challenges as another spring season kicks in. At Flowercraft Garden Center, a San Francisco garden center that is in its 50th year of operation, houseplants, vegetable starter plants and citrus trees are selling well, said general manager Lydia Patubo. That was good for an area suffering from a yearslong drought, but bad for garden center business. Even though his sales have plateaued since the pandemic, he feels the 34-year-old garden center is in a good spot.
Persons: Danny Summers, Summers, That’s, , Lydia Patubo, Patubo, San Francisco, ” Patubo, Chris Cordrey, , ” Cordray, hasn’t, Kat McGraw, ” McGraw Organizations: Survey, The Garden Center Group, Garden, , East Coast Garden, National, Administration, Co, Atlanta, Locations: U.S, San Francisco, San, California, Millsboro , Delaware, Chattanooga , Tennessee, Nashville, Tennessee
In France, a land of fine dining, Michelin stars and high standards for cuisine, there's a surprising favorite: American fast food. Expilly oversaw Popeyes' 2023 arrival in France while serving as COO of Popeyes France for French restaurant group Napaqaro. Burger King specifically has gone aggressively after the market "given the propensity for American quick service foods and concepts in France," Charles said. In 2024, McDonald's and Burger King hold more than 40% of the market, according to Euromonitor International, and now consider it their biggest one outside the U.S. French QSRs did take a hit in 2020, but the industry bounced back quickly, earning more profits in 2021 than before the pandemic, according to Euromonitor International.
Persons: Xavier Expilly, EXPM, Expilly, Popeyes, Burger, McDonald's, Andrew Charles, Cowen, Charles, Burger King, Joel Tissier, haven't, Tissier Organizations: Euromonitor, CNBC, Restaurant Brands, Canadian, Mac, Créteil, KFC, Euromonitor International, BK Locations: France, Europe, American, Burger, Paris, United States
"What we see right now is the unfolding of a slow-motion train accident," he told reporters at a briefing last week. "That's when trade becomes a security question and I think that is perhaps not fully appreciated in China just yet." There needs to be an honest conversation between Europe and China about what this is going to mean. The EU was China's largest regional trading partner until Southeast Asia recently surpassed it. The U.S. is China's largest trading partner on a single-country basis.
Persons: Jens Eskelund, Eskelund, I've, Markus Herrmann Chen Organizations: Future Publishing, Getty, European Union Chamber of Commerce, EU, of Commerce, Investment, China Macro Locations: Hefei, Anhui province, BEIJING, Europe, Beijing, China, Southeast Asia, U.S
It may not be investors' first idea when thinking of home improvement stocks, but Loop Capital sees Best Buy as an under-the-radar pick as the housing market improves. Loop managing director Anthony Chukumba, who has a buy rating on Best Buy, sees the electronics retailer as a potential "stealth housing play." "We were encouraged by the latest macroeconomic data, particularly the ongoing labor market strength and the housing market 'green shoots,'" Chukumba wrote to clients. Chukumba said home furnishing retailers such as Floor & Decor , RH and Williams-Sonoma should also benefit as the housing market improves. Best Buy shares have struggled this year, shedding about 2% and lagging far behind the rest of the market.
Persons: Anthony Chukumba, Chukumba Organizations: Williams Locations: Sonoma, Minnesota
Anderson exposes corporate fraud and ponzi schemes through his company Hindenburg Research. Congress (IYC) staged a protest demanding a probe into the allegations of fraud made against the Adani group in the Hindenburg research report. Controversial practice Breakout Point has tracked 74 Hindenburg short bets it has opened since 2017. watch nowBiggest hits One of Hindenburg's biggest recent campaigns centered on a collection of businesses owned by Indian billionaire Gautam Adani. In January 2023, Hindenburg published a report accusing Adani Group companies of "brazen stock manipulation and accounting fraud."
Persons: Nate Anderson, Anderson, Carl Icahn, Gautam Adani, Ivan Cosovic, Hindenburg, LPP, Gautam Organizations: Hindenburg Research, Washington Post, The Washington Post, Getty, The, CNBC, Indian Youth Congress, Central, Indian Youth Congress Office, Congress, Hindustan Times, GameStop, Hindenburg's, Adani, Securities and Exchange Board of India Locations: The New York, NY, New York, DELHI, India, New Delhi, Gdansk, Russia, Ukraine
Zillow reported that it outperformed the residential real estate industry by 12 percentage points in 2023. That’s because one of the main ways Zillow makes money is through lead generation for real estate agents. “This shift in the structure of real estate transaction costs is too new to understand how it will impact housing market dynamics,” a spokesperson said. Zillow could make even more money if real estate agents offer their services piecemeal, he said. The takeawayThere’s a lot of disagreement between analysts about the future of Zillow and the real estate industry at large.
