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☆ Seems Like Elon Musk Wanted to Take Over OpenAI to Help Save Tesla
▼ + stars: | 2024-03-10 | by ( Linette Lopez | ) www.businessinsider.com time to read: +7 min

We know that the development process was running late and over budget, so Musk needed capital. We did not know he'd suggested that OpenAI raise $1 billion, merge with Tesla, and name him CEO. He's angry at OpenAI for giving other investors the opportunity to invest in a powerful company he wanted for himself. So now Musk is turning back to OpenAI, hoping the latest charmless offensive can help shore up his empire. If Musk indeed believed OpenAI needed him or Tesla to succeed, he was as belligerent about it as he was wrong.

Persons: Elon Musk, Tesla, Musk, he'd, OpenAI's, OpenAI, he's, Greg Brockman, Sam Altman, didn't, Brockman, It's, Altman, Tesla's Organizations: Tesla, Google, Facebook, Altman Locations: Shanghai, China, OpenAI

☆ China, Xi Jinping Plan to Crush Elon Musk, Tesla, and the US EV Industry
▼ + stars: | 2024-02-25 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

If China EV Inc. were allowed to enter the US today or next year, the legacies would be gutted." The year Musk tittered at the idea of Chinese EVs overtaking Tesla, the country produced only 5,000 electric cars. It has more trade barrier protection from a China Auto Inc. onslaught, but it may not work forever. AdvertisementWe want to maintain an auto industry in the US — that's essential for jobs, national security, and for other sectors of the economy. Sure, Chinese EV makers are lean and mean, but they've never had to deal with international markets before.

Persons: Elon Musk, Warren Buffett, Le, haven't, carmakers, Jim Farley, Tesla, Xi, Andy Wong, Xi Jinping, Li Auto, BYD, Trump, Mary Lovely, Joe Biden's, Biden, it's, Lovely, they've Organizations: Tesla, Bloomberg TV, America's, GM, Ford, Sino, EV, China EV Inc, ascendance, Chery, US, Chinese Communist Party, CCP, Companies, SAIC, Energy Department, China Auto Inc, Peterson Institute, United Auto Workers, White, Auto Locations: Chinese, China, Beijing, Japan, Europe, North America, Brussels, Washington, Hungary, Mexico, Canada, America

☆ Boeing Disaster Proves Americans Businesses Greedy Mentality Is Broken
▼ + stars: | 2024-02-11 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

They expose decades of American corporate philosophy gone awry. A good American company isn’t just a vehicle for financial returns; it is first and foremost an employer, a contributor to economic and/or technological innovation, and a source of US power. But it’s clear that what Boeing — and the entire American corporate body politic — needs is nothing short of a philosophical counterrevolution. Over these three decades of plenty for Boeing’s shareholders, the company’s staff was asked to penny-pinch. Boeing’s stock cratered, and France’s Airbus , a rival once colloquially known as “Scare Bus,” started to eat the American company’s lunch .

Persons: it’s, could’ve, William Lazonick, “, It’s, won’t, William McGee, T.A, Wilson, Frank Shrontz, Max, Peter Robison, —, ”, Dave Calhoun, we’ve, Scott Kirby, hasn’t, “ We’re, Lazonick, wasn’t, Milton Friedman, Michael Jensen, Jensen, nary, Jack Welch, Welch, Wall, ” Lazonick, We’ve, Mary Barra, ” McGee Organizations: Alaska Airlines, Boeing, Investments, University of Massachusetts, ”, NASA, Airbus, Alaska Airlines Max, Wall, United Airlines, Federal Aviation Administration, CNBC, Washington, University of Chicago, Electric, Wall Street, GE, Dow Jones, Securities and Exchange Commission, Reality Labs, Deutsche Bank, Business, General Motors, United Auto Workers, Companies, GM, & $ Locations: Washington, America

☆ Facebook is turning 20. Now Mark Zuckerberg is figuring out what comes next for Meta.
▼ + stars: | 2024-01-28 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewMark Zuckerberg has been steering the ship since he cofounded Facebook almost 20 years ago. Unlike some of the other founding fathers of major tech firms, the Meta CEO has not yet handed over the reins to someone else. This story is available exclusively to Business Insider subscribers. Meta didn't respond to a request for comment from Business Insider.

