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☆ Nongfu Spring: Bottled water empire of China’s richest man Zhong Shanshan is facing a boycott by nationalists
▼ + stars: | 2024-03-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.

Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, —, “ Zhong Shuzi, ”, “, He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, ”, Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan

☆ Who is Jeff Yass? The billionaire donor with investments in TikTok’s parent company
▼ + stars: | 2024-03-12 | by ( Kalhan Rosenblatt | ) www.cnbc.com time to read: +3 min

Yass co-founded the Philadelphia-based trading firm Susquehanna International Group, which owns a 15% stake in TikTok's China-based parent company, ByteDance. Yass' investment is under threat today, and the typically press-shy billionaire is taking fire from both the left and the right. "This would be a nightmare for Yass, given the major investment in TikTok, if a forced ban hit the company under the Biden administration," Ives said. Today, at least 150 million Americans use TikTok regularly, according to company data. The company has said it stores U.S. users' data securely and rejects the idea that it poses a threat to national security.

Persons: Jeff Yass, Yass, Donald Trump, ByteDance, Joe Biden, Dan Ives, Biden, Ives, TikTok, Chip Roy, Shou Zi Chew Organizations: Susquehanna International Group, TikTok, Wedbush Securities, Susquehanna, NBC, Capitol Locations: TikTok, Washington, Yass, Philadelphia, TikTok's China, bankrolling, ByteDance, Beijing, Texas

☆ He was once hailed as the pride of China. Now nationalists are coming for this Nobel laureate
▼ + stars: | 2024-03-11 | by ( Nectar Gan | ) edition.cnn.com time to read: +9 min

Now, some of China’s most zealous online nationalists have a new target in their crosshairs: the country’s first officially recognized Nobel laureate. Mo Yan receives the 2012 Nobel Literature Prize from King Carl Gustaf of Sweden during an award ceremony on December 10, 2012 in Stockholm. He accused Wu of creating a publicity stunt by “maliciously framing” the Nobel laureate and taking his words out of context. In 2011, he was named the vice chairman of the state-run Chinese Writers Association – an appointment that could not have been made without the blessing of the party. In 2022, Sima Nan, a nationalist pundit known for his inflammatory criticism of the United States, famously accused Mo’s Nobel win of being a Western effort to smear China.

Persons: Hong Kong CNN — They’ve, Mo Yan, Xi Jinping, Xi, Wu Wanzheng, Mao Xinghuo, Wu, Guan Moye, –, Mo, King Carl Gustaf of Sweden, Jonathan Nackstrand, ” Zhang Yongsheng, Hu Xijin, Hu, ”, Murong Xuecun, “ Xi, Mao, Writers Association –, Liu Xiaobo, Liu, caricaturize, “, doesn’t, Sima Nan, Mo’s Nobel, ” Murong Organizations: Hong Kong CNN, Communist Party, Communist, Getty, Red Guards, Tongji University, Global Times, Writers Association, Chinese Writers Association Locations: China, Hong Kong, Mo, Weibo, Stockholm, AFP, Shanghai, Beijing, Shandong, United States

☆ Ryan Gosling Delivers a ‘Just Ken’ Spectacle at the Oscars
▼ + stars: | 2024-03-10 | by ( Esther Zuckerman | ) www.nytimes.com time to read: +1 min

In one of the most anticipated and surely one of the most exuberant moments of Oscar night, Ryan Gosling took the stage to perform “I’m Just Ken,” the nominated song from “Barbie” by Mark Ronson and Andrew Wyatt. Wearing a sparkling pink suit and a cowboy hat, Gosling started out in the audience serenading his “Barbie” co-star Margot Robbie, who couldn’t contain her giggles. He then took the stage surrounded by an army of besuited Ken dancers, including fellow movie Kens Simu Liu, Kingsley Ben-Adir, Ncuti Gatwa and Scott Evans. Mark Ronson joined him onstage but Slash of Guns N’ Roses did the true shredding, showing up midway through for a cameo. His early routines, including one in which he wears “Hammer pants,” have received tens of millions of views online.

