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☆ Lockheed Martin's new compact hypersonic missile enables America's stealth fighters to engage targets at Mach 5 speeds
▼ + stars: | 2024-07-26 | by ( Alex Hollings | Sandboxx News | ) www.businessinsider.com time to read: +12 min

Hypersonic missiles are weapons that are capable of achieving sustained speeds in excess of Mach 5 while maneuvering. It is a true hypersonic weapon that operates and maneuvers in a high-altitude hypersonic regime," Paul Sudlow from Lockheed Martin Missiles and Fire Control previously told Sandboxx News. AdvertisementAdding the Mako missile to America's stealth fightersA render of an F-35 equipped with Mako missiles. Designed in a 'digital engineering ecosystem'A render shows the Mako hypersonic missile in flight. Leon Neal/Getty ImagesOne of the biggest challenges facing the laundry list of hypersonic weapons in active development for the US military is cost.

Persons: —, Lockheed Martin, Mako, Paul Sudlow, Sudlow, Nano Calvo, Northrop Grumman, Rick Loy, Lockheed Martin's, Lockheed, Lockheed Martin Lockheed Martin, Leon Neal Organizations: Service, Mako, Lockheed, US Air Force, US Navy, Business, Lockheed Martin Missiles, Control, Sandboxx, Air, Sandboxx News, EA, AIM, Air Force, Navy, Marine Corps, Getty, US Air, Northrop, Naval News, Visitors, Defense Department, Congressional Locations: Mako, Lockheed Martin Europe, London

☆ Here are Friday's biggest analyst calls: Nvidia, Apple, Tesla, Skechers, Meta, Southwest, Amazon, Sweetgreen, & more
▼ + stars: | 2024-07-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla " Tesla AI Infrastructure 'base' is by far the fastest rising part of its asset base." Morgan Stanley downgrades WW International to equal weight from overweight Morgan Stanley downgraded the company formerly known as Weight Watchers due to concerns about free-cash flow. Morgan Stanley initiates CervoMed as overweight Morgan Stanley said it's bullish on shares of the biotech company. " Morgan Stanley downgrades STMicroelectronics to equal weight from overweight Morgan Stanley downgraded the stock following earnings. Morgan Stanley reiterates Meta as overweight Morgan Stanley said buy the dip in shares of Meta.

Persons: Redburn, Lockheed Martin, Raymond James, Apple, it's, Morgan Stanley, Tesla, Piper Sandler, Alexander, Baldwin, Piper, ALEX, TD Cowen, Morgan Stanley downgrades STMicroelectronics, Baird, Meta, Guggenheim, Oppenheimer, Sweetgreen, Stifel, Jefferies, Rosenblatt Organizations: Deutsche Bank, Airlines, Deutsche, Lockheed, Apple, Citi, Amazon, AMC, International, Dianthus Therapeutics, Meta, " Bank of America, underperform Bank of America, Barclays, Microsoft, Aviation, Security, Nvidia, Qualcomm, Pharmaceuticals Locations: NYC, Brunswick

☆ A major Marvel star returns in 'Deadpool & Wolverine' in an unexpected way, and it might be one of the MCU's most satisfying cameos ever
▼ + stars: | 2024-07-26 | by ( Olivia Singh | ) www.businessinsider.com time to read: +8 min

Read previewWarning: Major spoilers ahead for "Deadpool & Wolverine." "Deadpool & Wolverine" has several noteworthy celebrity cameos, but the film's greatest gift is Chris Evans' return. Chris Evans returns as Johnny Storm/Human Torch, not Steve Rogers/Captain AmericaChris Evans as Johnny Storm/Human Torch in "Fantastic Four." 20th Century FoxIt probably cost Marvel a pretty penny to bring back Evans for his "Deadpool & Wolverine" cameo. For better or for worse, "Deadpool & Wolverine" contains many cameos that are being called fan service.

