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☆ Everything you wanted to know about the market meltdown but were too afraid to ask
▼ + stars: | 2024-08-06 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In today's big story, we're giving a full breakdown of what has been a wild few days for the market . Tech: Big Tech is going through a bit of a mid-life crisis . Big Tech is going through a bit of a . There are a few factors at play here:Big Tech, the backbone of the market, had weaker-than-expected earnings last week. The decision could seriously hurt Google's revenue and may signal more antitrust enforcement to come for other Big Tech companies .

Persons: —, Airbnb, Rebecca Zisser, We're, what's, Warren Buffett's, Berkshire Hathaway, I'm, Claudia Sahm, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Citadel's Ken Griffin, Griffin, it's, Natalie Ammari, That's, Elon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, Tech, Big Tech, Nasdaq, Federal Reserve, Apple, Oracle, Fed, Nvidia, Bank of America, Google Locations: Japan, Berkshire, Omaha, Asia, bitcoin, Florida, New York, London

☆ Tesla keeps touting future plans. But without specific details, investors aren't buying it.
▼ + stars: | 2024-07-24 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at another Tesla earnings report that was light on details about big future plans . The approach worked well last quarter when Tesla's earnings report was even worse than expected . However, big-picture plans without concrete details fell flat for investors this time around. It's Tesla's silver lining amid the EV market slowdown. But as beneficial as competitors were to Tesla this quarter, others seem to be gearing up for battle.

Persons: Jordan Strauss, Chelsea Jia Feng, Elon, Katherine Tangalakis, Hannah Getahun, that's, —, Musk, Toby Melville, BI's Nora Naughton, It's, BI's Jordan Hart, Sundar Pichai, Waymo, Jenny Chang, Rodriguez, Wall, Keith Lerner, Ed Yardeni, Michael M, Tyler Le, Jensen Huang, Rebecca Zisser, Biden, Benjamin Netanyahu, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Business, Chelsea, AP, Tesla, Getty, BI Supply, Nvidia, Big Tech, Hollywood, AWS, Microsoft, Paramount, Digital, Google, IBM, Ford Motors, Samsung, Galaxy, The Locations: Waymo, San Francisco, Phoenix, New York, Paris, London

☆ As MLB changes its records, Josh Gibson, not Ty Cobb, is all-time batting leader
▼ + stars: | 2024-05-28 | by ( Tyler Kepner | ) www.nytimes.com time to read: +10 min

And as of Wednesday, Josh Gibson will replace Cobb as the leading hitter in the official records of the game. Thorn estimated that about 75 percent of all Negro Leagues box scores have been documented, and that MLB would update the records as more are uncovered. To some extent, Negro League numbers will always be a work in progress. Barnstorming games, essential as a financial lifeline to Negro League teams, are not included in the statistics. The scheduled games range from 26 (Negro American League, 1942) to 91 (Negro National League I, 1927).

Persons: Abner Doubleday, Tyrus Raymond Cobb, Doubleday, Josh Gibson, Cobb, ”, Larry Lester, “, Ty Cobb, Oscar Charleston, Rogers, Jud Wilson, Ed Delahanty, Buck Leonard, Ted Williams, John Thorn, Thorn, ” Lester, I’ve, Gibson, Chino Smith’s, Hugh Duffy’s, Chino Smith, Hugh Duffy, Charlie Blackwell, Ross Barnes, Willie Keeler, Rogers Hornsby, Tetelo Vargas, Vargas, — Lyman Bostock Sr, Bostock, Ted Williams ’, Sean Forman, Ty, Lester, Gary Ashwill, Kevin Johnson, Seamheads, ” Thorn, Elias, Babe Ruth, Lou Gehrig, Oscar, Barry Bonds, Jimmie Foxx, Ed Walsh, Addie Joss, Mordecai Brown, John Ward, Christy Mathewson, Rube Waddell, Walter Johnson, Dave Brown, Tommy Bond, White, Willie Mays, Mays, Bullet Rogan, Turkey Stearnes, ’ ” Lester, Simon Bruty Organizations: Major, Baseball, Negro Leagues, MLB, “, Negro League, Negro, Rogers Hornsby, Turkey Stearnes, Louis Cardinals, San Francisco Giants, Kansas City Monarchs, American, National Leagues, Negro American League, Negro National League I, Boston, New York Cubans, Twins, Red Sox, Sports, Birmingham Black Barons, Graphics, Retrosheet, Oscar Charleston, Barry, Major League Baseball, Birmingham, Giants, Mets Locations: Turkey, Birmingham, Ala, Chicago, Moline, Washington ,

"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.

Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City

☆ Interest rates staying where they are is a forgone conclusion, but the Fed's decision day still matters
▼ + stars: | 2024-05-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, what another delay to interest rate cuts means for a market banking on them. The big storyThe waiting game continuesChip Somodevilla/Getty Images; BISpoiler alert: The Federal Reserve won't be lowering interest rates today. The official announcement won't come until this afternoon, but interest rates staying where they are is a forgone conclusion. The CME FedWatch Tool, which calculates the probability of the Fed's decision based on interest rate traders, has the odds of rates staying untouched at 97.5%.) Talk of cutting interest rates has been going on for the better part of a year.

Persons: —, it's, doesn't, We'll, Chip Somodevilla, Jerome Powell, Matt Rourke, Sarah Silbiger, Alyssa Powell, CME's, aren't, Powell, Erin Schaff, Paul Krugman, Donald Trump's, Krugman, Trump, Marko Kolanovic, Rebecca Zisser, Instagram, Changpeng Zhao, Binance, Amazon, Emma Tucker's, Steve Bannon, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Stagecoach, Trump, Tech, Investors, Bloomberg, Getty, The New York Times, Hunterbrook, JPMorgan, Adobe, Wall Street Journal, Staff, eBay, Pfizer, Google Locations: stagflation, New York, London

☆ Elon Musk is taking on Brazil — but there's one country he won't dare oppose
▼ + stars: | 2024-04-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

Read previewElon Musk's free speech clash with Brazil's government is intensifying. On Sunday, the country's Supreme Court described his defiance of an order to take down several accounts on X as a "flagrant" obstruction. The accounts are believed to be linked to digital militias that have spread fake news and threats against Brazil's supreme court during the administration of President Jair Bolsonaro, The Associated Press reported . Brazilian Supreme Court judge, Justice Alexandre de Moraes, said Musk had launched a disinformation campaign against the Supreme Court, and that he should be investigated. When it comes to potentially aggravating China, it seems that Musk's commitment to free speech may be less absolute than he claims.

Persons: —, Elon, Brazil's, Jair Bolsonaro, Alexandre de Moraes, Musk, Tesla Organizations: Service, Associated Press, Business, Supreme, Communist, The New York Times, Musk's, Monday Locations: Brazil, China, Shanghai

☆ A fight over sewage is preventing Long Island from solving its crippling housing crisis
▼ + stars: | 2024-02-14 | by ( Eliza Relman | ) www.businessinsider.com time to read: +9 min

The people of Suffolk County, Long Island, need to start considering it. Like most of the suburbs surrounding New York City, Suffolk County is suffering from a major shortage of homes. In December, New York Governor Kathy Hochul announced she'll send $59 million to Long Island to deal with water contamination and sewer upgrades. “The governor has said she wants to see more housing on Long Island. Last year, Long Island public officials led the charge against Gov.

Persons: —, Hunter Gross, “, ” Gross, Long, Suffolk County’s, Ed Romaine, Kathy Hochul, you’ve, ”, Joe, Edmund Smyth, ” Smyth, ” Long, Kathy Hochul’s, who’ve, boomers, can’t, that's, Ian Wilder, Nathan Cummings, ” Cummings, Cummings Organizations: Service, Hamptons, Business, Newsday, Republican, ” Long Islanders, Gov, New, Housing Services, Yale Law Locations: Suffolk County, Long, New York City, Huntington, Suffolk, New York, Huntington , Suffolk County, Levittown, Black, Old Lyme , Connecticut

☆ This habit helped Bill Gates change careers after retiring from Microsoft—despite being 'very monomaniacal’ at the time
▼ + stars: | 2023-12-03 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Career changes can be hard, even for Bill Gates — who credits a simple, lifelong habit for his switch from a narrow-minded, decades-long focus on computers and software to international philanthropy. "I had a long period from about age 18 to 40 where I was very monomaniacal ... Microsoft was everything," Gates, 68, recently told comedian Trevor Noah on the "What Now? "I was lucky enough that as other people took over Microsoft, I got to go and read and learn about all the health challenges, why children die." With even more time to read, he researched ongoing global health crises and decided to make the Bill and Melinda Gates Foundation his primary focus, he said. "Reading fuels a sense of curiosity about the world, which I think helped drive me forward in my career and in the work that I do now with my foundation," Gates told Time in 2017.

