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For decades, American zoos have raised tens of millions of dollars from donors and sent the money to China for the right to host and display pandas. Under U.S. law, those funds were required to be spent protecting pandas in the wild. But the Chinese government instead spent millions on apartment buildings, roads, computers, museums and other expenses, records show. The U.S. government, on three occasions, froze payments to China over incomplete record keeping, documents show. But they worried that if Fish and Wildlife cut off the money altogether, China could demand the return of its bears.
Organizations: U.S, Regulators, U.S . Fish, Wildlife Service Locations: China, U.S
AdvertisementCanada's antitrust watchdog is suing Google. It's the latest in a series of legal challenges brought against the tech giant. Canada's antitrust watchdog is suing Google over its anti-competitive conduct in its adtech business, the country's Competition Bureau said Thursday. Related Video Apple's antitrust lawsuit is just one of its major battlesThe antitrust watchdog said Google is the largest provider of adtech services in Canada and has "abused" its position to maintain market dominance. This suit is the latest in a series of legal challenges against Google for alleged anti-competitive behavior.
Persons: Amit Mehta, Judge Mehta Organizations: Google, Department of Justice, of Locations: Canada, Eastern, of Virginia
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter told Reuters Wednesday. The investigation was approved by FTC Chair Lina Khan ahead of her likely departure in January. The FTC fielded such complaints last year as it examined the cloud computing market. The FTC has demanded a broad range of detailed information from Microsoft, Bloomberg reported earlier on Wednesday. In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win.
Persons: Lina Khan, Donald Trump, Satya Nadella, Trump, JD Vance Organizations: U.S . Federal Trade Commission, Microsoft, Reuters, NBC News, Republican, FTC, Amazon, Google, European Commission, Bloomberg, Big Tech, Facebook, Meta, Apple, Amazon.com Inc, U.S, Trump, Pentagon, Web Services
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
Elon Musk and Vivek Ramaswamy will visit Capitol Hill to discuss government reform with Republican congressional leaders Dec. 5, House Speaker Mike Johnson, R-La., announced Wednesday. Johnson said the entrepreneurs will "discuss major reform ideas to achieve regulatory rescissions, administrative reductions, and cost savings" with GOP lawmakers. President-elect Donald Trump has named Musk and Ramaswamy co-chairs of a new outside advisory commission they have dubbed the Department of Government Efficiency (DOGE). Next week's planned meeting is the latest indication that Republican leaders in Congress are taking Musk and Ramaswamy seriously. Yet even the best efforts of Republican leaders in Congress may not be enough to enact many of these ideas.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Mike Johnson, Johnson, Ramaswamy, Musk, Spokespeople Organizations: SpaceX, Capitol, Republican, GOP, Department of Government Efficiency, White, Office of Management, Congress, Corporation for Public Broadcasting, Consumer Financial Protection Bureau, Tesla Locations: Brownsville , Texas, U.S
— Thanks, Marek We do two things right off the bat after identifying a stock that we might want to buy. Remember, as an investor, you want to know every little aspect of every company whose stock you buy or think about buying. Financial statements In addition to understanding a company from a high level, we can't take a position before analyzing the financial statements and getting a sense of the health of the company in question. All three are incredibly important, however, of the three, the balance sheet is going to be the one to look at first. Knowing what shape the balance sheet is in gives you a better sense of the company's outlook.
Persons: Jim Cramer, Marek, that's, it's, Linde, Myers Squibb, Myers, Karuna, Jim Cramer's, Jim Organizations: Amazon, Linde, Myers, Karuna Therapeutics, Bristol, LIN, CNBC Locations: Bristol
Elon Musk, whose Starlink satellite constellation is the biggest, wields power in the new Trump administration. SpaceX's Starlink and other mega-constellations of satellites could damage the atmosphere in ways we don't yet understand, scientists say. About 100 scientists signed a letter in October asking the Federal Communications Commission, which regulates satellite launches in the US, to pause mega-constellations. A SpaceX Falcon 9 rocket carrying 56 Starlink internet satellites launches from Cape Canaveral, Florida. Without an environmental review, it's unclear what the impact of SpaceX's Starlink plans will be.
