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☆ Robinhood's cofounder has joined the rapidly growing commercial space race, and wants to beam solar power from satellites to earth
▼ + stars: | 2024-10-21 | by ( Polly Thompson | ) www.businessinsider.com time to read: +9 min

Aetherflux aims to launch a constellation of satellites to transmit solar power to Earth using infrared lasers. Bhatt told BI why he's joining the commercial space race and what Robinhood taught him about capitalism. AdvertisementAetherflux aims to create a constellation of satellites in low Earth orbit (LEO) that will collect solar power and beam it down to receptors on Earth using infrared lasers. Caltech's president, Thomas F. Rosenbaum, said the project had shown them that solar power beamed from space "is still a future prospect" but that it "should be an achievable future." The science has already been demonstrated; it's just going to be an engineering and economic feat to prove it can be done from space, Bhatt said.

Persons: Baiju Bhatt, Bhatt, Robinhood, —, Vlad Tenev, Elon, Baiju Bhatt Bhatt, Thomas F, Rosenbaum, it's, he'd, you'll, Spencer Platt, Matthew Weinzierl, Weinzierl, Einstein, Aetherflux Organizations: he's, Service, California Institute of Technology, NASA, Langley Research Center, Stanford, DARPA, Investment, Space Angels, McKinsey, Harvard Business School, SpaceX, Getty, Apex, Forbes Locations: India, Anadolu, Bay

☆ Netflix earnings need to justify runup in stock. What analysts see for subscribers, ad tier
▼ + stars: | 2024-10-17 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Analysts surveyed by LSEG expect Netflix earnings to come in at $5.12 per share, while revenue should hit $9.769 billion. In the second quarter, Netflix earned $4.88 per share on $9.56 billion in revenue. Along with solid numbers for the quarter just ended, other analysts believe Netflix also has to raise prices to appease shareholders. Citigroup's Jason Bazinet says price hikes are warranted at Netflix due to strong engagement trends and competitors' own price increases. A ramping ad-tier Finally, Wall Street is keeping close watch on the advertising tier business Netflix rolled out in November 2022.

Persons: Evercore, Mark Mahaney, Citigroup's Jason Bazinet, Goldman Sachs, Eric Sheridan, Deutsche Bank's Bryan Kraft, Wells, Steven Cahall, Kannan Venkateshwar, NFLX, Alan Gould, Piper, Matt Farrell, Doug Anmuth, Morgan Stanley, Benjamin Swinburne, Alicia Reese Organizations: Netflix, Wall, LSEG, StreetAccount, Deutsche, Barclays, Wednesday's, JPMorgan

Deep-pocketed Republicans donors also tried to close the gap by boosting a GOP super PAC working to seize the Senate majority. America PAC has taken on a critical supporting role for the Trump campaign, according to its independent expenditure filings, which cover some spending beyond September 30. Tuesday’s filings show other conservative billionaires also plowing extraordinary sums into the effort to reelect Trump. Another leading pro-Trump super PAC, Restoration PAC, also reported a huge haul from a single major donor. Meanwhile, the Congressional Leadership Fund – the main super PAC supporting House Republicans – hauled in more than $81 million in the third quarter.

Persons: –, Miriam Adelson, Elon Musk, Donald Trump’s, Adelson, – Musk, Richard Uihlein –, megadonors, Kamala Harris, Harris, Musk, Trump, reelect Trump, Sheldon, Uihlein, Ike Perlmutter, Laura, Biden, Michael Bloomberg, Reid Hoffman, Steve Mnuchin, Dana White, White, Chuck Schumer, JB Pritzker, Eric Schmidt, Reed Hastings, Ken Griffin, Elliott, Paul Singer, Stephen Schwarzman, Republicans –, Timothy Mellon, Montana Sen, Jon Tester, Ohio Sen, Sherrod Brown, Tim Sheehy, Brown, Bernie Moreno, Eric Hovde, Democratic Sen, Tammy Baldwin, Baldwin, Colin Allred, Sen, Ted Cruz, Cruz, Nathan L, Democrat Adam Gray, Michelle Steel, Democrat Eugene Vindman, Trump’s, Vindman, Mary Peltola, CNN’s Kristen Holmes Organizations: CNN, Trump, PAC, Federal, Commission, Adelson, Democratic, Republican, GOP, White, House . America PAC, America PAC, Preserve, America, Restoration PAC, FF PAC, FF, New York, LinkedIn, Republican National Convention, Fund, Illinois Gov, Netflix, Citadel, Elliott Management, Blackstone Group, Congressional, Republicans, The New York Times, Democrats, West, Senate, Ohio, – Rep, Democrat, Alaska Rep Locations: Pennsylvania, California, New York, Preserve America, Michigan, Wisconsin, Pennsylvania , Wisconsin, Georgia, Lago, Florida, Montana, Michigan , Pennsylvania, Arizona, Maryland, Republican, Texas, Virginia’s, District, Alaska

