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RIYADH — Franklin Templeton CEO Jenny Johnson said the firm is focused on doing right by its clients, in her first public comments after the company saw its worst quarter for financial outflows in its history and the Securities and Exchange Commission started a probe into suspicious trading at its fixed-income unit. Franklin Templeton's fixed-income business has also dealt with years of underperformance, which many investors expected to reverse course as money moves into bonds and other fixed-income products, which make up about 30% of the firm's assets. Johnson told CNBC Wednesday that the issue with Western Asset Management was damaging, but stressed that it stemmed from an isolated case, and that supporting clients was Franklin Templeton's top focus. "We've had an issue at Western which is isolated to an individual and a subset of strategies, but there's definitely been outflows in those strategies," Johnson told CNBC's Dan Murphy in Riyadh. "I mean, the good news — Western has a significant amount of other strategies that are outside of this and have a lot of global clients there, but we've definitely been hurt by the issues on those three strategies."
Persons: Franklin Templeton, Jenny Johnson, Ken Leech, Franklin Templeton's, Johnson, Franklin, We've, CNBC's Dan Murphy Organizations: Securities and Exchange Commission, Western Asset Management, SEC, Financial Times, CNBC Wednesday, Franklin Templeton's Locations: RIYADH, California, outflows, Riyadh
CNN —The Perseverance rover spotted a quick glimpse of a cosmic “googly eye” on Mars during a recent solar eclipse. The Perseverance rover, currently ascending the western wall of Jezero Crater, captured a video of the partial eclipse, which resembled a googly eye, on September 30. Previous images includes a video taken by the Curiosity rover in 2019 and photo that the Opportunity rover snapped in 2004. Astronomer Asaph Hall discovered Mars’ two moons, Phobos and Deimos, in 1877. The Japan Aerospace Exploration Agency’s Martian Moons eXploration mission, or MMX, intends to solve some of those enduring riddles.
Persons: , Asaph, Mars, MSSS, , Rick Welch, Perseverance’s, Hazel Hill Organizations: CNN, NASA, Opportunity, Japan Aerospace Exploration, JPL, Caltech, ASU, Jet Propulsion Laboratory Locations: Mars, Pasadena , California
Urbazon | Istock | Getty ImagesSwitzerland could be at risk of slipping into deflationary territory next year, as a stronger Swiss franc beleaguers policymakers' efforts to get a handle on price growth. The central bank also revised down its forecasts, putting the average annual inflation rate for 2024 at 1.2% from 1.3%, while projecting price increases will grow by 0.6% in 2025, compared with a previous outlook of 1.1%. Foreign exchange (FX) interventions take place when a bank buys or sells its currency in the FX market to raise or lower its value against another currency. Swiss inflation has meanwhile continued to fall. In March, with inflation at 1.2%, the SNB become the first major Western central bank to cut interest rates.
Persons: Thomas Jordan, Adrian Prettejohn, Sophie Altermatt, Julius Baer, Prettejohn, Jordan Organizations: Istock, Getty, Swiss National Bank, Capital, Capital Economics, CNBC, FX Locations: Bern, Switzerland, Adrian Prettejohn Europe, Europe
Zelenskyy said most of the aid the US passed for Ukraine in April hasn't got to Ukraine. He said 10% of the $61 billion aid package had made it so far. AdvertisementUkrainian President Volodymyr Zelenskyy questioned why much of the latest US aid package had yet to reach Ukraine, saying it had so far received 10%. The $61 billion package was approved in April after monthslong delays and pushback from House Republicans. Lithuanian Foreign Minister Gabrielius Landsbergis said in August that Ukraine may have to wait until 2027 to receive some Western aid.
Persons: Zelenskyy, hasn't, , Volodymyr Zelenskyy, Joe Biden, Gabrielius Landsbergis Organizations: Ukraine, GOP, Service, House Republicans, Reuters, NATO, Department of State, Lithuanian, US, US Department of Defense, Ukraine's Ministry of Foreign Affairs Locations: Ukraine, Russia, Russian
Hello Kitty made her commercial debut the next year, appearing on a line of vinyl coin purses alongside several other new characters. There’s not much that doesn’t suit her… I think that when everyone talks to Hello Kitty, she probably answers them in some way.”Sales of Hello Kitty products flourished in Japan between the 1980s and mid-1990s. A North Korean child wears a Hello Kitty hairpin at a primary school in the country's capital, Pyongyang, in 2011. Hello Kitty superfan Asako Kanda shows CNN a room in her home that is dedicated to Hello Kitty. Daniel Campisi/CNNAfter more than 36 years of collecting, Kanda still buys around two Hello Kitty items every month.
