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☆ Tampa mayor warns residents they will 'die' if they don't evacuate, as Hurricane Milton approaches Florida
▼ + stars: | 2024-10-08 | by ( Jack Sommers | ) www.businessinsider.com time to read: +3 min

The mayor of Tampa, Florida, told residents they will "die" if they don't evacuate as Hurricane Milton approaches. AdvertisementThe mayor of Tampa, Florida, has issued a stark warning that anyone who remains in the city as Hurricane Milton approaches will "die." Hurricane Milton intensified into a Category 5 storm — the most severe classification — in the Gulf of Mexico on Monday. The storm comes just two weeks after Hurricane Helene, the damage from which is already stretching the Federal Emergency Management Agency. Hurricane Helene killed 12 people in the Tampa Bay area, the Associated Press reported, and over 200 more across the southeastern United States.

Persons: Milton, Jane Castor, —, Hurricane Milton, There's, Helene, Castor, Hurricane Helene, Ron DeSantis Organizations: Service, CNN, Carolinas, National Hurricane Center, Federal Emergency Management Agency, Associated Press, Republican Locations: Tampa , Florida, Hurricane, Gulf of Mexico, Florida, Florida , Georgia, Tampa, United States, Milton

☆ What the Eric Adams indictment means for New York City's leadership and future
▼ + stars: | 2024-09-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In today's big story, the walls are closing in on New York City Mayor Eric Adams after a federal indictment . New York City Mayor Eric Adams was indicted on five criminal counts in a corruption probe accusing him of bribery and receiving illegal campaign contributions from foreign nationals. In one case, according to the indictment, that meant a Turkish Airlines manager offering to charge Adams $50 for two business-class seats worth $15,000 . AdvertisementMessages obtained by prosecutors also show Adams promising his staffer he "always" deleted texts following a discussion of alleged Turkish bribes.

Persons: —, Eric Adams, Eric Adams Seth Wenig, Alyssa Powell, Adams, Damian Williams, Gary Hershorn, He's, Alex Spiro, Elon Musk's, Kathy Hochul, Jumaane Williams, Ali Jarekji, it's, David Tepper, Sam Altman's, Getty, Olivier Verriest, Andrei Akushevich, Tyler Le, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Nathan Rennolds, Amanda Yen, Milan Sehmbi Organizations: Business, Service, New York City, New, Democrat, Brooklyn Borough, Southern, of, Turkish Airlines, FDNY, Reuters, Financial Times, YouTube, Snapchat, Publishers, York Film Locations: New, States, New York, Manhattan, of New York, Turkish, Ali, Saudi Arabia, China, London

☆ Things are looking up for the economy. So why are consumers still unhappy?
▼ + stars: | 2024-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, the economy is heading in the right direction, but consumers aren't buying it . Things seem to be going really well for the economy, right? Consumers aren't feeling bullish about the economy these days. Last time around, pesky inflation was keeping things like groceries and housing costs high, even as the rest of the economy showed improvement. China's stimulus plan to boost its ailing economy sent emerging markets indexes to their highest level since April 2022 .

Persons: —, Rebecca Zisser, We've, Insider's Juliana Kaplan, Spencer Platt, Getty, Tyler Le, We'll, Morgan, Mike Wilson, Steven Blitz, China's, aren't, Chelsea Jia Feng, weren't, Natalie Ammari, that's, Ron Sherman, Gen, Mark Zuckerberg, Dan DeFrancesco, Jack Sommers, Jordan Parker Erb, Amanda Yen Organizations: Service, Business, Federal Reserve, Conference Board, Fed, Chelsea, Spotify, Visa, US Justice Department, Prosecutors, Meta Locations: Austin , Texas, New York, London

☆ Confused about the potential Qualcomm-Intel deal? Here's why it matters even if it doesn't happen.
▼ + stars: | 2024-09-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In today's big story, why you should care about a potential Intel-Qualcomm deal , even if it might not work. Getting all that varied experience has proved particularly beneficial for TSMC in the age of cutting-edge mobile and AI chips. The US needs Intel to keep (and get better at) manufacturing chips. The problem with that is that this manufacturing business would have almost no customers, and would fall even further behind TSMC. Experts seem incredibly skeptical about a Qualcomm deal going through.

