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CNN —Argentina was the only country to vote against a United Nations resolution promoting the end of all forms of online violence against women and girls. During Thursday’s UN General Assembly session, the South American nation argued that the resolution contained ambiguous terms such as “hate speech,” “misinformation,” and “disinformation” that could be used “abusively” to restrict freedom of expression. A total of 170 nations voted in favor, while 13 others abstained, including Iran, Russia, Nicaragua, and North Korea. Milei, who ran on a libertarian platform, has rolled out drastic social and economic measures in Argentina since taking office. During Milei’s presidential campaign, he and his party were accused of making offensive remarks against LGBTQ communities which were deemed hate speech by multiple groups, including Argentina’s National Observatory of LGBTQ Hate Crimes.
Persons: Javier Milei, , Milei Organizations: CNN —, United, UN, Assembly, CNN, Ministry of Women, Ministry of Human, Justice Locations: CNN — Argentina, United Nations, Iran, Russia, Nicaragua, North Korea, Argentina
These are the most overbought stocks after Trump's win this week
  + stars: | 2024-11-08 | by ( Pia Singh | In | ) www.cnbc.com   time to read: +4 min
Several software companies could be due for a pullback after the stock market's roaring rally this week, fueled by president-elect Donald Trump's election victory as well as robust quarterly earnings reports. Shares of video game makers Take-Two Interactive Software and Electronic Arts are two of the stocks that are technically overbought right now, according to the analysis. The most overbought stock this week was human capital management software company Dayforce, with an RSI of 92.4. But higher prices and expectations of normalizing pricing, which helped Coke guide its organic revenue growth this year to the high end of a prior forecast, could lead the stocks higher. Other oversold stocks include power generation company AES , as well as radio frequency equipment maker Qorvo and Regeneron Pharmaceuticals — the latter two of which were also oversold the previous week.
Persons: Donald Trump's, Trump, Morgan Stanley, Mills, Dr Pepper Organizations: Major, Dow Jones, Nasdaq, CNBC Pro, Companies, Electronic Arts, Software, Gilead Sciences, AES, Regeneron Pharmaceuticals Locations: Major U.S, Gilead
Russia's brain drain has become its economy's biggest problem, an economist told Business Insider. The long-lasting nature of brain drain makes the issue more serious than, say, inflation, which could be remedied by central bank maneuvering. Over the next decade, Russia's economy could devolve into one dependent mainly on its natural resources rather than on the most innovative industries, Portes speculated. That's similar to what other economic forecasters have predicted, with some warning Russia's economy could become de-industrialized as its resources are siphoned off by the war. Advertisement"It will be reduced to a resource economy, a natural resource economy," he said of Russia's future.
Persons: , Richard Portes, they've, Portes Organizations: Service, London Business School, Russia, French Institute of International Relations, Business, Institute of Economics, Russian Academy of Sciences, Labor, Russian, UC Berkeley Locations: Russia, Ukraine
The news In a note to clients on Tuesday, RBC Capital Markets described LinkedIn as an "underappreciated growth driver." Revenue rose roughly 10% to $4.29 billion in fiscal Q1, driven by growth across all lines of its business. While not a crucial part of Microsoft's overall top line, it's still an incremental driver of revenue growth and can help the company further diversify its income streams. The morning after last week's earnings Jim Cramer said Microsoft shares below $400 each would be an interesting buy level. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Satya Nadella, OpenAI, Jim Cramer, Jim Cramer's, Jim, Beata Zawrzel Organizations: Microsoft, RBC Capital Markets, RBC, LinkedIn, Revenue, CNBC, Nurphoto, Getty Locations: India, Brazil
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFiscal discipline in Indonesia can continue, former trade minister saysFormer Indonesian Trade Minister, Mari Pangestu, says maintaining consumption levels and increasing investments are the answer to achieving the government's 8% growth target. She also discusses the steps and challenges to developing Indonesia's human capital and productivity.
