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☆ I drove Nissan's electric Ariya SUV — it proves that 13 years after the Leaf, the automaker can compete with Tesla
▼ + stars: | 2023-05-10 | by ( Tim Levin | ) www.businessinsider.com time to read: +7 min

The basicsThe 2023 Nissan Ariya Empower+ Tim Levin/InsiderThe Ariya landed in the US earlier this year with a starting retail price of $43,190. The 2023 Nissan Ariya Empower+ Tim Levin/InsiderThere's no bulky tunnel running down the middle of the vehicle. The 2023 Nissan Ariya Empower+ Tim Levin/InsiderThe quirks don't stop there. The 2023 Nissan Ariya Empower+ Tim Levin/InsiderHands-free driving isn't available across the board, but Nissan doesn't skimp on standard safety features. The 2023 Nissan Ariya Empower+ Tim Levin/InsiderNissan says the Ariya can charge from 20%-80% in 40 minutes using a sufficiently powerful fast charger.

☆ Mohamed El-Erian says the US is in the second stage of the banking turmoil – and lists 4 ways to avoid a 'significantly damaging' third phase.
▼ + stars: | 2023-05-10 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +3 min

Mohamed El-Erian said conditions in the US banking sector have stabilized, but more can be done to prevent further damage. The Allianz economic adviser listed four ways the US can avoid a "damaging" third phase of banking tumult. Indeed, it must if we are to avoid a third phase entailing considerably more financial and economic damage," El-Erian, president of Queen's College, Cambridge University, said. "This second phase can also be contained. "Doing so is necessary if the US is to avoid a third, and significantly more damaging, phase of the banking turmoil," El-Erian said.

☆ Here are 5 questions that are top of mind for investors as the S&P 500 wavers and the Fed enters its next policy phase
▼ + stars: | 2023-05-09 | by ( Carla Mozée | ) www.businessinsider.com time to read: +6 min

Barclays outlined the top questions investors are asking as the S&P 500 looks stuck in a tight trading range. The S&P 500 is likely to remain rangebound in the short-term, Krishna said. Tail risks aside, markets may be lulled into thinking hurdles - just as the current earnings recession – can be cleared in record time. That scenario tilts the balance of risk toward its base case of a shallow recession base case and an S&P 500 price target of 3,725. The S&P 500 during Tuesday's session was at 4,125.

☆ House Judiciary Chair threatens to hold Google in contempt of Congress for failing to produce subpoenaed documents
▼ + stars: | 2023-05-08 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

House Judiciary Committee Chair Jim Jordan, R-Ohio, threatened enforcement action against Google that could include holding the company in contempt of Congress for failing to produce documents the committee subpoenaed to learn about tech company communications with the Biden administration. Jordan requested the companies comply by March 23. Congress can hold individuals in contempt for refusing to provide information requested by a committee. Alphabet didn't assert that those redactions included privileged information, according to Jordan, and the committee requires unredacted documents to be handed over. But those documents have yet to include an "appreciable volume" of several types of communications the committee assumes Google would have.

☆ A 32-hour work week helped this company's employees juggle self-care, side hustles, pets, and parenting 'without feeling like they're going to be penalized'
▼ + stars: | 2023-05-07 | by ( Grace Mayer | ) www.businessinsider.com time to read: +4 min

4-day work week trials have found a shortened work week can improve employees' work-life balance. vChief says its 4-day work week helps employees juggle jobs as parents, self-care, and side hustles. Niebauer said that the 4-day work week has helped the company with employee retention, and they've also attracted over-qualified candidates for the company's roles. "Without feeling like they're going to be penalized for it, without feeling like they're going to look like they're distracted at work." "I really believe that people shouldn't live their lives for work," Niebauer said.

☆ Rocket builder Firefly takes on high-speed Space Force mission for crucial next launch
▼ + stars: | 2023-05-06 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +5 min

The Alpha rocket for the Space Force's Victus Nox mission stands on the launchpad at Vandenberg Space Force Base, California. The mission for the military's Los Angeles-based Space Safari team calls for flying a Millennium Space Systems-built satellite on Firefly Aerospace's Alpha rocket — on remarkably short notice. The Alpha rocket for the Space Force's Victus Nox mission stands on the launchpad at Vandenberg Space Force Base, California. Space Force selected Firefly and Millennium for the Victus Nox contract in October, setting off a chain of events starting with the build phase. Firefly's opportunitywatch nowFirefly originally planned to fly a NASA mission on its third Alpha rocket launch, after the company reached space with its second launch in October.

