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☆ US economy grew by just 1.6% in the first quarter, a much slower pace than expected
▼ + stars: | 2024-04-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —The US economy cooled more than expected in the first quarter of the year, but remained healthy by historical standards. Gross domestic product, which measures all the services and goods produced in the economy, measured an annualized rate of 1.6% in the first quarter, the Commerce Department reported Thursday. It was the weakest pace of growth since the second quarter of 2022 when the economy contracted. What this means for interest ratesInflation slowed considerably last year, but the pace of its descent has stalled in recent months. For now, economic growth remains healthy, despite the weaker-than-expected first-quarter GDP reading, as employers continue to hire at a solid clip and workers still command robust wage gains.

Persons: ” Oren Klachkin Organizations: Washington CNN, Federal Reserve, Gross, Commerce Department, Consumer, Nationwide, CNN

☆ Everton Is Back on Market as Deal With 777 Partners Falters
▼ + stars: | 2024-04-22 | by ( Tariq Panja | ) www.nytimes.com time to read: +1 min

Everton announced in September that it had signed an agreement to sell the club to an American investment firm, 777 Partners. But seven months later, the Premier League has still not granted more than conditional approval of the deal amid questions about 777’s financials. At the same time, the club continues to struggle on and off the field. Of perhaps more concern is the state of the 146-year-old club’s finances. Everton has now borrowed about £160 million (almost $200 million) from 777 Partners, a privately held investment company — cash infusions that have been required to help the team stave off bankruptcy.

Organizations: Everton, Premier League, Premier, Partners

☆ Opinion | When Pregnant Patients ‘Become Radioactive to Emergency Departments’
▼ + stars: | 2024-04-20 | by ( Jamelle Bouie | ) www.nytimes.com time to read: +3 min

I thought I would follow up my Tuesday column on abortion rights with this report from The Associated Press, on the state of emergency services for pregnant women. One woman miscarried in the lobby restroom of a Texas emergency room as front desk staff refused to check her in. And in North Carolina, a woman gave birth in a car after an emergency room couldn’t offer an ultrasound. shows, is needless suffering:The staff at Person Memorial Hospital in Roxboro, N. C., told a pregnant woman who was complaining of stomach pain that they would not be able to provide her with an ultrasound. Republican lawmakers do not seem too concerned with the fact that there are no real exceptions to their abortion laws.

Persons: Roe, Wade, you’ve, You’ve, —, John Ganz Organizations: Associated Press, U.S, Supreme, The Associated Press, ”, Person Memorial, United Auto Workers Locations: Texas, Florida, North Carolina, Roxboro

☆ How R&D Funding Is Making the UK a Global Leader in Science
▼ + stars: | 2024-04-17 | by ( Sponsor Post | ) www.businessinsider.com time to read: +8 min

Exscientia's growth was bolstered by government support: The company didn't take venture funding until 2019. Exscientia wouldn't be where it was, Taylor said, without the support of the UK higher education system and government funding. Martin Tangney, the chief scientific officer of Edinburgh-based Celtic Renewables, said the £11 million of funding his company received in 2015 from the UK government was "pivotal." Advertisement"We really believe … [that] basically, soon all drugs are going to be created with AI," Taylor said. AdvertisementClick here to find out more about how your business can benefit from Research & Development in the UK.

Persons: Ben Taylor, Achilles, Taylor, —, We've, Smith, Nephew, we've, Martin Tangney, isn't, ABE, you've, Tangney Organizations: Nasdaq, University of Dundee, AstraZeneca, COVID, Celtic Renewables, biosciences, Department for Science, Innovation & Technology, Edinburgh Napier University, Government, Renewables, Research & Development, Insider Studios, UK's Department for Business & Trade, Innovation, Technology Locations: Oxford, UK, Edinburgh, Scotland, Ireland, Japan, America, India, Grangemouth

But Secretlab's Magnus Pro Standing Desk solves this problem and then some. Here's why the Secretlab Magnus Pro is one of our picks for the best standing desks you can buy. Secretlab Magnus Pro The Magnus Pro has incredibly thoughtful cable management and supportive add-ons that make it a great choice for gamers, streamers, and anyone who uses multiple monitors and accessories. Sarah Saril/InsiderIt's important to note that the Magnus Pro takes some time and energy to put together. Sarah Saril/InsiderThere's no denying that the Secretlab Magnus Pro is one of the priciest standing desks you can buy.