Persons: Sanrio, Kitty White, Kitty, Pokémon, Mickey Mouse, Yuko Shimizu, , Bob Levey, Yuko Yamaguchi, Shimizu, Setsuko Yonekubo, Yamaguchi, Yoshikazu Tsuno, Kitty —, Tiny, , Feng Li, Kanda, Daniel Campisi, Kitty’s, Beyblade —, Atsuo Nakayama, Astrid Stawiarz, , ” Atsuo, Eduardo Verdugo Organizations: CNN, UNICEF, Japan’s Foreign Ministry, George Bush Intercontinental Airport, Sanrio’s, Getty, , New York Times, America, Wall Street, Netflix Locations: London’s, Kitty’s, Houston , Texas, Sanrio’s Tokyo, Tokyo, AFP, San Francisco, Japan, Korean, Pyongyang, San Jose, New York City, London, American, America, Mexico City
President Harris would probably put more pressure on Israel to reach a cease-fire and open up talks with the Palestinians. Ukrainians worry that a President Trump would force a quick and dirty peace deal favorable to Russia. They hope a President Harris would continue to support them on the battlefield. Under President Harris, that would probably mean continuity with the Biden administration policies that have become much more restrictive over time. Migrants from all over the world pass through Mexico to get to the U.S. border, and the United States can’t control the flow of migrants without Mexico’s assistance.
Persons: Israel Patrick Kingsley, Harris, Trump, Benjamin Netanyahu, Ukraine Anton Troianovski, Volodymyr Zelensky, Vladimir V, Putin, Biden, China Keith Bradsher, NATO Steven Erlanger, United States doesn’t, “ I’m, Ana Swanson, Donald Trump, haven’t, South Africa John Eligon, Biden —, Harris —, Mexico Natalie Kitroeff, Somini Sengupta Organizations: Trump, U.S, Manufacturing, NATO, The Times, Global, United, Biden Locations: Jerusalem, Israel, Gaza, Iran, Russia, Ukraine, Moscow, United States, America, Europe, China, Beijing, Taiwan, Japan, South Korea, Philippines, India, , Hungary, Italy, Germany, South Africa, Johannesburg, Africa, Zambia, Indian, Brazil, Ethiopia, BRICS, Mexico, Mexico City, U.S
AdvertisementThe US is on the cusp of a lithium boom after years of laying the groundwork for an electric-vehicle supply chain that doesn't rely on China. The three sites, expected to come online between 2026 and 2028, would massively increase the US's lithium supply. A Tiehm's buckwheat plant in Esmeralda County, Nevada, grows beside where the Rhyolite Ridge lithium-boron mine is planned. AdvertisementRowe said Ioneer redesigned the Rhyolite Ridge mine to limit its footprint in the critical habitat of the endangered wildflower, Tiehm's buckwheat. The Biden administration, in issuing the permit for the mine, said it would not jeopardize the flower's survival.
Persons: , Biden, Bernard Rowe, VCG, Rowe, Karl Friedhoff, Robyn Beck, Thacker, Ioneer, brines Organizations: Service, EV, Atlantic Council, Chicago Council, Global Affairs, House, Biological Diversity, Biden, Western Shoshone Defense, AP, Resources, Survey Locations: Nevada and California, China, Nevada, Thacker, Australia, South America, Chile, Argentina, Shanghai İnternational Port, Asia, Japan, India, Ioneer, California, Texas, Shoshone, Esmeralda County , Nevada, Oregon, Arkansas
We retired early 14 years ago and moved abroad because the US was too expensive. We set our sights on Cuenca, Ecuador, which has moderate weather and is super walkable. Our cost of living is much lower now and we love living here. We can walk everywhereWalkability was huge on our retirement wish list, and Cuenca has been a dream. Cuenca's weather is fantasticAnother feature high on our retirement wish list was a temperate climate.
Persons: , Cynthia Staton, We've Organizations: Service, Social Locations: Cuenca, Ecuador, Las Vegas
BRUSSELS, Belgium — The European Union is imposing duties on imports of electric vehicles from China starting Wednesday after talks between Brussels and Beijing failed to find an amicable solution to their trade dispute. According to the commission, which manages trade disputes on behalf of the 27 E.U. member countries, sales of Chinese-built electric cars jumped from 3.9% of the EV market in 2020 to 25% by September 2023, in part by unfairly undercutting E.U. Other EV manufacturers in China, including Western companies such as Volkswagen and BMW, would be subject to duties of 20.7%. The measures were published in the bloc’s legal Official Journal late Tuesday, meaning duties entered into force as of midnight, said E.U.