Persons: —, Jamie Dimon, Moneyball, Rupert Murdoch's, Chelsea Jia Feng, I'm, it's, Palantir alums, Jamie Dimon Tom Williams, he's, Goldman Sachs, Chelsea JIa Feng, ChatGPT, Vinod Khosla, Chris Gash, Lachlan Murdoch, Murdoch, Lachlan's, Caroline Ellison, Biden, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Milan Sehmbi, Amanda Yen Organizations: Service, Intel, Qualcomm, Business, Tech, Getty, TSMC, Inc, JPMorgan, Bank of America, Big Tech, Web Services, Employees, Bloomberg Global Business Forum, FAA, OPEC, Oil Locations: Taiwan, China, San Francisco, Nevada, New York, London

☆ China's worsening relationship with US businesses could put AI's chip supply on shaky ground
▼ + stars: | 2024-09-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, China isn't proving to be the economic promised land US companies once hoped for . US-China relations have been on shaky ground for a while, to put it mildly. But despite the growing animosity, US corporations' push to sell things to Chinese consumers has been a middle ground everyone can agree on. AdvertisementTaiwan Semiconductor Manufacturing Company makes vital hardware components for most the world's chip companies, including industry giant Nvidia. Nvidia CEO Jensen Huang recently said his company has a backup plan if things were to kick off in Taiwan .

Persons: —, Jamie Dimon, Tyler Le, Insider's Linette Lopez, It's, that's, Kiran Ridley, Stringer, Getty, Jensen Huang, Huang, Alyssa Powell, Trump, Harris, isn't, Howard Marks, Marks, Rebecca Noble, Vance, Tom Brady, Jeff Bezos, it's, Ryan Routh, Donald Trump, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Amanda Yen, Grace Lett, Milan Sehmbi Organizations: Service, Business, China Xinhua News Agency, Getty, Apple, Nike, Huawei, Taiwan Semiconductor Manufacturing Company, Nvidia, Billionaire, Economic Forum Locations: Washington ,, China, China . US, Washington, Beijing, Taiwan, USA, Florida, New York, London, Chicago

☆ Professor discusses Trump assassination attempt
▼ + stars: | 2024-07-15 | 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 EmailTrump assassination attempt: 'All too common' to see this kind of violence in U.S., professor saysJeffrey Sommers, professor at the University of Wisconsin-Milwaukee, discusses the aftermath of the assassination attempt on former U.S. President Donald Trump.

Persons: Trump, Jeffrey Sommers, Donald Trump Organizations: University of Wisconsin - Locations: University of Wisconsin - Milwaukee

☆ The shock from the Trump assassination attempt has turned to scrutiny of the Secret Service
▼ + stars: | 2024-07-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The US is still coming to grips with the assassination attempt on former President Donald Trump. In today's big story, we examine the scrutiny the Secret Service is facing and what former special agents are saying about the tragedy . But that's not to say the Secret Service has avoided controversy over the last 40-plus years since the Reagan shooting. Secret Service agents converge on former President Donald Trump onstage at his Pennsylvania campaign rally. AdvertisementUltimately, another former Secret Service agent said the entire event represents a failure for Trump's security detail , BI's Matthew Loh and Cameron Manley report.

Persons: —, Donald Trump, Jenny Chang, Rodriguez, Joe Biden, Insider's Brent D, Griffiths, Katherine Tangalakis, Lauren Edmonds, Saturday, Ronald Reagan, that's, Reagan, Brent, Jabin, Thomas Matthew Crooks, BI's Rebecca Rommen, Crooks, BI's Laura Italiano, Kenneth Niemeyer, Matthew Loh, Cameron Manley, Trump, Corey Comperatore, Kirill Kudryavtsev, Yuriy Gorodnichenko, Goldman Sachs, Michael M, Tyler Le, Jensen Huang, Elon Musk, Sam Altman's, Altman, Rebecca Zisser, Mickey Mouse, Hannah Montana, David, Nvidia's Goliath, Dan DeFrancesco, Jordan Parker Erb, Lisa Ryan, Jack Sommers, Annie Smith, Amanda Yen Organizations: Service, Business, Secret Service, Washington, Getty, FBI, UC Berkeley, NDR, Nvidia, Elon, European, Swedish, Disney, YouTube, GOP, Convention Locations: Colombia, Pennsylvania, Trump, Russia, New York, London

☆ Alec Baldwin 'Rust' manslaughter case dismissed by judge
▼ + stars: | 2024-07-12 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