Persons: Oscar, Ryan Gosling, Ken, ”, “ Barbie ”, Mark Ronson, Andrew Wyatt, Gosling, Barbie ”, Margot Robbie, Liu, Kingsley Ben, Ncuti Gatwa, Scott Evans, Robbie, Greta Gerwig, “ Barbie, America Ferrera, Emma Stone, Stone, Ronson, Barbie, Britney Spears, Christina Aguilera, Justin Timberlake Organizations: Mouse, Disney Locations: “ La La

“What we are in now is a production war,” a senior NATO official told CNN. “The number one issue that we’re watching right now is the munitions,” the NATO official said. There is also a limit to Russian production capacity, officials say: Russian factories will likely hit a peak sometime in the next year. “If we were talking about this last fall, we would have talked about how they were targeting critical infrastructure,” the NATO official said. “In the short term — say, the next 18 months or so — it may be unsophisticated, but it’s a durable economy,” the NATO official said.

Persons: ”, Abrams, “, — “, Joe Biden, Inna Varenytsia, it’s, Putin’s, Steven Basham, “ It’s, Maxym, Russia’s ‘, Basham Organizations: CNN, Army, NATO, ”, Reuters, Ukraine, European Command, US Army, ” Intelligence, US European Command, Pentagon Locations: Russia, Europe, Ukraine, Kyiv, Ukrainian, Avdiivka, that’s, Iran, North Korea, Kreminna, Germany, Pennsylvania , Iowa, Texas, Moscow, Tehran, Bohorodychne, Donetsk, Russian

☆ Israel Hamas War: Latest Updates
▼ + stars: | 2024-03-09 | by ( Victoria Kim | ) www.nytimes.com time to read: +4 min

Distribution of humanitarian aid from the United Nations Relief and Works Agency, or UNRWA, in Rafah, Gaza, earlier this week. But aid workers say that the maritime project is not ambitious enough to alleviate the humanitarian disaster unfolding as Israel continues to bombard the Gaza Strip. The floating pier, General Ryder said, would be built and assembled alongside an Army ship off the Gaza coast. Israeli officials have denied they are hampering the flow of aid, saying the United Nations and aid groups are responsible for any backlogs. “We want to see the amount of aid going via land increase significantly,” General Ryder said.

Persons: Biden, Biden’s, Pat Ryder, General Ryder, Sigrid Kaag, “, Israel, ” General Ryder, “ We’re, ” Organizations: United Nations Relief, Works Agency, Pentagon, U.S ., 7th Transportation Brigade, Base, Army, Defense, U.S . Army, . Security Council, Israel ., United Nations, ” Locations: Rafah, Gaza, Eustis, Va, Norfolk, Egypt, Kerem, Israel, United, U.S, ”

☆ Opinion | Flau’jae and Wyclef Jean Are Rapping About Personal Finance. Good.
▼ + stars: | 2024-03-08 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Flau’jae, the 20-year-old star of basketball and hip-hop, does not manage $1.3 trillion in assets for clients. She also does not have an army of financial advisers and economists at her disposal. Listen to “Paper Right,” a recently released hip-hop track recorded by Wyclef Jean, a founding member of the Fugees, with guest appearances by artists including Flau’jae, Pusha T, Lola Brooke and Capella Grey. I wrote on Monday about a program that teaches math through personal finance and personal finance through math. You have to keep your eyes on the prize — and to know that there’s a prize you should want in the first place.

Persons: ”, Wyclef Jean, Pusha, Lola Brooke, Capella Grey, TIAA’s, there’s, Jean Organizations: Teachers Insurance

☆ 3 theories to explain Trump's TikTok flip-flop
▼ + stars: | 2024-03-08 | by ( Peter Kafka | ) www.businessinsider.com time to read: +6 min

For instance: In 2020, when he was president, Trump said he wanted to ban TikTok from the US. While we are here, let's be even-handed, and note that Trump is not the only politician who has inconsistent and contradictory approaches to TikTok. So that's a lot of TikTok Ban news to consume over a short period. But I'm still sticking with the argument I made Thursday:It's easy to vote for a TikTok ban if you don't really think it's going to result in a TikTok ban. But it's a lot harder to actually ban TikTok for real — particularly during a very close presidential campaign, where the risk of blowback from angry users is a real thing.

