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While not strictly an IPO, the listing was soon followed by Vietnamese tech unicorn VNG's filing to list on the Nasdaq. As local companies grow, "they are outgrowing the ability of those markets to provide the capital that they need," said Drew Bernstein, co-chairman of accounting firm MarcumAsia. Since the fallout over Didi in the summer of 2021, regulation and a tepid U.S. IPO market have stalled most Chinese listing plans. She said given the success of Southeast Asian ride-hailing company Grab , more Vietnamese companies are starting to look beyond the domestic market to regional business. George Chan, global IPO leader at EY, expects "a lot" of companies from Southeast Asia will reach the IPO stage in the next 12 to 18 months, and might also consider the Hong Kong exchange.
Persons: Scott Mlyn, VinFast, Johan Annell, VNG, Drew Bernstein, It's, Bernstein, who'd he'd, Didi, Gary Dvorchak, Blueshirt, Nguyen Nguyen, Vu Van, ELSA, Van, George Chan Organizations: New York Auto Show, CNBC BEIJING, U.S, Spade, Nasdaq, ARC Group, China -, Renaissance Capital, Investor, CNBC, World Bank, Southeast Asia — Locations: Asia, U.S, Vietnam, Beijing, Cayman Islands, Malaysia, China, China - U.S, Thailand, Indonesia, Singapore, Southeast Asia, Hong Kong
The Rise of Temu’s Chinese Parent Will Reshape E-Commerce
  + stars: | 2023-12-05 | by ( Jacky Wong | )   time to read: 1 min
Temu has 52 million monthly active users in the U.S., just a year after its launch. There’s a new online-shopping champion in China: PDD , the company behind discount-retailing app Temu, is now the country’s most valuable e-commerce company. After a 78% rise this year, PDD’s market value has hit $193 billion, snatching the crown from Alibaba. Though PDD’s revenue last quarter was still less than a third of Alibaba’s, it’s growing much faster. Revenue for the three months ended in September surged 94% from a year earlier—Alibaba’s only grew 9%.
Persons: Temu, Nikos Pekiaridis Organizations: Revenue, Alibaba, P Global Market Intelligence Locations: U.S, There’s, China, Alibaba
Congress Takes on the EV Mandate
  + stars: | 2023-12-05 | by ( The Editorial Board | )   time to read: 1 min
Journal Editorial Report: EV dealers ask Biden where they're supposed to put the glut. Images: AP/Shutterstock Composite: Mark KellyHouse Republicans have teed up a vote this week on legislation to block President Biden’s back-door electric-vehicle mandate. Democrats are spinning the legislation as an attack on public health, innovation and free markets. The Environmental Protection Agency “is not imposing an EV mandate,” says a memo from Democrats on the Energy and Commerce Committee opposing the GOP legislation. But the EPA in April proposed tailpipe emissions standards for greenhouse gases that would effectively require that electric vehicles make up two-thirds of car sales in 2032.
Persons: Biden, they're, Mark Kelly, Biden’s, Organizations: Republicans, Environmental Protection Agency, Energy, Commerce, GOP
A padlock is seen in front of the word 'spyware' and binary code in this illustration taken May 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsBRUSSELS, Dec 5 (Reuters) - Lobby group Japan Association of New Economy has joined U.S. Big Tech to warn against proposed EU cybersecurity labelling rules that they said could hamper their access to the bloc's markets, according to a letter sent to the EU industry chief. A requirement that Amazon (AMZN.O), Alphabet's (GOOGL.O) Google, Microsoft (MSFT.O) and other non-EU cloud providers set up a joint venture with an EU-based company to qualify for the EU cybersecurity label has triggered criticism from some EU countries and foreign vendors. The Japan Association of New Economy also slammed these requirements. The Japan Association of New Economy is a business lobby group focused on e-business and developing new industries.
Persons: Dado Ruvic, Hiroshi Mikitani, Thierry Breton, Mikitani, Foo Yun Chee, Dave Dolan, Miral Organizations: REUTERS, Rights, Japan Association of New, U.S, Big Tech, European Union, Google, Microsoft, EU, Reuters, Japan Digital Partnership, Thomson Locations: EU, Japan, Japanese, Brussels, Tokyo
PDD's current market capitalization is nearly $190 billion, compared to Alibaba's market capitalization of $185.8 billion, LSEG data showed. PDD posted 94% growth in third-quarter revenue from a year earlier, far outpacing Alibaba's 9% growth during the same period. Analysts say that consumers increasingly looking for bargains in the face of economic uncertainties have helped boost PDD's growth domestically and internationally. "PDD's strong 3Q23 results imply both sustainable market share expansion of its domestic e-commerce business and strong growth momentum of ... Temu," they told clients. PDD "remains a standout growth stock" amid a broader base economic slowdown in China, wrote The Benchmark Company in a Nov. 29 report.