Persons: —, Chris Evans, Shawn Levy, Ryan Reynolds, Wade Wilson, Deadpool, Hugh Jackman's Logan, Wolverine, Evans, Johnny Storm, Steve Rogers, Captain America Chris Evans, Cassandra Nova, Emma Corrin, Max, Evans —, he's, Pyro, Aaron Stanford, Johnny, Cassandra, who's Charles Xavier's, Fox That's, Wade, urinated, Wade snickers, Captain America, you'll, Jennifer Garner, Elektra, Sam Wilson, Anthony Mackie, Marvel, Reynolds, texted, he'd, Ryan Organizations: Service, Business, Fox, TVA, Marvel Studios, Marvel, MTV News, Entertainment

☆ The Obamas Called Kamala Harris. Cameras Rolled. Hokeyness Ensued.
▼ + stars: | 2024-07-26 | by ( Rebecca Davis O Brien | ) www.nytimes.com time to read: +1 min

Kamala Harris’s dizzying rollout as a presidential candidate somehow pulled off the rare feat of looking organic and organized, fun but without cringe-inducing artifice. Somehow, the Biden-turned-Harris campaign managed to make former President Barack Obama and Michelle Obama, once America’s coolest political couple, sound like parents in a Lifetime movie calling their child at summer camp. Early Friday morning, the Harris campaign posted a video it produced that depicted a phone call from Mr. and Mrs. Obama, which had taken place on Wednesday, in which they gave Ms. Harris their much-awaited endorsement. Mr. Obama’s 5:01 a.m. post of the video on X had more than 50 million views by 2 p.m. The video begins as an offscreen aide hands Ms. Harris a phone, while she is walking backstage at an event in Indianapolis.

Persons: Kamala Harris’s, Harris, Barack Obama, Michelle Obama, Obama, Obama’s Organizations: Biden Locations: Indianapolis

☆ Digital Realty CEO on data centers: North America markets have been largest growth contributors
▼ + stars: | 2024-07-26 | 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 EmailDigital Realty CEO on data centers: North America markets have been largest growth contributorsAndrew Power, Digital Realty CEO, joins 'The Exchange' to discuss how massive spending on AI gives Digital Realty a long-term boost.

Persons: Andrew Power Organizations: Digital, Digital Realty Locations: North America

☆ As Trump Looms, Blinken Aims to Reassure Allies on U.S. Commitment to Asia
▼ + stars: | 2024-07-26 | by ( Edward Wong | ) www.nytimes.com time to read: +1 min

For three and a half years, President Biden and his aides have insisted that the United States is a Pacific power, and that its allies and partners in the region need not worry about Washington’s commitments. Now Secretary of State Antony J. Blinken plans to deliver assurances in person across six nations, his most ambitious trip in the region. Mr. Biden’s announcement last Sunday that he is no longer running for re-election sent shock waves around the world. Many of America’s allies are especially concerned about a second Trump presidency, given that former President Donald J. Trump has constantly declared that those allies are conning the United States into providing military support. They are uncertain if Vice President Kamala Harris, the presumptive Democratic nominee, can beat him in November.

Persons: Biden, Antony J, Blinken, Donald J, Trump, Kamala Harris Organizations: U.S, Trump, Democratic Locations: United States, Pacific, Vientiane, Laos

☆ How Doug Emhoff is amplifying his wife’s historic presidential bid
▼ + stars: | 2024-07-26 | by ( Betsy Klein | ) edition.cnn.com time to read: +9 min

CNN —Confronted with a barrage of negative social media posts from former President Donald Trump aimed at his wife, second gentleman Doug Emhoff eschewed machismo or defensiveness. “That’s all he got?” he said Tuesday of the attacks on Vice President Kamala Harris, the new and historic presumptive Democratic presidential nominee. And Monday, he leaned into a cheerleader role as he introduced the vice president at her Wilmington, Delaware, campaign headquarters. So I think that gives you a fairly good indication of if he now would move into a precedent-setting first gentleman role,” McBride said. “This first gentleman role is being a supportive spouse and understanding better than anyone the administration’s goals and how to go about best achieving that,” she said.

