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☆ Futuristic designs unveiled for ‘world’s greenest highway’
▼ + stars: | 2024-07-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +10 min

Not content with Dubai having the tallest building, the deepest pool or the highest hotel, urban design firm URB hopes to add one more superlative feather to the city’s cap: the world’s “greenest” highway. The green highway, pictured in this render, would also include a network of footpaths and green community spaces. URB‘A unique set of challenges’Creating the world’s “greenest” highway in a desert city isn’t easy, though. Pictured in this rendering, designs for the Nexgen Sustainable City, which URB has designed for Cairo. URB A Dubai developer is creating green designs for the city Prev NextAn urban utopiaThis isn’t URB’s first foray into utopian future city design.

Persons: URB, Sheikh Mohammed Bin Zayed, Baharash, ” Bagherian, ”, Baharash Bagherian, ’, Bagherian, — Organizations: CNN, Dubai, United Arab Emirates, European Union, “, Hub, Agri Locations: Dubai, ”, “ Dubai, URB “ Dubai, UAE, Hong Kong, URB, Yiti, Oman, Yas, Abu Dhabi, Cairo, City

☆ Armani and Dior probed in Italy following worker exploitation claims
▼ + stars: | 2024-07-17 | by ( Hanna Ziady | Lauren Kent | ) edition.cnn.com time to read: +3 min

London/Rome CNN —Italy’s competition authority is investigating whether Armani and Dior have misled consumers about their production processes, following reports that local companies in their supply chains pay workers too little and force them to work long hours. The firms are being investigated for possible “unlawful” conduct in the marketing and sale of clothes and accessories, in violation of Italy’s Consumer Code, it noted. Many mainstream fashion brands have long faced allegations of exploitative working conditions in their supply chains. The probe comes after Milan prosecutors accused several Chinese-owned firms in Italy, producing luxury goods for Dior and Armani, of systematically abusing their employees, Reuters reported. Armani has denied the allegations levied by the competition authority, but said it would cooperate with the latest investigation.

Persons: Rome CNN —, Armani, Dior, Dior “, “ Organizations: Rome CNN, Armani Group, Dior Group, ”, Dior, Reuters, CNN Locations: Rome, Europe, Milan, Italy

Villagers watch the sunset over a small lagoon near the village of Tangintebu on South Tarawa in the central Pacific island nation of Kiribati May 25, 2013. CHINESE INTEREST AS WESTERN BANKS EXIT"The proposed World Bank project is a creative way of addressing the challenge of de-risking and small scale in Pacific Island countries," said Lalita Moorty, the World Bank's East Asia and Pacific director for prosperity. Without access to overseas banks, Pacific countries would struggle to receive remittances - a key component of their economies - welcome holidaymakers or trade with the wider world. "It can create instability for the financial system," said Denton Rarawa, senior economics adviser at the Pacific Islands Forum. "What we're saying is that if you're not going to address concerns and issues we have, Pacific countries will start looking elsewhere for support."

Persons: David Gray, Solomon, Lalita Moorty, Denton Rarawa, Mark Brown, Janet Yellen, Ariff Ali, Lewis Jackson, Lucy Craymer, Ziyi Tang, William Mallard Organizations: REUTERS, Villagers, WELLINGTON, Bank, U.S, Pacific Islands, World Bank, Pacific, ANZ Bank, Westpac, Bendigo Bank, Bank of China, Reuters, Cook, U.S . Treasury, Federal Reserve, Reserve Bank of Fiji, Thomson Locations: Tangintebu, South, Pacific, Kiribati, SYDNEY, Australia, China, Washington, Nauru, Solomon Islands, Taiwan, Beijing, U.S, East Asia, Papua New Guinea, Vanuatu, Tonga, Samoa, Brisbane, Pacific Islands, Sydney, Wellington

