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☆ 23andMe reports sales decline day after announcing plans to cut 40% of workforce
▼ + stars: | 2024-11-12 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +2 min

23andMe on Tuesday reported declining revenue in its most recent quarter, a day after the company said it will cut 40% of its workforce and shutter its therapeutics business as part of a business restructuring plan. The genetics company reported $44.1 million in revenue for the fiscal second quarter, down from $50 million in the same period last year. 23andMe's net loss narrowed to $59.1 million, or a $2.32 per share, from $75.27 million, or $3.17 per share, a year ago. It's evaluating strategic options like asset sales and licensing agreements to "maximize the value" of the therapeutic programs, the release said. Wojcicki has repeatedly stated her intention to take 23andMe private, though she didn't address the plans on Tuesday.

Persons: Anne Wojcicki, They've, 23andMe, Wojcicki Organizations: Nasdaq, NASDAQ, SEC

☆ How Russia's war economy and defense spending could actually make it weaker
▼ + stars: | 2024-10-11 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +5 min

Russia's President Vladimir Putin visits Uralvagonzavod, the country's main tank factory in the Urals, in Nizhny Tagil on February 15, 2024. Ramil Sitdikov | Afp | Getty ImagesRussia's war-orientated economy and plans for unprecedented military spending risk deepening major imbalances within the government's finances, analysts say. Russia's military-industrial complex, feeding an insatiable war machine, has expanded significantly since the war began, as a result. Signalling its commitment to prosecuting the war in Ukraine, combined spending on both national defense and security will account for around 40% of Russia's total government spending in 2025, the draft budget suggested. Notably, defense spending will exceed twice the amount allocated for social needs such as pensions, Reuters noted.

Persons: Vladimir Putin, Uralvagonzavod, Ramil Sitdikov, Mikhail Mishustin, Tursa, Liam Peach, Peach, Alexander NEMENOV, ALEXANDER NEMENOV, Alexander Nemenov Organizations: Afp, Getty, Reuters, Sputnik, Capital Economics, Russian Statistics Agency Locations: Urals, Nizhny Tagil, Ukraine, Russia, Russian, Western, Central, Eastern Europe, Moscow, AFP

☆ Russia's defense industry has a massive labor shortage. Rules on what jobs women can do are part of the issue.
▼ + stars: | 2024-10-05 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

Russia's defense industry is short some tens of thousands of skilled laborers. Demographic trends and policies further strain Russia's labor force and defense industry. AdvertisementRussia does have one largely untapped source of labor for the defense industry: women. AdvertisementThe decline in Russia's labor force is forecast to continue until 2040, Massicot wrote. This would make bringing women into defense manufacturing a hard cultural and political pivot, Massicot said on X.

Persons: —, Vladimir Putin, Dara Massicot, Massicot, Putin, El País, Health Mikhail Murashko Organizations: Service, BBC, Carnegie Endowment, International, Workers, American Welding Society, Russian Academy of Science's Institute of Economics, Reuters, Russia's, Health Locations: Ukraine, Russia, BBC Russia, Eurasia, El

☆ Momentum rules the market this summer, but let the buyer beware
▼ + stars: | 2024-07-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

For passive investors, it's the best of times: They're seeing new highs on the two major cap-weighted indexes — S & P 500 and the Nasdaq Composite — with low volatility. One example is the Invesco S & P 500 Momentum ETF (SPMO) , which tracks the S & P 500 Momentum Index. That index follows the performance of stocks in the S & P 500 that have a high "momentum score." Momentum ETFs in 2024 S & P 500 up 18.1% Invesco S & P Momentum ETF (SPMO) up 39.9% iShares USA Momentum Factor (MTUM) up 28.5% Both ETFs also have concentrated bets. Why momentum is a risky strategy Let the buyer beware: Everyone looks like a genius holding on to winners in up markets.

Persons: Staples, Invesco, Eli Lilly, it's, It's, rebalanced, Rebalancing Organizations: Nasdaq, Tech, YTD Technology, Energy, Services, Momentum, Nvidia, Apple, Microsoft, Broadcom, Berkshire Hathaway, JPMorgan, Costco Locations: rebalancing

☆ Opinion | PEN America Has Stood By Authors. They Should Stand By PEN.
▼ + stars: | 2024-04-28 | by ( Pamela Paul | ) www.nytimes.com time to read: +2 min

But too often, recent efforts to reform institutions have meant reconstituting them in ways that distort or fundamentally undermine their core mission. Nonprofit organizations, governmental agencies, university departments and cultural institutions have ousted leaders and sent their staffs into turmoil in pursuit of progressive political goals. The latest target is PEN America, a nonprofit organization dedicated to free expression by journalists and authors. This followed a refusal by several writers to have their work considered for PEN’s annual literary awards. According to its 21 signatories, mostly up-and-coming authors, “among writers of conscience, there is no disagreement.