Persons: —, Donald Trump, Trump, Jeff Yass, — we're, Republican Sen, Rand Paul, Paul, Biden, — Rand Paul, I'm, …, TikTok, let's, Joe Biden, ByteDance Organizations: Service, Facebook, Business, Club, Growth, Trump, Republican, Texas, Project Texas, GOP, Street Locations: Yass, Project, China

☆ Inside hedge funds' big Lincoln Center bash: caviar, acrobats, and a professed love for New York 'even if we move to Florida'
▼ + stars: | 2024-03-07 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

The alternatives industry's annual fundraiser for Lincoln Center had David Geffen Hall stuffed with acrobats, dancers, jugglers, and magicians — to say nothing of the billionaires sipping cocktails and noshing on hors d'oeuvres such as a potato bite topped with caviar and crème fraîche. The event pulled in hundreds of traders, bankers, and lawyers despite a rainy, windy night on Manhattan's Upper West Side. It was a celebration of New York, according to one of the gala's chairs, Ilana Weinstein, a longtime hedge-fund recruiter born in the city. Steve Tananbaum, Ilana Weinstein, and Steve Cohen. Guests at Lincoln Center's Alternative Investment Industry Gala were entertained by dancers, musicians, jugglers, and acrobats.

Persons: David Geffen, —, Ilana Weinstein, Point72, Steve Cohen, Steve Tananbaum, Dave Kotinsky, Ken Griffin, Steves, Weinstein, Hunter Point's Bennett Goodman, York, Jamie Dinan, Axel Capital's Anna Nikolayevsky, Lincoln, partygoer Organizations: Lincoln Center, David Geffen Hall, Business, Lincoln Center In, Sunshine State, Citadel Securities, Citadel, Lincoln, Alternative, Industry Locations: New York, Florida, Lincoln Center In Florida, Miami, West Palm, Chicago, Balyasny

☆ Abercrombie & Fitch beats holiday estimates as sales soar again, helped by higher prices
▼ + stars: | 2024-03-06 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Abercrombie & Fitch said Wednesday that its holiday-quarter sales jumped 21% and its profits grew thanks to higher prices and lower raw material costs. For the current quarter, Abercrombie expects sales to rise by a low double digit percentage, compared to estimates of up 7.2%, according to LSEG. During the quarter, comparable sales grew 16% and gross margin came in at 62.9%, 7.2 percentage points higher than the year ago period. "Our strong fourth quarter was fueled by sales growth across regions and brands. In early January, Abercrombie raised its fourth quarter and full-year outlook after holiday sales came in better than expected.

Persons: Fitch, Abercrombie, Fran Horowitz, Horowitz, influencers, Hollister, they'll Organizations: Abercrombie, Fitch, Fitch Co, LSEG, Fitch's Locations: New York, Hollister

☆ Microsoft engineer warns company's AI tool creates violent, sexual images, ignores copyrights
▼ + stars: | 2024-03-06 | by ( Hayden Field | ) www.cnbc.com time to read: +11 min

Jones was noodling with Copilot Designer, the AI image generator that Microsoft debuted in March 2023, powered by OpenAI's technology. "It was an eye-opening moment," Jones, who continues to test the image generator, told CNBC in an interview. watch nowMicrosoft's legal department told Jones to remove his post immediately, he said, and he complied. Jones said the risk "has been known by Microsoft and OpenAI prior to the public release of the AI model last October." "I am certainly convinced that this is not just a copyright character guardrail that's failing, but there's a more substantial guardrail that's failing," Jones told CNBC.

