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☆ Russian air strikes put Kyiv in the dark
▼ + stars: | 2022-11-25 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

Russia knocked out electricity in the whole of the Kyiv region on Wednesday in missile strikes that pummeled energy facilities across Ukraine and caused blackouts in neighboring Moldova.

Aldrich, 22, had been in a hospital from early Sunday morning until Tuesday, before being transferred to El Paso County Jail in Colorado Springs. [1/7] Anderson Lee Aldrich, 22, the suspect in the mass shooting that killed five people and wounded 17 at an LGBTQ nightclub appears showing facial injuries in police booking photographs released in Colorado Springs, Colorado, U.S. November 23, 2022. Colorado Springs Police Department /Handout via REUTERS 1 2 3 4 5Defense lawyers declined to comment after the hearing. Police initially held Aldrich on arrest charges of five counts of first-degree murder and bias crimes stemming from the Saturday night killings. El Paso County District Attorney Michael Allen said after the hearing he expected to file formal criminal charges at the defendant's next court hearing, tentatively scheduled for Dec. 6.

☆ U.S. weekly jobless claims at 3-month high; equipment spending resilient
▼ + stars: | 2022-11-23 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

"While this could be interpreted as evidence of a softening labor market, we would caution against this. They were boosted by a 5,024 jump in California, likely reflecting the technology sector job cuts. Economists, however, did not expect the technology sector layoffs would be a major drag on the labor market and the overall economy. These so-called core capital goods orders decreased 0.8% in September. Shipments of core capital goods jumped 1.3% after dipping 0.1% in September.

Nov 22 (Reuters) - The suspect in the mass shooting that killed five people and wounded 17 at a Colorado Springs LGBTQ nightclub has been transferred to jail from the hospital where he was in police custody, police said on Tuesday. "CSPD has turned over custody of the Club Q suspect to the El Paso County Sheriff's Office at the jail," the Colorado Springs Police Department said on Twitter. Prosecutors said that once he was out of the hospital, they expected to file formal criminal charges that may differ. James, a Navy information systems technician second class, was injured in the Colorado Springs shooting and was hospitalized in stable condition Tuesday, the Navy said in a statement. James is an 11-year-Navy veteran stationed in Colorado Springs, the Navy said, asking that his privacy be respected.

The blasts at the Nord Stream pipeline in September were caused by an act of sabotage, Swedish prosecutors said Friday after evidence of explosives was discovered at the sites by investigators. In a statement, Mats Ljungqvist, the prosecutor leading the preliminary investigation, described the incident as “gross sabotage,” adding that “traces of explosives” were found at the scene. The preliminary investigation will continue and has yet to determine any charges, the statement said. Denmark last month said a preliminary investigation had shown they were caused by powerful explosions. Nord Stream pipelines 1 and 2 were created to funnel gas from Russia into the European Union, and were controversial long before Russia waged war on Ukraine.

☆ Vegan canapes and fat donations: How Sam Bankman-Fried won Washington before he lost everything
▼ + stars: | 2022-11-16 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Alex-Seitz-Wald-Circle-Byline-Template.Jpg | Alex Seitz-Wald | ) www.nbcnews.com time to read: +13 min

Everybody was trying to get in,” said one source close to the Bankman-Frieds’ political operation who requested anonymity to speak candidly. Attempts to contact Sam Bankman-Fried for this article were unsuccessful. Sam Bankman-Fried’s mentor and the spiritual leader of Effective Altruism has disowned him. Sam Bankman-Fried is a Democrat, and he spent at least $40 million supporting the party. Some of the biggest recipients of Bankman-Fried’s money did not respond to NBC News when asked about donations they received.

☆ Peter Thiel's VC firm just led a $40 million investment into the self-driving startup ISEE. Here's why it's betting on the little-known player as top firms struggle.
▼ + stars: | 2022-11-15 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Peter Thiel's venture-capital firm, Founders Fund, just led a $40 million raise for ISEE. CEO Yibiao Zhao told Insider the startup's first focus was software for trucks in logistics yards. Peter Thiel's venture-capital firm just led a $40 million investment into a little-known self-driving-tech startup whose founders plan to help solve the supply-chain crisis. The raise is sizable considering today's economic environment has seen less funding going toward mobility, including autonomous tech. "We don't build trucks," Zhao said.

