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Loading chart...LONDON — U.K. borrowing costs posted two days of gains right after the Labour government unveiled a huge package of borrowing and tax rises in its Wednesday budget — but analysts downplayed the possibility of a second "mini-budget" crisis in the British bond market. The 10-year gilt yield , representing medium-term borrowing costs for the government, was slightly lower on the day at 11:20 a.m. London time. Yields move inversely to prices, so higher yields represent a sell-off in bonds — and an aversion to funding U.K. debt. The incident sent bond yields soaring so rapidly, they threatened to destabilize pension funds. Loading chart..."The market is right to be concerned" about the U.K. fiscal outlook, Mohit Kumar, chief financial economist for Europe at Jefferies, told CNBC.
Persons: Rachel Reeves, Reeves, Liz Truss, BOE, Susannah Streeter, Hargreaves Lansdown, It's, Streeter, CNBC's, Sterling, Mohit Kumar, We've Organizations: LONDON, Labour, Wednesday, Bank of England, Deutsche Bank, Hargreaves, U.S ., Jefferies, CNBC Locations: London
Top Chinese research institutions linked to the People's Liberation Army have used Meta's publicly available Llama model to develop an AI tool for potential military applications, according to academic papers and analysts. Top Chinese research institutions linked to the People's Liberation Army have used Meta's publicly available Llama model to develop an AI tool for potential military applications, according to academic papers and analysts. It was found to outperform some other AI models that were roughly 90% as capable as OpenAI's powerful ChatGPT-4. The researchers didn't elaborate on how they defined performance or specify whether the AI model had been put into service. Meta has embraced the open release of many of its AI models, including Llama.
Persons: Army's, Meta META.O, ChatBIT, Sunny Cheung, Meta Organizations: People's Liberation Army, Reuters, PLA, Academy of Military Science, Meta, Jamestown Foundation Locations: China, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEveryday investors buy Trump Media & Technology Group shares ahead of Election DayCNBC's Alex Harring reports on the spike in net inflows for Trump Media & Technology ahead of the 2024 presidential election.
Persons: Alex Harring Organizations: Trump Media & Technology Group, Trump Media & Technology
Hinchliffe's Puerto Rico joke spawned the initial news cycle (and within 24 hours, a new digital ad from Vice President Kamala Harris' campaign). Related storiesThe Harris campaign did not immediately respond to a request for comment. That leaves it to each campaign to try to generate their own moments, like when Trump did a photo-op at McDonald's. In both cases, they were upstaged by secondary moments that their opponents successfully latched onto, with Hinchcliffe drowning out Trump's rally and Biden spoiling Harris' rally. AdvertisementIt's why Trump donned a bright orange vest and climbed into a garbage truck, and it's why his supporters are responding to Cuban's comments with a social media campaign.
Persons: , Sen, JD Vance, I'm, Vance, frontiersmen, Tony Hinchliffe's, Joe Biden, Donald Trump's, Kamala Harris, Trump, Harris, Mark Cuban, Cuban, Trump hadn't, Nikki Haley, he'd, Anna Kelly, Kelly, aren't, gaffes, Mitt Romney's, Hillary Clinton's Organizations: Service, Trump, White, Madison, Biden, Democratic, Republican Locations: Puerto Rico, Wausau , Wisconsin, Ohio, United States of America, Hinchliffe's Puerto Rico, Wisconsin, America, Madison
Amazon CEO Andy Jassy said AWS gives the company a leg up in the AI race. Jassy said AWS has shown that Amazon can handle the logistics for scaling AI. AdvertisementAmazon CEO Andy Jassy on Thursday explained why he thinks the company is well-positioned to excel in AI: Amazon Web Services. Jassy talked up the cloud-computing unit on Amazon's third-quarter earnings call, defending the company's aggressive investments in AI. Amazon beat Wall Street's third-quarter expectations on revenue and earnings per share, with the stock rising 6% in after-hours trading.