US actor Alec Baldwin participates in a pretrial hearing in Santa Fe, New Mexico, on July 8, 2024. A New Mexico judge on Friday dismissed the criminal involuntary manslaughter case against Alec Baldwin on the third day of the actor's trial, after ruling that prosecutors kept evidence about ammunition related to the case secret from defense lawyers. Judge Mary Marlowe Sommer tossed the case against Baldwin, which related to the October 2021 accidental shooting death of cinematographer Halyna Hutchins on the set of his movie "Rust," with prejudice. Baldwin wept as the decision was announced, on what was the third day of trial in the case in state court in Santa Fe. "There is no way for the court to right this wrong," Sommers said, referring to the prosecution's actions.

Persons: Alec Baldwin, Judge Mary Marlowe Sommer, Baldwin, Halyna Hutchins, Hilaria, Sommers Locations: Santa Fe , New Mexico, Mexico, Santa Fe

☆ School's out, and parents' financial stress is in
▼ + stars: | 2024-07-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Speaking of money and vacations: In today's big story, summer vacation means financial stress for parents looking to keep their kids busy while school is out without breaking the bank . The big storyThe cost of summeriStock; Rebecca Zisser/BISchool's out for summer, but the relief for kids is causing financial pain for their parents. Further complicating things is most camps don't cover the two-plus months parents need to fill for their kids. The result is sometimes a patchwork system of camps and part-time nannies that parents need to cobble together. AdvertisementThis year, skincare products proved to be a lightning rod for kids and parents at elite summer camps , writes BI's Anna Silman.

Persons: —, Rebecca Zisser, Juliana Kaplan, Madison Hoff, Kate Dehler, BI's Anna Silman, Anna, You've, Goldman Sachs, it's, Alyssa Powell, Gen, Vladimir Putin, Narendra Modi, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, Annie Smith, Grace Lett, Amanda Yen Organizations: Service, Business, Karma, Hindenburg Research, Adani, Bank of, Samsung, Indian, The Locations: What's, Al, Florida, Russian, New York, London, Chicago

☆ We're on track for a soft economic landing, but it still feels like the economy stinks
▼ + stars: | 2024-06-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why the US economy is on track (again) for a soft economic landing . The big storyAnother economic turnaroundGetty Images; Chelsea Jia Feng/BIIt took longer than expected, but the US economy is finally on track for a soft landing. After a scary few months of economic data that had investors fearing a recession and stagflation, the tides have turned again. AdvertisementRecent data showing inflation and the labor market cooling have given hope that a soft landing is in the cards — and may even be underway — for the US economy, writes Business Insider's Madison Hoff. AdvertisementThe US economy is about to make a soft landing — a situation in which inflation cools without causing a recession or sudden spike in unemployment.

Persons: —, Chelsea Jia Feng, Insider's Madison Hoff, Arantza Pena Popo, bummed, it's, aren't, Johannes Eisele, Monica Schipper, Nordin Catic, Tyler Le Tim Cook, Cook, Jack Dorsey, Dorsey, Abanti Chowdhury, Sam Altman's, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, shoplifters, Business, Fed, Johannes, Getty, OpenAI, Apple, BI, Street Journal, Comcast, New York Stock Exchange Locations: AFP, New York, London

☆ OpenAI is facing controversy. Again.
▼ + stars: | 2024-06-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the latest controversy to embroil OpenAI amid a difficult few months for the startup . Their takeaway was simple: OpenAI wants to have it both ways regarding how it's perceived about safety and commercialization. It's structured as a "capped-profit" company governed by a nonprofit, and Altman doesn't hold equity directly in OpenAI. The result, the VC told me, is people feel OpenAI is talking out of both sides of its mouth. It doesn't help that some OpenAI employees joined when that split was closer to 80/20 and favored safety over business, they added.

