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☆ 5 huge challenges facing Apple this year
▼ + stars: | 2024-01-25 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +9 min

Behind in generative AI. A recent Reuters report noted iPhone sales in China dropped 30% in the first week of the year amid pressure from rival Huawei. Still, Barclays downgraded Apple stock earlier this month citing disappointing iPhone 15 sales in China and softening demand for the latest iPhone. Apple also faces challenges around the upcoming rollout of the Vision Pro headset, which will be its riskiest product launch in years. Tim Cook, chief executive officer of Apple Inc., speaks during a launch event for the new Apple iPhone 15 at Apple Park in Cupertino, California, on September 12, 2023.

Persons: ”, David McQueen, ALY, Dan Ives, Apple, Justin Sullivan, Jitesh, IDC –, that’s, It’s, Siri, McQueen, “, Ming Yeung, Tim Cook, Nic Coury, hasn’t, Brian Fung, Clare Duffy Organizations: CNN, Microsoft, Apple, ABI Research, Huawei, Reuters, Apple Watch, International Trade Commission, IDC, Meta, Google, Samsung, Mac, Barclays, Apple Inc, Getty, EU, Markets, Epic Locations: China, Shanghai, Cupertino , California, Milan, Italy, AFP

☆ China takes delivery of Boeing 737 Max in show of support for troubled plane maker
▼ + stars: | 2024-01-25 | by ( Xiaofei Xu | Chris Isidore | ) edition.cnn.com time to read: +2 min

Hong Kong/New York CNN —Boeing has delivered its first 737 Max to a Chinese airline for the first time in nearly five years, according to flight data, in a rare spot of good news for the embattled company. According to flight tracking website Flightradar 24, China Southern Airlines flight CZ5073 departed from Boeing Field in Seattle, Washington, on Wednesday for China via Honolulu. The use of the airline’s flight number, instead of a Boeing one, suggests the ownership of the plane has already been transferred. The plane, a 737 Max 8 according to flight data, was built in September 2019 and has been parked in Boeing’s Seattle factory since then, according to flight tracking sites Flightradar 24 and Aviation Flights. In December, the trade publication the Air Current said Boeing had won a key clearance from China’s aviation regulator, the Civil Aviation Administration of China (CAAC), allowing Boeing to prepare Max aircraft for delivery, Reuters reported.

Persons: Max, CZ5073, haven’t Organizations: New York CNN, Boeing, Max, China Southern Airlines, Boeing Field, Aviation, US Federal Aviation Administration, FAA, CNN, Current, Civil Aviation Administration of China, Reuters Locations: Hong Kong, New York, Seattle , Washington, China, Honolulu, Boeing’s Seattle, Indonesia, Ethiopia

☆ Passenger Spots Missing Bolts on Virgin Atlantic Flight, Canceled
▼ + stars: | 2024-01-23 | by ( Joey Hadden | ) www.businessinsider.com time to read: +4 min

The flight was canceled "to provide time for precautionary additional engineering maintenance checks," a Virgin Atlantic representative told Business Insider in a statement. AdvertisementThe missing bolts were not a safety concern, experts sayA Virgin Atlantic Airbus A330 flies over London in December 2022. "We'd like to apologize to our customers for the delay to their journeys," Virgin Atlantic told BI in a statement, and confirmed the plane is now back in service following an inspection. While not a safety issue, the recent Virgin Atlantic flight cancellation is not the first problem the airline has faced this year. On January 7, a Virgin Atlantic Airbus A330 traveling from Manchester to Barbados made an emergency landing after the smell of smoke filled the cockpit, The Independent reported.

