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☆ This 22-year-old once dreamt of becoming a software engineer—instead, she just directed her first TV commercial
▼ + stars: | 2024-12-03 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Ash Xu once thought she'd grow up to be a software engineer just like her dad. Instead, the 22-year-old is fresh off directing her first TV commercial. Later that year, she landed her first paid gig to film a commercial for an online brand. She also started to realize "my dreams of becoming a commercial director aren't as far away as I thought." Her TV commercial directing debut taught her "I don't have to be the most knowledgeable or perfect person in the room," she says.

Persons: Ash Xu, she'd, Xu, aren't, Taco, she's, I've Organizations: Bay Area, YouTube, Northwestern, CNBC, Taco Bell Locations: Bay, New York City

LUANDA, Angola — President Joe Biden will make history Monday as he becomes the first American head of state to visit the West African nation of Angola, where he will showcase U.S.-backed infrastructure projects designed to link three nations. Biden will also announce initiatives related to global health and security cooperation, among other things, a senior administration official said Friday. “We’re preparing the ground for eventually reaching all the way to Tanzania, connecting the Atlantic and Indian oceans,” a second administration official said Friday, of the system which also runs through Zambia and Congo. U.S. investment, the senior administration official said, is spurring economic growth for people in Africa in ways that Chinese spending isn’t. Carlo Angerer reported from Luanda, Angola, and Aaron Gilchrist from Washington, D.C.

Persons: Joe Biden, Biden, João Lourenço, We’re, Ulisses Correia e Silva, Hurricane Milton, Carlo Angerer, Aaron Gilchrist Organizations: U.S, White, Angolan, Slavery Museum, Democratic, China Global Locations: LUANDA, Angola, West African, Saharan Africa, Luanda, Lobito, Tanzania, Zambia, Congo, China, Africa, Democratic Republic of the Congo, U.S, Cabo Verde, Hurricane, Washington ,

☆ New Orleans art triennial: Artist Amanda Williams revives George Washington Carver’s century-old patent for blue paint — and a powerful history
▼ + stars: | 2024-12-01 | by ( Jacqui Palumbo | ) edition.cnn.com time to read: +10 min

He had discovered the iron-rich soil could be used in a chemical reaction with a potassium compound and nitric acid to produce a vibrant blue pigment. But over the past three years, the Chicago-based artist and architect Amanda Williams has been reviving Carver’s blue with the help of researchers and scientists. “So there was a practicality to it, but there was also ingenuity in figuring out that things around you can yield unexpected results.”An arts building at Xavier University painted in Carver blue. GBM Historical Images/ShutterstockFor Carver, color was a tool to beautify the homes of the region’s poorest residents that could be achieved through natural resources. Courtesy the artistBut for her commission for Prospect.6, titled “In Her Rich Deposits of (Blue),” Williams chose to focus on “signaling joy, and not inequity or disparity,” she said.

Persons: George Washington Carver, Pablo Picasso, Hokusai, Carver, Amanda Williams, ” Williams, Tom Harris, Williams, —, Sheen, ”, Kramer, “, Booker T, Yves Klein, Klein Organizations: CNN, Tuskegee University, Xavier University, Chicago World’s, The University of Chicago, New Orleans African American Museum, Prospect, Tuskegee, Washington, “ Locations: Berlin, Kanagawa, ”, Chicago, New Orleans, Tremé, NOAAM, Montgomery , Alabama, Side, Englewood, Black, Washington

☆ How GE Vernova plans to deploy small nuclear reactors across the developed world
▼ + stars: | 2024-11-30 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

GE Vernova is aiming to deploy small nuclear reactors across the developed world over the next decade, staking out a leadership position in a budding technology that could play a central role in meeting surging electricity demand and reducing carbon dioxide emissions. GE Vernova is the spinoff of General Electric's former energy business. The U.S. government wants to triple nuclear power by 2050 to shore up an electric grid that is under growing pressure from surging power demand. GE Vernova is targeting more than $2 billion in annual revenue from its small reactor business by the mid-2030s. GE Vernova won the first commercial contract in North America to deploy a small modular reactor for Ontario Power in January 2023.