Persons: —, Mark Zuckerberg, Jeff Bezos, Larry Page, Zuckerberg, Josh Edelson, Linette Lopez, Andrew Bosworth, it's, It's, Bill Gates, Warren Buffett Organizations: Service, Facebook, Business, Meta, Getty, Bloomberg, Reality Labs, Microsoft, Berkshire Hathaway Locations: AFP, Berkshire

☆ China's rapidly dwindling future will shape the world for decades to come
▼ + stars: | 2024-01-21 | by ( Linette Lopez | ) www.businessinsider.com time to read: +14 min

Everything was getting bigger — its cultural influence, geopolitical ambition, population — and seemed poised to continue until the world was remade in China's image. But now China's economy is withering, and the future Beijing imagined is being cut down to size along with it. What Beijing does — or fails to do — to fight this malaise will determine the course of humanity for decades to come. China's deflation worries started in earnest in the summer. Years of overbuilding — by about double the population, according to some estimates — and slowing population growth caused prices to collapse .

Persons: Minxin Pei, there's, Charlene Chu, Autonomous Research Charlene Chu, Chu, Wei Yao, Générale, I'm, Ben Bernanke, Bernanke, Xi Jinping, Xie Huanchi, Société Générale's Yao, Yao, It's, —, aren't, Logan Wright, Wright, Xi doesn't, Jinping, it's, Xi, Claremont's Pei, magnanimity Organizations: Claremont McKenna College, Autonomous Research, Federal Reserve, Getty Images Japan, Chinese Communist Party, Xi, CCP Locations: China, Beijing, dauphin, Xinhua, Japan, Xi's China, East Asia, Taiwan, Europe

☆ Elon Musk started a price war that Tesla can't win
▼ + stars: | 2023-11-12 | by ( Linette Lopez | ) www.businessinsider.com time to read: +15 min

Elon Musk has started an electric-vehicle price war that Tesla can't finish. In April, Ford CEO Jim Farley said Tesla's cuts could start an unsustainable price war. If it slides back into the red because of its price cuts, expect investors to run in another direction. In China, Tesla's price cuts even sparked protests among owners who paid more for their vehicles. Waging price war during a downturn is a challenge unlike any Tesla has faced before.

Persons: Elon Musk, Tesla, Mark Schirmer, crumb, John Zhang, Musk, —, he's, hasn't, — it's, Frederic J . Brown, Ford, John Lawler, Schirmer, I've, it's, Jim Farley, Elon, Oliver Zipse, Zhang, they're, they'd, Zach Kirkhorn, Linette Lopez Organizations: Cox Automotive, —, Revenue, Wharton School, Ford, BMW, Getty, GM, Mercedes, EV, Hyundai Locations: AFP, China

☆ China's crackdown on Foxconn, one of Apple's biggest suppliers, shows Beijing is willing to sacrifice its economy for political power
▼ + stars: | 2023-10-25 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

China has launched investigations into Taiwan's Foxconn over its land use in mainland China. AdvertisementAdvertisementEven Foxconn, China's largest private-sector employer, isn't immune from Beijing's whims. Foxconn, also known as Hon Hai Precision Industry, is a huge contributor to China's employment and economic growth. Given how important Foxconn is to China's economy, it's a sign that Beijing is willing to make some sacrifices in its economy for political reasons, Liu said. China's economy is in tattersChina's economy has struggled to recover after nearly three years of on-off COVID-19 lockdowns.