Persons: Zillow, , Dan Kurnos, it’s, Zillow’s, they’ll, who’s, Kurnos, ” Stephen Brobeck, , It’s, Homes.com, William Blair Organizations: CNN Business, Bell, New York CNN, National Association of Realtors, Realtors, Benchmark Company, NAR, Zillow, Consumer Federation of America, CNN, Bank of America Locations: New York
CNN —Shigeichi Negishi, the entrepreneur who invented the world’s first karaoke machine, has died aged 100. Negishi, whose 1967 “Sparko Box” prototype is among several devices credited with ushering in Japan’s karaoke craze, died from natural causes in January. His death, which was made public last week, was confirmed to CNN by Shiro Kataoka, managing director of the All-Japan Karaoke Industrialist Association. “When I asked the factory engineer, he said, ‘It’s easy,’” Negishi recalled in an account published by the All-Japan Karaoke Industrialist Association, an industry body for Japan’s karaoke operators. Subsequent developments, including the introduction of video karaoke and networked karaoke systems, helped the phenomenon spread across Asia and the world in the following decades.
Persons: Shigeichi Negishi, Shiro Kataoka, Negishi, , ” Negishi, Leon Harris, Matt Alt, Yoshio Kodama’s, , , I’d, Association’s, ” Shigeichi Negishi, Hiroko Yoda, Daisuke Inoue, Inoue Organizations: CNN, Japan Karaoke, Association ., Association, Locations: Japan, Tokyo, Asia
Fabrics retailer Joann files for bankruptcy
  + stars: | 2024-03-18 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +2 min
New York CNN —Joann, the 81-year-old fabric and craft retailer, has filed for bankruptcy as it struggles with customers cutting back on discretionary spending. In a statement Monday, the Ohio-based company said it filed for Chapter 11 bankruptcy protection and has secured $132 million in fresh funding that helps reduce its debt in half, which had ballooned to $1 billion. However, that has since faded, and inflation has soared, prompting customers to spend less on non-essential items. Joann’s stock was delisted from the Nasdaq and will become privately owned following the bankruptcy process, which it expects to happen as fast as next month. “The bankruptcy of Joann has been looming for a long time and was always a matter of when, rather than if,” said Neil Saunders, managing director and retail analyst for GlobalData, in a note Monday.
Persons: New York CNN — Joann, , Scott Sekella, Joann, Neil Saunders, , ” Saunders Organizations: New, New York CNN, Nasdaq, GlobalData Locations: New York, Ohio
Modern tech-enabled versions of modular housing promise a faster, more sustainable solution to housing crises, according to experts. The fact that modular housing is also made in a controlled factory environment means less waste is generated, while also resulting in more energy-efficient homes. A 2022 report from industry group Make UK Modular highlighted that 80% fewer vehicle movements were needed to development sites with modular building. In the U.K. last year, Ilke Homes collapsed, while Legal & General moved to wind down its modular housing factory. By comparison, a Make UK Modular report published last year said more than 3,000 modular homes were being built in the U.K. annually, though there was capacity to build five times that number.
Persons: Prefabrication, William the Conqueror, Andrew Shepherd, Shepherd, Modulous, Jonatan Pinkse, Pinkse, Suzanne Peters, Daniel Paterson, prefabrication, Richard Valentine, Valentine, Selsey Organizations: Bloomberg, Getty, Sears, CNBC, University of Cambridge, Edinburgh Napier University, Ilke, Legal, King's College, Alliance Manchester Business School, Savills Research, McKinsey, Company, Ikea, Vonovia Locations: Foston, Derby, housebuilding, England, U.S, King's College London, Wales, Selsey, Sweden, Japan, prefabrication, Berlin, Germany
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMeta is more of a content recommendation engine than a social media network: Wells Fargo's GawrelskKen Gawrelski, Wells Fargo Securities equity analyst and managing director, joins 'The Exchange' to discuss the competition between Meta and Google, what's driving Meta now, and more.