Persons: Morgan Stanley, PDD, Morgan Stanley Morgan Stanley, Eddy Wang, Kathy Zhu, Gary Yu, Temu's, Temu, Andre Chang, Alex Yao, Nancy Liu, Morningstar Morningstar, Chelsey Tam, Fawne Jiang, Long Lin Organizations: PDD Holdings, Investment, JPMorgan, Morningstar, Alibaba, PDD's Nasdaq, JPMorgan JPMorgan, China Internet, Morningstar Asia, Company Locations: China, 4Q23, U.S, Europe, Australia, New Zealand, Morningstar Morningstar Asia, Temu
These two diverging camps — the open and the closed — disagree about whether to build AI in a way that makes the underlying technology widely accessible. "So it’s not like a thing that is locked in a barrel and no one knows what they are.”Political Cartoons View All 1277 ImagesWHAT'S OPEN-SOURCE AI? Part of the confusion around open-source AI is that despite its name, OpenAI — the company behind ChatGPT and the image-generator DALL-E — builds AI systems that are decidedly closed. An increasingly public debate has emerged over the benefits or dangers of adopting an open-source approach to AI development. Weights are numerical parameters that influence how an AI model performs.
Persons: they’re, That's, , Darío Gil, Alliance —, ” Gil, OpenAI, Ilya Sutskever, there's, David Evan Harris, Harris, , Oppenheimer ’, Camille Carlton, Yann LeCun, LeCun, fearmongering, ” LeCun, Chris Padilla, Joe Biden's, Gina Raimondo Organizations: Tech, Meta, IBM, Alliance, Google, Microsoft, Dell, Sony, AMD, Intel, Associated Press, Stanford University, University of California, for Humane Technology, Frontier Model, Windows, Commerce, European Locations: Berkeley
Meta and IBM have launched an alliance that's calling for an "open science" approach to AI development. Facebook parent Meta and IBM on Tuesday launched a new group called the AI Alliance that's advocating for an "open science" approach to AI development that puts them at odds with rivals Google, Microsoft and ChatGPT-maker OpenAI. AdvertisementPart of the confusion around open-source AI is that despite its name, OpenAI — the company behind ChatGPT and the image-generator DALL-E — builds AI systems that are decidedly closed. An increasingly public debate has emerged over the benefits or dangers of adopting an open-source approach to AI development. Biden's order described open models with the technical name of "dual-use foundation models with widely available weights" and said they needed further study.
Persons: , they're, That's, Darío Gil, Alliance —, Gil, OpenAI, Ilya Sutskever, there's, David Evan Harris, Harris, Oppenheimer, Camille Carlton, Yann LeCun, LeCun, fearmongering, Chris Padilla, Joe Biden's, Gina Raimondo Organizations: Meta, IBM, Google, Microsoft, Service, Tech, Alliance, Dell, Sony, AMD, Intel, Associated Press, Stanford University, University of California, for Humane Technology, Frontier Model, Windows, Commerce, European Locations: Berkeley
CNBC Daily Open: The rush for gold — and bitcoin
  + stars: | 2023-12-05 | by ( Shreyashi Sanyal | )   time to read: +2 min
Bitcoin coins are seen at a stand during the Bitcoin Conference 2023, in Miami Beach, Florida, U.S., May 19, 2023. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Spot gold prices touched $2,100 an ounce, hitting a record high as investors rushed into the safe-haven asset. Wall Street catches a breathU.S. stocks markets slipped Monday, with investors questioning if markets climbed too fast, too soon following five straight weeks of gains.
Persons: Twilio Organizations: CNBC, Wall, Dow Jones, Nasdaq, Big Tech, Japan's Nikkei, Airlines, DoJ, Alaska Airlines, Hawaiian Airlines, Justice Department, JetBlue Airways, Spirit Airlines, Spotify, Department of Justice, Banque Pictet, Internal Revenue Service Locations: Miami Beach , Florida, U.S, Asia, Pacific, Swiss
By Lewis JacksonSYDNEY (Reuters) - Australia Post will soon end daily letter deliveries as part of a series of postal reforms announced on Wednesday designed to modernise the government-owned postal service and help it turn a profit. Australia Post will also have an extra day to deliver regular mail. Australia Post delivered half a billion parcels last financial year, or roughly 20 per person. Losses in the letter business rose 50% to A$384 million. Australia Post has applied to the competition regulator to increase the basic letter postage rate to A$1.50 from A$1.20 from early near year.