Persons: Nicole Holmes, Holmes, Kenneth Parks, GE Vernova Organizations: GE, GE Hitachi, GE Vernova, New York Stock Exchange, CNBC, GE Vernova's SMR, U.S, Bank of America, America, Ontario Power, Tennessee Valley Authority, Energy, Toronto . Ontario Power Locations: Cambridge, U.S, Canada, United Kingdom, Europe, Poland, North America, Darlington, Lake Ontario, Toronto

☆ Workplace wellness expert: My top 3 tips to get ahead of holiday stress—'It's such a crazy time of year'
▼ + stars: | 2024-11-29 | by ( Jennifer Liu | ) www.cnbc.com time to read: +2 min

"It's such a crazy time of year," says Gloria Chan Packer, a workplace mental wellness expert and founder of Recalibrate. Here, she shares her best tips for what you can do now to get ahead of holiday stress. To rein it in, Packer recommends starting every week by reviewing your commitments, deadlines and deliverables for the next seven days. For those who have a hard time doing so, Packer recommends tying breaks into things you do every day. If something comes up, it's OK to move your protected time block, Packer says.

Persons: Gloria Chan Packer, Packer

☆ Neom is a '50-plus-year plan,' says Saudi Arabia's finance minister
▼ + stars: | 2024-11-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

Neom is one element, and its finance minister said the project is a "very long-term program." Saudi Arabia's finance minister has described the kingdom's ambitious Neom project as a "very long-term program" and returns should not be expected in the coming years. AdvertisementSaudi Arabia forecast a $26.8 billion deficit for 2025, or about 2.3% of GDP, in its Budget statement on Tuesday. The Saudi economy has contracted in recent years as the changes take place and global oil prices have declined. NeomIn 2022, Saudi Arabia was the fastest-growing G20 economy, according to the IMF.

Persons: Mohammed Al Aljaadan, Neom, Aljaadan Organizations: Reuters, IMF, Saudi Locations: Saudi Arabia, Neom, Saudi, Yemen, Saudi's

☆ Super-polluters are venting an invisible, planet-warming gas into the atmosphere
▼ + stars: | 2024-11-27 | by ( Ella Nilsen | Laura Paddison | ) edition.cnn.com time to read: +5 min

It is hunting for leaks of methane — an invisible, super-polluting gas that is dramatically warming the planet. Although it’s leaking less overall than the Permian Basin, for example, it’s an older basin — with older, leaky equipment — that’s producing far less oil and gas. Natural gas is flared Andrews, Texas, part of the Permian Basin, in March 2022. Dilapidated equipment tends to be leakier, and in parts of the Caspian Basin, gas is often treated as a waste product and vented or flared. But because of Venezuela’s proximity to the tropics and frequent cloud cover, capturing its methane emissions has proved challenging.

Persons: ”, Ritesh Gautam, Antoine Halff, Julian Quinones, ” Gautam, Andrews, Joe Raedle, MethaneSAT, Rob Jackson, Jackson, ” Jackson Organizations: CNN, Environmental Protection Agency, Getty, Carbon Project, Stanford University, “ Companies Locations: —, Appalachia, Utah’s Uinta, Turkmenistan, Venezuela, Caspian, Andrews , Texas, “ Turkmenistan, Soviet, American

Former Formula 1 world champion Mario Andretti will be a director on the board of the newly approved Cadillac F1 team, which puts a famous American car maker with racing partner Andretti Global on the grid in 2026. An elated Mario Andretti spoke to NBC News about achieving his dream and his role in the new team: advising on driver selection and the technical side. Do you know when this team is going to become a “works” team with its own power unit? For F1’s U.S. audience, this is a huge deal — finally an American car manufacturer and a well-known racing team Andretti. Ten teams seems a lot, but there’s a lot more drivers, lot more talent out there.