Persons: Bill Gates —, Gates, Trevor Noah, Melinda French Gates, Melinda Gates, —, he's, It's, it's, Mark Cuban, Bill Maher's, Warren Buffett Organizations: Microsoft, Melinda Gates Foundation Locations: United States

COOPERSTOWN, N.Y. (AP) — Adrián Beltré, Joe Mauer, Chase Utley, David Wright, José Bautista and Matt Holliday are among 12 new candidates on the Hall of Fame ballot released Monday. Bartolo Colon, Adrián González, Victor Martinez, Brandon Phillips, José Reyes and James Shields also are making their first appearances on the ballot. Political Cartoons View All 1260 ImagesSheffield will be making his 10th and final BBWAA ballot appearance. Utley was a six-time All-Star second baseman who hit .275 with 259 homers and 1,025 RBIs for Philadelphia (2003-15) and the Dodgers (2015-19). He hit .299 with 316 homers and 1,220 RBIs for Colorado (2004-08, 2018), Oakland (2009), St. Louis (2009-16) and the New York Yankees (2017).

Persons: Beltré, Joe Mauer, Chase Utley, David Wright, José Bautista, Matt Holliday, Todd Helton, Billy Wagner, Bartolo Colon, Adrián González, Victor Martinez, Brandon Phillips, José Reyes, James Shields, Scott Rolen, Helton, Wagner, Alex Rodríguez, Manny Ramírez, Andruw Jones, Gary Sheffield, Carlos Beltrán, Omar Vizquel, Andy Pettitte, Bobby Abreu, Jimmy Rollins, Mark Buehrle, Francisco Rodríguez, Torii Hunter, Brooks Robinson's, Utley, Reggie Jackson, George Springer, Wright, Bautista, Holliday, Louis, Jim Leyland, Lou Piniella, Cito Gaston, Davey Johnson, Joe West, Ed Montague, Bill White, Hank Peters, ___ Organizations: of Fame, Baseball Writers ’ Association of America, Sheffield, Los Angeles Dodgers, Philadelphia, Dodgers, New York Mets, Baltimore, Kansas City, Mets, Colorado, New York Yankees, National League Locations: COOPERSTOWN, N.Y, Seattle, Boston, Texas, Minnesota, Tampa Bay, Kansas, Pittsburgh, Toronto, Atlanta, Philadelphia, Oakland, St

☆ Schonfeld's growing pains: Ryan Tolkin reckons with his greatest challenge yet as returns dry up at the $13 billion hedge fund
▼ + stars: | 2023-08-23 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

When it was raising fresh money from investors in 2020, one slide on the pitch deck for the hedge fund Schonfeld Strategic Advisors got to the heart of the issue: "Why Schonfeld?" A hedge fund recruiterAmid the weakness, the fund has begun to prune costs. Steve Schonfeld (class of 1977) and Brad Tolkin (class of 1976) attended Roslyn High School in Roslyn Heights, New York. Tolkin told Insider in 2019 that the firm's goal was no less than becoming "the premier equities hedge fund globally." While Steven Schonfeld's 20% annual-return goals would've been ambitious for any sizable hedge fund, returns have also lagged behind peers.

Persons: Israel Englander, Ryan Tolkin, Steve Schonfeld, hasn't, It's, Schonfeld, Quita Ramirez, Trina Geatz, who've, Tolkin, Goldman Sachs, Andrew Fishman, Goldman Sachs —, Steven Schonfeld's, Ryan Tolkin's, Brad Tolkin, Brad, Jeff, Alex Morrell Steve, CJ, Sean, Ryan, Brad Tolkin's, Steven Schonfeld, Ryan —, who's, Steve, Michael Gelband, Michael Englander, Izzy Englander's, Steven, Sharpe, Fishman, Michael Nagle, Colin Lancaster, would've, Brevan Howard, ExodusPoint Organizations: Citadel, Duke, Goldman, Long, Newsday, Schonfeld Securities, Roslyn High School, American Express, Cleveland Cavaliers, Jewish, —, Bloomberg, Strategic Partners, Equity, Schonfeld, Nasdaq, Management Locations: Israel, Miami, Stamford , Connecticut, Manhattan, Delta, Duke, Long Island, Roslyn Heights , New York

☆ Sweden knock United States out of World Cup on penalties
▼ + stars: | 2023-08-06 | by ( Ian Ransom | ) www.reuters.com time to read: +3 min

Sophia Smith had had the chance to win the match for the four-times champion Americans but blasted the ball over the bar. Sweden goalkeeper Zecira Musovic emerged as the hero, having kept the Scandinavians in the match, making 11 saves before the shootout to deny the Americans. We took it to extra time, we took it to penalties and we managed to win." For it to go to penalties and to end in that fashion, with the confusion at the end." Reporting by Ian Ransom in Melbourne; Editing by Nick Mulvenney and Ed OsmondOur Standards: The Thomson Reuters Trust Principles.