☆ Goldman downgrades Etsy to sell, says it expects market share losses to continue
▼ + stars: | 2024-10-15 | by ( Sean Conlon | ) www.cnbc.com time to read: +1 min

A number of negative catalysts are set to drive shares of Etsy lower, according to Goldman Sachs. Analyst Eric Sheridan downgraded the e-commerce stock to sell from neutral and slashed his price target by $25 to $45, which implies more than 9% downside from Monday's close. ETSY YTD mountain ETSY, year-to-date With that, Sheridan thinks that Etsy will continue to lose market share in the years to come, seeing low-single-digit buyer growth over time. "On net, we believe that the analysis points to a lower likelihood of ETSY meaningfully compounding GMS above long-term Street estimates." Specifically, he believes that margins could be pressured if Etsy "leans further into investments to stimulate growth."

Persons: Goldman Sachs, Eric Sheridan, Sheridan, Etsy, it'll Locations: HundredX

☆ A La Niña winter is coming. Here’s what that could mean for the US
▼ + stars: | 2024-10-15 | by ( Mary Gilbert | ) edition.cnn.com time to read: +5 min

La Niña isn’t here yet, but has a 60% chance of emerging through November, according to the Climate Prediction Center. While it’s still unclear just how strong La Niña will get, current forecasts favor a weaker one. That outlook could be change when the center releases its latest forecast on Thursday based on trends toward a weaker La Niña. CNN WeatherThis is due to the behavior of the jet stream — essentially a river of air that storms flow through — which often shifts north during a La Niña winter. La Niña had a hand in the extremely wet winter much of the state endured from December 2022 to February 2023 and during the wet winter before that.

Persons: it’s, El Niño, El, Niño, Emily Becker, ” Becker, Niña, It’s Organizations: CNN, El, Northern, La, University of Miami, Dakotas, Niña Locations: United States, Northeast, Midwest, Pacific Northwest, East Coast, Plains, Northern California, Southern California

The vast majority of analysts surveyed by FactSet hold a strong buy or buy rating on the stock. Despite its recent slowdown, analysts surveyed by FactSet have a consensus buy rating on the dominant e-commerce platform. Bullish voices on the stock include Goldman Sachs analyst Eric Sheridan, who recently reiterated a buy rating and $230 price target. JPMorgan's Anmuth is similarly positive on Amazon ahead of earnings, rating the stock overweight and saying it remains the favorite in the bank's firm's internet sector coverage. The consensus FactSet rating on Meta is buy, with an average price target of $604, suggesting just 2.3% potential upside.

Persons: Roundhill, —, selloff, Goldman Sachs, Kash Rangan, Nvidia's Blackwell, Brad Zelnick, Amit Daryanani, Daryanani, Apple's wearables, qtr, Tim Cook's, you'd, Morgan Stanley, Jensen, Blackwell, Biden, Tesla, enthusiam, Elon, Wells, Colin Langan, Department's, Doug Anmuth, Bank of America's Justin Post, Eric Sheridan, Sheridan, Goldman, Anmuth, Baird, Roth MKM, JPMorgan's Anmuth, Goldman's Sheridan, Meta's, — CNBC's Michael Bloom Organizations: Apple, Microsoft, Nvidia, Tesla, CNBC, Windows, Investment, Deutsche Bank, Justice Department, Blackwell, Bloomberg, Ford, General Motors, EV, Google, FactSet, Bank of America's, ISI, Walmart, Costco, eBay, Meta, Ray, Labs, Facebook, Temu, Goldman Locations: China, FactSet, ., Downside, U.S, Wells Fargo, American, Meta's Asia, Pacific

☆ International investors descend on London as Labour tries to woo new business to Britain
▼ + stars: | 2024-10-14 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +2 min