☆ OpenAI whistleblowers ask SEC to investigate alleged restrictive non-disclosure agreements
▼ + stars: | 2024-07-13 | by ( Chandni Shah | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File Photo Purchase Licensing Rights New Tab , opens new tabJuly 13 (Reuters) - OpenAI whistleblowers have filed a complaint with the U.S. Securities and Exchange Commission, calling for an investigation over the artificial intelligence company's allegedly restrictive non-disclosure agreements, according to a letter seen by Reuters. The AI company allegedly made employees sign agreements that required them to waive their federal rights to whistleblower compensation, according to the letter. The whistleblowers requested the SEC to fine OpenAI for each improper agreement made to the extent the agency deemed appropriate. The whistleblowers alleged that OpenAI issued overly restrictive employment, severance and non-disclosure agreements to its employees, which could have led to penalties against workers who raised concerns about OpenAI to federal authorities. The letter also asked the SEC to require OpenAI to produce every contract that contained a non-disclosure agreement, including employment agreements, severance agreements and investor agreements for inspection.

Persons: Dado Ruvic, Sen, Chuck Grassley, OpenAI, Grassley, Sam Altman, Chandni Shah, Jonathan Landay, Franklin Paul, Diane Craft Organizations: REUTERS, U.S . Securities, Exchange Commission, Reuters, SEC, Washington Post, Security, Thomson Locations: Bengaluru, Washington

☆ The return of Wayne LaPierre: in 2nd NY trial, NRA's former 'king' fights for the right to resume some role at gun lobby
▼ + stars: | 2024-07-12 | by ( Laura Italiano | ) www.businessinsider.com time to read: +8 min

NRA lawyers pointed to his sudden, mid-trial resignation as welcomed proof of a "course correction." New York Attorney General Letitia James wants Wayne LaPierre barred from resuming any financial role at the NRA. The NRA also hasn't ruled out the possibility of paying for LaPierre's continued legal fees, James' lawyers said. Despite leaving these millions of dollars in LaPierre repayments on the table, NRA lawyers are arguing that they are hemorrhaging money. For the NRA, James is asking Cohen to appoint an independent monitor who would audit and oversee the association to ensure donor money is safe.

Persons: —, Wayne LaPierre, LaPierre, Letitia James, James, Kent Correll, Correll, It's, Wilson, Woody, Phillips, Joel Cohen, what's, John Frazer —, LaPierre's, hasn't, Scott Nichols, Cohen, Jonny Frank, Charles Cotton, Douglas, Nick Suplina Organizations: Service, National Rifle Association, Business, NRA, New York, New, Brady United, Gun Safety Locations: New York, —, Manhattan, That's, United States

☆ Opinion: How worried should you be about plane turbulence? This flight attendant has advice
▼ + stars: | 2024-07-12 | by ( Opinion Heather Poole | ) edition.cnn.com time to read: +7 min

CNN —As a flight attendant for over 28 years, I’ve had my fair share of bumpy rides. Heather Poole courtesy Heather PooleI’ve spent a lot of time telling them that I wouldn’t be a flight attendant if I felt flying were unsafe. Lately I’ve noticed flight attendants are quicker to stop the service when we begin to experience light turbulence. If you’re a fearful flier and have anxiety, let a flight attendant know, and we’ll go out of our way to check on you if things get bumpy. And once again, Ladies and Gentlemen, a reminder from your flight attendant: Keep your #@$%&!

Persons: Heather Poole, Read, I’ve, Heather Poole I’ve, I’m, I’d, haven’t, there’s, I’ll, Heather Poole What’s, they’ve, doesn’t, it’s, Buckle, we’ll Organizations: Passengers, CNN, Singapore Airlines, Gentlemen Locations: Rocky, New York, Los Angeles

☆ Student-loan borrowers are entering a new 'Wild West' where any form of debt relief is much less certain
▼ + stars: | 2024-07-11 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Read previewLegal challenges against student-debt relief efforts continue, making the fate of millions of borrowers all the more uncertain. When it comes to higher education, the ruling will impose more barriers on regulations that are particularly controversial, like efforts to forgive student debt. The Education Department is working on finalizing its second attempt at a broader debt relief plan, which it hopes to implement this fall. But striking down Chevron could pose even more barriers to debt relief and many higher education regulations borrowers rely on. After the Supreme Court's Chevron ruling, Sen. Bill Cassidy — top Republican on the Senate education committee — sent a letter to Education Sec.

