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☆ Growth is in the double digits, says Vinted CEO
▼ + stars: | 2024-10-25 | 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 EmailGrowth is in the double digits, says Vinted CEOThomas Plantenga, CEO of Vinted, discusses the expansion of the company and what he expects for the market of second-hand clothes and accessories.

Persons: Thomas Plantenga

☆ Innovations in glass technology are driving progress in energy, sustainability, and consumer products. Here's what that looks like.
▼ + stars: | 2024-10-25 | by ( ) www.businessinsider.com time to read: +7 min

Since Otto Schott invented specialty glass in 1884, the simple material has become a cornerstone of modern technology, and driving innovation. From semiconductors to clean energy, home tech, and electric vehicles, glass is the silent enabler of progress. Specially engineered laser glass helped researchers achieve what was once thought impossible: creating more energy from a reaction than was put into it. The light, amplified by active laser glass and focused through precisely crafted optical glass, delivered significant energy to a tiny fuel pellet, triggering a fusion reaction that produced a net energy gain. The fusion reaction generated 3.15 megajoules of energy, exceeding the 2.05 megajoules of laser energy delivered to the target.

Persons: Bill James, Otto Schott, SCHOTT Organizations: SCHOTT North, Industry, photonics, Lawrence Livermore National Laboratory, SCHOTT, Insider Studios Locations: SCHOTT North America

☆ More than 130 Israeli reservists sign letter refusing to fight in Gaza and Lebanon
▼ + stars: | 2024-10-25 | by ( Zeena Saifi | ) edition.cnn.com time to read: +9 min

Since then, he has spent more than 230 days serving with the Israeli military in Gaza. Max Kresch served on Israel’s border with Lebanon for 66 days after October 7. Max Kresch served for nearly 70 days on the Israel-Lebanon border and feels like the Israeli government has betrayed his trust throughout the war. Like Kresch and Vilk, he believed it was necessary to fight Hamas on October 7, but to what end? Back in May, more than 40 reservists signed a letter after Israeli forces invaded the southern Gazan city of Rafah.

Persons: CNN —, Yotam Vilk wasn’t, –, “, ”, Benjamin Netanyahu, Yoav Gallant, he’d, Netanyahu, Vilk, Max Kresch, Kresch, he’s, ” Israel’s, Itamar Ben Gvir, Ben Gvir, ” Kresch, ‘, “ We’re, haven’t, Miri Regev, …, ” Vilk, wasn’t Organizations: CNN, West Bank, National, Hezbollah, Transportation, Kann, refusals Locations: Israel, Gaza, Lebanon, Lebanese, Jerusalem, Iran, Gazan, Rafah, United States

☆ A top TikTok shopping exec explains its US growth strategy, from partnering with agencies to building up livestreaming
▼ + stars: | 2024-10-25 | by ( Dan Whateley | ) www.businessinsider.com time to read: +7 min

TikTok Shop is preparing for the holiday season as it crosses one year since its US launch. The company is pushing live shopping, influencer partnerships, and other selling tactics. The company has courted a roster of creators to promote products in exchange for a commission on sales. Related storiesHow do you think about introducing TikTok users to live shopping? I am really curious about this idea of the TikTok Shop creator ... How do you think about working with that cohort and using them to help grow the platform?

Persons: Nico Le Bourgeois, —, TikTok, Le Bourgeois Organizations: Service, Business, TikTok, Amazon, Walmart Locations: China, New York, LA, Seattle

☆ Alphabet's self-driving unit Waymo closes $5.6 billion funding round as robotaxi race heats up in the U.S.
▼ + stars: | 2024-10-25 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +4 min

Waymo has closed a $5.6 billion funding round to expand its robotaxi service in and beyond Los Angeles, San Francisco and Phoenix, where it operates today. In a statement to CNBC, Waymo co-CEOs Tekedra Mawakana and Dmitri Dolgov said the funding would go toward expansion and advancing the Waymo Driver for business applications. The series C funding brings Waymo's total capital raised to $11.1 billion after it raised $3.2 billion and $2.5 billion in two earlier rounds. Waymo now conducts more than 100,000 weekly trips for passengers in Los Angeles, Phoenix and San Francisco, who can hail their robotaxis via the Waymo One app. More recently, Waymo partnered with Uber to launch its robotaxi service in Austin, Texas — home of would-be rival Tesla's headquarters.