Persons: Elon Musk, Trump, SpaceX's Starlink, Putin, Elon, , Jonathan McDowell, Musk, Donald J, Brandon Bell, Paul Hennessy, Joseph Wang, Michelle Hanlon, there's, Starlink Organizations: SpaceX, Research, Federal Communications Commission, Harvard, Getty, Geophysical Research, University of Southern, National Environmental, FCC, NEPA, Center for Air, Space, University of Mississippi School of Law, Trump, of Government, Federal Aviation, California Coastal Commission Locations: Russia, Cape Canaveral , Florida, University of Southern California, Texas, California
Microsoft faces wide-ranging U.S. antitrust probe
  + stars: | 2024-11-27 | by ( ) www.cnbc.com   time to read: +3 min
The U.S. Federal Trade Commission has opened a broad antitrust investigation into Microsoft , including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday. The probe was approved by FTC Chair Lina Khan ahead of her likely departure in January. The FTC fielded complaints about Microsoft last year as it examined the cloud computing market. Until now, Microsoft has been somewhat of an exception to U.S. antitrust regulators' recent campaign against allegedly anticompetitive practices at Big Tech companies. In 2019, the Pentagon awarded it a $10 billion cloud computing contract that Amazon had widely been expected to win.
Persons: Lina Khan, Donald Trump, Satya Nadella, Trump, JD Vance Organizations: U.S . Federal Trade Commission, Microsoft, Republican, FTC, Amazon, Google, Bloomberg, Big Tech, Facebook, Meta, Apple, Amazon.com Inc, U.S, Trump, Pentagon, Web Services
Google proposes fresh tweaks to search results in Europe
  + stars: | 2024-11-26 | by ( ) www.cnbc.com   time to read: +2 min
Google has proposed more changes to its search results in Europe after some smaller rivals complained about lower traffic to their sites resulting from previous tweaks by the Alphabet unit and as EU antitrust regulators consider levying charges against the company under new EU tech rules. Under the Digital Markets Act, Google is prohibited from favouring its products and services on its platform. The latter three groups said their direct booking clicks have fallen by 30% due to recent Google changes. "We think the latest proposal is the right way to balance the difficult trade-offs that the DMA involves," Bethell said. "We're very reluctant to take this step, as removing helpful features does not benefit consumers or businesses in Europe," Bethell said.
Persons: Oliver Bethell, Bethell, We're, crosshairs Organizations: Google, Digital Markets, Big Tech Locations: Europe, Germany, Belgium, Estonia
Eli Lilly shares soared Tuesday on a one-two punch of good news. The second positive development for Eli Lilly comes from Amgen , which reported mid-stage trial results for its experimental obesity treatment known as MariTide. Big picture The prospect of across-the-board coverage of obesity drugs for Medicare and Medicaid enrollees would be a financial win for Eli Lilly, particularly on the Medicare front. For its part, Eli Lilly has said regulators could expand Zepbound's label to cover obstructive sleep apnea by year-end. An Eli Lilly & Co. Zepbound injection pen arranged in the Brooklyn borough of New York, US, on Thursday, March 28, 2024.
Persons: Eli Lilly, Jim Cramer, Biden, Lilly, didn't, Wegovy, Zepbound, Biden administration's, Donald Trump, Wells, Robert F, Kennedy Jr, Trump, Kennedy —, Kennedy, Novo, Leerink, Eli Lilly's tirzepatide, Piper Sandler, tirzepatide, Piper, Jim, Amgen's, retatrutide, Jim Cramer's, Shelby Knowles Organizations: Novo Nordisk, Medicaid, NBC News, White, Medicare, Centers, Services, STOP, Alliance, Wells Fargo, of Health, Human Services, Food and Drug Administration, Senate, Biden, Club, CNBC, Bloomberg, Getty Locations: New York, Texas, Amgen, Lilly, Brooklyn
Social media and other platforms have helped make information on financial literacy, investing and trading more accessible than ever. But others are sharing advice that regulators say can be misleading. But sorting through the helpful from the deceptive can be a challenging task, especially when it comes to the vast landscape of social media. Financial regulators have warned people to be wary of advice from so-called fin-fluencers. I’d like to hear from people who have lost money after following financial advice from someone online, whether that’s investing in a risky asset, signing up for a service or something else.
