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☆ The hollowing out of Vice and BuzzFeed marks the end of the digital media revolution
▼ + stars: | 2024-02-23 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —The digital media revolution is over. Its two leaders, Vice Media and BuzzFeed , are in a frenetic retreat, surrendering much of their online empires as they try to protect what remains of their core assets. The demise of Vice Media as we know it is a particularly hard pill to swallow. Ahead of the announcement, the mood inside Vice Media was grim. Dixon said in his note that Vice Media had determined it was “no longer cost-effective” for the company to distribute its digital content on its own.

Persons: “, ”, they’re, I’m, Bruce Dixon, Benjamin Mullin, Dixon, Shane Smith Organizations: New York CNN, Vice Media, Media, Big Tech titans, Fortress Investment, Sports Locations: New York

☆ Vice to lay off hundreds of staffers, stop publishing content on its website
▼ + stars: | 2024-02-22 | by ( Oliver Darcy | ) edition.cnn.com time to read: +3 min

Ahead of the announcement Thursday, the mood inside Vice Media was grim. Vice Media, once a high-flying digital media startup valued at billions of dollars, has struggled immensely in recent years. The radical strategic shift announced by Dixon effectively marked the end of Vice Media as the industry has known it. Once held up as the future of the business, Vice Media has rapidly contracted over the last 12 months, ending several news programs and laying off staffers. Vice Media joins a long list of digital publishers that have announced painful layoffs in recent months.

Persons: Bruce Dixon, ” Dixon, Dixon, ”, Shane Smith, Nancy Dubuc, BuzzFeed Organizations: CNN —, Media, CNN, Vice Media, Fortress Investment Group, “ Locations: “

☆ Vice’s New Owners Prepare to Slash What’s Left of Its Work Force
▼ + stars: | 2024-02-22 | by ( Benjamin Mullin | More About Benjamin Mullin | ) www.nytimes.com time to read: +1 min

Executives at Vice Media are planning to lay off hundreds of more than 900 employees over the next week, eliminating staff from its digital publishing division, according to three people familiar with the matter. Over the past half-decade, Vice has had near annual layoffs and mounting losses, and has filed for bankruptcy, making it the poster child for the battered digital-media industry. When Vice emerged from bankruptcy last year, some observers hoped its new owners — a consortium led by the private-equity firm Fortress Investment Group — would reinvest to return the company to growth. Instead, Fortress has decided to make sweeping cuts, as part of an attempt to stem the endless tide of red ink. The company is planning to inform employees of its new business strategy in the next week.

Organizations: Vice Media, Fortress Investment, Fortress

☆ Vice Media will stop publishing on its website and lay off hundreds. Read the memo its CEO sent to staff.
▼ + stars: | 2024-02-22 | by ( Lucia Moses | ) www.businessinsider.com time to read: +4 min

Read previewVice Media is in the process of shutting down its website and shifting focus to its studio, which will involve laying off hundreds, CEO Bruce Dixon wrote in a staff memo Thursday. Vice is also in the process of selling the woman-aimed site Refinery.com, which it acquired in 2019, Dixon wrote. In addition to its flagship Vice.com, Vice Media operates Vice Studios, a film and TV production business; and ad agency Virtue. However, it is no longer cost-effective for us to distribute our digital content the way we have done previously. Separately, Refinery 29 will continue to operate as a standalone diversified digital publishing business, creating engaging, social first content.

Persons: —, Bruce Dixon, Dixon, Vice.com, Shane Smith, Bruce Organizations: Service, Business, Fortress Investment, Vice Media, Vice Studios, Employees

☆ Artist Uman creates kaleidoscopic worlds on canvas
▼ + stars: | 2024-02-18 | by ( Suyin Haynes | ) edition.cnn.com time to read: +5 min

“I’m more of a fan of the destination,” the artist said, smiling behind sunglasses on a cloudy afternoon in London. Uman Joe PerezIt’s her studio — “my fortress,” as she calls it — where she feels most at home, happiest and freest. This sense of freedom is conveyed in Uman’s latest work, currently on display at Hauser & Wirth gallery in London. Uman Courtesy the artist/Hauser & Wirth/Nicola Vassell GalleryIn a way, each work in the show also extends beyond its own canvas, as Uman worked on several artworks simultaneously during the second half of 2023. “The mirrors came from nostalgia,” says Uman, who recalls growing up celebrating Eid wearing garments embellished with circular mirrors.