Persons: —, we've, OpenAI Justin Sullivan, Chelsea Jia Feng, Anthropic signees, Scarlett Johansson, Elon, Madeline Berg, Sam Altman, Altman, Justin Sullivan, OpenAI, It's, Patrick McMullan, Jenny Chang, Rodriguez, Izzy Englander's, Griffin's, Marko Kolanovic, ANDREW CABALLERO, REYNOLDS, youngs, Mark Zuckerberg, Elon Musk, Keith Enright, Alyssa Powell, They've, Shopify, Dan DeFrancesco, Jordan Parker Erb, Jack Sommers, George Glover, Annie Smith Organizations: Service, Business, Google, Millennium Management, Getty Images, Facebook, CNBC, BI, SpaceX Locations: OpenAI, Patrick, It's, Tesla, New York, London

☆ Your energy costs could become a lot more unpredictable
▼ + stars: | 2024-02-01 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

For more than a decade, Americans could rely on cheap natural-gas prices to heat their homes and power businesses. Prices shot up exponentially, and homeowners, renters, and businesses are still seeing the ripple effects on their utility bills — even though natural-gas prices have since fallen. Just six years later, the US surpassed Qatar to become the world's leading exporter of natural gas. Slocum added that natural-gas exports put upward pressure on prices, citing recent reports by the US Energy Information Administration and the Federal Energy Regulatory Commission . The higher costs between 2021 and late 2023 are due to the energy crisis in Europe and "cannot explicitly be linked" with greater US gas exports, the spokesperson said.

Persons: Joe Biden, Tyson Slocum, Goldman Sachs, Slocum, Mike Sommers Organizations: Service, Business, LNG, US Energy Information Administration, Federal Energy Regulatory, American Petroleum Institute, CNBC, Energy, Consumer Locations: Russia, Ukraine, Europe, Texas, New Mexico, Qatar

☆ LNG export pause 'will push investments away from U.S.', says American Petroleum Institute CEO
▼ + stars: | 2024-01-29 | 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 EmailLNG export pause 'will push investments away from U.S.', says American Petroleum Institute CEOMike Sommers, American Petroleum Institute president and CEO, joins 'Squawk Box' to discuss the Biden administration's decision to pause LNG export approvals, the impact on the energy market and U.S. allies, America's energy security, and more.

Persons: Mike Sommers Organizations: American Petroleum, American Petroleum Institute, Biden Locations: U.S

WASHINGTON (AP) — The Biden administration is delaying consideration of new natural gas export terminals in the United States, even as gas shipments to Europe and Asia have soared since Russia’s invasion of Ukraine. A proposed LNG export terminal in Louisiana would produce about 20 times the greenhouse gas emissions of Willow, McKibben noted. “We need to have an even greater understanding of the (global energy) market need, the long-term supply and demand of energy resources and the environmental factors,'' she said. Symons called the gas project "bad for our nation, bad for our health and bad for our economy.'' "The true irony is this policy would hurt the climate and lead to increased (greenhouse gas) emissions, as it would force the world to pivot to coal'' instead of natural gas, Hynes said.

Persons: —, Biden, Joe Biden, “, MAGA, Donald Trump, Bill McKibben, it’s, McKibben, Jennifer Granholm, Granholm, Vladimir Putin, Mike Sommers, Sommers, ”, ‘ ’ Granholm, we’re, Jeremy Symons, Symons, Shaylyn Hynes, Hynes, Trump Organizations: WASHINGTON, Democratic, Energy Department, Industry, Russia, Energy, American Petroleum Institute, U.S . LNG, Environmental Protection Agency, Venture, LNG Locations: United States, Europe, Asia, Ukraine, Alaska, Paris, Louisiana, U.S, Calcasieu, Gulf, Cameron Parish, Virginia

Why did Biden delay consideration of LNG export terminals? Biden's action would not affect those projects, but could delay a dozen or more LNG projects that are pending or in various stages of planning. A public comment period after that will likely delay any decisions on pending LNG projects until after the November election. Environmentalists hailed Biden's decision, saying LNG exports not only pollute communities and add to the climate crisis but also raise energy prices for U.S. families and businesses. A single proposed LNG export terminal in Louisiana would produce about 20 times the greenhouse gas emissions of Willow, activists say.

Persons: —, Biden, Joe Biden, ”, Vladimir Putin, Ali Zaidi, Jennifer Granholm, ″ Zaidi, Granholm, Biden's, Abigail Dillen, Sen, Ed Markey, Mike Sommers, Mitch McConnell, Israel's, “, “ Biden, ″, Bill McKibben, Donald Trump, Karoline Leavitt Organizations: WASHINGTON, Democratic, Industry, Republicans, Russia, U.S, Energy Department, Energy, Seven, American Petroleum Institute, U.S . LNG, GOP Locations: United States, Europe, Asia, Ukraine, Alaska, U.S, Russia, Louisiana, Texas, Calcasieu, Coast, Kentucky, Gaza, Willow

Millennials are turning to more creative and affordable ways of getting on the property ladder, such as buying a fixer-upper. One day, while out walking, she noticed a beautiful, old house that "seemed empty and looked a wreck." A couple bought a 19th-century manor house in Ohio they saw in the Cheap Old Houses newsletterThe Angeleauxs pose in front of Walnut Hill, a house they found on the Cheap Old Houses Instagram account. In May 2022, the Cheap Old Houses newsletter advertised an 1800s manor house in the small village of Higginsport, Ohio. During the renovation, Wormann handled a termite infestation in the beams, disposing of mountains of trash, and firing unreliable contractors.