Persons: I’m, I’ve Organizations: New York Times
What’s Going on With All of These Food Recalls?
  + stars: | 2024-11-25 | by ( Emily Schmall | ) www.nytimes.com   time to read: +1 min
There has been a barrage of bad news about food lately. Ten people died after eating Boar’s Head deli meat in a listeria outbreak that hospitalized dozens of others. This month, there has been a food recall nearly every day. But a closer examination of data on foodborne illnesses and food recalls shows a more complicated picture. “I won’t say the food supply is getting less safe, but it’s not getting safer either,” said Donald Schaffner, a professor of food science at Rutgers University.
Persons: Robert F, Kennedy Jr, Donald J, it’s, , Donald Schaffner Organizations: Rutgers University
CNN —Vaping has an immediate effect on how well the user’s blood vessels work, even if the e-cigarette doesn’t contain nicotine, according to new research. But scientists say these results may mean that vaping regularly could lead to vascular disease down the road. “Even if there was no nicotine in the e-cigarette, there could be other components that may be harmful,” Nabbout said. Compared with the nonsmokers and cigarette smokers, the people who used vapes with nicotine had the most significant reduction in vascular function. If vaping is significantly affecting someone’s vascular health, e-cigarette users could then see increased heart attacks, strokes or blood flow issues, Rizzo said.
Persons: CNN — Vaping, Chicago –, , Marianne Nabbout, ” Nabbout, Nabbout, Albert Rizzo, Rizzo, Dr, Sanjay Gupta, , ” Rizzo Organizations: CNN, Radiological Society of North, University of Arkansas, Medical Sciences, University of Pennsylvania, US Food and Drug Administration, FDA, American Lung Association, CNN Health, Research, Lung Association Locations: Radiological Society of North America, Chicago, Little Rock, United States
A man walks past the People's Bank of China (PBOC) building on July 20, 2023 in Beijing, China. The People's Bank of China kept the medium-term lending facility rate unchanged at 2.0% on 900 billion yuan ($124.26 billion) worth of one-year loans to some financial institutions, according to the bank's official statement. Keeping the MLF rate intact allows for "greater policy maneuverability" given the change in U.S. administration, at a time when commercial banks' net-interest-margins have remained tight, Pang added. "A delayed reduction in the [MLF] lending rates" would also bolster the yuan against the stronger greenback, JLL's Pang added. Unlike the Fed's focus on a main interest rate, the PBOC uses a variety of rates to manage monetary policy.
Persons: Jiang Qiming, Donald Trump's, Bruce Pang, PBOC's, Pang, Wang Tao, Zhiwei Zhang, JLL's Pang, Gary Ng, PBOC, Pan Gongsheng Organizations: People's Bank of China, China News Service, Getty Images China, U.S, Research, UBS Investment Bank, Beijing Locations: Beijing, China, Greater China, JLL
Bernie Moreno, Republican U.S. Senate candidate from Ohio, attends a campaign event in Holland, Ohio, on Saturday, October 26, 2024. In total, crypto-related PACs and other groups tied to the industry reeled in over $245 million, according to Federal Election Commission data. Crypto accounted for nearly half of all corporate dollars that flowed into the election, according to nonprofit watchdog Public Citizen. It was one of the top spending committees of any industry this cycle and exclusively gave to pro-crypto candidates running for Congress. "Welcome to America's most pro-crypto Congress ever," Armstrong wrote on X on Nov. 5.
