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☆ Intel and Commerce Department close to finalizing roughly $8 billion CHIPS Act grant, source says
▼ + stars: | 2024-11-25 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Chipmaker Intel and the CHIPS Act Office are close to finalizing a deal which would award the company a roughly $8 billion grant, according to a person familiar with the matter, as the Biden administration moves to dole out funds before President-elect Donald Trump's inauguration. The U.S. awarded Taiwan Semiconductor Manufacturing Co. a $6.6 billion grant earlier this month, raising investor expectations that cash funding for Intel would come soon. Intel has benefited from CHIPS Act tax breaks but has not yet received cash awards, something which Intel CEO Pat Gelsinger has expressed dissatisfaction with. "We're frustrated that hasn't moved faster," Gelsinger told CNBC in October, referring to the CHIPS Act grants. U.S. House Speaker Mike Johnson had previously said he might look to repeal the bipartisan CHIPS Act, but he then walked back those comments.

Persons: Biden, Donald Trump's, Intel's, Pat Gelsinger, hasn't, Gelsinger, They've, Mike Johnson, acquirers Organizations: Intel, Commerce Department, Department of Defense, Street Journal, The New York Times, U.S, Taiwan Semiconductor Manufacturing, CNBC, Qualcomm Locations: Intel's

☆ Qlik CEO: AI can't reach its full potential without strong foundational platforms
▼ + stars: | 2024-11-25 | 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 EmailQlik CEO: AI can't reach its full potential without strong foundational platformsMike Capone, CEO of Qlik, discusses the shift to AI for maximizing efficiency and the essential foundational platforms needed for success

Persons: Mike Capone

☆ Best Buy rallies ahead earnings, Black Friday — but here's why we're still cautious
▼ + stars: | 2024-11-25 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Best Buy shares rose roughly 4.5% on Monday ahead of the company's fiscal 2025 third-quarter earnings before Tuesday's opening bell. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m.

Persons: Jim Cramer, Stocks, Donald Trump's, Scott Bessent, Bessent, Jim, Bristol Myers, Eli Lilly, RJK, Jim Cramer's Organizations: CNBC, Dow Jones, Nasdaq, Bristol Myers Squibb, FDA, JPMorgan, Club, HHS, Research, Arm Holdings

☆ Banking sector 'doing a bit better than people believe,' strategist says
▼ + stars: | 2024-11-25 | 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 EmailBanking sector 'doing a bit better than people believe,' strategist saysNick Nelson, head of global equities strategy at Absolute Strategy, discusses the outlook in the European banking sector including potential mergers.

Persons: Nick Nelson Organizations: Banking

☆ YouTube's late CEO wrote a blog post about living with cancer weeks before her death. This was her 'most important lesson.'
▼ + stars: | 2024-11-25 | by ( Ana Altchek | Julia Pugachevsky | ) www.businessinsider.com time to read: +5 min

AdvertisementLate YouTube CEO Susan Wojcicki wrote a blog post weeks before her death about her cancer diagnosis. She was diagnosed in late 2022, with non-small cell lung cancer, the most common form of lung cancer. Women, whose highest cause of cancer death is lung cancer (as opposed to breast cancer) might also be unaware of the risk factors. Lung cancer research is underfundedSinghi said Wojcicki's blog post is an important rallying cry. It's "wild" to him that lung cancer is so under-researched, given that it's also the biggest cause of cancer death worldwide.

Persons: Susan Wojcicki, Wojcicki, Katie Williams, Dennis Troper, Larry Page, Sergey Brin, Eric Singhi, Singhi, Lung, it's Organizations: YouTube, Lung Cancer, Cancer, Environmental Defense Fund, American Lung Association

☆ Analyst Dan Clifton breaks down why the stock market rallied the way it did after the election
▼ + stars: | 2024-11-25 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

There's one key reason the U.S. stock market rallied after this month's presidential election, and it wasn't necessarily because of the outcome, according to Dan Clifton of Strategas. "What we saw was that the market was pricing in a 50-50 election. [Investors] didn't know who was going to win," Clifton, the firm's head of Washington policy research, told CNBC's Dominic Chu in this special Pro Talks discussion available to all readers. Instead, "we had it very clear … we knew [President-elect Donald Trump] was going to win," he said. (Pro subscribers can watch the full interview here .)