LONDON — The U.K. Labour government is hoping to woo foreign capital to the country on Monday, as it hosts its inaugural International Investment Summit in London. Prime Minister Keir Starmer, Finance Minister Rachel Reeves and Business Minister Jonathan Reynolds will lead the one-day event at London's Guildhall, which is expected to be attended by around 200 executives from the U.K. and overseas. Former Google chair Eric Schmidt, Goldman Sachs CEO David Solomon and GSK CEO Emma Walmsley are among the named guests. Newly appointed Investment Minister Poppy Gustafsson, co-founder of British cybersecurity firm Darktrace, will also be on hand to promote the U.K. as a place to do business. The date was determined by Labour's pre-election pledge to hold a business summit within its first 100 days in office.

Persons: Keir Starmer, Rachel Reeves, Jonathan Reynolds, Eric Schmidt, Goldman Sachs, David Solomon, Emma Walmsley, Poppy Gustafsson, Dr, Bruce Morley, Labour's, Reeves Organizations: Labour, International Investment Summit, Business, London's Guildhall, British, CNBC, University of Bath, National Insurance, Capital, Guardian, Treasury Locations: London

☆ For God, for country, for rain
▼ + stars: | 2024-10-14 | by ( Jessica Lucas | ) www.businessinsider.com time to read: +24 min

It's 9:30 a.m., and Augustus Doricko, the mulleted 24-year-old founder of the cloud-seeding company Rainmaker, is clutching a coffee. There's a long way to go before cloud seeding becomes a viable option for solving one of humanity's many self-made crises. El Segundo, population 17,272, has long been a bastion of American engineering, home to aerospace and defense giants like Boeing and Raytheon. Jett Lara for BIThe burning happens every Friday around 8 p.m. at a bonfire on El Segundo Beach. One of Doricko's goals is to build a church in El Segundo to "share the grace of God with other people."

Persons: Augustus Doricko, Bruno Mars, Doricko, Jessica, I'd, Jesus, He'd, that's, Rainmaker, Lauren Sánchez, Jett Lara, Billy Ray Cyrus, God, Augustus Doricko Doricko's, Cameron Schiller, Augustus, Schiller, El, That's, it's, El Segundo, Elon Musk, Isaiah Taylor, Doricko's, Taylor, Rob Coutts, —, Jesus of Nazareth, Zer, he'd, Jason Flynt, Flynt, Terra, Michael Gibson, Sarah Tessendorf's, messaged Gibson, Michael, Gibson, Thiel, Peter Thiel, I'm, Katja Friedrich, Friedrich, Friedrich isn't, Jonathan Jennings, Kaitlyn Suski, dumbbells, Jackson Schultz, Elijah, birdsong, Schultz, We're, coffees, Mankind Organizations: MGM, Association, Aspen Ideas, Global Initiative, BI, El, Boeing, Raytheon, Space Industries, Chevrolet, Stamford Yacht Club, New Zealand, University of California, BI Doricko, drillers, Terra Seco, Thiel Foundation, Terra, tech's, Weather Locations: Vegas, Tennessee, El Segundo, Los Angeles, America, Silicon, Santa Clarita, Rainmaker, Beijing, Colorado, California, Smoky, El Segundo Beach, North Carolina, Texas, Stamford , Connecticut, New, Costa, Berkeley, Christianity, Fort Worth , Texas, Terra Seco, drawdowns, Lake Mead, Las Vegas, Phoenix, Juul, Fresno, San Jose, Dubai, UAE, Midwest, West Texas, New Mexico , Arizona , Nevada, Amsterdam, Milan

☆ Obama’s reemergence on the campaign trail for Harris comes as he recognizes his own legacy is at stake
▼ + stars: | 2024-10-13 | by ( Edward-Isaac Dovere | ) edition.cnn.com time to read: +14 min

This past Wednesday alone, he recorded 21 videos for the Harris campaign. Obama acolytes have spent the last eight years rationalizing Trump as the last gasp backlash to the Democrat and his presidency. While most of the party leaders Harris called that Sunday afternoon, including Bill Clinton, and immediately pledged support, Obama held off. Harris advisers knew Obama and former House Speaker Nancy Pelosi favored an open process to find a new nominee. And according to people who know about the conversations, he checks in with several of his own closest aides now helping run Harris’ campaign, such as current campaign chair Jen O’Malley Dillon and his own 2008 campaign manager, David Plouffe.