Persons: Jakub Porzycki, Shane Jones, Jones, OpenAI's DALL, Lina Khan, Khan, deepfakes, he's, Satya Nadella, Sam Altman, Justin Sullivan, Darth Vader, Elsa, Mickey Mouse, guardrail that's Organizations: Microsoft, Nurphoto, Copilot, CNBC, Commerce, Science, Transportation, Federal Trade, Google, Getty, pitchfork, Disney, Wars, Palestinian, Israel Defense Forces Locations: Krakow, Poland, Redmond , Washington, San Francisco, hoodies, Gaza

☆ Meet Neema Raphael, the data whiz overseeing Goldman Sachs' army of engineers and scientists key to the bank's AI ambitions
▼ + stars: | 2024-03-06 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

We always use this code: garbage in, garbage out," Raphael, chief data officer and Goldman partner, told Business Insider. As Goldman goes all-in on AI, Raphael is emerging as a key player impacting the bank's future. How Raphael's data platform team is leading the way for AI innovation at GoldmanEven though Raphael's day can vary greatly, it always starts the same. AdvertisementOne is the data platform team, which oversees the entire data stack, including infrastructure and how people access data. For Goldman, AI is not new.

Persons: Goldman Sachs, Raphael, Goldman, It's, SecDB, That's Organizations: Service, Business, Goldman, JPMorgan, UC Berkeley, Engineering SWAT, Curation

☆ British politicians think they have a plan to combat Andrew Tate's influence in schools. It's doomed to fail.
▼ + stars: | 2024-03-01 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +6 min

Read previewBritish politicians have a plan to train young men in schools to be alternative influencer role models to controversial anti-feminist figure Andrew Tate. He's become an all-encompassing figure for young men who feel attacked by modern society and believe they have been left behind. Boys and young men idolize TateLiking manosphere creators doesn't directly mean someone will be violent toward women. Experts have expressed worry that the influence of Tate and other manosphere creators is deeply ingrained. AdvertisementThe ideological gap between Gen Z's young men and women is also widening, and these creators could be making it worse.

Persons: —, Andrew Tate, it's, Tate, He's, Bridget Phillipson, Cindy Marie Jenkins, Reddit, celibates, idolize Tate, manosphere, doesn't, Z's, Daniel Boscaljon, they've, Boscaljon, Krysten Stein, Stein, they're Organizations: Service, Business, Labour, Guardian, Tate, Boys, Healthy, Academy, BI Tate, University of Illinois Locations: Romania, Chicago

☆ US soldiers are fighting to get back lost skills for war in the 'most challenging environment on the planet,' Army general says
▼ + stars: | 2024-03-01 | by ( Chris Panella | ) www.businessinsider.com time to read: +7 min

The US Army's new JPMRC training rotation in Alaska prepares soldiers to fight in frigid conditions. Many skills related to Arctic combat had atrophied, generals said. On the flip side, JPMRC also does an annual rotation in Hawaii, training soldiers to fight in the wet, humid jungle. US Army Alaska officially became the 11th Airborne Division, a newly reactivated unit, with the focus on Pacific and Arctic combat. The general told reporters US Army Alaska had "sort of lost the Arctic ethos" because of its focus on counterinsurgency in the Middle East.

Persons: —, USARPAC, Elijah Magaña, Brian S, Eifler, JPMRC, Charles Flynn, Flynn, Brandon Vasquez, Eilfer Organizations: US, Army, Service, US Army, Pacific Multinational Readiness Center, 11th Airborne Division, U.S, 1st Battalion, 5th Infantry Regiment, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, Donnelly Training, Troops, U.S . Army, US Army Alaska, The Army Locations: Alaska, Fairbanks , Alaska, Iraq, Afghanistan, Hawaii, Pacific, China, U.S, Utqiagvik, Russia

☆ The US Army is breeding a new kind of Arctic warrior by 'testing the mettle of the human' in frigid, freezing Alaska, commander says
▼ + stars: | 2024-02-29 | by ( Chris Panella | ) www.businessinsider.com time to read: +8 min

This story is available exclusively to Business Insider subscribers. Out on the snow-covered Alaskan tundra, US Army Pacific is pushing its soldiers to prepare to fight in subzero temperatures and hostile, unpredictable environments. "It's a harsh environment," Maj. Gen. Brian S. Eifler told Business Insider in an in-person interview at Fort Wainwright in Fairbanks. Some told Business Insider the Arctic was the most difficult environment to fight in, while others noted it took a specific type of mindset to survive there, let alone excel. Maj. Joseph Gaskin told Business Insider, explaining that "we don't have all the answers for this environment."