Persons: Dan Clifton, Clifton, CNBC's Dominic Chu, Donald Trump, Trump, gridlock — Organizations: CNBC, Republicans, Senate, CNBC Pro Locations: Strategas, Washington

☆ Uber and Lyft drivers say they're earning less — so some are starting their own ride services
▼ + stars: | 2024-11-25 | by ( Alex Bitter | ) www.businessinsider.com time to read: +6 min

AdvertisementSome Uber and Lyft drivers are starting businesses driving people they meet through the apps. Uber and Lyft drivers can make as little as $3 per ride, pushing some to look for alternatives. Brian is one of four drivers who told BI about starting his own business offering rides outside Uber and Lyft. When BI asked whether drivers are allowed to pitch their own businesses while on a trip for Uber, an Uber spokesperson said the app's drivers are independent contractors. The spokesperson also referenced company statistics showing that Uber drivers make more than $30 per hour "while active on the app."

Persons: Brian, Lyft, Uber, Torsten Kunert, YouTuber, Kunert, Phil Organizations: Business, Uber, Rideshare Services Locations: California, Ontario, Canada, San Diego

☆ The Philippines' vice president has publicly threatened to assassinate her boss and his wife
▼ + stars: | 2024-11-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Vice President Sara Duterte said on Saturday that she'd spoken to a hitman to kill her boss and his wife. Philippine Vice President Sara Duterte openly threatened on Saturday to assassinate the country's president, marking the deepest fracture yet in an alliance they once formed for the 2022 election. AdvertisementEduardo Año, national security advisor to the president, added that authorities considered Duterte's threat a "matter of national security." But she also blasted the national security council, saying that its responsibilities related to the safety of the country, not a vice president's remarks about a president. AdvertisementA partnership doomed from the startIn the Philippines, the vice president and president are elected separately and don't necessarily hail from the same party or ideology, though Duterte and Marcos positioned themselves as running mates.

Persons: Sara Duterte, Duterte, I've, Ferdinand, Bong Bong, Marcos, you'll, BBM, Liza Araneta, Martin Romualdez, Eduardo Año, Duterte's, Rodrigo Duterte, Ferdinand Marcos Sr, Ronald Holmes, gunning, —, Jorge Tigno, that's, Holmes, Tigno Organizations: of Representatives, voters, De La Salle University, of Education, Lawmakers, University of, Duterte, Senate, Business Locations: Philippines, Manila, China, Southeast

☆ Elon Musk floats buying MSNBC, but he’s not the only billionaire who may be interested
▼ + stars: | 2024-11-25 | by ( Brian Stelter | ) edition.cnn.com time to read: +6 min

Conventional wisdom holds that Musk — the world’s richest man and key Donald Trump ally — and his friends are just joking. But Musk’s posts are adding to the anxiety that MSNBC staffers are feeling about the reelection of Donald Trump and the recently announced spinoff of Comcast’s cable channels. I learned that more than one benevolent billionaire with liberal bonafides has already reached out to acquaintances at MSNBC to express interest in buying the cable channel. Instead, he is moving MSNBC and a half dozen other cable channels into “SpinCo,” a pure-play cable programming company. I have sensed quite a bit of enthusiasm at MSNBC about “SpinCo,” actually, because the new structure should allow for more investment into MSNBC, CNBC and the other brands.

Persons: CNN — Elon Musk, Donald Trump, —, bonafides, Brian Roberts, Benjamin Swinburne, Morgan Stanley, SpinCo, “, ”, Donald Trump , Jr, Joe Rogan, Rachel Maddow’s, Musk, Maddow, Mark Cuban, Trump, Matt Gaetz, Viktor Orbán’s “, Ian Bassin, ” Bassin, Gábor, Kamala Harris, Cuban Organizations: CNN, MSNBC, Twitter, Comcast, “, CNBC, Trump Jr, Former Florida, ” CNN, ”, Democracy, Politico Magazine, Fox Locations: Hungary

☆ Why Barclays is raising its 2025 S&P target
▼ + stars: | 2024-11-25 | 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 EmailWhy Barclays is raising its 2025 S&P targetVenu Krishna, Barclays head of U.S. equity strategy, joins CNBC's 'Money Movers' to discuss his outlook on the markets heading into 2025, potential headwinds for the markets next year, and more.