Persons: Barack Obama, Obama’s, president’s, Harris, Obama, Kamala Harris, Joe Biden, Donald Trump’s, He’s, he’d, Trump, rationalizing Trump, Bruce Springsteen, ”, Hannah Hankins, ” Obama, Kai Jones, Biden, Jones, Obama “, ” Austin Davis, It’s, Hakeem Jeffries, Michelle, Jeffries, Alexandria Ocasio, Cortez, Marie Gluesenkamp Perez, Mary Peltola, Chuck Schumer, Pennsylvania Sen, Bob Casey, Casey, Elissa Slotkin, Ruben Gallego, Josh Shapiro, Arizona Sen, Mark Kelly, he’s, Kelly, “, Harris Obama, Mike Donilon, —, Bill Clinton, diehards, feckless, Nancy Pelosi, Jen O’Malley Dillon, David Plouffe, she’s, Michelle Obama, She’s, Paige Mirsky, hadn’t, ” Mirsky, Eric Swanson, Swanson, Pitt, ” Amelia Staresink, Sara Kulkarni, Eve Majewski Organizations: CNN — America, CNN, Democratic, Trump, Democrat, Netflix, House, Democratic Party, “, University of Pittsburgh, Washington, New, Democratic House, World Wildlife Federation, New York Rep, Washington Rep, Alaska Rep, Senate, Pennsylvania, Obama, August’s Democratic National Convention, White, Social Security, Republican Locations: Pittsburgh, Pennsylvania, New York, Washington, Alexandria, Michigan, Arizona, Buffalo, Canada, Grant Park

☆ Goldman Sachs says these stocks are a table-pounding buy ahead of earnings
▼ + stars: | 2024-10-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +4 min

Analysts at Goldman Sachs named a slate of stocks to snap up as earnings season gets underway. Those names include LivaNova , Spotify Technology, TKO Group and ServiceNow. TKO Group The sports media company and owner of the UFC is firing on all cylinders ahead of earnings in November. TKO Group shares are up 56% in 2024. LivaNova Analyst David Roman and his team recently initiated coverage of LivaNova with a buy rating.

Persons: Goldman Sachs, Eric Sheridan, Sheridan, Christian Luiga, Stephen Laszczyk, Laszczyk, David Roman, Roman, LivaNova Organizations: Goldman, Spotify Technology, Spotify, UFC, TAM, Sports Media

☆ Hubble telescope captures Jupiter’s Great Red Spot contracting like a stress ball
▼ + stars: | 2024-10-11 | by ( Ashley Strickland | ) edition.cnn.com time to read: +7 min

CNN —New observations of Jupiter’s Great Red Spot captured by the Hubble Space Telescope show that the 190-year-old storm wiggles like gelatin and shape-shifts like a squeezed stress ball. Although storms are generally considered unstable, the Great Red Spot has persisted for nearly two centuries. Recently, a separate team of astronomers peered into the heart of the Great Red Spot using the James Webb Space Telescope to capture new details in infrared light. The Great Red Spot seems to wiggle like a bowl of gelatin over the 90-day period. NASA/ESA/STScI/Amy SimonThe new Hubble study fills in more pieces of the puzzle about the Great Red Spot, Fletcher said.

Persons: Hubble, it’s, ”, Amy Simon, we’ve, ” Simon, James Webb, Leigh Fletcher, Simon, ” Fletcher, Joseph DePasquale, Mike Wong, “, Wong, Fletcher Organizations: CNN, Hubble, Science, Planetary Sciences, Goddard Space Flight, NASA, ESA, of Geophysical Research, UK’s University of Leicester, University of California Locations: Boise , Idaho, Greenbelt , Maryland, Berkeley

Hurricane Milton dumped so much rain over parts of Florida’s Tampa Bay area that it qualified as a 1-in-1,000-year rainfall event. Other significant rainfall totals across Florida included 14.01 inches in Clearwater Beach, 13.09 inches in Baskin, 11.43 inches in Tampa and 10.12 inches in Seminole. The National Weather Service issued a flash flood emergency for Tampa and St. Petersburg that lasted until 2:30 a.m. Preliminary measures on Wednesday indicated that 7 inches had fallen in St. Augustine, 7.38 inches in Titusville and 3.05 inches in Daytona Beach, according to the National Hurricane Center. Hurricane Milton has moved back out to sea, but additional rainfall and flooding are expected to persist through Thursday in parts of eastern and central Florida, according to the National Hurricane Center.