Persons: —, Chevron, Jon Fansmith, Fansmith, Joe Biden, haven't, It's, Neal Hutchens, Sen, Bill Cassidy —, Miguel Cardona, Cassidy, Hutchens Organizations: Service, Business, American Council, Education, Higher, Education Department, Chevron, of Educational Policy, University of Kentucky, Republican, Sec Locations: Chevron

☆ Treasury, IRS announce 'major milestone' of $1 billion in past-due taxes collected from millionaires
▼ + stars: | 2024-07-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Internal Revenue Service Commissioner Danny Werfel testifies before the House Appropriations Committee on Capitol Hill in Washington, May 7, 2024. The U.S. Department of the Treasury and the IRS on Thursday announced what they called a "major milestone" of collecting more than $1 billion in tax debt from high-income individuals over the past year. "The IRS has collected $1 billion from millionaires and shown that it can successfully launch strategic new initiatives and achieve the greatest return on investment," Treasury Secretary Janet Yellen told reporters during a press call. The infusion of IRS funding, enacted via the Inflation Reduction Act in 2022, still has its critics, however, particularly among congressional Republicans. "During the past decade, the IRS didn't have the resources or staffing to pursue high-income earners who our compliance team knew owed taxes," IRS Commissioner Danny Werfel said during the press call.

Persons: Danny Werfel, Janet Yellen, Biden Organizations: Revenue, Capitol, U.S . Department of, Treasury, IRS, Finance Locations: Washington

☆ Dollar General settles with the Labor Department over workplace safety violations
▼ + stars: | 2024-07-11 | by ( Ece Yildirim | In Ecedyildirim | ) www.cnbc.com time to read: +3 min

The U.S. Department of Labor announced a settlement Thursday with Dollar General , requiring the retailer and its subsidiaries to pay $12 million in penalties and implement significant workplace safety improvements in its more than 19,000 stores nationwide. Gun violence has also been an issue for Dollar General stores: 49 people have been killed and 172 people have been injured at Dollar General stores by gun violence, according to 2023 data from nonprofit Gun Violence Archive. A repeat offender with the Department of Labor, Dollar General became the first company to be added to OSHA's "severe violators" of workplace safety rules list in 2023, after the agency expanded the reach of its safety enforcement program. The settlement with the Department of Labor also requires Dollar General to monitor outcomes of those efforts and provide quarterly reports to OSHA. CNBC has reached out to Dollar General for additional comment.

Persons: Health Douglas Parker Organizations: U.S . Department of Labor, Dollar, federal, Safety, Health Administration, Violence, Department of Labor, Occupational Safety, Health, Safety Operations Center, OSHA, CNBC Locations: Tennessee

☆ Citi has 12,000 employees dedicated to pleasing regulators and fixing the bank's broken tech. It is going terribly.
▼ + stars: | 2024-07-11 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In hopes of regaining compliance, CEO Jane Fraser bulked up a firm-wide initiative to overhaul the bank's technology. The head count for the so-called "Transformation" program has soared to 12,000 from some 3,000 since 2021, according to earnings reports. Citi's technology shortcomings are old news, according to Wells Fargo analyst Mike Mayo. Kathleen Martin, former interim data transformation chair, is suing the bank and Anand Selvakesari, the bank's chief operations officer who oversees Transformation.

Persons: —, Jane Fraser bulked, Wells, Mike Mayo, Mayo, Fraser, We're, We've, Jane Fraser, SAUL LOEB, Janney Montgomery Scott, Timothy Coffey, Kathleen Martin, Anand Selvakesari, Martin, Selva, Hayley Cuccinello Organizations: Service, Citigroup, Citi, Business, Federal Reserve Board, Revlon, OCC, Citi —, Federal Reserve, Reuters Locations: Wells Fargo, United States, Selva, hcuccinello@businessinsider.com

☆ Chiseled gladiators, tight leather pants, and copious amounts of olive oil: Inside Turkey’s ancient oil wrestling festival
▼ + stars: | 2024-07-10 | by ( Scott Mclean | Umut Sevdi Tangor | ) edition.cnn.com time to read: +7 min

He pours a bottle filled with a mixture of water and olive oil into the pants, and then with a few firm tugs on the waistband and a wiggle of the hips, he’s in. Koca is one of hundreds of wrestlers competing at this year’s Kirkpinar Oil Wrestling Festival in northwestern Turkey. The sport is similar to regular wrestling, except here, the competitors are covered head to toe in olive oil. Record breakerThe annual Kirkpinar Oil Wrestling Festival has been running for more than 600 years. Participants are doused in olive oil before taking part.