Persons: —, Terry Gou, Foxconn, William Lai, KMT's Hou Yu, Ko Wen, Anna Ashton, Lai, China —, Gabriel Wildau, Zhu Fenglian, Dongshu Liu, Liu, they've, Insider's Linette Lopez, Xi, Lee Miller, Lopez, Liu Pengyu Organizations: Service, Hai Precision Industry, Apple, Democratic Progressive Party, ih, Taiwan People's Party, Eurasia Group, Gzero Media, KMT, Teneo Holdings, Bloomberg, Foxconn, Taiwan Affairs Office, City University of Hong, WPP, DC Locations: China, Beijing, Taiwan —, Taiwan, Taipei, New York, City University of Hong Kong, tatters, Washington, Foxconn

☆ The Great China Boom is going bust
▼ + stars: | 2023-10-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +18 min

Unless dramatic action is taken, the future of China's economy is looking less like a young dynamo and more like an old, slow-moving blob. AdvertisementAdvertisementChinese President Xi Jinping has shifted the country's priorities from economic growth to a "technology and national-security race with the US." A faltering Chinese economy will suppress demand for commodities like oil seeds and grain, hitting US farmers especially hard. For the US economy, China as a workshop is much more important than China as a consumer. Now that China's economic supercycle is over, that may be the cycle we're about to witness.

Persons: We've, Xi Jinping, Lee Miller, it's, Xi's, —, Xu Jiayin, Charlene Chu, Chu, Chu —, Victor Shih, Shih, that's, they're, Zhang, Beijing's largess, Miller, It's, they'll, Chinese Communist Party that's, Anne Stevenson, Yang, isn't, Stevenson, Linette Lopez Organizations: Chinese Communist Party, CCP, Trust, Autonomous Research, Bloomberg, Autonomous, Century China Center, University of California, J Capital Research, Japan, Nike, Starbucks, WSJ, China, Companies Locations: China, Beijing, Cities, Shanghai, It's, Shenyang, metropolises, Shenzhen, Europe, Wall, —, University of California San Diego, Middle Kingdom, Mexico, Vietnam, New York City

☆ It’s official: The era of China’s global dominance is over
▼ + stars: | 2023-10-15 | by ( Linette Lopez | ) www.businessinsider.com time to read: +19 min

We've reached the end of an era for the Chinese economy. Unless dramatic action is taken, the future of China's economy is looking less like a young dynamo and more like an old, slow-moving blob. A faltering Chinese economy will suppress demand for commodities like oil seeds and grain, hitting US farmers especially hard. For the US economy, China as a workshop is much more important than China as a consumer. Now that China's economic supercycle is over, that may be the cycle we're about to witness.

Persons: We've, Xi Jinping, Lee Miller, it's, Xi's, —, Xu Jiayin, Charlene Chu, Chu, Chu —, Victor Shih, Shih, that's, they're, Jinping, Zhang, Miller, It's, they'll, Chinese Communist Party that's, Anne Stevenson, Yang, isn't, Stevenson, Linette Lopez Organizations: Chinese Communist Party, CCP, Trust, Autonomous Research, Bloomberg, Autonomous, Century China Center, University of California, J Capital Research, Japan, Nike, Starbucks, Companies Locations: China, Beijing, Cities, Shanghai, It's, Shenyang, metropolises, Shenzhen, Europe, Wall, —, University of California San Diego, Middle Kingdom, Mexico, Vietnam, New York City, United States

☆ Bill Ackman's misguided Harvard crusade
▼ + stars: | 2023-10-13 | by ( Linette Lopez | ) www.businessinsider.com time to read: +6 min

"The names of the signatories should be made public," Ackman fumed, "so their views are publicly known." Look, it's classic Wall Street to complain about the younger generation being a bunch of good-for-nothing freaks. It's also classic Wall Street to throw money around as a way to exercise power over institutions, forcing rivals you dislike to bend the knee. In his initial post, Ackman said that "a number of CEOs" shared his desire to publicly out the Harvard students. AdvertisementAdvertisementOn Wall Street, Ackman is known as the king of uninformed, unnecessary, and seemingly unlimited tweets — a breathtaking achievement in an industry full of workaholic, screen-addicted information junkies.

Persons: Bill Ackman, —, Ackman, Larry Summers, Joe McCarthy, Mark Rowan, It's, it's, he's, JC Penney, Michael Pearson, Herbalife, Sam Bankman, Pershing, Linette Lopez Organizations: Pershing, Capital Management, Harvard, Wall, Treasury, Apollo Global Management, University of Pennsylvania, JC, isn't Locations: Israel, Canadian, Washington, Palestine

☆ China's Wang claims maiden WTA title in Guangzhou
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

The 22-year-old Wang's victory marked the fourth time that a Chinese player has been crowned champion in Guangzhou, following Wang Qiang (2018), Zhang Shuai (2013, 2017) and Li Na (2004). "It was very exciting and it's a very emotional moment because in this tournament, every player is really tough," Wang said. "I wanted a title from the first day, even when I started tennis. China last hosted a WTA tournament in 2019, before the COVID crisis wreaked havoc on the global sports schedule. The WTA was widely praised for suspending tournaments in China but reversed its decision in April.