Persons: Milton, ” Matthew Cappucci, ” Milton, Hurricanes Milton, Helene, Augustine, National Hurricane Center . Hurricane Milton Organizations: National Weather Service, Hurricanes, National Hurricane Center, National Hurricane Center . Hurricane Locations: Florida’s Tampa Bay, St, Petersburg, Siesta, Florida, Clearwater Beach, Baskin, Tampa, Seminole, Milton, Gulf of Mexico, Titusville, Daytona Beach

Trump and the Republican Party have made “an unprecedented lean in and targeting of African American men,” Belcher said. Yes, it’s absolutely smart on their side.”But, he said, recent polling shows a shift among Black voters in the last month and a half toward Harris' campaign. “We want to make sure that Black men are showing up to vote in numbers that we haven’t seen since Obama. So victory and success for us will be record numbers of Black men showing up to vote in November.”He said there has been an Obama-like energy with Harris. Has anyone ever heard of Barack Hussein Obama?” Trump said as the Scranton crowd lit up with boos.

Persons: Barack Obama, Kamala Harris, Obama, Harris, Donald Trump, “, ”, Jesse Lee, —, ” Lee, Republicans — Obama, Mitt Romney, ’, Paulette Aniskoff, ” Aniskoff, ” Eric Schultz, ” Schultz, ” Harris ’, Harris ’, Obama pollster Cornell Belcher, Joe Biden, “ She’s, Belcher, Trump, ” Belcher, Quentin James, ” James, MAGA, ” Trump, decry, Barack Hussein Obama, Democratic pollster Anna Greenberg, ” Greenberg, Hillary Clinton Organizations: Indian, Black, Biden White, Republicans, NBC News, Obama White House, Trump, Democrats, Republican Party, Collective PAC, GOP, Democratic Locations: SCRANTON, Pa, Pittsburgh, Pennsylvania, Philadelphia, Scranton, America

☆ The science of how Hurricane Milton became such a monster
▼ + stars: | 2024-10-09 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. | ) www.nbcnews.com time to read: +8 min

The Summary Hurricane Milton intensified at one of the fastest rates in recorded history. At nearly every turn, Hurricane Milton has offered surprises. Milton is the strongest Gulf of Mexico hurricane since Hurricane Rita in 2005. However, Lin said, “that doesn’t make it any less dangerous.”Even with slower winds, Milton is expected to remain a major hurricane until landfall Wednesday night. “That would tie 2024 with 2005 and 2020 for 2nd most Gulf hurricane landfalls on record, trailing only 1886,” meteorologist Philip Klotzbach wrote on X.

Persons: Hurricane Milton, Milton, Campeche —, Chris Slocum, ” Slocum, ”, John Morales, Karthik Balaguru, Jonathan Lin, Milton “, Rita, Slocum, ” Lin, Milton “ wobbled, Lin, Hurricane Irma, Hurricane Helene —, —, Helene, Philip Klotzbach Organizations: Hurricane, Hurricanes, National Oceanic, Atmospheric Administration’s, NBC South, Climate Central, Pacific Northwest National Laboratory, Cornell University, National Hurricane Center, Tampa Bay, Atlantic Locations: Gulf, Mexico, Hurricane, Tampa Bay, Africa’s, Caribbean, Gulf of Mexico, Florida, Campeche, NBC South Florida, Milton, Tampa, Florida’s

A limited supply of IV fluid, stemming from damage caused by Hurricane Helene, is forcing some hospitals across the U.S. to postpone elective surgery and other nonemergency procedures to safeguard their stock. He also said the medical center has “doubled down” on efforts to prevent wasting IV fluid, as it’s the area’s only level 1 trauma hospital. A number of IV products, including sodium chloride, dextrose and sterile water, have already been in short supply. The Baxter facility shutdown hasn’t led to any new IV fluid shortages yet, the Food and Drug Administration said Tuesday. On Tuesday, the agency also helped safely move IV products from B. Braun Medical’s Daytona Beach facilities out of the path of Hurricane Milton, Dembner said.

