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☆ USS Harder: Wreck of famed US Navy World War II sub found off the Philippines
▼ + stars: | 2024-05-24 | by ( Brad Lendon | ) edition.cnn.com time to read: +3 min

CNN —The wreck of one of the most storied US Navy submarines of World War II has been found in the South China Sea eight decades after its last patrol, the Navy’s History and Heritage Command said Thursday. “Harder was lost in the course of victory. U.S. Navy archive photo of USS Harder. The NHHC said the wreck of the Harder was confirmed by data provided by the Lost 52 Project, an effort led by Tim Taylor, CEO of Tiburon Subsea, to find the 52 US subs lost in World War II. Harder, which had the motto of “Hit ‘em Harder,” was captained by Cmdr.

Persons: Harder, “ Harder, ”, Samuel J, Cox, NHHC, Tim Taylor, NHHC’s Cox, Samuel Dealey, Dealey Organizations: CNN, Navy, South China, Heritage Command, US Navy, U.S . Navy, Harder, East, US, National, Honor Museum, Honor Locations: South, Philippine, Luzon, Philippines, Bataan, Japanese, Tiburon, Japan, East Indies, Southeast Asia

☆ Homes on billionaire hot spot Nantucket are falling into the ocean at an alarming rate — but the wealthy won't stop buying
▼ + stars: | 2024-05-24 | by ( Madeline Berg | Dan Latu | ) www.businessinsider.com time to read: +14 min

Over the past two centuries, Nantucket has gone from a whaling town to a hippie refuge to a holiday hot spot for billionaires. "To use a well-worn phrase, come hell or high water, people are still buying multimillion-dollar homes on Nantucket." Between 2030 and 2100, the number of structures exposed to coastal erosion is expected to go from 113 to 860. "Without erosion, this would be an extremely valuable area," Baxter Road resident Joshua Posner told BI. "It's not inexpensive, but it is worth doing," Posner told BI.

Persons: Steve Schwarzman, Eric Schmidt, Barry Sternlicht, Elizabeth Gibson, David L, Ryan, Bruce Percelay, Edward Sanford's, he'd, Percelay, Greg Mckechnie, you'd, Barry Sternlicht's, Suzanne Kreiter, Shelly Lockwood, who's, I'm, Joshua Posner, Jack Welch, Bill Belichick, —, Sanford, Lockwood, Nature, Yorker Brendan Maddigan, Maddigan, Mckechnie, Schwarzman, She's, Posner, he's, Helmut Weymar, Anne Atherton Organizations: Resilience, Business, Boston Globe, Getty, Estate, Nantucket, Coastal, Nantucket's Cisco, Cisco, Beach, Patriots, Yorker, Preservation Fund, Baxter, Conservation, Conservancy, The New York Times, Conservation Commission, Nature Locations: Nantucket, England, Cape Cod, Nantucket's, Madaket, Sconset, Brant, Baxter

☆ Tired, testy and fractured: The Supreme Court prepares for more drama
▼ + stars: | 2024-05-24 | by ( Joan Biskupic | ) edition.cnn.com time to read: +13 min

CNN —As Supreme Court justices try to resolve more than a dozen major cases over the next month, including whether Donald Trump must stand trial for election subversion, they appear mired in antagonism and distrust. Conservatives, who indeed hold the upper hand on the 6-3 court, nonetheless spike their writing and remarks with derision for the left. When the court majority allowed Louisiana state officials to use a map with a second majority-Black congressional district (over the protest of a GOP-backed group of White voters), the three liberals dissented. (A lower US court had referred to it as the “bleaching of African American voters” from the district.) Dissenting liberals emphasized that the decision reversing the lower court undercut a 2017 Supreme Court ruling, Cooper v. Harris, issued before the far-right majority took hold.