Persons: she’s, “, ”, Uman Joe Perez It’s, Hauser, Nicola Vassell, I’m, I’ve Organizations: CNN, Uman, Hauser & Wirth, Wirth, “, Art Basel Miami, Aldrich Contemporary Art Museum Locations: Uman, London, Somalia, Somali, Denmark, New York City, ”, New York, Kenya, ” Uman, Connecticut, Nairobi

☆ Morgan Stanley ponders if Eli Lilly could be the first $1 trillion pharma stock on weight loss boom
▼ + stars: | 2024-02-16 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +3 min

On Friday, Flynn raised his price target on Lilly shares to $950 from $805. With Lilly's stock closing Thursday at $757.78, the target suggests 25% more upside ahead. LLY 1Y mountain Eli Lilly shares over the past year. "LLY is establishing high barriers to entry in the diabesity market," Flynn said, adding that this is what contributes to its higher valuation. Phase 3 data is expected on orforglipron in 2025, which Flynn sees as a catalyst for the stock to go higher.

Persons: Eli Lilly, Morgan Stanley, Terence Flynn, Flynn, Lilly, Mounjaro, — CNBC's Michael Bloom Organizations: Novo Nordisk Locations: diabesity

☆ The Labor Movement Hasn’t Taken Off. A New Book Explains Why.
▼ + stars: | 2024-02-13 | by ( Willa Glickman | ) www.nytimes.com time to read: +2 min

As Nolan writes in “The Hammer,” his lively account of the current landscape of American labor organizing, “It was reminiscent of Dr. Evil in ‘Austin Powers’ demanding as his ransom request for the entire world, ‘One million dollars!’”Nolan’s book joins the ranks of Steven Greenhouse’s “Beaten Down, Worked Up” and Jane McAlevey’s “A Collective Bargain” in making a rousing case for a robust labor movement. “The Hammer” aims to show that unions are the best way to combat economic inequality, give disenfranchised people genuine political power and counter the allure of the far right among the working class. What would such an announcement look like? “Perhaps every worker will emerge from the office and fire guns in the air,” Nolan muses, “until the smoke wafts over A.F.L.-C.I.O.

Persons: Hamilton Nolan, Liz Shuler, Nolan, “, Dr, ‘ Austin Powers, Steven Greenhouse’s “, Jane McAlevey’s “, Rich Yeselson, ” Nolan, ” Organizations: Labor, Gawker Locations: United States, Philadelphia, “, A.F.L

☆ Expecting more sell-offs? These low-volatility fortresses can defend your portfolio and grow
▼ + stars: | 2024-02-13 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Tuesday's inflation data sent the broader market reeling, making stable stocks more attractive for investors worried about further losses. Because of this, CNBC Pro screened for low-volatility, fortress-like names that can perform well if the drawdown continues. She pointed to growth of a media business as something that could help Costco win market share and create a better margin profile. While more than three out of every five analysts polled by FactSet has a buy rating on the stock, the typical price target reflects shares pulling back by 1.5%. The average price target reflects the likelihood for more rallying ahead with an upside of nearly 15%.