Persons: Hurricane Helene, Helene, Eric Swensen, Swensen, —, “, Christine Hill, ”, Joe Biden, Baxter, it’s, Zachary Dembner, Braun, Dembner, Alli Longenhagen, ” Shea Siegert, ” Siegert Organizations: Baxter International, Braun, Minnesota Hospital Association, Baxter’s, UVA Health University Medical Center, Minnesota Hospital, Facebook, ”, ” Hennepin Healthcare, American Hospital Association, Food and Drug Administration, Department of Health, Human Services, FDA, Administration, Strategic Preparedness, HHS, Enloe Health, Alaska Native Tribal Health Consortium Locations: North Carolina, Daytona Beach , Florida, Baxter’s North Carolina, Charlottesville , Virginia, Culpeper , Haymarket, Manassas, U.S, ” Hennepin, Minneapolis, Hurricane, East, Gulf, Puerto Rico, Hurricane Milton, Chico , California

☆ Home Depot is requiring its corporate employees to do shifts at the company's stores
▼ + stars: | 2024-10-09 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Home Depot now requires corporate employees to spend one day each quarter working in a retail store. Beginning in the fourth quarter of this year, Home Depot will require corporate employees to spend a day each quarter working in a retail store to better understand what customer-facing roles entail. The policy applies to corporate employees, including senior management and remote workers. According to a memo from CEO Ted Decker, employees must complete an eight-hour shift four times a year, Bloomberg reported. If you are a Home Depot worker who wants to share your perspective, please contact Dominick via email or text/call/Signal at 646.768.4750.

Persons: —, We've, Ted Decker, Eric S, Raymond, Dara Khosrowshahi, Dominick Organizations: Software, Service, swatch, Home, Bloomberg, General Electric, Depot, Business

☆ Hurricane Milton isn't the end of our destructive storm season. There's likely more to come.
▼ + stars: | 2024-10-09 | by ( Jessica Orwig | ) www.businessinsider.com time to read: +6 min

AdvertisementThen hurricane season went quiet. There were no named storms between August 13 and September 3 — typically around when hurricane season is reaching its peak. CHANDAN KHANNA/Getty ImagesAt the start of the Atlantic hurricane season in June, NOAA predicted up to 13 hurricanes by the season's end. Joe Raedle/Getty ImagesThis year's unusual hurricane season may be a sign of things to come. AdvertisementRosencrans said that there's a large window for peak hurricane season, and the peak varies each year.

Persons: Milton, We've, Hurricane Milton, Hurricane Helene, Kelly Núñez Ocasio, What's, Debby, Ernesto, Hurricanes Helene, Niña, it's, Matthew Rosencrans, CHANDAN KHANNA, Rosencrans, Stephanie Zick, It's, Núñez Ocasio, Helene, Joe Raedle Organizations: NOAA, Service, Atlantic, Texas, University's Department, Atmospheric Sciences, Atmospheric Administration, Hurricanes, Colorado State University's Department of Atmospheric, Virginia Tech's Department of Geology Locations: Hurricane, Florida, Pacific, Florida's, Bend, Gulf of Mexico, Caribbean, Hurricane Milton, Gulf, St, Petersburg , Florida

☆ Former Google CEO Eric Schmidt: It's time for us to fully invest in AI infrastructure
▼ + stars: | 2024-10-08 | 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 EmailFormer Google CEO Eric Schmidt: It's time for us to fully invest in AI infrastructureFormer Google CEO Eric Schmidt argues it's time to fully invest in AI infrastructure, as current climate goals are too lofty to achieve.

Persons: Eric Schmidt

☆ Deloitte feels the wrath of Trump world over leaked JD Vance messages
▼ + stars: | 2024-10-08 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

CNN —Trump allies are calling for the federal government to punish Deloitte after an employee at the consulting firm apparently shared his private messages with JD Vance. The Post did not reveal who corresponded with Vance, now Trump’s running mate, and leaked those communications. “Maybe it’s time for the GOP to end Deloitte’s taxpayer funded gravy train?” Trump Jr. wrote on X, noting that Deloitte receives billions of dollars in government contracts. Trump Jr. told CNN he was speaking his mind as a private citizen. Neither Trump nor Vance have publicly threatened Deloitte, and it’s worth noting that Trump Jr. has indicated he does not plan to serve in the federal government.