Persons: Secretlab's Magnus, I've, Secretlab Magnus Pro, Magnus Pro, Magnus, Sarah Saril, it's, you've, Secretlab, Magnus Pro XL, It's Organizations: Business, Magnus Pro XL, Secretlab, Cable, Magnus, Magnus Pro, Magnetic Cable

☆ Bull market breaks its stride with the S&P 500's first 2% dip in a long while
▼ + stars: | 2024-04-06 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

Was that a change in the market's character last week, or is it still the same old bull? This is generally to the good, as boring markets are bullish markets while they remain that way. Rates and commodities worries Other asset markets have also been at least inviting the question about a potential shift in character. The good news on this, as I keep insisting, is that it hasn't been a truly Fed-driven market. Though it's easy to imagine the market chafing at this kind of higher-rate, higher-growth equilibrium if it continues too much longer.

Persons: Ned Davis, Jerome Powell, hasn't, That's, We're, It's, Andrew Kelly Organizations: Ned Davis Research, Treasury, Fed, Investors Intelligence, Investment, Deutsche Bank ., New York Stock Exchange Locations: New York City, U.S

☆ Asia markets set for mixed open as Wall Street rally falters; India wholesale inflation on deck
▼ + stars: | 2024-03-14 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Beautiful and colorful aerial view of Mumbai skyline during twilight seen from Currey Road, on February 16, 2022 in Mumbai, India. Pratik Chorge | Hindustan Times | Getty ImagesAsia-Pacific markets are set for a mixed open after Wall Street's tech-fueled rally dissipated, with Nvidia falling 1.1%, Meta slipping 0.8% and Apple dropping 1.2%. On Thursday, investors will assess India's wholesale inflation, while also monitoring any news coming out of Japan's spring wage negotiations. Japan's wage negotiations wrapped up on Wednesday, with the first overall estimate due out on Friday. Japan's Nikkei 225 is set to fall following these reports as markets price in the possibility of the BOJ tightening policy.

Persons: Pratik Organizations: Hindustan Times, Getty, Nvidia, Apple, Bank of Japan, Japan's Nikkei Locations: Mumbai, India, Asia, Pacific, Chicago, Osaka, Australia

☆ These companies are hiking their dividends – What to know before you buy shares
▼ + stars: | 2024-02-22 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Big names boosting dividends as of late include Walmart , which hiked its annual payment by 9% to 83 cents a share. Meta Platforms made headlines earlier this month when it announced it would issue its first-ever quarterly dividend – a payout of 50 cents per share. Government spending, including the CHIPS Act and the infrastructure legislation known as the Inflation Reduction Act , and the upcoming presidential election are also key considerations for companies, Silverblatt added. Dividend growth names, for instance, might offer you lower yields in the present, but you have the prospect of higher future payouts. "You need to know the fund, what they invest in and what the restrictions are," Silverblatt said.

Persons: Howard Silverblatt, Dow, Silverblatt, you've Organizations: Dow Jones, Big, Walmart, Railway, CSX, Government, Tech, Apple, Microsoft, Caterpillar, McDonald's, ExxonMobil

European stocks ended the day slightly lower on Tuesday as sentiment struggled to pick up in global markets. Mining stocks fell 1.84%, as tech dropped 1.7%, while chemicals jumped 2.5%. Asia-Pacific markets fell Tuesday, as investors parsed the Chinese central bank's decisions on key lending rates. In the U.S., stocks were lower as the market came off its first losing week in more than a month. U.S. markets were closed Monday for the Presidents Day holiday.