Persons: Lewis Jackson SYDNEY, Paul Graham, eCommerce, Graham, Lewis Jackson, Jamie Freed Organizations: Australia Post, Australia Locations: Australia
Goldman Sachs reiterates Nike as buy After a transfer of analyst coverage, Goldman Sachs said it sees improving growth for Nike shares. UBS downgrades United Rentals to neutral from buy UBS said in its downgrade of the equipment rental company that it sees a more balanced risk/reward. UBS reiterates Apple as neutral UBS said its analysis of Apple's App Store shows revenue increasing. UBS reiterates Netflix as buy UBS said it's standing by its buy rating on Netflix shares after hosting the company at a conference. William Blair reiterates Charles Schwab as outperform William Blair named Schwab a top pick for 2024, noting it's well-positioned.
Persons: Raymond James, Piper Sandler downgrades Albemarle, Piper Sandler, it's, Goldman Sachs, Roth, Roth MKM, TD Cowen, Bernstein, Mizuho downgrades Prologis, Wells, Wells Fargo, Oppenheimer, Domino's, Elliott, Morgan Stanley, Meta, Needham, Coinbase, JPMorgan, Raymond James downgrades Lululemon, LULU, Strong, William Blair, Charles Schwab, Schwab Organizations: Crescent Energy, Energy Company, Eagle Ford, UW, Nike, Bank of America, UBS, Credit Suisse, Yale, HY, United Rentals, Apple, Semiconductors, JPMorgan, IBM, Consulting, Mizuho, Marriott, of America, Netflix, Management, Integra, Financial, ISI, Disney, BR, Cargo Therapeutics, Citi, Travere Therapeutics Locations: Houston, Uinta, Eagle, LTHM, 2024E, 2025E, Argentina, Boston, China, Mexican
Attendees inspect Smith and Wesson firearms at the National Rifle Association's (NRA) annual meeting, in Indianapolis, Indiana, U.S., April 28, 2019. Smith & Wesson, which is incorporated in Nevada, did not respond immediately to a request for comment. The group of nuns filed the lawsuit in their role as Smith & Wesson shareholders, in what is known as a derivative lawsuit. The nuns alleged that the directors of Smith & Wesson have ignored growing legal risks from making assault-style rifles. Smith & Wesson warned in its 2022 annual report that it might have to pay significant damages due to legal proceedings against the company.
Persons: Smith, Bryan Woolston, Jeffrey Norton, gunmakers, gunmaker Remington, Adrian Dominican, Bon, Francis of Philadelphia, Jesus, Tom Hals, Alexia Garamfalvi, Leslie Adler Organizations: Wesson, REUTERS, Smith, Tuesday, Smith & Wesson, Sandy, Elementary, U.S, Supreme, Adrian, Bon Secours, St, Jesus &, Thomson Locations: Indianapolis , Indiana, U.S, WILMINGTON , Delaware, Nevada, Colorado, Connecticut, New York , Illinois, California, Adrian , Michigan, Marriottsville , Maryland, Aston , Pennsylvania, Ontario Province, Marylhurst , Oregon, Wilmington , Delaware
BEIJING — More controls on tech exports to China will be coming as needed, despite business concerns, U.S. Commerce Secretary Gina Raimondo told CNBC in an exclusive interview. "We have to change constantly," Raimondo told CNBC's Morgan Brennan over the weekend on the sidelines of the Reagan National Defense Forum. They want a clear line in the sand," the commerce secretary said. "The truth of it is though, technology changes, China changes and we have to keep up with it." In October 2022, the U.S. Department of Commerce's Bureau of Industry and Security announced sweeping export controls that restrict the ability of companies to sell certain advanced computing semiconductors or related manufacturing equipment to China.