Persons: Donald Trump, Samuel Alito, Alito, Elena Kagan, Clarence Thomas, Ketanji Brown Jackson, John Roberts, Richard Nixon, Bill Clinton, Sonia Sotomayor, Kagan, Jackson, Blacks, Purcell, ’, Amy Coney Barrett, “, ” Barrett, Roberts, ” They, Bush, Feedback Kavanaugh, Gore, Cooper, Harris, ” Kagan, ” Alito, Joe Biden’s, Biden, Martha, Ann, ”, Alito tersely, Kagan’s, Edwin Kneedler, ” Roberts, Kneedler, Joshua Turner, Sotomayor, ” Sotomayor, Turner, interjected Organizations: CNN, Trump, Consumer Financial Protection Bureau, Liberal, GOP, White voters, Congress, Gore, South, American, Capitol, New York Times, US Justice Department Locations: America, Colorado, South Carolina, Carolina, Louisiana, Virginia, New Jersey, American, Alito’s, Jersey, Grants Pass , Oregon, Idaho, The Idaho

☆ The wreck of a legendary WWII US submarine has been found at the bottom of the South China Sea
▼ + stars: | 2024-05-24 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +4 min

Read previewResearchers say they have located the final resting place of one of the most storied vessels of World War II: the USS Harder. Lost 52 is headed by entrepreneur and ocean explorer Tim Taylor, along with diving entrepreneur Christine Dennison. A black-and-white image of the USS Harder on February 1944. The Lost 52 team has previously located at least six other US submarines. Finding the Harder "highlighted the importance of ocean data collection and the significance of underwater robotic technology," Taylor told BI.

Persons: —, Tim Taylor, Christine Dennison, Insider's Elias Chavez, Samuel Dealey, Harder, Samuel J, Cox, Taylor Organizations: Service, Heritage Command, Business, NHHC, Heritage, National Oceanic, Atmospheric Administration Locations: South China, Japan, Philippines, Dasol, Tiburon

☆ Japanese stocks are rallying this year. But one key group of investors is missing
▼ + stars: | 2024-05-24 | by ( Hakyung Kim | ) www.cnbc.com time to read: +6 min

Japanese stocks are enjoying a banner year, with foreign investors plowing into the market. Japanese investors are hesitant Japanese investors have long been skeptical of the local stock market after the asset price bubble burst in the early 1990s. Another reason Japanese investors may not be as keen on their domestic market could be the yen falling sharply. Outlook for Japanese stocks still strong Despite the recent bout of selling from local investors and the market's recent struggles, many global investors remain bullish on Japanese stocks. This is another "slow-moving but important tailwind to Japanese stocks," with more room to run, according to Zachary Hill, Horizon Investments head of portfolio management.

Persons: Goldman Sachs, Morgan Stanley, Kishida, Julian McManus, Janus Henderson, Bernstein, Zachary Hill, Raymond Chan, Chan, McManus, he's, Warren Buffett Organizations: Japan Exchange Group, Nikkei, Bank of Japan, U.S ., Ministry of Internal Affairs and Communications, Investment, Association, Prime, Nippon, Savings, U.S, Horizon Investments, Federal Reserve, Asia Pacific, Allianz Global Investors, Mitsui, Itochu, Sumitomo Locations: U.S, Japan, Asia

☆ Buthidaung: Fires rage as Rohingya caught up on the front lines of Myanmar’s civil war
▼ + stars: | 2024-05-23 | by ( Helen Regan | Avery Schmitz | ) edition.cnn.com time to read: +11 min

This satellite image shows Buthidaung, Myanmar, on January 17, 2024. © 2024 Maxar Technologies This satellite image shows Buthidaung, Myanmar, on May 18, 2024. This satellite image shows a damaged bridge in Buthidaung, Myanmar, on May 18, 2024. Warnings of further atrocitiesAn immediate concern is a humanitarian crisis in Rakhine state, with newly displaced residents unable to access food or clean water. The Myanmar military has blocked all access,” said Nay San Lwin.