Persons: Andy Jassy, Jassy, , Sundar Pichai Organizations: Service, Web Services, Amazon, Companies, AWS, Big Tech
He added, "Votes of union workers in the United States against tentative agreements tend to reflect the white-hot anger of union employees against their employers. Tentative agreements are their only chance for them to express their frustration with their employer and their anger at the way they have been treated." A BNSF spokesperson said it is planning to attend the formal national labor negotiations even as it has announced nine tentative union agreements, five of which have already been ratified. It also has tentative agreements with the International Brotherhood of Electrical Workers (IBEW), SMART-TD, SMART-TD-YDM (Yardmasters Department), the International Brotherhood of Boilermakers, and Iron Ship Builders (IBB). To date, Norfolk Southern has reached tentative agreements with 10 of its 13 unions, covering approximately 67% of its craft workforce.
Persons: Berkshire Hathaway, Jeremy Ferguson, Ferguson, Joe Biden, Richard Edelman, Mooney, Green, Murphy, Welch, Daniel Imbro, Stephen, Brotherhood of Railway Carmen, we've, Mark George, Imbro, it's Organizations: Union Pacific, CSX, BNSF, Canadian Pacific, Canadian Pacific Kansas City —, SMART, Railway Labor, National Carriers ' Conference Committee, Railroads, NSC, National Conference of Firemen, Oilers, Tran, Transportation Communications Union, TCU, Brotherhood of Railway, International Brotherhood of Electrical Workers, Yardmasters Department, International Brotherhood of Boilermakers, Iron Ship Builders, Norfolk, Norfolk Southern, National Carriers ' Locations: Southern, Berkshire, Canadian Pacific Kansas, United States, Norfolk Southern, Norfolk
Russia faces a crisis whether it continues the war or not, economist Alexander Mertens says. War spending has been a major boost to Moscow's GDP growth and wealth, and ending the war will be tricky. If Russia continues the war, the economy looks on track for a "severe recession" and long-running stagnation, Mertens said. "The current state of the Russian economy is far from critical but it does present Putin with a dilemma. The Russian economy is not yet close to collapse, but it is increasingly dependent on wartime conditions and faces growing risks of overheating."
Persons: Alexander Mertens, , Vladimir Putin, Mertens, Merten, Putin, That's Organizations: Service, Kyiv's International Institute of Business, Ukraine, Atlantic Council, Russian National Welfare Fund, Kremlin, International Monetary Fund Locations: Russia, Ukrainian, Ukraine
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Friday's full episode of Mad Money with Jim Cramer — November 1, 2024"Mad Money" host and former hedge fund manager, Jim Cramer, provides stock traders with all manner of investing advice.
Persons: Jim Cramer —, Jim Cramer
Former President Donald Trump and Vice President Kamala Harris campaigned around southwestern states this week as they sought to shore up the Latino vote with only five days until Election Day. Latino voters account for %14.7 of all eligible voters in the upcoming election, according to Pew Research Center. New Mexico, where Trump campaigned on Thursday, has the highest share of Latino voters with around 45% the population. The states with the next largest share of Latino voters include California, Texas, Arizona and Nevada. Although Democrats tend to have a historical advantage among Latino voters, that advantage has declined over the past four presidential cycles, according to a national NBC News/Telemundo/CNBC poll from September, especially as Trump makes strides with Latino men.
Persons: Donald Trump, Kamala Harris, Trump, Harris, Joe Biden, Hillary Clinton, Tony Hinchcliffe, Hinchcliffe Organizations: Pew Research Center, NBC News, Telemundo, CNBC, Trump Locations: New Mexico, California , Texas, Arizona, Nevada, While California, Texas, Albuquerque , New Mexico, America, Trump's, Puerto Rico
Expect the unexpected in the jobs report
  + stars: | 2024-11-01 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +11 min
In any other month, the finishing touch would be a clean reading on the labor market from the official jobs report. However, a common thread among economists is that the strikes and hurricanes could take a 100,000-job bite out of the October jobs report. The last time there were back-to-back major hurricanes — Harvey and Irma in 2017 — the forecasts for the following month’s jobs report were for a loss of 33,000 positions. And each contribute to two of the biggest numbers in the monthly jobs report. A key date to keep in mind for the jobs report is October 12, as it anchors the “reference period” for both surveys.