Persons: —, Phil Hardy, John F, Hardy, Robert Smith, Neil Firth, Mathieu Lewis, Rolland, Getty Organizations: Service, Kennedy, Virgin Atlantic, New York Post, Business, Airbus, Kennedy News Agency, The Independent, Virgin Atlantic Airbus, Getty, Boeing, Alaska Airlines, Alaska Airlines Boeing, Max, National Transportation Safety Board, An Alaska Airlines, Portland International Airport, US Federal Aviation Administration, FAA, Independent Locations: Manchester, England, New York City, NYC, London, Portland , Oregon, Ontario , California, Barbados

☆ Alaska Airlines CEO says company found loose bolts on ‘many’ Boeing Max 9s
▼ + stars: | 2024-01-23 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

New York CNN —Alaska Airlines CEO Ben Minicucci revealed the carrier found “some loose bolts on many” Boeing 737 Max 9s in an interview for “NBC Nightly News with Lester Holt” scheduled to air Tuesday. The US Federal Aviation Administration urged airlines on Sunday to inspect so-called door plugs on an earlier version of Boeing 737 airplanes. After recent inspections of the newer Max 9s, United Airlines and Alaska Airlines have found loose bolts. NBC asked Minicucci if Boeing has a problem with quality control extending beyond a single plane. We will follow the lead of the FAA and support our customers every step of the way.”The CEO of United Airlines, one of the biggest buyers of Boeing jets, also expressed frustration with the company.

Persons: Ben Minicucci, Lester Holt ”, ” Minicucci, Max, that’s what’s, ”, Minicucci, Stan Deal, “ I’m, Scott Kirby, they’ve, ” CNN’s Chris Isidore, Gregory Wallace, Hanna Ziady Organizations: New, New York CNN, Alaska Airlines, Boeing, Max, NBC, US Federal Aviation Administration, United Airlines, FAA, Airplanes, United, CNBC Locations: New York, Portland , Oregon, Ontario , California, Alaska

☆ FAA asks airlines to inspect earlier generation of Boeing 737s
▼ + stars: | 2024-01-22 | by ( Gregory Wallace | ) edition.cnn.com time to read: +1 min

(CNN) — An earlier generation of the Boeing 737 may have issues similar to the door plug that flew out of the side of a recently made plane earlier this month. Since the incident on a newer Boeing 737 Max 9 just over two weeks ago, some airlines have inspected the earlier-built planes and observed “findings with bolts,” the agency said. After recent inspections of the newer Max 9s, United Airlines and Alaska Airlines have both found loose bolts. The FAA noted that the two generations of aircraft “have an identical door plug design.”The FAA notice does not ground the earlier generation of plane. Instead, it recommends that airlines inspect the four bolts that are intended to hold the door in place “as soon as possible.”The newer Max 9 aircraft continue to be grounded in the United States.

Persons: —, Max, “ Organizations: CNN, Boeing, US Federal Aviation Administration, Max, FAA, United Airlines, Alaska Airlines Locations: United States

☆ Microsoft says Russian hackers attacked it to find information about themselves
▼ + stars: | 2024-01-20 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Microsoft said on Friday that its security systems were breached by a Russian hacking group. Microsoft identified the group as Midnight Blizzard, which was behind the SolarWinds cyberattack. AdvertisementMicrosoft said Friday that its systems were breached by Russian hackers who accessed a "very small percentage" of corporate email accounts. The attack was launched by Midnight Blizzard — the seasoned Russian hacking group behind the massive 2020 attack on US information technology firm SolarWinds, which exposed sensitive information in the US federal government. But federal investigators said they found evidence the hackers accessed Microsoft Office 365.

Persons: — Organizations: Microsoft, Midnight, Service, Midnight Blizzard, Initiative Locations: Russian, China

☆ A video appears to show flames spurting from a Boeing 747-8 plane in the sky that was forced to make an emergency landing in Miami
▼ + stars: | 2024-01-19 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

An Atlas Air Boeing 747-8 cargo plane made an emergency landing after an engine malfunction. Atlas Air said the plane landed safely and no injuries were reported. AdvertisementA video appears to show a Boeing 747-8 cargo plane on fire in the sky before making an emergency landing at Miami International Airport on Thursday. BREAKING REPORT : ⚠️ Atlas Air Boeing 747-8 from Miami International Airport CATCHES FIRE MID AIR.. A spokesperson for Miami International Airport told BI that the plane landed safely at 11:03 pm Eastern Time on Thursday.