Persons: Mario Andretti, Andretti, Dan Towriss, Michael Andretti, Ferrari, ”, Mario, You’ll, Niki Lauda, Mercedes, Michael, That’s, wasn’t, Ferrari —, it’s Mercedes, We’re, that’s, you’re, —, Colton Herta, — he’s, we’re, Valtteri Bottas, Liam Lawson, it’d Organizations: Cadillac, Andretti Global, Andretti, GM, NBC News, Olympics, Ferrari Locations: American, Italy, Las Vegas

☆ Escaping the 'Perfection Trap'
▼ + stars: | 2024-11-26 | by ( Sponsored Ibm | ) www.businessinsider.com time to read: +5 min

Many organizations experimenting with AI may find themselves stuck in a "perfection trap," reluctant to deploy anything less than 100% complete. This widespread hesitation to move forward can hinder AI progress — and very few organizations have moved beyond the experimentation phase. Roughly 80% of surveyed AI leaders report data-related challenges, including governance concerns. By avoiding the perfection trap, leaders can foster sustained innovation and maximize the value of their AI investments. Read the AI in Action 2024 report to learn more about how IBM can help you turn AI experiments into transformative solutions.

Persons: Winston Churchill, Cathy Reese, hesitancy, Reese Organizations: Public Data, Technology Service, IBM Consulting, IBM, Insider Studios

☆ How Bluesky rose out of Twitter's ashes to challenge X and Threads
▼ + stars: | 2024-11-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +10 min

And while these larger social media platforms still dwarf Bluesky, the startup now has more than 22 million users and is not showing any signs of slowing down. Bluesky had experienced a previous surge in July 2023 after X, then still named Twitter, temporarily limited the number of posts users could read per day. Just days before Musk officially took over Twitter, the Bluesky team publicly unveiled more details about their project and rolled out a waitlist for the Bluesky app. Despite Bluesky starting as a side project within Twitter, the startup has lost its last connection to the original micro-blogging app. Bluesky is looking for ways to support the users "who are actually the ones making the network awesome and fun," Wang said.

Persons: Rose Wang, Elon Musk's, Bluesky, Wang, David Carr, Carr, Jay Graber, Jack Dorsey, Jay, Graber, Daniel Holmgren, Paul Frazee, Dorsey, Parag Agrawal, Musk, Nostr, Jack, we're, Mark Zuckerberg, Jack Johnston, Johnston, Gen, That's, It's, Similarweb's Carr Organizations: Twitter, CNBC, Brazilian Supreme, Google, Yahoo, Myspace, Facebook, Anthropic, Delaware State, PBLLC, Bluesky, Blockchain Capital, Blockchain, cryptocurrency Locations: Brazil, San Francisco

☆ Bluesky is growing so fast it's racing to get hold of more servers, its chief operating officer says
▼ + stars: | 2024-11-23 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +4 min

AdvertisementBluesky's user base surged to 21 million, prompting the company to race to get more servers. Its growth follows users leaving X, with over 280,000 closing their accounts on Election Day. Bluesky has "blown past" its user growth projections so much that it's racing to get more servers to keep the site running smoothly, the social media platform's chief operating officer has said. AdvertisementThe social media network has surpassed 21 million users, up from 13 million in October, as X users have left in droves and flocked to the platform. The US election appears to have triggered a migration of X users to Bluesky, which has been praised because of its similarity to the "old Twitter."

Persons: Rose Wang, Bluesky, Wang, Gordon MacMillan, X's, Elon Musk, Donald Trump, Jack Dorsey, Jay Gruber, Dorsey, Musk, Elon Organizations: Twitter, Wired

☆ It's time to get serious about fixing the nation's power grid. That puts these stocks in a sweet spot
▼ + stars: | 2024-11-23 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

The U.S. electric grid needs a total body makeover. With Duke Austin, a fourth-generation lineman, at its helm, Quanta Services has a long history in electric power infrastructure. The backbone of the electric grid Transmission and distribution is the backbone of the electrical grid, delivering power from generation sites to consumers. PWR YTD mountain Quanta Services shares year to date MasTec MasTec has been in comeback mode. MYR Group Goldman expects MYR Group is well positioned for 2025.