Persons: , Claudia Sahm, “ It’s, That’s, aren’t, FactSet, Joe Brusuelas, — Harvey, Irma, Sahm, Oliver Allen, Milton, , Harris, Kamala Harris, Donald Trump’s, We’re, Biden, Jared Bernstein, Joe Biden’s, Organizations: CNN, Boeing, Reserve, New Century Advisors, Labor, Survey, Bureau of Labor Statistics, of Labor, Challenger, ADP, BLS, RSM, Pantheon Macroeconomics, Republicans, The New York Times, Siena College, Associated Press Locations: Washington and Oregon
BI spoke with Super Bowl champion Drew Brees to learn about his favorite quarterbacks this season. 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 . As the 2024 season approaches the halfway point, Business Insider spoke with NFL great and 2010 Super Bowl champion Drew Brees through his partnership with digital automotive platform CarGurus to learn who he's watching closely this year. From promising rookies to trusted veterans, here are the standout quarterbacks this season, according to Drew Brees.
Persons: Drew Brees, Brees, Jayden Daniels, , it's, Dak Prescott Organizations: Super Bowl, Service, CNBC, NFL, Dallas Cowboys, Business
CNN —More than a “brat summer” – it may even be a brat year. Noonoo, a chihuahua dressed as 'brat', is seen during the Halloween Dog Parade in New York, on October 19, 2024. Caitlin Ochs/ReutersThe dictionary credited British singer Charli XCX with making “brat” one of the most talked-about words in 2024. That’s brat,” she said in a video explaining the word on TikTok. Annette Corsino, owner of the Knitting Tree LA, works on a "brat" hat in support of presidential candidate Vice President Kamala Harris in Inglewood, California, on July 31, 2024.
Persons: , , Caitlin Ochs, Charli, Charli XCX, Kamala Harris ’, Harris, kamala, looksmaxxing, rawdogging, , Annette Corsino, Kamala Harris, Gina Ferazzi, Organizations: CNN, Collins, BBC, Los Angeles Times Locations: chihuahua, New York, Inglewood , California, Europe
Nonfarm payrolls increased by 12,000 for the month, down sharply from September and below the Dow Jones estimate for 100,000, the Bureau of Labor Statistics reported Friday. In what had already been expected to be a downbeat report, October posted the smallest gain since December 2020. A broader measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons also was unchanged at 7.7%. In the report narrative, the BLS noted that the Boeing strike likely subtracted 44,000 jobs in the manufacturing sector, which lost 46,000 positions overall. The meager jobs numbers along with wages about in line with expectations help cement another interest rate cut from the Federal Reserve next week.
Persons: Nonfarm, Dow Jones, Helene, Milton, Cory Stahle, Kamala Harris, Republican Donald Trump, Lisa Sturtevant Organizations: of Labor Statistics, BLS, Boeing, Federal Reserve, Republican, Bright MLS Locations: U.S
Calls of the Day: Berkshire Hathaway, Citigroup, Visa and Uber
  + stars: | 2024-11-01 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: Berkshire Hathaway, Citigroup, Visa and UberThe Investment Committee debate the latest Calls Of The Day.
Persons: Berkshire Organizations: Berkshire Hathaway, Citigroup, Visa, The
After a messy election, the Bank of Japan decided to hold its benchmark policy rate at 0.25%, as expected. These outlook risks highlight that the timing of the next BOJ rate hike could depend heavily on developments overseas, as well as the exchange rate and its impact on the Japanese economy, Otani added. He added that it would surpass the 13 trillion yen ($84.6 billion) allocated in last year's supplementary budget. When Ishiba returns, he is expected to hold an extraordinary Diet session, during which he hopes to pass the supplementary budget plan, according to local news. Then I would probably rule out a rate hike in December, because that would create a lot of uncertainty about the fiscal situation."