Persons: CNN —, Donald Trump, Doug Emhoff, “, ”, Kamala Harris, Harris, Emhoff, Harris ’, Anita McBride, Laura Bush, Jill Biden, he’ll, David Letterman, Seth Schuster, He’s, Joe Biden, Dobbs, –, ” Emhoff, hyping, you’re, it’s, Kamala, that’s, “ He’s, Capricia Marshall, Obama, Clinton, shirk, ” Marshall, CNN’s Dana Bash, I’m, Bash, ” McBride, Marshall, CNN’s Arlette Saenz, Jeff Zeleny Organizations: CNN, Democratic, Georgetown Law, –, Jewish Democratic Council of America, Jewish, White, House Locations: England, Yarmouth , Maine, Nantucket, Vineyard , Massachusetts, Paris, Wausau, Stevens Point , Wisconsin, McLean , Virginia, Wilmington , Delaware, United States, United States of America, Israel

☆ Watch Friday's full episode of Fast Money — July 26, 2024
▼ + stars: | 2024-07-26 | 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 — July 26, 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

☆ What JD Vance's rise tells us about the influence of Peter Thiel — and Silicon Valley in the age of Donald Trump
▼ + stars: | 2024-07-26 | by ( Peter Kafka | ) www.businessinsider.com time to read: +12 min

Without Peter Thiel, Vance does not get anywhere near the US Senate. And in Silicon Valley, the conservative movement is much stronger, and more muscular than it was before. AdvertisementThere's this narrative, promoted by people like Thiel, that Silicon Valley is super-liberal. Because Silicon Valley has conservative roots in addition to roots in the counterculture. AdvertisementLike I said, the liberal nature of Silicon Valley has always been sort of overplayed.

Persons: —, I'm, Donald Trump, Vance, Peter Thiel —, Max Chafkin, who's, Thiel, Peter Thiel's, Trump, JD Vance, Narya, It's, supercharge, Bill Pugliano, David Sacks, Peter Thiel, revel, that's, he's, Elon Musk, Marc Andreessen, They're, Elon Musk's, Apu Gomes, Steve Jobs, Ben Horowitz Organizations: Service, Republican, Trump, Business, Bloomberg Businessweek, Republican National Convention, YouTube, Ohio Senate, The, Thiel, Twitter Locations: Silicon Valley, Mithril, Narya, Ohio, West Coast, —, America, Silicon, San Francisco

☆ PepsiCo is using robotics and AI-powered crop planning to transform its supply chain
▼ + stars: | 2024-07-26 | by ( John Kell | ) www.businessinsider.com time to read: +6 min

PepsiCo says it's two-thirds of the way done with an overhaul of its supply chain. This article is part of "The Future of Supply-Chain Management," a series on companies' manufacturing and distribution strategies. With more automation, workers are doing fewer physical tasks, like driving a forklift, and far more oversight of the machines taking over those tasks. Workers at manufacturing facilities and distribution centers and the unions that represent them often bristle at automation, which can lead to layoffs. Even as it has invested in automation, PepsiCo's total workforce has swelled: It grew by 20%, to 318,000, over the five years that ended in 2023.

Persons: it's, —, Gregg Roden, he'd, Roden, Athina, Campbell, Kanioura Organizations: PepsiCo, Chain Management, Service, Gatorade, Frito, Microsoft, Workers, Tyson Foods, Food, McKinsey Locations: Doritos, North America

☆ FBI seeking to interview Trump as part of assassination attempt investigation
▼ + stars: | 2024-07-26 | by ( Evan Perez | Alayna Treene | ) edition.cnn.com time to read: +2 min

CNN —The FBI is seeking to interview former President Donald Trump in its investigation of the assassination attempt to obtain a victim statement — a standard part of the investigation because he is a crime victim, according to a US official. Trump has said he “took a bullet for democracy,” and attacked Wray on Truth Social over his testimony. The hospital called it a ‘bullet wound to the ear,’ and that is what it was. No wonder the once storied FBI has lost the confidence of America!,” Trump posted. “Anyone who believes this conspiracy bullsh*t is either mentally deficient or willfully peddling falsehoods for political reasons,” Trump adviser Steven Cheung told CNN.