Persons: Cem Tekkesinoglu, Orhan Ghazi, ”, Abdullah Basar, ” Basar, –, Mustafa Kemal Ataturk, Filiz, Ferda Demir, Koca, They’ve, “, Hakan Mehmet Sahin, Basar, ‘ I’ve, ’ ”, I’ve, ” Akin, ” Guray Ervin, Tanem Zaman Organizations: CNN, Turkey CNN, Oil Wrestling, Anadolu Agency, Oil, Getty, Olympic, 663rd, “ Wrestling Locations: Edirne, Turkey, Koca, Anadolu, Republic of Turkey

☆ Ramesh Shukla: How an Indian migrant became the UAE’s ‘royal photographer’ and captured the birth of modern Dubai
▼ + stars: | 2024-07-10 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +7 min

Photographer Ramesh Shukla moved to Dubai in 1965. Sheikh Zayed and Sheikh Rashid watching a camel race in Sharjah, 1968. The next day, he returned to the racetrack and presented the photo to Sheikh Zayed, asking for his blessing — and it changed everything. Sheikh Zayed Bin Sultan Al Nahyan, the late emir of Abu Dhabi, signing the agreement to form the UAE’ on December 2, 1971. Ramesh ShuklaShukla's photos of the UAE's founding fathers (top) and Sheikh Zayed signing (bottom) are featured on the 50 dirham note.

Persons: CNN — “, ” Ramesh Shukla, Shukla, Ramesh Shukla, —, ”, Sheikh Zayed, Sheikh Rashid, Sheikh Zayed Bin Sultan Al Nahyan, Sheikh Rashid bin Saeed Al Maktoum, Neel Shukla, Ramesh’s, “, Tara, Neel, Ramesh, Ajman —, Ras, Khaimah, Neel —, ‘ Papa, ’ ” Organizations: CNN, United Arab Emirates, Ramesh, Emirates, United, UAE ’, Dubai Culture Locations: India, Dubai, Bombay, Mumbai, UAE, Sharjah, States, British, Arabian, Abu Dhabi, “, Umm Al, United Arab, Ras Al, Emirates

☆ Omar Al Marzouqi: The young showjumping sensation carrying the UAE flag into the Olympics
▼ + stars: | 2024-07-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +5 min

Soaring over fences on horseback in Hangzhou, China, last October, Omar Al Marzouqi was jumping into history. Yet Al Marzouqi made it work – with a little help from his sister. Stephen Bartholomew/IPS/ShutterstockShowjumping has always a family affair for Al Marzouqi, who mounted his first pony at just three years old. Just 15 years old at the time, Al Marzouqi was comfortably the youngest rider in the field in Buenos Aires. For Al Marzouqi, continuing that lineage is a privilege.

Persons: Omar Al Marzouqi, Omar, Al Marzouqi, “, ”, Stephen Bartholomew, Showjumping, Steve Guerdat, Ahlmann, I’m, Al, you’ve, ” Al Marzouqi, Helen Cruden, Ahmed Al Maktoum, Sergiu Toma, Al Marzouqi hasn’t, you’d Organizations: CNN, United Arab Emirates, Asian Games, Sorbonne University Abu Dhabi, Youth Olympics, Paris Olympics, UAE, Games, Athens Locations: Hangzhou, China, Abu Dhabi, UAE, Paris, West Sussex, Argentina, Buenos Aires, Montefalco, Italy, Rio

☆ CNBC Daily Open: Are markets overly optimistic?
▼ + stars: | 2024-07-09 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 1, 2023. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. While open to collaboration, Elliott plans to give shareholders a say in leadership changes if the board remains unresponsive. Despite selling $379 million worth of bitcoin in recent weeks, Germany's Federal Criminal Police Office still holds roughly 32,488 bitcoins — worth around $1.9 billion at today's prices.

