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☆ Gold and some non-dollar currencies start to shine, but it's not all about de-dollarization
▼ + stars: | 2024-08-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

AdvertisementThe amount of gold holdings in global reserves has doubled in just over five years, according to Bloomberg Intelligence analysis. "As the yellow metal carries no credit or counter-party risk, some deem it as being better insulated from financial sanctions, particularly those from the emerging world," wrote UBS' Czerwonko. Advertisement"The situation in competing jurisdictions is also dire; in the land of the blind, the one-eyed man can remain king," wrote Czerwonko. AdvertisementSimilarly, Bloomberg Intelligence said said a Wednesday report that a potential second Trump term could hasten a global currency regime change. "Any title toward isolationism in a Trump second term, such as altered US attitudes toward its role in NATO and international affairs would spur de-dollarization," wrote Bloomberg Intelligence analysts.

Persons: —, Alejo Czerwonko, Czerwonko, Trump Organizations: Service, UBS, Business, International Monetary Fund, Bloomberg Intelligence, Trump, NATO Locations: Ukraine, Moscow, Swiss, Americas

☆ Amazon CFO blames the Olympics and Trump assassination for slowing sales: 'Customers only have so much attention'
▼ + stars: | 2024-08-02 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewAmazon CFO Brian Olsavsky says the volatile news cycle is partly to blame for its lower than expected sales forecast for the quarter. "There's a lot of events that are occupying people's attention right now from political conventions to the election itself to the Olympics," he continued. "No matter what you're selling or providing, customers only have so much attention," Olsavsky said. In addition to issuing a weak revenue forecast, the company also said it missed sales estimates in the second quarter of 2024.

Persons: —, Brian Olsavsky, Journal's Sebastian Herrera, Olsavsky, Axios, King, Donald Trump's, hasn't, It's Organizations: Service, Business

☆ Photos capture the moment Americans released in a historic prisoner swap touch down on US soil
▼ + stars: | 2024-08-02 | by ( Sarah Gray | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe Wall Street Journal reporter Evan Gershkovich, former US Marine Paul Whelan, and Radio Free Europe/Radio Liberty journalist Alsu Kumasheva touched down at Joint Base Andrews on Thursday night. The trio were greeted by President Joe Biden and Vice President Kamala Harris after being freed from detention in Russia as part of a massive multi-country prisoner swap, the largest exchange in post-Soviet history. Former US Marine Paul Whelan was the first to disembark, where he was greeted by President Joe Biden and Vice President Kamala Harris. Evan Gershkovich hugging his mother Ella Milman after speaking to President Joe Biden and Vice President Kamala Harris.

Persons: —, Evan Gershkovich, Paul Whelan, Alsu Kumasheva, Joint Base Andrews, Joe Biden, Kamala Harris, Whelan, Whelan's, David, Whelan wasn't, Britney Griner, Paul, Former US Marine Paul Whelan, Andrew Harnik, Gershkovich, Ella Milman, Kurmasheva, Pavel Butorin, Bibi, Miriam, Kevin Mohatt Organizations: Service, Street, Radio Free, Radio Liberty, Joint Base, Business, Marine, CBS, Former US Marine, Getty, Reuters, Brooke Army Medical Center Locations: Radio Free Europe, Russia, American, San Antonio , Texas

☆ Biotech and more: Hold these growth stocks for the next 10 years, the pros say
▼ + stars: | 2024-08-02 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Growth stocks have been volatile, with tech names going through wild swings in recent weeks. On the whole, growth stocks are up this year, although they recently fell slightly. What are some of such stocks that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors who focus on growth stocks for some ideas. There are two segments in this business: original equipment and aftermarket, according to him.

Persons: Russell, TransDigm, Casey's, Janjigian Organizations: Nasdaq, . Federal Reserve, CNBC Pro, Waste Management, Republic Services Group, Carnegie Investment, Greenwich Wealth Management, U.S . Food, Drug Administration

☆ Elon Musk says a throwdown with Mark Zuckerberg would be a 'short fight' because the Meta CEO is a 'little fella'
▼ + stars: | 2024-08-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

The much-hyped cage fight between Elon Musk and Mark Zuckerberg didn't materialize last year. But Musk said it would've been a "short fight" if it had taken place. "Zuck is a little fella, so that would be a short fight lol," Musk said on Wednesday. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementElon Musk didn't get to fight Mark Zuckerberg last year, but he reckons it would have been a quick one if it had taken place.