Persons: Waymo, Andreessen Horowitz, Perry, Rowe Price, Tekedra Mawakana, Dmitri Dolgov, Uber, Ruth Porat, Elon Musk, Tesla, Timothy B, Lee . Organizations: Google, Fidelity, Tiger Global, CNBC, Tesla's, GM, Cruise, Pew Research Center, Hyundai Locations: Los Angeles, San Francisco, Phoenix, Waymo, Silver, Austin, Atlanta, U.S, Austin , Texas, Texas, California, Korean, New York, Michigan

☆ Store closings have hit their highest level in years. Competition and higher prices crushed them
▼ + stars: | 2024-10-25 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

“It kept these players alive that couldn’t survive in normal situations.”Competition from juggernauts like Amazon, Walmart, Costco, Home Depot and other big-box retailers has also squeezed smaller chains. In 2017 and 2018, retailers closed a combined 13,400 stores, according to Coresight. Retailers closed a record 9,800 stores in 2019. Around 9,700 stores closed in 2020, according to Coresight. Drug store chains are also shrinking.

Persons: —, ”, Michael Brown, Kearney, ” Brown, Barbara Kahn, Charlotte Russe, Shopko, Ted Decker, Joann Fabric, Denny’s, Kelli Valade, Justin Sullivan, Amazon’s, It’s, ” Kahn, TJ Maxx, TJX Organizations: New, New York CNN, Walgreens, Research, Companies, Consumers, “, Walmart, Costco, Home, ” Retailers, United, University of Pennsylvania’s Wharton School, Coresight, Retailers, Sears, P Global Market Intelligence, CVS, Aid, Marshalls, Aldi Locations: New York, “, Amazon, United States, Gymboree, JCPenney, Tijuana, HomeGoods

☆ This is why David Einhorn thinks Peloton could be worth five times what it is now
▼ + stars: | 2024-10-25 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +6 min

The first page of the deck was titled "15 minute 'Stock Pitch Ride'" and shows an image of Einhorn on a Peloton bike. Greenlight Capital's David Einhorn thinks Peloton could trade as high as $31.50 a share if the company slashes costs, which could double its current adjusted EBITDA projections, CNBC has learned. And Adidas has 8 times more sales than Peloton and an order of magnitude more product lines." In August, Peloton said it expects it can post adjusted EBITDA of between $200 million and $250 million in fiscal 2025. "The nice part of our thesis is that we don't have to convince Peloton this is the right approach," said Einhorn.

Persons: Einhorn, Einhorn pedaled, Greenlight Capital's David Einhorn, Bill Ackman, Robin Hood, Richard Buery —, Karen Boone Organizations: Robin Hood Investors Conference, Wednesday, CNBC, Spotify, Netflix, Adidas, Companies Locations: EBITDA

☆ Wall Street braces for a big week ahead of the election, with megacap tech earnings, key data on tap
▼ + stars: | 2024-10-25 | by ( Sarah Min | ) www.cnbc.com time to read: +5 min

Investors will contend with earnings results from five of the Magnificent Seven companies next week. .SPX 1M mountain S & P 500 "I sort of refer to this period that we're in right now as like a strange brew," said Mark Malek, investment chief at Siebert. On Friday, the Nasdaq Composite hit an all-time high , but the S & P 500 snapped a six-week win streak. In fact, the high concentration of the mega-cap leaders in the S & P 500 spurred Goldman Sachs' David Kostin this month to release a dim long-term forecast for the overall market. HSBC head of equity strategy Nicole Inui upped her S & P 500 year-end target to 5,900.