Persons: Mari Pangestu Organizations: Indonesian Trade Minister Locations: Indonesia
During a virtual roundtable, we asked Business Insider's Workforce Innovation board to tell us how AI would transform companies over the next year. How will the most innovative companies be transformed by AI over the next 12 months? Last year, we had an AI challenge across the company, and a huge percentage of our employees participated. There are a lot of different points of view on what AI will and will not do and how quickly. And that the promise we think AI is going to deliver will probably take longer than we think to come to fruition.
Persons: Tim Paradis, Vinod Khosla, Khosla, upskilling, Justina Nixon, Nixon, Saintil, AARP's Marjorie Powell, Powell, Chris Deri, Anant Adya, Marjorie Powell, Alicia Pittman, We've, We're, It's, coder, Maggie Hulce, Salesforce, what's, Chen, we've, Weber, everybody's, Anant, Shane Koller, Tipton Organizations: Sun Microsystems, Weber, IBM, Saintil, Infosys, AARP, Boston Consulting, Clear, Federal Housing Finance, Street Locations: Dreamforce, San Francisco, Tipton
Incoming President Subianto has promised to continue the charge toward making Indonesia a high-income economy. Economic reforms passed through by the outgoing president will make the achieving Indonesia's grand vision easier. "Widodo put in place a bunch of economic reforms, the most noticeable being making it easier to hire and fire new workers. Indrawati hopes to avoid "the middle-income trap" — an economic development situation where growing economies stagnate at middle-income levels and are unable to advance to the ranks of high-income countries. Major policy reforms, she believes, will help Indonesia sidestep that.
Persons: Sri Mulyani Indrawati, CNBC's, Joko Widodo, Prabowo Subianto, Subianto, Widodo, Gareth Leather, Indrawati Organizations: Afp, Getty, country's Finance, International Monetary Fund, Defense, Capital Economics, CNBC, Lowy Institute Locations: Jakarta, Indonesia, Washington, Australian, China, Asia
Here are Tuesday's biggest calls on Wall Street: Piper Sandler initiates Colgate-Palmolive and Church & Dwight as overweight Piper said both consumer products company offer an attractive risk/reward. Piper Sandler upgrades Salesforce to overweight from neutral Piper said it sees an attractive risk/reward for the stock. Bernstein reiterates Amazon as outperform Bernstein said advertising is "key to the bull case once again" for Amazon. Wedbush upgrades Comerica to outperform from neutral The firm added the regional bank to its best ideas list. " CFRA reiterates Nvidia as buy The firm says it sees Nvidia with "sustained compute demand" over the coming years.
Persons: Piper Sandler, Dwight, Piper, Baird, Jefferies, it's bullish, Raymond James reinstates Uber, Raymond James, Goldman Sachs, Goldman, KeyBanc, Morgan Stanley, immuno, Oppenheimer, Lowe's, Redburn, it's, Truist, Baird downgrades McKesson, Needham, Apple, Pinterest, Leerink, Guggenheim, Tesla, TSLA, Bernstein, CFRA Organizations: Colgate, Palmolive, Church, Jefferies, Starbucks, Avidity Biosciences, BP, Exxon, Costco, Walmart, Apple, GE Vernova, UBS, Citi, Mastercard, Visa, U.S, DOJ, Comerica, CMA, Nvidia
Starbucks shares may be due for some downside, according to Jefferies. Analyst Andy Barish downgraded the stock to underperform from hold and cut its price target by $4 to $76. While shares have already fallen about 0.6% this year, they have surged around 24% since the CEO announcement. Barish expects there to be low visibility in China and the U.S. in the near term and sees fiscal 2025 guidance coming in lower than expected. He thinks the long-term growth algorithm should be revised lower as well.
Persons: Andy Barish, Brian Niccol —, Barish, Niccol's, Niccol Organizations: Jefferies Locations: China
Local residents with umbrellas walk out of a metro station in rain during morning rush hour on September 20, 2024 in Beijing, China. China News Service | China News Service | Getty ImagesBEIJING — More economists are calling for China to stimulate growth, including those based inside the country. His presentation Saturday at Renmin University's China Macroeconomy Forum was titled: "A basket of stimulus and reform, an economic revitalization plan to substantially expand domestic demand." "The elephant in the room is the property market," said Xu Gao, Beijing-based chief economist at Bank of China International. To restore confidence and stabilize the property market, Xu said that policymakers should bail out the property owners.