Persons: Gina Raimondo, Raimondo, CNBC's Morgan Brennan, " Raimondo, it's Organizations: . Commerce, CNBC, Reagan National Defense, U.S . Department of Commerce's, of Industry, Security Locations: BEIJING, China
Mark Zuckerberg sold about $190 million worth of Meta Platforms stock in November, SEC filings show. Meta shares have surged by 166% this year, virtually erasing losses in 2022. AdvertisementMark Zuckerberg cashed in about $190 million worth of Meta Platforms shares in November, marking his first disposals since 2021, after his company's stock came roaring back this year. Meta shares crashed in 2022, but have virtually erased those losses after a 166% advance this year that has crushed the Nasdaq Composite's 36% gain. AdvertisementZuckerberg and his wife, Priscilla Chan, have vowed to donate 99% of their Meta shares to good causes during their lifetimes.
Persons: Mark Zuckerberg, , Zuckerberg, WhatsApp, Tesla, Priscilla Chan, Warren Buffett, Bill Gates, Tim Cook, Jeff Bezos Organizations: SEC, Meta, Service, Securities and Exchange Commission, Nasdaq, Bloomberg, Facebook, Big, Nvidia, Apple, Amazon Locations: Big Tech
The price of durable goods is deflating, though many Americans may not feel the impact. AdvertisementEven though inflation is still higher than ideal, many things are actually getting cheaper. The prices of durable goods, meaning long-lasting items such as used cars or appliances, have fallen year-over-year for each of the last five months. That decreased demand has helped push down goods prices. AdvertisementTo be sure, most items Americans are purchasing on the daily are still inflating.
Persons: , Morgan Stanley, durables, HENRYs Organizations: Service, Commerce Department, Street, Federal Reserve, Consumer, Sporting, Services
WASHINGTON (AP) — The Supreme Court is taking up a case Tuesday over a Washington couple's $15,000 tax bill that is widely seen as a test of a never-enacted tax on wealth. Political Cartoons View All 1277 ImagesThe Moores paid $15,000 in taxes based on Charles Moore’s investment in an Indian company. They argue that the tax violates the 16th Amendment, which allows the federal government to impose an income tax on Americans. “The Moore case could make it impossible to close those loopholes,” Wyden said. Public documents show that Charles Moore's involvement with the company, including serving as a director for five years, is far more extensive than court filings indicate.
Persons: Charles, Kathleen Moore, Paul Ryan, Donald Trump, , Moores, Charles Moore’s, Moore, Democratic Sen, Ron Wyden, , ” Wyden, Charles Moore's, Samuel Alito, David Rivkin, Alito, Rivkin, Fatima Hussein Organizations: WASHINGTON, Washington, Wisconsin Republican, Republican, U.S . Chamber of Commerce, Democratic, Oregon, Moores, ___ Associated Locations: Redmond , Washington, Indian, ___
State-owned Motor Sich is Ukraine's main manufacturer of aircraft and helicopter engines, including for some of the world's largest cargo planes. Many legacy Ukrainian defense companies will trigger "red flags" during the lengthy due diligence and compliance reviews conducted by Western defense companies, said one U.S. defense executive. A Motor Sich representative stopped by ITA's booth and spoke briefly about their company's capabilities, the spokesperson said. ROOTING OUT CORRUPTIONZelenskiy has made rebuilding Ukraine's defense and aerospace sector a top priority, which includes deeper investment in drone technology. While the talks in Washington later this week and last month's Dubai air-show contacts are potentially promising, the political realities that Western defense officials are grappling with could hinder any progress.
Persons: Gleb Garanich, Olexiy Nikiforov, Lockheed Martin, Pavlo Verkhniatsky, Volodymyr Zelenskiy, Korzh, Trump, Nikiforov, RTX, Northrop, Valerie Insinna, Joanna Plucinska, Tim Hepher, Jo Mason, Jane Merriman Organizations: Motor Sich, REUTERS, State, Sich, Reuters, Lockheed, White, U.S, Western, U.S . Department of Commerce, Dubai Air Show, Commerce Department's International Trade Administration, Boeing, Northrop Grumman, Republicans, Ukraine –, Thomson Locations: Ukrainian, Kyiv, Ukraine, WASHINGTON, Russia, China, Washington, U.S, Moscow, Zaporizhzhia, Dubai, Gaza, London
US factory orders fall 3.6% in October
  + stars: | 2023-12-04 | by ( )   time to read: +2 min
Autonomous robots assemble an X model SUV at the BMW manufacturing facility in Greer, South Carolina, U.S. November 4, 2019. Factory orders fell 3.6% after a downwardly revised 2.3% inSeptember, the Commerce Department's Census Bureau said on Monday, the biggest monthly drop since April 2020. Orders for durable goods fell 5.4%, with orders for transportation equipment slumping 14.7%. Electrical equipment, appliances and components orders fell 1.1%. Shipments of manufactured goods fell 1.4%.