Organizations: Barclays, U.S . Federal Locations: Asia, Pacific, U.S

“I’ll pay for travel and accommodation.”A resident of Avdiivka, Ukraine, near destroyed buildings on February 14. Other footage collected by Ukrainian units shows scenes of devastation, with high-rise buildings covered in holes from the constant Russian barrages. Ukrainian servicemen of the 47th Mechanized Brigade prepare for combat in a Bradley Fighting Vehicle, near to Avdiivka, on February 11, 2024. CNN cannot independently verify the claim, though recent combat footage geolocated to the town suggests Russia continues to suffer heavy losses even while it makes territorial gains there. “Our soldiers are demonstrating unprecedented heroism.”Vasco Cotovio wrote in London, Olga Voitovych and Svietlana Vlasova reported from Kyiv, Ukraine.

Persons: ”, Oleksandr Syrskyi, Rustem, ” Syrskyi, “, Syrskyi, He’s, Volodymyr Zelensky, ” Zelensky, Maksym Zhorin, It’s, Zhorin, ‘ I’m, “ I’m, Kostiantyn, there’s, Avdiivka, Trump, Putin, Jens Stoltenberg, ” Stoltenberg, Genya Savilov, Andrii, ” Vasco Cotovio, Olga Voitovych, Svietlana Vlasova Organizations: CNN, Ukraine’s Defense, Separate, Brigade, —, Russian, Kyiv falters, United, NATO, 47th Mechanized Brigade, Bradley, Getty, 3rd Brigade Locations: Ukrainian, Avdiivka, Ukraine, Moscow, Donetsk city, Bakhmut, Russia, Kherson, Donetsk, Brussels, Hungary, Washington, Kyiv, United States, AFP, ”, London

☆ Russia has the advantage, and Ukraine needs to dig in if it's going to fend off the enemy's war machine, conflict experts say
▼ + stars: | 2024-01-26 | by ( Jake Epstein | ) www.businessinsider.com time to read: +7 min

Russian maintains several advantages over Ukraine, including manpower and material, experts say. To keep Moscow's forces at bay, Kyiv will need to dig in and strengthen its defenses, they said. AdvertisementNearly two years into its full-scale invasion of Ukraine, Russia again has the initiative, and its advantages over Ukraine are mounting. They're struggling as the Russian war machine gains momentum. "Ideally," the experts explained, "Ukraine can absorb Russian offensives while minimizing casualties and position itself to retake the advantage over time."

Persons: —, Michael Kofman, Dara Massicot, Rob Lee, They're, Congress —, Biden, Elif, Dmytro Smolienko, Vladimir Putin, Pat Ryder, Kostiantyn, Lee, Massicot Organizations: Service, Carnegie Endowment, International Peace, Foreign Policy Research Institute, Russian, Roman, Getty, Kyiv, Congress, American, Publishing, Getty Images, Pentagon, Ukraine Locations: Ukraine, Kyiv, Russia, Moscow, Ukrainian, Donetsk Oblast, Washington, Anadolu, Russian, Avdiivka, Kreminna, Kofman

☆ An Olympic Dream Falters Amid Track’s Shifting Rules
▼ + stars: | 2024-01-24 | by ( Jeré Longman | More About Jeré Longman | ) www.nytimes.com time to read: +1 min

Maximila Imali, a top Kenyan sprinter, did not lose her eligibility to compete in the Paris Olympics because she cheated. She did not fail a doping test. Instead, she is set to miss this year’s Summer Games because she was born with a rare genetic variant that results in naturally elevated levels of testosterone. And last March, track and field’s global governing body ruled that Ms. Imali’s biology gave her an unfair advantage in all events against other women, effectively barring her from international competition. As a result, Ms. Imali, 27, finds her Olympic dream in peril and her career and her livelihood in limbo.

Persons: Maximila, Imali Organizations: Kenyan, Paris Olympics Locations: Paris

☆ Cramer taps Eli Lilly as a new member of the 'Magnificent Seven' if Tesla earnings falter
▼ + stars: | 2024-01-22 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Monday suggested Tesla could lose its spot in the "Magnificent Seven" megacap stocks list. If Tesla falls out of favor, he said he thinks pharmaceutical giant Eli Lilly is a solid contender to take the company's place. The other members of the Magnificent Seven include Apple , Amazon , Alphabet , Meta , Nvidia and Microsoft . "We're ready no matter what, but to ignore the decline of Tesla or the advance of Eli Lilly is to reject the facts," Cramer said. At nearly $600 billion, Eli Lilly leads the pharmaceutical industry in terms of market capitalization.