Persons: Liu Shijin, Liu, Goldman Sachs, China's, Xu Gao, Xu, Nomura, Gabriel Wildau, Teneo, Yi Gang, Wildau, Yi Organizations: China News Service, Getty, Development Research, State Council, CNBC, China Macroeconomy, Goldman, Bank of China International, Center for, People's Bank of China Locations: Beijing, China, BEIJING, Renmin, Center for China, U.S
Market disconnectsSpeaking of mistakes in the market, Rosenthal thinks the current composition of the market is untenable and due for a correction. "We don't think the equal-weighted S&P or any kind of index ex the Mag Seven is at an extremely low valuation," Rosenthal said. Rosenthal holds CVS (CVS) in his portfolio. Nippon Sanso (NPXYY) is a Japanese oil and gas company that Rosenthal believes is undervalued. Combined with the structural tailwind of corporate reforms within Japan, Rosenthal believes this Japanese company's stock is well-positioned to appreciate in the coming years.
Persons: , Scott Rosenthal, Rosenthal, Rosenthal's, it's Organizations: Service, Hotchkis & Wiley Capital Management, Wiley Global Value Fund, Business, Econ, CVS, Nippon Locations: Japan
Read previewPwC says workers won't return to the office five days a week — and it's time for companies to see hybrid work as the new normal. "Hybrid workers have higher degrees of satisfaction and productivity than fully on-site," Anthony Abbatiello, workforce transformation leader and partner at PwC, told Business Insider. PwC's research found that hybrid workers are likelier to feel they belong at their company than fully on-site or remote workers. We came out with five signals that the research identified that are crucial for workforce transformation," Abbatiello said. AdvertisementAccording to Abbatiello, companies should be both "talent magnets" that attract emerging talent and "talent factories" that help existing workers stay and build careers.
Persons: , Anthony Abbatiello, Abbatiello, Goldman Sachs, PwC, they're Organizations: Service, Business, Companies, Big Tech
I'm a management and senior policy analyst at the US Department of Housing and Urban Development (HUD) in Washington, DC. After transitioning from military to civilian life in 2012, I worked as a policy analyst and technical writer at Sage Management. I love my new role and would've left to pursue a fully remote role if this didn't happen at HUD. I work around these challenges by building relationships with other program offices within HUD to collaborate and get the work done. Within the HUD Veterans Affinity Group, we established the Women's Group to talk monthly with and support women veterans.
Persons: , Ebony Grey, It's, I've, would've Organizations: Service, US Department of Housing, Urban Development, Business, Air Force, Sage Management, HUD, Affinity Group, ACT, Education, Federal, Veterans Affinity Group, Blacks, American Federal Executive Association, Young Government Locations: Washington ,, Afghanistan, Government
However, working from home can have drawbacks when it comes to taking a lunch break. "If you're really working around the clock, until let's say dinner time and don't take that break, it's not contributing to the longevity, sustainability, and overall health of employees," Tavis said. Overworking and burnout from not taking a proper break can also contribute to mental health issues, Tavis said. AdvertisementEmployers need to do moreDiRose said the best preventive measure to ensure employees are taking breaks is more training. Tavis said that for hybrid setups, managers need to make sure they encourage staff to take lunch on in-office days.
Persons: , Isabel Berwick, Nick Bloom, Mark Mortensen, it's, Mortensen, Anna Tavis, Tavis, Janice DiRose —, DiRose, they're Organizations: Service, Employees, Business, Financial, Stanford University, Netflix, New York University, Engage, Florida —, Fair Labor, Employers Locations: Florida
Last week, NFL team owners voted to allow an initial group of private equity firms to acquire up to a 10% stake of a franchise. "This isn't a case where private equity is going to come in and have influence on the franchise." Private equity has been eager to take stakes in sports as team valuations rise, mainly due to ballooning media rights deals. As investors, private equity firms often take management and board roles. Private equity investments typically have a set duration — it can range from three to seven years in many cases — and an expected return.