Persons: Venu Krishna Organizations: Barclays

☆ In the US, young and middle-aged women are being diagnosed with lung cancer at higher rates than men
▼ + stars: | 2024-11-25 | by ( Jacqueline Howard | ) edition.cnn.com time to read: +14 min

“Although lung cancer overall is decreasing because of declines in tobacco use, lung cancer among people who have never smoked has been rising significantly,” Wojcicki wrote in a YouTube blog that was posted Monday. A trend has emerged in the United States of more young and middle-age women being diagnosed with lung cancer at higher rates than men. 1 risk factor for lung cancer, many of these young women being diagnosed have never smoked. Although it remains unclear what exactly is driving this rise in lung cancer among young women, Yu has some ideas. Last year, US representatives introduced the Women and Lung Cancer Research and Preventative Services Act, which aims to commission more lung cancer research and would require the US Department of Health and Human Services to conduct an interagency review of the status of lung cancer in women, including identifying new opportunities for screening, diagnosis and treatment.

Persons: Susan Wojcicki, ” Wojcicki, “, ”, ” Mundin, ’, ‘ You’re, Jhalene Mundin, Helena Yu, Kara, Yu, I’m, ” Kara, “ I’m, ” Yu, Mundin, Alexander Drilon, ” Drilon, Drilon, Lung, …, it’s, Dr, Sanjay Gupta Organizations: CNN, YouTube, Memorial Sloan Kettering Cancer Center, Chicago Marathon, “, Lung Cancer Research, US Department of Health, Human Services, National Institutes, CNN Health, American Cancer Society, US Preventive Services Task Force Locations: “, United States, New Jersey, East, Taiwan

☆ Trump’s determination to install controversial picks faces next test
▼ + stars: | 2024-11-25 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

Gabbard and another contentious Trump pick — Pete Hegseth, who has been tapped to lead the Defense Department — came under sharpened scrutiny Sunday as the spotlight shifted from Matt Gaetz, Trump’s toppled choice to be attorney general. Trump’s pick of Hegseth is also facing uncertainty after the release last week of a 2017 police report detailing an alleged sexual assault in California. But the withdrawal of Gaetz — who was already widely disliked in Congress — may leave senators feeling they owe the president-elect on his other highly controversial choices. Trump’s new selection for attorney general, Pam Bondi, is meanwhile being welcomed by many Republicans, suggesting she’ll have an easier path to confirmation than Gaetz. But that would still leave the question of who is acceptable to Trump while being confirmable in the Senate.

Persons: Donald Trump’s, Tulsi Gabbard, Pete Hegseth, Defense Department —, Matt Gaetz, Trump’s, ” Democratic Sen, Tammy Duckworth, Bashar al, Assad, she’s, Republican Sen, Markwayne Mullin, Dana Bash, Duckworth, Gaetz —, Pam Bondi, general’s, ”, Russell Vought, Trump, Tesla, Elon Musk, Vivek Ramaswamy, Scott Bessent, Howard Lutnick, Cantor Fitzgerald, They’ll, Mike Waltz, ” Trump, Vladimir Putin’s, —, he’s, Julian Assange, Edward Snowden, Gabbard, ” Sen, Adam Schiff of California, Gabbard’s, Mullin, “, ” Missouri Sen, Eric Schmitt, Tennessee Sen, Bill Hagerty, she’d, Hagerty, ” Oklahoma’s, James Lankford, Bashar, Lankford, Bondi, We’re, ’ ” Lankford, Christopher Wray, Kash Patel, Patel, Trump’s MAGA, CNN’s Kaitlan Collins, ” Patel Organizations: CNN, Trump, Defense Department, CNN’s, Union, ” Democratic, Republican, Fox News, Justice Department, Management, GOP, Treasury, “ Fox, Florida Republican, Electoral College, Senate, Democratic, US, Transportation, Trump’s “, House Intelligence, Press, Oklahoma Republican, Army, ”, NBC, ABC, “, intel, CNN Bondi, of Justice, FBI, Fox Business, Department of Justice Locations: CNN’s “ State, The Illinois, Washington, California, Florida, Ukraine, Moscow, Russia, Hawaii, Syria, Russian, Duckworth, “ State, Oklahoma and Missouri, ” Missouri, Japan, United States, Lago

