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☆ Traders are betting on an outsized move in Deere on earnings this week — how to play it
▼ + stars: | 2024-08-12 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

Deere (DE) , headquartered in Moline, Illinois, manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, and related components. One of the oldest companies in the United States, Deere traces its history back to John Deere's "self-scouring plow" in 1837. However, even assuming 50 bushels per acre and a $5/bushel average price increase, the revenue per acre would have risen by ~$250/acre. However, while Deere & Company stock has underperformed the S & P this year, its enterprise value is nearly $100 Billion, almost double the company's valuation in January 2020, just before the pandemic. Unsurprisingly, DE options are pricing in a larger-than-average 6% move when the company reports earnings on Thursday.

Persons: John Deere's, John Deere, outperforming, Massey Ferguson Organizations: Deere, Caterpillar, Deere & Company, Nasdaq, Farmers, CNH Industry, CNBC, NBC UNIVERSAL, ~$, ~ $ $ Locations: Moline , Illinois, United States, Mexico, Holland

☆ New study links early childhood tablet use to anger outbursts
▼ + stars: | 2024-08-12 | by ( Katia Hetter | ) edition.cnn.com time to read: +9 min

One paper published just this year sheds some light as to why tablet use could be related to anger outbursts. This is in the context of near-universal use of social media, with up to 95% of kids ages 13 to 17 reporting using social media. American teens report spending a shocking amount of time — nearly five hours each day—on YouTube, TikTok, Instagram and other social media apps. There are a number of problems with this level of social media use, one of which is what this time is replacing. Third, for those whose kids already have smartphones and use social media apps, speak with them about the impact of social media on them.

Persons: Leana Wen, Wen, It’s, I’ve, Vivek Murthy, Murthy, I’d Organizations: CNN, George Washington University, Getty, Pediatrics, YouTube Locations: Nova Scotia, Canada, South Africa

A still image from a video shows former Milwaukee hotel workers holding down D'vontaye Mitchell at the downtown Hyatt Regency on June 30. Turner told authorities he “observed DM begging and harassing a guest of the hotel,” according to the criminal complaint. In the complaint, Turner said he told Mitchell not to enter the hotel but saw him do so and beg for money. Mitchell gets up and attempts to reenter the hotel but is pushed back outside, where Turner, Johnson-Carson and Williamson surround him. Hotel security footage appeared to show him striking Mitchell once with a closed fist, according to the document.

Persons: D’Vontaye Mitchell, Todd Alan Erickson, Devin W, Johnson, Brandon LaDaniel Turner, bellman Herbert T, Williamson, Ben Crump, William Sulton, Mitchell’s, ” Sulton, “, ” Erickson, Carson, Turner, D'vontaye Mitchell, CNN Todd Alan Erickson, Erickson, Todd Erickson, “ Erickson, one’s, Carson “, Mitchell, Mitchell “, DM’s, Herbert T, bellman Herbert Williamson, bellman, ” Williamson, ”, “ Williamson, DM, ’, I’m, ” Brandon LaDaniel Turner, D'Vontaye Mitchell, Matt Last, ” Last, Devin Johnson, “ Johnson, CNN’s Emma Tucker, Ray Sanchez, Raja Razek, Alisha Ebrahimji, Amy Simonson Organizations: CNN, Milwaukee County Medical, Hyatt Regency, Milwaukee County, Office, Aimbridge Hospitality, Hyatt, Milwaukee, Attorney’s, Sheriff's, Milwaukee Police, WISN Locations: Milwaukee, Carson, Hyatt Regency, Johnson

☆ How Warren Buffett's big Japanese investments fared in the global market rout
▼ + stars: | 2024-08-11 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

This week's violent global market meltdown started in Japan — where Warren Buffett has big investments — but the damage was limited. The Nikkei 225 index , a benchmark for Japanese stocks, plunged 12.4% on Monday, its worst day since "Black Monday" in 1987, triggering a domino effect globally. The stocks Buffett holds cratered as much as 30% initially, but bounced back by the end of the week along with the broader market. The Japanese trading houses also reported second-quarter earnings earlier this week, mostly exceeding analyst expectations and maintaining their full-year guidance. Away from Japan, Buffett was in a selling mood in the second quarter.