Persons: Kazuo Ueda, Stefan Angrick, Angrick, Akira Otani, Goldman Sachs, Otani, Marcel Thieliant, Shigeru Ishiba, Ishibia, Ishiba, Thieliant Organizations: Japan, Bank of Japan, Moody's, Liberal Democratic Party, Asia Pacific, Capital Economics, CNBC, Democratic Party Locations: Tokyo, Japan, Brazil
Salesforce CEO Marc Benioff attends the TIME100 Gala at Jazz at Lincoln Center in New York on April 26, 2023. The Greek media company Antenna Group is in talks to acquire Time from Salesforce co-founder Marc Benioff, according to people familiar with the matter. "There is no agreement to sell Time," said a Time spokesperson, who declined to comment on the talks with Antenna. An Antenna Group spokesperson didn't respond for comment. The Antenna Group nearly acquired Vice Media in 2022 before the company declared bankruptcy.
Persons: Marc Benioff, didn't, Benioff, Jeff Bezos, Lynne, Alan Murray Organizations: Jazz, Lincoln Center, Antenna, Comcast, Washington Post, U.S, NPR, Meredith Corp, Time Inc, Meredith, Media, Arianna, CNBC Locations: New York, Europe, Arianna Huffington's
CNN —Jimmy Chin has done many memorable things in his time, but the adventure athlete and Oscar-winning filmmaker is still more used to documenting big stories than becoming the story itself. (credit: Jimmy Chin) Jimmy Chin/National Geographic/PA Media“It was like finding a needle in a thousand haystacks,” Chin added. They, along with Natalie Hewit, directed “Endurance,” a thrilling retelling of the discovery of the lost ship Endurance. CNN: Why do you think Shackleton remains such an enduring figure of fascination and inspiration? Chin: I think there’s some consensus that this is one of the greatest stories of survival ever told.
Persons: Jimmy Chin, , Elizabeth Chai Vasarhelyi, Chin, George Mallory, Andrew “ Sandy ” Irvine, Edmund Hillary, Tenzing Norgay, , ‘ A.C, ’ ”, ” Chin, Vasarhelyi, Natalie Hewit, Ernest Shackleton, Frank Hurley, Shackleton, it’s, that’s, Hurley, they’ve, we’ve, Jimmy –, they’re, Jimmy, Doug, Kris Tompkins, Alex Honnold, I’ve, Alex, He’s Organizations: CNN, British, Endurance, British Film Institute, Geographic, Disney Locations: Mallory’s, Irvine, Everest, Weddell, Lansing, Dominican Republic, Shackleton, Chile, Patagonia
AdvertisementSummer is over, and this Sunday it's time to turn back the clocks, ending daylight-saving time for the year. "That's how fragile and susceptible your body is to even just one hour of lost sleep," sleep expert Matthew Walker, author of "How We Sleep," previously told Business Insider. Some lawmakers want permanent DST — others want standard time year-roundThe political debate over DST is fierce, unscientific, and deeply divided. In the 2018 midterms, voters opted to get rid of the annual clock change, to be in permanent daylight-saving time. Switching to permanent DST requires a green light from Congress, but states do not need federal approval to switch to permanent standard time.
Persons: , it's, Matthew Walker ,, That's, GOP Sen, Marco Rubio, Rubio, Akinbolaji Organizations: Service, American Medical Association, DST, Sleep Research Society, National Conference of State Legislatures, Protection, GOP, Senate, University of Minnesota Medical School Locations: Germany, Europe, Hawaii, Arizona, Indiana, Finland, California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Friday's full episode of the Halftime Report — November 1, 2024"Fast Money Halftime Report" is on the front lines of CNBC's market coverage. Host CNBC's Scott Wapner and the Street's top investors get to the heart of the action as it's happening and help set the agenda for the rest of the day. Watch today's full episode on CNBC PRO.
Persons: CNBC's Scott Wapner Organizations: CNBC PRO
Hong Kong CNN —China appears to have built a new and unusual aircraft carrier, intriguing experts with a potentially first-of-its-kind vessel that could further increase Beijing’s rapidly expanding maritime power. This potential new aircraft carrier “is of a somewhat unusual shape and size – much smaller than China’s previous naval aircraft carriers,” said Thomas Shugart, a former US Navy submarine commander and now a fellow at the Center for a New American Security. Another view of the satellite imagery captured on October 23, 2024, showing a potentially new class of a Chinese aircraft carrier at a shipyard in the southeastern end of the country. Only the United States Navy operates aircraft carriers bigger than the Fujian. Conducted in the South China Sea, the exercise was “aiming to enhance the integrated combat capability of the aircraft carrier formations” and was “part of the Liaoning aircraft carrier formation’s regular real-combat training in the high seas,” Xinhua said.