Persons: Farooq, ”, Young, Volker Türk, Kyaw, –, Buthidaung –, “, John Quinley, Khaing, Lwin, Rohingya, Pan, Matthew Miller Organizations: CNN, Arakan Army, AA, Resource Management, Free Rohingya Coalition, International Court of Justice, Council, Myanmar, UN Human Rights Council, National Unity Government, Free Rohingya Coalition –, Maxar Technologies, “, ” CNN, Bangladesh, Labs, Medecins, Rakhine . State Department, Unity Government Locations: Myanmar’s, Myanmar, Rakhine, Arakan, Bangladesh, Buthidaung, Lwin, Indonesia, San Lwin, Rakhine State

☆ Does college still pay? Workers without a degree are doing better than they have in years, report finds
▼ + stars: | 2024-05-23 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowOutcomes for workers without a degree are improvingIn fact, young adults without a college degree are doing better than they have in years, according to Pew's analysis of government data. Since then, circumstances — and earnings — have continued to rise for workers with just a high school diploma or some college. Improving job opportunities for "new-collar" workers without a degree continues to drive more students away from college. Finishing college puts workers on track to earn a median of $2.8 million over their lifetimes, compared with $1.6 million if they only had a high school diploma, Georgetown's report found. Adults with at least a bachelor's degree report higher financial well-being than adults with lower levels of education, according to a Federal Reserve study on economic well-being of U.S. households.

Persons: Fry, —, Hafeez Lakhani, There's, Pew, Paul Steiner Organizations: Labor, Georgetown University Center, Education, Federal, College, ECMC Group, Virginia's Fairfax County Public Schools, Community Education Locations: New York, York, U.S, Virginia's Fairfax County

☆ Here are Thursday's biggest analyst calls: Nvidia, Tesla, Ford, Super Micro, Wendy's, Hasbro, Take-Two, Wynn & more
▼ + stars: | 2024-05-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Nvidia as buy Bank of America raised its price target on the stock to $1,320 per share from $1,100 following earnings. Deutsche Bank initiates Freshpet a buy Deutsche said it sees "multiple structural tailwinds" for shares of the pet food and health company. Deutsche Bank initiates BellRing Brands as buy Deutsche said it sees a long runway for growth for the food company. " Deutsche Bank initiates Legend Biotech as buy Deutsche said it's bullish on the biotech company's multiple myeloma drug Carvykti. Bank of America reiterates Super Micro Computer as buy Bank of America said Nvidia's earnings report on Wednesday bode well for companies like Super Micro.

Persons: Bernstein, Ford, Morgan Stanley downgrades NetEase, Morgan Stanley, Evercore, BRBR, Wedbush, Jefferies, GDRX, Oppenheimer, Armour, Kevin, Dell, Chubb, Stephens, FHN, Tesla, Argus, it's bullish, bode Organizations: " Bank of America, Nvidia, Bank of America, Deutsche Bank, Deutsche, BellRing Brands, JPMorgan, Hasbro, RBC, Norfolk Southern, NSC, GE Vernova, GE, UBS, Eastman Chemical, Eastman, SAP, underperform Bank of America, Berkshire Hathaway's, of America, Rockstar Games, NextEra Energy Partners, Argus, Wynn, Biotech, Computer Locations: U.S, China, Berkshire, Macau, Las Vegas, 2H24

☆ TJX jumps 4% to a new high after earnings — here's what investors love about the report
▼ + stars: | 2024-05-22 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. Executives also said they see further ability to grow because TJX is becoming an increasingly important channel for its vendors. In the quarter, TJX returned a total of $886 million to shareholders in the quarter, with $609 million coming via buybacks and another $377 in dividend payments. Full year sales guidance was revised lower by about $150 million at the midpoint due to foreign exchange dynamics. Comparable same store sales guidance was left unchanged.