Persons: Elon Musk, Mark Zuckerberg, Musk, would've, —, Elon, Nicolás Maduro's, Maduro Organizations: Elon, Service Locations: Venezuela

☆ TikTok's parent company just had a crazy case of food poisoning in Singapore that left their whole office smelling like vomit
▼ + stars: | 2024-08-01 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewTikTok parent company ByteDance's headquarters in Singapore were left smelling like vomit after a mass food poisoning incident on Tuesday. ByteDance had hired two food caterers — Yun Hai Yao and Pu Tien Services — to run each of the buffet lines. The Singapore Food Agency suspended one of Yun Hai Yao's branches and Pu Tien's catering kitchen on Wednesday. AdvertisementOver 100 individuals hit with food poisoningThe food left 130 individuals with gastroenteritis symptoms, the Singapore Food Agency and the country's health ministry said in a statement on Wednesday. Representatives for ByteDance, Pu Tien, and Yun Hai Yao didn't immediately respond to requests for comment from Business Insider.

Persons: —, Andre, ByteDance, Yun Hai Yao, Pu, Yun, Pu Tien, Yun Hai Yao didn't Organizations: Service, CNA, Business, Pu Tien Services, Singapore Food Agency, Singapore Civil Defence Force, Singaporean, The Straits Times, Bloomberg, Straits Times, Representatives Locations: Singapore

☆ Morgan Stanley says Nvidia's GPU cooling needs are a $4.8 billion opportunity, names stocks to benefit
▼ + stars: | 2024-08-01 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

"We believe liquid cooling solution for NVDA's GB200 server rack system in data centers can create a US$4.8bn [total addressable market] by 2027," it said. By enhancing thermal design power and more, such liquid cooling systems save between 10% and 15% on capital expenditure, according to Morgan Stanley. "Heat flow knowhow, precision requirements and time-to-market delivery are key winning factors in this space," said Morgan Stanley analysts. It said it likes Taiwanese firm Delta as it believes its liquid cooling solution will add an additional $280 million in AI cooling revenue in 2025. "Our supply chain checks suggest AVC is the reference design for cold plate for NVIDIA's GB200 server rack liquid cooling system," it added.

Persons: Morgan Stanley, Morgan, PUE, — CNBC's Michael Bloom Organizations: Stock, Companies, Schneider Electric, Delta Electronics, New, Nvidia Locations: Delta, New Taiwan

☆ The US is sending less natural gas to Europe, complicating Europe's plans to cut off Russian gas
▼ + stars: | 2024-08-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Read previewEurope has pledged to wean itself from Russian natural gas following Moscow's invasion of Ukraine, but it's still buying the fuel. Europe's monthly imports of Russian liquefied natural gas — the supercooled version of natural gas that can be transported on ships — have been holding relatively steady, in the 850,000 to 1.6 million metric ton range, since the invasion of Ukraine, per Bloomberg records. This continued import of Russian fuel shows the complications of cutting off Russian gas completely in the global energy market. AdvertisementBefore the invasion, Europe imported over 40% of its natural gas from Russia — its single largest supplier and a major energy producer — mainly via pipelines. At the end of January, Europe imported 5.2 million tons of LNG from the US and just 1.5 million tons from Russia.

Persons: —, Masanori Odaka Organizations: Service, Bloomberg, Business, Brookings, Reuters Locations: wean, Ukraine, Europe, Russia, Asia, North Asia, Japan

☆ JD Vance admitted in private that Biden getting swapped out for Harris was like a 'political sucker punch'
▼ + stars: | 2024-07-31 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

JD Vance was tapped for Trump's running mate when Joe Biden was the presumptive Democratic nominee. Vance privately told donors on Saturday that Harris' ascension felt like a "political sucker punch." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIn private, Sen. JD Vance of Ohio has been quite candid about the devastating impact the end of President Joe Biden's reelection campaign has caused to the GOP's electoral hopes for 2024. "All of us were hit with a little bit of a political sucker punch," Vance privately told donors during a fundraiser in Golden Valley, Minnesota on Saturday, per a recording obtained by The Washington Post.