☆ The auto industry is pulling back on its ‘capital junkie’ tendencies after unprecedented spending on EVs, self-driving
▼ + stars: | 2024-11-25 | by ( Michael Wayland | ) www.cnbc.com time to read: +13 min

It's a "capital junkie" that's been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. The April 2015 report highlighted the industry's massive capital spending on overlapping or niche products that Marchionne was convinced could be solved through consolidation and shared capital spending. Most capital spending by automakers isn't wasted, but the industry isn't as efficient as other sectors, with minimal return on invested capital. Stock Chart Icon Stock chart icon Stocks of GM, Ford and Chrysler parent Stellantis in 2024. Courtesy: Business WireGM and Hyundai this summer entered into an agreement to explore "future collaboration across key strategic areas" in an effort to reduce capital spending and increase efficiencies.

Persons: bender, Morgan Stanley, Adam Jonas, It's, Sergio Marchionne, Marchionne, Sergio Marchionne Brendan McDermid, Jonas, Joe Hinrichs, isn't, We've, Rebecca Evans, Roland Berger, Ford, Peter Rawlinson, Andrew Kelly, Oliver Blume, Blume, Paul Jacobson, Jacobson, Rivian, RJ Scaringe, Mary Barra, Euisun Chung, codevelop, Stellantis, —, Carlos Tavares, Oliver Bunic Organizations: General Motors, Ford, Nissan Motor, Volkswagen Group, Chrysler, Companies, Research, GM, Volkswagen, Toyota Motor, Fiat, Rivian, Lucid, Fiat Chrysler, Reuters, Rivian Automotive, Hyundai Motor, Toyota, CSX Corp, Rehab, Nissan, CNBC, Lucid Motors, Nasdaq, Churchill Capital Corp, Reuters Volkswagen, VW, Honda, BMW, SAIC, Barclays, Saudi, Public Investment Fund, Hyundai, Detroit, French, PSA Groupe, Stellantis NV, Bloomberg, Getty Locations: Casa Grande , Arizona, Detroit, Japan, Germany, That's, New York City , New York, Europe, China, U.S, Kragujevac, Serbia

☆ Warren Buffett just shared his most detailed plan yet for his fortune when he dies
▼ + stars: | 2024-11-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +10 min

Courtesy of Susie Buffett Laila Buffett poses with her three children -- from left, Roberta, Warren and Doris. Courtesy of Susie Buffett Buffett teaches a class at the University of Nebraska-Omaha. Courtesy of Susie Buffett Buffett married his first wife, Susan, in 1952. Courtesy of Susie Buffett Buffett poses for a photo in 1980. Daniel Acker/Bloomberg/Getty Images Buffett attends the world premiere of "Becoming Warren Buffett," a documentary about his life, in 2017.