Persons: Mark Malek, Siebert, Goldman Sachs, David Kostin, Siebert's Malek, they've, Nicole Inui, Inui, D.R Horton, Price, Eli Lilly, Lauder Organizations: Microsoft, Meta, Apple, Nasdaq, U.S, Treasury, Big Tech, HSBC, FactSet, Richmond Fed, Dallas Fed, Ford, Semiconductor, Caesars Entertainment, Devices, Pfizer, Royal Caribbean Group, PayPal, ADP, Kraft Heinz, Caterpillar, GE Healthcare Technologies, Holdings, ECI Civilian Workers, PCE, PCE Deflator, Chicago PMI, Cruise Line Holdings, Uber Technologies, Lauder Companies, Mastercard, Generac, Jobs, PMI, Manufacturing, Exxon Mobil Locations: U.S, Chicago

The rise of online betting has led the commercial gambling industry to balloon worldwide, posing a significant threat to public health, according to a new report. The report, published Thursday, comes from a public health commission on gambling convened by the medical journal The Lancet. The report highlighted the role online gambling has played in the rising availability of commercial gambling as a whole. Belgium, the Netherlands and Ontario, for example, have varying restrictions on gambling advertising, including online gambling. A 2015 paper found that online gambling could lead to the emergence or aggravation of gambling problems.

Persons: “ We’re, ”, Louisa Degenhardt, Heather Wardle, “, FanDuel, Alan Feldman, Feldman, Wardle Organizations: University of New, D.C, American Gaming Association, Pew, University of Glasgow, University of Nevada, Las Vegas, Gaming Institute, MGM, Council for Responsible Gaming Locations: University of New South Wales, Sydney, U.S, Washington, Scotland, Belgium, Netherlands, Ontario, Germany, Spain, Sweden, Norway, Massachusetts , Illinois, Virginia, Pennsylvania, Las

☆ Leaders meet at Commonwealth summit with slavery reparations on agenda
▼ + stars: | 2024-10-24 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | ) www.nbcnews.com time to read: +4 min

APIA, Samoa — The leaders of the Commonwealth grouping of nations met on Thursday ahead of a summit in the South Pacific nation of Samoa that will feature talks on climate change and the question of reparations for Britain’s role in transatlantic slavery. More than half of the Commonwealth’s members are small nations, many of them low-lying islands at risk from rising sea levels caused by climate change. Among them is Tuvalu, whose climate change minister, Maina Vakafua Talia, urged the grouping to strive for the Paris Accord’s warming goal of 1.5 degrees C (2.7 degrees F), calling new fossil fuel projects a “death sentence” for his country. Island leaders are expected to issue a declaration on ocean protection at the summit, with climate change being a central topic of discussion. “Climate change is an existential threat,” Australian Foreign Minister Penny Wong told a press conference after a meeting with counterparts.

Persons: Samoa —, King Charles, Maina Vakafua Talia, ”, Penny Wong, ” King Charles III, Queen Camilla, Chris Jackson, Charles, Antonio Guterres, Fiame Naomi Mata’afa, Anthony Albanese, Keir Starmer, Starmer, Eric Phillips, Kingsley Abbott, Frederick Mitchell, ” Abbott Organizations: Commonwealth, Government, Getty, United Nations, Australian, Caribbean Community, African Union, London University’s Institute of Commonwealth Studies, BBC, CARICOM Locations: APIA, Samoa, Commonwealth, South Pacific, Tuvalu, Paris, Apia, Zambia, Britain, France, Portugal, Bahamas, Americas, Brazil, Caribbean

☆ Earnings growth is falling short of expectations thus far
▼ + stars: | 2024-10-24 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Corporate earnings are not meeting expectations thus far. Roughly 160 S & P 500 companies have posted third-quarter results thus far, with their bottom lines growing an average of just 2.6%, per FactSet. The blended growth rate, which includes the reports already out and estimates for those on the docket, points to overall S & P 500 earnings growing at 3.4% from the year-earlier period. The S & P 500 rebounded slightly from a three-day slide on Thursday due in part to strong earnings reports. Companies slated to report earnings after the close Thursday include Deckers, Capital One and DexCom.