Persons: Bernie Moreno, Moreno, Sen, Sherrod Brown, Tom Williams, Donald Trump, Coinbase, Crypto, Marc Andreessen, Ben Horowitz, David Sacks, " Moreno, Brian Armstrong, Fred Ehrsam, Faryar Shirzad, Armstrong, Ehrsam, Coinbase's Armstrong, Gary Gensler, Brown, Elizabeth Warren, FTX, Fairshake, gunning, Republican Jim Justice, Democratic Sen, Joe Manchin, Katie Porter, Porter, he'd, Horowitz, Sacks, Coinbase's Shirzad, Moreno wasn't, Shirzad, David McIntosh, McIntosh, hasn't, JD Vance's, Sam Bankman, Gensler, Andreessen Horowitz, Cameron, Tyler Winklevoss, Ripple, Chris Larsen, JD Vance, Paul Grewal, Jesse Powell, Trump, Phil Potter, Multicoin Capital's Kyle Samani, Fred Wilson, Charles Cascarilla, Mike Belshe, Solana, Anatoly Yakovenko, Wences Casares Organizations: Republican U.S, Cq, Inc, Getty, Democratic, Banking Committee, Public Citizen, Crypto, House, Securities and Exchange Commission, SEC, Senate, Committee, Republicans, Protect, Fairshake, Defend, Jobs, Republican, New, CNBC, Andreessen, Craft Ventures, Club for Growth, Growth, Politico, PAC, Labs, Senate Inc, Trump, Union Square Ventures, Xapo Bank Locations: Republican, Ohio, Holland , Ohio, Cleveland, Coinbase, U.S, Arizona, Michigan, West Virginia, California, Washington, FTX, Nashville , Tennessee
The results of the study, published Thursday in the journal Science, surprised whale researchers because they suggest the creatures can hear at much higher frequencies than expected. Scientists had never captured baleen whales and tested their hearing before because the animals are so large it could be dangerous to both the whales and researchers. Scientists know, from recordings and other observations, that baleen whales rely on hearing for social communication and that it’s important to their survival. Minke whales were a good target for audio testing because they’re the smallest baleen whale and a species whose hearing scientists don’t understand very well. He said the Minke Whale Hearing Project is on hold, but he’d like to pursue the topic further if he could secure funding.
Persons: , Dorian Houser, , Susan Parks, , that’s, ” Houser, ” Parks, Houser, Regina Asmutis, Silvia, ” Asmutis, Asmutis, Brandon Southall, ” Southall, Southall Organizations: Marine Mammal Foundation, Mammal, Syracuse University, Conservation, Locations: Norway, New York, Norwegian, Lofoten, North America
WASHINGTON — The Supreme Court could further weaken the power of federal agencies by agreeing on Friday to hear a dispute over a Federal Communications Commission program that requires companies to subsidize telecommunications services in underserved areas. The FCC case raises two interlinked issues, one of which concerns the broad question of whether Congress exceeded its powers. The FCC turned to the Supreme Court after the New Orleans-based 5th U.S. The Supreme Court earlier this year issued a series of rulings against federal agencies, including one overturning a 40-year-old precedent that gave leeway to agencies to interpret laws written ambiguously. Three of them serve on the Supreme Court.
Persons: WASHINGTON —, Andrew Oldham, Donald Trump's Organizations: Federal Communications Commission, FCC, Consumers, Research, Universal Service Fund, Universal Service Administrative Company, New, Circuit, Conservative, Oldham, Trump Locations: New Orleans
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets digest Nvidia earningsU.S. markets rose on Thursday after digesting Nvidia's earnings release. [PRO] Stimulus boosting Chinese marketsChinese markets are "turning a corner" after the Beijing unleashed several stimulus measures to boost the economy, said HSBC . "The market has so far reacted positively to these initiatives,' analysts from HSBC wrote in a Nov. 19 note, in which they picked two Chinese stocks to hold for 2025.
