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☆ Ukraine war latest updates: Putin hails military gains in Ukraine; Blinken warns of 'real problem' if Kyiv gets no extra funding
▼ + stars: | 2024-01-17 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Polish President Andrzej Duda told CNBC Tuesday that Ukraine's refusal to cede ground to Russia in any prospective peace talks was "perfectly understandable." "To me, as the president of Poland, it's perfectly understandable. He told CNBC that "all those voices who are saying that we probably should have some kind of political process, talks or discussions, they somehow don't hear what Mr. Putin is saying," Rinkēvičs told CNBC on Tuesday. When asked to comment on Sunday's talks, the Kremlin's Press Secretary Dmitry Peskov told CNBC, "We find these negotiations strange without our participation. Read more on the story here: 'Perfectly understandable': Russia's neighbors back Ukraine's refusal to negotiate on peace talks— Holly Ellyatt

Persons: Andrzej Duda, Duda, Volodymyr Zelenskyy, Vladimir Putin, CNBC's Steve Sedgwick, Latvia's, Edgars, Putin, Rinkēvičs, Sunday's, Dmitry Peskov, — Holly Ellyatt Organizations: CNBC, Economic, Kremlin's Locations: Russia, Davos, Poland

(AP) — With bipartisan support, a proposed Louisiana congressional map that would create a second majority-Black district sailed through the state Senate on Wednesday and will advance to the House chamber for debate. A second majority-Black district could also result in another Democratic seat in Congress. Officials have until Jan. 30 to pass new congressional boundaries with a second majority-minority district in Louisiana. A judge on the district court signaled that she will create a map by herself if lawmakers don't complete the task. On the Senate floor Wednesday, Democrats raised concerns that under the proposed map, the Black voting-age population in Carter's district would decrease to 51%.

Persons: “, Garret Graves, Graves, Glen Womack, Mike Johnson, Steve Scalise, Julia Letlow, Troy Carter Organizations: —, Democrats, Black, Democratic, U.S, Supreme, U.S ., Appeals, Fifth, Republicans, GOP, Republican U.S . Rep, U.S . Rep, Republican Locations: BATON ROUGE, La, Louisiana, Black, Congress . Louisiana, Alabama, Womack’s, New Orleans, Baton Rouge, Carter's

SEATTLE (AP) — Looking out at Lake Washington and the Cascade Mountains from his new football offices, Jedd Fisch saw a place that can consistently contend for championships. As the Huskies transition to the Big Ten and college football expands to a 12-team playoff, Fisch envisions a Washington program that’s perennially in the national mix. "Recruiting was first and foremost the number one consideration in who we were looking for.”At Washington, Fisch will immediately be tasked with putting his recruiting skills to use. “I loved my time at (Arizona),” Fisch said. ___AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football

Persons: Jedd Fisch, “, ” Fisch, Kalen DeBoer, Nick Saban, DeBoer, Fisch, that’s, —, Troy Dannen, Michael Penix Jr, returners, decommitted, “ I’m, ”, Chris Petersen, Jimmy Lake, Bill Belichick, Pete Carroll, Steve Spurrier, Brian Billick, Jim Harbaugh, “ He’s, ” Dannen, he’s, Dannen Organizations: SEATTLE, Huskies, Alabama, Big, SEC, Washington, Wildcats, Oklahoma, Alamo Bowl, ”, Heisman, NFL, —, University of Washington, AP Locations: Lake Washington, Seattle, Arizona, Washington, Alabama . Washington, Arizona’s, Alabama, DeBoer . Arizona

☆ Possible there will be no rate cuts this year, European Central Bank member says
▼ + stars: | 2024-01-15 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The European Central Bank may defy market expectations and hold off on starting interest rate cuts during the whole of 2024, the institution's Governing Council member Robert Holzmann said Monday. Asked about those who call for the first rate cut to take place as soon as April, Austria's central bank governor told CNBC, "I'm afraid, leaving Davos, those people will be deeply disappointed." Speaking to CNBC's Steve Sedgwick at the World Economic Forum in Davos, Switzerland, he added, "I cannot imagine that we'll talk about cuts yet, because we should not talk about it. "Unless we see a clear decline towards 2%, we won't be able to make any announcement at all when we're going to cut," Holzmann said. Correction: This story has been updated to reflect the name of CNBC anchor Steve Sedgwick.