Persons: Wells, Ken Gawrelski Organizations: Wells Fargo Securities, Meta, Google Locations: Wells Fargo
CNN —Running to the tail of Boeing’s 787 Dreamliner is an umbilical cord carrying a rapid play-by-play of virtually every flight feature. The 787 Dreamliner — one of Boeing’s more recently developed aircraft — feeds data into the flight data recorder through a system called the Common Data Network, which some compare to the human body’s central nervous system. The Federal Aviation Administration used this data after ungrounding Boeing’s 737 Max in late 2020 to track every Max flight. Some aircraft also carry a Quick Access Recorder (QAR) that is not hardened like the FDR but tracks the same data. When US Air flight 427 crashed three years later near Pittsburgh, the FDR recorded 11 parameters.
Persons: FDR, , Peter Goelz, Goelz, Kathleen Bangs, Max Organizations: CNN, FDR, LATAM Airlines, Street Journal, National Transportation Safety Board, US National Transportation Safety Board, International Civil Aviation Organization, Federal Aviation Administration, Aircraft Communications, United Airlines, US Air, NTSB Locations: France, Australia, United Kingdom, Pittsburgh
U.S. crude oil futures might be showing signs of a break out after topping $80 this week, though some analysts caution against reading too much into the move. The move higher came after the International Energy Agency forecast a crude supply deficit this year and Ukraine attacked several oil refineries in Russia. U.S. crude performed the same pattern this week, wiping out and closing above last week's intraday high of $80.67. U.S. crude has also held above its 200-day moving average of $78.13 a barrel almost all month, he said. As the market enters a supply deficit this year, Riyadh could start rolling barrels back on the market, Melek said.
Persons: Matt Maley, Miller, Tom Fitzpatrick, R.J, O'Brien, WTI, Brent, Fitzpatrick, Maley, Malley, Bart Melek, Melek, We're, Carter Worth, It's, it's, Worth Organizations: West Texas Intermediate, International Energy Agency, SPDR, Energy, TD Securities, U.S, Worth Locations: Ukraine, Russia, Saudi Arabia, Saudi, Riyadh, U.S, United States
China could retaliate against Apple and Tesla via brand damage campaigns or stifling local ops. AdvertisementA potential TikTok ban in the US could spell trouble for Apple, Tesla, and other American companies operating in China. And on Wednesday, China's foreign ministry warned TikTok ban attempts would "eventually backfire on the US." Deepwater Asset Management managing partner Gene Munster told Business Insider he believes a TikTok ban has a 25% chance of materializing. In a world where there is a TikTok ban, Munster said, "Chinese leadership could expand its anti-iPhone campaign beyond the government."
Persons: TikTok, , Gene, Munster, Dan Ives, Tesla Organizations: Apple, Service, Asset Management, Gene Munster, Business, Wedbush Securities, BI, Wynn Resorts, Las Vegas Sands, Texas Instruments, IPG Photonics, Financial Times, Huawei Locations: China, United States, Las Vegas, Qualcomm, Munster,
Three-Stock Lunch: McDonald's, Adobe and Ulta
  + stars: | 2024-03-15 | 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 EmailThree-Stock Lunch: McDonald's, Adobe and UltaBoris Schlossberg, BK Asset Management managing director of FX strategy, joins 'Power Lunch' to discuss his investing take on three stocks: McDonald's, Adobe and Ulta.
Persons: Boris Schlossberg Organizations: Adobe, BK Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailI have no interest in buying TikTok, says Khosla Ventures' Keith RaboisKeith Rabois, Khosla Ventures Managing Director, joins 'Closing Bell Overtime' to talk the proposed TikTok ban, possible buyers for the app and more.
Persons: Keith Rabois Keith Rabois Organizations: Khosla Ventures
Watch CNBC's full interview with Khosla Ventures' Keith Rabois
  + stars: | 2024-03-15 | 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 EmailWatch CNBC's full interview with Khosla Ventures' Keith RaboisKeith Rabois, Khosla Ventures Managing Director, joins 'Closing Bell Overtime' to talk the proposed TikTok ban, possible buyers for the app, AI and more.
Persons: Keith Rabois Keith Rabois Organizations: Khosla Ventures
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