Persons: Hong, Aftereffects, Gautam Adani, CNBC's Ganesh Rao Organizations: CNBC, U.S . Department of Justice, Google, Chrome, Nikkei, Bank of Japan, Reuters, Adani, Motors, Germany's Volkswagen, Nissan, HSBC Locations: Asia, Pacific, Japan, U.S, India, China, Beijing
While Anthropic and OpenAI continue to raise significant sums, some smaller companies have essentially been folded into Google and Microsoft. U.S. regulators are also scrutinizing the multibillion-dollar investments that Microsoft, Amazon and Google are putting into A.I. But the deals are seen as allowing the big companies to form deep ties with their smaller rivals while avoiding most government scrutiny. Like OpenAI, Anthropic is a developer of so-called generative A.I., the technology capable of learning from vast amounts of data to create humanlike text and images. Anthropic has tried to position itself as one of the more responsible actors in the field of A.I.
Persons: OpenAI, Anthropic’s Claude, Anthropic Organizations: Google, Microsoft, The New York Times, The Times Locations: U.S
ATLANTIC CITY, N.J. (AP) — Atlantic City's casinos saw their operating profits decline by nearly 14% in the third quarter of this year, figures released Friday by New Jersey gambling regulators show. The state Division of Gaming Enforcement issued statistics showing that the nine casinos had a collective gross operating profit of $236.5 million in the third quarter. “Consumer demand may have been an issue for Atlantic City’s casino operators in summer 2024,” said Jane Bokunewicz, director of the Lloyd Levenson Institute at Stockton University, which studies the Atlantic City gambling industry. Revenue from things other than gambling also underperformed in the third quarter at $511.6 million, down 5% from a year earlier. Among internet-only entities, Caesars Interactive NJ earned $4.8 million, down 7.8%, and Resorts Digital, the former online arm of Resorts casino, earned $1.5 million, down 4.8%.
Persons: , Jane Bokunewicz, Lloyd Levenson, James Plousis, ” Gross, Harrah's, Bally's, Wayne Parry Organizations: CITY, of Gaming, bettors, Atlantic, Stockton University, New Jersey Casino Control, Ocean, Tropicana, Caesars, Golden, Resorts, Caesars Interactive, Resorts Digital, Associated Press Locations: N.J, New Jersey, Atlantic City
AdvertisementThe FAA is reviewing an issue with the Boeing 737 Max's engine. Boeing could face further delays to new jets as regulators examine an engine issue. It comes after two incidents on Southwest Airlines Boeing 737 Max jets last year. On Thursday, the Federal Aviation Administration announced it was convening a review board to address an issue with the CFM LEAP-1B engine that powers the Boeing 737 Max. Coming up with that could further delay the certification of its 737 Max 7 and 737 Max 10 jets — the shortest and longest versions of Boeing's newest narrow-body plane.
Persons: Max, Pete Syme, Scott Kirby Organizations: Boeing, Seattle Times, Southwest Airlines Boeing, Max, Federal Aviation Administration, CFM, FAA, Air, Business, Alaska Airlines, Boeing's, United Airlines Locations: Cuba
The words “private equity” are almost poetic in their power to obfuscate in such a way that most people simply tune out when they hear them. But there’s a reason workers tend to have a negative association with private equity. Per Bloomberg, Apollo “built its name as the scrappiest private equity and distressed-debt investor on Wall Street by buying businesses and loading them up with debt that offered creditors meager protections in the face of default.”Historically, private equity deals were largely handled by big banks. Private equity firms now hold controlling stakes across an array of industries, including supermarkets, housing, health care, fashion, restaurants and vet clinics. And other efforts to force more transparency and accountability in private equity have similarly faced opposition.