Persons: Vance, Joe Biden, Kamala Harris, Harris, —, Sen, JD Vance, Joe Biden's Organizations: Democratic, Service, The Washington, Business Locations: Ohio, Golden Valley , Minnesota

☆ Podcast: Samsung bets on the Galaxy Ring and AI as its next big thing
▼ + stars: | 2024-07-31 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +42 min

Along with its S24 series of smartphones, foldable devices, smartwatches and now the Galaxy Ring, Samsung is hoping to lock users into its world of products held together with its suite of artificial intelligence features, known as Galaxy AI. Arjun KharpalOne of the things Samsung said was look, the ring is one product, but we've got the watch, we've got the smartphone. I think that's the right approach for Samsung, I don't think they have unrealistic expectations for volumes on this. And you'd feel like if there was some sort of Apple ring, it would do pretty good volumes. Do you think Samsung is seriously looking at ways to monetize this via subscriptions or other kinds of service business model?

Persons: aren't, Tom Chitty, Ben Wood, Meta's Ray, Arjun, Tom Chitty I've, I've, we've, Arjun Kharpal, let's, It's, That's, it's, you've, they've, there's, they're, someone's, I'm, that's, you'll, Ben Wood It's, smartwatch, Arjun Kharpal Apple's, Ben Wood They've, Tim Cook, He's, who'd, Tom Chitty Diamond, somebody's, who've, wasn't, Samsung hasn't, we'll, Ben, they'll, Will, wearables, Kharpal, Arjun Kharpal Tom, Tom, Tom Chitty We'll Organizations: Samsung, South, Galaxy, CNBC, CCS Insight, Mobile, Apple, Garmin, Apple Watch, U.S, Vision, Samsung Electronics, Google, MWC Locations: South Korean, Paris, France, beyondthevalley@cnbc.com, There's, Finland, London

☆ Brent tops $80 per barrel as oil analyst flags ‘phase of deterioration’ in the Middle East
▼ + stars: | 2024-07-31 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Brent futures topped the $80-per-barrel-threshold on Wednesday, as Iran's claim that Hamas political leader Ismail Haniyeh was assassinated reignited tensions in the Middle East. The Ice Brent contract with September expiry were trading at $80.32 per barrel at 09:45 a.m. London time, up by 2.15% from the Tuesday close price. Oil gained ground amid exacerbated hostilities in the oil-rich Middle East region, where Israel has been fighting Iran-backed Palestinian militant group Hamas since the latter's terror attack in October. The Jewish state's decision to carry out a retaliatory campaign in the Gaza Strip has since broadened the conflict, with Israel trading fire with other Iran-supported factions, such as Lebanon's Hezbollah and Yemen's Houthi. "But now we're moving into a phase of deterioration into the Middle East that we believe is going to capture oil traders' attention and get them to return some material risk premium into the price of Brent.

Persons: Brent, Ismail Haniyeh, Ice Brent, Yemen's, Israel, Ayatollah Ali Khamenei, Clay Seigle, Emily Tan Organizations: Ice, Hamas, Revolutionary Guard, Republic News Agency, CNBC, Israeli Ministry of Foreign Affairs, Minister's Office, Rapidan Energy Group Locations: London, Israel, Iran, Gaza, Tehran, Iran's, Ukraine, Brent

Read previewTop Hamas leader Ismail Haniyeh has been killed in Iran, according to a statement from Iran's Islamic Revolutionary Guards Corps early Wednesday. Haniyeh, 62, was the leader of Hamas' political wing. He had traveled to Tehran to attend the inauguration of Masoud Pezeshkian, Iran's new president, according to multiple reports. Khan collectively accused Haniyeh, Yahya Sinwar, Hamas' leader in Gaza, and Mohammed Deif, commander of Hamas' military wing, of war crimes and crimes of humanity on October 7. When contacted for comment on Iranian state media reports, the Israeli military told CNN they "don't respond to reports in the foreign media."

Persons: —, Ismail Haniyeh, Israel, Haniyeh, Masoud, Ayatollah Ali Khamenei, Benjamin Netanyahu, Israel's, Karim Khan, Khan, Yahya Sinwar, Mohammed Deif, Haniyeh's Organizations: Service, Islamic Revolutionary Guards Corps, Tasnim, Wednesday, New York Times, Associated Press, CNN, Business, Hamas, The Times, Criminal, Pentagon, Israel Defense Forces Locations: Iran, Tehran, Qatar, Israel, Gaza, Beirut, Golan

☆ Sanctions-hit Russia is rushing to set up payment systems, including crypto, to make trading easier
▼ + stars: | 2024-07-31 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewRussia is stepping up sanctions-evading measures to keep its international trade flowing. Russian central bank governor Elvira Nabiullina said the first transactions are expected by the end of this year, per Reuters. An existing ban on crypto payments in Russia remains, but Moscow's greenlighting crypto for international trade marks a significant shift. Russia could be eying a digital-currency-based settlement systemIt isn't clear how Russia's crypto and digital currency regimes will shape up. Even China, which has one of the world's most advanced digital currencies, relies on a "two-tier" system involving banks as wallet-holding agents.