Persons: Strong, Berkshire Hathaway, Warren Buffett, Tesla, Richard Galanti, Gary Millerchip, Goldman Sachs, Kate McShane, McShane, FactSet, Ben Reitzes Organizations: Federal Reserve, Treasury, CNBC Pro, Berkshire, Berkshire Hathaway, Costco, Kroger, Microsoft, Big Technology, Melius

☆ Si Spiegel, War Hero Who Modernized Christmas Trees, Dies at 99
▼ + stars: | 2024-02-08 | by ( Sam Roberts | ) www.nytimes.com time to read: 1 min

Before he became known as the father of artificial Christmas trees, Si Spiegel was a valiant Army aviator. In the closing days of World War II, he was piloting his B-17 Flying Fortress in an armada of 1,500 Allied bombers that pummeled Berlin. Struck by antiaircraft flak, two of the plane’s four engines lost power as Mr. Spiegel reversed course to return to England. Rather than bail out over Germany and risk being captured as a prisoner of war — especially given that he was Jewish — Mr. Spiegel managed to crash-land in Soviet-occupied Poland. After being stuck there for weeks, he improvised a daring escape, using parts of his own plane to jury-rig another B-17 that had crashed nearby, then flying to an American base in Italy.

Persons: Si Spiegel, Spiegel Locations: Berlin, England, Germany, Soviet, Poland, Italy

☆ Explainer-Why Does Russia Want to Capture Ukraine's Avdiivka?
▼ + stars: | 2024-02-06 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +4 min

By Dan Peleschuk and Andrew OsbornKYIV/LONDON (Reuters) - Russian forces are intensifying efforts to seize the eastern Ukrainian city of Avdiivka as Moscow's war in Ukraine grinds on. Russian war bloggers, whom the Kremlin has brought under tight control, have acknowledged heavy Russian losses but alleged significant Ukrainian losses too. They say Kyiv's forces can be encircled if Russian forces can cut their last main supply line to the west. Avdiivka is seen as a gateway to Donetsk city, whose residential areas Russian officials say have been shelled by Ukrainian forces, sometimes from Avdiivka. Seizing it could boost Russian morale and demoralise Ukrainian forces, which have made only incremental gains in a broad counteroffensive since June.

Persons: Dan Peleschuk, Andrew Osborn, Avdiivka, Vladimir Putin, Volodymyr Zelenskiy, Sergei Markov, Mykola Bielieskov, Bielieskov, Mike Collett, White, Timothy Heritage Organizations: LONDON, Mechanized Brigade, Radio Liberty, Kremlin, National Institute for Strategic Studies, Kyiv Locations: Ukrainian, Avdiivka, Ukraine, Bakhmut, Russia, Moscow, Russian, Donetsk, Luhansk, Avdeyevka, Kyiv, Kremlin

“It breathed new life into Trump.”RISKY BETS THAT PAID OFFFrom the start, Trump president acted like the front-runner, declining invitations to multicandidate events and refusing to debate. “You've got to give credit to the Trump campaign,” said Saltsman, who chaired the 2024 campaign of Mike Pence, who was Trump's vice president. Beyond the endorsements, Trump's team also worked closely with state parties as they set delegate allocation rules, encouraging winner-take-all contests and other changes that would ultimately benefit a front-runner. THE LOYALTY FACTORAs the first nominating contests neared, Trump's team worked to harness the dedication of his loyal supporters. Trump’s team rewarded its volunteers with perks such as VIP tickets to his rallies and gold-embroidered hats.

Persons: Donald Trump, Trump, Nikki Haley, Democrat Joe Biden, Chip Saltsman, ”, Chris LaCivita, Biden, Ralph Reed, “, Reed, Trump's, Joe Biden, Jason Miller, Michael Telesca, you’ve, ” LaCivita, Ron DeSantis, winnable, DeSantis, Trump’s, DeSanctimonious, Taylor Budowich, MAGA, “ MAGA, ” Budowich, “ DeSantis, Gary Leffler, Leffler, Kevin McCarthy, Liz Cheney, McCarthy, Mike DuHaime, Chris Christie, “ You've, Saltsman, Mike Pence, " Miller, Brian Jack, Haley, Marc Short, ‘, LaCivita, John Goodrich, Goodrich, Hannah Fingerhut Organizations: White, U.S . Capitol, Trump, Republican, Nevada’s Republican, GOP, Democrat, Biden didn't, & Freedom Coalition, Trump's, Democratic, Biden’s Justice, Republican Party, Inc, Security, PAC, CNN, “ MAGA Inc’s, U.S . House, Mar, Former U.S . Rep, New, New Jersey Gov, Biden, South, Associated Press Locations: NASHUA, N.H, Washington, Iowa, New Hampshire, New York, East Palestine , Ohio, East Palestine, Lago, Florida, U.S, Georgia, Hickory , North Carolina, West Des Moines , Iowa, New Jersey, Europe, South Carolina, Des Moines, Des Moines , Iowa