Persons: —, USARPAC, Sammantha Ohm, Abreanna Goodrich, Snow, Maj, Brian S, Eifler, Col, Sean Lucas, Elijah Magaña JPMRC, Charles A, Flynn, USARPAC's, it's, Michael Sword, Joseph Gaskin, Lucas Organizations: Service, US Army, Business, Army, Pacific Multinational Readiness Center, BI, US, 11th Airborne Division, Troops, U.S . Army Spc, 5th Squadron, 1st Calvary Regiment, Delta Co, 1st Infantry Brigade Combat Team, Airborne Division, Pacific Multinational Readiness, Donnelly Training, U.S, Spc, 3rd Battalion, 509th Infantry Regiment, 2nd Infantry Brigade Combat Team, Pentagon, Pacific Command, U.S . Army, 11th Airborne Locations: Fairbanks , Alaska, Alaska, Wainwright, Fairbanks, Hawaii, China, Russia, North Korea

☆ Jim Cramer's quick thoughts on cybersecurity stocks, Disney, and our portfolio off-price retail name
▼ + stars: | 2024-02-28 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Ernie Herman, Macy's, TJX, Nordstrom, Cramer, UnitedHealth, Linde, Jim Cramer's, Jim Organizations: CNBC, Consumer, Communication Services, Health Care, Tech, TJX Companies, Target, Palo Alto Networks, Disney, ESPN, Apple, Paramount, Anheuser, Busch, Jim Cramer's Charitable Locations: Maxx, Palo Alto, India

☆ Russia says Ukraine lost an M1 Abrams tank after it was picked up by a pervasive threat making battlefield movements a nightmare
▼ + stars: | 2024-02-27 | by ( Chris Panella | ) www.businessinsider.com time to read: +5 min

AdvertisementRussia says that a US-made Abrams tank fell in Ukraine after it was picked up by a threat that has been a hassle for ground forces throughout the war. On Monday, photos and videos surfaced on social media of what appeared to be a damaged, burning Abrams tank. And numerous Soviet-era tanks on both sides of the war, as well as more modern Russian tanks, have also fallen to drones. AdvertisementThe American-made M1 Abrams was considered by experts and officials to be the strongest, most durable tank Ukraine had received from the West. Russia's claimed kill of an M1 Abrams tank comes just days after Ukraine published what it said was the first video of an Abrams tank in action.

Persons: Abrams, Vladimir Saldo's, Cpl, Justin T, Dmitry Peskov, They've, SERGEI SUPINSKY, Russia's Organizations: Business, Abrams, Armed Forces of, 15th Motorized Infantry Brigade, Vladimir Saldo's Telegram, Leopards, Marines, Alpha Company, 2nd Tank, M1A1 Abrams, US Marine Corps, Kremlin, Challenger, US, Ukraine, Army, Drones, Getty, US Army Pacific, 47th Mechanized Brigade Locations: Russia, Ukraine, Armed Forces of Ukraine, Avdiivka, Donetsk Oblast, Russian, Kherson, German, Lejeune, N.C, British, Kyiv, AFP

☆ Zelensky says Trump doesn’t understand Putin because he has never fought him
▼ + stars: | 2024-02-26 | by ( Ivana Kottasová | Kaitlan Collins | ) edition.cnn.com time to read: +5 min

Kyiv, Ukraine CNN —Former US President Donald Trump will be “against Americans” if he chooses to support Russia over Ukraine, the war-torn country’s President Volodymyr Zelensky said Sunday. Speaking to CNN’s Kaitlan Collins in Kyiv, Zelensky said he “can’t understand how Donald Trump can be on the side of (Russian President Vladimir) Putin.”“It’s unbelievable,” he added. Zelensky said that he believed Trump — who also claimed he would end the conflict in one day if elected — did not understand Putin’s goals. “I think Donald Trump doesn’t know Putin,” Zelensky said. “He doesn’t understand it, of course, God bless you don’t have the war on your territory.”