Persons: Robert Holzmann, Steve Sedgwick, Holzmann, Yemen's Organizations: European Central Bank, CNBC, Economic, InTouch Capital Locations: Austria's, Davos, Switzerland, Israel

☆ We will never accept a frozen conflict, Yermak tells CNBC
▼ + stars: | 2024-01-15 | 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 EmailWe will never accept a frozen conflict, Yermak tells CNBCUkraine's presidential chief of staff Andriy Yermak responds to a question from CNBC's Steve Sedgwick on whether Ukraine was concerned by a lack of progress toward peace.

Persons: Andriy Yermak, Steve Sedgwick Organizations: CNBC Locations: Ukraine

☆ South African foreign minister discusses Hague case against Israel
▼ + stars: | 2024-01-15 | 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 EmailSouth African foreign minister discusses Hague case against IsraelSouth Africa's Finance Minister Enoch Godongwana tells CNBC's Steve Sedgwick there is support for the view that the case brought against Israel in the Hague is substantive.

Persons: Enoch Godongwana, Steve Sedgwick Organizations: Israel South Africa's Finance, Israel Locations: Hague

ATLANTA (AP) — Fulton County District Attorney Fani Willis on Sunday defended the qualifications of a special prosecutor she hired for her case against Donald Trump and others over efforts to overturn the 2020 election in Georgia after a defense lawyer accused Willis of professional impropriety. At the church, Willis did not address the allegations of an improper relationship. They are paid the same hourly rate and no one has questioned the qualifications of the two white lawyers, she said. Merchant's filing offered no proof of the alleged relationship or trips that she said that Willis and Wade had taken together. Pete Skandalakis, a former district attorney who is executive director of the Prosecuting Attorneys’ Council, said district attorneys do not have to seek permission before hiring a special prosecutor.

Persons: Fani Willis, Sunday, Donald Trump, Willis, Martin Luther King Jr, ”, Ashleigh Merchant, Michael Roman, Nathan Wade, Wade, Scott McAfee, Steve Sadow, King, King “, “, she's, ” Willis, “ I'm, ” Merchant, Merchant, Pete Skandalakis, McAfee Organizations: ATLANTA, Big Bethel AME Church, Trump, White, ’ Locations: Fulton County, Georgia, Big Bethel, Atlanta

☆ DA Fani Willis defends prosecutor she hired for Trump's Georgia election case amid allegations of an 'improper' relationship
▼ + stars: | 2024-01-14 | by ( Lloyd Lee | Associated Press | ) www.businessinsider.com time to read: +6 min

Fulton County DA Fani Willis was accused of having an "improper" relationship with a prosecutor. Willis appointed the prosecutor, Nathan Wade, to oversee the RICO case against Trump. The motion seeks to dismiss the indictment and disqualify Willis and Wade and their offices from further prosecuting the case. Willis said she hired three special prosecutors for the election case: a white man, a white woman, and a Black man. If Willis financially benefited from her relationship with Wade, that may be an ethics violation," he said.

Persons: Fani Willis, Willis, Nathan Wade, —, Sunday, Donald Trump, Martin Luther King Jr, Ashleigh Merchant, Michael Roman, Merchant, Wade, Fulton, Scott McAfee, Steve Sadow, King, she's, I'm, Pete Skandalakis, McAfee, Stephen Gillers, Trump Organizations: Fulton, Trump, Service, Big Bethel AME Church, White, New York Univerity Law School, Atlanta Locations: Fulton County, Georgia, Big Bethel, Atlanta, New York

AUSTIN, Texas (AP) — Texas' first Big 12 championship since 2009 and the program's first appearance in the College Football Playoff earned Longhorns coach Steve Sarkisian a four-year contract extension through 2030, the school announced Saturday. “Coach Sark is an incredible coach, a first-class person and tremendous leader of men," Board of Regents Chairman Kevin Eltife said. “Coach Sark has brought the pride and passion back in our program. His name had briefly surfaced as a candidate for the job at Alabama after Nick Saban retired earlier this week. But even before Saban retired, Texas athletic director Chris Del Conte had said the university was considering a raise and extension for Sarkisian.