Persons: Washington CNN — Warren Buffett, outlive, ” Buffett, I’ve, ”, Buffett, — Susie, Howard, Peter Buffett, “, “ I’ve, Susan Thompson Buffett, Melinda Gates, Warren Buffett, Nati, Laila, Howard Buffett, Susie Buffett, Ernest, Susie Buffett Laila Buffett, Warren, Doris, Susie Buffett Warren Buffett, Susie Buffett Buffett, Susan, Peter, Lee Balterman, Salomon, Marcy Nighswander, AP Buffett, Buffett's, Mark Peterson, Curt Hudson, Arnold Schwarzenegger, Kathy Willens, Chris Machian, Dave Weaver, Michael Israel, John Sleezer, Bill Gates, Mario Tama, Barack Obama, Obama, doggedly, isn't, Jim Watson, Daniel Acker, Harry Benson, Getty Images Buffett, Astrid, David Cameron, Brendan Hoffman, Kristoffer Tripplaar, Alamy Buffett, Scott Eells, Chris, Franklin, Ndamukong Suh, Charlie Munger, Scott Olson, Huang Jihui, Jason Miller, Adam Jeffery, Hillary Clinton, Kempin, Forbes, Andy Kropa, Scott Morgan, Reuters Buffett, Andrew Harrer Organizations: Washington CNN, Berkshire Hathaway, Susan Thompson Buffett Foundation, Melinda Gates Foundation, Bloomberg, University of Nebraska -, Getty, Federal Reserve, AP, Omaha for Berkshire, California Gov, Wall Street, Schwarzenegger's, Kansas City Royals, Kansas City Star, Girl Scouts, Buffett, Microsoft, Getty Images, White, British, Woodrow Wilson High, Washington, Forbes, Harlem Globetrotters, Cleveland Cavaliers, Moon, NBA, CNBC, Reuters Locations: Omaha , Nebraska, Omaha, University of Nebraska - Omaha, Omaha for, Woodstock, Trenton , New Jersey, New York, AFP, Berkshire, Washington , DC, Illinois, Sun Valley , Idaho

☆ Rethinking the 4% rule in retirement
▼ + stars: | 2024-11-25 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

The most commonly recommended rule of thumb is the so-called 4% rule, which means you spend 4% of your portfolio every year, on an inflation-adjusted basis. When you die, your nest egg could be almost as large if not larger than it was on your first day of retirement. For example, Morningstar ran simulations on a $1 million portfolio over 30 years using the 4% rule. That’s because the rule is based on a very high probability that you never exhaust your nest egg. “It’s not just about getting employees to retirement but (helping them figure out) what to do once they’re in retirement,” Williams said.

Persons: you’d, William Bengen, Morningstar, ” Christine Benz, ”, Rob Williams, Charles Schwab, Williams, It’s, Mark Warshawsky, Warshawsky, Craig Copeland, “ It’s, ” Williams Organizations: CNN, Social Security, Social Security Administration, Social, American Enterprise Institute, American Council for, Research

In one instance he requested as much as $100,000 per month in exchange for his services, according to sources familiar with the matter. As of Monday afternoon, it does not appear the transition team will heed that recommendation. “I am honored to work for President Trump and with his team,” Epshteyn said in a statement to CNN. Trump’s legal team was investigating several other similar alleged incidents, according to sources familiar with the situation. “Boris is a Trump original—loyal and effective from the very beginning,” a Trump transition official told CNN.

Persons: Donald Trump, Boris Epshteyn, Trump, Epshteyn, “, ” Epshteyn, ”, elect’s, Boris, ” Trump, Steven Cheung, Scott Bessent, Bessent, Jonathan Drake, Susie Wiles, you’re, ’, “ He’s, “ Boris, President Trump, Matt Gaetz, Donald Trump's, Nathan Howard, Matt Gaetz’s, Gaetz, Elon Musk, Brandon Bell Organizations: CNN, Trump, Trump Make, Mar, Reuters, White, Gaetz, Department of Justice, Florida Rep, SpaceX, Georgetown Advisory Locations: Lago, Palm Beach , Florida, Epshteyn, Asheville , North Carolina, Washington, Washington ,, Florida, Brownsville , Texas, Georgetown, New York, Georgia, Arizona

☆ Bitcoin's march to $100,000 stalls. Here's what's keeping it below the milestone
▼ + stars: | 2024-11-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Bitcoin hit a new record high last week, with prices climbing above $99,000 for the first time. CNBC asked analysts for their take on why bitcoin has so far failed to breach the widely-watched $100,000 mark. "There's a ton of leverage in the system right now," Novogratz, a longtime crypto investor, told CNBC's "Squawk Box" on Friday. Novogratz added that he's advocating investors buy "straight bitcoin" rather than bitcoin-exposed plays, such as MicroStrategy which owns a huge, multi-billion-dollar pile of bitcoin in its corporate treasury reserves. Deutsche Bank's Laboure said she thinks the idea of a U.S. national bitcoin is still far off, practically speaking.