Persons: George Floyd, Salman Rushdie, PEN’s, Suzanne Nossel, Jennifer Finney Boylan, ” Organizations: Nonprofit, PEN America, PEN Locations: Gaza, Israel

Ukraine’s Race to Hold the Line The days of lightning battlefield breakthroughs may be over. N Anti-tank ditch 1 2 Dragon’s teeth 1 mile 3 Trenches This defensive line in southern Ukraine runs a staggering 27 miles. 25 miles KHERSON N Anti-tank ditch 1 Dragon’s teeth 2 1 mile 3 Trenches This defensive line in southern Ukraine runs a staggering 27 miles. 10 miles Anti-tank ditch 1 Dragon’s teeth 2 3 Trenches 15 miles Ditches. 25 miles N 1 Anti-tank ditch 2 Dragon’s teeth 1 mile 3 Trenches This defensive line in southern Ukraine runs a staggering 27 miles.

Persons: Copernicus, Vyacheslav Madiyevskyy, Christopher G, Cavoli, Chasiv Yar, James Rands, Janes, Rands, ” Organizations: U.S . House, Analysts, Infantry, Reuters, LUHANSK UKRAINE New, Institute for, American, Pentagon, Kurakhove, Defenses, “ Locations: Russia, Ukraine, Ukrainian, KHERSON, Wiesbaden, Germany, Kherson, Zaporizhia, LUHANSK UKRAINE, DONETSK ZAPORIZHIA, Russia KHERSON CRIMEA, ZAPORIZHIA, Russia KHERSON, CRIMEA, Avdiivka, Europe, Marinka, UKRAINE, London, “ Ukraine

☆ China is giving Russia significant support to expand weapons manufacturing as Ukraine war continues, US officials say
▼ + stars: | 2024-04-12 | by ( Kylie Atwood | ) edition.cnn.com time to read: +4 min

Chinese and Russian entitles have also been working jointly to produce drones inside of Russia, one of the officials said. And Russia’s rapidly expanding production of artillery rounds is due, in large part, to the nitrocellulose coming from China, officials said. The support from China is compensating for the significant setbacks that Russia’s defense industry experienced early in the Ukraine war due to US sanctions and export controls. The US has not seen any interruption to the ongoing Chinese support since that Biden-Xi phone call, though sometimes it takes time to see changes come to fruition. Earlier this month Treasury Secretary Janet Yellen delivered China a warning of “significant consequences” if Chinese companies provide support to Russia for the Ukraine war during her trip to the country.

Persons: ”, Chris Cavoli, Joe Biden, Xi Jinping, Antony Blinken, Biden, Xi, Vladimir Putin, Janet Yellen, Katie Bo Lillis Organizations: CNN, Ukraine, Biden, People’s, European Command, Russia Locations: China, Russia, Moscow, Ukraine, Kyiv, “, People’s Republic of China, reconstituting, Europe

☆ Top US general in Europe says Russia has in many ways 'grown back' its military strength to what it was before it invaded Ukraine
▼ + stars: | 2024-04-11 | by ( Ella Sherman | ) www.businessinsider.com time to read: +4 min

Advertisement"They still have as many tanks functioning inside Ukraine as they introduced at the beginning of the war," Cavoli said. The size of Russia's army has exceeded the size it was when it had first invaded Ukraine in 2022. Supreme Allied Commander Europe, General Christopher Cavoli addresses a media conference at NATO headquarters in Brussels, Thursday, Jan. 18, 2024. AdvertisementThe war in Ukraine has left certain elements of the Russian military untouched, and the Russians maintain certain key advantages in industrial, war materiel, and manpower. To stave off Russian forces while waiting for much-needed ammunition and aid, Ukraine has resorted to primarily using drones in combat, but these are no substitute for what Ukraine really needs.

Persons: —, Chris Cavoli, Cavoli, They've, Kurt Campbell's, General Christopher Cavoli, Virginia Mayo Cavoli Organizations: Service, US European Command, Armed, Business, Allied, NATO, AP, Royal United Services Institute Locations: Ukraine, Russia, Brussels, Virginia, London, Kharkiv

☆ Putin looms over a third successive US election
▼ + stars: | 2024-02-22 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

CNN —“Russia, Russia, Russia.”Ex-President Donald Trump’s scathing catch phrase for a torrent of investigations during his administration also serves as an apt catch-all for the current meltdown over Moscow roiling US politics. But Russia and its leader, whom President Joe Biden described as a “crazy S.O.B.” at a Wednesday fundraiser, won’t go away. All the ways Putin is playing in US politicsPutin is advancing Russian interests against the US on multiple fronts. Putin recently formalized his warming ties with North Korean tyrant Kim Jong Un by presenting him with a new limousine. The Russian leader was particularly incensed by the US-led operation to topple Libyan leader Moammar Gadhafi in 2011.