Persons: —, Chuck Callesto, 5Y095, NBC6, we'll, Max Organizations: Atlas Air Boeing, ., Air, Service, Boeing, Miami International Airport, Atlas Air, Reuters, AIR, Business, MIA, US Federal Aviation Administration, FAA, BI, Japan Airlines, Coast Guard, Alaska Airlines Boeing, Max, Alaska Airlines Locations: San Juan , Puerto Rico

☆ Premarket stocks: Airline stocks are getting pummeled. Here are four reasons why
▼ + stars: | 2024-01-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —It’s been a tough month for shares of airline companies. Here’s why investors are getting out of airline stocks. Boeing’s “can of worms”: Boeing’s problems began on Jan. 5, when the door plug on an Alaska Airlines Boeing 737 Max 9 detached mid-flight. Oil prices are volatile: Investors are also concerned about a possible spike in oil prices. United Airlines Holdings shares have declined 8% so far in January and American Airlines Group shares have fallen 6%.

Persons: New York CNN — It’s, Wells, “, Max, JetBlue’s, Patrick T, Fallon, Brent, Ed Bastian, Antony Blinken, CNN’s Jennifer Hansler, Bryan Mena, Read Organizations: CNN Business, Bell, New York CNN, NYSE, Alaska Airlines Boeing, Max, Boeing, Alaska Airlines, US Federal Aviation Administration, National Transportation Safety, FAA, ”, Spirit Airlines, JetBlue, Spirit, CNN . Spirit Airlines Airbus, JetBlue Airlines Airbus, Los Angeles International Airport, Getty, US Justice Department, Hawaiian Airlines, Hawaiian Holdings, US, . West Texas, Delta Air Lines, Delta, United Airlines Holdings, American Airlines Group, Blinken’s Boeing, Commerce Department Locations: New York, Washington, Boston, AFP, Iran, Yemen, Davos, Zurich, deplane

☆ Akasa Air: Boeing gets some good news as Indian airline orders 150 737 Max jets
▼ + stars: | 2024-01-18 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

India’s newest airline is purchasing 150 Boeing 737 Max aircraft, in the first major order the troubled planemaker has announced since the dramatic Alaska Airlines incident in which part of the fuselage of a 737 Max 9 fell off mid-flight. Akasa Air has ordered the 737 Max 10 and 737 Max 8-200 aircraft to be delivered through 2032, the airline said at an event in the southern Indian city of Hyderabad. On Wednesday, the US Federal Aviation Administration said it was expanding its probe to include Spirit AeroSystems (SPR), which builds the fuselage of the 737 Max 9. Akasa Air, which was launched in 2022, is not the only Indian carrier that is buying a lot of Boeing planes. Last year, Air India said it would buy 220 Boeing planes.

Persons: planemaker, Max, ” Stephanie Pope, Ethopia, Antony Blinken, Vinay Dube, ”, Joe Biden, Narendra Modi Organizations: New, New Delhi CNN, Boeing, Max, Akasa, Alaska Airlines, US Federal Aviation Administration, Economic, Air, Indian Locations: New Delhi, Alaska, Indian, Hyderabad, Portland , Oregon, Indonesia, Wells, Washington, Davos, Switzerland, India, Air India

☆ The FAA’s 737 Max probe just widened to include Spirt Aerosystems
▼ + stars: | 2024-01-17 | by ( Pete Muntean | Curt Devine | ) edition.cnn.com time to read: +4 min

Washington CNN —The US Federal Aviation Administration is expanding its probe into Boeing 737 Max 9 quality control following this month’s in-flight blowout of a part of an Alaska Airlines plane. In a new statement released Wednesday, the FAA says it is now investigating contractor Spirit AeroSystems, which builds the fuselage of the Boeing 737 Max 9. Spirit Aerosystems did not immediately respond to a request for comment. The FAA says all 171 Boeing 737 Max 9s in the United States remain grounded, the agency has received new data from preliminary inspections of 40 of those airplanes. Spirit Aerosystems’ history of troubleShareholders of Spirit AeroSystems last year filed a federal lawsuit against the company, accusing it of “widespread and sustained quality failures” in its products.