Persons: Wednesday's, Ernie Herrman, TJX, Herrman, we're, HomeGoods, John Klinger, Klinger, Jim Cramer's, Jim Cramer, Jim, TJMaxx, Jeff Greenberg Organizations: TJX Companies, LSEG, TJX, Marshalls, Ross Stores, Burlington Stores, Consumers, Companies, TJX Canada, Management, CNBC, Universal, Getty Locations: Maxx, HomeGoods, U.S, buybacks, Canada, Florida, Port

☆ The Dow is set to surge 50% by 2030 as the 'roaring 20s' are alive and well for stocks, market vet says
▼ + stars: | 2024-05-22 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

With the stock market trading at record highs, the "Roaring 20s" thesis is alive and well. That's according to Ed Yardeni, who expects the Dow and S&P 500 to soar 50% by 2030. "That target could be achieved with a forward P/E of 20 and forward earnings at $400 per share," Yardeni said. AdvertisementWith stocks trading at record highs, the "Roaring 20's" bull thesis remains intact, according to market veteran Ed Yardeni. AdvertisementForward S&P 500 earnings per share hit $257.20 last week, and analysts currently estimate that S&P 500 EPS will rise to $278 in 2025 and $313 in 2026.

Persons: Ed Yardeni, Yardeni, —, Eric Wallerstein, Wallerstein Organizations: Dow, Service, Dow Jones Industrial, CNBC, Yardeni Research

☆ Here are Wednesday's biggest analyst calls: Nvidia, Meta, Tesla, Chipotle, Ferrari & more
▼ + stars: | 2024-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Wednesday's biggest calls on Wall Street: Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with its overweight rating on Tesla but says it's only a matter of time before others automakers begin to take advantage of AI also. Morgan Stanley reiterates Meta as overweight Morgan Stanley said that, as users adopt the company's Reels product it becomes a "monetization opportunity." Morgan Stanley reiterates Dell as a top pick Morgan Stanley said Dell remains a favorite name at the firm. Morgan Stanley reiterates McDonald's as overweight Morgan Stanley said it's standing by the fast-food chain. Morgan Stanley reiterates Ferrari as overweight Morgan Stanley said it's standing by its overweight rating on the automaker.

Persons: Morgan Stanley, Tesla, Piper Sandler, Piper, Meta, Dell, JMP, Oppenheimer, it's, Goldman Sachs, Goldman, Kraft Heinz, McDonald's, Rosenblatt, John Malone, Sportico, Morgan Stanley downgrades, Generac, Jefferies, Needham, Stryker, Ferrari, MSFT Organizations: GM, Ford, Nvidia, Blackwell, ODM, Lenovo, Dell, China Tech Hardware, Costco, " Bank of America, Bank of America, Kraft, Brunswick, UBS, Brunswick Corporation, Atlanta Braves Holdings, Deutsche Bank, Waste Management, Deutsche, Price, Jefferies, Prudential, Lincoln National, Microsoft, Garmin, of America Locations: Coinbase, Shopify

☆ Trump VP prospect Doug Burgum and GOP megadonor Harold Hamm are allies in business and politics
▼ + stars: | 2024-05-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +12 min

Continental Resources donated $1 million to the super PAC in April, according to Federal Election Commission records. A spokeswoman for both Continental Resources and Hamm, its executive chairman, did not respond to a request for comment. All seven wells have been active since 2011, just two years after Burgum's family signed an agreement with Continental Resources. The Burgum Farm Partnership LLP, which oversees the family farm land in Williams County and Cass County, is worth between $500,001 and $1 million, according to the financial disclosure. Doug Burgum is a managing partner of the Burgum Farm Partnership, and he signed the businesses' latest annual report in March.