Persons: Neil Mehta, Goldman Sachs, weren't, Goldman, Mehta, Duke Austin, Carly Davenport, Davenport, Austin, Goldman's Mehta, they're, MasTec, Jose Mas, MasTec's, Truist, Jamie Cook, McCoy, Cook, Ati Modak, Modak, MYR Organizations: U.S, Edison Electric Institute, MYR, CNBC, Management, MYR Group Locations: U.S, Austin

☆ Trump’s Labor secretary pick is surprisingly pro-union. It doesn’t mean his administration will be
▼ + stars: | 2024-11-23 | by ( Chris Isidore | ) edition.cnn.com time to read: +9 min

New York CNN —This week ended with President-elect Donald Trump nominating one of the most pro-union Republican members of Congress to be his secretary of Labor. Trump support growing among unionsTrump received more support from rank-and-file union members in this election than he had in past elections. “Now he is threatening to take the unprecedented action of removing current pro-worker NLRB members in the middle of their term, replacing them with his corporate friends. Nearly half of the nation’s union members work for different units of government, not companies. Many of the public-sector bargaining rights are not set at the national level, but at the state level, where most public-sector employees and union members work.

Persons: Donald Trump, Elon Musk, shouldn’t, Lori Chavez, DeRemer, “ Lori Chavez, “, United States —, Chavez, Biden, Kamala Harris, Joe Biden, Harris, It’s, Mitt Romney, Sean O’Brien, Trump, O’Brien, Becky Pringle, Pringle, Donald Trump’s, ”, ” Pringle, ” Jody Calemine, Calemine, Jennifer Abruzzo, Musk, he’s, Todd Vachon, ” Vachon, “ I’m, ” “, “ Trump Organizations: New, New York CNN, Republican, Labor, National Labor Relations Board, Labor Department, AFL, United, Trump, CNN, United Auto Workers, Teamsters, Convention, National Education Association, NLRB, Biden, SpaceX, Occupational Health, Safety Administration, Musk, Tesla, UAW, Labor Education Action Research Network, Rutgers, National Employment Law, Competitive Enterprise Institute Locations: New York, United States, unionize

North Carolina lawyer Katie Jenifer is trying to prepare one year’s worth of estrogen for her transgender daughter. If the Trump administration still allows trans people to change the gender marker on their passport, Greenesmith said, it might require them to provide proof of gender-reassignment surgery, putting gender-marker changes out of reach for the majority of trans people. There is no existing policy that would allow the government to require people to turn in “X” passports, for example. Katie Jenifer and her transgender daughter, Maddie, at the White House for a Pride Month celebration in June. If that were to happen, she could lose access to health care.

Persons: Ash Orr, Katie Jenifer, Belle, they’re, Donald Trump’s, Heron Greenesmith, ” Greenesmith, Trump, Greenesmith, ”, “, ” Trump, Sasha Buchert, ” Buchert, Stefani Reynolds, I’ve, ” Orr, he’s, Finn Franklin, ” Franklin, “ I’m, ” Finn Franklin, Finn Franklin Franklin, He’s, Maddie, Jenifer, Katie Jenifer Jenifer, ” Jenifer, Trevor, Orr, Bennett Kaspar, Williams, Aldita Gallardo, Gallardo, wasn’t, ” Gallardo, Dahlia Belle, she's, Belle “, ” Belle, it’s Organizations: NBC News, Transgender Law Center, ”, Medicare, State Department, Lambda Legal, Getty, Trans, “, Rogue Community College, Oregon Health & Science University Hospital, Oregon Health, OHSU, Trump, White, Holler Health, Transformation Fund, Emergent, Transformation, U.S, House, Transgender, Society Locations: Virginia, Carolina, Oregon, Massachusetts, U.S, Morgantown , West Virginia, West, “ West Virginia, Grants Pass , Oregon, Washington , Oregon, California, Portland, . North Carolina, West Virginia, Los Angeles, Oakland , California, Louisiana, Birmingham , Alabama, Jacksonville , Florida, Portland , Oregon

A resident walks at the site of a Russian missile strike in Dnipro, Ukraine, November 21. Mykola Synelnykov/ReutersRussia’s use of a nuclear-capable ballistic missile on Thursday is the latest escalation in the Ukraine war. The use of what Vladimir Putin said was a ballistic missile with multiple warheads in offensive combat is a clear departure from decades of the Cold War doctrine of deterrence. Ballistic missiles with multiple warheads, known as “multiple independently targeted reentry vehicles,” or MIRVs, have never been used to strike on an enemy, experts say. Ballistic missiles have been the underpinning of deterrence, offering what is known as “mutual assured destruction,” or MAD, in the nuclear age.