Persons: Beryl, Elliott, Elliott Management, Bob Jordan, Gary Kelly, Corning, We've, Wendell Weeks, Max Organizations: New York Stock Exchange, CNBC, Nasdaq, Apple, Nvidia, Dow Jones, Treasury, Southwest Airlines, Police, Federal Criminal Police, Boeing, Wall Locations: New York City, U.S, Saxony, Texas

☆ Senators ask DOJ to investigate 'serious possibility of additional tax fraud' by Clarence Thomas
▼ + stars: | 2024-07-09 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +3 min

Read previewTwo Democratic senators have called on Attorney General Merrick Garland to open a special counsel investigation into Clarence Thomas. This story is available exclusively to Business Insider subscribers. Presented with opportunities to resolve questions about his conduct, Justice Thomas has maintained a suspicious silence." AdvertisementA spokesperson for the Justice Department declined to comment on the letter when reached by Business Insider. Thomas has previously denied any wrongdoing, arguing gifts from Crow and others fall under a "personal hospitality exemption," meaning they don't require disclosure.

Persons: —, General Merrick Garland, Clarence Thomas, Sheldon Whitehouse, Ron Wyden, Thomas, Harlan Crow, Mark Martin, Whitehouse, Thomas's, he'd, Crow Organizations: Service, Oregon, Supreme, Business, Judicial Conference, Wyden, Finance, Justice Department, Business Insider Locations: Sens, Rhode Island, Crow

CNN —A United Airlines plane lost a wheel while taking off Monday from Los Angeles International Airport, officials said, marking the latest issue this year for the airline, which was already the focus of a safety review by federal aviation officials. The Boeing 757-200 that lost its wheel completed its planned flight to Denver, where it safely landed, United said. “The wheel has been recovered in Los Angeles, and we are investigating what caused this event,” the airline said in a statement. The incident comes months after another United Airlines flight lost a wheel while taking off from San Francisco International Airport, damaging several cars in a parking lot. The incident was one of at least a dozen involving United Airlines flights in March, according to a CNN analysis, prompting CEO Scott Kirby to send a safety message to customers.

Persons: ”, Scott Kirby, ” United, ” CNN’s Gregory Wallace, Samantha Delouya, Taylor Romine, Sara Smart Organizations: CNN, United Airlines, Los Angeles International Airport, Boeing, Pilots, LAX, bravo, Federal Aviation Administration, San Francisco International Airport, FAA, United, ” Locations: Denver, United, Tulsa , Oklahoma, Los Angeles, Osaka, Japan

☆ Boeing's big mea culpa just dropped and it doesn't look pretty
▼ + stars: | 2024-07-08 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Last week, Bloomberg reported that federal prosecutors had offered Boeing the choice of either accepting the plea deal or risk facing trial. Under the plea deal, Boeing will have to pay a fine of $243.6 million. This is on top of the $243.6 million Boeing had already paid as part of the 2021 settlement it breached. Related storiesPaul Cassell, an attorney for 15 of the victims' families, told BI on Monday that he has filed an objection to the plea deal. "A judge can reject a plea deal that is not in the public interest, and this deceptive and generous deal is clearly not in the public interest."

Persons: —, Paul Cassell, " Cassell Organizations: Service, Boeing, Justice Department, Business, Bloomberg, BI, Max, DOJ, Federal Aviation Administration, Company Locations: Indonesia, Ethiopia

☆ Boeing Agrees to Plead Guilty to Felony in Deal With Justice Department
▼ + stars: | 2024-07-08 | by ( Eileen Sullivan | Danielle Kaye | ) www.nytimes.com time to read: +1 min

Boeing agreed on Sunday to plead guilty to a felony charge of conspiring to defraud the federal government over two fatal crashes of the 737 Max in 2018 and 2019, according to a late-night court filing. The company will be put on probation, supervised by the Federal District Court for the Northern District of Texas, for three years. As part of the probation, the Justice Department will appoint an independent compliance monitor who will make sure that safety measures are in place and followed, submitting annual reports to the government. The decision by Boeing to plead guilty is significant because the company has not been convicted of a federal felony in decades. In the filing, the department described the charge of conspiring to defraud the federal government as “the most serious readily provable offense.”