Persons: —, Betsy Sweeny, Betsy Sweeny Betsy Sweeny, Sweeny, Kayli, Angeleaux, Connor, Kayli Angeleaux, Connor Angeleaux's, We're, Farleigh, Olamide Soyemi, Cullen Farleigh Olamide Soyemi, Cullen Farleigh, Soyemi, creatives, Cullen, Anton Wormann, Anton Wormann Anton Wormann, Wormann, hadn't, akiya Organizations: Service, McClain House, Federal Housing Association Locations: Wheeling , West Virginia, McClain, Virginia, Ohio, Walnut Hill, Utah, Higginsport , Ohio, Colombus, London, East London, Swedish, Tokyo, Japan, Sweden

Fluctuations since the attack pushed oil prices as high as $96. Until something like that happens, “the oil market is going to be like everyone else, monitoring the events in the Middle East,” Lipow said. One reason 1970s-style gas lines are unlikely: U.S. oil production is at an all-time high. Weekly domestic oil production has doubled from the first week in October 2012 to now. Lawmakers from both parties have urged Biden to block Iranian oil sales, seeking to dry up one of the regime’s key sources of funding.

Persons: ” Fatih Birol, ”, Andrew Lipow, ” Lipow, Mike Sommers, Sommers, “ America’s, “, Joe Biden's, Israel, Biden, Sofia Guidi Di Sante, Wyoming Sen, John Barrasso, “ Joe, Barrasso, ____ McHugh, Choe Organizations: WASHINGTON, International Energy Agency, ”, Associated Press, Brent, Lipow Oil Associates, U.S . Energy Information Administration, Energy Department, American Petroleum Institute, Hudson Institute, Commerzbank, Oil, Rystad Energy, Republican, Senate Energy, Natural Resources Committee, Democratic, Keystone XL, Strategic Petroleum Reserve, The Energy Department, The Treasury Department, Treasury Locations: East, Israel, Saudi Arabia, Russia, China, Paris, Gaza, Iran, Houston, Hormuz, U.S, Europe, Washington, OPEC, Lebanon, Venezuela, The U.S, Wyoming, America, Frankfurt, Germany, New York

☆ Sam Bankman-Fried isn't the only one on trial. The entire crypto industry is.
▼ + stars: | 2023-10-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

But first, we're looking at why FTX cofounder and ex-CEO Sam Bankman-Fried's criminal trial has implications that could upend the entire crypto industry. Bankman-Fried, the cofounder and ex-CEO of crypto exchange FTX, was deeply enmeshed in the crypto ecosystem. The proceedings will likely provide more fascinating details about the inner workings of FTX and the broader crypto industry, potentially airing out its dirty laundry and shortcomings. Chelsea Jia FengThe crypto industry, meanwhile, is ready to move on. Some in the crypto industry are embracing a more grown-up approach.

Persons: —, Sam Bankman, Donald Trump's, JANE ROSENBERG, Tom Brady, Kevin O'Leary, Michael Lewis, Katie Balevic, Jacob Shamsian, Grace Kay, Mark Cohen, Caroline Ellison, Chelsea Jia Feng, they'll, Spencer Platt, what's, Michael M, Arvind Krishna, Rahul Pandey's, Seth Wenig, AP Trump, scowled, Donald Trump, Tyler Le, Dianne Feinstein's, Kamala Harris, Sen, Chuck Schumer, Marc Anthony, Sofia Reyes, Pluma, Bad, Wells, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan, Annie Smith, Shona Ghosh, Jack Sommers, Spriha Srivastava Organizations: Service, Tech, Chelsea, Financial, Fidelity, PayPal, Visa, Getty, Treasury, Wall, Nvidia, IBM's, Meta, AP, IRS, trailblazing, Grupo Frontera, NBA, Dallas Mavericks, Minnesota Timberwolves, Etihad Arena, The Dallas Mavericks, Etihad, Corporation National Media Locations: crypto's, Plenty, trailblazing California, Abu Dhabi, New York City, San Diego, London, New York