Persons: Donald Trump, Doug Burgum, Vivek Ramaswamy, Jabin, Harold Hamm, Burgum, Theodore Roosevelt, Sen, Marco Rubio, Rubio, Trump, Hamm, Bradley Burgum, Mike Nowatzki, Nowatzki, Burgum's, He's, Barbara, Edward Hirs, Brandon Bell, Jack Balagia, Ryan Kellog, Kellog, Ted Borrego, —, Virginia Canter, Canter, Chip Somodevilla, he's, Kathryn, Dan Eberhart, Eberhart, Leah Millis Organizations: North Dakota Gov, Margate, Washington Post, Continental Resources, Trump White House, CNBC, Trump, Republican, Trump that's, Inc, Commission, Continental, Federal, North Dakota's Minerals Department, Drilling, LLP, University of Houston, Getty, University of Texas, Exxon Mobil, University of Chicago, University of Houston Law Center, Trump White, North, Canter . North, Burgum Locations: Laconia, NH, Hamm, North Dakota, Williams County, Burgum, Fla, Florida, Dakota, North, Brooklyn, Cass County, Fort Stockton , Texas, Washington, Canter ., Canter . North Dakota, Laconia , New Hampshire, Continental Resources . North Dakota, Pittsburgh , Pennsylvania, U.S

☆ Stock futures are little changed after Nasdaq Composite hits all-time high: Live updates
▼ + stars: | 2024-05-20 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Stock futures are near flat Monday night after the technology-heavy Nasdaq Composite closed at an all-time high. Dow Jones Industrial Average futures lost just 27 points, while S&P 500 futures also sat near its flatline. Those moves come after a mixed day on Wall Street. But the blue-chip Dow slipped almost 200 points, or 0.5%. Monday's action follows a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy.

Persons: Dow, Jamie Dimon, Keith Buchanan, Christopher Waller, Tom Barkin, Raphael Bostic Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones Industrial, Palo Alto Networks, LSEG, Nvidia, JPMorgan, Globalt Investments, Federal, Richmond Fed, Atlanta Fed, Traders

☆ Iran's President Raisi is dead. What does the leadership void mean for the country and the world?
▼ + stars: | 2024-05-20 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

The President of Islamic Republic of Iran Seyyed Ebrahim Raisi during the meeting with Secretary-General Antonio Guterres UN Headquarters. Lev Radin | Lightrocket | Getty ImagesThe sudden death of Iranian President Ebrahim Raisi in a helicopter crash plunges Tehran into fresh uncertainty at a time when it already faces deep economic decline, popular discontent, and war. The helicopter carrying President Raisi suffered a hard landing on Sunday while returning from Azerbaijan in poor weather conditions, Iranian state media reported on Monday. "That interim presidency ... [is] going to potentially pave the way for even more IRGC control over policies." "When it comes to the relationship with the U.S., and likely [with] Israel, nothing is really going to change there.

Persons: Islamic Republic of Iran Seyyed Ebrahim Raisi, Antonio Guterres, Lev Radin, Lightrocket, Ebrahim Raisi, Raisi, Hossein Amirabdollahian, Yemen's, Ayatollah Khamenei, Mohammed Mokhber, Nader Itayim, Itayim, Joe Biden Organizations: Islamic, Antonio Guterres UN, Iran's, Hamas, Hezbollah, Islamic Revolutionary Guard Corps, Iranian, Guardian Council, Argus Media, U.S, Palestinian Locations: Islamic Republic of Iran, Tehran, Azerbaijan, Lebanese, Iran, Mideast, Israel, U.S, Gaza

☆ Israeli political tensions boil over, revealing new danger for Netanyahu
▼ + stars: | 2024-05-19 | by ( Analysis Tim Lister | ) edition.cnn.com time to read: +7 min

CNN —Divisions and disagreements within the Israeli cabinet on the conduct and priorities of the war against Hamas have simmered since the onset of the crisis. That has been a red line for the religious right in the Israeli cabinet. Cabinet Minister Benny Gantz, pictured in October, is widely seen to be a leading contender to be the next Israeli leader. Over the next three weeks, compromise may yet keep the war cabinet intact. It would, however, leave the prime minister more exposed to the demands of far-right- members of his cabinet.