Persons: Wang Xiyu, Russia's Mirra Andreeva, Toby Melville, Magda Linette, Wang Qiang, Zhang Shuai, Li Na, Wang, I'm, Zhu Lin, Hua Hin, Zheng Qinwen, Peng Shuai, Peng, Shrivathsa Sridhar Organizations: Lawn Tennis, Croquet Club, WTA, Guangzhou, women's, Thomson Locations: London, Britain, Guangzhou, Palermo, China, Bengaluru

☆ WTA roundup: Greet Minnen, Yulia Putintseva advance in China
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The unseeded Putintseva eliminated third seed Tatjana Maria of Germany 6-4, 6-7 (6), 6-0. Putintseva converted six of 12 break points and saved nine of 11, overcoming Maria's 6-1 edge in aces. Minnen, the seventh seed, ousted fourth seed Lucia Bronzetti of Italy 6-7 (8), 6-4, 6-1. Top seed Magda Linette of Poland avoided the upset in defeating fifth seed Rebeka Masarova of Spain 7-5, 7-6 (6). In the semifinals, Dolehide will face countrywoman Sofia Kenin, who was a 6-4, 6-7 (6), 6-1 winner over Canada's Leylah Fernandez on Thursday.

Persons: Belgium's, Minnen, Venus Williams, Shannon Stapleton, Kazakhstan's Yulia Putintseva, Putintseva, Tatjana Maria, Lucia Bronzetti, Magda Linette, Rebeka, China's Xiyu Wang, Wang, Linette, Caroline Dolehide, Martina Trevisan, Dolehide, Trevisan, countrywoman Sofia Kenin, Canada's Leylah Fernandez, Maria Sakkari, Colombia's Emiliana Arango, Caroline Garcia of Organizations: Tennis, U.S, REUTERS, Guangzhou, Slovakian Viktoria Hruncakova, Guadalajara Open Akron, Caroline Garcia of France, Victoria Azarenka, Thomson Locations: Flushing Meadows , New York, United States, China, Germany, Italy, Poland, Spain, Putintseva, Guadalajara, Mexico

☆ The Greased-Pig Economy: Higher Inflation, Stock Market Crash Possible
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since. But with inflation still above the Fed's goal, it's clear we need to recalibrate some on the demand side still.

Persons: it's, Jerome Powell, Mike Konczal, Konczal, we've, Price, proclivity, that's, Taylor Swift, we'd, Charles Evans, Christine Lagarde, Morgan, Jamie Dimon, Roosevelt, —, you've, Justin Simon, Jasper Capital, Linette Lopez Organizations: Consumers, Federal, Roosevelt Institute, Fed, Chicago Fed, European Central Bank, Census Locations: American, America, Jasper

☆ WTA roundup: Russian teen wins opener at Guangzhou
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Shnaider won six straight games in the first set and came back from a 2-0 hole in the second set to win in 75 minutes. Denmark's Clara Tauson eliminated Fruhvirtova 6-2, 7-6 (6). In other second-round matches, Martina Trevisan upset 15th-seeded Jasmine Paolini 7-5, 6-2 in an all-Italian matchup, and seventh-seeded Veronika Kudermetova of Russia downed Canada's Eugenie Bouchard 6-2, 6-7 (4), 6-4. Colombia's Emiliana Arango knocked out 11th-seeded Russian Anastasia Potapova 6-4, 6-3, and Italy's Camila Giorgi defeated Egypt's Mayar Sherif, the No. 14 seed, 7-5, 6-3.