☆ Premarket stocks: Crypto is in crisis. It's not just because of FTX
▼ + stars: | 2022-11-14 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —The stunning downfall of FTX, one of the largest cryptocurrency exchanges, sent shockwaves through the crypto universe last week. Sam Bankman-Fried, the 30-year-old crypto titan and chief executive of FTX, watched billions of his fortune evaporate in a bankruptcy filing that shook the trillion-dollar industry to its core. Those efforts mean capital is drying up – and that’s not just bad for crypto but other asset classes including stocks, too. Cryptocurrencies enjoyed huge injections of money during the pandemic era thanks to the Federal Reserve’s easy money policy. “In all, the slowdown in global money growth looks set to continue over the coming year, with some contraction looking likely in the US,” wrote JPMorgan strategist Nikolaos Panigirtzoglou in a note.

☆ Coinbase cuts jobs again as cryptocurrencies extend fall
▼ + stars: | 2022-11-10 | by ( ) www.reuters.com time to read: +1 min

The job cuts, the second time this year, follow a week after "crypto market headwinds" contributed to Coinbase's net loss of $544.6 million for the three months ended Sept. 30, compared to a profit of $406.1 million a year ago. read moreThe job cuts will help operate as efficiently as possible," the spokesperson said. In June, Coinbase cut 1,100 jobs, or 18% of its workforce, weeks after it said it would extend a hiring freeze and rescind a number of accepted offers. But the bigger blow to digital assets came since FTX showed early cracks. read moreReporting by Mehnaz Yasmin in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Coinbase pacifies investors worried about credit risk, exposure to FTX token - blog
▼ + stars: | 2022-11-08 | by ( ) www.reuters.com time to read: +2 min

Nov 8 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) assured investors of minimal exposure to privately-held rival FTX after concerns about the latter's financials dragged its digital coin FTT to its lowest since early 2021. "Coinbase and our customers are not in any direct danger of liquidity or credit risk," chief financial officer Alesia Haas wrote in a blog on Tuesday. "Regardless of whether the Binance/FTX transaction completes, we have very little exposure to FTX and we have no exposure to its token, FTT." FTX came into pressure when Changpeng Zhao, head of rival exchange Binance - the world's largest - said on Sunday his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations". Amid talk of pressure on FTX's financials, FTT lost one-third of its value and dragged down other major digital assets.

☆ Wall Street Journal: Mark Zuckerberg tells employees layoffs coming Wednesday
▼ + stars: | 2022-11-08 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

CNN Business —Meta CEO Mark Zuckerberg told company executives that major layoffs at the tech giant will begin on Wednesday morning, the Wall Street Journal reported Tuesday afternoon. Citing unnamed sources familiar with the matter, the Journal reported that the upcoming job cuts will likely impact many thousands of employees and mark the first broad headcount reductions in the company’s history. The reports of significant layoffs at Meta come as other tech companies have announced major job cuts. Last week, rideshare company Lyft said it was axing 13% of employees, and payment-processing firm Stripe said it was cutting 14% of its staff. Also last week, Twitter announced sweeping job cuts across the company after Elon Musk took the helm following his acquisition of the company for $44 billion, which required taking on significant debt.

☆ Alibaba’s Jack Ma and China’s super-rich see billions wiped off fortunes as economy slows
▼ + stars: | 2022-11-08 | by ( Story Reuters | ) edition.cnn.com time to read: +2 min

China’s super-rich saw their wealth tumble by the most in over two decades this year, as the Russia-Ukraine war, Beijing’s zero-Covid measures and falling mainland and Hong Kong stock markets pummeled fortunes, according to an annual rich list. Tencent founder Pony Ma posted the second largest drop in wealth amid sliding tech stock prices. The founder of TikTok owner ByteDance, Zhang Yiming, took second place, but saw his wealth fall 28% to $35 billion due to a drop in ByteDance’s valuation. Tencent (TCEHY) founder Pony Ma posted the second largest drop in wealth of $14.6 billion amid sliding tech stock prices, to take fifth place on the list. Alibaba (BABA) founder Jack Ma and his family tumbled four places to be ranked No.