Persons: Donald Trump, Volodymyr Zelensky, CNN’s Kaitlan Collins, Zelensky, Vladimir, Putin, ”, Trump, —, “, Donald Trump doesn’t, ” Zelensky, “ we’ve, Avdiivka, Joe Biden’s, Ukraine’s, Oleksandr Syrskyi, Mike Johnson, Biden, …, I’m, Collins, JD Vance, Vance “ Organizations: Ukraine CNN — Former, Republican, South Carolina Republican, CNN, EU, European Union, “, Kyiv, Russia, Republicans Locations: Kyiv, Ukraine, Russia, United States, Avdiivka

☆ Influential Koch network stops spending for Nikki Haley to focus on Senate and House races
▼ + stars: | 2024-02-25 | by ( Ebony Davis | ) edition.cnn.com time to read: +3 min

CNN —The influential network associated with billionaire Charles Koch will no longer throw its money behind former South Carolina Gov. Nikki Haley in the Republican presidential primary and will instead focus on key Senate and House races, the group announced in an email to staff obtained by CNN. Americans for Prosperity Action’s endorsement in November was a significant boost for Haley as she sought to become the leading alternative to former President Donald Trump in the GOP primary. But while the race has come down to Haley and Trump, the former president remains the dominant front-runner after a strong victory in Haley’s home state on Saturday. “AFP is a great organization and ally in the fight for freedom and conservative government.

Persons: Charles Koch, Nikki Haley, Emily Seidel, Haley, Donald Trump, Trump, Seidel, “, ”, Olivia Perez, Cubas, ” Perez, ” “, ” Seidel, Fredreka Schouten Organizations: CNN, South Carolina Gov, Republican, “, South Carolina, Senate, Prosperity, GOP, United Nations, AFP, White, Politico, Network, Democratic, Trump Locations: Haley’s, Washington

☆ Warren Buffett calls out stock-market gamblers and honors the late Charlie Munger in his annual letter
▼ + stars: | 2024-02-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett hailed Charlie Munger as the "architect" of Berkshire Hathaway in his annual letter. 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 . AdvertisementWarren Buffett paid tribute to Charlie Munger, touted four of Berkshire Hathaway's biggest bets, and voiced frustration in his annual letter to shareholders published on Saturday. He shaped Berkshire into a world-beating conglomerate and helped Buffett evolve from bargain hunting to buying businesses at fair prices.

Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Buffett, —, Charlie, he's, Munger, Ajit Jain, Greg Abel, Bertie Organizations: Service, Berkshire, American Express, Occidental Petroleum Locations: Berkshire, Omaha , Nebraska, Munger, United States, Omaha

ImageReddit’s bet on RedditorsReddit is the latest company set to test the uncertain I.P.O. market, after the unprofitable social media company built around an avid community of newshounds, cryptocurrency devotees and reality TV fans filed to go public. The company is seeking a valuation of at least $5 billion and DealBook sifted through its prospectus to figure out its pitch to investors. demand that’s fueling a global stock market rally. But whether that’s enough to push Reddit to become profitable is a big question hanging over the listing.

Persons: Reddit, Google that’s Organizations: Google Locations: newshounds, A.I

☆ Tax evasion by millionaires and billionaires tops $150 billion a year, says IRS chief
▼ + stars: | 2024-02-22 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

The IRS, with billion of dollars in new funding from Congress, has launched a sweeping crackdown on wealthy taxpayers, partnerships and large companies. The Inflation Reduction Act gave the IRS an $80 billion infusion, yet congressional Republicans won a deal last year to take $20 billion of the funding back. The Treasury Department said last week it estimates greater IRS enforcement to result in an additional $561 billion in tax revenue between 2024 and 2034 — a higher projection than it had initially stated. The IRS is touting its early success with a program to collect unpaid taxes from millionaires. So far, the IRS has collected more than $480 billion from the group, "and we are still going," Werfel said.