With only towels around their waists, patrons aboard a floating sauna in a Norwegian fjord rescued two people whose car had plunged into the water. A witness told the Norwegian VG newspaper that he saw the car stopped, before it suddenly accelerated and ended up in the water. The paper reported that the driver had thought the vehicle was in park when he hit the accelerator pedal. As the car went down, the two occupants escaped and were on the roof of the vehicle as the sauna raft headed toward them. Photos You Should See View All 45 ImagesNicholay Nordahl, the skipper, told VG that “I gave full throttle toward the people who came climbing out of the car” and reached them just as the car went under.

Organizations: Norwegian VG Locations: COPENHAGEN, Denmark, Norwegian, Oslo

☆ Meet the JPMorgan executive emerging as a dark horse to succeed Jamie Dimon
▼ + stars: | 2024-01-31 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +9 min

Read previewA longtime JPMorgan executive who has kept a low public profile while cultivating a reputation as a successful trader with a talent for managing risk is emerging as a contender to succeed Jamie Dimon as chief executive. His new position through the internal shuffle has vaulted him more publicly and prominently into the most closely watched succession race on Wall Street. JPMorgan executive David Hudson told the publication that he returned to JPMorgan after working at Nomura in 2010 "to work for Troy." Rohrbaugh's other stops at JPMorgan have been head of global markets and head of macro markets. A senior JPMorgan executive who works with Rohrbaugh recalled that time during the pandemic.

Persons: —, Jamie Dimon, Dimon, Troy Rohrbaugh, Jennifer Piepszak, Wall, Marianne Lake, Rohrbaugh, Goldman Sachs, Euromoney, Eddie Wen, David Hudson, He's, Gary Gensler's, Goldman, Cantor Fitzgerald, Tim Soulas, Cantor, Johns Hopkins, you've, he'll, Kaja Whitehouse, Alex Morrell Organizations: Service, JPMorgan, Wall, Business, CIB, North America, Goldman, Nomura, Troy, Federal Reserve Bank of New, Global, Securities, Exchange, Banque Nationale, CooperNeff, Philadelphia Stock Exchange, World Trade Center, New York Daily News, Gilman School, Johns Hopkins University, Alpha Delta Phi, Baltimore Sun, Bloomberg Locations: Dimon, North, JPMorgan's, Canadian, Manhattan, Baltimore, Maryland, New York

☆ Fortress’s Drew McKnight and Oaktree’s Armen Panossian on private credit in 2024
▼ + stars: | 2024-01-30 | 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 EmailFortress’s Drew McKnight and Oaktree’s Armen Panossian on private credit in 2024Drew McKnight, Co-CEO and managing partner of Fortress; Armen Panossian, incoming Co-CEO of Oaktree, join\ 'Fast Money' to talk private credit, the Federal Reserve, macro trends their watching and more.