Persons: Donald Trump, Christopher Wray’s, there’s, Trump, “, Wray, ” Trump, Steven Cheung, John F, Kennedy, Kimberly Cheatle Organizations: CNN, FBI, Trump, Capitol, Trump’s, Republicans

We've got you covered if you're looking for how to get tickets to Chappell Roan's 2024 tour. Chappell Roan 2024 tour scheduleIncluding 12 shows in North America, there are still 21 concert dates remaining in Chappell Roan's 2024 tour. How to buy tickets for Chappell Roan 2024 concert tourYou can purchase original tickets for Chappell Roan's 2024 tour on Ticketmaster or for her festival appearances through each festival's respective personal site. How much are Chappell Roan tickets? Vivid Seats offers comparable prices for resale tickets to Chappell Roan's 2024 tour dates.

Persons: Chappell Roan, Roan, We've, Chappell, Rogers, she'll, Chappell Roan's Organizations: Business, Princess, Austin City Limits, Midwest Princess, Chappell, Austin City Limits Music, Ticketmaster, Music, Arts Festival, Vivid Locations: Europe, North America, New York City, Columbia , Maryland, Franklin , Tennessee, Rogers , Arkansas, Bluffs , Iowa, Austin, London, Texas, Chicago, Montreal, Canada, St, Charles, San Francisco , CA, Berlin, Germany, Paris, France, Amsterdam, Netherlands, Manchester, England, Glasgow, Scotland, Dublin, Ireland, Forest Hills , New York, Columbia, Franklin, TN, San Francisco

☆ Bill Ackman's IPO of Pershing Square closed-end fund is postponed, NYSE says
▼ + stars: | 2024-07-26 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Billionaire investor Bill Ackman is postponing the highly scrutinized listing of Pershing Square's U.S. closed-end fund, according to a notice on the New York Stock Exchange's website. The initial public offering of Pershing Square USA Ltd., with the ticker PSUS, has been delayed until a date to be announced, according to the website. Pershing Square declined to comment further. Most of its capital is in Pershing Square Holdings, a $15 billion closed-end fund that trades in Europe. The publicly traded closed-end fund is expected to invest in 12 to 24 large-cap, investment-grade, "durable growth" companies in North America.

Persons: Bill Ackman, Pershing, Ackman, — CNBC's Leslie Picker Organizations: Pershing Square's U.S, New York Stock, Pershing, USA, Pershing Square Holdings, New York Stock Exchange Locations: Europe, North America

☆ These 10 U.S. states are America's best-prepared for climate change and extreme weather
▼ + stars: | 2024-07-26 | by ( Scott Cohn | ) www.cnbc.com time to read: +12 min

Some states are particularly vulnerable to climate risks, but these ten states are most ready for what Mother Nature has in store. 2024 Infrastructure Score: 276 out of 425 points (Top States Grade: A+) Climate Extremes Index: 14.9% Properties at risk: 96% Renewable energy: 24% 8. 2024 Infrastructure Score: 189 out of 425 points (Top States Grade: C-) Climate Extremes Index: 22.12% Properties at risk: 34% Renewable Energy: 77% 2. While a large percentage of Idaho properties are susceptible to climate risk, the danger of flooding is relatively minimal. 2024 Infrastructure Score: 195 out of 425 points (Top States Grade: C) Climate Extremes Index: 16.54% Properties at Risk: 90% Renewable Energy: 78% 1.