Persons: Mykola Synelnykov, Vladimir Putin, MIRV, ” Hans Kristensen, Kristensen Organizations: Reuters, West, Federation of American, Ballistic Locations: Russian, Dnipro, Ukraine, Ukrainian, Russia, Europe

☆ Analysis: Russia’s nuclear-capable missile is a clear departure from the Cold War doctrine of deterrence
▼ + stars: | 2024-11-22 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

CNN —Russia’s use of a nuclear-capable ballistic missile on Thursday is the latest escalation in the Ukraine war. The use of what Vladimir Putin said was a ballistic missile with multiple warheads in offensive combat is a clear departure from decades of the Cold War doctrine of deterrence. Ballistic missiles with multiple warheads, known as “multiple independently targeted reentry vehicles,” or MIRVs, have never been used to strike an enemy, experts say. Aftermath of Russian missile strike in Dnipro, Ukraine, on November 21, 2024. Pakistan reportedly tested a missile with multiple warheads in 2017, and earlier this year India said it had successfully tested a MIRVed ICBM.

Persons: Vladimir Putin, MIRV, ” Hans Kristensen, Kristensen, Matt Korda, ”, Manish Swarup, Korda, ” Kristensen Organizations: CNN, West, Federation of American, Russian, Ballistic, Federation of American Scientists, Union of Concerned Scientists, Center for Arms Control, AP Locations: Ukraine, Dnipro, That’s, US, Ukrainian, Russia, United States, Europe, China, United Kingdom, France, Pakistan, India, New Delhi, North Korea

☆ He spent years predicting Apple would launch a TV. The 'painful lesson' he learned when it didn't still applies today.
▼ + stars: | 2024-11-22 | by ( Jordan Hart | ) www.businessinsider.com time to read: +3 min

Munster, managing partner at Deepwater Asset Management, said he isn't holding his breath for an Apple TV. Munster said it's still a "painful topic" since he spent a lot of time looking into the Apple TV and was emphatic that it would happen. However, in 2014, another author, Yukari Iwatani Kane, wrote in "Haunted Empire: Apple After Steve Jobs" that Jobs told Apple employees in 2010 that a TV set wasn't happening. The lesson Munster learned about a company assembling a team and putting resources behind projects that may remain on the shelf continues to apply. Still, Munster's lesson didn't stop him from making a plea for CEO Tim Cook to bring the Apple TV to shelves.

Persons: Gene Munster, he's, Munster, Apple, it's, I'm, Walter Isaacson, Steve Jobs, Yukari Iwatani Kane, Jobs, Tim Cook Organizations: Apple, Bloomberg, Munster, Deepwater Asset Management, Apple TV

☆ Robert Pattinson joins Christopher Nolan’s next film at Universal
▼ + stars: | 2024-11-21 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Variety-Live-Blog-Byline-Image.Png | ) www.nbcnews.com time to read: +2 min

Robert Pattinson is re-teaming with his “Tenet” director Christopher Nolan for the filmmaker’s closely guarded project at Universal Pictures, Variety has confirmed. Pattinson joins an impressive ensemble that already includes Matt Damon, Tom Holland, Lupita Nyong’o, Anne Hathaway and Zendaya. Universal and Nolan’s follow-up to their Oscar-winning drama “Oppenheimer” is projecting a production start date sometime in the first half of 2025. Warner Bros. is looking to film a sequel to his 2022 blockbuster “The Batman,” in which the actor would reprise his leading turn as the DC Comics superhero. Universal has set a July 17, 2026 release date for the project, which will release in theaters and Imax.

Persons: Robert Pattinson, Tenet, Christopher Nolan, Pattinson, Matt Damon, Tom Holland, Lupita Nyong’o, Anne Hathaway, Zendaya, “ Oppenheimer, ”, Lance Oppenheim, Pattinson’s, Bong Joon, Mickey, “, John David Washington, “ Tenet, Nolan, J, Robert Oppenheimer’s Organizations: Universal Pictures, Variety, Universal, Warner Bros, DC Comics, Dunkirk, “

☆ Intercontinental ballistic missile: Ukraine has accused Russia of launching an intercontinental missile. Here’s what we know
▼ + stars: | 2024-11-21 | by ( Catherine Nicholls | ) edition.cnn.com time to read: +7 min

