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download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Related storiesUkraine has long faced problems recruiting enough troops to renew its military, exhausted and badly depleted after more than two years of brutal war with Russia. AdvertisementAccording to reports, units on the front line are seriously overstretched, and troops have to fight for weeks in some cases before they are rotated away from the front line to recuperate. "Truthfully, and I know some of my artillery brethren would chide me for this, but artillery and long-range systems do not win war," he said. Ukraine has not been able to do that to the extent they need to with some of the terrains they've lost to Russia."
Persons: , Mark Herlting, Hertling, Valerii Zaluzhnyi, Volodymyr Zelenskyy Organizations: Service, CNN, Business, US Army Locations: Ukraine, Russia, Europe
A terrorist attack of 2015 that left her city angry and heartbroken persuaded Paris’s mayor, Anne Hidalgo, to campaign for the Olympic Games. “Something that is very powerful, very peaceful and allows us to move forward. So, I threw myself into it.”Nine years later, the Summer Olympics are set to open in Paris in July with France at its highest level of terrorism alert, after the attack on the Moscow concert hall last month. Yet for the first time, the opening ceremony will not be held inside the barricaded confines of a stadium. Instead, athletes will float in boats down the Seine River through the heart of the dense, ancient city before half a million spectators packed into stands and leaning out of windows.
Persons: Paris’s, Anne Hidalgo, , , Charlie Hebdo Organizations: Olympic Locations: Paris, France, Moscow
There was a risk, he said, that US-China relations could "return to a downward spiral." As such, the US-China relationship appears to have entered a dangerous period, and time may be running out to save it. The US has handed Ukraine billions in aid and military support to resist the invasion, with a new $61 billion bill passing this week. AdvertisementBlinken said he raised concerns about China's support for Russia in its invasion of Ukraine. Blinken will have to overcome several hurdles for US-China relations to improve.
Persons: , Antony Blinken's, Xi Jinping, Wang Yi, Xi, Joe Biden, Ali Wyne, Wang, Blinken, Ian Bremmer Organizations: Service, Business, US, West, International Crisis, Russia, Eurasia Group, Bloomberg Locations: China, Ukraine, loggerheads, Taiwan, Washington, Beijing, US, Western Europe, Russia
The strikes are doing serious damage to Russia's oil and gas sector. Bloomberg reported that Russia's oil refining is at an 11 month low. AdvertisementBloomberg earlier this week reported that Russia's oil refining is at an 11-month low because of flooding and Ukraine's drone campaign. Ukraine's attacks on Russian oil depots are one of the few bright spots in its war in recent months. "Future Ukrainian drone strikes may disable and disrupt more of Russia's refining capacity and inflict critical constraints on Russian refining that begin to substantially impact Russia's production of distillate products," the analysts said.
Persons: , Joe Biden's Organizations: Bloomberg, Service, AFP, Metallurgical, The Locations: Ukraine, Russia, Russia's Smolensk, Lipetsk, Russia's, Ukraine's, US
US weapons could begin arriving in Ukraine in a matter of days, according to The New York Times. Russia is intensifying attacks on Ukraine in the window before aid arrives. There is a vital problem that US aid can't fix: a lack of Ukrainian troops. According to The New York Times, US weapons could start arriving in Ukraine within days. And it still has a major problem that aid can't fix: a lack of troops.
Persons: Organizations: The New York Times, Service, Business Locations: Ukraine, Russia
Chinese banks are helping to aid Russia's invasion of Ukraine, the US alleges. The US is considering sanctions to cut Chinese banks off from the dollar, according to The Wall Street Journal. AdvertisementThe US is drawing up sanctions that could cause some Chinese banks to lose access to the dollar, according to The Wall Street Journal. In response to previous sanctions, Russia and China intensified efforts to create exchange mechanisms that don't rely on the dollar. Alexandra Prokopenko, a fellow at the Carnegie Russia Eurasia Center think tank, told The Wall Street Journal that regional Chinese banks had emerged that had little involvement in dollar exchanges.