Persons: Sweden's Lina Hurtig, Read, Lina Hurtig, Alyssa Naeher, Sophia Smith, Zecira Musovic, Magda Eriksson, Vlatko Andonovski, Sofia Jakobsson, Megan Rapinoe, Alex Morgan, Rapinoe, Sweden's Nathalie Bjorn, Naeher, Rebecka, Smith's, Magdalena Eriksson, Kelley Ohara, pinging, Hurtig, Ian Ransom, Nick Mulvenney, Ed Osmond Organizations: Soccer Football, FIFA, United, Thomson Locations: New Zealand, Sweden, United States, Melbourne, Australia, MELBOURNE, U.S, France, Canada

☆ 'Tourflation'? Taylor Swift, Beyoncé and Bruce Springsteen could be making inflation worse
▼ + stars: | 2023-07-11 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +4 min

Beyoncé performs onstage during the “RENAISSANCE WORLD TOUR” at PGE Narodowy on June 27, 2023 in Warsaw, Poland. "One of the things of course that struck me is how enormously high prices for concerts, for gigs have become," he told CNBC Make It. "I suspect that there is an impact on inflation overall from concert prices becoming more expensive. That's not necessarily due to one particular artist," he said, adding that concert prices themselves do, however, appear to have increased. Taylor Swift performs onstage during night one of Taylor Swift | The Eras Tour at Nissan Stadium on May 05, 2023 in Nashville, Tennessee.

Persons: Beyoncé, Kevin Mazur, Taylor Swift, Bruce Springsteen, Elton John, Harry Styles, Ed Sheeran, Natalie Merchant, Klaus Baader, It's, Filip Andersson, Andersson, it's, Philip Shaw, haven't, Baader, John Shearer, Shaw Organizations: PGE, Getty, Ticketmaster, U.K, Societe Generale, CNBC, Danske Bank, Nissan Locations: Warsaw, Poland, U.S, Sweden, Stockholm, Swedish, Nashville , Tennessee

But Fed officials on Monday said the jury is very much out. Bostic said businesses in his southeastern U.S. Fed district "are telling me we think you're close to overdoing it ... Investors have consistently bet that the central bank, due to some combination of recession or a faster-than-expected drop in inflation, will be cutting rates by later this year. Minneapolis Fed President Neel Kashkari said the central bank probably has "more work to do on our end, to try to bring inflation back down." In addition, he says the full impact of Fed rate hikes has yet to be felt.

☆ Cambodian opposition figure Kem Sokha sentenced to 27 years of house arrest
▼ + stars: | 2023-03-03 | by ( Prak Chan Thul | ) www.reuters.com time to read: +3 min

REUTERS/Cindy LiuPHNOM PENH, March 3 (Reuters) - Prominent Cambodian opposition figure Kem Sokha was sentenced on Friday to 27 years of house arrest after being found guilty of treason, in a case condemned by the United States as politically motivated. Judge Koy Sao also told the court in the capital, Phnom Penh, that Kem Sokha would be barred from running for political office or voting in elections. Kem Sokha, who headed the now-disbanded Cambodia National Rescue Party (CNRP), had denied the charges and Washington dismissed the allegations as "fabricated conspiracy theories". Many media outlets critical of Hun Sen have also been shuttered and civil dissent crushed in recent years. Human Rights Watch said the case against Kem Sokha was a "politically motivated ploy" by Hun Sen to sideline the opposition and stamp out democracy.

The defamation case brought by actor Johnny Depp against his ex-wife Amber Heard came to an end on Wednesday after a seven-person jury unanimously ruled in favor of Depp. The jury awarded Depp $10 million in compensatory damages and $5 million in punitive damages in his defamation suit. Depp also claims she is not the victim of domestic violence but instead the perpetrator. 2022On April 11, the weekslong defamation trial kicks off, with Heard and Depp appearing in court in Fairfax County, Virginia. The jury unanimously finds that Heard defamed Depp, awarding him $5 million in punitive damages and $10 million in compensatory damages.

☆ The perils and promise of quantum computing are nearing. Here are ways to invest
▼ + stars: | 2022-09-24 | by ( Hugh Son | ) www.cnbc.com time to read: +11 min

"In a five- to 10-year timeframe, quantum computing will break encryption as we know it." Since its conceptual birth in the early 1980s, quantum computing has held promise for systems that could exponentially outperform today's computers. Rather than leaning on the zeroes and ones of classical computers, quantum computers emerged from quantum physics, which is the study of the fundamental building blocks of matter and energy. Those strange properties account for the technology's potentially explosive abilities; each additional qubit doubles a quantum computer's power. They are named D-Wave Systems , Rigetti Computing, IonQ , and Quantum Computing.

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