Persons: Spirit, Boeing “, Aerosystems, “, Max, Spirit AeroSystems, Lever, Joe Buccino, AeroSystems, ” Organizations: Washington CNN, US Federal Aviation Administration, Boeing, Max, Alaska Airlines, FAA, NTSB, Spirit, ” Locations: United States

☆ 2024 will be a perilous year for the world economy as geopolitical tensions ramp up, top economists warn
▼ + stars: | 2024-01-17 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Top economists are fretting about geopolitical tensions, according to a World Economic Forum survey. AdvertisementThe year 2024 will likely be a stormy one for the global economy as growth slows and geopolitical tensions ramp up around the world, according to a World Economic Forum survey. More than half the respondents said the world economy will get weaker this year, and 70% predicted looser financial conditions – implying that they believe central banks, including the US Federal Reserve, will start lowering interest rates at some point in 2024. Advertisement"Amid accelerating divergence, the resilience of the global economy will continue to be tested in the year ahead," WEF managing director Saadia Zahidi said. "Though global inflation is easing, growth is stalling, financial conditions remain tight, global tensions are deepening and inequalities are rising."

Persons: they're, Ray Dalio, Jamie Dimon, —, Saadia Zahidi, JPMorgan Chase, aren't Organizations: Service, US Federal Reserve, JPMorgan, Sunday Times, Bridgewater Associates Locations: Swiss, Davos, Ukraine, China, Chicago

☆ Argentina’s Milei tells Davos ‘heroes’ how it should be done
▼ + stars: | 2024-01-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

“The Argentine economy is in such bad shape that it has to be shaken up. President Milei and his team are doing exactly that,” she said during an interview in Davos. He has also devalued Argentina’s currency. However, some of Milei’s measures, such as the devaluation, are also likely to stabilize Argentina’s economy in the medium term, Sperrfechter said. Among his most radical plans, Milei has pledged to ditch the peso as Argentina’s official currency and replace it with the US dollar.

Persons: London CNN —, ” “, ” Javier Milei, ”, Milei, Juan Peron, Kristalina Georgieva, CNN’s Richard Quest Wednedsay, Milei’s, Kimberley Sperrfechter, Sperrfechter, It’s Organizations: London CNN, Economic, Council, Foreign Relations, Reuters, International Monetary Fund, IMF, Argentine, Capital Economics, CNN, “, US Federal Reserve Locations: Davos, Switzerland, Argentina, Argentine, US, “ Argentina

☆ UK inflation posts first rise in almost a year
▼ + stars: | 2024-01-17 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —UK inflation accelerated in December for the first time since February last year, official data showed Wednesday. Core inflation, which strips out volatile food and energy prices, remained stuck at 5.1%, while services inflation increased from 6.3% to 6.4%. The UK data mirrors the trend in the United States and Europe of slight upticks in headline inflation. Energy prices could also rise if the conflict in the Middle East escalates further. Still, several leading UK economists shrugged off the latest increase in inflation, noting that inflation could return to the Bank of England’s 2% target by the spring, helped by recent falls in energy prices.

Persons: Grant Fitzner, shrugged, ”, Roger Barker, Yael Selfin Organizations: London CNN —, National Statistics, Reuters, US Federal Reserve, European Central Bank, Bank of England’s, Institute of, KPMG, Bank of England Locations: United States, Europe, Red

☆ Boeing is adding more 737 airplane inspections as company says it's 'clear that we are not where we need to be'
▼ + stars: | 2024-01-16 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +2 min

Read previewBoeing is introducing more quality assurance measures in its production process for 737 aircraft following a nightmare Alaska Airlines flight on one of the planes last week. "But, the AS1282 accident and recent customer findings make clear that we are not where we need to be." AdvertisementBoeing will open its factories for inspection to airlines that use 737 planes, and the company is bringing in a third party to conduct an independent review of its quality management system, Deal added. The US Federal Aviation Administration has since grounded all Boeing 737 Max 9 planes with that component until it decides they can safely return to operation. Alaska Airlines said Saturday that it's starting a "thorough review of Boeing's production quality and control systems" and will also "enhance our own quality oversight of Alaska aircraft on the Boeing production line."