Persons: Fortress’s Drew McKnight, Oaktree’s Armen Panossian, Drew McKnight, Armen Panossian Organizations: Oaktree, Federal Reserve

☆ The best things to experience in Saudi Arabia according to the people who know it
▼ + stars: | 2024-01-26 | by ( Selina Julien | ) edition.cnn.com time to read: +10 min

CNN —Closed to tourists until recently, Saudi Arabia is still an unknown quantity for many would-be travelers. Omran is also hopeful visitors will explore destinations across Saudi Arabia. Saudi Tourism Authority“You can’t talk about islands in Saudi Arabia without talking about a new tourist favorite, but a treasured local one, Al Nawras Island,” Saudi professional boxer Ziyad Almaayouf tells CNN. “What I love most about Al Nawras Island, isn’t the island itself, but the waters surrounding it,” he adds. The resort on the Red Sea coast is often promoted as “the Maldives of Saudi Arabia,” offering water sports and cultural experiences.

Persons: Lojain Omran, Omran, ”, Al Balad, Mai Eldib, Hajj, ” Eldib, Jeddah’s, “ It’s, ” Al, Ziyad Almaayouf, ” Ziyad, Ziyad, “, Mishaal Ashemimry, Mishaal, Tamtam, Reem Altamimi, Al Zal, Ba’a, Hatem Alakeel, Authenticite, “ Diriyah, Umluj, ” Tasneem Organizations: CNN, Netflix’s, Saudi Tourism Authority, MISHAAL Aerospace, Abaca, Saudi Locations: Saudi Arabia, Saudi, Netflix’s UAE, Al Balad, Al, Jeddah, Mai, ” Al Nawras, Nawras, Al Nawras, California, “, Unaizah, Riyadh, ”, Souk Al Zal Souk Al Zal, USA Riyadh, Al Zal, Riyadh’s Al Dirah, Los Angeles, Maldives

☆ Berkshire Hathaway is trading at record highs, and UBS thinks it can rise another 15%
▼ + stars: | 2024-01-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway shares reached a fresh all-time high to start off a strong 2024, and one analyst thinks the conglomerate's stock is still attractively priced and sees double digit upside. UBS analyst Brian Meredith hiked his 12-month price target for Berkshire's Class B shares to $435 from $410 previously. Secondly, the UBS analyst said Berkshire's array of different businesses remains strong. In insurance, UBS expects profit margins to improve at auto insurer Geico this year, while Berkshire Hathaway Reinsurance Group is expected to see strong growth in premiums and improved profitability. Lastly, UBS noted that Berkshire has historically benefited, on a relative basis, from an economic slowdown.

Persons: Brian Meredith, Warren, Meredith, Buffett Organizations: Berkshire Hathaway, UBS, Berkshire, BRK's Insurance, Insurance, BNSF Railway Co Locations: Berkshire, repurchases, buybacks . Berkshire, U.S, Omaha

☆ The best islands in Europe for getting away from almost everyone
▼ + stars: | 2024-01-19 | by ( Terry Ward | ) edition.cnn.com time to read: +12 min

Here are some of the best islands in Europe for getting away from almost everyone:Schiermonnikoog, the NetherlandsThe Netherlands is better known for canals, dikes and tropical Dutch Caribbean Islands like Bonaire and Curaçao than the sandspun isles along the country’s North Sea coast. Flores Island, Azores, PortugalWaterfalls trickle down an imposing rock face on the island Flores in the Azores. aroxopt/Adobe StockOne of the most remote islands in an already remote archipelago, Flores Island in the westernmost stretches of the Azores is a nature lover’s dream. To say there’s room to stretch out and breathe on these Baltic Sea islands is an understatement. The best islands in Europe for getting away from almost everyoneHavsVidden offers a secluded escape on northern Fasta Åland with villas with their own saunas overlooking the rocky shoreline.