Persons: Ric Tapia, Steve Pagliuca, Shirin Malkani, Perkins, Anthony Mulrain, Toney, Angela Weiss, Michael Considine, Ellis, Jimmy Haslam, Mulrain, Eric Washington, Robin Alam Organizations: NFL, Los Angeles Rams, Houston Texans, NRG, Getty, National Football League, Bain Capital, CNBC, Washington, Denver Broncos, Carolina Panthers, Holland, Kansas City Chiefs, Philadelphia Eagles, Farm, Afp, National Basketball Association, Major League Baseball, National Hockey League, Major League Soccer, Kirkland, Cleveland Browns, Knight's, Buffalo Bills, Microsoft Locations: Houston, U.S, Glendale , Arizona, Holland
Chewy — The pet retailer stock advanced more than 2% on an upgrade from Piper Sandler to outperform from neutral. The company also announced a $300 million stock buyback plan. The company topped earnings estimates by 9 cents a share and matched revenue estimates of $5.25 billion. Workday posted adjusted earnings per share of $1.75 on $2.09 billion in revenue. Analysts polled by LSEG had forecasted $1.65 earnings per share and revenue of $2.07 billion.
Persons: Piper Sandler, Warby Parker, Warby, Wells, Bill.com, LSEG, , Samantha Subin, Jesse Pound, Pia Singh Organizations: , JPMorgan, JMP Securities, UBS, BJ's Wholesale, Ross Locations: Vegas, Macau, Wells Fargo
Despite companies' high expectations for productivity gains from generative AI technology, workers are finding far different results when those tools are added to their jobs. Nearly all of C-suite leaders — 96% — polled in an Upwork Research Institute study in July said they expect the use of gen AI tools to increase their company's overall productivity levels. More than 75% of employees said gen AI tools have even decreased their productivity and added to their workload. Meanwhile, companies are also increasing their spending on new AI tools. Finding a better way of matching executive expectations and worker outcomes is critical if companies want investments in generative AI to pay off.
Persons: Joe Atkinson, Atkinson Organizations: Research, CNBC Technology, PwC
Struggling to feed her family after losing her job as a cleaner earlier this year, 56-year-old Norma Villarreal went to church Wednesday in the hardscrabble outskirts of Buenos Aires and waited in the pre-dawn darkness for over an hour to petition St. Cayetano, the patron saint of bread and work. Throughout decades of political change in Argentina, the annual Aug. 7 pilgrimage to St. Cayetano Sanctuary has served as a potent, and grim, reminder that in Argentina, economic despair remains a constant. But this year might be unique in one thing: The desperation over rising joblessness that drives Argentines to call on St. Cayetano has been matched by rage at the painful austerity program of libertarian President Javier Milei. While Milei has prioritized combating the country’s dizzying inflation rate — which fell in June to 4.2% month on month, the lowest since January 2022. Unemployment has become a growing concern as Milei’s government freezes public works projects and shutters ministries in his campaign to cut down the state.
Persons: Norma Villarreal, Cayetano, ” Villarreal, Javier Milei, Milei, , Ana Maria Muñoz, hasn’t, , I’m, Orlando Ortega, we’ve, Milei’s, Wednesday’s, Manuel Adorni, Rodolfo Aguiar Organizations: Roman Catholic, National Secretariat for Children, Ministry of Human, ” Union, State Workers Association Locations: hardscrabble, Buenos Aires, Naples, Argentina, St
There is a major opportunity for Vice President Kamala Harris and the Democrats in the House and Senate to set our country on a different course. At a time when massive technological shifts are happening around the world, what the former Google C.E.O. In this moment, we need a leader who recognizes that innovation is the key to economic prosperity, national security and breakthrough progress on climate change and other pressing issues. She was California’s attorney general during the smartphone boom of the 2010s, when tax revenues from tech company I.P.O.s and stock market gains turned California’s budget deficits into surpluses and reinforced the state’s standing as the world’s innovation leader. Ms. Harris’s familiarity with the needs of the tech industry and her ability to innovate and protect the public interest mark her as a 21st-century leader.