Persons: —, Stan Deal Organizations: Service, Alaska Airlines, Business, Boeing Commercial Airplanes, Management, Boeing, US Federal Aviation Administration, Max, FAA, Alaska

☆ Boeing’s stock tumbles after report warns investigation will open ‘a whole new can of worms’
▼ + stars: | 2024-01-16 | by ( David Goldman | ) edition.cnn.com time to read: +8 min

The Wells Fargo report, entitled “FAA audit opens up a whole new can of worms,” noted that Boeing’s quality control and engineering problems have been ongoing for years. After part of an Alaska Airlines] 737 Max 9 jet fell off the plane mid-flight, the likelihood of the US Federal Aviation Administration coming out of its investigation without significant findings was very low. The FAA last week opened an investigation into Boeing’s quality control after the Alaska Airlines incident. He also said Boeing is now more closely monitoring the work of a key supplier that builds the 737 Max fuselage. Wells Fargo analysts noted in their report that the FAA investigation could take some time to complete, noting many of its probes remain “under investigation” months after the original incidents.

Persons: Wells, ”, Max, Boeing “, Kirkland H, Donald “, Donald, David Calhoun, Stan Deal, Deal, Mike Whitaker, Calhoun, Jennifer Homendy, United Airlines —, —, Pete Muntean, Chris Isidore, Ramishah Maruf Organizations: New, New York CNN, Boeing, Wall, FAA, Alaska Airlines, US Federal Aviation Administration, NTSB, US, CNN, National Transportation, United Airlines Locations: New York, Portland , Oregon, Alaska, United, Indonesia, Ethiopia

After an anemic showing in the Iowa caucuses, long-shot GOP presidential candidate Asa Hutchinson abandoned his bid for the presidential nomination Tuesday, saying he was “driving back to Arkansas” and suspending his campaign. And he angered GOP primary voters with his criticism of Trump. "Asa Hutchinson would have been a relevant and potentially competitive presidential candidate in the pre-MAGA era. In mid-November, Hutchinson crowed about making the Michigan GOP primary ballot, suggesting he was in it for the long haul. Hutchinson was one of the most outspoken GOP critics of Trump.

Persons: Asa Hutchinson, ” Hutchinson, Donald Trump, Ron DeSantis, Nikki Haley, DeSantis, Haley, Hutchinson, –, Bill Clinton, Trump, MAGA, David Cohen, Hutchinson's, Cohen, Ryan Binkley, Mike Pence, Rob Burgess, Chris Christie, who’s, “, ” Organizations: Hawkeye State, Republican, Trump , Florida Gov, South Carolina Gov, Florida, Trump, Department of Homeland Security, Drug, Republican Party, GOP, University of Akron, Des, Register, NBC, Suffolk University, Boston Globe, USA, Michigan GOP, New, New Jersey Gov, Florida Republican, Summit Locations: Iowa, Arkansas, Hawkeye, Trump , Florida, New Hampshire, Congress, U.S, Michigan, Miami, New Jersey, Kissimmee

☆ Funny highway signs are banned starting this week. Womp, womp.
▼ + stars: | 2024-01-15 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

Read previewSome highway signs crack jokes, use puns, or riff off Taylor Swift lyrics to remind drivers to be safe. A New Jersey Department of Transportation roadside safety sign features a pun about cannabis. Use Yah Blinkah" on highway signs in Boston. States including New Jersey, Ohio, and Massachusetts have leaned into crafting quirky, funny, or holiday-themed messages. Courtesy of the Ohio Department of TransportationThe Arizona Department of Transportation even holds an annual competition for new traffic safety messages.

Persons: —, Taylor Swift, Michael Dwyer, “, Elise Riker, Sam Cole Organizations: Service, Business, Federal Highway Administration, New Jersey Department, Transportation, Massachusetts Department of Transportation, State, Ohio Department of Transportation, Ohio Department of Transportation The Arizona Department of Transportation, Street Journal, Colorado's Department of Transportation Locations: Boston, New Jersey , Ohio, Massachusetts, Arizona, Colorado

☆ Judge delays sentencing for Mississippi police 'goon squad' that tortured and sexually assaulted two Black men
▼ + stars: | 2024-01-10 | by ( Associated Press | ) www.businessinsider.com time to read: +2 min