Persons: , Thomas Shugart, Shugart, , Beijing’s, Carl Schuster, Schuster, ” Schuster, ” Song Organizations: Hong Kong CNN, Planet Labs, Guangzhou Shipyard, US, Center, New, New American Security, Planet Labs PBC China, People’s Liberation Army Navy, PLAN, supercarriers, United States Navy, Center for Strategic, International Studies, , PLA, Pacific Command’s Joint Intelligence, China Coast Guard, Beijing, Coast Guard, Communist Party, Xinhua, Liaoning, US Navy, Global Times Locations: Hong Kong, China, Guangdong, New American, Fujian, Shandong, Liaoning, Naval, Washington, Shanghai, Beijing, Taiwan, Matsu, South, South China, Xinhua
Jesús Lucero Ezquerro, who lives in Valencia, was in disbelief when he saw the damage from floods. AdvertisementThis as-told-to essay is based on a conversation with Jesús Lucero Ezquerro, 28, who lives in the Poblats Marítims district of Valencia, Spain. AdvertisementCars were on top of each other, says Jesús Lucero Ezquerro, as he discovered the damage left by the storm in Valencia. Jesús Lucero Ezquerro said he and his friends helped clear the streets of Valencia. Courtesy of Jesús Lucero EzquerroLeft behindI am frustrated and angry.
Persons: Jesús Lucero Ezquerro, Ezquerro, , I've, Jesús Lucero, Milton, Hurricane Milton, it's Organizations: Service, Hurricane Milton, Hurricane, Spanish Meteorological Agency Locations: Valencia, Marítims, Spain, Florida, Tampa
Watch Friday's full episode of Fast Money — November 1, 2024
  + stars: | 2024-11-01 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Friday's full episode of Fast Money — November 1, 2024"Fast Money" is America's post-market show. Hosted by Melissa Lee and a roundtable of top traders, "Fast Money" breaks through the noise of the day, to bring you the actionable news that matters most to investors.
Persons: Melissa Lee
Tom Hanks said he is in "better shape" at age 68 than he was in his 30s. Hanks said that he found it hard to play the younger version of his character. AdvertisementTom Hanks said he's in "better shape" at age 68 than he was in his 30s, because he has more time to focus on his health than he did when he was raising a family. Hanks told Entertainment Tonight of the difficulties of playing the younger version of his character. Related Video"I think I'm in better shape now.
Persons: Tom Hanks, Hanks, , he's, Forrest Gump, Robert Zemeckis, Robin Wright, it's Organizations: Service, Entertainment, Radio Times
People look at models of houses at the 2021 Dalian autumn real estate fair at Dalian World Expo Center on October 15, 2021 in Dalian, Liaoning Province of China. Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market. The average price across 100 cities edged up 0.29%, compared with the previous month's 0.14%, according to data released by property researcher China Index Academy. On a year-on-year basis, the average price rose 2.08% versus 1.85% growth in September. Average new home prices fell 0.02% from a month earlier in smaller cities last month, the China Index Academy data showed.
Persons: Nomura Organizations: Dalian, China Index, Authorities, Nomura Locations: Dalian, Liaoning Province of China, China, Shanghai, Beijing
Learn moreEvery November, we tell ourselves and our loved ones the same thing: it's okay to order your Thanksgiving meal online. And if you just need help with the centerpiece, we curated lists of the best ham and the best turkey you can order online. Or, check out the full feast packages from Harry & David, which will deliver a complete meal right to your door. Plus, we've included some wine bundles that pair perfectly with turkey. AdvertisementHere are the best places to order Thanksgiving dinner onlineGoldbellyHarry & DavidOmaha SteaksBoarderieThe Honey Baked Ham Co.
Persons: David, Harry, David Omaha Organizations: Business, Ham Co Locations: Ham
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