Biden's Interior Department on Friday unveiled a congressionally mandated five-year plan for offshore oil drilling that included just three sales, all in the Gulf of Mexico -- the lowest number in any five-year plan since the government began publishing them in 1980. Previous five-year offshore lease programs have ranged between 11 and 41 sales, according to Interior's U.S. Bureau of Ocean Energy Management. The Inflation Reduction Act, a landmark climate change law passed last year, made oil and gas lease sales a prerequisite for new offshore wind power auctions. Biden sees offshore wind power as a key element to his plan to decarbonize the U.S. economy by 2050. In a sign of the litigious nature of U.S. drilling policy, Biden's administration had been scheduled to hold a Congressionally mandated Gulf of Mexico oil and gas lease auction this month.

Persons: Biden, Erik Milito, Abigail Dillen, we've, Mike Sommers, Bill Cassidy, Vladimir Putin, Cassidy, Trump, Nichola Groom, Jamie Freed, Daniel Wallis Organizations: Biden's, Department, Reuters, National Ocean Industries Association, U.S . Bureau of Ocean Energy Management, Bureau of Ocean Energy Management, Interior Department, Biden, American Petroleum Institute, U.S . Chamber of Commerce, Gulf Coast, OPEC, Organization of, Petroleum, ., Interior, Thomson Locations: Gulf of Mexico, U.S, Gulf, Mexico, Putin, Louisiana, Russia, California

☆ 'We're in a very tight market,' says American Petroleum Institute's CEO
▼ + stars: | 2023-09-22 | 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 Email'We're in a very tight market,' says American Petroleum Institute's CEOMike Sommers, CEO of American Petroleum Institute, attributed some of the tightness in oil and gas markets to low inventories and concerns over OPEC's decisions.

Persons: Mike Sommers Organizations: American Petroleum, American Petroleum Institute

REUTERS/John Sommers II/File Photo Acquire Licensing RightsAug 18 (Reuters) - Air cargo enjoyed record demand when COVID-19 closed borders and snarled supply chains. Now, it is reeling from overcapacity and tumbling freight rates as the freight boom makes a hard landing. Passenger jets grounded during the health crisis are flying again and bringing their lower-deck cargo space, which competes with dedicated air freighters, back into play. The Florida-based carrier cited "the unyielding and rapidly mounting macro-economic headwinds that plagued the entire air cargo transportation sector starting in late 2022". In June, air cargo experienced the slowest contraction since February 2022, the International Air Transport Association said.

Persons: John Sommers, Xeneta, they're, Peter Sand, we're, Sand, planemakers, Eddy Pieniazek, expective, Pieniazek, Robert, Tim Hepher, Lisa Bartlein, Allison Lampert, Valerie Insinna, Barbara Lewis Organizations: Parcel Service, UPS, REUTERS, Air, Reuters, Western Global Airlines, Japan Airlines, Xeneta, International Air Transport Association, Ishka, Cathay, HK, Boeing, Airbus, Aeronautical Engineers, Thomson Locations: Louisville , Kentucky, Delaware, Florida, China, Asia, United States, Miami

☆ Russia's fighter jets have gone from harassing US aircraft to actually breaking them as Moscow flexes its muscles where it still can
▼ + stars: | 2023-07-28 | by ( Jake Epstein | ) www.businessinsider.com time to read: +12 min

Russian fighter jets have harassed US military drones on numerous occasions throughout July. That incident is just one of several demonstrations of Russian aggression around US military drones this month. Russian military Su-34 and Su-35 aircraft employ flares in the flight path of a US MQ-9 aircraft on July 6, 2023 over Syria. A press officer who goes by callsign Damian looks at a destroyed Russian military vehicle in Novodarivka village, Zaporizhzhia Region, southeastern Ukraine. "These maneuvers, they are to some extent intended to demonstrate Russian military strength," which could appease the country's domestic audience.