Persons: Annemarieke Romeijn, ”, Eyrún, Gabriela Silva, Flores, Rocha dos Bordões, Santa Cruz das Flores, Randi Skaug, “, Torunn Tronsvang, Richard Kellett, Luis Fonseca, iStockphoto, São João Baptista, Berlengas, Arlindo Serrao, Mola mola, Francesco Curione, Lent, Skyros, revelry, – it’s, Drake, Åland Organizations: CNN, Adobe, Heimaey, puffin, Norway Visitors, Intrepid, UNESCO, Visitors Locations: Europe, Ibiza, Netherlands, Caribbean, Bonaire, Curaçao, West Frisian, Wadden, Schier, Lauwersoog, Vestmannaeyjar, Iceland, Heimaey, Westman, Hotel Ranga, gannet, fulmar, Flores Island, Azores, Portugal, Flores, Santa Cruz, Naustholmen, Norway, Bodø, Northern Norway, Norwegian, Lofoten, ”, Tiree, Scotland, Hawaii, Scottish, Oban, Glasgow, Loganair, Berlengas, Peniche, São, Grande, Alicudi, Sicily, Italy, Taormina, Skyros, Greece, Mykonos, Rathlin, Northern Ireland, Ballycastle, Åland, Finland, Bothnia, Sweden

☆ A Moonshot Plan to Fill a Cavernous, Dilapidated Armory in the Bronx
▼ + stars: | 2024-01-19 | by ( Stefanos Chen | Winnie Hu | ) www.nytimes.com time to read: +1 min

It has been called the world’s largest armory — a palatial fortress in the middle of the northwest Bronx, with turrets overlooking the subway station. But for nearly 30 years, the Kingsbridge Armory has languished despite grand plans by mega-developers, billionaire investors and celebrities to repurpose the 570,000-square-foot landmark. It hopes to bring high-tech manufacturing jobs, a live performance space, new businesses and affordable housing to the city-owned site. The proposed development, if selected by city officials, would be led by the Northwest Bronx Community and Clergy Coalition, an influential nonprofit group that has fought for racial justice, affordable housing and economic development in the city’s poorest borough since 1974. The plan grew out of years of frustration among community leaders and residents who were tired of being sidelined in previous plans for the armory.

Organizations: Kingsbridge Armory, Northwest Bronx Community, Clergy Coalition Locations: Bronx, Kingsbridge

☆ New Fortress Energy CEO on U.S. natural gas exports, hydrogen and renewable energy projects
▼ + stars: | 2024-01-19 | 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 EmailNew Fortress Energy CEO on U.S. natural gas exports, hydrogen and renewable energy projectsWes Edens, New Fortress Energy CEO, joins 'Closing Bell' to discuss U.S. natural gas exports, hydrogen projects, and Brightline rail expansion.

Persons: Wes Edens Organizations: Fortress Energy, New Fortress Energy

☆ Jamie Dimon gets $36 million in compensation after historic year for JPMorgan
▼ + stars: | 2024-01-18 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +2 min

The bank's board increased CEO Jamie Dimon's pay by 4% to $36 million. So it's probably not surprising that its longtime CEO, Jamie Dimon, is getting a raise from the bank's board, a 4% bump, to $36 million, for 2023. The bank disclosed Dimon's compensation in a securities filing on Thursday. His pay consists of an annual base salary of $1.5 million, $5 million in cash, and $29.5 million in performance share units, according to the filing. Dimon's compensation was $34.5 million for both 2022 and 2021.

Persons: JPMorgan Chase, Jamie Dimon's, —, it's, Jamie Dimon, Mike Mayo, Dimon Organizations: JPMorgan, Service, JPMorgan Chase, First, CNBC Locations: First Republic, Wells Fargo, Wall

One tunnel in Gaza was wide enough for a top Hamas official to drive a car inside. Under the house of a senior Hamas commander, the Israeli military found a spiral staircase leading to a tunnel approximately seven stories deep. These details and new information about the tunnels, some made public by the Israeli military and documented by video and photographs, underscore why the tunnels were considered a major threat to the Israeli military in Gaza even before the war started. Even some of the machinery that Hamas used to build the tunnels, observed in captured videos, has surprised the Israeli military. The Israeli military now believes there are far more tunnels under Gaza.