Persons: we’re, Valdis Dombrovskis, undercutting, , Hildegard Müller, VDA, ” Müller, E.U, Arianna Podesta Organizations: Trade Organization, SAIC, Geely, Volvo, Britain’s MG, EV, Volkswagen, BMW, China’s Commerce Locations: BRUSSELS, Belgium, China, Brussels, Beijing, Germany
It is clear what Russia stands to gain from an influx of some 10,000 North Korean troops to aid its war in Ukraine. North Korean troops are expected to help with that. North Korea, for its part, needs a partner that will shield it from the United Nations Security Council as it pursues its nuclear ambitions. “North Korea is trying to get as many benefits as it can from this relationship,” said Edward Howell, an expert on North Korea at the Chatham House think tank. “If thousands of North Korean troops learn how to survive on a battlefield full of drones,” Gabuev said, “that is a lesser problem than North Korea having quieter nuclear-capable submarines.
Persons: Kim Jong, Kim, Vladimir Putin, ” Alexander Gabuev, Russia —, Mark Rutte, NBC’s Keir Simmons, Putin, ” Putin, didn’t, ” Gabuev, Kim Jong Un, Mikhail Metzel, , Edward Howell, , Gabuev Organizations: West, Carnegie Russia Eurasia Center, NBC News, Pentagon, Ukraine, NATO, Vostochny, Getty, Yonhap News Agency, United Nations Security Council, Chatham House, . Security Locations: Russia, Ukraine, Europe, Asia, United States, North Korea, Berlin, , West, Russia’s Kursk, Moscow, Ukrainian, Kursk, Washington, Kazan, Pyongyang, Korea, North Korean, AFP, South Korea, Seoul
They have IRAs, savings accounts, and an investment portfolio to help during retirement. Like most people, I didn't really start thinking about retirement until I was past my mid-40s. With no house or vehicle payments, utilities, or property taxes, our investment income exceeds our budgeted monthly living expenses. Outside of that, we have our IRAs, savings accounts, and a small self-directed investment portfolio. Life Is What You Make ItLooking back, I wish I'd started sooner, but I was fortunate.
Persons: Chris Mott, couldn't, Mott, , I'm, Chris, Kim, Dodge, I've, It's, we've, I'd, Gigi, Papa, Manseen Logan Organizations: Service, Western, Social Security Locations: California, Western United States, Canada, Orange County, Yorba Linda, Vancouver , Washington, Orange, Lake Havasu, mlogan
Gold's record-breaking rally may have even more room to run, according to Goldman Sachs. Analyst Lina Thomas forecasts the commodity will rise around 10% by December 2025, hitting the $3,000 threshold in that period. After advancing to a fresh record last week , spot gold reached an all-time high on Wednesday. "We still see significant hedging value in long gold positions in geopolitical or macroeconomic scenarios that are less friendly for equity-bond portfolios than our soft landing base case," she wrote. That said, she anticipates demand moderation could also allow for more upside.
Persons: Goldman Sachs, Lina Thomas, Thomas Organizations: U.S Locations: Russia, Ukraine, London
Franklin Templeton CEO addresses reports of record outflows
  + stars: | 2024-10-30 | 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 EmailFranklin Templeton CEO addresses reports of record outflowsJenny Johnson, Franklin Templeton CEO, discusses the U.S. Securities and Exchange Commission's probe into Western Asset Management, a subsidiary of the company.
Persons: Franklin Templeton, Jenny Johnson Organizations: U.S . Securities, Exchange, Western Asset Management
Editor’s Note: Curator and art historian Alayo Akinkugbe is CNN Style’s guest editor for the month of November. The child is tucked away in the bottom left-hand corner, but in the mind of curator and art historian Alayo Akinkugbe, his presence fills the entire frame. But Akinkugbe holds a magnifying glass over these slim fragments, off-cuts of the dominant whitewashed narrative of art history, and forces them to take up space. “I think a lot of it was down to the fact that (art history) is viewed as an elite, white field. The coincidence at times feels “sinister” for Akinkugbe, but she believes there is longevity in the increased interest in and support for Black art and artists.