Persons: Nicholas Lokker, Alexus Grynkewich, Sabrina Singh, Su, Wagner, Yevgeny Prigozhin, Vladimir Putin, Damian, Putin, Lokker, Assad, Äzzeddin Kasim, Paul Lushenko, Lushenko, Christopher Sommers, AFCENT Organizations: Kremlin, Service, Center, New, New American Security, Islamic, US Air Force, ISIS, US Air Forces Central Command, Pentagon, Donetsk Regions, US, Anadolu Agency, Getty, US Army, Islamic Revolutionary Guard Corps, Quds Force, 421st Expeditionary Fighter Squadron, U.S . Central Command Locations: Wall, Silicon, Syria, Russia, Russian, Ukraine, New American, Moscow, Syria . Washington, Islamic State, Washington, CNAS, Belarus, Novodarivka, Zaporizhzhia Region, Zaporizhzhia, Ukrainian, Iran, Idlib, United States, Western

☆ All this AI hype could be distracting us from serious economic threats in the US
▼ + stars: | 2023-06-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

Moving forward, we'll be highlighting the latest markets news in our daily flagship newsletter, Insider Today — be sure to sign up. The excitement around ChatGPT, AI, and related tech stocks is old news now, but Wall Street can't stop talking about it. Elon Musk, Nouriel Roubini, and a chorus of Wall Street firms have issued dire warnings. The country's slowing trade, weak industrial production numbers, and piling debt all ultimately present problems for Wall Street, which may be catching on to the risk. What do you see as the connection between economic troubles and AI hype?

Persons: Phil Rosen, —, It's, Pepper, Paco Freire, that's, Zahra Tayeb, Elon Musk, Roubini, Kelvin Wong, Angela Weiss, Wagner, Vladimir Putin, Gary Black's, Goldman Sachs, Morgan Stanley's Adam Jonas, Jason Ma, Jack Sommers Organizations: Getty, Nvidia, Federal, Street, Wall, Nasdaq, Carnival plc, Harvard, Elon Locations: New York, China, America, Los Angeles, London

☆ Inside JPMorgan's handling of Jeffrey Epstein
▼ + stars: | 2023-06-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

This is the last week of 10 Things on Wall Street. But there remains a very large blight on JPMorgan's record that has come back into the spotlight this year: Jeffrey Epstein. Insider's Kaja Whitehouse and Emmalyse Brownstein have a breakdown of JPMorgan's long, drawn-out breakup with Epstein. Read more on JPMorgan's handling of Jeffrey Epstein. The Treasury secretary isn't particularly worried about the potential for more bank mergers this year, per The Wall Street Journal.

Persons: Dan DeFrancesco, I've, I'm, we've, Goldman Sachs, Jeffrey Epstein, Rick Friedman, hasn't, Kaja Whitehouse, Emmalyse, Epstein, Kaja, Read, Janet Yellen, isn't, Moody's, Francis Bacon, We've, Jeffrey Cane, Jack Sommers Organizations: Getty, JPMorgan, Dow, Norges Bank Investment Management, CNBC, Goldman, Street, Financial Times, Sequoia Capital, FDIC, Bloomberg, Dassault Falcon, LinkedIn Locations: NYC, Cambridge, Republic, dealmaking ., New York, London

☆ 10 Things in Tech: Airbnb's Montana smackdown, Microsoft whining, Salesforce worrying, and Reddit rage
▼ + stars: | 2023-06-26 | by ( Alistair Barr | ) www.businessinsider.com time to read: +5 min

I'm Insider's global tech editor Alistair Barr, and I've been missing people a lot lately. Airbnb Montana smackdown: Life in the town of Bozeman is harder thanks to short-term rentals. That sparked a boom in Airbnb and Vrbo properties in the town, causing rents and property prices to surge. They are concerned about retaining talented colleagues, their future at Salesforce, and how leadership decisions adhere to the company's core values. Submit your nomination for Insider's 5th annual list recognizing first-time and newly named top marketers at consumer brands.

Persons: Alistair Barr, I've, I'd, we're, let's, Brian Chesky Mike Segar, Airbnb Montana, Dan Latu, Justin Sullivan, Read, Nassim Taleb, SoftBank, it's, that's, Bowties, India Narendra Modi, Mark Zuckerberg, Elon Musk, Kevin Dietsch, Dana White, Lisa Ryan, Jack Sommers Organizations: Bozeman Tenants United, Getty, Microsoft, Silicon Valley titans, White House, UFC, Insider's Locations: Bozeman, Airbnb, Seattle, Washington, Salesforce, Silicon, India, China, Silicon Valley, New York, London

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