Persons: Joseph Cusick, " Cusick, Sam Stovall, Stovall Organizations: Calamos Investments, Research, Whirlpool, PayPal, CNBC, Companies, Tech, Amazon, Apple

☆ A loneliness epidemic is spreading worldwide. Seoul is spending $327 million to stop it
▼ + stars: | 2024-10-24 | by ( Jessie Yeung | ) edition.cnn.com time to read: +8 min

CNN —Every year, thousands of South Koreans – mostly middle-aged men – die quietly and alone, cut off from their family and friends. “Loneliness and isolation are not just individual problems, but tasks that society must solve together,” Seoul mayor Oh Se-hoon said in a news release. The phenomenon, known by the Japanese term “hikikomori,” has become increasingly common; South Korea had up to 244,000 such recluses in 2022 by one estimate. A Buddhist nun and staff of Good Nanum hold the name tablets of three deceased people before their cremation on June 16, 2016 in Goyang, South Korea. However, when asked about what makes them feel lonely, “there are some differences compared to other countries,” she said.

Persons: –, hoon, ”, Soo, Myongji University – cautioning, Nanum, Jean Chung, “, they’re, Anthony Wallace, … Organizations: CNN, Koreans, Myongji University, Ministry of Health, Getty, Government, Prevention, Management, Korea isn’t, United, World Health Organization Locations: Seoul, Korea, South Korea, Goyang, “, South Koreans, South, AFP, Japan, United Kingdom

☆ Here are Oppenheimer's best stock ideas heading into November
▼ + stars: | 2024-10-24 | by ( Sean Conlon | ) www.cnbc.com time to read: +3 min

Looking ahead to November, Oppenheimer has updated its top stock ideas list, which features additions such as CarMax , Mastercard and Atlassian . He has an outperform rating on the stock, and his price target implies nearly 26% upside from Wednesday's close. Analyst Ittai Kidron has an outperform rating on the stock, and his $230 target reflects nearly 22% upside, as of Wednesday's close. That implies more than 15% upside from Wednesday's close. Evercore ISI also added Broadcom to its top chip stock picks ahead of its earnings report later in the year.

Persons: Oppenheimer, Michael Wiederhorn, Cigna, Ittai Kidron, Kidron, Atlassian, Morgan Stanley, Rick Schafer, Schafer, Hock Tan Organizations: Dow Jones, Nasdaq, Mastercard, Dick's Sporting Goods, Bloomberg, Humana, Bloomberg News, Broadcom, ISI

☆ Keurig Dr Pepper will buy energy drink maker Ghost for more than $1 billion
▼ + stars: | 2024-10-24 | by ( Auzinea Bacon | ) edition.cnn.com time to read: +1 min

New York CNN —Keurig Dr Pepper will expand its energy drink business by acquiring the brand Ghost for more than $1 billion. The range of Ghost’s energy drink flavors, in partnership with sweet brands like Sour Patch Kids and Oreo, sets Keurig up to appeal to a younger audience, the company said in a statement Thursday. This is the biggest deal Keurig has signed off since acquiring Dr Pepper Snapple Group in 2018 for nearly $19 billion in cash, according to the Wall Street Journal. Keurig Dr Pepper Inc. (KDP) will acquire Ghost in two stages, paying $990 million in cash for 60% of the company by early 2025, then will buy the remaining stake in 2028, according to the statement. The deal includes Ghost’s sports nutrition business and energy drink arm.

Persons: New York CNN —, Dr Pepper, Keurig, Tim Cofer, “, ” Cofer, Pepper, Ghost’s, Dan Lourenco, Ryan Hughes, ”, Lourenco Organizations: New, New York CNN, Dr Pepper Snapple Group, Wall Street, C4 Energy, Black Rifle Coffee Company, Pepper Inc Locations: New York

☆ BRICS' new declaration shows Russia's war still can't get the international backing that Moscow wants
▼ + stars: | 2024-10-24 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

BRICS' Kazan Declaration on Wednesday contained 134 points — and only one discussed the Ukraine war. It shows that Russia still has trouble getting friendly countries on board with the war, per the ISW. AdvertisementOver two dozen world leaders at this year's BRICS summit ended Wednesday's talks with the Kazan Declaration, a 134-point summary of their agreements. "The Kazan Declaration notably only mentioned Russia's war in Ukraine once," the Washington-based think tank wrote. The declaration "demonstrated that Russia has not yet secured the international support nor created the alternative security structure that the Kremlin desires," ISW added.