Persons: CNN —, JD Vance, Donald Trump, Trump, Vance, Donald Trump Jr, ” Trump, Jason Miller, Trump Jr, “, ”, Kamala Harris, ” “, GOP Sen, Eric Schmitt, he’s, ” Jeffrey Sonnenfeld, John Deere, Davidson, ” “ Donald Trump, ” Richard Painter, George W, Bush, ” Painter, Painter, MAGA, Jonathan Gandal, Yale’s, ” Norman Eisen, it’s, ” Eisen Organizations: CNN, CNN — Trump, Deloitte, Washington Post, GOP, Trump, Department of Defense, Internal Revenue Service, Department of Homeland Security, Trump Jr, White, Yale, Leadership, Department, Google, Apple, Harley, US Postal Service, Motors, University of Minnesota, ”, ” Trump Jr, Post, Wall Street, ” “ Deloitte, “ Deloitte, Brookings Institution, DOJ

☆ 'Next dragon': Fund manager names an under-the-radar, 'very cheap' market to play right now
▼ + stars: | 2024-10-07 | by ( Amala Balakrishner | In Amala-Balakrishner | ) www.cnbc.com time to read: +5 min

Emerging markets on the MSCI list include Brazil, China, Greece, India, Indonesia, South Korea, Malaysia, Mexico, the Philippines, Qatar and Thailand. One fund manager, however, is looking outside that list, at an "up and coming emerging market and the next dragon in Asia" — Vietnam. "It's in a sweet spot in terms of economic growth, urbanization, labor market participation and having the right government policy. In spite of its strong growth, Vietnam is still not part of the MSCI Emerging Markets Index. A 'big theme' Mafli is betting on "high growth sectors" and stocks "doing well in underperforming sectors."

Persons: Li Mafli, Eric Sturdza, Mafli —, Mafli Organizations: Eric Sturdza Investments, Vietnam Prosperity, CNBC Pro, General Statistics Office, International Monetary Fund, FTSE, Index, Mobile World Investment, Infrastructure Locations: Brazil, China, Greece, India, Indonesia, South Korea, Malaysia, Mexico, Philippines, Qatar, Thailand, Asia, Vietnam

☆ See the Ocean Heat Fueling Hurricane Milton, in One Chart
▼ + stars: | 2024-10-07 | by ( Raymond Zhong | Mira Rojanasakul | ) www.nytimes.com time to read: +3 min

Source: Brian McNoldy; University of Miami Upper Ocean Dynamics LabSee the Ocean Heat Fueling Hurricane Milton, in One ChartThe energy that supercharged Hurricane Milton into a Category 5 storm on Monday came from the waters of the Atlantic Ocean, which have been abnormally warm not just at the surface, but at depth, too. The seas absorb most of the extra heat that carbon dioxide and other greenhouse gasses trap near Earth’s surface. So the same human-caused forces that have been bringing abnormal heat to towns, cities and landscapes are helping to warm the oceans. Ocean heat content is a metric that captures the amount of thermal energy stored from the sea surface down through the ocean depths. “It’s felt like an entire hurricane season has taken place over the past few weeks,” Dr. Wood said.

Persons: Jan, Brian McNoldy, Milton, Helene, Kim Wood, “ It’s, ”, Wood Organizations: University of Miami Upper Ocean Dynamics, Hurricane Milton, National Centers for Environmental, University of Arizona Locations: Gulf of Mexico, Gulf, Mexico, Milton, Asheville, N.C

☆ Former Google CEO Eric Schmidt says we should go all in on building AI data centers because 'we are never going to meet our climate goals anyway'
▼ + stars: | 2024-10-06 | by ( Kenneth Niemeyer | Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

AI models require enormous data centers that threaten goals to reduce carbon emissions. Schmidt said "we are never going to meet" the goals anyway, suggesting we let AI solve the problem. AdvertisementFormer Google CEO Eric Schmidt says it's time for us to fully invest in AI infrastructure because climate goals are too lofty to reach anyway. The AI boom has spurred a wave of spending on data centers, which provide the computational power needed to train and run AI models. But the surge in development comes at a price, as data centers consume huge amounts of natural resources.