Read previewA federal judge has, for the second time, postponed sentencing for six former Mississippi cops who pleaded guilty to a long list of state and federal charges for torturing two Black men. Sentencing had been set to begin on January 16, but a court hearing schedule shows that US District Judge Tom Lee has pushed back sentencing to March 19. In October, he granted motions from some former officers to delay sentencing after their attorneys said they needed more time to evaluate sentencing reports and prepare objections. The men admitted in August to subjecting Michael Corey Jenkins and Eddie Terrell Parker to numerous acts of racially motivated, violent torture. AdvertisementProsecutors say some of the officers called themselves the "Goon Squad" because of their willingness to use excessive force and cover up attacks.

Persons: —, Tom Lee, Michael Corey Jenkins, Eddie Terrell Parker, Jenkins, Parker, Brett McAlpin, Hunter Elward, Christian Dedmon, Jeffrey Middleton, Daniel Opdyke, Joshua Hartfield Organizations: Service, Mississippi, Business, Rankin County, Associated Press, Prosecutors Locations: Rankin, Richland

☆ How Mark Cuban forced the biggest US pharmacy to upend its business
▼ + stars: | 2023-12-05 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

The new program includes a set markup for medication costs, a step toward drug pricing transparency. The retailer has been facing pressure from new models like Mark Cuban Cost Plus Drugs. They've been especially focused on pharmacy-benefit managers and the lack of transparency around how much drugs cost. How Mark Cuban changed drug pricingCuban's pharmacy buys drugs directly from manufacturers and sells them to consumers at a 15% markup, plus pharmacy fees. AdvertisementBut the announcement looks to be a step in the right direction for drug pricing transparency.

Persons: —, Mark, Prem Shah, Mark Cuban, GoodRx, PBMs, Kroger, it's Organizations: CVS, Cuban, Plus, Service, Mark Cuban, Federal, US Federal Trade Commission, CVS Health, Kroger, Walgreens, Drug, Wall Street Locations: California

He said that, in a second Trump administration, “We will go out and find the conspirators not just in government, but in the media,” over the 2020 election, which Trump lost to Democrat Joe Biden. Trump has also promised “retribution” as a central part of his campaign message as he seeks a second term in the White House. Trump’s campaign distanced itself from Patel’s comments in a sharply worded statement, saying that proclamations “like this have nothing to do with” them. The campaign did not respond to questions about whether Trump is considering the plans Patel described. The Trump campaign did not respond to a question about whether Patel was being considered for a role as CIA director.

Persons: —, Donald Trump, ” Kash Patel, Steve Bannon's, Trump, “, Democrat Joe Biden, ”, Patel, Bannon, Joe Biden, Josef Stalin, Jill Colvin Organizations: Department, Defense Department, National Security Council, Democrat, Center, Trump, NBC, MSNBC, “, WIN, News Media, CIA, Associated Press Locations: America, Soviet, United States, USA, Lago, Florida, Bedminster, New York

☆ Gold prices have never been this high
▼ + stars: | 2023-12-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —Gold prices hit an all-time high Monday, buoyed by growing expectations of interest rate cuts among investors, a weaker dollar and geopolitical tensions. “This has created a more favorable environment for gold as a non-yielding asset.”John Reade, a market strategist at the World Gold Council, an association of gold producers, told CNN that, with investors predicting several rate cuts over the next year, gold prices could “quite possibly” shoot above Monday’s record high. Since gold is priced in US dollars, the fall in the greenback’s value has made it less expensive for investors outside the United States to buy the metal, which should have boosted demand and, in turn, lifted gold prices. Gold prices have risen 10% so far this year. According to the World Gold Council, central banks in emerging markets bought 473 metric tons (521 tons) of gold a year on average between 2010 and 2021.