And so whenever I get one of those notifications, I know I’m going to have a good time there. kevin roose[LAUGHS]: I actually don’t think I could’ve told you what IBM stood for. kevin rooseSo I’ve thought a lot and written a lot about how and when AI actually is a threat to jobs. The third category is just the jobs that I think are going to be protected, the jobs that we won’t let AI do. But I don’t actually think the speed of it matters at all.

May 4 (Reuters) - Canada's Enbridge Inc (ENB.TO) said on Thursday it has reached a 7-1/2-year toll agreement with oil shippers for its Mainline crude pipeline system, one of North America's biggest, after scrapping earlier plans for long-term contracts. The agreement means that, if approved, Enbridge would continue to ration space on a monthly basis. Enbridge spent years trying to convince shippers and then the Canada Energy Regulator (CER) to sell space on the Mainline under long-term contracts. Some Canadian oil producers objected, while companies with refineries were in favor of contracts. The new agreement covers 70% of Mainline deliveries, with the remaining 30% covered by a pre-existing agreement.

WASHINGTON, May 4 (Reuters) - Philippines President Ferdinand Marcos Jr said on Thursday his agreement this year to grant the United States access to more military bases in his country was not intended for use for "offensive action" against any country. Speaking to a U.S. think-tank in Washington, Marcos said he had made that point to Chinese officials during recent talks. He also said the U.S. had not asked the Philippines to provide troops in case of war between China and the U.S. over Taiwan. Marcos told the Center for Strategic and International Studies that the 2014 Enhanced Defense Cooperation Agreement (EDCA) that allows access to bases in the Philippines was conceived to deal with the effects of climate change. Manila's ties with Washington have deepened under Marcos and he granted the U.S. military access to four more bases in February, something China said was "stoking the fire" of regional tension.

☆ A sustainable planet is possible with the help of cloud tech. Here's how an Asian partnership is working toward the future.
▼ + stars: | 2023-05-03 | by ( Sponsor Post | Created Insider Studios With Tata Communications | ) www.businessinsider.com time to read: +6 min

Alibaba Cloud, in partnership with Tata Communications, is developing digital solutions for a sustainable future. Alibaba Cloud's partnership with Tata Communications is built on a mutual understanding of the critical importance of sustainability for everyone. The partnership between Alibaba Cloud and Tata Communications has helped build a robust and elastic cloud infrastructure. "Seamless and intelligent hyperconnected ecosystems are how we power cloud giants like Alibaba Cloud to do what they do best." Together, Alibaba Cloud and Tata Communications are creating a futuristic vision for how businesses and people can live, work, and communicate.

☆ U.S. services sector grows steadily in April -ISM survey
▼ + stars: | 2023-05-03 | by ( ) www.reuters.com time to read: +3 min

The services sector is being supported by consumers shifting spending from goods, which are typically bought on credit. Services inflation remained strong. Services prices tend to be stickier and less responsive to interest rate increases. Some economists view the ISM services prices paid gauge as a good predictor of personal consumption expenditures (PCE) inflation. Services sector employment growth slowed further.

☆ How to know if your leadership style is more like Elon Musk or Steve Jobs — and what each of their strengths and weaknesses are
▼ + stars: | 2023-04-30 | by ( Christopher Myers | ) www.businessinsider.com time to read: +11 min

Isaiah Berlin, a prominent 20th-century philosopher and historian, popularized the foxes and hedgehogs metaphor in his 1953 essay "The Hedgehog and the Fox." By understanding this metaphor, modern business leaders can harness the strengths of both foxes and hedgehogs to navigate an increasingly complex and rapidly changing world. Leadership lessons from history: Xerxes and ThemistoclesExamining historical figures through the lens of the foxes and hedgehogs metaphor can provide valuable insights into the strengths and weaknesses of different leadership styles. Modern business titans: Steve Jobs and Elon MuskIn the world of technology and entrepreneurship, Steve Jobs and Elon Musk represent the quintessential hedgehog and fox, respectively. Isaiah Berlin's foxes and hedgehogs metaphor provides modern business leaders with a valuable framework for understanding and implementing effective leadership styles.

☆ Signature Bank failed because of ‘poor management,’ FDIC report finds
▼ + stars: | 2023-04-28 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —The collapse of Signature Bank was due to “poor management,” according to a report from the Federal Deposit Insurance Corporation released Friday. Bank management “did not always heed FDIC examiner concerns, and was not always responsive or timely in addressing FDIC supervisory recommendations,” the report said. Contagion effects from Silicon Valley Bank’s failure and Silvergate Bank’s self-liquidation, which occurred just days before Signature Bank was forced to close, helped ignite the run on deposits, the FDIC report stated. In particular, bank management did not fully understand the risks associated with accepting crypto deposits, which comprised more than 20% of its total deposits, the FDIC report said. The FDIC led the investigation into Signature Bank, a New York state-charted bank, since it was the primary regulator.