Persons: Warren Buffett, Buffett, Berkshire Hathaway, Buffett's, it's Organizations: Bank of Japan, Berkshire, Mitsubishi, Mitsui, Sumitomo —, Sumitomo, Tokyo Stock Exchange, Apple, Buffett Locations: Japan, Omaha, Berkshire

☆ A Massachusetts man wanted for rapes 35 years ago arrested in LA
▼ + stars: | 2024-08-11 | by ( Alaa Elassar | Amanda Musa | ) edition.cnn.com time to read: +5 min

CNN —A man wanted in the 1989 rapes of two Massachusetts women is in custody following an hourlong police chase in Los Angeles Thursday. Stephen Paul Gale, 71, was arrested after leading police on the chase, US Marshals Service spokesperson Brady McCarron told CNN. Massachusetts officials charged Gale in May with four counts of aggravated rape, two counts of kidnapping and one count of armed robbery, according to the news release. “None of this has ever left our lives,” one of the victims told CNN affiliate WFXT. A 1995 photo of Stephen Paul Gale is seen from a US Marshals wanted poster.

Persons: Stephen Paul Gale, Brady McCarron, Gale, Marian Ryan, “, ‘, ’, ’ ”, WCVB, McCarron, Stephen Pisarcik, John Rossi, Paul Costa, Lester Baker, “ It’s, ” Baker Organizations: CNN, US, KABC, Boston –, Middlesex, WFXT, WCVB, of Massachusetts, Framingham Police Department, Massachusetts State Police, Middlesex District Attorney’s Office, US Marshals Service, Framingham Police Locations: Massachusetts, Los Angeles, Framingham , Massachusetts, Boston, ”, khakis, Framingham

☆ Markets just had the most volatile week since the pandemic outbreak — What we learned
▼ + stars: | 2024-08-10 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +4 min

A wild week of trading on Wall Street ended with the S & P 500 back roughly where it started, but the lessons learned by whipsawed investors over those five days could determine what happens next. The S & P 500 had its worst day since 2022 on Monday, and then its best since 2022 on Thursday. But with the S & P 500 ending the week down less than 0.1% in a calm session on Friday, the market seems to have stabilized. .SPX 5D mountain The S & P 500 finished the week nearly flat. And I think that has to do with investors really being a little bit skeptical about some of this equity market volatility."

Persons: Tim Hayes, Ned Davis, Gennadiy Goldberg, didn't, Jeremy Schwartz, Peter Berezin, aren't, Wellington, Frank Gretz, RJ O'Brien, Tom Fitzpatrick, Fitzpatrick Organizations: Wall, Treasury, Ned, Ned Davis Research, TD Securities, CNBC, Japan —, Nikkei, Bank of Japan, BCA Research, Wellington Shields, Associates Locations: Japan

☆ My grandmother just turned 95, and she's still thriving. Here are her 3 secrets to longevity.
▼ + stars: | 2024-08-09 | by ( Kate Oczypok | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMy maternal grandmother, Theresa "Terry" Grady, just celebrated her 95th birthday in June. When my four younger siblings and I were younger, we always thought our grandmother was a "cool" grandma. Looking back on her wonderful life, it's easy to see what has helped her thrive well into her 90s. If there is one thing my grandma taught me over the years, it's the importance of family.

Persons: —, Theresa, Terry, Grady, I've, G, Ed Grady, Grandma, It's, we're Organizations: Service, Business, Facebook, Catholic

☆ Deadpool: Cover art showing Marvel hero’s first appearance could sell for record $7.5 million
▼ + stars: | 2024-08-09 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —As Deadpool breaks records at the box office with “Deadpool & Wolverine,” cover art depicting the of superhero’s first ever comic book appearance could sell for a record $7.5 million. Designed by writer and artist Rob Liefeld in 1991, it would become the most valuable comic book cover art ever sold if it fetches its asking price, according to Heritage Auctions, which is handling the sale. Deadpool became one of Marvel's most popular comic book characters. A poster of Deadpool hangs at the David H. Koch Theater during the premiere of "Deadpool and Wolverine" in New York City on July 23. The owner acquired it almost 20 years ago, after Liefed had sold it, but refused any offers to sell.