Persons: Steve Sarkisian, it's, Sark, Kevin Eltife, Nick Saban, Saban, Chris Del Conte, ” Sarkisian, “ We've, ” Organizations: College Football Playoff, school's, Regents, ” Texas, Washington, Longhorns, Southeastern Conference, Texas, Alabama, Sarkisian, AP Locations: AUSTIN, Texas, ”

☆ These were the most traded stocks and options heading into Christmas, Interactive Brokers says
▼ + stars: | 2023-12-27 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Interactive Brokers on Tuesday compiled a list of its 25 most traded stocks and options between Dec. 18 and Dec. 22. They also put in more than 62,000 Tesla options orders. Other heavily traded stocks include Nvidia , crypto mining company Marathon Digital and Advanced Micro Devices . They also traded more than 32,000 Nvidia options orders, along with 14,694 for Marathon and over 16,000 for AMD. Clarification: This story has been updated to reflect the data refers to stock and options orders.

Persons: Steve Sosnick, Tesla, it's, Sosnick Organizations: Interactive, Nvidia, Marathon, Devices, Traders, AMD, Nasdaq, Dow Jones

☆ Liz Cheney says some Freedom Caucus members were 'upset' when she tweeted a photo of her father, Dick Cheney, wearing a mask at the height of the COVID-19 pandemic
▼ + stars: | 2023-12-05 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

Liz Cheney in her new book said some in the Freedom Caucus frowned on a personal June 2020 tweet. Cheney in the tweet featured her father, former Vice President Dick Cheney, wearing a mask. Mask-wearing became a polarizing subject among conservatives even during the height of the COVID-19 pandemic. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But as former Rep. Liz Cheney writes in her new book, "Oath and Honor," some members of the ultraconservative Freedom Caucus were upset when she tweeted out a photo of her father, former Vice President Dick Cheney, wearing a mask.

Persons: Liz Cheney, Cheney, Dick Cheney, —, qNNqcXzX62, hiUzrhytzs —, Donald Trump, Kevin McCarthy, Steve Scalise, Trump Organizations: Service, House Republican, hiUzrhytzs — CNN, Freedom Caucus, GOP Locations: Wyoming, United States

☆ Nvidia is the stock of the year. Can it last?
▼ + stars: | 2023-12-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

New York CNN —It would be an understatement to say that it’s been a good year for Nvidia. The California-based chipmaking giant has seen its shares soar about 220% this year, making it the top performing S&P 500 stock in 2023. What’s happening: Just before Thanksgiving, Nvidia crushed doubts that its star was fading by reporting gangbuster third quarter earnings. By Sosnick’s count, Nvidia executives mentioned AI at least 70 times on their most recent earnings call. Historically, Nvidia has had hard falls after missteps — between 2021 and 2022, shares of the stock fell by 66%.

Persons: Hannah de Wolf, Colette Kress, There’s, ”, Steve Sosnick, we’ve, Nvidia …, Dan Ives, Goldman Sachs, Piper Sandler, Harsh Kumar, Sarat Sethi, DCLA, Sethi, it’s, missteps, hasn’t, Matt Egan, Robert Jackson Jr, Joshua Mitts, “, Mitts, it’s “, ” Mitts, Jackson, Catherine Cortez Masto, Biden, Cortez Masto, “ I’m, Todd Young, Tim Kaine, Mark Warner, Rand Paul, Mitch McConnell, Bill Hagerty, Marsha Blackburn ,, Joe Manchin, Roger Marshall, Katie Britt Organizations: CNN Business, Bell, New York CNN, Nvidia, Revenue, Nvidia can’t, Washington Service, Interactive, CNBC, Columbia University, New York University, Israel, Fund, SEC, NYU, …, CNN, US, EU, Indiana Locations: New York, California, China, Wedbush, Israel, Gaza, Columbia, Nevada, American, Virginia, Kentucky, Tennessee, Marsha Blackburn , West Virginia, Joe Manchin , Kansas, Alaska

☆ Biden impeachment inquiry vote expected next week, House Republican leaders say
▼ + stars: | 2023-12-05 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

House Republican leaders expect to vote next week to formalize their impeachment inquiry into President Joe Biden, they said Tuesday. Even if the House were ultimately to vote to impeach Biden after an inquiry, the Democratic-controlled Senate would not vote to remove him from office. The real risk of a House impeachment is that it could distract the White House and put the president on defense ahead of an election year. The subpoenas are "illegitimate," the White House argues, since the House has not voted to formally authorize an impeachment inquiry. "The Republican House Majority has so far refused to take" that step, wrote White House counsel Richard Sauber in a letter Friday to House Oversight Chairman James Comer, R-Ky., and Judiciary Chairman Jim Jordan, R-Ohio.