Persons: CNN Business ’, Marc Rowan, Donald Trump’s, Rowan, Bill Lazonick, he’s, , Megan Greenwell, aren’t, ” Dennis Kelleher, Apollo “, it’s, Sen, Elizabeth Warren of, hadn’t, Scott Bessent, Kevin Warsh, , ” Greenwell Organizations: CNN Business, New York CNN, Apollo Global Management, Treasury, OCC, Republicans, Industry Research Network, — Bloomberg, KKR, Blackstone, Carlyle Group, Securities and Exchange Commission, , Research, Treasury Department, Bloomberg, Financial Times, Federal Reserve Locations: New York, , Elizabeth Warren of Massachusetts
It is very unusual for Chinese businesspeople to take public aim at the government and those who have done so have often faced repercussions. In particular, Pinduoduo’s pricing system has done great harm to China’s brands and its industries,” he was quoted as saying by state-owned media outlet The Paper. In further remarks from the same press conference that were not widely reported by state media, Zhong singled out the Chinese government for not doing more to stop the trend. CNN has reached out to Nongfu Springs and PDD (PDD) for comment. A worker prepares to transfer packages after sorting at a warehouse for an e-commerce company in Beijing on November 11, 2024.
Persons: Hong Kong CNN —, Zhong Shanshan, Zhong, Pinduoduo, Alibaba, Jack Ma, Ma, Colin Huang, Wang Zhao, Zhong’s, Huang Organizations: Hong Kong CNN, PDD Holdings, Sina Technology, CNN, Ant Group, Alibaba, Getty, Bloomberg Locations: China, Hong Kong, Beijing, AFP
Morris, like thousands of other customers, was snared in the collapse of a behind-the-scenes fintech firm called Synapse and has been locked out of her account for six months as of November. Then she learned how much Evolve Bank & Trust, the lender where her funds were supposed to be held, was prepared to return to her. The crisis started in May when a dispute between Synapse and Evolve Bank over customer balances boiled over and the fintech middleman turned off access to a key system used to process transactions. Synapse helped fintech startups like Yotta and Juno, which are not banks, offer checking accounts and debit cards by hooking them up with small lenders like Evolve. But that would've required more coordination between Evolve and the other lenders that held customer funds than what ultimately happened.
Persons: Oscar Wong, Kayla Morris, Morris, Andreessen Horowitz, Jelena McWilliams, Zach Jacobs, there's, Yotta, Adam Moelis, they've, Jacobs, Andrew Meloan, Meloan, I've, ” Zach Jacobs, McWilliams, McWilliams didn't, Rayburn, Tom Williams, hadn't, Judge Martin Barash, Natasha Craft, they're, Andreatte Caliguire Organizations: Evolve Bank & Trust, Synapse, Evolve Bank, ., CNBC, FedEx, Evolve, Deposit Insurance Corp, U.S, FDIC, Trump, Federal Reserve, Federal Deposit Insurance Corporation, Financial, Prudential Regulators, Megabanks, Depository, CQ, Inc, AMG, Lineage Bank, American Bank, Indiana FedEx Locations: Texas, Tampa , Florida, Yotta, Chicago, California, Mishawaka , Indiana
What Elon Musk Needs From China
  + stars: | 2024-11-22 | by ( Keith Bradsher | ) www.nytimes.com   time to read: +1 min
No American business leader has more visibly and lavishly supported President-elect Donald J. Trump than Elon Musk — and few if any have a more complex relationship with China, a country that Mr. Trump has vowed to confront with higher tariffs and other measures. Mr. Musk has a lot on the line. Tesla sells more cars in China than anywhere except the United States, and his local competition is getting stronger. Mr. Musk has personally appealed to China’s premier, Li Qiang, for permission to proceed with what Tesla calls Full Self-Driving as the company’s market share in China has dwindled. Some experts have suggested that Beijing may be able to turn Mr. Musk into an influential ally in trying to persuade Mr. Trump to take a more conciliatory approach on trade.
Persons: Donald J, Trump, Elon Musk, Musk, Tesla, Li Qiang Organizations: Elon, Mr Locations: China, United States, Beijing
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