Persons: “ Deadpool, Rob Liefeld, Ryan Reynolds, Deadpool, Reuters “ Marvel, ” Liefeld, Liefeld, ”, scripter Fabian Nicieza, David H, Caitlin Ochs, Liefed Organizations: CNN, Heritage, Reuters, “, Koch, REUTERS, Deadpool Locations: …, New York City

☆ Everyone from Starbucks to Chinese giants wants in on the boba tea craze. Meet the family who says they started it all.
▼ + stars: | 2024-08-08 | by ( Huileng Tan | ) www.businessinsider.com time to read: +11 min

Chun Shui Tang founder Liu Han-chieh and managing director Angela Liu at one of their company's teahouses in Taichung. Chun Shui Tang's executives appear unperturbed by the many shapes and forms boba tea takes these days — Heinz ketchup boba tea, anyone? AdvertisementIn 2008, Chun Shui Tang introduced a boba tea hot pot with a savory tea-infused broth. Huileng Tan/Business InsiderChun Shui Tang OG shop in Taichung is a tourist hotspotToday, Liu's OG Chun Shui Tang teahouse in Taichung is on many tourists' checklists. Chun Shui Tang founder Liu said he isn't worried about the competition, because the market is big enough for everyone.

Persons: —, Chui, Chui Shui Tang, Chun Shui Tang, Liu Han, Liu, It's, Lin Hsiu, Chun, Huileng Tan, Lin, Angela —, doesn't, he's, Tang, He's, boba, Tu, Liu's, Angela, Chun Shui, Angela Liu, Heinz, they've, Liu wasn't, Mark Anthony Villones, Villones, Filippino Mark Anthony Villones, Kayne Sy, China Chun Shui Tang, Jason Yu, Kantar, Aly Song, Yu, it's Organizations: Service, Business, Chun Shui, Starbucks, Purdue University, Chun Shui Tang, Liu's, BI Locations: Chui Shui, Taiwan, Taichung, Japan, Tainan, China, Huileng, —, Philippines, Central China, Hong Kong

☆ Boeing’s new CEO is already making an overdue change his first day on the job
▼ + stars: | 2024-08-08 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Today is Kelly Ortberg’s first day as CEO of Boeing. The new CEO said in a memo to staff Thursday that he decided to work 2,300 miles from the company’s current corporate offices in Arlington, Virginia, to help restore trust in the company’s commercial aircraft business. A Boeing 737 MAX aircraft is shown on the assembly line at the Boeing facility in Renton, Washington. The company said it had no comment whether it is considering moving its entire headquarters back to Seattle along with Ortberg. Boeing executives admitted there they still don’t know how the plane in the door plug blowout left Boeing’s Renton, Washington factory without the four bolts needed to keep the door plug in place.

Persons: Kelly Ortberg’s, He’s, –, Ortberg, ” Ortberg, “, he’d, Jennifer Buchanan, Richard Aboulafia, ”, he’s, Max, Jennifer Homendy Organizations: New, New York CNN, Boeing, Puget Sound, Seattle Times, AP, Max, Alaska Airlines, ” Boeing, Federal Aviation Administration, National Transportation Safety Board, Alaska Locations: New York, Seattle, Chicago, Arlington , Virginia, Renton , Washington, Boeing’s Renton , Washington

☆ Golden Opportunity to Boost Job, Labor Market: Raise the Minimum Wage
▼ + stars: | 2024-08-08 | by ( Emily Stewart | ) www.businessinsider.com time to read: +11 min

The federal minimum wage, which has been stuck at $7.25 an hour for 15 years. Given the situation, here's an idea: Why not raise the federal minimum wage right now? Getting anything done legislatively is always a challenge, especially in an election year, but polls indicate a higher minimum wage is broadly popular. AdvertisementOnce the minimum wage gets so high that it starts to cause a bunch of job loss, that's a problem. If a higher minimum wage lifts millions of people out of poverty, that's incredible.