Persons: Max, —, ” Organizations: Boeing, Federal, Court, Northern, Northern District of, Justice Locations: Northern District, Northern District of Texas

☆ Boeing agreed to plead guilty to a fraud conspiracy charge over the 737 Max saga, but it isn't out of the woods just yet
▼ + stars: | 2024-07-08 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Read previewBoeing has agreed to plead guilty to one count of fraud conspiracy, the Justice Department said in a Sunday court filing. In May, the Justice Department said Boeing failed to "design, implement, and enforce a compliance and ethics program." AdvertisementSunday's plea deal will see Boeing pay an additional $243.6 million — the same criminal penalty as in 2021. Advertisement"This sweetheart deal fails to recognize that because of Boeing's conspiracy, 346 people died," he said in a statement. Government contractsBy pleading guilty to fraud conspiracy, Boeing will have committed a felony — jeopardizing its government contracts.

Persons: —, it's, Paul Cassell, Sunday's, Richard Blumenthal Organizations: Service, Boeing, Justice Department, DoJ, Business, Alaska Airlines, Street Journal, FBI

☆ Amazon's Asian rival Shein wants to be supply chain giant, but some fear Chinese cyber spying inside global trade links
▼ + stars: | 2024-07-08 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +13 min

Shein logistics software is in beta testing with select supply chain customers, according to a person familiar with its plans. "Shein's software could provide unprecedented access to sensitive supply chain data, which the Chinese government could seize under its laws. This exposure poses a direct threat to U.S. supply chain integrity, making it vulnerable to exploitation and manipulation." Even with a headquarters based in Singapore, company supply chain data could be subject to seizure by the Chinese. Shein's fast rise to dominance Shein's dominance lies in the company's hyper-flexible supply chain, according to a recent report from supply chain intelligence firm Zero100.

Persons: Jade Gao, Shein, cybersecurity, Lee Kair, Kair, Dewardric McNeal, McNeal, Ram Ben Tzion, Ben Tzion, Department of Homeland Security's, Shein's, Srini Cherukuri, Chris Xu's, Zero100, Eric Fullerton, Project44 Organizations: Shein, Afp, Getty, Transportation Security Administration, U.S, Authentic Holdings, Simon Property Group, Longview Global, Obama administration's Department of Defense, CNBC, Standards Organization, Secretariat, IAF, Microsoft U.S, EU, Social, International, Uyghur Forced Labor, Department of Homeland, Border Patrol, New York, ITS Logistics, Logistics Locations: Guangzhou, China's Guangdong, Jade, China, U.S, Exiger, Shein, Asia, Singapore, Frankfurt, Germany, Xinjiang Province, Customs, York, United States

☆ A New York City Airbnb host was shut down under the short-term rental law. He's now renting his basement illegally on Facebook and making crucial income after he was laid off.
▼ + stars: | 2024-07-07 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

But they're knowingly violating New York City's new law banning most short-term rentals. To comply with the law, they would need to open up their personal living room and kitchen to their Airbnb guests. Less than a year into enforcement of the near-ban, it's not clear whether New York City is achieving this goal, but it has made hotel rooms more expensive. AdvertisementCrucial income after a layoffAfter the city rejected his application, Paul says he was "pissed off" and decided to find other ways to rent the basement out to short-term guests. AdvertisementHave you been impacted by New York City's short-term rental regulations?

Persons: Paul, they're, helpfully, Airbnbs, he's, He's, OSE, fining, —, Airbnb, wouldn't Organizations: Service, Business, York, Queens, New York, city's, Special Enforcement, Facebook Locations: Astoria , Queens, Astoria, Asia, Europe, New York City, Irvine , California, New York, New

☆ How a New York short-seller took on one of the world's richest people, wiped out $150 billion in market value, and barely made any money
▼ + stars: | 2024-07-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +10 min

Read previewNate Anderson, the chief mind behind activist short-seller Hindenburg Research, has had an eventful past 18 months. AdvertisementDetailed below is the considerable back-and-forth that's taken place since Hindenburg's initial shot across the bow of Adani Group. It cited "numerous examples"of those companies funneling money through private companies owned by Adani, before cash was set to Adani's listed public companies. AdvertisementThe short-seller's investigation also found Adani's private and public companies to have "numerous" undisclosed transactions with other parties, the researchers found, which violates regulatory laws in India. Conflict over Hindenburg's short-selling arrangementIndian regulators have raised specific questions about the structure of Hindenburg's short bet on Adani Group.