Persons: –, Benny Gantz, Mahmoud, Abbas, Gantz, Amir Levy, Benjamin Netanyahu, ” Gantz, Itamar Ben Gvir, Yair Lapid, Netanyahu, Ben Gvir, ”, Jack Guez, Yoav Gallant, “, “ Gantz, Anshel Pfeffer, ” Pfeffer, “ Bibi, …, Pfeffer, Gallant, Leo Correa, Bezalel Smotrich Organizations: CNN, Hamas, National Unity Party, Palestinian Authority, Israel, National, Getty, Sunday, Jerusalem Post, AP, Finance Locations: Gaza, “, Iran, Lebanon, Palestinian, Tel Aviv, AFP, Israel, Jerusalem

☆ When my son graduated high school, I was so ready for him to move out for college. I needed a break from parenting.
▼ + stars: | 2024-05-18 | by ( Melissa Drake | ) www.businessinsider.com time to read: +4 min

Because I was a single mom, we spent most of our time together. Of course, it came as a surprise to me and others when I was so excited for him to leave after high school graduation. After being a single mom for 16 years, I was spent and needed a break from parenting. AdvertisementI felt like a horrible mother, and I turned to an empty nest mom's Facebook group for support. We were both single moms with no living parents — only sons about to graduate from high school and a great desire to find peace and comfort in our lives.

Persons: he'd, couldn't, Laurie, — Organizations: Service, Business, Facebook Locations: Florida

☆ Nvidia’s earnings will be in focus next week as stocks try to sustain record levels
▼ + stars: | 2024-05-17 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The S & P 500 broke above 5,300, also for the first time. The S & P 500 has notched record close after record close in 2024. This quarter, the top-performing S & P 500 sector is utilities, higher by 9%, followed by communication services, up by 4%. The S & P 500 and Nasdaq Composite each closed out a fourth straight week of gains. Sustaining all-time highs Nvidia's earnings will also be a key catalyst at a time when technicians are watching to see whether stocks can sustain the record levels they reached this week.

Persons: what's, they're, Jay Woods, hadn't, Piper Sandler's Harsh Kumar, Kumar, Jensen Huang, Blackwell, Zachary Hill, Chris Zaccarelli, Zaccarelli, Woods, Katie Stockton, Stockton, TJX Cos, Raymond James Thursday, Ralph Lauren Friday, Nick Wells Organizations: Nvidia, Federal Reserve, Dow Jones, Freedom Capital, Dow, Nasdaq, Independent, Alto Networks, Devices, Target, Chicago, PMI, New, . Kansas City Fed, Intuit Locations: Stockton, . Kansas

☆ Siemens posts industrial profit drop as automation division slows
▼ + stars: | 2024-05-16 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

Karl-Josef Hildenbrand | Picture Alliance | Getty ImagesGerman technology giant Siemens on Thursday reported a drop in profit at its industrial business in the fiscal second quarter and said its automation division had slowed. The company's industrial profit came in at 2.51 billion euro ($2.73 billion) in the three months ending in March, down 2% from the same quarter last year. The figure was also below the company-compiled analyst forecast of 2.68 billion euro which was reported by Reuters. Net income fell to 2.2 billion euro in the three months to the end of March, down 38% year-on-year, while sales shed 1% to 19.16 billion euro. watch nowSiemens focuses on automation and digitalization and produces technology for a range of sectors such as transport and healthcare.

Persons: Karl, Josef Hildenbrand, Roland Busch, CNBC's Annette Weisbach, Busch Organizations: Getty, Siemens, Reuters Locations: Bavaria, Munich, London

Netflix's cheaper, ad-supported tier has amassed 40 million global monthly active users, the company said Wednesday. That's nearly double the 23 million figure the streaming giant shared in January. The company also said it would launch its own advertising platform and no longer partner with Microsoft for that technology. The tech giant will remain a programmatic advertising partner, but will also be joined by other ad tech companies including The Trade Desk, Google Display & Video 360 and Magnite. The streaming giant joined its media peers for the second time in making an annual pitch to lock in advertising for its platform.