Persons: it's, Yannet Lathrop, California's, It's, Jacob Vigdor, Vigdor, Justin Wiltshire, Michael Reich, David Neumark, shouldn't, we've, they've, Emily Stewart Organizations: Bureau of Labor Statistics, National Employment, New York Times, Congressional, University of Washington, University of Victoria, UC Berkeley's Center, Dynamics, University of California, Business Locations: Nebraska, Florida, Washington ,, Washington, West, Wisconsin, Iowa, Mississippi, South Carolina, Seattle, California, British Columbia, New York, Irvine, America, Wiltshire

☆ A Gen Xer shares why going back to college after dropping out was the best decision he ever made
▼ + stars: | 2024-08-08 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Read previewDavid Houde feels like he's made it — and he thinks it wouldn't have been possible without his college degree. By 2006, he'd earned an associate degree in computer information systems and a bachelor's degree in computer science. A college degree helped him eventually land a high salaryWhen he first enrolled in college, Houde didn't have any idea what he would major in. In 2016, about a decade after he graduated with his bachelor's degree, he decided to pursue an MBA. Have you found financial success without a college degree?

Persons: —, David Houde, he's, it's, Houde, he'd, wasn't, I'm, hasn't Organizations: Service, Business, Pew Research Locations: Michigan, eureka

☆ How interpreters are helping this Indiana plant address its labor shortage
▼ + stars: | 2024-08-07 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

DS Smith launched the interpreter program as manufacturers were coming under pressure from all sides. She works on the floor with trainers and supervisors to teach Spanish-speaking workers how to use the equipment. Some of the translated materials are being shared at several of the more than a dozen other facilities that DS Smith operates in North America. He arrived in the United States from Venezuela in 2021 and joined DS Smith the following year after working as a hospital custodian. The jobless rate in the county, where DS Smith is one of five corrugated box manufacturers, has been in the 2% or 3% range since mid-2020.

Persons: DS Smith, Becky Gordon, ” Gordon, Smith, Elissa Ramirez, ”, Ben Karl, Ramirez, Stacey Thomas, Eduardo Vera, ” Ramirez, Vera, couldn’t, “, Molly Whitehead, Whitehead, she’s, Monica Anderton, ” Anderton Organizations: CNN, Nicaraguan, DS, American Translators Association, United, Boone Economic Development Corporation Locations: Lebanon , Indiana, Indianapolis, Frankfort, Lebanon, Indiana, United States, North America, Los Angeles, Mexico, Puerto Rico, Venezuela, Boone County, Boone

☆ China launches its rival to Elon Musk's Starlink internet satellites
▼ + stars: | 2024-08-06 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The Chang'e 6 lunar probe and the Long March-5 Y8 carrier rocket combination sit atop the launch pad at the Wenchang Space Launch Site in Hainan province, China May 3, 2024. China on Tuesday launched its first batch of internet satellites that will form part of a constellation it hopes will rival SpaceX's Starlink. Known as "Thousand Sails," the constellation is a low-Earth orbit set of more than 15,000 satellites that China has said will create global internet coverage. A Long March 6A carrier rocket took off from the Taiyuan launch center in the northern Shanxi province of China to deliver the initial 18 satellites into space, according to the Chinese Academy of Sciences, which called the mission a complete success. By 2025, China is aiming to deploy 648 satellites in the first phase of the constellation's buildout, in order to create an internet network with global coverage, according to state media CCTV.

Persons: SpaceX's Starlink Organizations: Tuesday, Chinese Academy of Sciences Locations: Hainan province, China, Taiyuan, Shanxi

☆ Markets are rebounding after Monday's massive meltdown, making rate decisions harder for the Fed
▼ + stars: | 2024-08-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewMarkets are rebounding after Monday's meltdown, injecting challenges into central banks' interest-rate decisions. The market volatility is due to a mix of factors including poor earnings results from several tech giants and a weak July payroll report. AdvertisementSome analysts are speculating that the BOJ rate cut was because it was under political pressure to shore up the floundering yen, Bloomberg reported on Monday. Related storiesGoing forward, the BOJ could have a harder time with the timing of its rate hike decisions. Talks of an emergency rate cutThe market selloff has also made the Fed's rate hike timing harder.