Persons: —, Elvira Nabiullina, Nabiullina, Vladimir Putin, Moscow hasn't, Christopher Granville, Granville Organizations: Service, Russia's, Duma —, Reuters, Business, Bloomberg, US Treasury, GlobalData, Lombard, Russia Locations: Russian, Russia, Ukraine, cryptocurrencies, Hong Kong, Moscow, China, UAE, Turkey, Austria, India

☆ Forget Big Tech — stocks like these have the biggest upside potential in a volatile market, investor says
▼ + stars: | 2024-07-31 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

"A big tech stock reckoning and correction is inevitable," the chief investment officer told CNBC's " Street Signs Asia " on Tuesday. Calling the euphoria around Big Tech stocks this year "absurd," he said that such excessive investor sentiment and "overdone" momentum "always ends the same." "The biggest risk for the stock market right now is excessive valuations. Such sectors include health care, consumer staples, utilities, and the midstream part of the energy sector, according to him. "The consumers staples sector is being overlooked right now in the market as investors chase returns in the tech sector," he added.

Persons: David Bahnsen, CNBC's, Bahnsen, Mills Organizations: Big Tech, Electric, Gilead Sciences, Mills . American Electric Power, Food Locations: United States, Biopharmaceutical, Gilead

☆ Buy this 'cheap' REIT — it's set to offer a yield of nearly 7%, Morningstar says
▼ + stars: | 2024-07-30 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

It's commonly believed that assets related to real estate, such as REITs, benefit from lower interest rates. A lower interest rate environment also increases the attractiveness of this investment in terms of the higher rental income yield offered by real estate. The rate of office use is set to increase over time , which will in turn lead to a recovery in office real estate demand, he said. "A focus on technology and life sciences market clusters should benefit Kilroy in the long run as we expect buoyant growth in these areas. "The remote work dynamic is probably the biggest source of uncertainty for the office real estate industry.

Persons: Morningstar, Suryansh Sharma, Morningstar's, Dave Sekera, Kilroy, Sharma, Sekera Organizations: U.S . Federal, Kilroy Realty, Morningstar, Apple Locations: REITs, U.S

☆ China's trade with Russia is getting so difficult that payments can take half a year and most bank transfers are returned
▼ + stars: | 2024-07-30 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Trade between Russia and China is getting ever more difficult, with some payments between partners taking up to half a year, the Kommersant business daily reported on Monday. AdvertisementThe troubles started in December when the US authorized secondary sanctions targeting financial institutions that help Russia skirt sanctions. This prompted global banks from China to the UAE, Turkey, and Austria to reduce transactions with Russia to avoid getting in the crosshairs. Related storiesTo force Russia to halt its war, West blocked some Russian banks from the widely used SWIFT messaging system for payments early in the conflict. The continued business activity between the two countries sent trade between Russia and China to a record $240 billion last year.

Persons: —, China's, Moscow's, Andrei Kostin, Russia's Organizations: Kommersant, Service, Business, Bloomberg, US Treasury, Russia, VTB Bank Locations: Russia, China, UAE, Turkey, Austria, Moscow, Ukraine, Beijing, Russian, Hong Kong

☆ Pete Buttigieg, on Jon Stewart, is being really coy about the VP vetting process
▼ + stars: | 2024-07-30 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Pete Buttigieg is a strong contender to become Kamala Harris' vice presidential pick this November. But the transportation secretary has been remarkably tight-lipped on whether he's in the running. Notably, Buttigieg didn't rule himself out when he was asked by Jon Stewart on "The Daily Show." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementTransportation Secretary Pete Buttigieg has been remarkably tight-lipped about whether he's in the running to be Kamala Harris' vice presidential candidate — and he continued to be coy about his chances in his latest appearance on "The Daily Show."