☆ Self-driving cars were supposed to take over the road. What happened?
▼ + stars: | 2022-11-01 | by ( Matt Mcfarland | ) edition.cnn.com time to read: +8 min

Caitlin O'Hara/Bloomberg/Getty ImagesGeneral Motors bought a self-driving company in 2016. Big talk, smaller resultsUrmson, while leading Google’s self-driving car project before founding Aurora, talked of his preteen son never needing to get a driver’s license. A self-driving car, without a steering wheel or pedals, would have to be able to drive itself in literally every situation possible. “It’s really, really hard,” Waymo’s then-CEO John Krafcik said in 2018 of self-driving technology. Companies developing lidar, widely seen as a key component for self-driving vehicles, as well as self-driving companies, have seen their stocks plummet recently.

☆ British online furniture seller Made.com suspends trading amid last-ditch rescue talks
▼ + stars: | 2022-11-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

A view of a Made.com high street shop in central London on October 28, 2022 in London, England. Chris J Ratcliffe | Getty Images News | Getty ImagesLONDON — Millennial-oriented furniture retailer Made.com on Tuesday suspended trading of its shares on the London Stock Exchange, after failing to agree a rescue deal before a November deadline. However, customers also grumbled about long delivery times on some items, particularly as global supply chain issues intensified in 2021. Tough conditions"Customers are shying away from big-ticket items," said Sophie Lund-Yates, lead equity analyst at financial services firm Hargreaves Lansdown. "When the cost of living becomes untenable, buying expensive furniture is delayed, and that's exactly the pattern we've seen play out for Made.com."

"From a markets perspective, you have to be cautious going forward," said Michael O'Rourke, chief market strategist at JonesTrading. "They're the biggest stocks in the market, and we really haven't had much of anything good come out of any of them." The Fed has already raised rates by 300 basis points this year as it fights the worst inflation in decades. "The big technology companies like Amazon continued hiring to support a business that looks like the year 2021, and it's not 2021. Despite the big stock price drops, some investors see more pain for the big tech-focused names.

☆ Iranian Crackdown on Protests Imposes Economic Toll
▼ + stars: | 2022-10-20 | by ( Sune Engel Rasmussen | ) www.wsj.com time to read: 1 min

The Iranian government’s crackdown on the weekslong protest movement is taking a growing toll on the country’s sanctions-pummeled economy, hitting a broad swath of ordinary citizens, as authorities’ slowdown of the internet has choked vital payment channels for businesses. So far, Iran’s internet restrictions have cost the IT industry and businesses around $24 billion, according to a member of the Tehran Chamber of Commerce, Farzin Fardis, cited by the reformist-affiliated news outlet Entekhab. Mr. Fardis also said that over the past month, up to 700,000 shops selling goods through the social-media app Instagram had closed down.

☆ Global supply chain woes have seen 'huge improvement,' Flexport founder says
▼ + stars: | 2022-10-20 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Global supply chain woes have eased ahead of the holiday season, according to Flexport founder and co-CEO Ryan Petersen. Ports are less congested, and the cost of shipping goods has fallen significantly this year, Petersen said. The global supply chain was pummeled with high costs, lengthy delays, crowded ports and shipping container shortages during the coronavirus pandemic. Flexport helps its customers navigate supply chain challenges by providing them with more visibility and data-driven control over their inventories while they are in transit. But despite the improvements to the supply chain, Petersen is not convinced the industry has learned much from the challenges of the pandemic.

☆ Democrats hit Sen. Ron Johnson on Jan. 6 remarks in new Wisconsin Senate ad
▼ + stars: | 2022-10-19 | by ( Natasha Korecki | Natasha Korecki Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +3 min

Democrats are ramping up their attacks on Republican Sen. Ron Johnson of Wisconsin over his remarks downplaying the Jan. 6 riot with a new TV ad in the homestretch of the pivotal Senate race. The ad is paid for by the Senate Majority PAC — the Democrats’ main Senate super PAC — and End Citizens United, another political action committee. It’s also the first time Democrats have run a TV ad in the race highlighting Johnson’s remarks about the attack on the Capitol. Sen. Ron Johnson, R-Wis., at a Homeland Security and Governmental Affairs Committee hearing in Washington on Sept. 21. And yet you refused to investigate the deadly attack on our Capitol.”A digital ad earlier in the campaign also drew attention to Jan. 6.