Persons: CNBC's Jim Cramer, Tesla, Eli Lilly, Cramer, FactSet, there's, Hertz, Ken Langone, Lilly Organizations: Big Tech, Apple, Nvidia, Microsoft, EV, General Motors, Honda Motor Locations: U.S

CNN —Police carried out raids on gay venues in Russia late Friday, two online Russian news outlets reported, one day after the country’s top court ruled to ban the “international LGBTQ movement” and labelled it an extremist organization. “Yesterday was the only drug raid at Hunters Party. Another source with direct knowledge of the raid on the Hunters Party pop-up told CNN it was just a routine drug raid. However, people chatting on an online group linked to the Hunters Party expressed their fear. It is now illegal in Russia to promote or “praise” LGBTQ relationships, publicly express non-heterosexual orientations or suggest that they are “normal.”

Persons: Vladimir Putin, Ostorozhno Novosti, Eyewitnesses, “, Natalia Kolesnikova, Sota, ”, Milana Petrova –, ” Petrova, Alexey Khoroshy, Khoroshy, Putin Organizations: CNN — Police, Supreme, West, Russian Telegram, Ostorozhno, Sota, Police, Telegram, Central Station, Secret, Hunters Party, Getty, Central Station Club, CNN Locations: Russia, Moscow, St, Petersburg, Ostorozhno Novosti, St . Petersburg, Young, AFP, Russian, Ukraine falters

☆ Here's why some of Wall Street's biggest bulls are still calling for a recession in 2024 — and 4 investments they recommend right now
▼ + stars: | 2023-12-02 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

After a year of steady, resilient growth, the US economy will finally slip into a recession in 2024. Deutsche Bank is also calling for double-digit profit growth in a weaker economic backdrop. "For 2024, the house economics view with a mild short US recession implies $250 (+10%)," Chadha wrote in reference to S&P 500 earnings. Deutsche Bank also foresees earnings growth next year. "We remain overweight the financials as well as consumer cyclicals as they are already priced for a recession and the biggest beneficiary of an eventual recovery," Chadha wrote.

Persons: That's, —, Chris Grisanti, Brian Belski, Chadha, Belski, Financials, BMO's Organizations: Wall, Business, BMO Capital Markets, Deutsche Bank, MAI Capital Management, CNBC, BMO, Deutsche, Labor, Investors, Tech Locations: Chadha

☆ Fed's Bowman says she still expects another interest rate hike
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +3 min

U.S. Federal Reserve Governor Michelle Bowman poses at a conference on monetary policy at The Hoover Institution in Palo Alto, California, U.S., May 3, 2019. Earlier this month, the Fed kept its benchmark overnight lending rate unchanged in the 5.25%-5.50% range for the second consecutive policy meeting. However, Bowman has repeatedly been among a small minority of policymakers who have said they don't think the Fed's job is yet done. Likewise, some signs of interest rate insensitivity among businesses could dull the effects of tighter monetary policy and financial conditions on economic activity and inflation, Bowman said, and overall longer-term economic conditions might mean the Fed's policy rate may need to be higher than pre-pandemic norms. Earlier on Tuesday, Fed Governor Christopher Waller said he is "increasingly confident" the central bank's current policy setting will prove enough to return inflation to the Fed's target.