Persons: , Antony Blinken, Alexandra Prokopenko, Prokopenko, Maria Snegovaya Organizations: Wall Street, Service, Reuters, Financial, Carnegie Russia Eurasia Center, Center for Strategic, International Studies Locations: Ukraine, China, Russia, Italy, Russian
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRate cut delay will provide market fuel going into 2025, says Newton's John PorterJohn Porter, CIO and head of equity at Newton Investment Management, joins CNBC's 'The Exchange' to discuss why a delay in rate cuts could be favorable, small cap opportunities, and more.
Persons: Newton's John Porter John Porter Organizations: Newton Investment Management
A $61 billion package of US military aid for Ukraine is being signed off. AdvertisementRelief swept the front line in Ukraine on Saturday after the US voted to release a long-delayed $61 billion package of military aid to help defend against Russia's invasion. But while it's likely to help kill Russia's momentum and give Ukraine much-needed support in the coming months, experts are cautioning that it doesn't ensure victory for Ukraine. Analysts said the aid bill will bolster Ukraine's defenses against a possible planned Russian offensive this summer. AdvertisementFor Ukraine to feel confident in winning the war against Russia, it will need more military aid beyond 2024.
Persons: , Mark Warne, Vladimir Putin, Oleksiy Goncharenko, it's, George Beebe, Donald Trump, haven't, There's Organizations: Service, CNN, US, Ukraine, Senate, CBS, Ukrainian, Financial, BI, Republican, The Financial Times, European Union Locations: Ukraine, Ukrainian, Russia
Bill Bradley, the basketball Hall of Famer and former United States senator known as a staunch opponent of legalized sports betting, was speaking about the topic back in January. But he might as well have been predicting the future. “Well there hasn’t been a scandal, yet,” he said, discussing how professional sports has become ever more entwined with the gambling industry in recent years. The league said Mr. Porter wagered money on his own team to lose, pretended to be hurt for betting purposes and shared confidential information with gamblers. competition for our fans, our teams and everyone associated with our sport,” Adam Silver, the league’s commissioner, said in announcing Porter’s punishment.
Persons: Bill Bradley, , Jontay Porter, Porter wagered, Adam Silver Organizations: of Famer, United, National Basketball Association, Toronto Raptors Locations: United States
An Israeli strike hit Isfahan in Iran, multiple outlets said, citing unnamed senior US officials. It came after Iran fired drones and missiles at Israel in its first-ever direct attack. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe relatively restrained nature of an apparent Israeli attack on Iran suggests that both sides are seeking to step back from the brink of a regional war, according to experts. Several explosions caused by an Israeli attack were heard in the central province of Isfahan on Friday, unnamed senior US officials told multiple outlets .
Persons: Organizations: Service, International Atomic Energy Agency, Business Locations: Israeli, Isfahan, Iran, Israel
NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . There is a glimmer of hope for Ukraine, with a congressional vote that could release the aid package expected this weekend. Spurling, the RAND analyst, said that a Russian victory would most likely take the form of Ukraine ceding large amounts of conquered territory to Russia. AdvertisementThis implies that Ukraine, in any scenario, will have to cede territory, either formally or informally.
Persons: , Vladimir Putin, Putin, Oleksandr Danylyuk, Bryden Spurling, George Beebe, Ukraine's, Beebe Organizations: Service, Royal United Services Institute, of Defense, RAND Corporation, Business, CIA, RAND, NATO Locations: Ukraine, Europe, Russia, Kharkiv, Ukraine's, Russian, Zaporizhzhia, Donetsk, Moscow, NATO
Hazards of sports gambling: NBA bans Jontay Porter for life
  + stars: | 2024-04-18 | 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 EmailHazards of sports gambling: NBA bans Jontay Porter for lifePatrick Rishe, Washington University in St. Louis director of sports business program and Sportsimpacts founder and president, joins 'Squawk Box' to discuss news of NBA banning Toronto Raptors Jontay Porter from the league for life, the hazards of gambling to sports leagues, and more.