Persons: Eric Schmidt, Schmidt, —, Biden, Schmidt's, Schmidt —, it's, we're Organizations: Service, McKinsey, Washington DC, National Security, Artificial Intelligence, Stanford University Locations: Washington, Ukraine

☆ ‘Ellen’ came out as gay nearly 30 years ago. TV hasn’t been the same
▼ + stars: | 2024-10-06 | by ( Scottie Andrew | ) edition.cnn.com time to read: +11 min

CNN —For months before the 1997 premiere of “The Puppy Episode,” the groundbreaking episode of Ellen DeGeneres’ hit sitcom “Ellen,” rumors swirled that the comedian and her fictional counterpart would come out as gay. Until “The Puppy Episode,” the character had rarely dated and mostly resisted romance, deviating from sitcom conventions of the time and frustrating network executives. Ellen Morgan never did get that puppy, but the episode made history as Ellen became one of the first out gay lead characters on TV. “That’s why it worked — because it was real.”How ‘The Puppy Episode’ got madeThe making of “The Puppy Episode” started with DeGeneres. Gay innuendos abound from the first episode of Season 4: A microwave or doorbell dings when a character says the word “gay,” Savel said.

Persons: Ellen DeGeneres, “ Ellen, DeGeneres, Ellen Morgan, jerking, Ellen, I’ve, Michael Eisner, Ellen wouldn’t, “ Ellen ”, Grace ”, Dava Savel, “ Ellen’s, She’s, ”, “, ’, ” Savel, who’s, Dean Valentine, Savel, Ellen ”, couldn’t, Susan, Laura Dern, Oprah —, she’s, ” Ellen, “ Susan, Tracy Newman, Jonathan Stark, Ron Galella, ” Rachel Loewen Walker, didn’t, Ellen Degeneres, ” Loewen Walker, Ellen ’, DeGeneres ’, Loewen Walker, who’ve, “ Will, Will, Jack didn’t, Mitchell, Cameron, Lily, Eric Stonestreet, Jesse Ferguson, Richard Cartwright, Arizona Robbins, ” DeGeneres, Savel hasn’t, It’s Organizations: CNN, Disney, ABC, University of Saskatchewan, CBS, Netflix, Getty, Peabody Locations: “, Galella, Alabama, Canada

Former President Barack Obama is wading into the Senate race in Michigan, endorsing Democratic Rep. Elissa Slotkin and starring in a new ad for her as some voters start to receive absentee ballots in the critical state. It’s the first time this election that voters will see a Senate ad from Obama as Democrats try to keep hold of the chamber, where they hold a 51-49 advantage. In the new ad, called “Make You Proud,” Obama underscores Slotkin’s national security experience before she represented Michigan’s 7th Congressional District. “In the Situation Room, Elissa delivered national security briefings on some of the toughest issues we were dealing with. That’s why I sent Elissa to negotiate on my behalf because she understood when to compromise and when to stand firm,” Obama says in the ad.

Persons: Barack Obama, Elissa Slotkin, Obama, Mike Rogers, Democratic Sen, Debbie Stabenow, ” Obama, Elissa, Harris, Governor Walz, ” Eric Schultz, Obama’s, “, Rogers, Donald Trump, Joe Biden Organizations: Senate, Democratic, GOP, Michigan’s, Congressional District, “, ”, White, U.S . Senate, Representatives Locations: Michigan

Former President Barack Obama will campaign for Vice President Kamala Harris in Pittsburgh next week, his first foray into the election as a battleground-state surrogate. The event, according to a senior Harris campaign official, will launch a larger effort by Obama, who intends to ramp up his campaigning for Harris in the final stretch of the election cycle. “President Obama believes the stakes of this election could not be more consequential and that is why he is doing everything he can to help elect Vice President Harris, Governor Walz and Democrats across the country,” Eric Schulz, a senior adviser to Obama, said in a statement. Harris and Obama’s relationship spans two decades, with the two first meeting as Obama was seeking election to the Senate in 2004. Grassroots fundraising content signed by Obama and events featuring him have generated more than $76 million for the campaign this cycle, a second senior Harris campaign official said.

Persons: Barack Obama, Kamala Harris, Harris, Obama, Governor Walz, ” Eric Schulz, Barack, Michelle Obama, we’ve, Tim Walz, ”, “ Michelle Obama, y’all —, ” Michelle Obama Organizations: Senate, ”, Democratic National Convention, NBC News, Grassroots, Obama Locations: Pittsburgh, “, United States, Angeles

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