Persons: Mike Johnson, Joe Biden, Biden, They're, they've, Johnson, Steve Scalise, Tom Emmer, Richard Sauber, James Comer, Jim Jordan, Kevin McCarthy, Hunter, Hunter Biden, Comer Organizations: Republican, U.S, Capitol, Washington , D.C, Democratic, Biden, National Archives, CNBC PRO Locations: Washington ,, Ky, Ohio

☆ Leaders at COP28 discuss energy security and the planned transition
▼ + stars: | 2023-12-04 | 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 EmailLeaders at COP28 discuss energy security and the planned transitionLeaders from various global nations speak to CNBC's Steve Sedgwick at the COP28 climate summit in Dubai.

Persons: Steve Sedgwick Locations: Dubai

☆ China's emissions targets not robust enough, U.S. energy chief says
▼ + stars: | 2023-12-04 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

watch nowChina's current emissions reduction targets are not as strong as they need to be, U.S. Deputy Secretary for Energy David Turk said Monday. Climate Action Tracker, an independent scientific review project, currently rates China's climate targets as "highly insufficient," and the U.S.'s as "insufficient." Another example of a tough question that needed addressing, Turk said, was on Scope 3 emissions — a measurement of direct and indirection emissions. "Many oil and gas companies, their Scope 3 emissions are 10 times Scope 1 and Scope 2 combined. watch nowOil and gas companies are currently "making an awful lot of profit," but only 1% of spending globally for clean energy is coming from oil and gas companies, he said.

Persons: Energy David Turk, Turk, CNBC's Steve Sedgwick, I've, that's, John Kerry Organizations: Energy, United Nations, U.S, Exxon, CNBC Locations: U.S, Paris, China

MP Materials (MP.N), Lynas Rare Earths (LYC.AX) and other Western rare earths companies have struggled at times to deploy it due to technical complexities and pollution concerns. "The existing rare earths refining process is a nightmare," said Isabel Barton, a mining and geological engineering professor at the University of Arizona. Fannon and several U.S. politicians have called for Western governments to create central rare earths processing hubs, a plan already being pursued by Canada. In Saskatchewan, government scientists are working to launch their own rare earths processing technology after attempts to buy Chinese technology sputtered in 2020. "These new sources for rare earths are going to be paramount if we're going to reach global net zero targets," said Steve Schoffstall of the Sprott Energy Transition Materials ETF (SETM.O), which holds shares in several rare earths companies.

Persons: Isabel Barton, Michael Schrider, Ucore, Luisa Moreno, REETec, Robert Fox, Frank Fannon, Mike Crabtree, Crabtree, Steve Schoffstall, Ernest Scheyder, Veronica Brown, Claudia Parsons Organizations: International Energy Agency, University of Arizona, U.S . Air Force, Pentagon, Defense Metals, U.S . Department of Energy's, U.S . Department of Energy's Idaho National Laboratory, Saskatchewan Research Council, SRC, Ucore, Reuters, Thomson Locations: ALEXANDRIA, Louisiana, China, United States, U.S, American, Alaska, of New Orleans, British Columbia, South Africa, Florida, Norway, Massachusetts, U.S . Department of Energy's Idaho, Wyoming, Canada, Saskatchewan

☆ Oil and gas are 'part of the solution,' not the problem, former BP chief says
▼ + stars: | 2023-12-03 | 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 EmailOil and gas are 'part of the solution,' not the problem, former BP chief saysOil and gas are "part of the solution," not the problem, BeyondNetZero Chairman John Browne, who once led BP, tells CNBC's Steve Sedgwick at COP28 in Dubai.