Persons: Alayo Akinkugbe, London CNN — Dante Gabriel Rossetti’s, , Rossetti, Akinkugbe, Bélizaire, Jacques Amans ’, Dante Gabriel Rossetti, De Agostini, Tate, , weren’t, ” Akinkugbe, Polly Alakija, Pius Utomi Ekpei, , Chris Ofili, Lee Pretious, George Floyd Organizations: CNN, London CNN, National Gallery, Royal Academy of Arts, Opera, Getty, University of Cambridge, Cambridge, New York Times Locations: London, Lagos, Nigeria, , Falomo, Benin, AFP, Nigerian, British
The only player previously to reach those totals in a game was Oscar Robertson, who did it twice in 1962. In total, four Nuggets players hit the 20-point mark and six scored in double figures. The Nuggets have now played in two straight OT games on back-to-back nights after Monday night’s win over the Toronto Raptors. The Slovenian finished with 24 points, eight rebounds and eight assists, while backcourt partner Kyrie Irving had 35 points, four rebounds and five assists. Warriors win without injured Steph CurryThe Golden State Warriors rallied from a 20-point deficit in the first half to earn a big 124-106 win over the New Orleans Pelicans without injured star Steph Curry.
Persons: Nikola, Jokić, Oscar Robertson, Aaron Gordon, Jamal Murray, Russell Westbrook, “ It’s, it’s, ” Jokić, Dennis Schröder, Cam Thomas, Cameron Johnson, Luka Dončić, Dončić, Irving, David Berding, , ” Dončić, Karl, Anthony Towns, Julius Randle, Donte, Anthony Edwards, Randle, Steph Curry, Andrew Wiggins, Buddy Hield, Lindy Waters, Henderson, Steve Kerr, Waters, “ I’ve, ” Kerr, It’s, ” Curry, Zion Williamson, Brandon Ingram Organizations: CNN, Denver Nuggets, Brooklyn Nets, Nuggets, night’s, Toronto Raptors, Nets, Seven Nets, Mavericks, Timberwolves Minnesota Timberwolves, Dallas Mavericks, Timberwolves, Western, ESPN, Warriors, Golden State Warriors, New Orleans Pelicans, The Warriors, Getty, Clippers, Pelicans, Golden State, Brooklyn Nets Dallas Mavericks, Minnesota Timberwolves New Orleans Pelicans, Golden State Warriors Sacramento Kings, Utah Jazz Locations: Brooklyn, Slovenian, absense
Ford CEO Jim Farley is a big fan of Xiaomi's SU7 EV — and it just got a major upgrade. The Chinese tech giant unveiled the SU7 Ultra, a high-performance electric car with a max speed of 350km per hour. AdvertisementFord CEO Jim Farley's favorite Chinese EV just got a major upgrade. Speaking on a podcast last week, Ford CEO Farley praised Xiaomi as an "industry juggernaut" and said he was a big fan of the SU7. AdvertisementWestern automakers like Ford are under pressure from Chinese electric car makers, which are expanding rapidly worldwide.
Persons: Jim Farley, , Jim Farley's, Xiaomi, Farley, Lei Jun, it's, I've, Tesla, Elon Musk Organizations: , Service, Ford, Citibank Locations: China, presale, Shanghai, Chicago
The office building of biopharmaceutical company AstraZeneca is being seen in Shanghai, China, on May 23, 2024. AstraZeneca 's China president is under investigation and is cooperating with Chinese authorities, the company said on Wednesday, sending shares down as much as 5.3%. When asked about Wang's whereabouts, a company spokesperson only reiterated that the executive was under investigation. In a statement, the drugmaker said its Chinese operations were "under the leadership of the current general manager of AstraZeneca China," without providing further details. AstraZeneca shares were down 5.2% at 1352 GMT.
Persons: Leon Wang Organizations: AstraZeneca Locations: Shanghai, China, drugmakers, United States, AstraZeneca China
A gold ingot and gold coins are seen in this illustration picture taken November 17, 2017. "Gold is very much being anchored on the U.S. election outcome ... "If we see hot inflation numbers or a strong jobs report, then there could be a derailment in gold prices," Wong added. In addition, Goldman Sachs lowered its gold forecast from $3,080 to $3,000 by December 2025, but maintained its bullish stance. On the retail front, Indian gold buyers overlooked record high prices, purchasing for the Dhanteras and Diwali festivals, hoping for continued price rallies amid a cooling stock market.