Persons: Danny Werfel, Werfel, Ting Shen Organizations: Internal Revenue Service, IRS, CNBC, Congress, Republicans, Treasury Department, Bloomberg, Getty Locations: Washington , DC

☆ Ukraine hit a company of Russian troops with HIMARS while they waited around for a visiting general
▼ + stars: | 2024-02-22 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

The Russian battalion congregated at a training area near the village of Trudovske in occupied eastern Ukraine when the two missiles struck, The BBC reported Wednesday. Sources familiar with the incident told the outlet that the soldiers were gathered to await the arrival of a senior commander. Ukraine has yet to comment on the strike, but the BBC reported a US-made HIMARS launch system was used to fire the two missiles. In August, Ukraine said it launched a HIMARS attack on five Russian units gathered on a beach that resulted in 200 casualties and destroyed equipment. Some accounts at the time suggested the troops had been gathered to await a general's pep talk before a dangerous mission.

Persons: —, Alexander Osipov, Osipov, Yaroslav Trofimov, Oleg Moiseyev, Vladimir Putin, Sergei Shoigu, Simon Miles, flack Organizations: Service, Russian, BBC, Business, Telegram, Wall Street, 29th Army of, Defense, Duke University's Sanford School of Public, Soviet Union Locations: Russia, Trudovske, Ukraine, Transbaikalia, Soviet, Russian

☆ Ukraine took out another Russian fighter jet, bringing its kill streak to 7 in a week
▼ + stars: | 2024-02-21 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +3 min

Ukraine's Armed Forces destroyed another Russian Su-34 fighter jet, marking the seventh in a week. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine said it destroyed another Russian fighter jet on Wednesday, bringing its kill streak to seven in one week. The commander of Ukraine's air force, Lieutenant General Mykola Oleshchuk, said on Wednesday that Ukraine had taken out a Su-34 fighter bomber. A spokesperson for the Ukrainian Air Force told the Kyiv Post that the plane was downed "in the eastern direction."

Persons: —, Mykola Oleshchuk, Forbes, Sinéad Baker, Justin Bronk, Baker, Denys Shmyhal Organizations: Ukraine's, Forces, Service, Pravda, Eternal, Ukrainian Air Force, Kyiv Post, Ukraine, Royal United Services Institute, ABC News, US, Africa Command, Ukrainian Armed Forces Locations: Russian, Ukraine, Kyiv, Poltava, Kharkiv, Dnipropetrovsk, Zaporizhzhya, Donetsk, Russia, Europe

☆ A lost 22-page transcript discovered at the National Archives reveals the secret history of how Abraham Lincoln pardoned Joe Biden's ancestor
▼ + stars: | 2024-02-20 | by ( Alex Nicoll | ) 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. The shouting match turned physical, and eventually, Robinette injured Alexander with his pocketknife, according to the Post. After a senator from the recently formed state of West Virginia took up the case, Lincoln pardoned Biden's ancestor on September 1, 1864. The area, now in West Virginia, was full of Union supporters and became a key early battleground of the war. He went on to spend one month in the military prison at Fort Jefferson in the Dry Tortugas, near Key West, Florida, before Lincoln pardoned him.

Persons: —, Joe Biden's, Barack Obama, Abraham Lincoln, Biden, Lincoln, Biden's, Moses J, Robinette, John J, Alexander, David Gerleman, he'd, Jane Organizations: Service, Union Army, Washington Post, Post, Business, Army, Potomac, Department, George Mason University, National Archives, Union Locations: splintering, Lincoln, Florida, West Virginia, Maryland, Virginia, Washington ,, Grafton , Virginia, Allegany County , Maryland, Rappahannock, Fort, Key West , Florida

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