Persons: CNN —, ”, Donald Trump’s, Joe Biden, won’t, Vladimir Putin, Putin, Ukraine –, –, Alexander Smirnov, “, Trump, Smirnov, Biden, it’s, Putin can’t, ” Douglas, Alexey Navalny, Biden lambasts Trump, ” Biden, Volodymyr Zelensky, Ronald Reagan, Mikhail Gorbachev, he’s, he’d, Mike Turner, Ksenia, Paul Whelan –, Evan Gershkovich, Geopolitically, Kim Jong Un, George W, Bush, Barack Obama, Moammar Gadhafi, Hillary Clinton, Robert Mueller, “ We’ll, Mueller Organizations: CNN, Kremlin, United States, European NATO, ”, Moscow, House Republicans, GOP, CIA, NATO, Republican Party, Republicans, Republican, Trump, Marine, Wall Street, Putin, Biden, US, Democratic Locations: Russia, Moscow, United States, China, Soviet, East Germany, United, Ukraine, Russian, European, Washington, Asia, Sweden, Finland, Berlin –, Europe, Ukrainian, California, North Korea, Iran, Crimea, Helsinki, Geneva

☆ Exiled Wagner mercenaries are training Belarusian troops in what may signal Putin's puppet next door is cutting some of the strings
▼ + stars: | 2023-08-02 | by ( Jake Epstein | Chris Panella | ) www.businessinsider.com time to read: +10 min

Wagner Group mercenaries cast into exile in Belarus have been training the country's soldiers. The increased military training suggests that Putin's influential grip on Belarus may be waning. "The Wagner Group's new role in Belarusian company-level training is notable," the ISW analysis said. Shortly after that, Wagner troops began training internal troops, the Belarusian Deputy Commander of the Internal Troops confirmed on July 25. Lukashenko, meanwhile, has praised the Wagner fighters and welcomed the military training with open arms.

Persons: Wagner, Vladimir Putin, Alexander Lukashenko, Lukashenko, Yevgeny Prigozhin, Prigozhin, Eager, Russian Wagner, ISW, George Barros, Wagner's, Barros, Putin, Belta, John Kirby, We're, Kirby Organizations: Service, Kremlin, Wagner Group, Belarusian Defence Ministry, REUTERS, Russian, Institute for, Belarusian, Sputnik, Internal Troops, Belarus ' Defense Ministry, Special Operations Forces, AP, Moscow, Ukrainian, Minsk, White, National Security, NATO Locations: Belarus, Russia, Wall, Silicon, Belarusian, Asipovichy, Minsk, Russian, Brest, Washington, DC, wean, Moscow, Ukraine, Sochi, Kremlin, Africa, Poland, Lithuania

☆ Opinion | What I Learned in Ukraine
▼ + stars: | 2023-07-23 | by ( Bret Stephens | ) www.nytimes.com time to read: +3 min

I learned that every member of the American Embassy staff in Kyiv, led by our courageous and cleareyed ambassador, Bridget Brink, volunteered for the duty. I learned what it was like to sit in conference rooms and walk along corridors that would soon be shattered by Russian ordnance. I learned that Ukrainians have no interest in turning their victimization into an identity. I learned that, for all the aid we’ve given Ukraine, we are the true beneficiaries in the relationship, and they the true benefactors. NATO countries are paying for their long-term security in money, which is cheap, and munitions, which are replaceable.

Persons: Bridget Brink, general’s, Samantha Power, Power, Anatoliy Fedoruk, ”, aren’t, Ben Wallace, Britain’s Organizations: American Embassy, Marshall, United States Agency for International Development, Port Authority, Serbian, NATO Locations: Kyiv, Odesa, Belgrade, Kosovo, Bucha, Moscow, Budapest, Russia, Minsk, Ukraine

☆ Opinion: Amid fallout of Macron-Xi meeting, another world leader tries his luck
▼ + stars: | 2023-04-13 | by ( Frida Ghitis | ) edition.cnn.com time to read: +8 min

Editor’s Note: Frida Ghitis, a former CNN producer and correspondent, is a world affairs columnist. She is a weekly opinion contributor to CNN, a contributing columnist to The Washington Post and a columnist for World Politics Review. Like most of China’s diplomacy, the country paints itself as champion of global peace, even as it launches menacing military maneuvers. French President Emmanuel Macron and Chinese President Xi Jinping shake hands at a signing ceremony at the Great Hall of the People, Beijing, April 6. Just hours after Macron left, China launched an alarming military operation, encircling Taiwan in a simulation of an assault.

☆ Billionaire Adani becomes NDTV's biggest shareholder after open offer
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Dec 5 (Reuters) - Indian billionaire Gautam Adani's conglomerate on Monday raised its stake in New Delhi Television Ltd (NDTV.NS) to more than 37% through an open offer, making it the biggest shareholder of one of the country's most popular news networks. Although Adani's group was looking to take another 26% stake in NDTV, the open offer attracted bids for just 5.3 million shares, translating to an 8.3% interest in the company. Last week, Adani acquired a stake of about 29.2% in NDTV by buying a company backed by the television network's founders, Radhika Roy and Prannoy Roy, who have a 32.3% stake in NDTV. In the open offer that concluded Monday, corporate investors tendered 3.9 million shares, while retail investors offered to sell over 706,000 shares. Adani had offered to buy NDTV shares at 294 rupees in the open offer, which represents a 25% discount to Monday's closing price.

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