Persons: Jeremy Porter, Pete Buttigieg, Maria Lehman, Nature, Marli Miller, Justin Sullivan, Wolfgang Kaehler, Matt McClain, Randy Olson, Forester John Erixson, Kirby Lee, Jared Polis, Mario Tama, Rushmore, Idaho Neil Lincoln, Brownlee, Robert Gauthier, William, Marcia Lee, David Becker Organizations: First Street Foundation, Infrastructure Law, Transportation, CNBC, American Society of Civil Engineers, First, Atmospheric Administration, U.S . Department of Energy, Oregon Solar, UCG, Getty, Oregon Department of Energy, Washington, Cedar, Bio Energy Washington, Lightrocket, Washington Department of Commerce, Clean Energy Fund, New, Washington Post, Energy, Nebraska, Nebraska Forest, Colorado, University of Colorado, California, Energy Department, Dakota, Idaho Power, Los Angeles Times, Idaho Locations: Louisiana, States, Oregon, Valley , Oregon, Arizona, Phoenix , Arizona, Maricopa County, Phoenix, King, King County , Washington, United States, New Mexico, Mora , NM, Nebraska, Loup, Taylor , Nebraska, Boulder , Colorado, Palm Springs , California, California, Texas, South Dakota, Cavan, Iowa, Idaho, Nevada, Las Vegas

☆ Donald Trump to honor slain supporter and those injured during assassination attempt in Pennsylvania
▼ + stars: | 2024-07-26 | by ( Eric Bradner | Kit Maher | ) edition.cnn.com time to read: +3 min

CNN —Donald Trump said Friday he plans to return to Butler, Pennsylvania – the place where the former president survived an assassination attempt nearly two weeks ago – for a rally that will honor slain supporter Corey Comperatore and those injured in the shooting. Trump’s right ear was bloodied, and he appeared days later at the Republican National Convention in Milwaukee wearing a large white bandage over the injured ear. Trump and his allies used the Republican convention to deliver calls for unity in the wake of the assassination attempt. “What a day it will be – fight, fight, fight!” Trump said Friday in his social media post announcing the Butler rally. US Secret Service Director Kimberly Cheatle resigned this week amid scrutiny of security lapses related to the assassination attempt.

Persons: Donald Trump, Corey Comperatore, Trump, Corey, Comperatore, Butler, –, ” Trump, Christopher Wray, Kimberly Cheatle, ” Cheatle, “, ” Organizations: CNN, Republican National Convention, Secret Service, Republican, Democratic, Capitol, FBI, Trump, Secret Locations: Butler , Pennsylvania, Butler, Pittsburgh, Milwaukee

☆ These 10 U.S. states are America's least-prepared for climate change and extreme weather
▼ + stars: | 2024-07-26 | by ( Scott Cohn | ) www.cnbc.com time to read: +13 min

In 2021, Maryland adopted a ten-year Climate Adaptation Resilience Framework aimed at making the state's infrastructure more sustainable by 2030. 2024 Infrastructure Score: 230 out of 425 points (Top States Grade: B) Climate Extremes Index: 62.44% Properties at risk: 100% Renewable Energy: 14% 9. 2024 Infrastructure Score: 235 out of 425 points (Top States Grade: B) Climate Extremes Index: 62.44% Properties at risk: 54% Renewable Energy: 4% 5. 2024 Infrastructure Score: 246 out of 425 points (Top States Score: B+) Climate Extremes Index: 39.82% Properties at risk: 14% Renewable Energy: 5% 4. 2024 Infrastructure Score: 179 out of 425 points (Top States Grade: D+) Climate Extremes Index: 48.6% Properties at risk: 100% Renewable Energy: 6% 1.