Persons: Charles Mostoller, Lindsay Dunsmuir, Chizu Organizations: BMW, REUTERS, U.S, Commerce, Reuters, Machinery, Manufacturing, Thomson Locations: Greer , South Carolina, U.S, Commerce Department's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSec. Gina Raimondo: Threat from China is large and growing, can't let it access top tier AI chipsSecretary of Commerce Gina Raimondo sat down with CNBC's Morgan Brennan over the weekend to discuss semiconductor trade with China and how U.S. policy is impacting chip makers.
Persons: Gina Raimondo, CNBC's Morgan Brennan Locations: China
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCostco's position in e-commerce will change, says Morgan Stanley's Simeon GutmanSimeon Gutman, Morgan Stanley analyst, joins 'The Exchange' to discuss Amazon and Walmart's performance in e-commerce, other competitors in the retail space and more.
Persons: Morgan Stanley's Simeon Gutman Simeon Gutman, Morgan Stanley
Tech firms, Wall Street lead job cuts in Corporate America
  + stars: | 2023-12-04 | by ( )   time to read: +9 min
TECHNOLOGY, MEDIA AND TELECOM SECTORMeta Platforms (META.O):The Facebook-parent said it would cut 10,000 jobs, just four months after it let go 11,000 employees. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. The company laid off under 1,000 employees across several divisions in October, Axios reported, citing a source. Workday (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse was planning to cut about 3,000 jobs in the second quarter ended June 30, Reuters reported in May.
Persons: Brendan McDermid, Goldman Sachs, Axios, Pat Gelsinger, Elon Musk, Morgan Stanley, Lazard, Coinbase, cryptocurrencies, Phillips, Johnson, Joseph Wolk, Deborah Sophia, Akash Sriram, Granth Vanaik, Eva Mathews, Yuvraj Malik, Sourasis Bose, Priyamvada, Tiyashi Datta, Manya Saini, Jaspreet Singh, Maju Samuel, Sriraj Kalluvila, Pooja Desai Organizations: REUTERS, TELECOM, Meta, Facebook, IBM Corp, Spotify Technology SA, Spotify, Microsoft Corp, Intel Corp, Reuters, New York Times, Elon, Cisco Systems, HP, Rivian, Match, Dell Technologies, Technologies, U.S . Central Intelligence Agency, Goldman Sachs, Wall, Citigroup, Bloomberg News, BlackRock, Bed, Dow, Johnson, 3M, Thomson Locations: New, Wall, U.S, York, New Jersey, Bengaluru
Taiwan Economy Minister Wang Mei-hua speaks during an interview with Reuters in Taipei, Taiwan, September 30, 2021. REUTERS/Ann Wang/File Photo Acquire Licensing RightsTAIPEI, Dec 4 (Reuters) - U.S. officials plan to visit Taiwan to explain to companies details of new curbs, primarily aimed at China, on advanced chip exports, the island's economy minister said on Monday. Taiwan Economy Minister Wang Mei-hua said some details of the extremely long new U.S. rules needed explanation. Given the concentration of chip making in Taiwan it was "advantageous" for Taiwanese companies to hear the details of the new controls from the U.S. officials, Wang said. Taiwan's official Central News Agency said the U.S. officials, who it did not name, would visit Taiwan next month and hold events in the chip hubs of Hsinchu and Tainan.
Persons: Wang Mei, Ann Wang, Biden, chipmaker TSMC, Wang, Ben Blanchard, Jeanny, Bernadette Baum, Barbara Lewis Organizations: Reuters, REUTERS, Rights, Nvidia, Beijing, U.S, Central News Agency, The U.S . Commerce Department, Thomson Locations: Taiwan, Taipei, Rights TAIPEI, China, U.S, Hsinchu, Tainan, The
That sort of approach resonated in conservative strongholds like Alabama long before Trump. Alabama Democrats, especially, cite deep historical roots involving racism, class and urban-rural divides when explaining Wallace, Trump and the decades between them. Moderate to progressive “national Democrats” were concentrated in north Alabama, Baxley explained, while reactionary “states-rights Dixiecrats” cohered in south Alabama. Wallace won four Deep South states as an independent in 1968. Wallace won his fourth term as governor in 1982 after disavowing segregation and winning over enough Black voters.