Persons: Maria Sakkari, Russia's Diana Shnaider, Carl Recine, Diana Shnaider, Claire Liu, Shnaider, Liu's, Linda Fruhvirtova, Denmark's Clara Tauson, Magda Linette, Jodie Burrage, Minnen, Harriet Dart of, Akron Hailey, Karolina Pliskova, Baptiste, Pliskova, Martina Trevisan, Jasmine Paolini, Veronika Kudermetova, Canada's Eugenie Bouchard, Victoria, Caroline Dolehide, Emma Navarro, Sofia Kenin, Sachia Vickery, Colombia's Emiliana Arango, Anastasia Potapova, Italy's Camila Giorgi, Egypt's Mayar Sherif Organizations: Melbourne, Guangzhou, Harriet Dart of Great Britain, Guadalajara, Akron, D.C, WTA, Victoria Azarenka, Thomson Locations: Melbourne, Australia, China, Czech Republic, Poland, Britain, Spain, Belgium, Harriet Dart of Great, Akron Hailey Baptiste, Washington, Guadalajara, Mexico, Russia, Belarus, United States

☆ America is stuck in a greased-pig economy
▼ + stars: | 2023-09-19 | by ( Linette Lopez | ) www.businessinsider.com time to read: +10 min

At the same time that prices were cooling off, the rest of the economy seemed to be holding up. And consumers were so intent on spending money to have a good time that cities let Beyoncé dictate public transit. In this greased-pig economy, stability depends on how confident investors and policymakers are that they're close to catching the pig. Moving in a messIn the messy economy the pandemic left us, it's not easy to pinpoint exactly why inflation has been so stubborn. CPI inflation peaked at 9% in June 2022 and has been going down steadily since.

☆ China is doing everything it can to conceal the true extent of its economic turmoil
▼ + stars: | 2023-08-29 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

China's economy is turning into a big black blob. This is happening because Xi's China is one that puts ideology before economic growth. Not because the reforms weren't working, but because the China they were creating is not the one Xi wants to see. Even as the main drivers of China's economy stumble, there will be no direct support to help households power through this fragile period. Known unknownsTransparency in China's economic data has always moved the same cycles as its politics.

Persons: —, Xi Jinping, it's, Charlene Chu, Xi, who've, It's, Chu, Fan Zhang, Zhang, Xie Huanchi, thegovernment, Victor Shih, Ministry of State Security —, isn't, Shih, Linette Lopez Organizations: Communist, Autonomous Research, Nike, Starbucks, CCP, National Bureau of Statistics, Custom, J Capital Research, Study Times, Getty, World Trade Organization, Century China Center, University of California, Communist Party, Ministry of State Security, Beijing Locations: China, COVID, Xinhua, University of California San Diego, Beijing

☆ The hidden consequence of the return-to-office crackdown — more workers will lose their jobs
▼ + stars: | 2023-08-22 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

The push to get workers back to offices could put millions of jobs at risk if people don't comply. What makes this even more difficult to swallow for Meta employees is just how quickly Meta's tone has changed. In June, they were informed about the need to come into the office three days a week from September 5, per The Information. AdvertisementAdvertisementAmazon is making a similar play to Meta, with a return-to-office strategy that involves scare tactics. But since few people can afford to be out of a job right now, employers may get their way.

Persons: they'll, Zuckerberg's Meta, Lori Goler, Goler, Andy Jassy's, Insider's Linette Lopez Organizations: Labor, Stanford University, University of Chicago, MIT, ITAM University, Meta, Wall, Deloitte, Workplace Intelligence Locations: Silicon Valley, Silicon, Wall, Mexico, East Coast

☆ Goldman Sachs is having an identity crisis
▼ + stars: | 2023-08-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +11 min

I never thought I'd write this but … I miss the old Goldman Sachs. That was the voice of Goldman Sachs 2009 — the adamantine firm that managed to make its way through the crisis relatively unscathed. This sort of dry humor worked back then, but for today's Goldman Sachs, the joke just doesn't hit the same way. Van Praag — who was once dubbed "Goldman Sachs' Rococo PR prince" by The Observer — left the firm in 2012. It would be nice to see the old Goldman Sachs ferocity is still out there somewhere, even if it's not on Wall Street.