Persons: —, Kospi, Taiwan's Taiex, Kyle Rodda, It's, Vishnu Varathan, Mizuho Bank's, Capital.com's Rodda Organizations: Service, Business, Bank of Japan, US Federal Reserve, —, Bloomberg, Nikkei, Japan's, of Finance, Financial Services Agency Locations: Japan, Asia

☆ Bangladesh’s ‘Gen Z revolution’ toppled PM Sheikh Hasina. Why did they hit the streets and what happens now?
▼ + stars: | 2024-08-06 | by ( Helen Regan | ) edition.cnn.com time to read: +11 min

Fires burn outside the Prime Minister's House after Sheikh Hasina resigned and fled the country, on August 5, 2024 in Dhaka, Bangladesh. Protesters shout slogans as they celebrate Prime Minister Sheikh Hasina's resignation in Dhaka. Other student protesters and those arrested on “false cases,” were also released, the president said. K M Asad/AFP/Getty ImagesWhile Hasina’s resignation was celebrated, some Bangladeshis expressed trepidation over the path ahead as the country attempts to fill a leadership vacuum. “Hasina may be gone, but there is still a long road ahead for Bangladesh,” student Faiza Chowdhury, 25, told CNN.

Persons: Sheikh Hasina, Zaman, Muhammad Yunus, Hasina, Minister's, Parvez Ahmad Rony, Sheikh Mujibur Rahman, Hasina’s, Sheikh Hasina's, Mujibur Rahman –, ”, Raiyan Aftab, …, Shaheed, Shaheed Minar, Aftab, Abu Sufian, Mohammed Shahabuddin, Khaleda Zia –, –, Wolfgang Rattay, Z, Sabrina Karim, Karim, “, Mohammad Ponir Hossain, Muhammad Nahid Islam, hadn’t, Yunus, K M Asad, Faiza Chowdhury Organizations: CNN, Bangladesh, Dhaka, Yunus, Dhaka University, Awami League, “, BRAC University, Dhaka Medical College, Dhaka University Campus, Getty, Reuters, curfews, Cornell University Locations: Dhaka, Bangladesh, India, Pakistan, Rajib Dhar, Munich, Germany, UN, Paris, ”, AFP, Bangladeshi, New York

☆ Gen Z might be the luckiest homebuying generation. Here's where they're scooping up homes.
▼ + stars: | 2024-08-06 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

A new SmartAsset analysis found that Gen Z bought homes in 2023 at the fastest rate in the Indianapolis, St. Louis, and Cincinnati metro areas — and the slowest in California and the Northeast. The median property value for these 2,266 new Gen Z homeowners in Indianapolis was $225,000, while the median income was $65,000. Related storiesA slightly lower percentage of Gen Z bought homes in St. Louis last year at just below 1.6% or 2,649 people. Other metro areas seeing higher rates of new Gen Z homeowners included Jacksonville, Virginia Beach, and Kansas City. Intuit Credit Karma found in January that nearly a third of Gen Z adults live with their parents.

Persons: —, homeownership, Z, Louis, Gen Zers, X, Gen, Redfin, Xers, Gen Z, millennials, homebuyers, Karma Organizations: Service, Business, Kansas City, YouTube, Pew Research Center, Intuit, Bank of Locations: Midwest, Indianapolis, St, Cincinnati, —, California, homebuyers, Jacksonville, Virginia Beach, Kansas, Homebuyers, Detroit , Cleveland, Pittsburgh, Texas, San Francisco , New York City, Los Angeles, Boston, San Francisco, Bank of America

According to experts, while it can be costly, new windows can provide significant benefits like lower outside noise and better energy efficiency for the entire home. Wood windows have a traditional look that can be styled with just about any color. “You just need to keep them clean.”The only minor difference between vinyl and wood windows regarding maintenance is sealing and painting. Alexander says that if you have wood windows, they should be sealed or painted if they are exposed to rain or snow. According to experts, a window’s insulating value is called its U-factor, and lower numbers have the best insulation for energy efficiency.

Persons: you’ve, you'll, Wood, casement, ”, Nicholas Alexander, Alexander, isn’t, it’s, “, Casement, Olivia Ott, It’s, Mark Soto, Mark, TikTok Organizations: NBC, Alexander Development Group, Casement, Lowes, Energy Star, Energy, U.S . Environmental Protection Agency, Facebook, Twitter Locations: HOA, Milwaukee , Wisconsin, DIYers

Di Bari is one of thousands of residents attempting to rebuild her home and business amid a flurry of instability. Courtesy Qiana and Michele Di BariToday, many Lahaina residents who lost their homes are still displaced as they scramble from one temporary shelter to another. “The true thing about Lahaina people is you cannot take Lahaina people out of Lahaina,” Nahoo’ikaika said. A man walks past wildfire wreckage in Lahaina, Hawaii, on Aug. 9, 2023. A rainbow is seen from Put Kukui mountain over burned cars and buildings in Lahaina, Hawaii, on Aug. 13, 2023.