Persons: Pete Buttigieg, Kamala Harris, Buttigieg, Jon Stewart, —, coy, She's Organizations: Service, Business

☆ In the age of AI, there's no future for workers content with being code monkeys — and they know it
▼ + stars: | 2024-07-30 | by ( Aditi Bharade | Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +7 min

"I think there will be a change in the way a software engineer works, and instead of five software engineers you might need four in future," she said. AdvertisementHe said that people who studied software engineering before the rise of AI tools have a stronger foundation because they have "written code from scratch." AdvertisementAn added that foundational knowledge in "algorithms, data structures, software engineering, and other critical areas" is essential for advancing AI technologies. David Malan, a computer science professor at Harvard, told BI that AI tools could be a plus for aspiring software engineers who know how to leverage them. Tejas Rajagopal, a recent computer science graduate from NTU, said he's been trying to expand his skillset to strengthen his chances of landing a job.

Persons: —, Arpita Kaushik, Aditya Swami, Hatcher, Swami, Kaushik, It's, hasn't, Adrian Goh, Goh, Kan Min Yen, Kan, Bo An, David Malan, Malan, he's, Rajagopal Organizations: Service, Google, Business, IBM, Rocket Mortgage, National University of Singapore, Nanyang Technological University, NTU, Harvard, Tejas Locations: Singapore, Hatcher, Asia

☆ Melinda French Gates says MacKenzie Scott, Jeff Bezos' ex, helped her with parenting kids that were raised 'down the street' from each other
▼ + stars: | 2024-07-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Read previewMelinda French Gates and MacKenzie Scott have a lot in common besides once having been married to a billionaire tech titan. French Gates revealed in an interview with The New York Times published Sunday that she and Scott share similar parenting styles. French Gates told The Times that she and her then-husband, Bill Gates, didn't want their children to grow up spoilt and entitled. Both French Gates and Scott have gone all in with their activism and philanthropy after divorcing their ex-husbands, Bill Gates and Jeff Bezos respectively. AdvertisementRepresentatives for French Gates and Scott did not immediately respond to requests for comment from Business Insider sent outside regular business hours.

Persons: —, Melinda French Gates, MacKenzie Scott, Gates, Scott, Bill Gates, didn't, French Gates, MacKenzie, It's, Jeff Bezos, I've, — Elon, Musk, Joe Biden, Kamala Harris, Biden Organizations: Service, The New York Times, Times, Business, The Times, Democratic, Business Insider Locations: French

☆ Here's how to trade the S&P 500 after the volatility, according to the pros
▼ + stars: | 2024-07-29 | by ( Weizhen Tan | ) www.cnbc.com time to read: +4 min

How can the S & P 500 be traded? Those losses continued on Thursday , with the S & P 500 closing at 5,399.22 and the Nasdaq finishing at 17,181.72. The S & P 500 lost 0.83% for the week, and the Nasdaq declined around 2% in the same period. "Then that's where maybe I'm looking to try and find some bargains here for people to sort of buy back into this market," Stutland said. Large over smalls, large over mids and U.S. over international within the large cap space," he told CNBC's " Squawk Box Asia " on Friday.

Persons: we've, Richard Clode, Janus Henderson, Paul Christopher, Christopher, Brian Stutland, CNBC's, Stutland, He's, smalls, We're Organizations: Nasdaq, Trump, Wells, Wells Fargo Investment Institute, Equity Armor Investments Locations: China, Wells Fargo, Friday's, —

☆ Asia's governments seem to think declining birth rates have to do just with dating and sex. That's not the full story.
▼ + stars: | 2024-07-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +9 min

AdvertisementDeclining birth rates have been a huge bugbear for Asian countries like Japan and South Korea. Vanessa LeeLee, who owns two dogs and a cat, said that governments may be overestimating the effectiveness of one-off interventions in bolstering birth rates. AdvertisementShe added that a shift in societal mindsets toward work and family needs to occur for her peers to consider having children. But it also doesn't guarantee that having sex brings children and that not having sex is the only reason why people are not having children," Gietel-Basten said. Low birth rates, according to HKUST's Gietel-Basten, are a "barometer of the challenges in society" and should thus be seen as "symptoms of problems in a society."