Persons: BRICS, —, Vladimir Putin, ISW, Huileng Tan, Putin Organizations: UN, Service, United Nations, Kyiv, South Sudanese, Mastercard Locations: Kazan, Ukraine, Russia, China, Washington, Nazi, Moscow, Brazil, India, Syria, Tel, Lebanon, Gaza, Republic, Tatarstan

☆ What to do with Honeywell stock after its sharp post-earnings pullback
▼ + stars: | 2024-10-24 | by ( Jim Cramer | ) www.cnbc.com time to read: +7 min

Dow stock Honeywell was one of the biggest drags on the 30-stock average Thursday after Club industrial giant reported mixed third-quarter results compounded by a mixed outlook. HON YTD mountain Honeywell YTD Honeywell shares sinking 4.5% after the release was understandable but represents an opportunity. Honeywell Why we own it: Honeywell is a provider of industrial technology solutions to companies in various industries. Sales were revised lower because the short cycle recovery in the company's industrial automation segment is not materializing as quickly as management was expecting. Honeywell International Inc. signage is displayed on a monitor on the floor of the New York Stock Exchange (NYSE) in New York.

Persons: we're, Vimal Kapur, Kapur, Kupar, Jim Cramer's, Jim Cramer, Jim, Michael Nagle Organizations: Dow, Honeywell, Emerson, CAES Systems, Air Products, Aerospace Technologies, CNBC, Honeywell International Inc, New York Stock Exchange, Bloomberg, Getty Locations: New York

☆ Barclays profit jumps 23% in third quarter, beating expectations
▼ + stars: | 2024-10-24 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

LONDON — British bank Barclays on Thursday reported £1.6 billion ($2 billion) net profit attributable to shareholders for the third quarter, beating expectations. The result compared with the £1.17 billion net profit forecast in an LSEG poll of analysts and was 23% higher than the same period in 2023. In the second quarter, Barclays net profit fell slightly year-on-year amid lower income at its U.K. consumer bank and corporate bank, as net profit jumped 10% at its investment bank. Corporate bank income was 1% higher due to a rise in average deposit balances, while investment banking income gained 6%. Amid declines, income at Barclays' private U.S. consumer bank dipped 2% year-on-year as its wealth management unit fell 3%.

Persons: Venkatakrishnan, we've Organizations: LONDON, Barclays, Revenue, Tesco Bank, CNBC

☆ Inside Amazon's nuclear ambitions, its 'Piano Man' project, and CEO Andy Jassy's support
▼ + stars: | 2024-10-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +8 min

The company's energy strategy team recently pitched CEO Andy Jassy on the benefits of nuclear power. AdvertisementIn June, Amazon's Global Energy Strategy team pitched CEO Andy Jassy the idea of doubling down on nuclear power to support its growing network of data centers. Jassy agreed, according to an internal Amazon document from the third quarter that was obtained by Business Insider. The company considered tapping into at least four additional existing nuclear power plants and sought even more small modular reactor deals. Nuclear power can be safer, more reliable, and more cost-efficient in the long term compared to other power sources, according to Jacopo Buongiorno, a nuclear engineering professor at MIT.

Persons: Andy Jassy, —, Thos Robinson, It's, Sam Altman, Jassy, Jacopo Buongiorno, Buongiorno Organizations: Service, Amazon's Global Energy, Business, Amazon, Amazon Web Services, Hulton, Google, Kairos, Microsoft, Amazon's Global Energy Strategy, BI, US Department of Energy, MIT, Global Energy Strategy Locations: Pennsylvania, Fukushima, Maryland, Texas

☆ 2024 WNBA season: A historic year for women’s basketball, both on and off the court
▼ + stars: | 2024-10-24 | by ( Thomas Schlachter | ) edition.cnn.com time to read: +12 min

CNN —With confetti falling from the rafters, a boisterous Brooklyn crowd bellowing and the victorious New York Liberty celebrating, the curtain fell on the 2024 WNBA season. ‘The perfect storm’The latest edition of the WNBA season had all the hallmarks for booming success, with all the pieces falling into place almost serendipitously. The Fever superstar also set rookie season records for both points and three-pointers made and became the first rookie to get a triple-double. Las Vegas Aces star A'ja Wilson was named WNBA MVP for the third time following the 2024 season. It’s super exciting and kind of crazy to say that.”The New York Liberty beat the Minnesota Lynx to win the 2024 WNBA Finals at Barclays Center.