CNN —Ukraine’s military has accused Russia of firing an intercontinental ballistic missile (ICBM) into its territory for the first time, marking what would be another significant escalation in the 1,000-day-old war. Despite Kyiv’s accusation, two Western officials said that the missile launched by Russia was a ballistic missile, but not an ICBM. Ukraine’s air force accused Russia of launching an intercontinental ballistic missile at Dnipro at around 5 a.m. local time, from the Astrakhan region of southern Russia. Alexander Nemenov/AFP/Getty Images/FileWhat is an intercontinental ballistic missile? An intercontinental ballistic missile (ICBM) is a long-range weapon that is fired into space and then releases a warhead or warheads that reenter the atmosphere to drop on their targets.

Persons: CNN —, Heorhii Tykhyi, “, Volodymyr Zelensky, Vladimir Putin, ” Zelensky, Dmitry Peskov, Peskov, Joe Biden, Putin, Alexander Nemenov, Mykola Synelnykov, Serhiy Lysak Organizations: CNN, Ukraine’s Foreign Ministry, Russia’s Defense Ministry, Russia’s Defense, Victory Day, Getty, Center for Arms Control, Soviet Union, The, Patriot, Missile, Center for Strategic, International Studies, Congressional Research Service, Patriots Locations: Russia, Dnipro, Ukrainian, Ukraine, Astrakhan, Laos, British, Russian, Moscow, AFP, Soviet, States, Germany, Kyiv, Dnipropetrovsk, Donetsk

☆ A tech founder who lives an hour away from his wife and daughter shares how he overcomes the guilt of not being home
▼ + stars: | 2024-11-20 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

AdvertisementAlex Li lives in Dover, Delaware, which is 55 miles from where his wife and daughter reside. Spending time away from his family so that he could work on his startup has led to guilt and regret. As a 34-year-old founder, husband, and dad, Alex Li is away from his family more than he'd like to be. AdvertisementIf his wife needs a break, Li's daughter stays with him in Dover while his wife takes a vacation. "My daughter was incredibly excited since it had been years since we traveled together as a family," Li recalled.

Persons: Alex Li, Li, Li's, he'd, he's, He's, he'll, Jane Zhang Organizations: Universal Studios Singapore, Universal Locations: Dover , Delaware, Wilmington , Delaware, Dover, Wilmington, Spain

☆ Tech founder who spends half of each week away from his wife and daughter: "I often feel very sorry and guilty"
▼ + stars: | 2024-11-20 | by ( Robin Madell | ) www.businessinsider.com time to read: +7 min

AdvertisementAlex Li lives in Dover, Delaware, which is 55 miles from where his wife and daughter reside. As a 34-year-old founder, husband, and dad, Alex Li is away from his family more than he'd like to be. Related storiesMen should take on more family responsibilities, Li saidSome of Li's male friends didn't understand why he felt guilty. AdvertisementIf his wife needs a break, Li's daughter stays with him in Dover while his wife takes a vacation. "My daughter was incredibly excited since it had been years since we traveled together as a family," Li recalled.

☆ Leaked: Amazon held talks with Instacart, Uber, Ticketmaster, and others for help on its new AI-powered Alexa
▼ + stars: | 2024-11-18 | by ( Eugene Kim | ) www.businessinsider.com time to read: +4 min

The new Alexa aims to be a personalized assistant, handling diverse tasks across different devices. Amazon's AI-powered Alexa upgrade could launch with several major partners handling specific tasks such as ride-hailing, grocery shopping, and restaurant reservations, Business Insider has learned. The partner companies would become the primary option for handling those specific tasks on the upgraded Alexa. Amazon is revamping Alexa with ChatGPT-like AI features, BI first reported in January. Internally codenamed Banyan or Remarkable Alexa, the upgrade has the potential to significantly improve the voice assistant with AI features.

Persons: Uber, Spokespeople, Thumbtack, Andy Jassy, Jassy Organizations: Partners, Ticketmaster, BI, Amazon, Alexa, ChatGPT, Uber

☆ Dollar sitting pretty, yen bears wary of Bank of Japan hawks
▼ + stars: | 2024-11-18 | by ( ) www.cnbc.com time to read: +3 min

Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Markets imply around a 55% chance of a quarter-point rate hike to 0.5% when the BOJ meets on Dec. 19. Against a basket of currencies the dollar held at 106.730, having touched a one-year top of 107.07 on Friday. The rally has coincided with a savage swing in 10-year Treasury yields, which have climbed 70 basis points since the start of October, fuelling a 5.4% rise in the U.S. dollar index . Analysts generally assume Trump's touted policies of tariffs, reduced immigration and debt-funded tax cuts will be inflationary, so limiting the scope for further rate cuts by the Federal Reserve.