☆ Frustrated Nigerians 'flee' abroad in punishing pre-election brain drain
▼ + stars: | 2022-10-18 | by ( Libgeorge Angela Ukomadu | Angela Ukomadu | ) www.reuters.com time to read: +3 min

Nwaogu, like hundreds of other Nigerians, left amid a brain drain that is punishing even for a nation used to losing its young and educated. "We have serious doubts if this is the time for that hope to blossom," he said before flying to the UK last month. "We are witnessing an epidemic of brain drain," said Dr Dare Godiya Ishaya, president of the Nigerian Association of Resident Doctors (NARD). But British government data showed a 300% increase in Nigerians getting UK work visas in the year to June, to 15,772. Register now for FREE unlimited access to Reuters.com RegisterReporting By Libby George; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

The breakdown occurred after Jackson was pummeled by days of heavy rain and the city’s main water treatment plant failed. In an interview on Monday, he said that withholding the funds Jackson needs to ensure safe drinking water puts lives at risk. “Mississippi is one of several states that absolutely rely on the generosity of the federal government,” Thompson said. More than 200 Jackson residents and supporters hold signs as they march to the governor's mansion to protest water issues in the city. Service was restored by the next week, and most Jackson residents no longer have to boil their water, but there are lingering concerns about water quality.

☆ Xi Jinping's Party Congress speech: yes to zero-Covid, no to market reforms?
▼ + stars: | 2022-10-17 | by ( Laura He | ) edition.cnn.com time to read: +6 min

Priorities presented at the political gathering of more than 2,000 party members will also set China’s trajectory for the next five years or even longer. In his speech Sunday, Xi struck a confident tone, highlighting China’s growing strength and rising influence under his first decade in power. China's President Xi Jinping speaks during the opening session of the 20th Chinese Communist Party's Congress at the Great Hall of the People in Beijing on October 16, 2022. And China’s economy is in bad shape. Meantime, a comparison between this year’s speech and the last one delivered by Xi in 2017 at the 19th party congress revealed a potentially worrying trend.

☆ China's economy is 'in deep trouble' as Xi heads to Communist Party congress
▼ + stars: | 2022-10-14 | by ( Laura He | ) edition.cnn.com time to read: +7 min

“Xi’s leadership is not causal for China’s economic rise,” said Sonja Opper, a professor at Bocconi University in Italy who studies China’s economy. Bloomberg/Getty ImagesThe International Monetary Fund recently cut its forecast for China’s growth to 3.2% this year, representing a sharp slowdown from 8.1% in 2021. Under Xi, China has not only become more insular, but has also seen the fraying of US-China relations. He is expected to secure an unprecedented third term in power at the Communist Party Congress that begins on Sunday. “Moreover, growth is not the only source of legitimacy and support for the Communist Party, and Xi has increasingly burnished the Communist Party’s nationalist credentials to appeal to patriotism as well as pocketbooks,” he added.

☆ Here’s our October rapid-fire update on all 34 stocks in Cramer’s Charitable Trust portfolio
▼ + stars: | 2022-10-13 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +13 min

Here's a rapid-fire update on every stock in the CNBC Investing Club portfolio. For Club members who are seeking income, we think a stock like Devon represents a better option than, say, AbbVie. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

☆ Electric vehicles will become power plants on wheels by providing backup power for homes and the grid
▼ + stars: | 2022-10-13 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

Electric vehicles in the coming years will be capable of powering homes and the grid. Backup power from EVs can help during storms and support electric grids strained by extreme weather. A new business unit, GM Energy, has a line of electric-vehicle chargers that can also feed power back to homes and the electric grid. "There's a value stack in EV batteries: supporting the grid, serving as backup power for your home, and also reducing greenhouse-gas emissions." The Ford F-150 Lightning also has bidirectional charging, which proved useful after Hurricane Ian pummeled southwest Florida's power grid.

☆ How Amazon’s big private-label business is growing and leaving small brands to protect against knockoffs
▼ + stars: | 2022-10-12 | by ( Katie Schoolov | ) www.cnbc.com time to read: +10 min

Peak Design CEO Peter Dering compares his company's Everyday Sling Bag to the Amazon private label version at his San Francisco headquarters on September 6, 2022. A selection of some of Amazon's 118+ private label brands as of October, 2022. Then there are specialty firms that only do private labels, and some store brands have their own devoted manufacturing facilities. By comparison, private labels make up a whopping 77% of Aldi's sales, followed by Trader Joe's at 59% and Wegmans at 49%. A variety of Amazon's private label goods are shown on September 29, 2022.

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