Persons: Kamala Harris, Eric Schmidt, America’s, Harris, Ms Organizations: Google Locations: Francisco’s
Despite its progressive intentions, the tax failed to raise sufficient revenue for the monarch, as people boarded up their windows to lower their tax liability. Window tax was a property tax based on the number of windows in a house. In addition, the minister also lifted capital gains for stock market investors who cash in within a year from 15% to 20%. While the tax raises more than £3 billion ($3.9 billion) annually, it has given birth to far riskier forms of speculation while simultaneously hurting the stock market. However, given the lofty valuations that Indian stock markets currently trade, the tax to skim the excesses might be a positive development over the longer term.
Persons: Nirmala Sitharaman, Ajay Aggarwal, King William III of, Mike Kemp, Upasana Chachra, Morgan Stanley, Siddhartha Khemka, Motilal Oswal, Michael Langham, Abrdn, it's, JPMorgan's Jahangir Aziz, Aziz, Raghuram Rajan, Suman Bery, Bery Organizations: Union Finance, Budget Press Conference, National Media Centre, Hindustan Times, Getty Images, Getty, Budget, Motilal, Institute for Fiscal Studies, Reuters, CNBC, Health, Reserve Bank of India Locations: DELHI, INDIA, New Delhi, India, Mayfair, London, United Kingdom, England, Britain, Kerala, Malaysia, Nipah
Opinion | J.D. Vance and the Tech-Trad Alliance
  + stars: | 2024-07-19 | by ( Ross Douthat | ) www.nytimes.com   time to read: +3 min
Just over seven months ago, the talented pseudonymous writer Trace Woodgrains wrote an essay announcing the Republican Party’s doom — not the doom of electoral irrelevance, since the G.O.P. Vance as Donald Trump’s running mate and the recent surge of support for Trump’s campaign from Silicon Valley, Woodgrains reconsidered the durability of his diagnosis. The Vance pick, he wrote, suggests that “the G.O.P. is looking to make an appeal to anti-woke Silicon Valley or finance types to fill the void left by the Republican Party’s competency crisis,” with Vance himself as an exemplar of what a right-leaning counter-elite might look like. suddenly has more support in Silicon Valley than in 2020 or 2016.
Persons: Trace Woodgrains, , Woodgrains, Trump, J.D, Vance, Donald Trump’s, it’s, Peter Thiel, it’s Elon Musk, Marc Andreessen, pander, Reed Albergotti, Noah Smith Organizations: Biden, Republican, Cathedral Locations: United States, Silicon Valley
Africa is doubling down on its space ambitions
  + stars: | 2024-07-17 | by ( Amy Gunia | ) edition.cnn.com   time to read: +8 min
“It was really giving me a hard time in my mind.”Now Ouattara is helping to lead Africa into space. Early this year, Ouattara became the first president of the African Space Council, which oversees the newly inaugurated African Space Agency (AfSA). VCG/Getty ImagesAfrica’s space industry could be worth $22.6 billion by 2026, up from $19.5 billion in 2021, according to the consultancy Space in Africa. Better data from Earth observation could unlock more than $2 billion in value for Africa, according to a 2021 report by the World Economic Forum. More than 20 countries now have national space programs, and African nations budgeted more than $400 million for the sector in 2024, according to Space in Africa.