Persons: restauranteur Qiana Di, Michele, Di, Qiana Di, Pepe, Michele Di Bari, ”, Jamie Nahoo’ikaika, Sale Pepe, Jaret, Levi, King Kamehameha III, Di Bari, Baris, Nahoo’ikaika, James Tokioka, Tiffany Kidder Winn, Lisa Grove, —, Josh Green, Kalama McEwen, he's, McEwen, Mengshin Lin, Cindy Canham, you’ve, Canham, Whaler’s, Jimmy Carter, she'll Organizations: Di Bari, NBC, FEMA, NBC News, Tourism, Maui, Hawaii Department of Business, Economic, Rural Health Association, The Washington, Getty Locations: Lahaina, Hawaii, restauranteur Qiana Di Bari, Maui, Italian, Di Bari, Paradise , California, Qiana Di Bari, New York, “, Lahaina , Hawaii, Hawaiʻi, ”, Texas, Kihei

☆ Global stock markets are sliding as Japan suffers biggest fall since 1987
▼ + stars: | 2024-08-05 | by ( Huileng Tan | Polly Thompson | ) www.businessinsider.com time to read: +5 min

Read previewJapan's main stock market index suffered its biggest fall since 1987, closing 12.4% lower on Monday, while markets in Asia and Europe also fell sharply. US stock markets sunk at the end of last week as investors digested a streak of negative economic data and disappointing earnings from Big Tech companies. The Chinese stock markets were already under pressure this year due to the country's economic troubles. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation. AdvertisementThe BoJ's rate hike has also fanned further risk-off sentiment in global stock markets.

Persons: —, Tony Sycamore, Taiwan's Taiex, Paris, it's, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Nikkei, Business, Big Tech, Nasdaq, IG Australia, Bloomberg TV, Kospi, CSI, Federal Reserve, Bloomberg, Bank of Japan, ING Locations: Asia, Europe, Frankfurt, London, Japan

☆ Global markets are off to a terrible start this week, and Japan is partly to blame
▼ + stars: | 2024-08-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewGlobal markets are off to a terrible start to the week. Stock markets are crashing across Asia after Japan's interest-rate hike last week contributed to a selloff that got worse and worse. AdvertisementInvestors are also on edge before the US markets open later in the global day. Global carry trade unwindingThe Bank of Japan raised its interest rate from between 0% and 0.1% to 0.25% on Wednesday — the highest level in 15 years. Japan kept interest rates ultra-low for decades following the implosion of an asset bubble in the 1990s that contributed to persistent deflation.

Persons: —, Kospi, India's Sensex, Tony Sycamore, Sycamore, Vishnu Varathan, Mizuho Bank's Organizations: Service, Stock, Business, IG Australia, Bloomberg, CSI, Dow Jones Industrial, Nasdaq, Federal Reserve, Bank of Japan, ING Locations: Asia, Japan

☆ Tech stock sell-off may herald the long-awaited AI reckoning
▼ + stars: | 2024-08-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe tech slide follows a dramatic sell-off in Asia, with Japan's main stock market index, the Nikkei 225, ending 12.4% lower and other AI heavyweights such as SoftBank slid hard. By the end of the year, the company expects to spend up to $40 billion on AI research and product development. That's because AI's been touted as a technology as revolutionary as the internet and smartphones by tech luminaries like Bill Gates. If others really start to believe that's the case, it could mark the beginning of the end for the AI rally.