☆ Pope allows women to vote at upcoming bishops' meeting
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: +4 min

Pope Francis has decided to give women the right to vote at an upcoming meeting of bishops, a historic reform that reflects his hopes to give women greater decision-making responsibilities and laypeople more say in the life of the Catholic Church. Francis approved changes to the norms governing the Synod of Bishops, a Vatican body that gathers the world's bishops together for periodic meetings, following years of demands by women to have the right to vote. At the end of the meetings, the bishops vote on specific proposals and put them to the pope, who then produces a document taking their views into account. In addition, Francis has decided to appoint 70 non-bishop members of the synod and has asked that half of them be women. He has appointed several women to high-ranking Vatican positions, though no women head any of the major Vatican offices or departments, known as dicasteries.

☆ Opinion | What a Party Switch in North Carolina Means for Democrats
▼ + stars: | 2023-04-25 | by ( Tressie Mcmillan Cottom | ) www.nytimes.com time to read: +3 min

Her media tour on the subject is nonsensical and vague, though, by the most generous standards. She stutters about unspecified run-ins in public with mean constituents and unwelcoming Democrats, for instance. For a model on the choices before Cotham, one need look no further than conservative commentator Matt Walsh. Representative Graig Meyer of North Carolina had a more practical read of the changes in the state’s new balance of power. On Twitter, Meyer, a Democrat, laid out how much national abortion policy boxes in North Carolina Republicans.

☆ No 'immediate path forward': CFTC is talking to Binance after launching legal action, official says
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

A Commodity Futures Trading Commission official said Tuesday that she hopes to find a "path forward" in the regulator's legal battle with crypto exchange Binance, noting that no decision has been taken yet on whether to settle the case or take it to court. Kristin N. Johnson, commissioner at the CFTC, said that the regulator has been in conversations with Binance to address its concerns about the company's conduct. And I want to say that typically, in the context of any litigation, we are always ready to have conversations and typically even ahead of the litigation," Johnson said in an interview with CNBC's Arjun Kharpal Tuesday. "As of the moment, we can conclude that there is not an immediate path forward," she added. Her comments mark a rare statement on the Binance suit to media since the CFTC first announced it was suing the company on Mar.

☆ Tesla shareholder group complains Elon Musk is too distracted to run company
▼ + stars: | 2023-04-21 | by ( Chris Isidore | ) edition.cnn.com time to read: +3 min

New York CNN —A group of progressive Tesla shareholders want the company’s board of directors to make CEO Elon Musk concentrate more on one of his many jobs, that of running the EV automaker. In addition to his role at Tesla (TSLA), Musk also leads Twitter, SpaceX, the Boring Company, and Neuralink, among others. The letter says that the investors signing the letter own $1.5 billion worth of Tesla shares, which represents well less than 1% of Tesla shares. By comparison, Musk owns or has options to purchase about $118 billion worth of Tesla shares, representing 20% of the stock. “Tesla needs a board that will ensure that the CEO is focused on addressing its challenges,” said the letter.

☆ Tesla investors call for 'distracted' Elon Musk to be reined in as they worry he's 'overcommitted'
▼ + stars: | 2023-04-21 | by ( Grace Kay | Sam Tabahriti | ) www.businessinsider.com time to read: +5 min

Tesla investors called for Elon Musk to be reined in an open letter, citing the CEO's many commitments. A group of Tesla investors is calling for Elon Musk to be reined in, saying the CEO has been distracted by commitments to his other companies like Twitter. "The Board allowed the CEO to be overcommitted at a time when the company faces critical challenges," the letter stated. Tesla and Musk didn't immediately respond to requests for comment from Insider ahead of publication. Gerber's name is not listed on the open letter.

☆ Inspector General Says U.S. Aid May Be Flowing to the Taliban
▼ + stars: | 2023-04-19 | by ( Karoun Demirjian | ) www.nytimes.com time to read: +2 min

“We used to brief on a regular basis,” Mr. Sopko said of his prior engagements with the State Department, U.S.A.I.D. and the Pentagon, as he lamented a lack of access of records on what he said was over $8 billion in U.S. aid that had been provided to Afghanistan since the evacuation. “Since SIGAR’s inception, U.S.A.I.D. “We are frequently and regularly working with SIGAR on their requests.”A State Department spokesman said that U.S. reconstruction activities in Afghanistan — the centerpiece of Mr. Sopko’s jurisdiction — ceased after the Taliban took over the government in August 2021. The hearing had been billed as a venue to scrutinize the Biden administration’s actions during the withdrawal, a focus that the panel’s top Democrat, Representative Jamie Raskin of Maryland, criticized as “absurdly narrow.”