Persons: There's, Jeremy Porter, Maria Lehman, Governor Moore, Sarah L, Voisin, Ming Li, Wes Moore, Baltimore's Francis Scott Key, Kevin Dietsch, Danielle Villasana, Joseph Prezioso, Pennsylvania Al Walker, Audrey, Jeff Swensen, Drew Koch, Zbigniew Bzdak, Aaron Wilson, Joe Biden, Lady Jill Biden, Peter Zay, Winter Storm Lorraine, Anibal Martel, Louisiana Farmer Chad Hanks, Justin Sullivan, John Bel Edwards, Jeff Landry, Lokman Organizations: NOAA National Centers for Environmental, First Street Foundation, U.S, Infrastructure, American Society of Civil Engineers, Companies, CNBC, First, Atmospheric Administration, U.S . Department of Energy, Maryland, Preparedness, Washington Post, University of Maryland Center, Environmental, Gov, Energy, Delaware Contractors, Army Corp of Engineers, Texas, Lone Star State, Climate Center, Georgetown University, The, New, New Hampshire Workers, AFP, Getty, Environmental Protection Agency, University of New, Pennsylvania, Grow, Keystone, Pennsylvania Department of Environmental, Chicago Tribune, The Buckeye State, Mississippi Residents, Anadolu, Connecticut Municipal, Winter, Constitution, Connecticut Department of Public Health, Louisiana, NOAA, Task Force, Republican Gov Locations: U.S, States, , Maryland, Silver, Maryland, Montgomery, Chesapeake, Bethany Beach , Delaware, Delaware, Houston , Texas, , Texas, The Texas, New Hampshire, Nashua , New Hampshire, University of New Hampshire, Grow Pittsburgh, Braddock , Pennsylvania, Pittsburgh, Midwest, Ohio, Sandusky, Lake Erie, Erie, Mississippi, Rolling, United States, Connecticut, Hartford Area , Connecticut, Kaplan , Louisiana, Louisiana, Jersey, Lodi , New Jersey

☆ Kamala Harris: How her warp-speed campaign launch has changed the 2024 race
▼ + stars: | 2024-07-26 | by ( Eric Bradner | ) edition.cnn.com time to read: +15 min

CNN —The five days since Vice President Kamala Harris’ campaign launched at warp speed have remade the 2024 race – and given Democrats new hope of preventing a second Donald Trump presidency. Fundraising exploded, with Harris’ campaign saying she raised $126 million between Sunday afternoon and Tuesday evening. And Democrats were more eager to devote their own time to working to elect Harris: More than 100,000 people signed up to volunteer for her bid, and more than 2,000 applied for campaign jobs, Harris campaign chair Jen O’Malley Dillon said in a Wednesday memo. The strength of Harris’ launch has at times surprised even the former Biden campaign staffers who on Sunday suddenly found themselves working for what was converted into the Harris campaign. Biden’s campaign believed his path to 270 Electoral College votes ran through the “blue wall” states – Michigan, Pennsylvania and Wisconsin.

Persons: Kamala Harris ’, Donald Trump, Harris, Harris ’, Jen O’Malley Dillon, Trump, It’s, Ron Bieber, “ I’ve, ”, she’s, Joe Biden, Biden, Harris hasn’t, “, Base Andrews, O’Malley Dillon, Biden’s, ” O’Malley Dillon, Douglas Emhoff, Erin Schaff, Howard University hoodie, –, Nancy Pelosi’s, dispirited, fraudsters, cheaters, ” Harris, Donald Trump’s, Charli XCX, ‘, ’, Jared Polis, Maxwell Frost, Tony Evers, ” Evers, ” Trump, Felita Daniels Ashley, Olivia Jessup, Anger, Natalie Jauch, Charli, Jessup, Taylor Swift, Kesha, ” Jessup, Kevin Mohatt, ” CNN’s Alison Main, Betsy Klein, Ebony Davis, Sam Fossum, Edward, Isaac Dovere, Lisa Respers Organizations: CNN, Democratic Party, Trump, Michigan AFL, Democratic, Biden, Convention, ABC, Base, Republican, CNN’s, New York Times, Siena, Electoral, Air Force, Joint Base Andrews, Naval Observatory, Howard University, Federal, San, Democratic National Convention, Democratic Colorado Gov, ”, Milwaukee, Heritage Foundation, California Democrat, Zeta Phi Beta, of Education, “, American Federation of Teachers Locations: Houston, Gaza, – Michigan, Pennsylvania, Wisconsin, Sun, Arizona, Georgia, Nevada, North Carolina, Maryland, Wilmington , Delaware, San Francisco, California, British, ” Florida, Milwaukee, “, West Allis , Wisconsin, Indianapolis, America, Lisa Respers France

☆ Why the Fed won't cut rates until December, according to Bank of America
▼ + stars: | 2024-07-26 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +1 min

The Federal Reserve will wait until December to cut interest rates, Bank of America economists say. The forecast runs counter to consensus, with 90% of investors expecting a first cut in September. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn a Thursday research note, Bank of America reiterated its prediction for rate cuts to begin in December, even with a majority of investors expecting one in September. Meanwhile, 90% of investors expect a cut in September, according to the CME FedWatch tool.