Persons: Jontay Porter, Patrick Rishe, Louis, Toronto Raptors Jontay Porter Organizations: Washington University, NBA, Toronto Raptors Locations: St
The Toronto Raptors' Jontay Porter received a lifetime ban from the NBA over a betting scandal. If you think that's a crisis for the NBA, think again: The NBA is happy to make an example of Porter. AdvertisementHow dumb do you have to be to throw away an NBA career in a betting scandal? Or, if you don't like that framing, try this: How much trouble do you have to be in — financial or otherwise — to throw away an NBA career in a betting scandal? I can't fathom what led the Toronto Raptors' Jontay Porter to allegedly 1) conspire with bettors about a game he was playing in and 2) bet on NBA games, including betting against his own team.
Persons: Jontay Porter, Porter, Organizations: Toronto Raptors, NBA, Service
Read previewChina's leader, Xi Jinping, played the role of Ukraine's peacemaker during talks on Tuesday with German Chancellor Olaf Scholz. At the meeting in Beijing, Xi presented his German counterpart with four principles for peace in Ukraine, according to Chinese state media. AdvertisementThe principles are vague and similar to a Ukraine peace plan proposed by China last year. But despite these public statements, analysts say that Xi's claims to be a peacemaker are a charade and that in reality, China is increasing support for Russia's military. AdvertisementThis is in addition to the diplomatic and economic support China has already given the Kremlin.
Persons: , Xi Jinping, Olaf Scholz, Xi, Scholz, Vladimir Putin, he's, Joe Biden Organizations: Service, Business, London's Royal United Services Institute, The, Associated Press Locations: Beijing, Ukraine, China, Russia, US, Germany, San Francisco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJontay Porter: NBA bans Toronto Raptors forward for life over gambling scandalCNBC's Contessa Brewer joins 'Power Lunch' to report on NBA player Jontay Porter being banned for sports betting.
Persons: Jontay Porter, Contessa Brewer Organizations: Toronto Raptors
Jontay Porter #34 of the Toronto Raptors warms up before the game against the Portland Trail Blazers at the Moda Center on March 09, 2024 in Portland, Oregon. The NBA banned Toronto Raptors forward Jontay Porter for allegedly betting on games, passing on information to gamblers and claiming illness to influence a wager, the league said on Wednesday. The 24-year-old played in 26 games this season, averaging 4.4 points and 3.2 rebounds per contest. This is a developing story. Please check back for updates.
Persons: Jontay Porter, Adam Silver Organizations: Toronto Raptors, Portland Trail Blazers, Moda Center, NBA Locations: Portland , Oregon
Toronto Raptors player Jontay Porter has been banned for life from the NBA for gambling violations. The NBA said Porter leaked health information to a known sports bettor, among other violations. The NBA said in a statement that it opened an investigation into Raptors forward Jontay Porter after a game last month that attracted heavy interest from sports bettors. Related storiesSeparately, the NBA said that between January and March of this year, Porter bet on at least 13 games totaling $54,094 by using an associate's online betting account. Advertisement"Three of the bets were multi-game parlay bets that included one Raptors game," the NBA said, "in which Porter bet that the Raptors would lose."
Persons: Jontay Porter, Porter, , Porter didn't, Adam Silver, Shohei Ohtani Organizations: Toronto Raptors, NBA, Service, Raptors, American Gaming Association, Dodgers
On the front line in east and south Ukraine, reports say the situation is increasingly desperate, with Russia outfiring Ukraine at a rate of three to one. Senior Ukrainian military officials, talking to Politico, said that Russia could break through wherever it focuses its anticipated summer offensive. AdvertisementThe role of the WestUkraine is on a "starvation diet" for aid, George Barros, an expert at the Institute for the Study of War, told BI. Anadolu/Getty ImagesAnalysts also say that weaknesses in Russia's military are limiting the Kremlin's ability to take advantage of the situation. "For Ukraine to suffer total defeat, we'd need to see a major collapse in Ukrainian lines and morale," he said.