Persons: That's, Ted Sarandos, Sarandos Organizations: Microsoft, Netflix, National Football League, CNBC, NFL Locations: Canada, U.S

☆ Dollar droops to one-month low vs euro before key CPI test
▼ + stars: | 2024-05-15 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, the new £10 note is seen alongside euro notes and U.S. dollar bills on Oct. 13, 2017 in Bath, England. The euro edged up 0.03% to $1.0823 in Asian trading hours, and earlier rose to $1.0828 for the first time since April 10. The dollar edged back 0.12% to 156.245 yen on Wednesday, but had pushed as high as 156.80 overnight. The dollar dropped 0.24% to 7.2232 yuan in offshore trading, after reaching the highest since May 1 at 7.2460 overnight. The New Zealand dollar climbed 0.37% to $0.6062, and earlier touched $0.6064 for the first time since April 10.

Persons: Alan Ruskin, Jerome Powell, Tony Sycamore, Joe Biden's Organizations: Reserve, U.S, Treasury, Deutsche Bank, Bank of Japan, CPI, IG, Australian, New Zealand Locations: Bath, England, U.S, China

☆ An elite hedge fund bought 1 million GameStop shares before the meme stock's 400% surge
▼ + stars: | 2024-05-15 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

A top hedge fund built a GameStop stake from scratch last quarter ahead of the meme stock's surge. Renaissance Technologies' 1 million shares were briefly worth $65 million at Tuesday's high. AdvertisementA world-beating hedge fund revealed it built a GameStop stake from scratch last quarter, making it a potential winner from the meme stock's explosive leap this week. Renaissance Technologies owned 1 million shares of the video-game retailer at the end of March, a position worth $13 million at the time, its first-quarter portfolio update shows. GameStop stock was up more than 400% at its Tuesday high, briefly valuing RenTech's stake at $65 million if still intact.

Persons: Jim Simons, — Organizations: GameStop, Technologies, AMC, Nvidia, Service, Renaissance Technologies, Business

☆ Opinion: How an ICC arrest of Netanyahu could play out
▼ + stars: | 2024-05-14 | by ( Opinion Dan Perry | ) edition.cnn.com time to read: +10 min

CNN —The signs are mounting that the International Criminal Court (ICC) is weighing an indictment against Israeli Prime Minister Benjamin Netanyahu and other top Israeli officials over Israel’s conduct of its war against Hamas in Gaza. But in 2015 the ICC stepped in to decide that implicitly it is, by accepting it — without consulting the Assembly of States Parties (ASP), representing ICC member states. Could the highly respected chief prosecutor, Britain’s Karim Khan, be feeling some pressure to play his part in ramping up the pressure on Netanyahu? Netanyahu is on the ropes politically and would almost certainly be trounced in an election held today. Israel desperately needs Netanyahu to be gone, as does the region and the world.

Persons: Dan Perry, Read, Benjamin Netanyahu, ”, Russia’s Vladimir Putin, Sudan’s Omar al, Bashir, Moammar Ghadhafi’s, Saif, Netanyahu, Israel’s, Jordan, Egypt —, Dan Perry Moreover, —, Britain’s Karim Khan, Joe Biden’s, Israel Organizations: London, Associated Press, CNN, Criminal Court, Israeli, ICC, West Bank, ISIS, UN, States Parties, West, The West Bank, Bank, Palestinian Authority Locations: Cairo, Europe, Africa, Israel, Gaza, United States, Jerusalem, Sudan, Britain, Iraq, al, Libya, Yemen, Palestine, Palestinian, West Bank, East Jerusalem, Egypt, ramping, Iran

☆ Opinion: Did Trump’s defense think this strategy would work on Cohen?
▼ + stars: | 2024-05-14 | by ( Opinion Norman Eisen | ) edition.cnn.com time to read: +8 min

CNN —The forceful direct examination of former Trump fixer-turned-star prosecution witness Michael Cohen concluded Tuesday in the Manhattan criminal trial of former President Donald Trump. But the cross was uneven and Cohen, like Stormy Daniels before him, held his own. Whether that will change in the days ahead remains to be seen, but in any event, the cross of Cohen got off to an inauspicious start. ), his anti-Trump podcast (showing bias, but Cohen owned it) and even selling anti-Trump merchandise (showing financial motive, but again failing to get a rise out of Cohen). However, even when Blanche confronted Cohen with his most inflammatory social media comments, such as calling Trump a “dictator douchebag” and a “Cheeto-dusted cartoon villain,” Cohen was utterly unfazed.