Persons: BofA, — Organizations: Federal, Bank of America, Service, Business

☆ LMVH and other global luxury brands are hurting as Chinese shoppers rein in spending
▼ + stars: | 2024-07-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN —The value of some of the world’s best-known luxury companies is plunging as Chinese consumers pull back on spending, with even the most exclusive brands feeling the pain. The rout seems to be accelerating, with those sales tumbling 14% in the second quarter, according to results published late Tuesday. “For now, the (luxury) market remains volatile as investors reassess the once-held belief that luxury brands are a safe-haven investment, shielded from broader economic downturns,” Jochen Stanzl, chief market analyst at CMC Markets, told CNN. “The Chinese market contracted slightly; the market situation in the premium and luxury segment in China remained weak,” the company said. China’s economy grew 4.7% year-on-year in the second quarter of the year, according to official data released last week, missing economists’ expectations and marking the weakest growth since the first quarter of 2023.

Persons: Bernard Arnault’s, Louis Vuitton, Christian Dior, ” Jochen Stanzl, Richemont, Cartier, ”, Gucci, Kering, Hermes, Birkin, Olesya Dmitracova Organizations: London CNN, Prada, CMC Markets, CNN, Europe’s, Reuters, Porsche, Benz, Bain & Company Locations: Asia, Japan, China, Paris, Hong Kong, China , Hong Kong, Macao, North America, Europe, United States

☆ They moved to the US from India. The transition was hard but they've grown to love the work-life balance.
▼ + stars: | 2024-07-26 | by ( Ana Altchek | ) www.businessinsider.com time to read: +4 min

"I had no reason to move here because my whole family, everyone was back in India," Bajaj said. She said interviews in India focus on past experience, while in the US, you are expected to sell yourself and talk about what you can bring to the table. In India, she said work place was very much a "community" where her coworkers were her best friends. Bajaj and Shah said they both had to learn the boundaries of professionalism in the US. Advertisement"You can do 18 hours of work in India because all you are doing is working," Bajaj said.

Persons: —, Priya Bajaj, Bajaj, Bajaj's, Darshan Shah, Shah, it's, hadn't Organizations: Service, Google, Sony Pictures, Business, Bajaj Locations: India, Mumbai, America

☆ Sam Altman, under fire from Elon Musk, has now offered his own vision of open-source AI
▼ + stars: | 2024-07-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI CEO Sam Altman has a vision for open-source AI, and it's not far from what the company's former cofounder, Elon Musk, has been asking for. But what's notable in Altman's proposal was how he highlighted the role open-source AI models could have in strengthening America's hold on the field. AdvertisementTo be sure, Musk also has some reservations about how open AI models should be. Advertisement"I believe that open source is necessary for a positive AI future," Zuckerberg wrote in a blog post on the same day. "There is an ongoing debate about the safety of open source AI models, and my view is that open source AI will be safer than the alternatives.

Persons: —, Sam Altman, it's, Elon Musk, Altman, Altman's, Musk, pummeling Altman, OpenAI, OpenAI's, Ilya Sutskever, Sutskever, Musk didn't, Mark Zuckerberg, Meta, Zuckerberg Organizations: Service, The Washington, Business, Google, Microsoft, OpenAI, Business Insider

☆ Disney is among the most oversold stocks on Wall Street. Here are the others
▼ + stars: | 2024-07-26 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

Several companies appear oversold this week and could be due for a rebound after a wild week on Wall Street. Stocks with a 14-day RSI reading below 30 often indicate that it's oversold, with a potential rebound possible ahead for the company's shares. Here are some of the most oversold names: Dexcom is the most oversold stock of the list, with a 14-day RSI of 11.6%. Wells Fargo recently reiterated its overweight rating on Disney and its $136 price target, which implies shares could gain 52.4%. That's driven the stock's RSI to more than 81.