Persons: ebbs, Daria Efanova, ” John Reade, Jamie Dimon, ” Reade, “, Reade, ” Organizations: London CNN —, US Federal Reserve, Treasury, Sucden, World Gold Council, CNN, Interactive Investor Locations: United States, Russia, Ukraine, Israel, Gaza, China, South China, Taiwan, Russian

CNN —US federal prosecutors have charged an Indian national in an alleged murder-for-hire plot to try to assassinate a Sikh political activist in New York City, according to an indictment unsealed Wednesday. Sikh activist Hardeep Singh Nijjar was murdered in Canada in June, and the Canadian government said it had credible information linking India to the murder. People stomp on an Indian flag and a cutout of Indian prime minister Narendra Modi during a Sikh rally outside the Indian consulate in Toronto to raise awareness for the Indian government's alleged involvement in the killing of Sikh separatist Hardeep Singh Nijjar in British Columbia on September 25, 2023. Cole Burston/AFP/Getty ImagesNijjar and Pannun were associates, US prosecutors say, as they were both leaders of the Sikh separatist movement. The Indian official gave Gupta Pannun’s home address, phone numbers and details on his daily activities, prosecutors allege.

Persons: Nikhil Gupta, Gurpatwant Singh Pannun, Gupta, “, ” Pannun, Hardeep Singh Nijjar, Narendra Modi, Cole Burston, Pannun, Nijjar, Nijjar “, – Organizations: CNN, Justice, Indian, Getty Locations: New York City, New York, India, Czech Republic, Canada, Toronto, British Columbia, AFP

☆ Bill Ackman says the US economy faces a real risk of a 'hard landing' if the Fed doesn't cut interest rates soon
▼ + stars: | 2023-11-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Bill Ackman said in a Bloomberg podcast he expects the US Federal Reserve to cut rates soon. He said the US economy risks a sharp downturn if the Fed doesn't cut interest rates soon. AdvertisementBill Ackman expects the US Federal Reserve to cut rates as early as the first quarter of next year. The Fed needs to cut interest rates soon to avoid a sharp downturn in the US economy, the billionaire investor said on Bloomberg's "The David Rubenstein Show: Peer-to-Peer Conversations." The Fed has raised interest rates 11 times since March 2022 in an effort to cool soaring inflation.

Persons: Bill Ackman, —, David Rubenstein, That's, Ackman, Rubenstein, There's Organizations: Bloomberg, US Federal Reserve, Service, Carlyle Group, Deutsche Bank, European Central Bank, UBS Locations: Israel, Swiss

WASHINGTON (AP) — The Supreme Court is hearing arguments in a challenge to the Securities and Exchange Commission's ability to fight fraud, part of a broad attack on regulatory agencies led by conservative and business interests. Circuit Court of Appeals ruled in favor of Jarkesy and his Patriot28 investment adviser group on three separate issues. And it said laws shielding the commission’s administrative law judges from being fired by the president are unconstitutional. Jarkesy's lawyers noted that the SEC wins almost all the cases it brings in front of the administrative law judges but only about 60% of cases tried in federal court. A decision upholding the 5th Circuit's ruling could sweep far more broadly, calling into question the authority of administrative law judges at numerous federal agencies, the Justice Department said.

Persons: Biden, George R, Jarkesy, ”, Jennifer Walker Elrod, Andrew Oldham, Elrod, George W, Bush, Donald Trump, Eugene Davis, Ronald Reagan Organizations: WASHINGTON, Securities, Exchange, SEC, Circuit, Oldham, Justice Department Locations: New Orleans

☆ Make these 5 investments as stocks climb to record highs in 2024, according to top strategists at Bank of America and BMO Capital Markets
▼ + stars: | 2023-11-28 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

COVID), and active funds are hugging their benchmarks," Subramanian wrote in a note about her 2024 outlook. "We're bullish not because we expect the Fed to cut, but because of what the Fed has accomplished," Subramanian wrote. BMO Capital MarketsBofA analysts are calling for slower inflation, better profit margins, and improved efficiency, Subramanian wrote. BMO is less optimistic about energy stocks since they've lagged behind oil prices in the last year. Consumer discretionary is a strong bet if interest rate hikes are over and consumers keep spending, Subramanian wrote.

Persons: Brian Belski, Belski, Savita Subramanian, Subramanian, Bank of America BMO's Belski, he's, boomers, BofA Organizations: Bank of America, BMO Capital Markets, Business, BMO, Federal Reserve, " Bank of, Energy, BMO isn't Locations: Ukraine, Israel

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