Persons: —, Nate Anderson, Gautam Adani, Hindenburg, it's, Anderson, Gautam, Hindenburg's, Adani, SEC —, Kingdon, who's, he's, Nikola, Carl Icahn Organizations: Service, Hindenburg, Business, Group, Adani, Adani Group, Hindenburg Research, The Securities, Exchange Board, SEC, Kingdon Capital Management, Regulators, Lordstown Motors, Icahn Enterprises, New York Times, Times, charlatans Locations: India, Manhattan, Adani, New York

☆ GlobalFoundries races to find semiconductor talent as demand for chips soars
▼ + stars: | 2024-07-05 | by ( Kate Rogers | ) www.cnbc.com time to read: +5 min

The U.S. chips industry is expected face a shortage of 67,000 technicians, computer scientists and engineers by 2030, while the broader U.S. economy is set to have a gap of 1.4 million such workers, according to a 2023 study from the Semiconductor Industry Association. A wafer sorter inside the GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. The company creates chips for everyday products from electronics and phones to autos, in addition to components for space and defense. The GlobalFoundries semiconductor manufacturing facility in Malta, New York, on June 18, 2024. Morgan Woods, 28, started out in Malta, New York, at GlobalFoundries' fab facility as a technician in 2021.

Persons: Cindy Schultz, Lockheed Martin, Pradheepa Raman, Raman, Morgan Woods, Woods, GlobalFoundries Organizations: Semiconductor Industry Association, Deloitte, Bloomberg, Getty, General Motors, Lockheed, CNBC, Workers, GM, U.S Locations: U.S, Malta , New York, New York, Vermont

☆ Termessos: The hidden ‘eagle’s nest’ city that Alexander the Great couldn’t conquer
▼ + stars: | 2024-07-04 | by ( Barry Neild | ) edition.cnn.com time to read: +11 min

Termessos, Turkey CNN —Alexander the Great tried to conquer Termessos but failed. He reputedly called the city an “eagle’s nest.”Later, the Romans had more success in controlling the city. Barry Neild/CNNClimbing higher up the hillside on a rocky path sprouting with fragrant wild sage, there’s more evidence of how sophisticated life in Termessos would’ve been. Further up, the upper city walls give commanding views of the forest below and offer a good vantage point over anyone trying to sneak up for an invasion. In Termessos, the location is particularly significant, as it sits opposite a mountain that was once sacred to the city’s inhabitants.

Persons: Turkey CNN — Alexander the Great, Mount Güllük, Barry Neild, would’ve, ”, Önder Uğuz, he’s, Termessos, We’re, “, Alexander the Great, Termessos would’ve Organizations: CNN, Turkey CNN, agora Locations: Termessos, Turkey, Antalya, That’s, Machu Picchu, Mount

☆ CNBC's Inside India newsletter: An education scandal years in the making
▼ + stars: | 2024-07-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Yet, the system has also exacerbated the social divide between the haves and have-nots, who are confined to the largely abysmal state-run education system. That means entrance tests and examinations are a high-stakes juncture in a person's life. A half-hearted attempt at testing the country's education system in 2021 was aborted when the Covid-19 pandemic hit the country. The company, which offers services ranging from online tutorials to offline coaching, attracted billions of dollars from investors worldwide during the pandemic when online education services were in high demand. One of the companies it bought was an offline test preparation service called Aakash Education Services, which is still expected to IPO this year.

Persons: Firdous Nazir, NurPhoto, Cram, —, Byju's Organizations: Youth Congress, Getty, Testing Agency, Reuters, FIFA, Aakash Education Services Locations: Jammu, Kashmir, India, Kota, Rajasthan, PISA, Kyrgyzstan, Turkish

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