Persons: —, Walt Disney, Wells Fargo, we're, Steven Cahall, Wall, Sara Senatore, Senatore, FactSet, LSEG, Myers Squibb, Northrop Organizations: Nasdaq, CNBC, Stock, Entertainment, Walt, Disney, DIS, Media, " Bank of America, Mohawk Industries, RSI, Northrop Grumman, Citizens Financial Group Locations: Bristol

☆ Southwest ditching its unassigned seat policy shows how budget airlines' business models are getting upended
▼ + stars: | 2024-07-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, Southwest ditching its unassigned seat policy is a sign of the end times for budget airlines as we know it. Southwest Airlines is ending its open seating policy , opting for assigned and premium seating options. Between paid seat assignments and premium seating, Southwest could add as much as $3 billion in new revenue, according to one analyst. AdvertisementKevin Carter/Getty ImagesThe real pain of the current travel landscape is being felt by budget airlines. That's why Southwest's decision to end its open seating policy could be a sign of the end of budget airlines as we know it, writes BI's Taylor Rains and Pete Syme.

Persons: —, Chelsea Jia Feng, Elliott Management's, wasn't, Insider's Benjamin Zhang, Kevin Carter, BI's Taylor Rains, Pete Syme, Bob Jordan, Goldman Sachs, Jenny Chang, Rodriguez, Prince Williams, Getty, Griffin, Tyler Le, NKSFB, Chris Brown, Rupert Murdoch, Murdoch, they're, They're, Claudia Sahm, Donald Trump, Benjamin Netanyahu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Southwest Airlines, Southwest, Southwest isn't, Bank of America, Getty, Bauer, Fox, News Corp, Mar Locations: Southwest, —, Taylor, Los Angeles, Lago, New York, London

Meanwhile, Redburn Atlantic initiated coverage of DoorDash with a buy rating and a price target implying upside of more than 60%. He also notched down his price target to $29 from $32, indicating 9.4% downside potential from Thursday's close. Analyst Vivek Arya reiterated his buy rating on the Dutch-based chipmaker in a client note on Thursday. He also cut his price target to $1.25 from $6.25, which was 7 cents below Thursday's close price. DASH YTD mountain AAPL year to date — Hakyung Kim 5:33 a.m.: Raymond James raises Apple price target Raymond James is getting more bullish on Apple ahead of earnings.

Persons: Raymond James, Michael Linenberg, Linenberg, Southwest's, — Hakyung Kim, BofA, Vivek Arya, NXP, NXPI, Arya, Davidson, Alexander Perry's, Perry, Morgan Stanley, International Morgan Stanley, Nathan Feather, Feather, Hakyung Kim, James Cordwell, Cordwell, EBITDA, Srini Pajjuri, Fred Imbert Organizations: CNBC, Apple, Southwest Airlines Deutsche Bank, Southwest Airlines, Revenue, NXP, Bank of America, EV, Harley, International, WW International, DoorDash Locations: U.S, China, Thursday's, 2H24

☆ Mom spent $56,000 on a gap year in Latin America with her family of 5: 'We'd do it again in a heartbeat'
▼ + stars: | 2024-07-26 | by ( Liuan Huska | ) www.cnbc.com time to read: +6 min

An unspoken question lingers on people's faces when they hear our family of five took a gap year to travel around South America. We budgeted about $12,000 for flights, estimating six one-way flights at about $2,000 each for our family of five. All told, we expected the trip to cost about $60,000, or less than a year of life at home in Chicagoland. We funded our trip by renting out our home in the Chicago suburbs, which covered our home upkeep and nearly 40% of our travel expenses. On the trip, we didn't know where we'd be in two months or how much money we'd bring in.

Persons: Matt, —, Chile's Torres del Organizations: Torres del Paine, Mirador, Amtrak, Chile's Torres del Paine Locations: Chile, South America, Chicago, Los Angeles, Rio de Janeiro, Brazil, Costa Rica, Illinois, Bolivia, Spanish, Chile's, Argentina, Intag, Chicagoland, Santiago, Mendoza, Pereira, Colombia

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