Persons: , Volodymyr Zelenskyy, Zelenskyy, Dmytro Kuleba, Bryden Spurling, George Barros, BI's Sinéad Baker, Barros, ATACMS, Klaus, Dietmar Gabbert, we've, Justin Bronk, Ukraine —, Politico —, Mykola Bielieskov, Spurling, George Beebe, Beebe, Ukraine it's, ferociously Organizations: Service, Republicans, Business, Patriots, Politico, Russia outfiring, Ukrainian, RAND Corporation, AP, US State Department, Institute for, Leopard, Getty, London's Royal United Services Institute, Ukraine, National Institute for Strategic Studies, Fleet, Anadolu Locations: Russian, Ukraine, Russia, Russia outfiring Ukraine, Iran, North Korea, West Ukraine, Avdiivka, Zaporizhzhia, Ukrainian, NATO, Kyiv, Avdiivkva, Dnipro
China refused to condemn Iran's missile attack on Israel. AdvertisementChina refused to condemn Iran's missile and drone attack on Israel as it seeks to position itself as a key player in the Middle East. The statement was notable because it contained no condemnation of Iran's attack on Israel on Saturday. The US has sought to enlist China is helping to prevent a bigger regional war, the State Department said. In the readout, China praised Iran for acting with restraint in its response to Israel's embassy attack.
Persons: , Wang Yi's, Hossein Amir, Amir, Abdollahian, Wang, Israel's, Xi Jinping, Ebrahim Raisi, Benjamin Netanyahu Organizations: Service, Foreign, Saturday, Iran, Iranian, Lebanese, Hezbollah, Israel's, US, State Department Locations: China, Israel, Iran, Damascus, Syria, Iranian, Saudi Arabia, Gaza, Beijing
The International Space Station has long been a symbol of international cooperation. AdvertisementSince the end of the Cold War, the International Space Station (ISS) has been a symbol of international cooperation. By 1988, 15 nations had agreed to participate in the project, then known as Space Station Freedom. Keystone/Hulton Archive/Getty ImagesThe Soviets had long-standing expertise in aerospace technology, having launched the world's first space station, "Salyut," in 1971. China has completed several unmanned Moon landings, has its own space station, and has developed a sophisticated commercial and military satellite program.
Persons: , Peggy Whitson, Vladimir Putin, Jill Stuart, Ronald Reagan, Bill Clinton, Terry Virts, Anton Shkaplerov, Marco Tacca, Oleg Artemyev, Denis Matveev, Sergey Korsakov, Virts, Michael Barratt, Matthew Dominick, Alexander Grebenkin, Jeanette Epps, Stuart, Verts, Musk Organizations: Astronauts, Service, Space, Veteran, ISS, Imperial College London, Politics, NASA, European Space Agency, ESA, Inter, Soyuz, Keystone, Hulton, Roscosmos, Reuters, Anadolu, Getty, Imperial College, Baikonur Cosmodrome, Elon Musk's SpaceX, The Independent, CNBC Locations: Russia, Ukraine, Europe, China, Japan, loggerheads, Hollywood, Canada, Soviet Union, Milan, Italy, Luhansk, Luhansk People's Republic, Russian, Baikonur, Kazakhstan, The, Soviet Russia
Jordan shot down an Iranian missile, and other Arab states may've provided intel. In March, Saudi Arabia and Iran restored ties with the help of China, agreeing to reopen embassies in their respective capitals. AdvertisementHowever, according to reports, Saudi Arabia and other Arab states are willing to continue discussions with Israel once fighting in Gaza has abated. There is a risk for Arab states though in being seen to come to Israel's aid, Giorgio Cafiero, CEO of Gulf State Analytics, told Business Insider. AdvertisementAs the conflict between Israel and Iran intensifies, Arab states face a tough choice between their security priorities and addressing public anger over Gaza.