Persons: LaChina Robinson, Caitlin Clark, Angel Reese, it’s, ’ ” Robinson, Robinson, –, agonizingly, Liberty –, Sarah Stier, ” Robinson, “ I’m, “, Chelsea Gray, Charisma Osborne, ” Osborne, They’ve, Clark, Reese, A’ja Wilson, Darron Cummings, Osborne, “ It’s, UConn’s irrepressibly, Paige Bueckers, Wilson, “ We’ve, ”, A'ja Wilson, Kirby Lee, they’ve, Maya Moore, Diana Taurasi, we’ll, Wendell Cruz, Gray, I’ve Organizations: CNN, New York Liberty, WNBA, CNN Sport, Minnesota Lynx, Liberty, Barclays Center, Phoenix Mercury, Aces, ESPN, UCLA, Indiana, Chicago Sky, Sky, Las Vegas Aces, USA, Sports, Reuters, YouTube, Area Locations: Brooklyn, Nevada

☆ Why Walmart stock keeps hitting new highs, making the Waltons richer than ever
▼ + stars: | 2024-10-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Walmart stock has soared 58% this year to record highs, making its founding family richer than ever. Retail legend Sam Walton's three surviving children are each worth more than $100 billion. Walmart and the Waltons have benefited from a signature strategy and cost pressures on consumers. The stock surge has added more than $32 billion to the fortunes of each of founder Sam Walton's three surviving children — Jim, Rob, and Alice. But it's true the vast majority of the family fortune remains in the hands of Sam Walton's children.

Persons: Sam Walton's, —, they're, Jim, Rob, Alice, Elon Musk, David King, who've, King, Art Weinstein, Florida who's, Weinstein, Sam Walton shrewdly, . King, Jeff Bezos, Mark Zuckerberg, Sam Walton, John T, Lukas Walton, it's Organizations: Walmart, Waltons, Service, Bloomberg, Elon, Sam's, Management, Florida State University, Logistics, Procter, Nova Southeastern University, Tech, Tesla, SpaceX, Amazon Locations: Florida

☆ Amazon's AI data center dream runs into the reality of 'zombie' facilities, higher costs, and labor shortages
▼ + stars: | 2024-10-23 | by ( Eugene Kim | ) www.businessinsider.com time to read: +13 min

Electricity and labor headwinds slow Amazon's data center buildout. AdvertisementAmazon is spending heavily on data centers to support booming AI workloads, putting it on pace to build 240 new facilities by 2040, one estimate found. David Cahn, a Sequoia Capital general partner, recently predicted data center delays across the sector. Bernstein Research recently estimated that electricity demand for AI data centers could exceed supply in just two years without action. An Amazon data center in Oregon.

Persons: —, It's, David Cahn, Marc Wulfraat, MWPVL, we've, Bernstein, Amazon's, Matt Garman, JOSH EDELSON, Garman, Manuel Pineda, Pineda, Owens Corning Organizations: Service, Sequoia Capital, Energy, Amazon, Boston Consulting Group, Bernstein Research, Business, Web, San Francisco 49ers, BI, AWS, Uptime Institute, Center, Survey Locations: AMER, Americas, Oregon , Ohio, Northern Virginia, Amazon's Portland, Arizona, Indiana, Pennsylvania, Silicon Valley, Santa Clara , California, Santa Clara, Levi's, City, Santa, Oregon

☆ See the first piece of what promises to be the largest 3D map of the universe
▼ + stars: | 2024-10-23 | by ( Ashley Strickland | ) edition.cnn.com time to read: +6 min

One of Euclid’s primary goals is to observe dark matter and dark energy. While dark matter has never been detected, it is believed to make up 85% of the total matter in the universe. Meanwhile, dark energy is a mysterious force thought to play a role in the accelerating expansion of the universe. Rhodes is the US science lead for Euclid and principal investigator for NASA’s Euclid dark energy science team. “The images capture detail from clusters of stars near an individual galaxy to some of the largest structures in the universe.