Persons: Fernando Gutierrez, Donald Trump, Trump's, hasn't, bitcoin, Andre Dragosch, Bitwise, Bitcoin, Dragosch, Novogratz, CNBC's, David Morrison, Morrison, Marion Laboure, Trump, Gary Gensler —, Deutsche Bank's Laboure, Laboure Organizations: Getty, CNBC, Galaxy Digital, Trade, Deutsche Bank, bitcoin, Trump, Securities, Exchange, Deutsche Locations: Juarez, Europe, U.S

☆ Inside 'Project Black Walnut' that sheds light on how Google thinks about Apple's ad business
▼ + stars: | 2024-11-25 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

AdvertisementApple, which avoided the ad business for years, might finally be getting serious about it. You can see how Google strategists are gaming out Apple's ad ambitions in a newly surfaced document. So, how big could Apple's ad business get? Apple's current ad business is mostly confined to selling ads on its App Store search results page. The rest of "Operation Black Walnut" is useful for anyone trying to imagine what an Apple ad business could look like if Apple decides to build one.

Persons: Apple, Amit P, Mehta, Apple hasn't, Jason Kint Organizations: Apple, Google, TAC

☆ This CEO says there's 'not much value' to job interviews. He prefers testing candidates instead.
▼ + stars: | 2024-11-25 | by ( Jaures Yip | ) www.businessinsider.com time to read: +4 min

AdvertisementDatabricks CEO Ali Ghodsi isn't the biggest fan of interviews and "gotcha questions." Ghodsi prefers to analyze candidates by testing them with a real challenge within the company. "I don't believe in interviews because I think some people interview well, and they might not be good at all," he said. "And some people interview really poorly, but they might be excellent." AdvertisementGhodsi is not the only executive who finds standard interview questions to be a lacking litmus test for potential hires.

Persons: Ali Ghodsi, Ghodsi, JP Morgan, Carla Hassan, Ali Ghodsi doesn't, Logan Bartlett, Jensen Huang, Huang Organizations: Nvidia

☆ An inside look at Treasury secretary nominee Scott Bessent's research process and 'competitive edge'
▼ + stars: | 2024-11-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

AdvertisementA 2017 presentation for macro investor Scott Bessent's hedge fund explains his research process and "edge." His firm, Key Square Capital, struggled to generate returns despite its strong pedigree. Bessent — the former righthand man for billionaire George Soros and now the nominee for Treasury secretary by President-elect Donald Trump — saw billions of dollars leave his firm, Key Square Capital, after its 2016 launch, Reuters reported. It's not clear if there have been any changes to the investment process in the seven years since the presentation was created. Advertisement"Key Square views its research process as a think tank that is bolted on to disciplined trading and risk management," one slide reads.

Persons: Scott Bessent's, Donald Trump, Bessent, George Soros, Donald Trump —, Soros, Jim Chanos Organizations: Key Square Capital, Reuters, Business, Associates, Key

☆ China is increasingly unnerved by Russia and North Korea's growing alliance, says top US official
▼ + stars: | 2024-11-25 | by ( Tom Porter | ) www.businessinsider.com time to read: +4 min

North Korea is providing crucial support to Russia in Ukraine, and is getting favors in return. China is increasingly concerned about the alliance between Kim Jong Un's North Korea and Vladimir Putin's Russia, according to Kurt Campbell, the US deputy secretary of state. AdvertisementMeanwhile, Russia is providing North Korea with economic and diplomatic support. "But the Chinese are waiting for an opportunity where North Korea, Russia, and China can come stronger together, and I think North Korea sending the troops to Russia is a testimony to that." The growing alliance between North Korea and Russia, he said, is a step toward that.