Persons: —, Jensen, Warren Buffett's Berkshire Hathaway, SoftBank, Sundar Pichai, Susan Li, AI's, Bill Gates, Goldman Sachs, Jim Covello, Daron Acemoglu, it's, Blackwell, Elliott, Dan Ives Organizations: Service, Tech, Business, Nvidia, Apple, Microsoft, Nikkei, Google, Big, Investors, Meta, Elliott Management, Financial Times Locations: Asia

☆ Ford turns 'dirty' business into a profit driver. GM and Stellantis are taking notice
▼ + stars: | 2024-08-05 | by ( Michael Wayland | ) www.cnbc.com time to read: +10 min

Many fleet sales, especially daily rentals, have historically been viewed as a negative for auto companies. But Ford has proven that's not always the case by breaking out financial results for its "Ford Pro" fleet business. Ram, GM retoolAs Ford touts its fleet business, its closest rivals have amped up their operations. It launched "GM Envolve" last year, its overhauled fleet and commercial business focused on fleet sales, digital telematics and logistics for commercial customers. EV goalsGM Envolve includes the company's EV commercial business BrightDrop, which was folded back into the automaker last year instead of it acting as a subsidiary.

Persons: Mark Hazel, It's, Ford, Ferrari, Jim Farley, Wolfe, Joe White, Farley, BofA's John Murphy, Ram, Christine Feuell, Stellantis, Ram Ram, Ken Kayser, Sandor Piszar, Motors, Piszar, EV600 Organizations: Ford DETROIT, U.S, automakers, Ford Motor, General Motors, Chrysler, P Global Mobility, Ford, Ford Pro, Wolfe Research, North, GM, Ford Super Duty, Reuters, GM retool, CNBC, Software, Stellantis, GM Envolve, Sierra, GM Fleet, EV Locations: Dearborn , Michigan, U.S, North America, Europe, Kentucky, Louisville , Kentucky, Stellantis, Detroit

The League 42 youth baseball league plans to unveil a replacement statue of Robinson crafted from the original mold Monday at a park in Wichita, Kansas. The city was shocked when the statue was cut from its base in January, leaving only the statue’s feet behind. He was sentenced to 18 months and ordered to pay $41,500 restitution for stealing the statue. The bronze cleats that were left behind when the original statue was stolen are now on display at the Negro Leagues Baseball Museum in Kansas City, Missouri. The cleat remains of the bronze Jackie Robinson statue in Wichita, Kan., Jan. 25, 2024.

Persons: Jackie Robinson, Ricky Alderete, Robinson, Kan, Mel Gregory, Alderete, “, ”, I’m, Joe Torre, Cy Young, Travis Heying Organizations: League, Brooklyn Dodgers, Firefighters, Major League Baseball, Former New York Yankees, Sabathia, Negro Leagues Baseball Museum, Wichita Eagle, Kansas City Monarchs, Negro Leagues Locations: Kan, Kansas, Wichita , Kansas, Wichita, Kansas City , Missouri

☆ A little-known law has forced over 120,000 veterans to return the money they got to leave the military, new data shows
▼ + stars: | 2024-08-02 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | Melissa Chan | ) www.nbcnews.com time to read: +10 min

He said the VA is legally bound to recover special separation benefits from veterans before those eligible can begin receiving disability payments. The VA had to recoup separation pay from 8,130 veterans in fiscal year 2020 and 8,550 in 2021. In 2021, the Veterans Benefits Administration began scanning all veterans’ service and medical records into electronic files, which “reduces the likelihood of this situation reoccurring,” Hayes said. Unique exceptions to the lawVeterans have a chance to pursue a waiver of their recoupment responsibilities for only certain special separation benefits under the law. In 2023, the Navy authorized reducing the amount of disability pay that is withheld while voluntary separation pay is recouped, Navy spokesperson Charlie Spirtos said.

Persons: “, ”, Vernon Reffitt, recoupments, Terrence Hayes, Shawn Teller, Teller, ” Teller, “ It’s, Reffitt, ‘, Hayes, ” Hayes, Erika Yepsen, Yepsen, recoupment, ” Yepsen, Charlie Spirtos, Marquis Barefield, ” Barefield, Ruben Gallego Organizations: NBC News, Army, U.S . Department of Veterans Affairs, NBC, “, VA, Veterans, Administration, The Air Force, Air Force, Air Force, Navy, Marine Corps, Coast Guard, DAV, American Veterans, ” Veterans, recoupment, RAND Corporation Locations: U.S, Storm, Walnut Creek , California, Twin City , Georgia, United States

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