Persons: Israel, Jordan, may've, , Samih, Marj Al, Yasmine Farouk, Farouk, Abraham, Trump, Israel's, Giorgio Cafiero Organizations: intel, Service, Deutsche Welle, St, Anadolu, Getty, Israel, Carnegie Endowment, International Peace, New York Times, Abraham Accords, Analytics Locations: Iranian, Israel, Iran, Damascus, Jordan, Gaza, Jordanian, Saudi Arabia, UAE, Gulf, Marj, Amman , Jordan, China, Bahrain, Amman
The mayor grew up in a building so decrepit — filthy hallways, no private toilets, no showers — that his friends in nearby concrete towers pitied him. One-quarter will become public housing after the Games. “All of a sudden, we have the same feeling of pride as people living in the hypercenter,” said the mayor of St.-Ouen, Karim Bouamrane, 51, using his personal shorthand for the glamorous downtown playgrounds of the elites. “There was Los Angeles, Barcelona, Beijing, London, Sydney and, now, there is St.-Ouen.”Even before the Olympic Committee choose to invest in this economically depressed northern suburb, St.-Ouen was changing. But since then, and since Mr. Bouamrane’s election as mayor in 2020, the transformation seems turbocharged.
Persons: , Ouen, Karim Bouamrane Organizations: Olympic Locations: St ., Paris, , St, Los Angeles, Barcelona, Beijing, London, Sydney
Russian attacks have knocked out a major power plant near Kyiv. But it's running desperately short of air defense missiles. The Ukrainian air defense is working "at the edge of its capacity," Oleksiy Melnyk, co-director of international security programs at the Kyiv-based Razumkov Center think tank, told CNN after the Kyiv attack. AdvertisementUkraine's President Volodymyr Zelenskyy, on a tour of Baltic states Wednesday, said his country is "sorely lacking" modern air defense systems amid intensifying Russian attacks. AdvertisementBut more Russian missiles are now getting through, and Ukraine's second biggest city, Kharkiv, is facing increasingly intense Russian attacks, with its power supplies disabled for long stretches.
Persons: , Andriy Hota, Volodymyr Zelenskyy, Dmytro Kuleba Organizations: Service, BBC, CNN, Baltic, Patriots, Politico, US Patriot Locations: Kyiv, Russia, Ukraine, Russian, Ukrainian, Kharkiv
In today's big story, we're doing a deep dive into the golf tournament at one of the most exclusive clubs in the world . Mike Ehrmann/Getty ImagesHarvard University alumni, Goldman Sachs partners, Birkin bag owners — those exclusive groups are nothing compared to an Augusta National Golf Course membership. The Masters Tournament, the first of four men's major golf tournaments, kicks off today , write Business Insider's Madeline Berg and Taylor Rains. Since it's almost impossible to check out Augusta National otherwise, the Masters has become a staple of the billionaire's social calendar. Augusta National runs a lottery system for them.
Persons: , Mike Ehrmann, Goldman Sachs, Birkin, Madeline Berg, Taylor, it's, Cork Gaines, aren't, Joe Ciolli, didn't, Chelsea Jia Feng, Bill Smead, Brad Porter, Elon Musk's, Y, Paul Graham, Alyssa Powell, Larry Ellison, David Ellison, Larry Ellison's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Getty Images Harvard University, Augusta, Waste, bros, Augusta National, Renaissance Technologies, Sigma, Robotics, Amazon Robotics, xAI, Paramount, Oracle, Google, JPMorgan, SpaceX Locations: Augusta, swag, Chelsea, D.E, Shaw's Valence, New York, London
Ukrainian drones are decimating Russian tanks, a NATO official said. Drones have been vital for Ukraine in fighting Russian attacks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In an interview with Foreign Policy, a NATO official said that Ukrainian first-person view (FPV) drones were responsible for two-thirds of recent Russian tank losses. While that may seem like a success for Ukraine, its heavy reliance on drones reflects its lack of alternatives.
Persons: Organizations: NATO, Service, Foreign, Ukraine, Business Locations: Russian, Ukraine, Ukrainian
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