Persons: I'd, …, Goldman Sachs, Lucas van Praag, Goldman, van Praag, John F, David Solomon —, Solomon, boardrooms, today's Goldman Sachs, Lucas van Praag's Goldman, —, FactSet, JP Morgan, chuffs, DJ Sol, Van Praag —, Observer —, Jake Siewert, Lloyd Blankfein —, David Solomon's, Michael Kovac, Marcus —, DJ'ing, Goldman's, Lloyd Blankfein, Insider's Dakin Campbell, Kim Kardashian, Morgan Stanley, It's, Trump, Gary Cohn, mathlete who's, it's, Linette Lopez Organizations: Sunday Times of, Bloomberg, Refinitiv, Wealth Management, Observer, Treasury, Blankfein, Bank of America, Ivy League Locations: Wall, Sunday Times of London, New York City, Bahamas, Silicon

☆ Azarenka and Pliskova slog way into second round of rainy Canadian Open
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

[1/3] Aug 7, 2023; Montreal, Quebec, Canada; Victoria Azarenka serves against Magda Linette (POL) (not pictured) in first round play at IGA Stadium. Azarenka was unfazed by the rain, charging ahead 5-2 in the opening set before closing it out with a break just before play was stopped a second time. She romped through the second set, winning 24 of 31 points and breaking Poland's Linette three times. When play restarted, Zhu pounced, winning two points to clinch the tie-break 10-8. But the 31-year-old Czech quickly refocused in the decider, applying pressure and breaking Zhu three times to move onto the second round and a meeting with Polish world number one and reigning US Open champion Iga Swiatek.

Persons: Victoria Azarenka, Magda Linette, Eric Bolte, Karolina Pliskova, Azarenka, Sloane Stephens, Ukraine's, Pliskova, Zhu Lin, Sascha Bajin, Zhu, Zhu pounced, Iga Swiatek, Swiatek, Aryna Sabalenka, Steve Keating, Jamie Freed Organizations: Victoria, IGA, Canadian, Warsaw, Thomson Locations: Montreal, Quebec, Canada, Stuttgart, Pliskova, Czech, Toronto

☆ Elon Musk's scheme to pay big Twitter accounts is rewarding his favorite trolls but probably won't entice major creators
▼ + stars: | 2023-07-14 | by ( Lindsay Dodgson | ) www.businessinsider.com time to read: +5 min

Twitter announced Thursday it would start sharing ad revenue with some creators. Elon Musk has started sharing Twitter's ad revenue with a handful of accounts, hoping to incentivize the best creators to put their content on his platform. Twitter announced Thursday that creators would now be eligible to some of the company's ad revenue, "to help people earn a living directly" on the platform. But on the rare occasion Donaldson reveals how much ad revenue he makes, it is surprisingly little. Ad revenue traditionally aids smaller accounts who don't have their own brand deals — YouTube monetization is open to anyone with 1,000 subscribers.

Persons: Twitter, Elon Musk, Taylor Lorenz, Andrew Tate, Ian Miles Cheong, Rogan O'Handley, Tate, Wokeness, He's, It's, Linette Lopez, Paul, — Jimmy Donaldson, MrBeast —, Donaldson, Honey Organizations: Morning, Twitter, Washington Post, YouTube, CSGO Lotto Locations: Romania, TikTok, YouTube, Twitter's

☆ Elon Musk Hasn't Killed Twitter, He's Just Made It Irrelevant
▼ + stars: | 2023-07-12 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It's been less than a year since he bought it, and Elon Musk's Twitter is already well on its way to suffering a fate worse than death — irrelevance. How you do a turnaroundIn the early days of Musk's Twitter takeover, I told you he was overpaying for the company. Unfortunately for Twitter, Musk is not a traditional turnaround guy. Maybe, to Musk, that's a crusade worth sacrificing the very thing that makes Twitter special. Maybe this is the site Musk wanted in the first place.