Persons: John Browne, Steve Sedgwick Organizations: Email, BP Locations: COP28, Dubai

☆ Exxon Mobil CEO urges COP28 to focus on reducing emissions — not phasing out fossil fuels
▼ + stars: | 2023-12-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

There's also an ongoing debate about whether an agreement should center on "abated" fossil fuels, which are trapped and stocked with carbon capture and storage technologies, or "unabated" fossil fuels, which are largely understood to be produced and used without substantial reductions in the amount of emitted greenhouse gases. "We cannot save a burning planet with a firehose of fossil fuels," Guterres said. "The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. Not everyone is on board with calls to phase out fossil fuels, however. An Exxon Mobil gas station in Washington, DC, US, on Tuesday, Nov. 28, 203.

Persons: Darren Woods, There's, Steve Sedgwick, Woods, U.N, António Guterres, Guterres, Phaseout, David Paul Morris, Exxon Mobil's Woods, Tengku Muhammad Taufik, I'm Organizations: UNITED, EMIRATES, Exxon Mobil, United Arab Emirates, United Arab, Exxon Mobil Corp, Economic Cooperation, APEC, Bloomberg, Getty Images Bloomberg, Getty, Exxon, Big Oil, Petronas, Natural Resources, Mobil Locations: Dubai, COP28, Russia, United Arab Emirates, Asia, San Francisco , California, San Francisco, China, UAE, Washington , DC

ARLINGTON, Texas (AP) — Quinn Ewers and the Texas Longhorns are leaving the Big 12 with bookend championships and still hoping for a chance at the College Football Playoff. Longhorns fans heartily booed and chanted “S-E-C!, S-E-C!” while Big 12 Commissioner Brett Yormark addressed the crowd before presenting the championship trophy to Ewers. It was the fourth Big 12 title for the Longhorns (12-1, No. 18 CFP) had won seven of eight games to get to its second Big 12 title game in three years. Murphy and Manning both took snaps on the final drive for Texas over the final 6 1/2 minutes against Oklahoma State.

Persons: — Quinn Ewers, “, Brett Yormark, Ewers, T’Vondre, Everybody’s, Steve Sarkisian, Sarkisian, ” Yormark, Keilan Robinson, it’s, Ollie Gordon II, CJ Baxter's, Alan Bowman, Rashod Owens, Gordon, Adonai Mitchell, Ja'Tavion Sanders, Mitchell, Sanders, Maalik Murphy, Arch Manning, Murphy, Manning, Bert Auburn's Big, ___ Organizations: Texas Longhorns, Big, College Football, Texas, Oklahoma State, Longhorns, Texas Tech, SEC, CFP, Alabama, Cowboys, Outland, WWE, T, Dallas Cowboys, AP Locations: ARLINGTON , Texas, Texas, Yormark, Oklahoma, Michigan, Ewers

☆ Rep. George Santos expelled from Congress for corruption, cutting GOP majority
▼ + stars: | 2023-12-01 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

Rep. George Santos (R-N.Y.) arrives to speak about the House Ethics Committee report and potential expulsion from Congress this week during a press conference outside on Capitol Hill on Thursday, Nov. 30, 2023, in Washington, DC. The House voted Friday to expel Rep. George Santos from Congress for his alleged finance crimes and his campaign lies, shrinking the GOP's already slim majority. Santos is the sixth House member in U.S. history to be booted from Congress, and the third since the Civil War. Former Democratic Rep. Tom Suozzi, who left the seat in New York's 3rd congressional district to run for governor, has already launched a campaign to take it back. The resolution, brought by Santos' fellow New York Republicans was the latest effort to boot the embattled 35-year-old freshman lawmaker.

Persons: George Santos, Santos, Kathy Hochul, Hochul, Tom Suozzi, Mike Johnson, Steve Scalise Organizations: The, Congress, New York Republican, Republicans, Democratic, Republican, New York Republicans Locations: Washington ,, York, New York's, Long

☆ Trump should not face trial in Georgia if he wins 2024 election, lawyer says
▼ + stars: | 2023-12-01 | by ( Andrew Goudsward | ) www.reuters.com time to read: +3 min

John David Mercer/Pool via REUTERS Acquire Licensing RightsWASHINGTON, Dec 1 (Reuters) - A lawyer for Donald Trump said on Friday that the former U.S. president should not face trial on charges that he sought to overturn the 2020 election results in the state of Georgia if he wins the election next year. Trump is the frontrunner for the Republican nomination to challenge Democratic President Joe Biden in the 2024 election. Sadow said that if Trump wins the election, he would seek to postpone the trial until after he left office, arguing that it would interfere with his responsibilities as president. Fulton County District Attorney Fani Willis last week requested the Georgia trial begin in August 2024, a timeline that would likely extend the proceedings through Election Day and into early 2025. “What would be the state's response that having this trial on Election Day is election interference?” Judge Scott McAfee asked prosecutors.