Persons: George Wallace, Wallace, Donald Trump, Trump, “ Alabamians, , Terry Lathan, ” Trump, Barack Obama, Brent Buchanan, Wayne Flynt, , Lathan, Ron DeSantis, Reagan, Trump's, ” Wallace, Lyndon Johnson, Bill Baxley, Baxley, Lincoln ”, ” Baxley, Franklin Roosevelt’s, “ Wallace, Johnson, Barry Goldwater, Flynt, Alabama “, Richard Nixon, Ronald Reagan, Wallace’s, Jimmy Carter, Carter, Alabama's, Democratic pollster Zac McCrary, Hillary Clinton’s, Joe Biden’s, ” McCrary, Sen, Richard Shelby's, Shelby, Newt Gingrich, Dan Carter, Jeff Sessions, Trump’s, John McCain, Mitt Romney, Mike Huckabee, Rick Santorum, Tommy Tuberville, Katie Britt, dealmaker, Britt, Buchanan, Republican pollster, Donald Trump’s, Kim Chandler Organizations: ATLANTA, — Republican, University of Alabama, Civil Rights Movement, Republicans, Party of Lincoln, Party of Trump, Trump, America, GOP, Alabama Republicans, Democratic, Alabama Democrats, “ Party, Democrats ”, Politics, National Democrats, Franklin Roosevelt’s New, Civil, Act, Republican, Reconstruction, Klux Klan, Birmingham's, Baptist Church, Washington, Democrat, , Democrats, U.S, Senate, Sessions, Alabama, Alabama Legislature, Southern Democrats, Capitol, Shelby, Associated Press Locations: Tuscaloosa, Washington, Alabama, lockstep, Florida, Southern, U.S, Texas, New York, Trump, Jan, Montgomery , Alabama
The proposal to classify AI systems by four levels of risk — from minimal to unacceptable — was essentially intended as product safety legislation. That changed with the boom in generative AI, which sparked wonder by composing music, creating images and writing essays resembling human work. Foundation models give generative AI systems such as ChatGPT the ability to create something new, unlike traditional AI, which processes data and completes tasks using predetermined rules. Resistance to government rules for these AI systems came from an unlikely place: France, Germany and Italy. “The race should be for the best AI regulations, not the first AI regulations."
Persons: , Bard chatbot, “ Rather, won’t, , Nick Reiners, “ there’s, Reiners, Sam Altman, Thierry Breton, ” Reiners, Kent Walker, Iverna McGowan, McGowan, Altman, OpenAI, Alpha, it's, ” Dragos, , “ We’re Organizations: European Union, Eurasia Group, European Commission, Microsoft, Mistral, Elon, Center for Democracy and Technology, EU Locations: European, U.S, China, Brussels, France, Germany, Italy, Europe, German, Romanian
A US Navy destroyer responding to the incidents had to battle off multiple drones during the day. It's the latest example of how American forces are increasingly engaging hostile Iran-backed groups. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. American destroyers like the Carney have shot down scores of drones and missiles launched from Houthi-controlled territory in recent weeks. "And so we will continue to focus on that mission, as well as ensuring that our forces are protected."
Persons: , Carney, Arleigh Burke, CENTCOM, MCS2 Aaron Lau, Khaled Abdullah Analysts, Washington, Pat Ryder Organizations: US Navy, Service, Hamas, Central Command, Pentagon, Washington Institute for Near East, Missiles, REUTERS, Institute for, Business, Pentagon Press, Air Force Locations: Iran, Red, Yemen, Suez, Israel, Iran's, Tehran, Gaza, Hezbollah, Lebanon, Iraq, Syria, Sanaa, Washington ,, United States, American, Islamic State
Walmart and Target appear to be borrowing pages from each other's playbook. Some specific features seemingly borrowed from Target include the new "Dollar Shop" and "Grab & Go" sections near the front entrance. AdvertisementFresh produce sections at Walmart (left) and Target (right). For starters, Walmart is still much bigger than Target, and a supercenter is typically about 50% larger than a Target store. But the company says it is finding success in its effort to attract higher-income shoppers, while Target continues to emphasize affordability in its offerings.
Persons: , Burger King, Dominick Reuter, Christina Henninton's, Wrangler Organizations: Walmart, Service, Pepsi, McDonalds, Ford, Target, Business, Brands, Reebok, Apple Locations: Burger
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