Organizations: Senior Locations: Gaza

☆ Heading to Davos, here's what was overheard on connecting trains from Zurich to the World Economic Forum
▼ + stars: | 2024-01-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

The small Swiss Alpine town is again playing host to the World Economic Forum (WEF), where the world's top brass in finance and politics convene each year to try to solve the biggest problems that plague our planet. But the long and winding road to Davos offers another lesser-known benefit, which makes the lengthier commute well worth the while. Here's what was overheard on the connecting trains from Zurich Airport to Davos Platz. OpenAI's media representative declined CNBC's request to interview Altman in Davos, citing a "tight" schedule. One Davos attendee noted their company was in the IP space and had just raised this summer, because "the rights issue is so complicated."

Persons: MacKenzie, OpenAI, Sam Altman, Davos MacKenzie Sigalos, Altman, Marc Benioff, Albert Bourla, reminisced, Sting Organizations: Volvo, Economic, Zurich Airport, Davos Platz, Swiss National Railway, Microsoft, Pfizer, The New York Times, Switzerland Cantonal Police, Disney, Landquart Locations: DAVOS, Switzerland, Manhattan, Scalettastrasse, Davos, Swiss, Zürich, Zurich, Zürich Hauptbahnhof, Saudi Arabia, Grisons, Brazil

☆ China could take inspiration from Vladimir Putin as it seeks to conquer Taiwan
▼ + stars: | 2024-01-11 | by ( Gregor Schwung | ) www.businessinsider.com time to read: +8 min

Read previewOn the beach of the Taiwanese island of Kinmen, pointed metal rods protrude from the ground and point towards the sea. To test Western resolve, China could first grab one of the offshore islands - just as Putin initially seized Crimea. After all, the only previous hostilities between Taiwan and China took place here - Beijing tried to conquer Kinmen in 1960 and 1970. To take Taiwan, China does not need Kinmen or the other offshore islands as a springboard. Due to its proximity to the mainland, Chinese military activities and any preparations for an invasion can be easily observed from here.

Persons: —, Gregor Schwung, Xi Jinping, Putin, Xi, Sun Tzu, Li Wen, Jing, Li, Vladimir Putin, Yao, Yuan Yeh Organizations: Service, Business, Congress, Kinmen, dicey coastguard, People's Liberation Army, Institute for National Defence and Security Research, Ministry of Defence, WELT, New, Security, Beijing, Communist Party, St Thomas University, Policy Locations: Kinmen, China, Xiamen, Taiwan, Taipei, Pratas, People's Republic, Crimea, Washington, Beijing, Ukraine, Taiwan's, Houston

☆ Cramer's Lightning Round: Crocs is 'too dicey'
▼ + stars: | 2023-12-05 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Weyerhaeuser's year-to-date stock performance. Stock Chart Icon Stock chart icon RadNet's year-to-date stock performance. Stock Chart Icon Stock chart icon Stellantis' year-to-date stock performance. Stock Chart Icon Stock chart icon Crocs' year-to-date stock performance. Stock Chart Icon Stock chart icon Masimo's year-to-date stock performance.

Persons: Wes Edens, NextEra, Berger, Stellantis, Crocs, I'm Organizations: Weyerhaeuser, Theft, New Fortress Energy, NextEra, American Electric Power, Apple Locations: Palo Alto

☆ Apple's market cap closes above $3 trillion
▼ + stars: | 2023-12-05 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple CEO Tim Cook greets customers purchasing Apple’s new iPhone 15 during a launch event at the Fifth Avenue Apple Store in New York City on Sept. 22, 2023. Apple's market cap closed at about $3 trillion for the first time since August after its shares climbed 2% to $193.42 per share on Tuesday. Apple's value officially crossed the $3 trillion mark for the first time in June, and briefly touched $3 trillion in December 2022 during intraday trading. Apple stock hit its all-time high July 31 and it remains the most valuable publicly traded U.S. company. In Apple's fiscal 2023, which started in October, Apple reported $383.29 billion in total revenue, down about 3% from the prior year.

Persons: Tim Cook, Apple Organizations: Apple, Fifth, U.S, Apple Watch, CNBC PRO Locations: New York City, buybacks, China

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