Persons: ”, Valeria Pettorino, James Webb, Jason Rhodes, Rhodes, Euclid, Georges Lemaître, Edwin Hubble, Mike Seiffert Organizations: CNN, European Space Agency, Southern Hemisphere, ESA, International Astronautical, Jet Propulsion Laboratory, JPL, NASA Locations: Milan, Italy, Pasadena , California

☆ Russia pushes 'new world order' agenda as it hosts beefed-up BRICS summit
▼ + stars: | 2024-10-22 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

Russian President Vladimir Putin attends the BRICS Business Forum in Moscow, Russia October 18, 2024. Alexander Zemlianichenko | Via ReutersRussia is rolling out the red carpet to its geopolitical allies as it hosts the latest BRICS summit on Tuesday, pushing its agenda to create a "new world order" that challenges the West. Delegates listen on during the plenary session as Russian President Vladimir Putin delivers his remarks via video-link during the 2023 BRICS Summit at the Sandton Convention Centre in Johannesburg on August 23, 2023. "The countries in our association are essentially the drivers of global economic growth. Russian President Vladimir Putin (R) shakes hands with Iranian President Masoud Pezeshkian (L) during their meeting, October 11, 2024, in Ashgabat, Turkmenistan.

Persons: Vladimir Putin, Alexander Zemlianichenko, what's, Alet Pretorius, Putin, Michel Temer, Xi Jinping, Jacob Zuma, Narendra Modi, Wu Hong, Callum Fraser, Fraser, Russia's, Dmitry Peskov, Masoud Pezeshkian, Recep Tayyip Erdogan, Mahmoud Abbas, Antonio Guterres, It's, Masoud Organizations: Reuters, United Arab Emirates, America, U.S ., Afp, Getty, Tass, India's, CNBC, Royal United Services Institute, Global, Kremlin Locations: Moscow, Russia, Reuters Russia, Brazil, India, China, South Africa, Egypt, Ethiopia, Iran, Asia, Africa, U.S . Russian, U.S, West, Ukraine, Sandton, Johannesburg, South, Ashgabat, Turkmenistan, U.N

☆ The IMF just raised its growth forecast for the US economy this year — but expects a slowdown in 2025
▼ + stars: | 2024-10-22 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The International Monetary Fund raised its growth forecast for the US economy to 2.8% this year. AdvertisementThe International Monetary Fund raised its growth forecast for the US, projecting the world's largest economy would expand by 2.8% this year instead of the 2.6% it predicted in July. However, they predicted GDP growth would slow to 2.2% in 2025 as the US government curbs its spending and the labor market cools, sapping consumption. The IMF projected global growth of 3.2% in both 2024 and 2025, virtually unchanged from its previous prediction. They underscored their latest forecast for global growth over the next five years of 3.1% was "mediocre" compared with the pre-pandemic average.

Persons: — Organizations: Monetary Fund, IMF, Service, UN Locations: China, East, Central Asia, Africa, Asia

☆ Putin's expanded BRICS summit proves he has friends — but risks buckling under its own contradictions
▼ + stars: | 2024-10-22 | by ( Thibault Spirlet | Huileng Tan | ) www.businessinsider.com time to read: +6 min

AdvertisementRussia is flexing its muscles at the center of the BRICS economic bloc, which seeks to rival the West. Iran, Egypt, Ethiopia, and the United Arab Emirates are the new BRICS entrants, joining the earlier members Russia, India, China, Brazil, and South Africa. He said it had "no chance" of political unity given its members' competing interests and starkly differing attitudes. The greenback, though, will be hard to dethrone — even without competing priorities and rivalry among BRICS members. AdvertisementHe said that while BRICS members were united in a desire for change, "there's no real strategy within BRICS aside from fancy phrases to make it work."

Persons: —, Vladimir Putin, Abishur Prakash, Anton Barbashin, South Africa —, Barbashin, Una Aleksandra Berzina, Evgeny Roshchin, Johns Hopkins University's Henry A, Putin, SWIFT, Yakov Organizations: Service, West, United, South, Riddle Russia, Riga Stradins University's China Studies Center, Politico, Center for, Johns, Kissinger Center, Global Affairs, Partners, Bank for International Locations: Russia, Western, Iran, Egypt, Ethiopia, United Arab Emirates, India, China, Brazil, South Africa, Saudi Arabia, Russian, Toronto, —, Ukraine, standoffs, Moscow

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