☆ Maserati's going electric while simultaneously reconnecting to its gas-powered past
▼ + stars: | 2023-04-19 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +5 min

Next year, Maserati will reveal a fully electric sedan for which they will be no gas-powered version at all. So does Ferrari, Maserati’s sister brand until a few years ago when it was spun off under its own stock symbol. The Maserati Grecale SUV has an aggressive driving feel. Now that the spinoff of Ferrari has left Maserati the company’s only ultra-luxury brand, Grasso feels more is expected, he said. “We can only be at ease when Maserati’s profitability is above Stellantis’s profitability,” he said.

☆ A New York woman lost all her belongings to a moving company scam. She got a $10,000 settlement, but is living with her parents and scraping together 5 part-time jobs to make ends meet.
▼ + stars: | 2023-04-19 | by ( Eliza Relman | ) www.businessinsider.com time to read: +8 min

The 45-year-old lactation consultant won about $10,000 by suing the moving company. There weren't a lot of options available when it came to moving companies, but she eventually found Gold Standard Relocation. Everything seemed normal on Wagner's moving day — until the movers didn't show up and the company wouldn't answer the phone. She'd already paid the moving company about $4,300 to transport and store more than 70 boxes of her things and many furniture pieces for six months. Fraudulent moving companies will often offer customers a low estimate and deposit price, and then demand additional exorbitant fees after taking their belongings hostage.

Investors may see rate cuts in the Fed's near future, part of a recession-breeds-accommodation view of the world, but "the labor market just seems very, very strong. The bulk of Fed policymakers as of March felt one more rate increase, which would raise the benchmark overnight interest rate to a range between 5.00% and 5.25%, was all that would be needed. Some policymakers and analysts worry it is those final steps that could push the economy into a recession. Reuters Graphics Reuters GraphicsLIMIT GUIDANCEGiven how inflation and the economy are behaving, Bullard said, the fewer promises made the better. Recession forecasts "are coming from models that put too much weight on the idea that interest rates went up quickly," Bullard said.

"Climate change is an existential risk and a risk to investor returns," said John Galloway, who oversees the Pennsylvania firm's engagement and proxy voting at portfolio companies, in an interview by teleconference. Galloway said in practice the proposal, which won 42% support, would have required a wholesale change to Valero's business, a decision best left to the board. "A proposal that’s asking a company to make a change that’s changing its strategy is not a proposal we're likely to support," Galloway said. U.S. Republican politicians applauded the move as responsive to their efforts to counter many companies' treatment of environmental, social and governance (ESG) matters. Galloway said the decision was driven with an eye on the varied views of its largely retail client base.

☆ Explainer: What is solid-fuel technology, and why is North Korea eager to develop it?
▼ + stars: | 2023-04-14 | by ( Hyonhee Shin | ) www.reuters.com time to read: +3 min

SEOUL, April 14 (Reuters) - North Korea says it has tested a new solid-fuel intercontinental ballistic missile (ICBM), its first known use of the propellant in a longer-range projectile, as it seeks the capability to launch with little preparation. Here are some characteristics of solid-fuel technology, and how it can help the North improve its missile systems. North Korea claims to have tested a new solid-fuel intercontinental ballistic missile (ICBM), the Hwasong-18WHO HAS THAT TECHNOLOGY? South Korea said on Friday it had already secured "efficient and advanced" solid-propellant ballistic missile technology. North Korea said the development of its new solid-fuel ICBM, the Hwasong-18, would "radically promote" its nuclear counterattack capability.

☆ Sudan's army says paramilitary mobilisation risks confrontation
▼ + stars: | 2023-04-13 | by ( Khalid Abdelaziz Nafisa Eltahir | ) www.reuters.com time to read: +4 min

"These movements and deployments happened without the agreement of the leadership of the armed forces or even coordination with it," the army spokesman said. Deputy head of Sudan's sovereign council General Mohamed Hamdan Dagalo speaks during a press conference at Rapid Support Forces head quarter in Khartoum, Sudan February 19, 2023. Witnesses told Reuters that they saw a convoy of RSF vehicles including armoured trucks enter Khartoum on Thursday. Political figures issued statements on Thursday about attempts to mediate between the RSF and army high command. Hemedti, who has amassed considerable wealth and expanded domestic and foreign relations, has said repeatedly in speeches that he wants no confrontation with the army.

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