Persons: Tidiane Ouattara, , , Ouattara, Temidayo Oniosun, Aloyce, Deche, Andrew Nyawade, Simon Maina, that’s, “ It’s, Oniosun, ” Oniosun, ” Ouattara Organizations: CNN, Moon, African Union Commission, African Space Council, Space Agency, , World Economic, World Bank Group, Kenya Space Agency, University of Nairobi, Getty, African Development Bank, European Space Agency Locations: Ivory Coast , West Africa, stargaze, Canada, Africa, Ivory Coast, Inner Mongolia Autonomous Region, China, Egypt, Cairo, ” Africa, South Africa, Ghana, Kenya, Bulgaria, AFP,
CNN —It was an attack that sent shockwaves through a country long considered a pioneer in LGBTQ rights. Local LGBTQ rights advocates condemned the attack as a hate crime and lesbicide, saying the women were targeted because of their sexual identity. After taking office in December, Milei took steps that critics say weakened protections for LGBTQ groups. The recent attacks have galvanized activists to fight for new policies and actions that would further protect LGBTQ rights. He also said that to reduce attacks on LGBTQ communities, their voices and demands should be amplified in more societal sectors.
Persons: Pamela Fabiana Cobas, Mercedes Roxana Figueroa, Andrea Amarante, Sofía Castro Riglo, Pamela, Roxana, Andrea, Sofía, Gabriela Conder, , ” Conder, aren’t, Javier Milei, , Maria Rachid, , ” Rachid, Juan Mabromata, Milei, Diana Mondino, Don’t, Martin Cossarini, ” Esteban Paulón, ” “, Jesi Hernández, Barracas, Rachid, ” Hernández, Sofia, Conder, Manuel Adorni, ” Adorni, Adorni, lesbicide, Paulón, Hernández Organizations: CNN, Local, Police, Argentine LGBT Federation, Getty, I’m, Ministry of Women, Ministry of Human, Justice, Pride, Reuters, ” CNN, National Observatory, Progressives, University of San Locations: Argentina, Barracas, Buenos Aires, Conder, AFP, , Sofia’s, Argentina Argentina, America, University of San Andrés
Read previewOakland was once home to three major sports teams: the Golden State Warriors, Oakland Raiders, and Oakland Athletics. The Oakland Ballers raised $2 million from 53 individual investors. Before founding the Ballers, Freedman was a serial entrepreneur in the human capital and education sectors. "We're a minor league team in a major league market," Freedman said. Check out the 15-slide pitch deck the Ballers used to raise $2 million:
Persons: , Paul Freedman, Freedman, Bryan Carmel, " Freedman, Carmel, Michael Fitzgerald, Gagan Biyani, Biyani, Kara Nortman, Angel City, Alexis Ohanian, Serena Williams, Natalie Portman, Williams, Venus, Tiger Woods, Rory McIlroy Organizations: Service, Golden State Warriors, Oakland Raiders, Oakland Athletics, NBA's Warriors, NFL's Raiders, Las, MLB's Athletics, Business, Oakland, Pioneer League, MLB, Education, A's, Maven, Area, cofounding Angel City Football Club, Angel, TGL Locations: San Francisco, Las Vegas, Oakland, Ireland, Ballers, Los Angeles, Ohanian
AI could supercharge offshoring
  + stars: | 2024-06-16 | by ( Tim Paradis | ) www.businessinsider.com   time to read: +11 min
There's another possibility, however: Someone who knows how to use AI — and who's based abroad — will come for your job. AdvertisementAndrew Yeung, a former product lead at Google and Meta, predicted in May that overseas workers who get their AI glow-up will someday take over numerous jobs. And it's not just learning about AI, but learning from AI. AI is also making it cheaper to bring lessons on AI and other topics to people in languages other than English. AdvertisementThe time it took for earlier technologies — including automation and robotics — to rejigger the labor market was longer than what we're seeing with Gen AI, Vincent said.
Persons: , Andrew Yeung, Sagar Khatri, Khatri, Everyone's, Jeff Maggioncalda, Maggioncalda, Coursera, Daron Acemoglu, they're, Acemoglu, Scott Vincent, Vincent, he's, Offshoring, you've, Drew Cesario Organizations: Service, Business, Google, Sagar, Massachusetts Institute of Technology, Philippines . " Workers, Digital Futures, Futures, Cesario Locations: New York, Philippines, Mexico, India, Pakistan, Brazil, Vietnam, Egypt, Japan, Germany, Indonesia
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