Persons: —, Vanessa Lee, Lee, Elon Musk, Paulin Straughan, Poh Lin Tan, Tan, Jonas Hue, Vanessa Lee Lee, It's, Emily Huang, Stuart Gietel, Basten, SMU's Straughan, Straughan, HKUST's, we're Organizations: Service, Business, Internal, Ministry, Asahi Shimbun, South, Singapore Management University, Singapore's Institute of Policy, Nordic, Hong Kong University of Science, Technology Locations: Singapore, Japan, South Korea, Korea, Tokyo, Seoul, Sweden, Finland, Hong Kong, Basten

☆ Some Russians are spending like no tomorrow with 'considerable' overheating in the economy
▼ + stars: | 2024-07-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

On Friday, the Russian central bank warned — yet again — of an overheating economy when it hiked rates from 16% to 18% in an attempt to rein in price gains. This suggests that overheating in the economy has remained considerable," said Elvira Nabiullina, Russia's central bank governor, on Friday during her rate hike announcement. Russians are traveling and spending on culture and hotelsThe rate hike from Russia's central bank comes amid a spending boom in the country where many appear to be spending very freely, even amid the war and Western sanctions, as the Financial Times reported on Friday. Russia's central bank may hike rates again if necessaryNabiullina said on Friday that Russia's GDP will grow 3.5% to 4% this year from a year ago. The central bank next meets on September 13.

Persons: —, Elvira Nabiullina, they're, Sergei Ishkov, Sawicki, Nabiullina, it's Organizations: Service, Business, Financial Times, Labour Locations: Russia, Russian, Russia's, Ukraine, Moscow, stoke

☆ How a second Trump administration might risk the investment case for green energy
▼ + stars: | 2024-07-27 | by ( Hakyung Kim | ) www.cnbc.com time to read: +9 min

For years, China ramped up green energy production capacity, becoming the global leader in renewable energy manufacturing, from solar to wind to battery. In a second Trump administration, prices for imports from China are likely to surge for green energy producers. The view is that First Solar will benefit the most within the U.S. solar sector from greater trade restrictions, according to Baird. Ultimately, that may curtail the number of green energy startups and private companies that want to go public, Schleif said. "It's been really hard to compete with Chinese companies in any way, shape or form."

Persons: Donald Trump, Trump, Biden, Baird, Ben Kallo, Green, Carol Schleif, Schleif, Joe Biden, Andy Poreda, Tobin Marcus, Wolfe, TAN, Morgan Stanley, Elon Musk's, Advisory's Poreda, Poreda, It's Organizations: P, BMO Family Office, Biden White, Sage Advisory, Republican, Senate, White, Wolfe Research, Republican National Convention, Biden, JPMorgan, Materials Corp Locations: China, U.S, North America, Albemarle

☆ Sam Altman, under fire from Elon Musk, has now offered his own vision of open-source AI
▼ + stars: | 2024-07-26 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI CEO Sam Altman has a vision for open-source AI, and it's not far from what the company's former cofounder, Elon Musk, has been asking for. But what's notable in Altman's proposal was how he highlighted the role open-source AI models could have in strengthening America's hold on the field. AdvertisementTo be sure, Musk also has some reservations about how open AI models should be. Advertisement"I believe that open source is necessary for a positive AI future," Zuckerberg wrote in a blog post on the same day. "There is an ongoing debate about the safety of open source AI models, and my view is that open source AI will be safer than the alternatives.

Persons: —, Sam Altman, it's, Elon Musk, Altman, Altman's, Musk, pummeling Altman, OpenAI, OpenAI's, Ilya Sutskever, Sutskever, Musk didn't, Mark Zuckerberg, Meta, Zuckerberg Organizations: Service, The Washington, Business, Google, Microsoft, OpenAI, Business Insider

☆ Beyond Novo and Eli Lilly: Watch these biotech and weight loss drug names, fund manager says
▼ + stars: | 2024-07-26 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Weight loss drugs have drawn investor interest and shaken up other sectors in the past year or so. Novo Nordisk and Eli Lilly were two early winners of this trend, as their drugs dominate the weight loss drug market. Yuri Khodjamirian, fund manager at Tema ETFs, said both companies are a "very powerful duopoly." They're a lot more risky than the bigger ones who already have drugs on the market," Khodjamirian said. Tema ETFs offers actively managed exchange-traded funds, with a focus on health care and life sciences.

Persons: Eli Lilly, Yuri Khodjamirian, Goldman Sachs, Khodjamirian, Roche Organizations: Novo Nordisk, Tema, CNBC, Zealand Pharma, Viking Therapeutics, Tema Oncology, Mental Health Locations: Tema

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