Persons: It's, Elon, irrelevance, Musk, Ron DeSantis, Rihanna, Mark Zuckerberg's Meta, Alexandria Ocasio, Cortez, Jennifer Lopez, Steph Curry, Donald Trump's, he's, tweeting, Vicki Bryan, Bond Angle, Goldman Sachs, Twitter hadn't, Linda Yaccarino, That's, Bryan, Morgan Stanley, what's, Jack Dorsey, —, Instagram, Lina Khan, hasn't, Meta, Zuckerberg, he'll, Linette Lopez Organizations: Elon Musk's Twitter, Gov, Twitter, Super, Metropolitan Transportation Authority, MTA, Oracle, Google, Fidelity, Wall Street, Pew Research, Pew, Federal Trade Commission, Meta Locations: Florida, Alexandria, New York

☆ Return to Office, Recession Fears End Wall Street's Hamptons Work-From-Home Party
▼ + stars: | 2023-07-09 | by ( Linette Lopez | ) www.businessinsider.com time to read: +13 min

It may seem counterintuitive, but the pandemic was like a brief visit to Shangri-La for Wall Street. For the first time in years, Wall Street has to sing for its supper. A return to the office also means a return to more-classic Wall Street social norms. Wall Street, for all its highfalutin personalities and big paydays, is an apprenticeship system. For Wall Street, the heart of the pandemic was a moment to consider what life would be like at a slower, more-nurturing pace.

Persons: You've, Crypto, Dealmaking, Goldman Sachs, me, Seth Klarman, Klarman, Lee Felty, Harrison, Felty, Jim Chanos, Chanos, Jamie Dimon, David Solomon wouldn't, Fenty, Goldman, Solomon, Wall, Young, It's, Al Mare, Topping Rose, Jean, Georges, Maison, Wall Streeter, Linette Lopez Organizations: Wall, JPMorgan, Hamptons, CNBC, Compass, Chanos, East Hampton, Citigroup, Bloomberg, SoHo Locations: New York, East, Manhattan, Long, Stocks, Bridgehampton, It's

☆ The dream scenario for the economy is looking more likely by the day
▼ + stars: | 2023-07-09 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

The US jobs market is still on 🔥. Still, recent data from the Bureau of Labor Statistics shows a job market that's running hot. Average hourly earnings increased 0.4% month on month and are up 4.4% on last year. The dream scenario for the economy is to get inflation under control without a sharp spike in unemployment or a recession. So far, the job market has remained robust.

Persons: ake, anker, rina, ord, T witter Organizations: Service, uts Locations: Wall, Silicon, usk

☆ Kontaveit to retire after Wimbledon due to back injury
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +1 min

Kontaveit cut her 2022 season short in October and took another two-month break in February to focus on the issue. "I am ready for new challenges after my last effort as a professional tennis player - to enjoy the game and compete as hard as I can at Wimbledon." Kontaveit, now ranked 79th in the world, exited the Australian Open in the second round and has not played since a first-round defeat at the French Open in May. A quarter-final run at Melbourne Park in 2020 is her best Grand Slam result to date. Kontaveit won four titles and reached the WTA Finals in a breakthrough 2021 season and was ranked world number two last September at the U.S. Open, where she lost to Serena Williams in the second round.

Persons: Kontaveit, Poland's Magda Linette REUTERS, Hannah Mckay, Serena Williams, Hritika Sharma, Peter Rutherford Organizations: Melbourne, Wimbledon, Melbourne Park, WTA, U.S ., Thomson Locations: Melbourne, Australia, Instagram, Hyderabad

☆ China’s economy is way more screwed than anyone thought
▼ + stars: | 2023-06-14 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

The bubble in China's property market finally popped. In April, China's economic data came in weak largely across the board. The problem is that while consumers may be picking up, the biggest drivers of the Chinese economy — property and exports — are going to stay dormant. Consumer consumption makes up about 37% of the Chinese economy (in the US that figure is about 70%). Beijing has tried to shift the country toward a consumption model, like the US, but exports still make up 20% of China's economy.

Persons: lockdowns, it's, Xi Jinping, Stanley Druckenmiller, We're, Morgan Stanley, Goldman Sachs, Wei Yao, Leland Miller, Miller, Yao, Wright, I've, —, Kearney, Linette Lopez Organizations: Trade, JPMorgan, Bloomberg Invest Conference, Bank of America's, China's National Bureau, Statistics, Societe Generale, Analysts, Beijing, China, Chinese Communist Party, China's Locations: China, globalism, Beijing, York, Asia

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