Persons: Michelle Bowman, Ann Saphir, Bowman, Jerome Powell, Christopher Waller, Lindsay Dunsmuir, Paul Simao Organizations: Federal, Hoover Institution, REUTES, Fed, Thomson Locations: Palo Alto , California, U.S, Salt Lake City , Utah

☆ India tunnel collapse: Rescuers begin risky vertical drilling after bid to free trapped Himalayan tunnel workers falters
▼ + stars: | 2023-11-28 | by ( Rhea Mogul | ) edition.cnn.com time to read: +7 min

India airlifted a high-powered drilling machine to assist in the rescue of dozens of road workers trapped underground. “The vertical drilling will disturb the rock formation and will cause vibrations to the mountain,” said Sundriyal, who is considered an expert in local rock formations. “However, it is difficult to say which one of the two methods would help us reach the trapped workers first,” he told reporters Monday. But for most of the families of the trapped men, the wait has been an agonizing switch between hope and despair. One of the trapped workers can be seen on camera.

Persons: Mahmood Ahmed, Yaspal, ”, Sundriyal, Harpal Singh, Mahi Shah, Sonu, Shah, ” Shah, ” Krishna Chauhan, Manjeet, Chauhan, ” Chauhan, Narendra Modi’s Char, Anrold Dix, ” Dix, “ Organizations: New, New Delhi CNN, Engineers, Authorities, India’s Ministry of, Highways, Garhwal, CNN, Roads Organization, Indian, Ministry of Environment, “ Locations: New Delhi, India’s, Uttarakhand, India, Garhwal University, Uttarakhand Government, Bihar, Mumbai, Mizoram, Morbi, Gujarat, Australian

☆ Hewlett Packard Enterprise beats quarterly profit estimates but forecast falters
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 28 (Reuters) - Hewlett Packard Enterprise (HPE.N) beat estimates for quarterly profit on Tuesday due to easing costs but unfavorable macroeconomic conditions led to a dour forecast for the current quarter. On an adjusted basis, the "edge-to-cloud" firm earned 52 cents per share, beating analysts' average estimate of 50 cents, according to LSEG data. In the fourth quarter, Texas-based HPE's net revenue fell 7% to $7.35 billion, marginally below estimates of $7.36 billion. Compute, its largest segment, reported revenue of $2.60 billion for the quarter, down nearly 31% from a year earlier. Annualized revenue run rate, a measure of future revenue, was up 39% at $1.30 billion in the quarter ended Oct. 31.

Persons: Brendan McDermid, Arsheeya, Maju Samuel Organizations: Hewlett Packard Enterprise Co, New York Stock Exchange, REUTERS, Hewlett Packard Enterprise, IT, Accenture, India's Tata Consultancy Services, Thomson Locations: New York City, U.S, HPE, Texas, Bengaluru

☆ European markets head for mixed open as sentiment falters
▼ + stars: | 2023-11-21 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Jeremy Hunt on the second day of the Conservative Party Conference on Oct. 2, 2023, in Manchester, England. U.K. public sector net borrowing excluding banks was £14.9 billion ($18.68 billion) in October, the second-highest level of borrowing for the month since records began in 1993. It was also higher than consensus forecasts and a March forecast by the independent Office for Budget Responsibility of £13.7 billion. Tax receipts were £2.7 billion higher year on year at £57.9 billion. It comes ahead of a government budget update Wednesday in which Finance Minister Jeremy Hunt may announce tax cuts as he seeks to prioritize growth, according to the BBC.

Persons: Jeremy Hunt, Ruth Gregory, Hunt, Gregory said, Gregory, Lindsay James, — Jenni Reid Organizations: Conservative Party Conference, Capital Economics, Quilter Investors Locations: Manchester, England

☆ Opinion | An Old Hate Cracks Open on the New Right
▼ + stars: | 2023-11-19 | by ( David French | ) www.nytimes.com time to read: +9 min

A dam burst last week on the right, and a wave of grotesque antisemitism poured out all over the internet. Some of these people worked for the right wing’s biggest names, including Tucker Carlson, Ron DeSantis and Donald Trump. On Nov. 3, Owens posted on social media, “No government anywhere has a right to commit a genocide, ever. And maybe he loves Israel and he loves America too.” Owens, he said, “is a bit more America first. And finally, the term “America First,” popular with the New Right and the older, Lindbergh right, has always been misleading.