Persons: Kurt Campbell, Kim Jong, Vladimir Putin's, Putin, Campbell, Donald Trump, Ali Wyne, Jagannath Panda Organizations: Center for Strategic, International Studies, Guardian, Russia, Crisis, North, Stockholm Center, South, Pacific Affairs Locations: China, East Asia, North Korea, Russia, Ukraine, Vladimir Putin's Russia, Kursk, DPRK, Pyongyang, Moscow, Beijing, North, South Korea, Korea

☆ Starbucks forced to pay its baristas manually because of a ransomware attack on third-party software
▼ + stars: | 2024-11-25 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +2 min

CNN —A ransomware attack has disrupted a third-party software system that Starbucks uses to track and manage its baristas’ schedules, forcing the coffee chain to shift to manual mode to ensure its employees get paid properly, a Starbucks spokesperson said Monday. Starbucks’ store leadership have advised their employees on how to work around the outage manually, and the company will make sure everyone gets paid for all hours worked, according to Starbucks spokesperson Jaci Anderson. Starbucks joins a growing list of companies disrupted by the hack of Blue Yonder, an Arizona-based cloud services provider that serves grocery stores and Fortune 500 firms. The Wall Street Journal first reported that Starbucks was impacted by the Blue Yonder hack. A range of major multinational corporations use Blue Yonder cloud services to manage their supply chains.

Persons: Jaci Anderson, Ford, “ Ford, ”, Ian Thibodeau, CrowdStrike, Cybercriminals, Semperis, Brian Niccol Organizations: CNN, Starbucks, Street Journal, US Locations: Arizona, United Kingdom, United States, France, Germany

Six travelers have died from suspected methanol poisoning after visiting the tourist town of Vang Vieng, Laos, this month. A lack of knowledge about methanol poisoning, from the public as well as the medical communities where outbreaks often occur, exacerbates the problem, according to the organization. Where incidents are the highestMost incidents of methanol poisoning occur in Asia, according to Doctors Without Borders. A website by Doctors Without Borders that monitors methanol poisoning says many foreign tourists have fallen victim to methanol poisoning after consuming incorrectly distilled "arak" in Bali, Lombok and Gili Islands. In September, several people were poisoned by methanol in Indonesia after consuming alcohol ordered off the internet, according to the website.

Persons: Colin Ahaern, it's Organizations: Doctors Locations: Vang Vieng, Laos, Australia, Denmark, United Kingdom, United States, New Zealand, Asia, arak, Bali, Lombok, Gili, Indonesia, Iran

☆ Gold drops over 1% on profit-booking, Trump's Treasury Secretary pick
▼ + stars: | 2024-11-25 | by ( ) www.cnbc.com time to read: +2 min

Gold bar bullions ingot, selective focus, crisis safe haven for investment or reserve for country economics. Gold prices dropped over 1% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury Secretary. Spot gold fell 1.52% to $2,671.29 per ounce as of 0501 GMT, while U.S. gold futures shed 1.5% to $2,672.90. Gold's five-day rally pauses due to some profit-taking and Trump's pick of Scott Bessent as U.S. Treasury Secretary, hinting at tempered use of tariffs and easing U.S.-China trade uncertainty, said IG market strategist Yeap Jun Rong. Less dovish U.S. policy signals and potential inflation surprises could support a December rate hold, slowing rate cut prospects can be seen weighing on gold prices, Rong said.

Persons: Scott Bessent, Yeap Jun Rong, Donald Trump, Rong Organizations: Treasury, Federal, Traders Locations: China, U.S, Israel, Beirut, Tel Aviv

☆ Video platform Rumble plans to buy up to $20 million in bitcoin in new treasury strategy
▼ + stars: | 2024-11-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Rumble , a video platform aimed at conservatives, said Monday evening that it will begin allocating a portion of its excess cash reserves to bitcoin and making purchases of up to $20 million in the cryptocurrency. "We believe that the world is still in the early stages of the adoption of bitcoin," Rumble chairman and CEO Chris Pavlovski said in a statement Monday. The move puts Rumble in the same company as MicroStrategy, which began employing an aggressive bitcoin-buying strategy in 2020. Rumble is viewed as a play linked to Donald Trump's return to the White House given its popularity among conservatives. MicroStrategy chairman and bitcoin evangelist Michael Saylor said last week on an X Spaces event that he plans to pitch the board of Microsoft in December on his bitcoin treasury strategy.

Persons: Chris Pavlovski, MicroStrategy's, Donald Trump's, Cantor Fitzgerald, Howard Lutnick, Trump, Lutnick, Bitcoin, Michael Saylor, Sen, Cynthia Lummis Organizations: Semler, Acurx Pharmaceuticals, YouTube, . Commerce, Microsoft Locations: Wyoming

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