Persons: Gold, Kelvin Wong, OANDA, Donald Trump, Kamala Harris, Wong, Friday's, Goldman Sachs Organizations: U.S, Asia Pacific, U.S . Labor Department
Experts told BI that all three companies face slumping EV sales and brutal competition in China. BMW and Mercedes-Benz have issued profit warnings in recent weeks amid slumping EV sales in Europe and brutal competition in China, while Volkswagen is also facing a reckoning. German carmakers are losing out to Chinese EV makers such as BYD. She added that Mercedes, BMW, and Volkswagen offer comparatively few hybrid and extended-range vehicles — categories that have proven extremely popular in China. Slow sales in EuropeAt the same time, Germany's automakers are also dealing with a slowdown in EV sales in Europe.
Persons: , Arno Antlitz, Mercedes, Hendrik Schmidt, Daniel Pier, Getty Images Helena Wisbert, Wisbert, Matthias Schmidt, Tesla, JENS SCHLUETER, that's Organizations: BMW, Mercedes, Benz, Service, Volkswagen, Wednesday VW, VW, dpa, China Passenger Car Association, Getty Images, Ostfalia University, Getty, European Union, Volkswagen Group, UBS Locations: Germany, China, Europe, North America, South America, China —, AFP
Eric Schmidt says drones are the future of warfare, calling the use of tanks "useless." AdvertisementEx-Google CEO Eric Schmidt said future wars will be fought by AI-powered drones, and urged the US military to do away with what he called "useless" tanks. In fact, buy 10, buy 20, buy 50, buy 100." Related Video Russian vs. Western-made tanks in the Ukraine warFor almost a decade, Schmidt has advised the US government and military on technology. AdvertisementAsked about the Russia-Ukraine conflict, Schmidt said he had been surprised by innovations in drone technology.
Persons: Eric Schmidt, Schmidt, , He's, Sebastian Thrun, Forbes Organizations: Service, Future Investment Initiative, Department of Defense's Innovation, US National Security, Artificial Intelligence, Stanford University, Troops Locations: Ukraine, Saudi Arabia, Russia, Russian
AdvertisementChina's warplanes are pressuring Taiwan and have all but eliminated an important dividing line, with near-daily incursions creating a dangerous new normal. Since 2020, Taiwan has released regular, almost daily updates on incursions in its air defense identification zone by Chinese military aircraft. In 2021, the Chinese military flew 972 aircraft into Taiwan's ADIZ, and that number nearly doubled in 2022. "We've become desensitized to high numbers of the military aircraft flying across the median line of the Taiwan Strait," Shattuck told Business Insider. AdvertisementChinese incursions are tiring out Taiwan's forcesThe near-daily ADIZ incursions aren't just changing the status quo in the area; they're also exhausting Taiwan's military.
Persons: , Thomas J, Shattuck, Benjamin Lewis, They're, Nancy Pelosi, We've, hasn't, Lai Ching, of National Defense Yen Teh, Lewis, Lai, Taiwan's, Amanda Hsiao, GAO Organizations: Service, Foreign, Research, deconfliction, Taiwan, Getty, CAP, People's Liberation Air Force, Taiwan's Military News Agency, Anadolu, Getty Images, People's Liberation Army, of National Defense, Democratic Progressive Party Locations: Taiwan, China, AFP, Taiwan Strait, Taiwan's, Getty Images China, Taipei, Washington, Beijing, Taiwan's ADIZ, United States
CNN has reached out to Terada for comment on the R-FBI’s role in Russian disinformation efforts, and ties to the state. Storm-1516 and R-FBI network members have spread at least 54 different disinformation narratives online since August 2023, according to Clemson and CNN’s analysis. “Does anyone believe that an American would be the spearhead of what some call the biggest Russian Disinformation operation since the cold war? TelegramAnother prominent figure in propagating Russian disinformation is American Tara Reade, a former Senate staffer who in 2020 accused then-presidential candidate Joe Biden of sexual harassment. The links between Terada’s group and other Russian disinformation efforts are at best opaque, which is likely no accident.