Persons: Tucker Carlson, Ron DeSantis, Donald Trump, Ben Shapiro, Candace Owens, Owens, Israel, Shapiro, Jason Whitlock, ” Owens, “, ” “ I’m, ”, Elon Musk, X —, Charlie Kirk, Kirk, Charles Lindbergh, Lindbergh, Roosevelt, Pat Buchanan, Richard Nixon, William F, Buckley Jr, Buchanan, Elena Kagan, ” Buchanan, Nicole Hemmer, Reaganism, haltingly Organizations: Daily Wire, Daily, Twitter, America, Harvard, Jewish, Republican Party, Republican, Israeli Defense Ministry, New Locations: America, Israel, Pittsburgh, Iraq, United States

European markets pulled back slightly on Thursday, reversing positive sentiment seen earlier in the week after the release of positive data from the U.S. and China. The pan-European Stoxx 600 index was down 0.2% in early trade, with chemicals shedding 0.7% to lead losses while utilities gained 0.6%. And there was upbeat economic data from China, which reported better-than-expected retail sales and industrial data for October. In other news, U.S. President Joe Biden and China's President Xi Jinping met in person in San Francisco on Wednesday, marking the first meeting of the leaders in about a year. The leaders agreed to resume high-level military communication, according to both countries, but Taiwan remains a sticking point.

Persons: Joe Biden, Xi Jinping Organizations: Federal Reserve Locations: U.S, China, San Francisco, Taiwan

☆ China's richest nepo babies look set to inherit $120 billion
▼ + stars: | 2023-11-15 | by ( Polly Thompson | ) www.businessinsider.com time to read: +2 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. All aged under 40, Chinese heirs from at least 11 families will soon have control of wealth worth an estimated $120 billion, according to the Bloomberg Billionaires Index. AdvertisementNongfu Spring is China's biggest water company. Future Publishing/Getty ImagesThe company, worth just over half a trillion dollars, is China's biggest bottled water producer. These billionaire nepo babies are standing by to reap the benefits of China's an almost uninterrupted wealth boom over the past four decades.

Persons: —, Zhong Shu Zi, Zhong, Gao Haichun, nepo, it's Organizations: Service, Billionaire, Bloomberg, University of California, Future Publishing, Brown University, McKinsey, Global Locations: China, Irvine

☆ A Ferrari Sold at Auction for $52 Million
▼ + stars: | 2023-11-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

A 1962 Ferrari 250 GTO just sold for $52 million, the second highest price a car has ever been auctioned for. Photo: Sotheby’sA cherry red, 1962 Ferrari 250 GTO known for its rarity and winning race history has become the second-most expensive vehicle ever sold at auction. RM Sotheby’s sold the car for $52 million on Monday, below its $60 million asking price, as the market for collectible cars falters slightly along with other collecting categories. The top-selling car is a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, a prototype that was auctioned for $142 million last year and one of two ever manufactured.

Persons: Sotheby’s Organizations: Benz

☆ A Ferrari Sold At Auction for $52 Million
▼ + stars: | 2023-11-14 | by ( Kelly Crow | ) www.wsj.com time to read: 1 min

Persons: Sotheby’s Organizations: Benz

☆ Trump's Truth Social has lost $73 million since its launch, faces potential shutdown
▼ + stars: | 2023-11-14 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +3 min

In its first fiscal year ending Dec. 2022, TMTG, Truth Social's parent company, lost over $50 million on $1.4 million in sales. Given that origin story, Truth Social has branded itself as a safe haven from "Big Tech censorship," a vision that must be realized for Truth Social to maintain any sort of competitive advantage, according to the filing. Trump returned to X, the platform formerly known as Twitter, in August, though he has said Truth Social is still his primary social media platform. Trump's presence on Truth Social started as a boon for the company but has now become a crutch. But even the former president's loyalty to Truth Social may not be enough to keep the platform afloat on its own.

Persons: Donald Trump, Joe Biden's, DWAC, Devin Nunes, Nunes, Trump, Elon Musk Organizations: Acquisition Corporation, Trump Media, Technology Group, Trump, Republican, DWAC, Securities and Exchange Commission, Truth, Twitter, Facebook, U.S . Capitol, Big Tech, Tesla

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