Persons: Steve Sadow, Donald Trump, Scott McAfee, Donald John Trump, John David Mercer, Steven Sadow, Trump, Joe Biden, Sadow, Sadow’s, Fani Willis, Nathan Wade, “, ” Trump, ” Sadow, McAfee, Andrew Goudsward, Scott Malone, Jonathan Oatis Organizations: REUTERS Acquire, Rights, Republican, Democratic, Trump, Thomson Locations: Superior Court, Fulton County, Georgia, Atlanta , Georgia, U.S

☆ EY CEO discusses the energy transition
▼ + stars: | 2023-12-01 | 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 EmailEY CEO discusses the energy transitionCarmine Di Sibio, Ernst and Young CEO, speaks to CNBC's Steve Sedgwick at COP28 in the United Arab Emirates.

Persons: Carmine Di Sibio, Ernst, Young, Steve Sedgwick Organizations: United Locations: COP28, United Arab Emirates

☆ Volvo Cars deputy CEO: We're doubling down on our climate action
▼ + stars: | 2023-12-01 | 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 EmailVolvo Cars deputy CEO: We're doubling down on our climate actionJavier Varela, deputy CEO of Volvo Cars, speaks to CNBC's Steve Sedgwick at COP28 in the United Arab Emirates.

Persons: Javier Varela, Steve Sedgwick Organizations: Volvo, United Locations: COP28, United Arab Emirates

☆ OpenAI investor Vinod Khosla, who's 68, says he still works 80 hours a week and plans to keep investing for the next 25 years
▼ + stars: | 2023-12-01 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

OpenAI investor Vinod Khosla said he still works 80 hours a week during an episode of "The Cerebral Valley Podcast." AdvertisementVinod Khosla, a Silicon Valley investor for almost 40 years, said in the past that he works 80-hour weeks. In 2004, he started his own VC firm he called Khosla Ventures, which backed companies like Instacart, Impossible Foods, and DoorDash. Over the last three months, Khosla Ventures has made multi-million dollar bets on startups in the beverage, insurance, and climate tech space, according to Pitchbook. AdvertisementKhosla didn't immediately respond to Business Insider's request for comment made through Khosla Ventures.

Persons: Vinod Khosla, —, Eric Newcomer, Khosla, Peter Thiel, I've, Warren, he's, Kleiner Perkins Caufield, Byers, toils, Elon Musk, Steve Squeri Organizations: Service, Khosla Ventures, Foods, Tesla, American Express, Financial Times Locations: Silicon, OpenAI

OTTAWA, Nov 30 (Reuters) - The Canadian economy unexpectedly contracted at an annualized rate of 1.1% in the third quarter, data showed on Thursday, avoiding a recession but showing growth stumbling ahead of next week's interest-rate decision. The economy avoided slipping into a technical recession - defined as two consecutive quarter-on-quarter contractions - because second-quarter GDP data was revised up to a 1.4% gain from an initial report of a 0.2% decline, Statistics Canada said. The BoC has remained on the sidelines since July after lifting its benchmark interest rate to a 22-year high of 5% to tame inflation. "The bottom line is that the economy is still sputtering along," said Royce Mendes, head of macro strategy at Desjardins Group. Real GDP most likely edged up 0.2% in October after a 0.1% gain in September, Statscan said.

Persons: Doug Porter, Royce Mendes, Bipan Rai, Statscan, Ismail Shakil, Steve Scherer, Dale Smith, Divya Rajagopal, Fergal Smith, Mark Porter Organizations: OTTAWA, Bank of Canada's, Statistics, BMO Capital Markets, Canadian, U.S ., BoC, Desjardins Group, Bank of Canada, Bank, CIBC Capital Markets, Thomson Locations: Canadian, Statistics Canada, North America, Ottawa, Toronto

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