Persons: Michael Cohen, Donald Trump, Todd Blanche, Cohen, Stormy Daniels, Trump, Allen, Weisselberg, Daniels, Norm Eisen, Susan Hoffinger, ”, Hoffinger, “, Blanche, ” Cohen, Susan Necheles, Necheles, Judge Juan Merchan, douchebag ”, mercifully, Blanche’s Organizations: CNN, Trump fixer, Trump, Trump Organization, Trump “, Twitter Locations: Manhattan

☆ No, ChatGPT-4o isn't coming for your job. Yet.
▼ + stars: | 2024-05-14 | by ( Matthew Loh | Shubhangi Goel | ) www.businessinsider.com time to read: +6 min

Read previewOpenAI unveiled its latest ChatGPT tech on Monday, presenting a new voice mode that can show and detect emotion in a sophisticated, conversational style. They also cautioned that most people have been reacting to a tech demo, which can often be highly tailored and might not necessarily reflect the product's true capability. pic.twitter.com/ZncytI234K — Allen T (@Mr_AllenT) May 13, 2024OpenAI also showed potential adopters new use cases, such as translation and teaching services. AdvertisementThe new video camera and voice features do wonders for ChatGPT's potential in roles like customer support, van Rossum added. But it's going to be much more difficult for ChatGPT to take over customer support, teaching, or negotiation, Leong said.

Persons: —, Scarlett Johansson, OpenAI, — Allen, Mira Murati, ChatGPT, wpB6sGjA7E, Alex Kantrowitz, Siri, Alexa, Daan van Rossum, van Rossum, Leslie Teo, Teo, Ben Leong, it's, Leong, Simon Lucey, Lucey, We've Organizations: Service, Big, Business, AIs, Companies, Singapore, National University of Singapore, University of Adelaide's Australian Institute for Machine, Microsoft Locations: Big Tech, Singapore

☆ Andrey Belousov: Shifting his fishing buddy sideways, Putin chooses an economy expert for the war in Ukraine. Here’s why
▼ + stars: | 2024-05-13 | by ( Nathan Hodge | ) edition.cnn.com time to read: +6 min

Alexandra Prokopenko, a former adviser at Russia’s Central Bank, put the shakeup down to the growing interrelationship between the war and Russia’s economy. “Putin’s priority is war; war of attrition is won by economics,” Prokopenko wrote in a thread on X. Russia's President Vladimir Putin, center-right, with Sergei Shoigu, at Red Square for the Victory Day military parade in central Moscow on May 9, 2024. Putin has shifted Shoigu sideways to a post as the secretary of Russia’s Security Council, meaning that Shoigu is not completely out of the picture. Discussing Shoigu’s new appointment, Kremlin spokesperson Dmitry Peskov said the former defense minister would remain immersed in matters of military production.

Persons: Vladimir Putin’s, shakeup, Andrey Belousov, Sergei Shoigu, Alexandra Prokopenko, ” Prokopenko, Belousov, Vladimir Putin, Natalia Kolesnikova, Prokopenko, Pyotr Stolypin, Putin, Shoigu’s, Dmitry Peskov, Peskov, ” Peskov, General Valery Gerasimov, Nikolai Patrushev, Patrushev, Mikhail Mishustin, Dmitry Patrushev, “, ”, Tatiana Stanovaya Organizations: CNN, Kremlin, Russian Ministry of Defense, Russia’s Central Bank, Russia's, Victory Day, Getty, NATO, Putin, US Congress, Ministry of Defense, Security, Russia’s General Staff, subjugating, Security Council, Federal Security Service Locations: Ukraine, Russia, Moscow, AFP, Europe, Kyiv, Shoigu, Russian, Japan, Soviet Union, subjugating Ukraine, Patrushev

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