Persons: Kazuo Ueda, Ueda, Donald Trump's, Katsunobu Kato, Jonas Goltermann, Trump, Howard Lutnick, Cantor Fitzgerald, Scott Bessent Organizations: Bank of Japan, U.S, Japanese Finance, Capital Economics, Trump, Federal Reserve, Central Bankers Locations: U.S, Japan, Canada

☆ Weak shipbuilding could be the US Navy's Achilles' heel in a war with China
▼ + stars: | 2024-11-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +14 min

The US Navy faces critical shipbuilding problems that could hobble it in a war with China. China's commercial and military shipbuilding capacity overshadows the rest of the world. China has pursued shipbuilding dominance over the past few years, building a massive naval fleet. Long-term investments and solutions are needed to fix the US Navy's shipbuilding problems. US Navy photo by Mass Communication Specialist Seaman Erwinjacob Miciano/ReleasedThe US Navy's shipbuilding woes aren't new, and there simply isn't a quick fix.

Persons: Shelby Oakley, Oakley, Paula Zorensky, Gerald R, Petty, Alex Smedegard, Bryan Clark, who's, Mackenzie Eaglen, Seaman Wesley J, Bryan McGrath, Matthew Funaiole, McGrath, Seaman Erwinjacob Miciano, Lisa Franchetti, Franchetti, John Harris, Campbell Organizations: US Navy, US, Getty Images China, Newport News Daily Press, TNS, Navy, Huntington Ingalls Industries, General Dynamics, Marinette Marine Corporation, of, Pentagon, USS Enterprise, Getty Images Navy, Shipbuilders, GAO, Shelby, Norfolk Naval Shipyard Shipbuilders, Shipbuilders Council of America, Ford, Columbia, Hudson Institute, American Enterprise Institute, Communication, Jiangnan Shipyard, Shipyards, China State Shipbuilding Corporation, China Power, Center for Strategic, International Studies, People's Liberation Army, of Naval Intelligence, Technological, Department of Defense, Pacific . US Locations: China, US Navy, Virginia, Columbia, Shelby West, Jiangnan, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Taiwan, Pacific, Japan, South Korea

☆ Elon Musk is looking for trillions in government waste, and defense is a massive potential target
▼ + stars: | 2024-11-16 | by ( Jake Epstein | Grace Kay | ) www.businessinsider.com time to read: +10 min

President-elect Donald Trump has tapped Elon Musk to help spearhead cuts to government spending, and the defense sector could be a prime target. But Musk's past comments hint at one area he could target: defense contracts. Musk built SpaceX's business model around fixed-price contracts. Musk's new initiative could recommend exactly this: a move away from cost-plus contracts toward fixed-price contracts. An aerial view of the Pentagon AP Photo/Patrick Semansky, FileMusk's new initiative may target other areas of Pentagon spending, as well.

Persons: Donald Trump, Elon, Elon Musk, It's, Trump, Musk, Julia Demaree Nikhinson, Clayton Swope, Walter Isaacson's, Swope, John Raoux Overspending, Gerald R, Mike Gallagher, Gallagher, Ford, Steve Helber, Bryan McGrath, Todd Harrison, —, Harrison, Michael Bohnert, they've, Archer Macy, Patrick Semansky, John Harvey Jr, Mississippi Sen, Roger Wicker Organizations: Defense, Pentagon, Department of Government, SpaceX, NASA, AP, Center for Strategic, International Studies, Services, International Space, Kennedy Space Center, Littoral, Ford, DoD, Republican, Palantir Technologies, Newport News Shipbuilding, American Enterprise Institute, Shipbuilding, BAE Systems, RAND Corporation, CSIS, US Air Force, Navy, Senate Armed Services Committee Locations: Pennsylvania, Columbia, China, Wisconsin, Virginia, Mississippi

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