Persons: , Yevgeny Prigozhin, Wagner, Mira Terada, Kamala Harris, Tim Walz, Harris, Walz, Morgan Finkelstein, “ Vladimir Putin, Donald Trump, Trump, , Win McNamee, ” Darren Linvill, Patrick Warren, , Biden, Warren, Kamala, Influencers, John Mark Dougan, Dougan, he’s, Andrew Harnik, MAGA, IMbaMm8YVF, Darren Linvill, Linvill, ” Clemson, Maxim Shugaley, Terada, Vladimir Putin’s “, ” Prigozhin, Konstantin Pridybaylo, Ruslan Ostashko, Colin Gerard, Gerard, Alexander Dugin, picturing, Tara Reade, Joe Biden, Reade, ” Chay Bowes, Simeon Boikov, podcaster, Bowes, ” Warren, Sean Lyngaas, influencers Organizations: CNN, Clemson University’s, Russian Foundation, FBI, Storm, Democratic, Minnesota Gov, Clemson, Getty, NBC, Wired, Prigozhin’s, Internet Research Agency, Miami Chronicle, Boston Times, DC, IRA, Russian, Gov, National Intelligence, US State Department, Minnesota, Apple, Trump, Infrastructure Security Agency, , Federal Bureau, Investigation, Kremlin, Wagner Group, US Justice Department, ANO Dialog, BRICS Journalists Association, Washington Post, Center, Forensics Locations: Russian, Ukraine, West, San Francisco, Zambia, Savannah , Georgia, , , American, Zambian, St . Petersburg, Florida, Moscow, Russia, Kazakhstan, Minnesota, Philadelphia , Pennsylvania, Bucks County , Pennsylvania, Bucks County ,, French, Irish, Sydney, European
In Michigan, Harris holds a lead over Trump by 48% to 43% among likely voters. Among those likely voters who say they’re extremely motivated to vote in Michigan, 51% support Harris to 45% for Trump. In Wisconsin, they break 52% Harris to 47% Trump, and in Pennsylvania, they divide 50% for Harris to 47% for Trump. Harris holds a wider lead among Black voters in Michigan (83% Harris to 12% Trump) than she does in Pennsylvania (76% Harris to 21% Trump). Likely voters include all registered voters in the poll weighted for their predicted likelihood of voting in this year’s election.
Persons: Kamala Harris, Donald Trump, Harris, Joe Biden, Robert F, Kennedy, Jr, Trump, , that’s, Elissa Slotkin, Mike Rogers, Pennsylvania’s Democratic Sen, Bob Casey, Dave McCormick’s, Democratic Sen, Tammy Baldwin, Republican Eric Hovde’s, Harris ’, Biden Organizations: CNN, Electoral College, SSRS, Trump, White House, Trump ., White, Harris, Black, Keystone State, Suburban, Michigan Democratic, Republican, Pennsylvania’s Democratic, Senate, Democratic Locations: Michigan, Wisconsin, Pennsylvania, Trump . In Michigan, Trump . In Wisconsin, Trump, Michigan , Pennsylvania, Southern, Western
CNN —China has a new richest person – and it’s the entrepreneur behind the wildly popular, and controversial, app TikTok. Zhang Yiming, 41, co-founder of TikTok’s parent company ByteDance, topped the 2024 Hurun China Rich List, released Tuesday. His wealth reached $49.3 billion, as assessed by research, media and investment group Hurun Inc, which publishes the ranking of the country’s richest people. ByteDance also holds China’s popular news app Toutiao and Douyin, TikTok’s sister app in China. Billionaires on the declineOverall, the number of US-dollar billionaires in China shrank to 753, down 142 from the previous year.
Persons: Zhang Yiming, Zhang’s ascendency, Hurun, TikTok, it’s, , Zhang, Liang Rubo, ByteDance, Zhong Shanshan, Zhong, Ma, Rupert Hoogewerf, Organizations: CNN, Hurun Inc Locations: China, India, Britain, Canada, Australia, Beijing, Hong Kong, Macao, Taiwan
The weapon resembles a US sea drone the group captured years ago, analysts told BI. AdvertisementThe Houthi rebels in Yemen have a new torpedo to show off — and it looks familiar. Martin Kelly of the UK advisory firm EOS Risk Group, said the torpedo could derive from a US REMUS 600 drone lost in 2018. Houthi forcesPer Kelly, Iranian scientists could have turned a captive example into a "blueprint" for the homegrown weapon seen this week. He told BI that the torpedo looked like models put on display at an Iranian navy exhibition in Tehran in December 2023.
Persons: , Al Qar'iah, Martin Kelly, REMUS, US REMUS, Per Kelly, Kelly, Mohammed Albasha Organizations: Service, EOS Risk, US MIM, US, US Defense Intelligence Agency, Geneva Graduate Institute, BI, US Navy, Pentagon, Drewry Locations: Iran, Yemen, US, Russia, Ukraine, Tehran, Iranian, Red, Israel, Gaza, Albasha
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